UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-09645
Columbia Funds Series Trust
(Exact name of registrant as specified in charter)
290 Congress Street
Boston, MA 02210
(Address of principal executive offices) (Zip code)
Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: February 28
Date of reporting period: February 28, 2022
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.
February 28, 2022
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35 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/25/87 | -9.04 | 14.49 | 11.73 |
Including sales charges | -14.26 | 13.14 | 11.07 | ||
Advisor Class* | 11/08/12 | -8.82 | 14.77 | 12.00 | |
Class C | Excluding sales charges | 10/21/96 | -9.76 | 13.63 | 10.89 |
Including sales charges | -10.50 | 13.63 | 10.89 | ||
Institutional Class | 05/21/99 | -8.84 | 14.77 | 12.01 | |
Institutional 2 Class* | 11/08/12 | -8.77 | 14.85 | 12.09 | |
Institutional 3 Class* | 10/01/14 | -8.74 | 14.90 | 12.04 | |
Class R | 11/16/11 | -9.32 | 14.20 | 11.44 | |
ICE BofA All Convertibles All Qualities Index | -6.41 | 14.27 | 12.14 |
* | 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 Convertible Securities Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 5.9 |
Convertible Bonds | 76.3 |
Convertible Preferred Stocks | 17.8 |
Money Market Funds | 0.0(a) |
Warrants | 0.0(a) |
Total | 100.0 |
(a) | Rounds to zero. |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 4.9 |
Consumer Discretionary | 7.4 |
Consumer Staples | 3.9 |
Energy | 5.6 |
Financials | 3.6 |
Health Care | 26.0 |
Industrials | 6.4 |
Information Technology | 20.1 |
Utilities | 22.1 |
Total | 100.0 |
4 | Columbia Convertible Securities Fund | Annual Report 2022 |
• | Within convertible securities, the consumer discretionary, information technology, communication services, health care and real estate sectors detracted overall from Fund performance during the period. |
• | Online real estate company Zillow Group, Inc. was the Fund’s top individual detractor during the period. |
• | E-commerce retailer Wayfair, Inc. and education technology company Chegg, within the consumer discretionary sector, detracted from Fund performance during the period. The Fund’s position in Chegg was eliminated. |
• | Within the communication services sector, camera and social media company Snap, Inc., communications platform-as-a-service company Bandwidth, Inc. and internet media and services company Match Group FinanceCo 3, Inc. were among the Fund’s top detractors. |
• | Coupa Software, Inc., which provides a cloud-based platform for business spend management, and digital payments company Block, Inc. (formerly Square), within the information technology sector, delivered disappointing results for the Fund. |
• | Health care company Teladoc Health, Inc., a telemedicine and virtual healthcare company, was also a leading detractor. We sold the position in Teledoc. |
• | Within the Fund’s convertible securities allocations, the materials, utilities and financials sectors contributed to results. |
• | Within these sectors, metals and mining companies Ivanhoe Mines Ltd. and Allegheny Technologies Inc., utility companies DTE Energy Co. and American Electric Power Co., Inc., and a private equity and real estate investment firm KKR & Co., Inc. delivered gains for the Fund. |
• | Cybersecurity firm Palo Alto Networks, within the information technology sector, was the Fund’s largest individual contributor to results during the period. Other names within the sector that aided Fund performance included Datadog, Inc., Atlassian, Inc. and Bill.com Holdings, Inc. |
Columbia Convertible Securities Fund | Annual Report 2022 | 5 |
• | Several of the Fund’s health care convertibles that benefited Fund performance during the period included healthcare products and services companies Danaher Corp. and Avantor, Inc., medical devices company Dexcom, Inc. and pharmaceutical company Kadmon Holdings, Inc. |
• | Live Nation Entertainment, Inc., a global entertainment company that promotes, operates, and manages ticket sales for live entertainment within the communication services sector, also contributed to results during the period. |
• | Equity holdings within the information technology and energy sectors contributed to Fund results during the period, most notably semiconductor company Broadcom, Inc. and oil and gas provider Pioneer Natural Resources Co. |
6 | Columbia Convertible Securities Fund | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 913.00 | 1,019.34 | 5.22 | 5.51 | 1.10 |
Advisor Class | 1,000.00 | 1,000.00 | 914.30 | 1,020.58 | 4.03 | 4.26 | 0.85 |
Class C | 1,000.00 | 1,000.00 | 909.20 | 1,015.62 | 8.76 | 9.25 | 1.85 |
Institutional Class | 1,000.00 | 1,000.00 | 914.00 | 1,020.58 | 4.03 | 4.26 | 0.85 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 914.50 | 1,020.88 | 3.75 | 3.96 | 0.79 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 914.50 | 1,021.08 | 3.56 | 3.76 | 0.75 |
Class R | 1,000.00 | 1,000.00 | 911.60 | 1,018.10 | 6.40 | 6.76 | 1.35 |
Columbia Convertible Securities Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 5.9% | ||
Issuer | Shares | Value ($) |
Consumer Discretionary 0.5% | ||
Automobiles 0.5% | ||
Tesla Motors, Inc.(a) | 11,850 | 10,314,596 |
Total Consumer Discretionary | 10,314,596 | |
Energy 1.3% | ||
Oil, Gas & Consumable Fuels 1.3% | ||
Ascent Resources, Class B(a),(b),(c),(d) | 10,248,729 | 2,295,715 |
Chesapeake Energy Corp. | 5,104 | 394,314 |
Pioneer Natural Resources Co. | 100,000 | 23,960,000 |
Total | 26,650,029 | |
Total Energy | 26,650,029 | |
Health Care 0.8% | ||
Health Care Providers & Services 0.8% | ||
Anthem, Inc. | 35,000 | 15,814,750 |
Total Health Care | 15,814,750 | |
Information Technology 3.3% | ||
Semiconductors & Semiconductor Equipment 3.3% | ||
Broadcom, Inc. | 92,500 | 54,338,200 |
Microchip Technology, Inc. | 180,000 | 12,659,400 |
Total | 66,997,600 | |
Total Information Technology | 66,997,600 | |
Total Common Stocks (Cost $74,755,334) | 119,776,975 |
Convertible Bonds(e) 76.2% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Airlines 1.8% | ||||
American Airlines Group, Inc. | ||||
07/01/2025 | 6.500% | 11,850,000 | 15,932,325 | |
Southwest Airlines Co. | ||||
05/01/2025 | 1.250% | 15,470,000 | 20,675,655 | |
Total | 36,607,980 | |||
Automotive 1.3% | ||||
Arrival SA(f) | ||||
12/01/2026 | 3.500% | 14,800,000 | 9,223,649 | |
Ford Motor Co.(f),(g) | ||||
03/15/2026 | 0.000% | 13,800,000 | 16,839,925 | |
Total | 26,063,574 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Building Materials 0.6% | ||||
Patrick Industries, Inc.(f) | ||||
12/01/2028 | 1.750% | 12,850,000 | 12,472,531 | |
Cable and Satellite 3.6% | ||||
Cable One, Inc.(f) | ||||
03/15/2028 | 1.125% | 12,000,000 | 10,722,000 | |
DISH Network Corp.(g) | ||||
12/15/2025 | 0.000% | 20,000,000 | 19,562,000 | |
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 21,000,000 | 19,047,000 | |
Liberty Broadband Corp.(f) | ||||
09/30/2050 | 2.750% | 23,700,000 | 23,812,835 | |
Total | 73,143,835 | |||
Consumer Cyclical Services 6.2% | ||||
Airbnb, Inc.(f),(g) | ||||
03/15/2026 | 0.000% | 25,950,000 | 24,365,608 | |
Alarm.com Holdings, Inc.(g) | ||||
01/15/2026 | 0.000% | 15,000,000 | 12,622,500 | |
Etsy, Inc.(f) | ||||
06/15/2028 | 0.250% | 27,050,000 | 26,468,425 | |
Lyft, Inc. | ||||
05/15/2025 | 1.500% | 15,800,000 | 19,797,400 | |
Match Group FinanceCo 3, Inc.(f) | ||||
01/15/2030 | 2.000% | 15,000,000 | 23,055,000 | |
Zillow Group, Inc. | ||||
05/15/2025 | 2.750% | 16,780,000 | 20,345,750 | |
Total | 126,654,683 | |||
Consumer Products 1.7% | ||||
Beauty Health Co. (The)(f) | ||||
10/01/2026 | 1.250% | 13,850,000 | 13,199,050 | |
Callaway Golf Co. | ||||
05/01/2026 | 2.750% | 7,000,000 | 11,060,000 | |
LCI Industries | ||||
05/15/2026 | 1.125% | 10,350,000 | 10,194,750 | |
Total | 34,453,800 | |||
Diversified Manufacturing 2.4% | ||||
Array Technologies, Inc.(f) | ||||
12/01/2028 | 1.000% | 13,850,000 | 10,602,175 | |
Bloom Energy Corp. | ||||
08/15/2025 | 2.500% | 7,900,000 | 12,390,306 |
8 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Enphase Energy, Inc.(f),(g) | ||||
03/01/2028 | 0.000% | 17,000,000 | 16,277,500 | |
Greenbrier Companies, Inc. (The)(f) | ||||
04/15/2028 | 2.875% | 9,518,000 | 10,211,420 | |
Total | 49,481,401 | |||
Food and Beverage 1.3% | ||||
Chefs’ Warehouse, Inc. (The) | ||||
12/01/2024 | 1.875% | 11,000,000 | 11,598,125 | |
MGP Ingredients, Inc.(f) | ||||
11/15/2041 | 1.875% | 12,820,000 | 13,980,991 | |
Total | 25,579,116 | |||
Health Care 5.8% | ||||
Accolade, Inc.(f) | ||||
04/01/2026 | 0.500% | 18,500,000 | 14,430,000 | |
CONMED Corp. | ||||
02/01/2024 | 2.625% | 7,000,000 | 11,910,500 | |
Dexcom, Inc. | ||||
11/15/2025 | 0.250% | 29,650,000 | 31,021,313 | |
Exact Sciences Corp. | ||||
03/01/2028 | 0.375% | 22,000,000 | 20,735,000 | |
Insulet Corp. | ||||
09/01/2026 | 0.375% | 10,850,000 | 14,419,650 | |
Invacare Corp. | ||||
11/15/2024 | 5.000% | 2,257,000 | 1,982,097 | |
NeoGenomics, Inc. | ||||
05/01/2025 | 1.250% | 10,850,000 | 10,558,406 | |
Tandem Diabetes Care, Inc.(f) | ||||
05/01/2025 | 1.500% | 10,850,000 | 13,383,475 | |
Total | 118,440,441 | |||
Independent Energy 0.6% | ||||
EQT Corp. | ||||
05/01/2026 | 1.750% | 6,600,000 | 11,196,900 | |
Leisure 3.8% | ||||
Live Nation Entertainment, Inc. | ||||
03/15/2023 | 2.500% | 11,850,000 | 21,455,610 | |
NCL Corp Ltd. | ||||
08/01/2025 | 5.375% | 14,800,000 | 20,036,240 | |
NCL Corp Ltd.(f) | ||||
02/15/2027 | 2.500% | 10,850,000 | 10,047,100 | |
Royal Caribbean Cruises Ltd. | ||||
06/15/2023 | 4.250% | 20,630,000 | 26,433,219 | |
Total | 77,972,169 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Media and Entertainment 3.6% | ||||
Bilibili, Inc.(f) | ||||
12/01/2026 | 0.500% | 20,750,000 | 15,624,750 | |
fuboTV, Inc.(f) | ||||
02/15/2026 | 3.250% | 18,000,000 | 13,572,000 | |
Snap, Inc. | ||||
08/01/2026 | 0.750% | 7,150,000 | 13,595,725 | |
Snap, Inc.(f) | ||||
03/01/2028 | 0.125% | 14,800,000 | 15,155,200 | |
Zynga, Inc. | ||||
06/01/2024 | 0.250% | 12,800,000 | 15,552,000 | |
Total | 73,499,675 | |||
Metals and Mining 2.6% | ||||
Allegheny Technologies, Inc. | ||||
06/15/2025 | 3.500% | 5,920,000 | 10,681,900 | |
Ivanhoe Mines Ltd.(f) | ||||
04/15/2026 | 2.500% | 10,530,000 | 15,879,240 | |
Lithium Americas Corp.(f) | ||||
01/15/2027 | 1.750% | 16,780,000 | 15,672,520 | |
Peabody Energy Corp.(f),(h) | ||||
03/01/2028 | 3.250% | 9,850,000 | 11,041,850 | |
Total | 53,275,510 | |||
Other Financial Institutions 2.0% | ||||
MP Materials Corp.(f) | ||||
04/01/2026 | 0.250% | 12,820,000 | 15,871,160 | |
Opendoor Technologies, Inc.(f) | ||||
08/15/2026 | 0.250% | 17,750,000 | 13,543,250 | |
Virgin Galactic Holdings, Inc.(f) | ||||
02/01/2027 | 2.500% | 11,850,000 | 11,319,662 | |
Total | 40,734,072 | |||
Other Industry 1.2% | ||||
KBR, Inc. | ||||
11/01/2023 | 2.500% | 6,500,000 | 12,837,500 | |
Stride, Inc. | ||||
09/01/2027 | 1.125% | 11,850,000 | 11,553,750 | |
Total | 24,391,250 | |||
Other REIT 0.7% | ||||
Pebblebrook Hotel Trust | ||||
12/15/2026 | 1.750% | 13,000,000 | 14,410,500 | |
Pharmaceuticals 7.2% | ||||
Aerie Pharmaceuticals, Inc. | ||||
10/01/2024 | 1.500% | 14,000,000 | 12,189,633 |
Columbia Convertible Securities Fund | Annual Report 2022 | 9 |
February 28, 2022
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
BridgeBio Pharma, Inc. | ||||
02/01/2029 | 2.250% | 20,700,000 | 9,863,550 | |
Canopy Growth Corp.(f) | ||||
07/15/2023 | 4.250% | CAD | 13,000,000 | 9,293,836 |
Clovis Oncology, Inc. | ||||
05/01/2025 | 1.250% | 21,000,000 | 14,490,418 | |
Esperion Therapeutics, Inc. | ||||
11/15/2025 | 4.000% | 15,900,000 | 7,979,813 | |
Guardant Health, Inc.(g) | ||||
11/15/2027 | 0.000% | 12,850,000 | 10,741,315 | |
Insmed, Inc. | ||||
06/01/2028 | 0.750% | 23,000,000 | 22,471,000 | |
Intercept Pharmaceuticals, Inc.(f) | ||||
02/15/2026 | 3.500% | 14,684,000 | 14,750,051 | |
Ionis Pharmaceuticals, Inc.(f),(g) | ||||
04/01/2026 | 0.000% | 15,800,000 | 14,182,080 | |
Jazz Investments I Ltd. | ||||
06/15/2026 | 2.000% | 17,000,000 | 19,624,375 | |
Radius Health, Inc. | ||||
09/01/2024 | 3.000% | 12,000,000 | 11,730,000 | |
Total | 147,316,071 | |||
Retail REIT 0.6% | ||||
Kite Realty Group LP(f) | ||||
04/01/2027 | 0.750% | 12,500,000 | 13,062,500 | |
Retailers 2.6% | ||||
Burlington Stores, Inc. | ||||
04/15/2025 | 2.250% | 16,780,000 | 21,216,212 | |
Dick’s Sporting Goods, Inc. | ||||
04/15/2025 | 3.250% | 4,490,000 | 14,589,694 | |
Wayfair, Inc. | ||||
08/15/2026 | 1.000% | 14,000,000 | 17,185,000 | |
Total | 52,990,906 | |||
Technology 26.1% | ||||
2U, Inc. | ||||
05/01/2025 | 2.250% | 13,800,000 | 10,695,000 | |
3D Systems Corp.(f),(g) | ||||
11/15/2026 | 0.000% | 12,850,000 | 10,994,781 | |
Akamai Technologies, Inc. | ||||
09/01/2027 | 0.375% | 22,700,000 | 24,905,632 | |
Avalara, Inc.(f) | ||||
08/01/2026 | 0.250% | 18,750,000 | 16,256,250 | |
Bandwidth, Inc. | ||||
03/01/2026 | 0.250% | 16,800,000 | 12,547,164 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Bentley Systems, Inc.(f) | ||||
07/01/2027 | 0.375% | 13,800,000 | 11,578,200 | |
BigCommerce Holdings, Inc.(f) | ||||
10/01/2026 | 0.250% | 19,750,000 | 15,602,500 | |
Bill.com Holdings, Inc.(g) | ||||
12/01/2025 | 0.000% | 10,550,000 | 17,423,325 | |
Bill.com Holdings, Inc.(f),(g) | ||||
04/01/2027 | 0.000% | 15,980,000 | 15,500,600 | |
Blackline, Inc.(f),(g) | ||||
03/15/2026 | 0.000% | 20,000,000 | 16,850,000 | |
Coupa Software, Inc. | ||||
06/15/2025 | 0.125% | 11,850,000 | 12,578,775 | |
Datadog, Inc. | ||||
06/15/2025 | 0.125% | 6,070,000 | 11,293,235 | |
Dropbox, Inc.(f),(g) | ||||
03/01/2028 | 0.000% | 23,500,000 | 22,134,650 | |
Everbridge, Inc. | ||||
12/15/2024 | 0.125% | 10,850,000 | 9,466,625 | |
IMAX Corp.(f) | ||||
04/01/2026 | 0.500% | 14,900,000 | 14,877,650 | |
Lumentum Holdings, Inc. | ||||
12/15/2026 | 0.500% | 18,950,000 | 22,479,524 | |
MACOM Technology Solutions Holdings, Inc.(f) | ||||
03/15/2026 | 0.250% | 19,864,000 | 20,360,600 | |
Marathon Digital Holdings, Inc.(f) | ||||
12/01/2026 | 1.000% | 17,780,000 | 12,081,510 | |
MongoDB, Inc. | ||||
01/15/2026 | 0.250% | 7,900,000 | 15,085,050 | |
Okta, Inc. | ||||
06/15/2026 | 0.375% | 29,000,000 | 30,848,750 | |
ON Semiconductor Corp.(f),(g) | ||||
05/01/2027 | 0.000% | 12,820,000 | 17,492,890 | |
Palo Alto Networks, Inc. | ||||
06/01/2025 | 0.375% | 30,000,000 | 60,645,000 | |
ServiceNow, Inc.(g) | ||||
06/01/2022 | 0.000% | 2,020,000 | 8,678,930 | |
Shift4 Payments, Inc.(f) | ||||
08/01/2027 | 0.500% | 28,650,000 | 24,031,620 | |
SMART Global Holdings, Inc. | ||||
02/15/2026 | 2.250% | 7,000,000 | 10,550,046 | |
Square, Inc. | ||||
03/01/2025 | 0.125% | 19,730,000 | 25,168,081 | |
Teradyne, Inc. | ||||
12/15/2023 | 1.250% | 2,500,000 | 9,318,973 | |
Tyler Technologies, Inc.(f) | ||||
03/15/2026 | 0.250% | 10,850,000 | 11,642,050 |
10 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Wolfspeed, Inc.(f) | ||||
02/15/2028 | 0.250% | 9,350,000 | 10,057,094 | |
Zendesk, Inc. | ||||
06/15/2025 | 0.625% | 16,770,000 | 20,878,650 | |
Zscaler, Inc. | ||||
07/01/2025 | 0.125% | 7,400,000 | 12,598,500 | |
Total | 534,621,655 | |||
Transportation Services 0.5% | ||||
CryoPort, Inc.(f) | ||||
12/01/2026 | 0.750% | 13,850,000 | 10,837,625 | |
Total Convertible Bonds (Cost $1,525,626,529) | 1,557,206,194 |
Convertible Preferred Stocks 17.7% | |||
Issuer | Shares | Value ($) | |
Communication Services 1.2% | |||
Diversified Telecommunication Services 1.2% | |||
2020 Cash Mandatory Exchangeable Trust(f) | 5.250% | 22,000 | 23,793,000 |
Total Communication Services | 23,793,000 | ||
Consumer Discretionary 1.2% | |||
Auto Components 0.7% | |||
Aptiv PLC | 5.500% | 100,850 | 14,695,862 |
Internet & Direct Marketing Retail 0.5% | |||
2020 Mandatory Exchangeable Trust(f) | 6.500% | 9,850 | 10,896,070 |
Total Consumer Discretionary | 25,591,932 | ||
Consumer Staples 0.9% | |||
Food Products 0.9% | |||
Bunge Ltd. | 4.875% | 140,000 | 18,855,200 |
Total Consumer Staples | 18,855,200 | ||
Financials 0.8% | |||
Capital Markets 0.8% | |||
KKR & Co., Inc. | 6.000% | 230,000 | 17,491,500 |
Total Financials | 17,491,500 | ||
Health Care 5.4% | |||
Health Care Equipment & Supplies 4.0% | |||
Becton Dickinson and Co. | 6.000% | 375,000 | 20,122,500 |
Boston Scientific Corp. | 5.500% | 150,000 | 17,323,500 |
Danaher Corp. | 5.000% | 30,000 | 44,677,240 |
Total | 82,123,240 |
Convertible Preferred Stocks (continued) | |||
Issuer | Shares | Value ($) | |
Health Care Technology 0.7% | |||
Change Healthcare, Inc. | 6.000% | 187,700 | 13,172,786 |
Life Sciences Tools & Services 0.7% | |||
Avantor, Inc. | 6.250% | 135,000 | 14,296,500 |
Total Health Care | 109,592,526 | ||
Industrials 1.5% | |||
Construction & Engineering 0.5% | |||
Fluor Corp. | 6.500% | 8,880 | 10,381,608 |
Machinery 0.5% | |||
Stanley Black & Decker, Inc. | 5.250% | 110,000 | 10,587,500 |
Professional Services 0.5% | |||
Clarivate PLC | 5.250% | 160,000 | 9,801,600 |
Total Industrials | 30,770,708 | ||
Information Technology 1.5% | |||
Electronic Equipment, Instruments & Components 0.9% | |||
II-VI, Inc. | 6.000% | 65,000 | 18,658,900 |
IT Services 0.6% | |||
Sabre Corp. | 6.500% | 80,300 | 11,223,531 |
Total Information Technology | 29,882,431 | ||
Utilities 5.2% | |||
Electric Utilities 2.9% | |||
American Electric Power Co., Inc. | 6.125% | 350,000 | 18,410,000 |
NextEra Energy, Inc. | 6.219% | 810,000 | 40,581,000 |
Total | 58,991,000 | ||
Multi-Utilities 2.3% | |||
DTE Energy Co. | 6.250% | 500,000 | 25,330,000 |
NiSource, Inc. | 7.750% | 200,000 | 22,198,000 |
Total | 47,528,000 | ||
Total Utilities | 106,519,000 | ||
Total Convertible Preferred Stocks (Cost $336,442,657) | 362,496,297 |
Columbia Convertible Securities Fund | Annual Report 2022 | 11 |
February 28, 2022
Warrants 0.0% | ||
Issuer | Shares | Value ($) |
Energy 0.0% | ||
Oil, Gas & Consumable Fuels 0.0% | ||
Chesapeake Energy Corp.(a) | 9,631 | 418,932 |
Total Energy | 418,932 | |
Total Warrants (Cost $132,383) | 418,932 | |
Money Market Funds 0.0% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(i),(j) | 666,024 | 665,824 |
Total Money Market Funds (Cost $665,757) | 665,824 | |
Total Investments in Securities (Cost: $1,937,622,660) | 2,040,564,222 | |
Other Assets & Liabilities, Net | 4,697,399 | |
Net Assets | 2,045,261,621 |
(a) | Non-income producing investment. |
(b) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At February 28, 2022, the total value of these securities amounted to $2,295,715, which represents 0.11% of total net assets. |
(c) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Fund’s Board of Trustees. At February 28, 2022, the total market value of these securities amounted to $2,295,715, which represents 0.11% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | 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 February 28, 2022, the total value of these securities amounted to $693,046,873, which represents 33.89% of total net assets. |
(g) | Zero coupon bond. |
(h) | Represents a security purchased on a when-issued basis. |
(i) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(j) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
37,266,947 | 838,873,646 | (875,474,826) | 57 | 665,824 | (1,902) | 16,863 | 666,024 |
12 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
CAD | Canada Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Consumer Discretionary | 10,314,596 | — | — | 10,314,596 |
Energy | 24,354,314 | — | 2,295,715 | 26,650,029 |
Health Care | 15,814,750 | — | — | 15,814,750 |
Information Technology | 66,997,600 | — | — | 66,997,600 |
Total Common Stocks | 117,481,260 | — | 2,295,715 | 119,776,975 |
Convertible Bonds | — | 1,557,206,194 | — | 1,557,206,194 |
Convertible Preferred Stocks | ||||
Communication Services | — | 23,793,000 | — | 23,793,000 |
Consumer Discretionary | — | 25,591,932 | — | 25,591,932 |
Consumer Staples | — | 18,855,200 | — | 18,855,200 |
Financials | — | 17,491,500 | — | 17,491,500 |
Health Care | — | 109,592,526 | — | 109,592,526 |
Industrials | — | 30,770,708 | — | 30,770,708 |
Information Technology | — | 29,882,431 | — | 29,882,431 |
Utilities | — | 106,519,000 | — | 106,519,000 |
Total Convertible Preferred Stocks | — | 362,496,297 | — | 362,496,297 |
Columbia Convertible Securities Fund | Annual Report 2022 | 13 |
February 28, 2022
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Warrants | ||||
Energy | 418,932 | — | — | 418,932 |
Total Warrants | 418,932 | — | — | 418,932 |
Money Market Funds | 665,824 | — | — | 665,824 |
Total Investments in Securities | 118,566,016 | 1,919,702,491 | 2,295,715 | 2,040,564,222 |
14 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,936,956,903) | $2,039,898,398 |
Affiliated issuers (cost $665,757) | 665,824 |
Receivable for: | |
Investments sold | 22,825,574 |
Capital shares sold | 1,649,422 |
Dividends | 2,966,780 |
Interest | 4,012,146 |
Prepaid expenses | 20,962 |
Total assets | 2,072,039,106 |
Liabilities | |
Due to custodian | 56,425 |
Payable for: | |
Investments purchased | 12,810,462 |
Investments purchased on a delayed delivery basis | 9,850,000 |
Capital shares purchased | 3,519,100 |
Management services fees | 124,746 |
Distribution and/or service fees | 14,949 |
Transfer agent fees | 172,059 |
Compensation of board members | 178,682 |
Compensation of chief compliance officer | 381 |
Other expenses | 50,681 |
Total liabilities | 26,777,485 |
Net assets applicable to outstanding capital stock | $2,045,261,621 |
Represented by | |
Paid in capital | 1,857,396,879 |
Total distributable earnings (loss) | 187,864,742 |
Total - representing net assets applicable to outstanding capital stock | $2,045,261,621 |
Columbia Convertible Securities Fund | Annual Report 2022 | 15 |
February 28, 2022
Class A | |
Net assets | $413,074,066 |
Shares outstanding | 17,402,384 |
Net asset value per share | $23.74 |
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) | $25.19 |
Advisor Class | |
Net assets | $176,880,144 |
Shares outstanding | 7,343,883 |
Net asset value per share | $24.09 |
Class C | |
Net assets | $77,910,403 |
Shares outstanding | 3,300,608 |
Net asset value per share | $23.60 |
Institutional Class | |
Net assets | $1,094,311,818 |
Shares outstanding | 45,996,372 |
Net asset value per share | $23.79 |
Institutional 2 Class | |
Net assets | $180,150,235 |
Shares outstanding | 7,491,383 |
Net asset value per share | $24.05 |
Institutional 3 Class | |
Net assets | $101,658,381 |
Shares outstanding | 4,180,235 |
Net asset value per share | $24.32 |
Class R | |
Net assets | $1,276,574 |
Shares outstanding | 53,855 |
Net asset value per share | $23.70 |
16 | Columbia Convertible Securities Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $23,047,298 |
Dividends — affiliated issuers | 16,863 |
Interest | 26,079,527 |
Interfund lending | 4 |
Foreign taxes withheld | (94,169) |
Total income | 49,049,523 |
Expenses: | |
Management services fees | 18,506,296 |
Distribution and/or service fees | |
Class A | 1,307,706 |
Class C | 936,648 |
Class R | 8,620 |
Transfer agent fees | |
Class A | 521,258 |
Advisor Class | 222,864 |
Class C | 93,335 |
Institutional Class | 1,331,463 |
Institutional 2 Class | 130,382 |
Institutional 3 Class | 8,090 |
Class R | 1,717 |
Compensation of board members | 68,256 |
Custodian fees | 16,344 |
Printing and postage fees | 108,095 |
Registration fees | 169,970 |
Audit fees | 29,500 |
Legal fees | 37,774 |
Interest on interfund lending | 267 |
Compensation of chief compliance officer | 364 |
Other | 42,778 |
Total expenses | 23,541,727 |
Fees waived by transfer agent | |
Institutional 2 Class | (37,559) |
Institutional 3 Class | (8,091) |
Expense reduction | (380) |
Total net expenses | 23,495,697 |
Net investment income | 25,553,826 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 347,913,679 |
Investments — affiliated issuers | (1,902) |
Foreign currency translations | (907) |
Net realized gain | 347,910,870 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (597,684,548) |
Investments — affiliated issuers | 57 |
Foreign currency translations | 75 |
Net change in unrealized appreciation (depreciation) | (597,684,416) |
Net realized and unrealized loss | (249,773,546) |
Net decrease in net assets resulting from operations | $(224,219,720) |
Columbia Convertible Securities Fund | Annual Report 2022 | 17 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $25,553,826 | $28,349,296 |
Net realized gain | 347,910,870 | 300,282,162 |
Net change in unrealized appreciation (depreciation) | (597,684,416) | 587,265,821 |
Net increase (decrease) in net assets resulting from operations | (224,219,720) | 915,897,279 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (99,541,078) | (38,032,859) |
Advisor Class | (42,828,942) | (13,691,173) |
Class C | (17,238,856) | (6,282,964) |
Institutional Class | (257,850,064) | (89,500,632) |
Institutional 2 Class | (45,510,274) | (15,028,718) |
Institutional 3 Class | (24,603,005) | (11,719,287) |
Class R | (316,475) | (148,888) |
Total distributions to shareholders | (487,888,694) | (174,404,521) |
Increase in net assets from capital stock activity | 64,917,630 | 520,485,072 |
Total increase (decrease) in net assets | (647,190,784) | 1,261,977,830 |
Net assets at beginning of year | 2,692,452,405 | 1,430,474,575 |
Net assets at end of year | $2,045,261,621 | $2,692,452,405 |
18 | Columbia Convertible Securities Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,228,830 | 92,003,782 | 6,543,092 | 173,145,914 |
Distributions reinvested | 2,846,504 | 75,156,224 | 1,082,242 | 28,390,322 |
Redemptions | (6,914,880) | (191,621,486) | (3,750,317) | (94,419,226) |
Net increase (decrease) | (839,546) | (24,461,480) | 3,875,017 | 107,117,010 |
Advisor Class | ||||
Subscriptions | 3,734,410 | 109,600,435 | 6,386,815 | 165,750,916 |
Distributions reinvested | 1,602,315 | 42,763,655 | 516,718 | 13,673,496 |
Redemptions | (5,156,959) | (145,063,892) | (3,990,143) | (105,096,614) |
Net increase | 179,766 | 7,300,198 | 2,913,390 | 74,327,798 |
Class C | ||||
Subscriptions | 539,063 | 15,538,783 | 872,680 | 23,594,239 |
Distributions reinvested | 592,034 | 15,484,137 | 212,100 | 5,561,428 |
Redemptions | (970,376) | (26,782,063) | (777,420) | (20,202,251) |
Net increase | 160,721 | 4,240,857 | 307,360 | 8,953,416 |
Institutional Class | ||||
Subscriptions | 13,759,425 | 391,569,803 | 22,020,514 | 567,098,429 |
Distributions reinvested | 8,000,005 | 211,130,201 | 2,774,980 | 72,707,106 |
Redemptions | (19,464,113) | (535,994,990) | (14,229,664) | (342,844,211) |
Net increase | 2,295,317 | 66,705,014 | 10,565,830 | 296,961,324 |
Institutional 2 Class | ||||
Subscriptions | 3,662,138 | 106,043,960 | 5,669,172 | 137,402,149 |
Distributions reinvested | 1,571,227 | 41,882,441 | 541,539 | 14,289,446 |
Redemptions | (5,017,678) | (137,042,082) | (3,068,757) | (78,794,981) |
Net increase | 215,687 | 10,884,319 | 3,141,954 | 72,896,614 |
Institutional 3 Class | ||||
Subscriptions | 1,091,018 | 31,642,676 | 1,211,550 | 33,087,799 |
Distributions reinvested | 904,559 | 24,378,433 | 454,489 | 11,715,180 |
Redemptions | (2,002,471) | (55,368,594) | (3,182,103) | (84,192,126) |
Net increase (decrease) | (6,894) | 652,515 | (1,516,064) | (39,389,147) |
Class R | ||||
Subscriptions | 24,002 | 659,851 | 33,070 | 829,134 |
Distributions reinvested | 8,976 | 236,924 | 4,052 | 105,544 |
Redemptions | (45,984) | (1,300,568) | (56,385) | (1,316,621) |
Net decrease | (13,006) | (403,793) | (19,263) | (381,943) |
Total net increase | 1,992,045 | 64,917,630 | 19,268,224 | 520,485,072 |
Columbia Convertible Securities Fund | Annual Report 2022 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2022 | $32.01 | 0.24 | (2.84) | (2.60) | (0.22) | (5.45) | (5.67) |
Year Ended 2/28/2021 | $22.09 | 0.34 | 11.92 | 12.26 | (0.44) | (1.90) | (2.34) |
Year Ended 2/29/2020 | $20.92 | 0.39 | 2.18 | 2.57 | (0.50) | (0.90) | (1.40) |
Year Ended 2/28/2019 | $20.41 | 0.39 | 1.11 | 1.50 | (0.40) | (0.59) | (0.99) |
Year Ended 2/28/2018 | $18.64 | 0.43 | 1.89 | 2.32 | (0.55) | — | (0.55) |
Advisor Class | |||||||
Year Ended 2/28/2022 | $32.40 | 0.32 | (2.89) | (2.57) | (0.29) | (5.45) | (5.74) |
Year Ended 2/28/2021 | $22.34 | 0.41 | 12.06 | 12.47 | (0.51) | (1.90) | (2.41) |
Year Ended 2/29/2020 | $21.14 | 0.45 | 2.20 | 2.65 | (0.55) | (0.90) | (1.45) |
Year Ended 2/28/2019 | $20.61 | 0.44 | 1.13 | 1.57 | (0.45) | (0.59) | (1.04) |
Year Ended 2/28/2018 | $18.82 | 0.48 | 1.90 | 2.38 | (0.59) | — | (0.59) |
Class C | |||||||
Year Ended 2/28/2022 | $31.88 | 0.03 | (2.85) | (2.82) | (0.01) | (5.45) | (5.46) |
Year Ended 2/28/2021 | $22.00 | 0.15 | 11.89 | 12.04 | (0.26) | (1.90) | (2.16) |
Year Ended 2/29/2020 | $20.84 | 0.23 | 2.17 | 2.40 | (0.34) | (0.90) | (1.24) |
Year Ended 2/28/2019 | $20.33 | 0.23 | 1.12 | 1.35 | (0.25) | (0.59) | (0.84) |
Year Ended 2/28/2018 | $18.57 | 0.29 | 1.87 | 2.16 | (0.40) | — | (0.40) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $32.08 | 0.31 | (2.86) | (2.55) | (0.29) | (5.45) | (5.74) |
Year Ended 2/28/2021 | $22.13 | 0.41 | 11.95 | 12.36 | (0.51) | (1.90) | (2.41) |
Year Ended 2/29/2020 | $20.96 | 0.45 | 2.17 | 2.62 | (0.55) | (0.90) | (1.45) |
Year Ended 2/28/2019 | $20.44 | 0.44 | 1.12 | 1.56 | (0.45) | (0.59) | (1.04) |
Year Ended 2/28/2018 | $18.67 | 0.48 | 1.88 | 2.36 | (0.59) | — | (0.59) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $32.36 | 0.33 | (2.88) | (2.55) | (0.31) | (5.45) | (5.76) |
Year Ended 2/28/2021 | $22.31 | 0.43 | 12.04 | 12.47 | (0.52) | (1.90) | (2.42) |
Year Ended 2/29/2020 | $21.12 | 0.47 | 2.18 | 2.65 | (0.56) | (0.90) | (1.46) |
Year Ended 2/28/2019 | $20.59 | 0.45 | 1.14 | 1.59 | (0.47) | (0.59) | (1.06) |
Year Ended 2/28/2018 | $18.80 | 0.50 | 1.90 | 2.40 | (0.61) | — | (0.61) |
20 | Columbia Convertible Securities Fund | Annual Report 2022 |
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 2/28/2022 | $23.74 | (9.04%) | 1.10%(c) | 1.10%(c),(d) | 0.83% | 92% | $413,074 |
Year Ended 2/28/2021 | $32.01 | 58.37% | 1.12%(c) | 1.12%(c),(d) | 1.32% | 98% | $584,015 |
Year Ended 2/29/2020 | $22.09 | 12.55% | 1.17%(c) | 1.12%(c),(d) | 1.81% | 74% | $317,365 |
Year Ended 2/28/2019 | $20.92 | 7.70% | 1.20%(c) | 1.13%(c),(d) | 1.88% | 60% | $286,075 |
Year Ended 2/28/2018 | $20.41 | 12.65% | 1.22% | 1.12%(d) | 2.21% | 67% | $248,052 |
Advisor Class | |||||||
Year Ended 2/28/2022 | $24.09 | (8.82%) | 0.85%(c) | 0.85%(c),(d) | 1.08% | 92% | $176,880 |
Year Ended 2/28/2021 | $32.40 | 58.75% | 0.88%(c) | 0.88%(c),(d) | 1.55% | 98% | $232,118 |
Year Ended 2/29/2020 | $22.34 | 12.84% | 0.92%(c) | 0.87%(c),(d) | 2.06% | 74% | $94,945 |
Year Ended 2/28/2019 | $21.14 | 7.99% | 0.95%(c) | 0.88%(c),(d) | 2.15% | 60% | $51,487 |
Year Ended 2/28/2018 | $20.61 | 12.91% | 0.97% | 0.87%(d) | 2.43% | 67% | $18,432 |
Class C | |||||||
Year Ended 2/28/2022 | $23.60 | (9.76%) | 1.85%(c) | 1.85%(c),(d) | 0.09% | 92% | $77,910 |
Year Ended 2/28/2021 | $31.88 | 57.20% | 1.87%(c) | 1.87%(c),(d) | 0.59% | 98% | $100,101 |
Year Ended 2/29/2020 | $22.00 | 11.71% | 1.92%(c) | 1.87%(c),(d) | 1.06% | 74% | $62,313 |
Year Ended 2/28/2019 | $20.84 | 6.92% | 1.95%(c) | 1.88%(c),(d) | 1.14% | 60% | $44,035 |
Year Ended 2/28/2018 | $20.33 | 11.80% | 1.97% | 1.87%(d) | 1.47% | 67% | $40,419 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $23.79 | (8.84%) | 0.85%(c) | 0.85%(c),(d) | 1.09% | 92% | $1,094,312 |
Year Ended 2/28/2021 | $32.08 | 58.81% | 0.88%(c) | 0.88%(c),(d) | 1.57% | 98% | $1,401,886 |
Year Ended 2/29/2020 | $22.13 | 12.81% | 0.92%(c) | 0.87%(c),(d) | 2.06% | 74% | $733,400 |
Year Ended 2/28/2019 | $20.96 | 8.00% | 0.95%(c) | 0.88%(c),(d) | 2.13% | 60% | $544,140 |
Year Ended 2/28/2018 | $20.44 | 12.91% | 0.97% | 0.87%(d) | 2.49% | 67% | $393,240 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $24.05 | (8.77%) | 0.80%(c) | 0.79%(c) | 1.14% | 92% | $180,150 |
Year Ended 2/28/2021 | $32.36 | 58.89% | 0.83%(c) | 0.81%(c) | 1.62% | 98% | $235,448 |
Year Ended 2/29/2020 | $22.31 | 12.88% | 0.87%(c) | 0.81%(c) | 2.13% | 74% | $92,233 |
Year Ended 2/28/2019 | $21.12 | 8.07% | 0.89%(c) | 0.81%(c) | 2.19% | 60% | $80,367 |
Year Ended 2/28/2018 | $20.59 | 13.02% | 0.90% | 0.80% | 2.54% | 67% | $49,709 |
Columbia Convertible Securities Fund | Annual Report 2022 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $32.66 | 0.35 | (2.92) | (2.57) | (0.32) | (5.45) | (5.77) |
Year Ended 2/28/2021 | $22.50 | 0.45 | 12.14 | 12.59 | (0.53) | (1.90) | (2.43) |
Year Ended 2/29/2020 | $21.28 | 0.48 | 2.21 | 2.69 | (0.57) | (0.90) | (1.47) |
Year Ended 2/28/2019 | $20.74 | 0.47 | 1.14 | 1.61 | (0.48) | (0.59) | (1.07) |
Year Ended 2/28/2018 | $18.94 | 0.51 | 1.91 | 2.42 | (0.62) | — | (0.62) |
Class R | |||||||
Year Ended 2/28/2022 | $31.98 | 0.16 | (2.85) | (2.69) | (0.14) | (5.45) | (5.59) |
Year Ended 2/28/2021 | $22.06 | 0.29 | 11.91 | 12.20 | (0.38) | (1.90) | (2.28) |
Year Ended 2/29/2020 | $20.90 | 0.34 | 2.16 | 2.50 | (0.44) | (0.90) | (1.34) |
Year Ended 2/28/2019 | $20.39 | 0.33 | 1.12 | 1.45 | (0.35) | (0.59) | (0.94) |
Year Ended 2/28/2018 | $18.62 | 0.38 | 1.89 | 2.27 | (0.50) | — | (0.50) |
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%. |
22 | Columbia Convertible Securities Fund | Annual Report 2022 |
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 2/28/2022 | $24.32 | (8.74%) | 0.75%(c) | 0.75%(c) | 1.18% | 92% | $101,658 |
Year Ended 2/28/2021 | $32.66 | 58.95% | 0.78%(c) | 0.77%(c) | 1.74% | 98% | $136,747 |
Year Ended 2/29/2020 | $22.50 | 12.97% | 0.82%(c) | 0.77%(c) | 2.17% | 74% | $128,319 |
Year Ended 2/28/2019 | $21.28 | 8.11% | 0.84%(c) | 0.76%(c) | 2.25% | 60% | $100,142 |
Year Ended 2/28/2018 | $20.74 | 13.03% | 0.85% | 0.75% | 2.58% | 67% | $90,655 |
Class R | |||||||
Year Ended 2/28/2022 | $23.70 | (9.32%) | 1.35%(c) | 1.35%(c),(d) | 0.57% | 92% | $1,277 |
Year Ended 2/28/2021 | $31.98 | 58.04% | 1.37%(c) | 1.37%(c),(d) | 1.13% | 98% | $2,138 |
Year Ended 2/29/2020 | $22.06 | 12.23% | 1.42%(c) | 1.37%(c),(d) | 1.56% | 74% | $1,900 |
Year Ended 2/28/2019 | $20.90 | 7.44% | 1.45%(c) | 1.38%(c),(d) | 1.63% | 60% | $2,337 |
Year Ended 2/28/2018 | $20.39 | 12.38% | 1.47% | 1.37%(d) | 1.97% | 67% | $3,031 |
Columbia Convertible Securities Fund | Annual Report 2022 | 23 |
February 28, 2022
24 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
Columbia Convertible Securities Fund | Annual Report 2022 | 25 |
February 28, 2022
26 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
Columbia Convertible Securities Fund | Annual Report 2022 | 27 |
February 28, 2022
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.10 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.04 |
Institutional 3 Class | 0.00 |
Class R | 0.10 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 618,045 |
Class C | — | 1.00(b) | 7,768 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
28 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
July 1, 2021 through June 30, 2022 | Prior to July 1, 2021 | |
Class A | 1.12% | 1.13% |
Advisor Class | 0.87 | 0.88 |
Class C | 1.87 | 1.88 |
Institutional Class | 0.87 | 0.88 |
Institutional 2 Class | 0.81 | 0.81 |
Institutional 3 Class | 0.77 | 0.77 |
Class R | 1.37 | 1.38 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(1,240,738) | 1,240,738 | — |
Columbia Convertible Securities Fund | Annual Report 2022 | 29 |
February 28, 2022
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
92,206,745 | 395,681,950 | 487,888,695 | 79,779,025 | 94,625,496 | 174,404,521 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
5,200,735 | 110,939,132 | — | 98,863,923 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,941,700,299 | 237,298,905 | (138,434,982) | 98,863,923 |
Late year ordinary losses ($) | Post-October capital losses ($) |
— | 26,962,597 |
30 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 3,140,000 | 0.63 | 5 |
Lender | 200,000 | 0.69 | 1 |
Columbia Convertible Securities Fund | Annual Report 2022 | 31 |
February 28, 2022
32 | Columbia Convertible Securities Fund | Annual Report 2022 |
February 28, 2022
Columbia Convertible Securities Fund | Annual Report 2022 | 33 |
34 | Columbia Convertible Securities Fund | Annual Report 2022 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
17.11% | 17.17% | 0.12% | $388,417,477 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Convertible Securities Fund | Annual Report 2022 | 35 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
36 | Columbia Convertible Securities Fund | Annual Report 2022 |
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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
Columbia Convertible Securities Fund | Annual Report 2022 | 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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
38 | Columbia Convertible Securities Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Columbia Convertible Securities Fund | Annual Report 2022 | 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. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
40 | Columbia Convertible Securities Fund | Annual Report 2022 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
Columbia Convertible Securities Fund | Annual Report 2022 | 41 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
7 | |
8 | |
12 | |
13 | |
14 | |
16 | |
20 | |
32 | |
33 | |
33 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 08/02/99 | 17.04 | 15.11 | 14.22 |
Including sales charges | 10.34 | 13.76 | 13.54 | ||
Advisor Class* | 07/05/17 | 17.31 | 15.39 | 14.49 | |
Class C | Excluding sales charges | 08/02/99 | 16.13 | 14.27 | 13.36 |
Including sales charges | 15.13 | 14.27 | 13.36 | ||
Institutional Class | 10/02/98 | 17.28 | 15.41 | 14.50 | |
Institutional 2 Class* | 11/08/12 | 17.45 | 15.49 | 14.60 | |
Institutional 3 Class* | 03/01/17 | 17.40 | 15.56 | 14.57 | |
S&P 500 Index | 16.39 | 15.17 | 14.59 |
* | 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 Select Large Cap Equity Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 99.0 |
Money Market Funds | 1.0 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 8.9 |
Consumer Discretionary | 12.5 |
Consumer Staples | 5.7 |
Energy | 2.5 |
Financials | 11.2 |
Health Care | 13.6 |
Industrials | 10.0 |
Information Technology | 30.7 |
Real Estate | 2.0 |
Utilities | 2.9 |
Total | 100.0 |
4 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
• | Stock selection drove the Fund’s outperformance of its benchmark during the period, particularly within the information technology and communication services sectors. |
• | Within information technology, Fund positions in semiconductor manufacturer NVIDIA Corp., cybersecurity company Palo Alto Networks, Inc., software giant Microsoft Corp. and networking firm Cisco Systems, Inc. contributed most to results. Not owning benchmark constituents PayPal Holdings and Intel also contributed to relative returns, as both companies experienced negative total returns for the period. |
• | Within communication services, which was the weakest performing sector in the benchmark during the period, the Fund benefited from its position in Google parent Alphabet, Inc., which posted strong returns as well as not owning several names that weighed on the benchmark, including Meta Platforms, Walt Disney and Netflix. |
• | Other individual top contributors included oil and gas company ConocoPhillips Co., aerospace and defense company Raytheon Technologies Corp. and health benefits company Anthem, Inc. |
• | Stock selection within the consumer discretionary and health care sectors detracted the most relative to the benchmark during the period, with the Fund underperforming the benchmark in both areas. |
• | Within consumer discretionary, the Fund’s holding in retailer Gap, Inc. and the Fund’s underweight in electric vehicle company Tesla Motors, Inc. were among the Fund’s top individual detractors during the period. We exited its position in Gap in the second half of the period. |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 5 |
• | Medical devices company Medtronic PLC and medical diagnostics company Exact Sciences Corp. were among the Fund’s top detractors within the health care sector. Both positions were sold during the period. |
• | Southwest Airlines Co., in the industrials sector, also weighed on results versus the benchmark. The Fund’s position was sold. |
• | Within the communication services sector, media and communications company Comcast Corp. delivered negative results for the Fund. |
6 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 973.10 | 1,020.83 | 3.91 | 4.01 | 0.80 |
Advisor Class | 1,000.00 | 1,000.00 | 974.10 | 1,022.07 | 2.69 | 2.76 | 0.55 |
Class C | 1,000.00 | 1,000.00 | 969.60 | 1,017.11 | 7.57 | 7.75 | 1.55 |
Institutional Class | 1,000.00 | 1,000.00 | 973.70 | 1,022.07 | 2.69 | 2.76 | 0.55 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 974.70 | 1,022.46 | 2.30 | 2.36 | 0.47 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 974.70 | 1,022.66 | 2.11 | 2.16 | 0.43 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 98.3% | ||
Issuer | Shares | Value ($) |
Communication Services 8.8% | ||
Entertainment 1.3% | ||
Electronic Arts, Inc. | 133,503 | 17,367,405 |
Interactive Media & Services 5.6% | ||
Alphabet, Inc., Class C(a) | 28,322 | 76,407,658 |
Media 1.9% | ||
Comcast Corp., Class A | 550,980 | 25,763,825 |
Total Communication Services | 119,538,888 | |
Consumer Discretionary 12.2% | ||
Auto Components 0.5% | ||
Aptiv PLC(a) | 52,400 | 6,782,656 |
Automobiles 1.6% | ||
General Motors Co.(a) | 337,984 | 15,790,613 |
Tesla Motors, Inc.(a) | 6,556 | 5,706,539 |
Total | 21,497,152 | |
Hotels, Restaurants & Leisure 1.1% | ||
Hilton Worldwide Holdings, Inc.(a) | 106,322 | 15,827,093 |
Internet & Direct Marketing Retail 4.7% | ||
Amazon.com, Inc.(a) | 20,935 | 64,296,828 |
Multiline Retail 1.3% | ||
Target Corp. | 86,685 | 17,317,062 |
Specialty Retail 3.0% | ||
Home Depot, Inc. (The) | 77,339 | 24,425,976 |
TJX Companies, Inc. (The) | 246,789 | 16,312,753 |
Total | 40,738,729 | |
Total Consumer Discretionary | 166,459,520 | |
Consumer Staples 5.6% | ||
Food Products 1.6% | ||
Mondelez International, Inc., Class A | 335,535 | 21,970,832 |
Household Products 2.3% | ||
Procter & Gamble Co. (The) | 197,372 | 30,768,321 |
Tobacco 1.7% | ||
Philip Morris International, Inc. | 228,214 | 23,065,589 |
Total Consumer Staples | 75,804,742 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Energy 2.5% | ||
Oil, Gas & Consumable Fuels 2.5% | ||
ConocoPhillips Co. | 204,343 | 19,383,977 |
Valero Energy Corp. | 174,742 | 14,592,704 |
Total | 33,976,681 | |
Total Energy | 33,976,681 | |
Financials 11.0% | ||
Banks 3.1% | ||
Bank of America Corp. | 721,493 | 31,889,991 |
Popular, Inc. | 119,512 | 10,977,177 |
Total | 42,867,168 | |
Capital Markets 6.2% | ||
Charles Schwab Corp. (The) | 209,809 | 17,720,468 |
Morgan Stanley | 263,078 | 23,871,698 |
S&P Global, Inc. | 55,535 | 20,864,499 |
State Street Corp. | 249,631 | 21,301,013 |
Total | 83,757,678 | |
Insurance 1.7% | ||
MetLife, Inc. | 340,452 | 22,997,533 |
Total Financials | 149,622,379 | |
Health Care 13.4% | ||
Biotechnology 3.0% | ||
AbbVie, Inc. | 167,547 | 24,758,420 |
BioMarin Pharmaceutical, Inc.(a) | 89,937 | 7,025,879 |
Vertex Pharmaceuticals, Inc.(a) | 40,958 | 9,421,159 |
Total | 41,205,458 | |
Health Care Equipment & Supplies 1.7% | ||
Stryker Corp. | 86,579 | 22,800,579 |
Health Care Providers & Services 1.9% | ||
Anthem, Inc. | 56,499 | 25,529,073 |
Life Sciences Tools & Services 2.7% | ||
Danaher Corp. | 68,255 | 18,729,855 |
IQVIA Holdings, Inc.(a) | 77,943 | 17,936,243 |
Total | 36,666,098 |
8 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pharmaceuticals 4.1% | ||
Eli Lilly & Co. | 88,945 | 22,231,803 |
Johnson & Johnson | 206,614 | 34,002,466 |
Total | 56,234,269 | |
Total Health Care | 182,435,477 | |
Industrials 9.8% | ||
Aerospace & Defense 1.7% | ||
Raytheon Technologies Corp. | 220,317 | 22,626,556 |
Air Freight & Logistics 1.4% | ||
United Parcel Service, Inc., Class B | 92,617 | 19,488,469 |
Building Products 1.1% | ||
Trane Technologies PLC | 98,198 | 15,115,618 |
Commercial Services & Supplies 1.1% | ||
Cintas Corp. | 39,388 | 14,783,104 |
Construction & Engineering 0.7% | ||
MasTec, Inc.(a) | 123,983 | 9,764,901 |
Electrical Equipment 1.2% | ||
AMETEK, Inc. | 123,283 | 16,000,901 |
Machinery 1.1% | ||
Parker-Hannifin Corp. | 51,133 | 15,155,310 |
Road & Rail 1.5% | ||
Union Pacific Corp. | 83,975 | 20,653,651 |
Total Industrials | 133,588,510 | |
Information Technology 30.2% | ||
Communications Equipment 1.8% | ||
Cisco Systems, Inc. | 447,122 | 24,935,994 |
Electronic Equipment, Instruments & Components 1.2% | ||
TE Connectivity Ltd. | 114,891 | 16,363,925 |
IT Services 2.3% | ||
MasterCard, Inc., Class A | 84,644 | 30,541,248 |
Semiconductors & Semiconductor Equipment 6.7% | ||
Applied Materials, Inc. | 130,931 | 17,570,940 |
Broadcom, Inc. | 40,990 | 24,079,166 |
NVIDIA Corp. | 114,052 | 27,811,580 |
QUALCOMM, Inc. | 124,655 | 21,439,414 |
Total | 90,901,100 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Software 12.9% | ||
Adobe, Inc.(a) | 49,158 | 22,990,213 |
Intuit, Inc. | 34,659 | 16,441,190 |
Microsoft Corp. | 331,272 | 98,980,761 |
Palo Alto Networks, Inc.(a) | 30,862 | 18,339,743 |
ServiceNow, Inc.(a) | 33,079 | 19,183,174 |
Total | 175,935,081 | |
Technology Hardware, Storage & Peripherals 5.3% | ||
Apple, Inc.(b) | 437,404 | 72,224,149 |
Total Information Technology | 410,901,497 | |
Real Estate 2.0% | ||
Equity Real Estate Investment Trusts (REITS) 2.0% | ||
Extra Space Storage, Inc. | 75,905 | 14,281,526 |
Invitation Homes, Inc. | 333,831 | 12,618,812 |
Total | 26,900,338 | |
Total Real Estate | 26,900,338 | |
Utilities 2.8% | ||
Multi-Utilities 2.8% | ||
Ameren Corp. | 213,833 | 18,378,947 |
DTE Energy Co. | 161,875 | 19,682,381 |
Total | 38,061,328 | |
Total Utilities | 38,061,328 | |
Total Common Stocks (Cost $916,552,157) | 1,337,289,360 | |
Money Market Funds 1.0% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(c),(d) | 13,303,601 | 13,299,610 |
Total Money Market Funds (Cost $13,298,446) | 13,299,610 | |
Total Investments in Securities (Cost: $929,850,603) | 1,350,588,970 | |
Other Assets & Liabilities, Net | 8,960,366 | |
Net Assets | 1,359,549,336 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 9 |
February 28, 2022
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 50 | 03/2022 | USD | 10,920,000 | — | (177,632) |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
28,706,905 | 313,579,677 | (328,987,885) | 913 | 13,299,610 | (5,285) | 11,782 | 13,303,601 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
10 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 119,538,888 | — | — | 119,538,888 |
Consumer Discretionary | 166,459,520 | — | — | 166,459,520 |
Consumer Staples | 75,804,742 | — | — | 75,804,742 |
Energy | 33,976,681 | — | — | 33,976,681 |
Financials | 149,622,379 | — | — | 149,622,379 |
Health Care | 182,435,477 | — | — | 182,435,477 |
Industrials | 133,588,510 | — | — | 133,588,510 |
Information Technology | 410,901,497 | — | — | 410,901,497 |
Real Estate | 26,900,338 | — | — | 26,900,338 |
Utilities | 38,061,328 | — | — | 38,061,328 |
Total Common Stocks | 1,337,289,360 | — | — | 1,337,289,360 |
Money Market Funds | 13,299,610 | — | — | 13,299,610 |
Total Investments in Securities | 1,350,588,970 | — | — | 1,350,588,970 |
Investments in Derivatives | ||||
Liability | ||||
Futures Contracts | (177,632) | — | — | (177,632) |
Total | 1,350,411,338 | — | — | 1,350,411,338 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 11 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $916,552,157) | $1,337,289,360 |
Affiliated issuers (cost $13,298,446) | 13,299,610 |
Receivable for: | |
Investments sold | 7,848,988 |
Capital shares sold | 301,885 |
Dividends | 1,493,604 |
Expense reimbursement due from Investment Manager | 36,380 |
Prepaid expenses | 13,150 |
Total assets | 1,360,282,977 |
Liabilities | |
Payable for: | |
Capital shares purchased | 347,796 |
Variation margin for futures contracts | 30,000 |
Management services fees | 81,452 |
Distribution and/or service fees | 5,583 |
Transfer agent fees | 66,232 |
Compensation of board members | 174,233 |
Compensation of chief compliance officer | 223 |
Other expenses | 28,122 |
Total liabilities | 733,641 |
Net assets applicable to outstanding capital stock | $1,359,549,336 |
Represented by | |
Paid in capital | 878,189,026 |
Total distributable earnings (loss) | 481,360,310 |
Total - representing net assets applicable to outstanding capital stock | $1,359,549,336 |
Class A | |
Net assets | $235,275,831 |
Shares outstanding | 12,509,450 |
Net asset value per share | $18.81 |
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) | $19.96 |
Advisor Class | |
Net assets | $1,932,163 |
Shares outstanding | 104,248 |
Net asset value per share | $18.53 |
Class C | |
Net assets | $8,739,142 |
Shares outstanding | 520,862 |
Net asset value per share | $16.78 |
Institutional Class | |
Net assets | $214,099,604 |
Shares outstanding | 11,489,175 |
Net asset value per share | $18.63 |
Institutional 2 Class | |
Net assets | $198,954,965 |
Shares outstanding | 10,284,259 |
Net asset value per share | $19.35 |
Institutional 3 Class | |
Net assets | $700,547,631 |
Shares outstanding | 38,276,309 |
Net asset value per share | $18.30 |
12 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $18,484,591 |
Dividends — affiliated issuers | 11,782 |
Interfund lending | 167 |
Foreign taxes withheld | (54,801) |
Total income | 18,441,739 |
Expenses: | |
Management services fees | 10,024,393 |
Distribution and/or service fees | |
Class A | 607,933 |
Class C | 85,054 |
Transfer agent fees | |
Class A | 313,807 |
Advisor Class | 2,854 |
Class C | 10,973 |
Institutional Class | 275,676 |
Institutional 2 Class | 89,463 |
Institutional 3 Class | 40,388 |
Compensation of board members | 54,347 |
Custodian fees | 11,371 |
Printing and postage fees | 31,992 |
Registration fees | 103,159 |
Audit fees | 29,500 |
Legal fees | 25,731 |
Interest on collateral | 345 |
Compensation of chief compliance officer | 216 |
Other | 26,367 |
Total expenses | 11,733,569 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (4,584,489) |
Expense reduction | (560) |
Total net expenses | 7,148,520 |
Net investment income | 11,293,219 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 113,608,409 |
Investments — affiliated issuers | (5,285) |
Futures contracts | 2,792,280 |
Net realized gain | 116,395,404 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 84,088,288 |
Investments — affiliated issuers | 913 |
Futures contracts | 309,490 |
Net change in unrealized appreciation (depreciation) | 84,398,691 |
Net realized and unrealized gain | 200,794,095 |
Net increase in net assets resulting from operations | $212,087,314 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 13 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $11,293,219 | $10,317,430 |
Net realized gain | 116,395,404 | 66,723,980 |
Net change in unrealized appreciation (depreciation) | 84,398,691 | 166,814,171 |
Net increase in net assets resulting from operations | 212,087,314 | 243,855,581 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (17,789,878) | (13,886,746) |
Advisor Class | (174,654) | (98,725) |
Class C | (637,088) | (537,915) |
Institutional Class | (16,826,301) | (11,261,374) |
Institutional 2 Class | (12,046,628) | (5,423,544) |
Institutional 3 Class | (57,623,422) | (34,366,164) |
Total distributions to shareholders | (105,097,971) | (65,574,468) |
Increase in net assets from capital stock activity | 31,469,851 | 365,045,971 |
Total increase in net assets | 138,459,194 | 543,327,084 |
Net assets at beginning of year | 1,221,090,142 | 677,763,058 |
Net assets at end of year | $1,359,549,336 | $1,221,090,142 |
14 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,275,138 | 24,825,167 | 2,634,765 | 39,435,220 |
Distributions reinvested | 338,444 | 6,673,124 | 322,834 | 5,048,030 |
Redemptions | (1,605,606) | (31,071,032) | (1,408,709) | (21,385,270) |
Net increase | 7,976 | 427,259 | 1,548,890 | 23,097,980 |
Advisor Class | ||||
Subscriptions | 57,976 | 1,077,177 | 87,383 | 1,328,743 |
Distributions reinvested | 8,984 | 174,378 | 6,288 | 98,506 |
Redemptions | (61,135) | (1,178,243) | (229,948) | (3,191,942) |
Net increase (decrease) | 5,825 | 73,312 | (136,277) | (1,764,693) |
Class C | ||||
Subscriptions | 105,380 | 1,870,662 | 133,822 | 1,686,630 |
Distributions reinvested | 31,956 | 563,770 | 33,333 | 469,014 |
Redemptions | (110,967) | (1,935,215) | (140,027) | (1,887,046) |
Net increase | 26,369 | 499,217 | 27,128 | 268,598 |
Institutional Class | ||||
Subscriptions | 2,429,962 | 46,730,851 | 1,941,261 | 29,312,136 |
Distributions reinvested | 807,948 | 15,787,253 | 665,332 | 10,341,642 |
Redemptions | (1,642,468) | (31,747,662) | (1,624,633) | (24,722,844) |
Net increase | 1,595,442 | 30,770,442 | 981,960 | 14,930,934 |
Institutional 2 Class | ||||
Subscriptions | 5,530,357 | 109,586,321 | 6,299,742 | 104,004,042 |
Distributions reinvested | 592,170 | 12,046,628 | 327,061 | 5,423,544 |
Redemptions | (1,597,524) | (32,564,052) | (2,425,693) | (40,064,935) |
Net increase | 4,525,003 | 89,068,897 | 4,201,110 | 69,362,651 |
Institutional 3 Class | ||||
Subscriptions | 2,765,887 | 53,592,290 | 20,553,142 | 316,958,657 |
Distributions reinvested | 2,732,037 | 52,418,462 | 1,835,143 | 27,989,030 |
Redemptions | (10,204,800) | (195,380,028) | (5,667,507) | (85,797,186) |
Net increase (decrease) | (4,706,876) | (89,369,276) | 16,720,778 | 259,150,501 |
Total net increase | 1,453,739 | 31,469,851 | 23,343,589 | 365,045,971 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 15 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2022 | $17.28 | 0.11 | 2.88 | 2.99 | (0.15) | (1.31) | (1.46) |
Year Ended 2/28/2021 | $14.22 | 0.14 | 4.08 | 4.22 | (0.21) | (0.95) | (1.16) |
Year Ended 2/29/2020 | $13.95 | 0.24 | 0.77 | 1.01 | (0.12) | (0.62) | (0.74) |
Year Ended 2/28/2019 | $14.82 | 0.16 | 0.33 | 0.49 | (0.14) | (1.22) | (1.36) |
Year Ended 2/28/2018 | $13.16 | 0.09 | 2.36 | 2.45 | (0.08) | (0.71) | (0.79) |
Advisor Class | |||||||
Year Ended 2/28/2022 | $17.04 | 0.15 | 2.84 | 2.99 | (0.19) | (1.31) | (1.50) |
Year Ended 2/28/2021 | $14.04 | 0.18 | 4.02 | 4.20 | (0.25) | (0.95) | (1.20) |
Year Ended 2/29/2020 | $13.78 | 0.26 | 0.78 | 1.04 | (0.16) | (0.62) | (0.78) |
Year Ended 2/28/2019 | $14.66 | 0.20 | 0.33 | 0.53 | (0.19) | (1.22) | (1.41) |
Year Ended 2/28/2018(e) | $13.61 | 0.11 | 1.63 | 1.74 | (0.10) | (0.59) | (0.69) |
Class C | |||||||
Year Ended 2/28/2022 | $15.58 | (0.04) | 2.60 | 2.56 | (0.05) | (1.31) | (1.36) |
Year Ended 2/28/2021 | $12.92 | 0.03 | 3.69 | 3.72 | (0.11) | (0.95) | (1.06) |
Year Ended 2/29/2020 | $12.74 | 0.11 | 0.71 | 0.82 | (0.02) | (0.62) | (0.64) |
Year Ended 2/28/2019 | $13.64 | 0.05 | 0.31 | 0.36 | (0.04) | (1.22) | (1.26) |
Year Ended 2/28/2018 | $12.18 | (0.02) | 2.19 | 2.17 | — | (0.71) | (0.71) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $17.13 | 0.15 | 2.85 | 3.00 | (0.19) | (1.31) | (1.50) |
Year Ended 2/28/2021 | $14.10 | 0.18 | 4.05 | 4.23 | (0.25) | (0.95) | (1.20) |
Year Ended 2/29/2020 | $13.84 | 0.26 | 0.78 | 1.04 | (0.16) | (0.62) | (0.78) |
Year Ended 2/28/2019 | $14.71 | 0.19 | 0.34 | 0.53 | (0.18) | (1.22) | (1.40) |
Year Ended 2/28/2018 | $13.06 | 0.12 | 2.35 | 2.47 | (0.11) | (0.71) | (0.82) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $17.73 | 0.17 | 2.97 | 3.14 | (0.21) | (1.31) | (1.52) |
Year Ended 2/28/2021 | $14.55 | 0.21 | 4.18 | 4.39 | (0.26) | (0.95) | (1.21) |
Year Ended 2/29/2020 | $14.26 | 0.29 | 0.79 | 1.08 | (0.17) | (0.62) | (0.79) |
Year Ended 2/28/2019 | $15.11 | 0.22 | 0.34 | 0.56 | (0.19) | (1.22) | (1.41) |
Year Ended 2/28/2018 | $13.41 | 0.13 | 2.40 | 2.53 | (0.12) | (0.71) | (0.83) |
16 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
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 2/28/2022 | $18.81 | 17.04% | 1.12%(c) | 0.79%(c),(d) | 0.54% | 58% | $235,276 |
Year Ended 2/28/2021 | $17.28 | 30.70% | 1.16%(c) | 0.79%(c),(d) | 0.92% | 64% | $216,047 |
Year Ended 2/29/2020 | $14.22 | 7.30% | 1.18% | 0.80%(d) | 1.63% | 46% | $155,699 |
Year Ended 2/28/2019 | $13.95 | 3.61% | 1.19% | 0.80%(d) | 1.10% | 62% | $151,703 |
Year Ended 2/28/2018 | $14.82 | 18.87% | 1.19% | 1.13%(d) | 0.61% | 45% | $149,489 |
Advisor Class | |||||||
Year Ended 2/28/2022 | $18.53 | 17.31% | 0.87%(c) | 0.54%(c),(d) | 0.79% | 58% | $1,932 |
Year Ended 2/28/2021 | $17.04 | 30.96% | 0.91%(c) | 0.54%(c),(d) | 1.18% | 64% | $1,678 |
Year Ended 2/29/2020 | $14.04 | 7.58% | 0.93% | 0.55%(d) | 1.81% | 46% | $3,294 |
Year Ended 2/28/2019 | $13.78 | 3.88% | 0.94% | 0.55%(d) | 1.45% | 62% | $3,143 |
Year Ended 2/28/2018(e) | $14.66 | 12.96% | 0.97%(f) | 0.69%(d),(f) | 1.17%(f) | 45% | $240 |
Class C | |||||||
Year Ended 2/28/2022 | $16.78 | 16.13% | 1.87%(c) | 1.54%(c),(d) | (0.21%) | 58% | $8,739 |
Year Ended 2/28/2021 | $15.58 | 29.82% | 1.91%(c) | 1.54%(c),(d) | 0.18% | 64% | $7,703 |
Year Ended 2/29/2020 | $12.92 | 6.45% | 1.93% | 1.55%(d) | 0.83% | 46% | $6,040 |
Year Ended 2/28/2019 | $12.74 | 2.85% | 1.94% | 1.55%(d) | 0.34% | 62% | $7,783 |
Year Ended 2/28/2018 | $13.64 | 18.03% | 1.94% | 1.87%(d) | (0.15%) | 45% | $8,199 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $18.63 | 17.28% | 0.87%(c) | 0.54%(c),(d) | 0.79% | 58% | $214,100 |
Year Ended 2/28/2021 | $17.13 | 31.04% | 0.91%(c) | 0.54%(c),(d) | 1.18% | 64% | $169,476 |
Year Ended 2/29/2020 | $14.10 | 7.54% | 0.93% | 0.55%(d) | 1.76% | 46% | $125,623 |
Year Ended 2/28/2019 | $13.84 | 3.90% | 0.94% | 0.55%(d) | 1.34% | 62% | $158,057 |
Year Ended 2/28/2018 | $14.71 | 19.21% | 0.94% | 0.88%(d) | 0.86% | 45% | $170,394 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $19.35 | 17.45% | 0.80%(c) | 0.47%(c) | 0.85% | 58% | $198,955 |
Year Ended 2/28/2021 | $17.73 | 31.20% | 0.83%(c) | 0.46%(c) | 1.26% | 64% | $102,131 |
Year Ended 2/29/2020 | $14.55 | 7.61% | 0.85% | 0.46% | 1.97% | 46% | $22,676 |
Year Ended 2/28/2019 | $14.26 | 4.01% | 0.84% | 0.46% | 1.53% | 62% | $19,466 |
Year Ended 2/28/2018 | $15.11 | 19.15% | 0.86% | 0.80% | 0.90% | 45% | $10,777 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $16.85 | 0.17 | 2.81 | 2.98 | (0.22) | (1.31) | (1.53) |
Year Ended 2/28/2021 | $13.88 | 0.20 | 3.98 | 4.18 | (0.26) | (0.95) | (1.21) |
Year Ended 2/29/2020 | $13.63 | 0.29 | 0.76 | 1.05 | (0.18) | (0.62) | (0.80) |
Year Ended 2/28/2019 | $14.51 | 0.21 | 0.33 | 0.54 | (0.20) | (1.22) | (1.42) |
Year Ended 2/28/2018(g) | $13.08 | 0.14 | 2.13 | 2.27 | (0.13) | (0.71) | (0.84) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Advisor Class shares commenced operations on July 5, 2017. Per share data and total return reflect activity from that date. |
(f) | Annualized. |
(g) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
18 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
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 2/28/2022 | $18.30 | 17.40% | 0.75%(c) | 0.42%(c) | 0.92% | 58% | $700,548 |
Year Ended 2/28/2021 | $16.85 | 31.26% | 0.78%(c) | 0.41%(c) | 1.29% | 64% | $724,055 |
Year Ended 2/29/2020 | $13.88 | 7.72% | 0.80% | 0.42% | 2.04% | 46% | $364,432 |
Year Ended 2/28/2019 | $13.63 | 4.02% | 0.80% | 0.43% | 1.48% | 62% | $340,760 |
Year Ended 2/28/2018(g) | $14.51 | 17.63% | 0.81% | 0.76% | 0.98% | 45% | $330,311 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 19 |
February 28, 2022
20 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 21 |
February 28, 2022
22 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 177,632* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 2,792,280 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 309,490 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 9,581,345 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2022. |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 23 |
February 28, 2022
24 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
9,038,802 | — | — |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 25 |
February 28, 2022
Effective rate (%) | |
Class A | 0.13 |
Advisor Class | 0.13 |
Class C | 0.13 |
Institutional Class | 0.13 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 106,862 |
Class C | — | 1.00(b) | 23 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
26 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
July 1, 2021 through June 30, 2022 | Prior to July 1, 2021 | |
Class A | 0.80% | 0.80% |
Advisor Class | 0.55 | 0.55 |
Class C | 1.55 | 1.55 |
Institutional Class | 0.55 | 0.55 |
Institutional 2 Class | 0.48 | 0.46 |
Institutional 3 Class | 0.43 | 0.41 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(15,061) | 15,061 | — |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 27 |
February 28, 2022
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
54,145,783 | 50,952,188 | 105,097,971 | 13,508,359 | 52,066,109 | 65,574,468 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
16,325,955 | 46,201,948 | — | 419,004,708 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
931,406,630 | 444,887,804 | (25,883,096) | 419,004,708 |
28 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 3,066,667 | 0.66 | 3 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 29 |
February 28, 2022
30 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
February 28, 2022
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 31 |
32 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
41.90% | 39.08% | 0.82% | $80,239,839 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 33 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
34 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
36 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 37 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
38 | Columbia Select Large Cap Equity Fund | Annual Report 2022 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
Columbia Select Large Cap Equity Fund | Annual Report 2022 | 39 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
7 | |
8 | |
19 | |
20 | |
21 | |
22 | |
24 | |
35 | |
36 | |
36 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 10/10/95 | 15.86 | 14.65 | 14.08 | |
Institutional Class | 12/15/93 | 16.15 | 14.94 | 14.36 | |
Institutional 2 Class* | 11/08/12 | 16.15 | 14.94 | 14.36 | |
Institutional 3 Class* | 03/01/17 | 16.17 | 14.95 | 14.37 | |
S&P 500 Index | 16.39 | 15.17 | 14.59 |
* | 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 Large Cap Index Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 98.6 |
Money Market Funds | 1.4 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 9.6 |
Consumer Discretionary | 11.8 |
Consumer Staples | 6.2 |
Energy | 3.7 |
Financials | 11.6 |
Health Care | 13.3 |
Industrials | 7.9 |
Information Technology | 28.1 |
Materials | 2.6 |
Real Estate | 2.6 |
Utilities | 2.6 |
Total | 100.0 |
4 | Columbia Large Cap Index Fund | Annual Report 2022 |
Columbia Large Cap Index Fund | Annual Report 2022 | 5 |
• | Communication services was the only sector in the S&P 500 Index to post a negative total return during the annual period. The consumer discretionary and industrials sectors were also weak, but each generated a single-digit positive total return during the annual period. |
• | On the basis of impact, communication services, materials and utilities were the weakest sectors. |
• | The worst performing industries for the annual period on the basis of total return were entertainment; airlines; independent power and renewable electricity producers; auto components; and media. |
• | Top individual detractors were digital payments technology platform PayPal Holdings, Inc.; social media giant formerly known as Facebook, Meta Platforms, Inc.-Class A; diversified media and entertainment company The Walt Disney Co.; entertainment content streaming service Netflix, Inc.; and semiconductor bellwether Intel Corp. |
• | In terms of total return, the energy sector was the best relative performer, followed at some distance by the real estate and consumer staples sectors. |
• | On the basis of impact, which takes weighting and total returns into account, the information technology sector was the biggest contributor to the Index’s return, followed by health care and financials. |
• | The top performing industries for the annual period on the basis of total return were oil, gas and consumable fuels; metals and mining; health care providers and services; energy equipment and services; and health care technology. |
• | Top individual contributors within the S&P 500 Index during the annual period included information technology giants Apple Inc., Microsoft Corp. and Alphabet Inc.; semiconductor producer NVIDIA Corp.; and health care plan provider UnitedHealth Group Inc. |
• | Information technology remained the largest sector by weighting in the S&P 500 Index as of February 28, 2022, with a weighting of 28.12%. |
• | As always, each sector and stock in the S&P 500 Index was represented in the Fund with approximately the same weighting as in the Index and therefore had a similar effect. |
6 | Columbia Large Cap Index Fund | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 971.70 | 1,022.56 | 2.20 | 2.26 | 0.45 |
Institutional Class | 1,000.00 | 1,000.00 | 972.80 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 972.70 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 972.90 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Columbia Large Cap Index Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 98.6% | ||
Issuer | Shares | Value ($) |
Communication Services 9.5% | ||
Diversified Telecommunication Services 1.1% | ||
AT&T, Inc. | 661,356 | 15,667,523 |
Lumen Technologies, Inc. | 85,344 | 884,164 |
Verizon Communications, Inc. | 383,437 | 20,579,064 |
Total | 37,130,751 | |
Entertainment 1.5% | ||
Activision Blizzard, Inc. | 72,136 | 5,879,084 |
Electronic Arts, Inc. | 26,192 | 3,407,317 |
Live Nation Entertainment, Inc.(a) | 12,511 | 1,511,579 |
Netflix, Inc.(a) | 41,024 | 16,184,789 |
Take-Two Interactive Software, Inc.(a) | 10,678 | 1,729,836 |
Walt Disney Co. (The)(a) | 168,291 | 24,984,482 |
Total | 53,697,087 | |
Interactive Media & Services 5.7% | ||
Alphabet, Inc., Class A(a) | 27,859 | 75,251,059 |
Alphabet, Inc., Class C(a) | 25,896 | 69,862,747 |
Match Group, Inc.(a) | 26,218 | 2,923,045 |
Meta Platforms, Inc., Class A(a) | 219,150 | 46,247,225 |
Twitter, Inc.(a) | 74,055 | 2,632,655 |
Total | 196,916,731 | |
Media 1.0% | ||
Charter Communications, Inc., Class A(a) | 11,457 | 6,894,593 |
Comcast Corp., Class A | 422,271 | 19,745,392 |
Discovery, Inc., Class A(a) | 15,671 | 439,572 |
Discovery, Inc., Class C(a) | 28,130 | 786,796 |
DISH Network Corp., Class A(a) | 23,126 | 739,107 |
Fox Corp., Class A | 29,669 | 1,241,054 |
Fox Corp., Class B | 13,619 | 521,063 |
Interpublic Group of Companies, Inc. (The) | 36,467 | 1,341,986 |
News Corp., Class A | 36,401 | 812,470 |
News Corp., Class B | 11,278 | 252,966 |
Omnicom Group, Inc. | 19,686 | 1,651,458 |
Paramount Global, Class B | 56,189 | 1,719,945 |
Total | 36,146,402 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Wireless Telecommunication Services 0.2% | ||
T-Mobile USA, Inc.(a) | 54,369 | 6,698,804 |
Total Communication Services | 330,589,775 | |
Consumer Discretionary 11.7% | ||
Auto Components 0.1% | ||
Aptiv PLC(a) | 25,053 | 3,242,860 |
BorgWarner, Inc. | 22,206 | 910,668 |
Total | 4,153,528 | |
Automobiles 2.3% | ||
Ford Motor Co. | 363,545 | 6,383,850 |
General Motors Co.(a) | 134,462 | 6,282,065 |
Tesla Motors, Inc.(a) | 75,337 | 65,575,585 |
Total | 78,241,500 | |
Distributors 0.1% | ||
Genuine Parts Co. | 13,190 | 1,611,290 |
LKQ Corp. | 24,836 | 1,166,050 |
Pool Corp. | 3,713 | 1,702,708 |
Total | 4,480,048 | |
Hotels, Restaurants & Leisure 1.9% | ||
Booking Holdings, Inc.(a) | 3,803 | 8,261,067 |
Caesars Entertainment, Inc.(a) | 19,798 | 1,666,794 |
Carnival Corp.(a) | 74,504 | 1,514,666 |
Chipotle Mexican Grill, Inc.(a) | 2,606 | 3,969,850 |
Darden Restaurants, Inc. | 12,020 | 1,745,544 |
Domino’s Pizza, Inc. | 3,370 | 1,456,548 |
Expedia Group, Inc.(a) | 13,522 | 2,651,800 |
Hilton Worldwide Holdings, Inc.(a) | 25,814 | 3,842,672 |
Las Vegas Sands Corp.(a) | 31,840 | 1,364,662 |
Marriott International, Inc., Class A(a) | 25,337 | 4,310,837 |
McDonald’s Corp. | 69,205 | 16,939,308 |
MGM Resorts International | 36,049 | 1,596,610 |
Norwegian Cruise Line Holdings Ltd.(a) | 34,270 | 667,922 |
Penn National Gaming, Inc.(a) | 15,385 | 790,020 |
Royal Caribbean Cruises Ltd.(a) | 20,765 | 1,676,151 |
Starbucks Corp. | 109,284 | 10,031,178 |
8 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Wynn Resorts Ltd.(a) | 9,747 | 843,311 |
Yum! Brands, Inc. | 27,148 | 3,327,802 |
Total | 66,656,742 | |
Household Durables 0.4% | ||
D.R. Horton, Inc. | 30,187 | 2,577,970 |
Garmin Ltd. | 14,071 | 1,554,001 |
Lennar Corp., Class A | 25,177 | 2,262,909 |
Mohawk Industries, Inc.(a) | 5,081 | 715,303 |
Newell Brands, Inc. | 35,064 | 832,770 |
NVR, Inc.(a) | 303 | 1,502,407 |
PulteGroup, Inc. | 23,449 | 1,164,478 |
Whirlpool Corp. | 5,626 | 1,132,345 |
Total | 11,742,183 | |
Internet & Direct Marketing Retail 3.7% | ||
Amazon.com, Inc.(a) | 40,393 | 124,057,405 |
eBay, Inc. | 57,977 | 3,164,965 |
Etsy, Inc.(a) | 11,742 | 1,818,718 |
Total | 129,041,088 | |
Leisure Products 0.0% | ||
Hasbro, Inc. | 12,009 | 1,165,473 |
Multiline Retail 0.5% | ||
Dollar General Corp. | 21,608 | 4,285,731 |
Dollar Tree, Inc.(a) | 20,830 | 2,959,526 |
Target Corp. | 45,199 | 9,029,404 |
Total | 16,274,661 | |
Specialty Retail 2.1% | ||
Advance Auto Parts, Inc. | 5,835 | 1,193,141 |
AutoZone, Inc.(a) | 1,942 | 3,618,703 |
Bath & Body Works, Inc. | 24,485 | 1,306,764 |
Best Buy Co., Inc. | 20,502 | 1,981,313 |
CarMax, Inc.(a) | 15,014 | 1,641,481 |
Home Depot, Inc. (The) | 97,741 | 30,869,540 |
Lowe’s Companies, Inc. | 64,129 | 14,176,357 |
O’Reilly Automotive, Inc.(a) | 6,240 | 4,051,258 |
Ross Stores, Inc. | 32,912 | 3,007,828 |
TJX Companies, Inc. (The) | 111,372 | 7,361,689 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Tractor Supply Co. | 10,541 | 2,148,150 |
Ulta Beauty, Inc.(a) | 5,034 | 1,885,233 |
Total | 73,241,457 | |
Textiles, Apparel & Luxury Goods 0.6% | ||
NIKE, Inc., Class B | 118,343 | 16,159,737 |
PVH Corp. | 6,580 | 644,116 |
Ralph Lauren Corp. | 4,514 | 596,029 |
Tapestry, Inc. | 25,482 | 1,042,214 |
Under Armour, Inc., Class A(a) | 17,471 | 312,556 |
Under Armour, Inc., Class C(a) | 19,918 | 311,318 |
VF Corp. | 30,193 | 1,751,798 |
Total | 20,817,768 | |
Total Consumer Discretionary | 405,814,448 | |
Consumer Staples 6.1% | ||
Beverages 1.5% | ||
Brown-Forman Corp., Class B | 16,924 | 1,103,952 |
Coca-Cola Co. (The) | 360,034 | 22,408,516 |
Constellation Brands, Inc., Class A | 15,213 | 3,280,227 |
Molson Coors Beverage Co., Class B | 17,449 | 910,489 |
Monster Beverage Corp.(a) | 34,794 | 2,936,614 |
PepsiCo, Inc. | 128,053 | 20,967,398 |
Total | 51,607,196 | |
Food & Staples Retailing 1.4% | ||
Costco Wholesale Corp. | 40,919 | 21,247,191 |
Kroger Co. (The) | 62,673 | 2,933,096 |
Sysco Corp. | 47,479 | 4,135,421 |
Walgreens Boots Alliance, Inc. | 66,539 | 3,066,783 |
Walmart, Inc. | 131,709 | 17,801,788 |
Total | 49,184,279 | |
Food Products 1.0% | ||
Archer-Daniels-Midland Co. | 51,812 | 4,064,651 |
Campbell Soup Co. | 18,746 | 843,008 |
ConAgra Foods, Inc. | 44,426 | 1,553,577 |
General Mills, Inc. | 56,095 | 3,782,486 |
Hershey Co. (The) | 13,465 | 2,723,431 |
Hormel Foods Corp. | 26,129 | 1,244,786 |
JM Smucker Co. (The) | 10,036 | 1,352,351 |
Kellogg Co. | 23,695 | 1,515,058 |
Columbia Large Cap Index Fund | Annual Report 2022 | 9 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Kraft Heinz Co. (The) | 65,751 | 2,578,754 |
Lamb Weston Holdings, Inc. | 13,528 | 898,665 |
McCormick & Co., Inc. | 23,093 | 2,197,761 |
Mondelez International, Inc., Class A | 129,194 | 8,459,623 |
Tyson Foods, Inc., Class A | 27,304 | 2,529,989 |
Total | 33,744,140 | |
Household Products 1.4% | ||
Church & Dwight Co., Inc. | 22,611 | 2,212,486 |
Clorox Co. (The) | 11,379 | 1,658,944 |
Colgate-Palmolive Co. | 78,060 | 6,006,717 |
Kimberly-Clark Corp. | 31,185 | 4,058,728 |
Procter & Gamble Co. (The) | 224,121 | 34,938,223 |
Total | 48,875,098 | |
Personal Products 0.2% | ||
Estee Lauder Companies, Inc. (The), Class A | 21,459 | 6,358,946 |
Tobacco 0.6% | ||
Altria Group, Inc. | 170,131 | 8,726,019 |
Philip Morris International, Inc. | 144,184 | 14,572,677 |
Total | 23,298,696 | |
Total Consumer Staples | 213,068,355 | |
Energy 3.6% | ||
Energy Equipment & Services 0.3% | ||
Baker Hughes Co. | 80,950 | 2,378,311 |
Halliburton Co. | 82,900 | 2,779,637 |
Schlumberger NV | 129,903 | 5,097,394 |
Total | 10,255,342 | |
Oil, Gas & Consumable Fuels 3.3% | ||
APA Corp. | 33,644 | 1,198,736 |
Chevron Corp. | 178,530 | 25,708,320 |
ConocoPhillips Co. | 122,153 | 11,587,434 |
Coterra Energy, Inc. | 75,349 | 1,757,892 |
Devon Energy Corp. | 58,311 | 3,472,420 |
Diamondback Energy, Inc. | 15,773 | 2,178,251 |
EOG Resources, Inc. | 54,187 | 6,227,170 |
Exxon Mobil Corp.(b) | 392,087 | 30,747,463 |
Hess Corp. | 25,530 | 2,580,062 |
Kinder Morgan, Inc. | 180,596 | 3,142,370 |
Marathon Oil Corp. | 72,103 | 1,626,644 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Marathon Petroleum Corp. | 57,012 | 4,439,524 |
Occidental Petroleum Corp. | 82,175 | 3,593,513 |
ONEOK, Inc. | 41,300 | 2,696,890 |
Phillips 66 | 40,581 | 3,418,543 |
Pioneer Natural Resources Co. | 21,027 | 5,038,069 |
Valero Energy Corp. | 37,864 | 3,162,023 |
Williams Companies, Inc. (The) | 112,529 | 3,519,907 |
Total | 116,095,231 | |
Total Energy | 126,350,573 | |
Financials 11.4% | ||
Banks 4.2% | ||
Bank of America Corp. | 667,005 | 29,481,621 |
Citigroup, Inc. | 183,771 | 10,884,756 |
Citizens Financial Group, Inc. | 39,472 | 2,069,122 |
Comerica, Inc. | 12,146 | 1,159,822 |
Fifth Third Bancorp | 63,325 | 3,029,468 |
First Republic Bank | 16,602 | 2,876,463 |
Huntington Bancshares, Inc. | 133,962 | 2,079,090 |
JPMorgan Chase & Co. | 273,699 | 38,810,518 |
KeyCorp | 86,229 | 2,161,761 |
M&T Bank Corp. | 11,918 | 2,171,817 |
People’s United Financial, Inc. | 39,641 | 835,632 |
PNC Financial Services Group, Inc. (The) | 39,142 | 7,799,043 |
Regions Financial Corp. | 88,287 | 2,135,663 |
Signature Bank | 5,615 | 1,936,557 |
SVB Financial Group(a) | 5,435 | 3,293,610 |
Truist Financial Corp. | 123,630 | 7,692,259 |
U.S. Bancorp | 124,968 | 7,065,691 |
Wells Fargo & Co. | 369,273 | 19,708,100 |
Zions Bancorp | 14,491 | 1,027,267 |
Total | 146,218,260 | |
Capital Markets 3.0% | ||
Ameriprise Financial, Inc.(c) | 10,363 | 3,106,724 |
Bank of New York Mellon Corp. (The) | 70,364 | 3,739,847 |
BlackRock, Inc. | 13,225 | 9,837,945 |
Cboe Global Markets, Inc. | 9,877 | 1,158,473 |
Charles Schwab Corp. (The) | 139,234 | 11,759,704 |
CME Group, Inc. | 33,285 | 7,872,901 |
Factset Research Systems, Inc. | 3,486 | 1,415,630 |
10 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Franklin Resources, Inc. | 26,025 | 773,723 |
Goldman Sachs Group, Inc. (The) | 31,439 | 10,729,816 |
Intercontinental Exchange, Inc. | 52,179 | 6,685,174 |
Invesco Ltd. | 31,608 | 671,354 |
MarketAxess Holdings, Inc. | 3,522 | 1,343,396 |
Moody’s Corp. | 14,979 | 4,823,687 |
Morgan Stanley | 132,950 | 12,063,883 |
MSCI, Inc. | 7,636 | 3,830,905 |
Nasdaq, Inc. | 10,841 | 1,855,437 |
Northern Trust Corp. | 19,232 | 2,190,525 |
Raymond James Financial, Inc. | 17,153 | 1,880,826 |
S&P Global, Inc. | 32,803 | 12,324,089 |
State Street Corp. | 33,862 | 2,889,445 |
T. Rowe Price Group, Inc. | 20,815 | 3,009,016 |
Total | 103,962,500 | |
Consumer Finance 0.6% | ||
American Express Co. | 58,105 | 11,303,747 |
Capital One Financial Corp. | 39,419 | 6,041,750 |
Discover Financial Services | 27,143 | 3,350,532 |
Synchrony Financial | 50,684 | 2,168,262 |
Total | 22,864,291 | |
Diversified Financial Services 1.6% | ||
Berkshire Hathaway, Inc., Class B(a) | 169,611 | 54,521,456 |
Insurance 2.0% | ||
Aflac, Inc. | 56,365 | 3,443,337 |
Allstate Corp. (The) | 26,550 | 3,248,658 |
American International Group, Inc. | 76,897 | 4,709,172 |
Aon PLC, Class A | 20,406 | 5,961,409 |
Arthur J Gallagher & Co. | 19,197 | 3,036,773 |
Assurant, Inc. | 5,277 | 895,560 |
Brown & Brown, Inc. | 21,710 | 1,467,813 |
Chubb Ltd. | 39,893 | 8,123,811 |
Cincinnati Financial Corp. | 13,879 | 1,704,202 |
Everest Re Group Ltd. | 3,646 | 1,087,310 |
Globe Life, Inc. | 8,604 | 868,660 |
Hartford Financial Services Group, Inc. (The) | 31,521 | 2,190,079 |
Lincoln National Corp. | 15,732 | 1,060,651 |
Loews Corp. | 18,561 | 1,138,532 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Marsh & McLennan Companies, Inc. | 46,760 | 7,266,972 |
MetLife, Inc. | 66,218 | 4,473,026 |
Principal Financial Group, Inc. | 22,831 | 1,612,782 |
Progressive Corp. (The) | 54,185 | 5,739,817 |
Prudential Financial, Inc. | 35,008 | 3,908,993 |
Travelers Companies, Inc. (The) | 22,784 | 3,914,975 |
Willis Towers Watson PLC | 11,540 | 2,565,342 |
WR Berkley Corp. | 12,924 | 1,167,037 |
Total | 69,584,911 | |
Total Financials | 397,151,418 | |
Health Care 13.2% | ||
Biotechnology 1.8% | ||
AbbVie, Inc. | 163,730 | 24,194,382 |
Amgen, Inc. | 52,166 | 11,814,556 |
Biogen, Inc.(a) | 13,604 | 2,870,580 |
Gilead Sciences, Inc. | 116,173 | 7,016,849 |
Incyte Corp.(a) | 17,389 | 1,187,669 |
Moderna, Inc.(a) | 32,669 | 5,017,958 |
Regeneron Pharmaceuticals, Inc.(a) | 9,791 | 6,054,363 |
Vertex Pharmaceuticals, Inc.(a) | 23,547 | 5,416,281 |
Total | 63,572,638 | |
Health Care Equipment & Supplies 3.0% | ||
Abbott Laboratories | 163,768 | 19,753,696 |
ABIOMED, Inc.(a) | 4,214 | 1,309,458 |
Align Technology, Inc.(a) | 6,792 | 3,473,836 |
Baxter International, Inc. | 46,371 | 3,940,144 |
Becton Dickinson and Co. | 26,598 | 7,215,506 |
Boston Scientific Corp.(a) | 131,974 | 5,829,292 |
Cooper Companies, Inc. (The) | 4,566 | 1,867,585 |
Dentsply Sirona, Inc. | 20,246 | 1,096,118 |
DexCom, Inc.(a) | 8,976 | 3,715,256 |
Edwards Lifesciences Corp.(a) | 57,822 | 6,497,458 |
Hologic, Inc.(a) | 23,476 | 1,670,787 |
IDEXX Laboratories, Inc.(a) | 7,853 | 4,180,545 |
Intuitive Surgical, Inc.(a) | 33,061 | 9,598,600 |
Medtronic PLC | 124,641 | 13,086,059 |
ResMed, Inc. | 13,496 | 3,330,138 |
STERIS PLC | 9,264 | 2,223,360 |
Stryker Corp. | 31,095 | 8,188,868 |
Columbia Large Cap Index Fund | Annual Report 2022 | 11 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Teleflex, Inc. | 4,338 | 1,458,913 |
West Pharmaceutical Services, Inc. | 6,861 | 2,655,756 |
Zimmer Biomet Holdings, Inc. | 19,348 | 2,460,872 |
Total | 103,552,247 | |
Health Care Providers & Services 2.9% | ||
AmerisourceBergen Corp. | 13,856 | 1,974,896 |
Anthem, Inc. | 22,479 | 10,157,136 |
Cardinal Health, Inc. | 26,097 | 1,409,499 |
Centene Corp.(a) | 54,040 | 4,464,785 |
Cigna Corp. | 30,695 | 7,298,657 |
CVS Health Corp. | 122,256 | 12,671,835 |
DaVita, Inc.(a) | 6,040 | 681,131 |
HCA Healthcare, Inc. | 22,180 | 5,551,876 |
Henry Schein, Inc.(a) | 12,843 | 1,109,378 |
Humana, Inc. | 11,904 | 5,170,145 |
Laboratory Corp. of America Holdings(a) | 8,863 | 2,404,177 |
McKesson Corp. | 14,140 | 3,887,934 |
Quest Diagnostics, Inc. | 11,361 | 1,491,359 |
UnitedHealth Group, Inc. | 87,228 | 41,509,188 |
Universal Health Services, Inc., Class B | 6,772 | 974,694 |
Total | 100,756,690 | |
Health Care Technology 0.1% | ||
Cerner Corp. | 27,249 | 2,540,969 |
Life Sciences Tools & Services 1.7% | ||
Agilent Technologies, Inc. | 28,036 | 3,654,773 |
Bio-Rad Laboratories, Inc., Class A(a) | 2,001 | 1,252,546 |
Bio-Techne Corp. | 3,639 | 1,526,233 |
Charles River Laboratories International, Inc.(a) | 4,674 | 1,360,882 |
Danaher Corp. | 58,900 | 16,162,749 |
Illumina, Inc.(a) | 14,476 | 4,727,861 |
IQVIA Holdings, Inc.(a) | 17,693 | 4,071,513 |
Mettler-Toledo International, Inc.(a) | 2,129 | 2,999,207 |
PerkinElmer, Inc. | 11,688 | 2,099,282 |
Thermo Fisher Scientific, Inc. | 36,494 | 19,852,736 |
Waters Corp.(a) | 5,653 | 1,790,475 |
Total | 59,498,257 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pharmaceuticals 3.7% | ||
Bristol-Myers Squibb Co. | 205,570 | 14,116,492 |
Catalent, Inc.(a) | 15,854 | 1,617,742 |
Eli Lilly & Co. | 73,533 | 18,379,573 |
Johnson & Johnson | 243,815 | 40,124,635 |
Merck & Co., Inc. | 233,937 | 17,914,896 |
Organon & Co. | 23,482 | 876,583 |
Pfizer, Inc. | 519,829 | 24,400,773 |
Viatris, Inc. | 112,007 | 1,233,197 |
Zoetis, Inc. | 43,818 | 8,485,356 |
Total | 127,149,247 | |
Total Health Care | 457,070,048 | |
Industrials 7.8% | ||
Aerospace & Defense 1.6% | ||
Boeing Co. (The)(a) | 51,163 | 10,505,810 |
General Dynamics Corp. | 21,464 | 5,032,235 |
Howmet Aerospace, Inc. | 35,610 | 1,279,111 |
Huntington Ingalls Industries, Inc. | 3,710 | 758,324 |
L3Harris Technologies, Inc. | 18,173 | 4,585,230 |
Lockheed Martin Corp. | 22,732 | 9,861,142 |
Northrop Grumman Corp. | 13,802 | 6,102,416 |
Raytheon Technologies Corp. | 138,622 | 14,236,479 |
Textron, Inc. | 20,414 | 1,492,876 |
TransDigm Group, Inc.(a) | 4,849 | 3,232,295 |
Total | 57,085,918 | |
Air Freight & Logistics 0.6% | ||
CH Robinson Worldwide, Inc. | 12,039 | 1,163,930 |
Expeditors International of Washington, Inc. | 15,689 | 1,621,615 |
FedEx Corp. | 22,635 | 5,031,081 |
United Parcel Service, Inc., Class B | 67,530 | 14,209,663 |
Total | 22,026,289 | |
Airlines 0.2% | ||
Alaska Air Group, Inc.(a) | 11,605 | 651,505 |
American Airlines Group, Inc.(a) | 59,969 | 1,034,465 |
Delta Air Lines, Inc.(a) | 59,274 | 2,366,218 |
Southwest Airlines Co.(a) | 54,820 | 2,401,116 |
United Airlines Holdings, Inc.(a) | 29,989 | 1,331,512 |
Total | 7,784,816 |
12 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Building Products 0.5% | ||
Allegion PLC | 8,307 | 951,318 |
AO Smith Corp. | 12,335 | 845,934 |
Carrier Global Corp. | 80,258 | 3,601,979 |
Fortune Brands Home & Security, Inc. | 12,571 | 1,092,420 |
Johnson Controls International PLC | 65,635 | 4,263,650 |
Masco Corp. | 22,606 | 1,266,840 |
Trane Technologies PLC | 22,000 | 3,386,460 |
Total | 15,408,601 | |
Commercial Services & Supplies 0.4% | ||
Cintas Corp. | 8,140 | 3,055,105 |
Copart, Inc.(a) | 19,763 | 2,428,477 |
Republic Services, Inc. | 19,382 | 2,331,267 |
Rollins, Inc. | 20,962 | 683,990 |
Waste Management, Inc. | 35,643 | 5,146,849 |
Total | 13,645,688 | |
Construction & Engineering 0.1% | ||
Quanta Services, Inc. | 13,197 | 1,437,681 |
Electrical Equipment 0.5% | ||
AMETEK, Inc. | 21,424 | 2,780,621 |
Eaton Corp. PLC | 36,916 | 5,695,770 |
Emerson Electric Co. | 55,365 | 5,144,516 |
Generac Holdings, Inc.(a) | 5,843 | 1,843,291 |
Rockwell Automation, Inc. | 10,742 | 2,863,602 |
Total | 18,327,800 | |
Industrial Conglomerates 1.0% | ||
3M Co. | 53,369 | 7,933,302 |
General Electric Co. | 101,703 | 9,713,654 |
Honeywell International, Inc. | 63,758 | 12,098,080 |
Roper Technologies, Inc. | 9,769 | 4,378,661 |
Total | 34,123,697 | |
Machinery 1.5% | ||
Caterpillar, Inc. | 50,099 | 9,397,570 |
Cummins, Inc. | 13,247 | 2,703,978 |
Deere & Co. | 26,132 | 9,408,042 |
Dover Corp. | 13,335 | 2,091,728 |
Fortive Corp. | 33,209 | 2,150,283 |
IDEX Corp. | 7,042 | 1,351,360 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Illinois Tool Works, Inc. | 26,453 | 5,722,842 |
Ingersoll Rand, Inc. | 37,748 | 1,907,029 |
Nordson Corp. | 5,004 | 1,133,356 |
Otis Worldwide Corp. | 39,340 | 3,081,502 |
PACCAR, Inc. | 32,153 | 2,951,967 |
Parker-Hannifin Corp. | 11,957 | 3,543,935 |
Pentair PLC | 15,326 | 887,529 |
Snap-On, Inc. | 4,976 | 1,045,856 |
Stanley Black & Decker, Inc. | 15,099 | 2,456,607 |
Westinghouse Air Brake Technologies Corp. | 17,302 | 1,605,972 |
Xylem, Inc. | 16,701 | 1,485,554 |
Total | 52,925,110 | |
Professional Services 0.3% | ||
Equifax, Inc. | 11,299 | 2,467,024 |
Jacobs Engineering Group, Inc. | 12,069 | 1,484,487 |
Leidos Holdings, Inc. | 12,997 | 1,323,614 |
Nielsen Holdings PLC | 33,230 | 578,867 |
Robert Half International, Inc. | 10,311 | 1,240,310 |
Verisk Analytics, Inc. | 14,926 | 2,646,977 |
Total | 9,741,279 | |
Road & Rail 0.9% | ||
CSX Corp. | 205,416 | 6,965,657 |
JB Hunt Transport Services, Inc. | 7,781 | 1,578,998 |
Norfolk Southern Corp. | 22,537 | 5,781,191 |
Old Dominion Freight Line, Inc. | 8,628 | 2,709,451 |
Union Pacific Corp. | 59,539 | 14,643,617 |
Total | 31,678,914 | |
Trading Companies & Distributors 0.2% | ||
Fastenal Co. | 53,268 | 2,741,171 |
United Rentals, Inc.(a) | 6,705 | 2,156,462 |
W.W. Grainger, Inc. | 4,008 | 1,912,057 |
Total | 6,809,690 | |
Total Industrials | 270,995,483 |
Columbia Large Cap Index Fund | Annual Report 2022 | 13 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Information Technology 27.7% | ||
Communications Equipment 0.9% | ||
Arista Networks, Inc.(a) | 20,775 | 2,549,716 |
Cisco Systems, Inc. | 390,611 | 21,784,375 |
F5, Inc.(a) | 5,586 | 1,121,948 |
Juniper Networks, Inc. | 30,116 | 1,017,620 |
Motorola Solutions, Inc. | 15,642 | 3,447,966 |
Total | 29,921,625 | |
Electronic Equipment, Instruments & Components 0.6% | ||
Amphenol Corp., Class A | 55,386 | 4,209,890 |
CDW Corp. | 12,570 | 2,167,822 |
Corning, Inc. | 71,134 | 2,873,813 |
IPG Photonics Corp.(a) | 3,308 | 431,198 |
Keysight Technologies, Inc.(a) | 17,059 | 2,684,575 |
TE Connectivity Ltd. | 30,221 | 4,304,377 |
Teledyne Technologies, Inc.(a) | 4,321 | 1,855,351 |
Trimble Navigation Ltd.(a) | 23,247 | 1,621,478 |
Zebra Technologies Corp., Class A(a) | 4,949 | 2,045,620 |
Total | 22,194,124 | |
IT Services 4.2% | ||
Accenture PLC, Class A | 58,499 | 18,486,854 |
Akamai Technologies, Inc.(a) | 15,048 | 1,629,097 |
Automatic Data Processing, Inc. | 39,026 | 7,978,475 |
Broadridge Financial Solutions, Inc. | 10,797 | 1,578,629 |
Cognizant Technology Solutions Corp., Class A | 48,646 | 4,189,880 |
DXC Technology Co.(a) | 23,361 | 794,975 |
EPAM Systems, Inc.(a) | 5,253 | 1,091,311 |
Fidelity National Information Services, Inc. | 56,396 | 5,370,591 |
Fiserv, Inc.(a) | 55,032 | 5,374,975 |
FleetCor Technologies, Inc.(a) | 7,520 | 1,761,184 |
Gartner, Inc.(a) | 7,616 | 2,135,679 |
Global Payments, Inc. | 26,872 | 3,584,187 |
International Business Machines Corp. | 83,056 | 10,175,191 |
Jack Henry & Associates, Inc. | 6,857 | 1,212,318 |
MasterCard, Inc., Class A | 80,342 | 28,989,000 |
Paychex, Inc. | 29,722 | 3,538,701 |
PayPal Holdings, Inc.(a) | 108,815 | 12,179,663 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
VeriSign, Inc.(a) | 8,950 | 1,912,794 |
Visa, Inc., Class A | 155,313 | 33,566,246 |
Total | 145,549,750 | |
Semiconductors & Semiconductor Equipment 6.0% | ||
Advanced Micro Devices, Inc.(a) | 151,405 | 18,674,293 |
Analog Devices, Inc. | 49,772 | 7,977,954 |
Applied Materials, Inc. | 83,624 | 11,222,341 |
Broadcom, Inc. | 38,121 | 22,393,800 |
Enphase Energy, Inc.(a) | 12,495 | 2,082,916 |
Intel Corp. | 376,661 | 17,966,730 |
KLA Corp. | 14,042 | 4,893,637 |
Lam Research Corp. | 13,040 | 7,320,004 |
Microchip Technology, Inc. | 51,389 | 3,614,188 |
Micron Technology, Inc. | 103,600 | 9,205,896 |
Monolithic Power Systems, Inc. | 4,013 | 1,840,763 |
NVIDIA Corp. | 231,535 | 56,459,810 |
NXP Semiconductors NV | 24,629 | 4,682,465 |
Qorvo, Inc.(a) | 10,208 | 1,396,250 |
QUALCOMM, Inc. | 103,728 | 17,840,179 |
Skyworks Solutions, Inc. | 15,295 | 2,113,310 |
SolarEdge Technologies, Inc.(a) | 4,864 | 1,553,659 |
Teradyne, Inc. | 15,096 | 1,780,120 |
Texas Instruments, Inc. | 85,531 | 14,539,415 |
Total | 207,557,730 | |
Software 8.9% | ||
Adobe, Inc.(a) | 44,066 | 20,608,787 |
ANSYS, Inc.(a) | 8,081 | 2,619,779 |
Autodesk, Inc.(a) | 20,361 | 4,484,103 |
Cadence Design Systems, Inc.(a) | 25,667 | 3,886,754 |
Ceridian HCM Holding, Inc.(a) | 12,614 | 919,687 |
Citrix Systems, Inc. | 11,551 | 1,183,977 |
Fortinet, Inc.(a) | 12,568 | 4,329,927 |
Intuit, Inc. | 26,225 | 12,440,353 |
Microsoft Corp. | 695,343 | 207,761,535 |
NortonLifeLock, Inc. | 53,879 | 1,561,413 |
Oracle Corp. | 149,375 | 11,348,019 |
Paycom Software, Inc.(a) | 4,458 | 1,512,198 |
PTC, Inc.(a) | 9,784 | 1,088,764 |
Salesforce.com, Inc.(a) | 90,669 | 19,088,545 |
14 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
ServiceNow, Inc.(a) | 18,430 | 10,687,926 |
Synopsys, Inc.(a) | 14,124 | 4,412,196 |
Tyler Technologies, Inc.(a) | 3,795 | 1,625,247 |
Total | 309,559,210 | |
Technology Hardware, Storage & Peripherals 7.1% | ||
Apple, Inc. | 1,443,487 | 238,348,574 |
Hewlett Packard Enterprise Co. | 121,144 | 1,928,613 |
HP, Inc. | 106,739 | 3,667,552 |
NetApp, Inc. | 20,711 | 1,623,328 |
Seagate Technology Holdings PLC | 18,970 | 1,956,945 |
Western Digital Corp.(a) | 28,861 | 1,470,179 |
Total | 248,995,191 | |
Total Information Technology | 963,777,630 | |
Materials 2.5% | ||
Chemicals 1.7% | ||
Air Products & Chemicals, Inc. | 20,501 | 4,844,387 |
Albemarle Corp. | 10,834 | 2,122,272 |
Celanese Corp., Class A | 10,083 | 1,404,360 |
CF Industries Holdings, Inc. | 19,863 | 1,612,677 |
Corteva, Inc. | 67,507 | 3,512,389 |
Dow, Inc. | 68,499 | 4,038,701 |
DuPont de Nemours, Inc. | 47,984 | 3,712,522 |
Eastman Chemical Co. | 12,451 | 1,475,070 |
Ecolab, Inc. | 23,090 | 4,069,844 |
FMC Corp. | 11,739 | 1,376,398 |
International Flavors & Fragrances, Inc. | 23,573 | 3,135,209 |
Linde PLC | 47,470 | 13,920,103 |
LyondellBasell Industries NV, Class A | 24,348 | 2,367,356 |
Mosaic Co. (The) | 34,305 | 1,798,611 |
PPG Industries, Inc. | 21,987 | 2,934,165 |
Sherwin-Williams Co. (The) | 22,340 | 5,878,324 |
Total | 58,202,388 | |
Construction Materials 0.1% | ||
Martin Marietta Materials, Inc. | 5,777 | 2,191,794 |
Vulcan Materials Co. | 12,290 | 2,230,020 |
Total | 4,421,814 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Containers & Packaging 0.3% | ||
Amcor PLC | 141,993 | 1,651,379 |
Avery Dennison Corp. | 7,668 | 1,351,102 |
Ball Corp. | 29,997 | 2,691,931 |
International Paper Co. | 35,866 | 1,561,247 |
Packaging Corp. of America | 8,797 | 1,294,830 |
Sealed Air Corp. | 13,721 | 921,091 |
WestRock Co. | 24,728 | 1,119,436 |
Total | 10,591,016 | |
Metals & Mining 0.4% | ||
Freeport-McMoRan, Inc. | 136,001 | 6,385,247 |
Newmont Corp. | 73,854 | 4,889,135 |
Nucor Corp. | 26,469 | 3,483,849 |
Total | 14,758,231 | |
Total Materials | 87,973,449 | |
Real Estate 2.6% | ||
Equity Real Estate Investment Trusts (REITS) 2.5% | ||
Alexandria Real Estate Equities, Inc. | 13,060 | 2,473,564 |
American Tower Corp. | 42,178 | 9,568,923 |
AvalonBay Communities, Inc. | 12,942 | 3,087,832 |
Boston Properties, Inc. | 13,165 | 1,610,211 |
Crown Castle International Corp. | 40,028 | 6,668,264 |
Digital Realty Trust, Inc. | 26,283 | 3,546,102 |
Duke Realty Corp. | 35,272 | 1,869,416 |
Equinix, Inc. | 8,339 | 5,918,438 |
Equity Residential | 31,606 | 2,695,992 |
Essex Property Trust, Inc. | 6,028 | 1,911,901 |
Extra Space Storage, Inc. | 12,400 | 2,333,060 |
Federal Realty Investment Trust(a) | 6,484 | 762,389 |
Healthpeak Properties, Inc. | 49,926 | 1,550,702 |
Host Hotels & Resorts, Inc.(a) | 66,130 | 1,208,195 |
Iron Mountain, Inc. | 26,816 | 1,318,811 |
Kimco Realty Corp. | 57,090 | 1,343,328 |
Mid-America Apartment Communities, Inc. | 10,663 | 2,181,756 |
Prologis, Inc. | 68,472 | 9,986,641 |
Public Storage | 14,129 | 5,016,078 |
Realty Income Corp. | 52,398 | 3,462,984 |
Regency Centers Corp. | 14,271 | 940,316 |
Columbia Large Cap Index Fund | Annual Report 2022 | 15 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
SBA Communications Corp. | 10,075 | 3,056,654 |
Simon Property Group, Inc. | 30,434 | 4,186,501 |
UDR, Inc. | 26,917 | 1,476,936 |
Ventas, Inc. | 36,969 | 1,996,326 |
Vornado Realty Trust | 14,725 | 637,298 |
Welltower, Inc. | 40,313 | 3,357,670 |
Weyerhaeuser Co. | 69,372 | 2,697,183 |
Total | 86,863,471 | |
Real Estate Management & Development 0.1% | ||
CBRE Group, Inc., Class A(a) | 30,995 | 3,001,866 |
Total Real Estate | 89,865,337 | |
Utilities 2.5% | ||
Electric Utilities 1.6% | ||
Alliant Energy Corp. | 23,187 | 1,354,121 |
American Electric Power Co., Inc. | 46,645 | 4,228,369 |
Constellation Energy Corp. | 30,202 | 1,388,688 |
Duke Energy Corp. | 71,240 | 7,153,208 |
Edison International | 35,185 | 2,231,433 |
Entergy Corp. | 18,614 | 1,958,379 |
Evergy, Inc. | 21,237 | 1,325,401 |
Eversource Energy | 31,841 | 2,604,594 |
Exelon Corp. | 90,606 | 3,856,191 |
FirstEnergy Corp. | 50,421 | 2,110,119 |
NextEra Energy, Inc. | 181,721 | 14,223,303 |
NRG Energy, Inc. | 22,675 | 858,022 |
Pinnacle West Capital Corp. | 10,449 | 740,103 |
PPL Corp. | 69,527 | 1,819,521 |
Southern Co. (The) | 98,153 | 6,357,370 |
Xcel Energy, Inc. | 49,889 | 3,359,026 |
Total | 55,567,848 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Gas Utilities 0.0% | ||
Atmos Energy Corp. | 12,264 | 1,346,710 |
Independent Power and Renewable Electricity Producers 0.0% | ||
AES Corp. (The) | 61,747 | 1,310,889 |
Multi-Utilities 0.8% | ||
Ameren Corp. | 23,858 | 2,050,595 |
CenterPoint Energy, Inc. | 58,242 | 1,592,919 |
CMS Energy Corp. | 26,830 | 1,717,388 |
Consolidated Edison, Inc. | 32,762 | 2,809,997 |
Dominion Energy, Inc. | 75,009 | 5,965,466 |
DTE Energy Co. | 17,942 | 2,181,568 |
NiSource, Inc. | 36,370 | 1,052,184 |
Public Service Enterprise Group, Inc. | 46,832 | 3,036,119 |
Sempra Energy | 29,575 | 4,265,306 |
WEC Energy Group, Inc. | 29,214 | 2,654,968 |
Total | 27,326,510 | |
Water Utilities 0.1% | ||
American Water Works Co., Inc. | 16,813 | 2,540,276 |
Total Utilities | 88,092,233 | |
Total Common Stocks (Cost $899,557,501) | 3,430,748,749 | |
Money Market Funds 1.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(c),(d) | 48,502,422 | 48,487,871 |
Total Money Market Funds (Cost $48,490,231) | 48,487,871 | |
Total Investments in Securities (Cost: $948,047,732) | 3,479,236,620 | |
Other Assets & Liabilities, Net | (180,992) | |
Net Assets | 3,479,055,628 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 224 | 03/2022 | USD | 48,921,600 | — | (599,077) |
16 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Ameriprise Financial, Inc. | ||||||||
2,984,085 | — | (67,257) | 189,896 | 3,106,724 | 763,979 | 51,394 | 10,363 | |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
17,686,035 | 484,271,430 | (453,463,199) | (6,395) | 48,487,871 | (5,926) | 26,815 | 48,502,422 | |
Total | 20,670,120 | 183,501 | 51,594,595 | 758,053 | 78,209 |
(d) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
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 Large Cap Index Fund | Annual Report 2022 | 17 |
February 28, 2022
The following table is a summary of the inputs used to value the Fund’s investments at February 28, 2022:
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 330,589,775 | — | — | 330,589,775 |
Consumer Discretionary | 405,814,448 | — | — | 405,814,448 |
Consumer Staples | 213,068,355 | — | — | 213,068,355 |
Energy | 126,350,573 | — | — | 126,350,573 |
Financials | 397,151,418 | — | — | 397,151,418 |
Health Care | 457,070,048 | — | — | 457,070,048 |
Industrials | 270,995,483 | — | — | 270,995,483 |
Information Technology | 963,777,630 | — | — | 963,777,630 |
Materials | 87,973,449 | — | — | 87,973,449 |
Real Estate | 89,865,337 | — | — | 89,865,337 |
Utilities | 88,092,233 | — | — | 88,092,233 |
Total Common Stocks | 3,430,748,749 | — | — | 3,430,748,749 |
Money Market Funds | 48,487,871 | — | — | 48,487,871 |
Total Investments in Securities | 3,479,236,620 | — | — | 3,479,236,620 |
Investments in Derivatives | ||||
Liability | ||||
Futures Contracts | (599,077) | — | — | (599,077) |
Total | 3,478,637,543 | — | — | 3,478,637,543 |
18 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $899,342,258) | $3,427,642,025 |
Affiliated issuers (cost $48,705,474) | 51,594,595 |
Cash | 6,278 |
Receivable for: | |
Capital shares sold | 1,902,065 |
Dividends | 4,551,828 |
Foreign tax reclaims | 996 |
Variation margin for futures contracts | 770 |
Expense reimbursement due from Investment Manager | 310 |
Total assets | 3,485,698,867 |
Liabilities | |
Payable for: | |
Capital shares purchased | 6,116,486 |
Variation margin for futures contracts | 147,600 |
Management services fees | 57,402 |
Distribution and/or service fees | 10,989 |
Compensation of board members | 310,762 |
Total liabilities | 6,643,239 |
Net assets applicable to outstanding capital stock | $3,479,055,628 |
Represented by | |
Paid in capital | 818,043,064 |
Total distributable earnings (loss) | 2,661,012,564 |
Total - representing net assets applicable to outstanding capital stock | $3,479,055,628 |
Class A | |
Net assets | $529,310,427 |
Shares outstanding | 9,394,937 |
Net asset value per share | $56.34 |
Institutional Class | |
Net assets | $2,497,279,469 |
Shares outstanding | 43,951,254 |
Net asset value per share | $56.82 |
Institutional 2 Class | |
Net assets | $379,871,978 |
Shares outstanding | 6,546,830 |
Net asset value per share | $58.02 |
Institutional 3 Class | |
Net assets | $72,593,754 |
Shares outstanding | 1,305,981 |
Net asset value per share | $55.59 |
Columbia Large Cap Index Fund | Annual Report 2022 | 19 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $51,896,913 |
Dividends — affiliated issuers | 78,209 |
Foreign taxes withheld | (6,853) |
Total income | 51,968,269 |
Expenses: | |
Management services fees | 7,592,485 |
Distribution and/or service fees | |
Class A | 1,500,439 |
Compensation of board members | 100,581 |
Interest on collateral | 967 |
Total expenses | 9,194,472 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (100,580) |
Expense reduction | (1,599) |
Total net expenses | 9,092,293 |
Net investment income | 42,875,976 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 562,367,854 |
Investments — affiliated issuers | 758,053 |
Futures contracts | 7,822,328 |
Net realized gain | 570,948,235 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (27,223,093) |
Investments — affiliated issuers | 183,501 |
Futures contracts | (1,088,533) |
Net change in unrealized appreciation (depreciation) | (28,128,125) |
Net realized and unrealized gain | 542,820,110 |
Net increase in net assets resulting from operations | $585,696,086 |
20 | Columbia Large Cap Index Fund | Annual Report 2022 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $42,875,976 | $54,810,752 |
Net realized gain | 570,948,235 | 213,190,861 |
Net change in unrealized appreciation (depreciation) | (28,128,125) | 679,378,208 |
Net increase in net assets resulting from operations | 585,696,086 | 947,379,821 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (91,728,044) | (43,630,444) |
Institutional Class | (419,937,711) | (175,685,793) |
Institutional 2 Class | (64,117,563) | (26,445,019) |
Institutional 3 Class | (12,469,784) | (16,609,539) |
Total distributions to shareholders | (588,253,102) | (262,370,795) |
Decrease in net assets from capital stock activity | (217,347,737) | (65,602,628) |
Total increase (decrease) in net assets | (219,904,753) | 619,406,398 |
Net assets at beginning of year | 3,698,960,381 | 3,079,553,983 |
Net assets at end of year | $3,479,055,628 | $3,698,960,381 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,943,795 | 118,991,557 | 2,406,919 | 119,240,592 |
Distributions reinvested | 1,396,652 | 84,972,068 | 791,433 | 40,464,807 |
Redemptions | (4,258,462) | (263,267,391) | (5,182,455) | (258,573,583) |
Net decrease | (918,015) | (59,303,766) | (1,984,103) | (98,868,184) |
Institutional Class | ||||
Subscriptions | 4,162,816 | 257,012,616 | 7,620,149 | 384,230,990 |
Distributions reinvested | 5,816,571 | 356,591,794 | 2,868,850 | 148,454,404 |
Redemptions | (8,482,728) | (535,721,305) | (13,074,721) | (664,658,369) |
Net increase (decrease) | 1,496,659 | 77,883,105 | (2,585,722) | (131,972,975) |
Institutional 2 Class | ||||
Subscriptions | 1,169,174 | 75,340,440 | 1,761,647 | 88,895,172 |
Distributions reinvested | 1,010,920 | 63,261,083 | 494,119 | 26,039,449 |
Redemptions | (2,185,803) | (141,189,263) | (2,164,828) | (113,594,354) |
Net increase (decrease) | (5,709) | (2,587,740) | 90,938 | 1,340,267 |
Institutional 3 Class | ||||
Subscriptions | 224,600 | 13,353,125 | 7,103,264 | 302,417,230 |
Distributions reinvested | 201,551 | 12,095,264 | 323,937 | 16,596,829 |
Redemptions | (4,160,725) | (258,787,725) | (3,485,931) | (155,115,795) |
Net increase (decrease) | (3,734,574) | (233,339,336) | 3,941,270 | 163,898,264 |
Total net decrease | (3,161,639) | (217,347,737) | (537,617) | (65,602,628) |
Columbia Large Cap Index Fund | Annual Report 2022 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2022 | $57.11 | 0.58 | 8.97 | 9.55 | (0.62) | (9.70) | (10.32) |
Year Ended 2/28/2021 | $47.14 | 0.73 | 13.20 | 13.93 | (0.78) | (3.18) | (3.96) |
Year Ended 2/29/2020 | $48.30 | 0.84 | 2.97 | 3.81 | (0.88) | (4.09) | (4.97) |
Year Ended 2/28/2019 | $50.42 | 0.81 | 1.18 | 1.99 | (0.83) | (3.28) | (4.11) |
Year Ended 2/28/2018 | $45.16 | 0.73 | 6.65 | 7.38 | (0.77) | (1.35) | (2.12) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $57.52 | 0.74 | 9.04 | 9.78 | (0.78) | (9.70) | (10.48) |
Year Ended 2/28/2021 | $47.44 | 0.86 | 13.31 | 14.17 | (0.91) | (3.18) | (4.09) |
Year Ended 2/29/2020 | $48.57 | 0.98 | 2.98 | 3.96 | (1.00) | (4.09) | (5.09) |
Year Ended 2/28/2019 | $50.68 | 0.94 | 1.18 | 2.12 | (0.95) | (3.28) | (4.23) |
Year Ended 2/28/2018 | $45.38 | 0.85 | 6.69 | 7.54 | (0.89) | (1.35) | (2.24) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $58.55 | 0.75 | 9.20 | 9.95 | (0.78) | (9.70) | (10.48) |
Year Ended 2/28/2021 | $48.23 | 0.88 | 13.53 | 14.41 | (0.91) | (3.18) | (4.09) |
Year Ended 2/29/2020 | $49.30 | 0.99 | 3.03 | 4.02 | (1.00) | (4.09) | (5.09) |
Year Ended 2/28/2019 | $51.38 | 0.95 | 1.20 | 2.15 | (0.95) | (3.28) | (4.23) |
Year Ended 2/28/2018 | $45.98 | 0.87 | 6.77 | 7.64 | (0.89) | (1.35) | (2.24) |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $56.45 | 0.68 | 8.94 | 9.62 | (0.78) | (9.70) | (10.48) |
Year Ended 2/28/2021 | $46.63 | 0.83 | 13.08 | 13.91 | (0.91) | (3.18) | (4.09) |
Year Ended 2/29/2020 | $47.81 | 0.98 | 2.93 | 3.91 | (1.00) | (4.09) | (5.09) |
Year Ended 2/28/2019 | $49.95 | 0.92 | 1.17 | 2.09 | (0.95) | (3.28) | (4.23) |
Year Ended 2/28/2018(f) | $45.37 | 0.98 | 5.84 | 6.82 | (0.89) | (1.35) | (2.24) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include interfund lending expense which is less than 0.01%. |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
22 | Columbia Large Cap Index Fund | Annual Report 2022 |
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 2/28/2022 | $56.34 | 15.86% | 0.45%(c) | 0.45%(c),(d) | 0.92% | 2% | $529,310 |
Year Ended 2/28/2021 | $57.11 | 30.69% | 0.45%(c) | 0.45%(c),(d) | 1.43% | 11% | $588,972 |
Year Ended 2/29/2020 | $47.14 | 7.70% | 0.45% | 0.45%(d) | 1.68% | 7% | $579,726 |
Year Ended 2/28/2019 | $48.30 | 4.19% | 0.45%(e) | 0.45%(d),(e) | 1.64% | 6% | $726,445 |
Year Ended 2/28/2018 | $50.42 | 16.59% | 0.45% | 0.45%(d) | 1.53% | 2% | $954,529 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $56.82 | 16.15% | 0.20%(c) | 0.20%(c),(d) | 1.17% | 2% | $2,497,279 |
Year Ended 2/28/2021 | $57.52 | 31.02% | 0.20%(c) | 0.20%(c),(d) | 1.67% | 11% | $2,441,779 |
Year Ended 2/29/2020 | $47.44 | 7.97% | 0.20% | 0.20%(d) | 1.94% | 7% | $2,136,890 |
Year Ended 2/28/2019 | $48.57 | 4.46% | 0.20%(e) | 0.20%(d),(e) | 1.89% | 6% | $2,134,512 |
Year Ended 2/28/2018 | $50.68 | 16.88% | 0.20% | 0.20%(d) | 1.78% | 2% | $2,390,677 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $58.02 | 16.15% | 0.20%(c) | 0.20%(c) | 1.17% | 2% | $379,872 |
Year Ended 2/28/2021 | $58.55 | 31.01% | 0.20%(c) | 0.20%(c) | 1.67% | 11% | $383,658 |
Year Ended 2/29/2020 | $48.23 | 7.97% | 0.20% | 0.20% | 1.93% | 7% | $311,674 |
Year Ended 2/28/2019 | $49.30 | 4.45% | 0.20%(e) | 0.20%(e) | 1.89% | 6% | $336,271 |
Year Ended 2/28/2018 | $51.38 | 16.87% | 0.20% | 0.20% | 1.78% | 2% | $372,379 |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $55.59 | 16.17% | 0.20%(c) | 0.20%(c) | 1.10% | 2% | $72,594 |
Year Ended 2/28/2021 | $56.45 | 31.00% | 0.20%(c) | 0.20%(c) | 1.63% | 11% | $284,552 |
Year Ended 2/29/2020 | $46.63 | 7.99% | 0.20% | 0.20% | 1.98% | 7% | $51,264 |
Year Ended 2/28/2019 | $47.81 | 4.46% | 0.20%(e) | 0.20%(e) | 1.91% | 6% | $45,493 |
Year Ended 2/28/2018(f) | $49.95 | 15.29% | 0.21% | 0.20% | 2.01% | 2% | $552 |
Columbia Large Cap Index Fund | Annual Report 2022 | 23 |
February 28, 2022
24 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Large Cap Index Fund | Annual Report 2022 | 25 |
February 28, 2022
26 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 599,077* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 7,822,328 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (1,088,533) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 50,845,525 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2022. |
Columbia Large Cap Index Fund | Annual Report 2022 | 27 |
February 28, 2022
28 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Large Cap Index Fund | Annual Report 2022 | 29 |
February 28, 2022
Fee rate(s) contractual through June 30, 2022 | |
Class A | 0.45% |
Institutional Class | 0.20 |
Institutional 2 Class | 0.20 |
Institutional 3 Class | 0.20 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(551,849) | 551,849 | — |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
49,452,878 | 538,800,224 | 588,253,102 | 77,313,814 | 185,056,981 | 262,370,795 |
30 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
6,949,262 | 143,466,419 | — | 2,510,904,817 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
967,732,726 | 2,545,367,904 | (34,463,087) | 2,510,904,817 |
Columbia Large Cap Index Fund | Annual Report 2022 | 31 |
February 28, 2022
32 | Columbia Large Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Large Cap Index Fund | Annual Report 2022 | 33 |
February 28, 2022
34 | Columbia Large Cap Index Fund | Annual Report 2022 |
Columbia Large Cap Index Fund | Annual Report 2022 | 35 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
94.62% | 94.11% | $590,748,128 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
36 | Columbia Large Cap Index Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Large Cap Index Fund | Annual Report 2022 | 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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
38 | Columbia Large Cap Index Fund | Annual Report 2022 |
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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
Columbia Large Cap Index Fund | Annual Report 2022 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | 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. |
40 | Columbia Large Cap Index Fund | Annual Report 2022 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Large Cap Index Fund | Annual Report 2022 | 41 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
42 | Columbia Large Cap Index Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
7 | |
8 | |
11 | |
13 | |
14 | |
16 | |
20 | |
29 | |
30 | |
30 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/31/97 | 2.77 | 17.80 | 14.70 |
Including sales charges | -3.15 | 16.41 | 14.02 | ||
Advisor Class* | 11/08/12 | 3.00 | 18.09 | 14.96 | |
Class C | Excluding sales charges | 12/31/97 | 1.97 | 16.92 | 13.84 |
Including sales charges | 1.45 | 16.92 | 13.84 | ||
Institutional Class | 12/31/97 | 2.99 | 18.09 | 14.99 | |
Institutional 2 Class* | 12/11/13 | 3.09 | 18.18 | 15.03 | |
Institutional 3 Class* | 03/01/17 | 3.14 | 18.23 | 14.91 | |
Class R* | 10/26/16 | 2.50 | 17.51 | 14.42 | |
Russell 1000 Growth Index | 12.55 | 20.24 | 16.97 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one class of shares at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 99.1 |
Money Market Funds | 0.9 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 13.2 |
Consumer Discretionary | 13.9 |
Consumer Staples | 6.1 |
Financials | 2.5 |
Health Care | 9.7 |
Industrials | 8.8 |
Information Technology | 44.3 |
Materials | 1.5 |
Total | 100.0 |
Equity sub-industry breakdown (%) (at February 28, 2022) | |
Information Technology | |
Application Software | 14.0 |
Data Processing & Outsourced Services | 3.2 |
Electronic Equipment & Instruments | 3.9 |
Electronic Manufacturing Services | 3.6 |
Internet Services & Infrastructure | 0.3 |
Semiconductor Equipment | 5.3 |
Semiconductors | 9.3 |
Systems Software | 4.7 |
Total | 44.3 |
4 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
• | The Fund’s underperformance of its benchmark during the period was driven primarily by stock selection, particularly within the information technology, consumer discretionary, health care, financials and industrials sectors. |
• | The top individual detractors to Fund performance versus its benchmark during the period all were in the technology sector and included an underweight position in Apple, Inc., a consumer electronics company, Fidelity National Information Services, Inc., a financial technology company offering processing and payment services, Zebra Technologies Corp., a mobile computing company, MasterCard, Inc., a financial services and payment processing company, and Microsoft Corp., a software and application developer. |
• | Stock selection was beneficial to Fund results in the communication services and materials sectors. |
• | Individual stocks that contributed most to the Fund’s performance relative to its benchmark during the period included an underweight to Meta Platforms, Inc., the social media giant formerly known as Facebook, Alphabet, Inc., the parent company of search engine Google, both within the communication services sector and Zendesk, Inc., a software development company, Bill.com Holdings, Inc., a cloud-based billing software company and Cadence Design Systems, Inc., a circuit design software company, all within the technology sector. |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 5 |
6 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 884.60 | 1,019.59 | 4.91 | 5.26 | 1.05 |
Advisor Class | 1,000.00 | 1,000.00 | 885.40 | 1,020.83 | 3.74 | 4.01 | 0.80 |
Class C | 1,000.00 | 1,000.00 | 881.20 | 1,015.87 | 8.40 | 9.00 | 1.80 |
Institutional Class | 1,000.00 | 1,000.00 | 885.40 | 1,020.83 | 3.74 | 4.01 | 0.80 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 885.90 | 1,021.12 | 3.46 | 3.71 | 0.74 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 886.20 | 1,021.32 | 3.27 | 3.51 | 0.70 |
Class R | 1,000.00 | 1,000.00 | 883.60 | 1,018.35 | 6.07 | 6.51 | 1.30 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 98.2% | ||
Issuer | Shares | Value ($) |
Communication Services 12.9% | ||
Entertainment 6.6% | ||
Electronic Arts, Inc. | 567,053 | 73,767,925 |
Endeavor Group Holdings, Inc., Class A(a) | 594,191 | 17,902,975 |
Take-Two Interactive Software, Inc.(a) | 109,016 | 17,660,592 |
Total | 109,331,492 | |
Interactive Media & Services 6.3% | ||
Alphabet, Inc., Class A(a) | 38,601 | 104,266,705 |
Total Communication Services | 213,598,197 | |
Consumer Discretionary 13.6% | ||
Automobiles 2.0% | ||
General Motors Co.(a) | 719,694 | 33,624,104 |
Diversified Consumer Services 0.8% | ||
Bright Horizons Family Solutions, Inc.(a) | 100,180 | 13,087,515 |
Hotels, Restaurants & Leisure 2.5% | ||
Hilton Worldwide Holdings, Inc.(a) | 171,343 | 25,506,119 |
Starbucks Corp. | 177,887 | 16,328,248 |
Total | 41,834,367 | |
Internet & Direct Marketing Retail 2.5% | ||
Amazon.com, Inc.(a) | 10,220 | 31,388,277 |
DoorDash, Inc., Class A(a) | 88,371 | 9,274,536 |
Total | 40,662,813 | |
Multiline Retail 4.1% | ||
Target Corp. | 339,740 | 67,869,860 |
Specialty Retail 1.7% | ||
TJX Companies, Inc. (The) | 424,778 | 28,077,826 |
Total Consumer Discretionary | 225,156,485 | |
Consumer Staples 6.0% | ||
Beverages 2.7% | ||
Coca-Cola Co. (The) | 730,683 | 45,477,710 |
Food Products 0.4% | ||
Darling Ingredients, Inc.(a) | 87,386 | 6,333,737 |
Personal Products 2.9% | ||
Estee Lauder Companies, Inc. (The), Class A | 159,420 | 47,240,929 |
Total Consumer Staples | 99,052,376 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Financials 2.5% | ||
Banks 1.0% | ||
SVB Financial Group(a) | 27,828 | 16,863,768 |
Capital Markets 1.5% | ||
Morgan Stanley | 131,529 | 11,934,942 |
Northern Trust Corp. | 110,078 | 12,537,884 |
Total | 24,472,826 | |
Total Financials | 41,336,594 | |
Health Care 9.5% | ||
Biotechnology 4.1% | ||
Allogene Therapeutics, Inc.(a) | 302,285 | 2,765,908 |
Exact Sciences Corp.(a) | 152,206 | 11,881,200 |
Mirati Therapeutics, Inc.(a) | 179,397 | 15,838,961 |
Vertex Pharmaceuticals, Inc.(a) | 163,016 | 37,496,940 |
Total | 67,983,009 | |
Health Care Technology 1.0% | ||
Doximity, Inc., Class A(a) | 273,892 | 16,803,274 |
Pharmaceuticals 4.4% | ||
Eli Lilly & Co. | 123,147 | 30,780,593 |
Horizon Therapeutics PLC(a) | 197,062 | 17,966,143 |
Zoetis, Inc. | 122,536 | 23,729,096 |
Total | 72,475,832 | |
Total Health Care | 157,262,115 | |
Industrials 8.7% | ||
Aerospace & Defense 1.0% | ||
Howmet Aerospace, Inc. | 463,465 | 16,647,663 |
Air Freight & Logistics 5.3% | ||
United Parcel Service, Inc., Class B | 412,258 | 86,747,328 |
Electrical Equipment 0.6% | ||
Generac Holdings, Inc.(a) | 33,082 | 10,436,379 |
Machinery 1.1% | ||
AGCO Corp. | 145,358 | 17,466,217 |
Professional Services 0.7% | ||
Equifax, Inc. | 54,822 | 11,969,835 |
Total Industrials | 143,267,422 |
8 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Information Technology 43.5% | ||
Electronic Equipment, Instruments & Components 7.3% | ||
TE Connectivity Ltd. | 403,901 | 57,527,620 |
Zebra Technologies Corp., Class A(a) | 154,874 | 64,015,619 |
Total | 121,543,239 | |
IT Services 3.5% | ||
Block, Inc., Class A(a) | 38,850 | 4,953,375 |
MasterCard, Inc., Class A | 115,151 | 41,548,784 |
Shopify, Inc., Class A(a) | 6,906 | 4,794,559 |
Toast, Inc., Class A(a) | 296,906 | 6,092,511 |
Total | 57,389,229 | |
Semiconductors & Semiconductor Equipment 14.3% | ||
Cirrus Logic, Inc.(a) | 200,242 | 17,395,023 |
GlobalFoundries, Inc.(a) | 344,973 | 20,967,459 |
Lam Research Corp. | 135,996 | 76,341,355 |
NVIDIA Corp. | 132,884 | 32,403,763 |
QUALCOMM, Inc. | 465,949 | 80,138,568 |
Teradyne, Inc. | 75,738 | 8,931,025 |
Total | 236,177,193 | |
Software 18.4% | ||
Adobe, Inc.(a) | 139,260 | 65,129,117 |
Aspen Technology, Inc.(a) | 166,054 | 25,308,290 |
Atlassian Corp. PLC, Class A(a) | 94,354 | 28,845,905 |
Bill.com Holdings, Inc.(a) | 71,521 | 17,013,415 |
Cadence Design Systems, Inc.(a) | 132,597 | 20,079,164 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Microsoft Corp. | 57,621 | 17,216,579 |
Salesforce.com, Inc.(a) | 97,469 | 20,520,148 |
ServiceNow, Inc.(a) | 65,727 | 38,116,402 |
Teradata Corp.(a) | 420,738 | 21,032,693 |
Tyler Technologies, Inc.(a) | 39,249 | 16,808,777 |
Zendesk, Inc.(a) | 287,081 | 33,493,740 |
Total | 303,564,230 | |
Total Information Technology | 718,673,891 | |
Materials 1.5% | ||
Chemicals 1.0% | ||
Albemarle Corp. | 86,667 | 16,977,198 |
Containers & Packaging 0.5% | ||
Ranpak Holdings Corp.(a) | 306,799 | 7,424,536 |
Total Materials | 24,401,734 | |
Total Common Stocks (Cost $1,357,727,352) | 1,622,748,814 | |
Money Market Funds 0.9% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(b),(c) | 15,282,246 | 15,277,661 |
Total Money Market Funds (Cost $15,277,640) | 15,277,661 | |
Total Investments in Securities (Cost: $1,373,004,992) | 1,638,026,475 | |
Other Assets & Liabilities, Net | 15,163,948 | |
Net Assets | 1,653,190,423 |
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
22,806,514 | 534,148,664 | (541,677,513) | (4) | 15,277,661 | (1,826) | 6,146 | 15,282,246 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 9 |
February 28, 2022
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 213,598,197 | — | — | 213,598,197 |
Consumer Discretionary | 225,156,485 | — | — | 225,156,485 |
Consumer Staples | 99,052,376 | — | — | 99,052,376 |
Financials | 41,336,594 | — | — | 41,336,594 |
Health Care | 157,262,115 | — | — | 157,262,115 |
Industrials | 143,267,422 | — | — | 143,267,422 |
Information Technology | 718,673,891 | — | — | 718,673,891 |
Materials | 24,401,734 | — | — | 24,401,734 |
Total Common Stocks | 1,622,748,814 | — | — | 1,622,748,814 |
Money Market Funds | 15,277,661 | — | — | 15,277,661 |
Total Investments in Securities | 1,638,026,475 | — | — | 1,638,026,475 |
10 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,357,727,352) | $1,622,748,814 |
Affiliated issuers (cost $15,277,640) | 15,277,661 |
Receivable for: | |
Investments sold | 20,773,716 |
Capital shares sold | 326,648 |
Dividends | 1,617,151 |
Expense reimbursement due from Investment Manager | 5,547 |
Prepaid expenses | 16,882 |
Total assets | 1,660,766,419 |
Liabilities | |
Payable for: | |
Investments purchased | 5,705,668 |
Capital shares purchased | 972,519 |
Management services fees | 96,765 |
Distribution and/or service fees | 24,548 |
Transfer agent fees | 178,258 |
Compensation of board members | 552,201 |
Compensation of chief compliance officer | 301 |
Other expenses | 45,736 |
Total liabilities | 7,575,996 |
Net assets applicable to outstanding capital stock | $1,653,190,423 |
Represented by | |
Paid in capital | 1,187,423,261 |
Total distributable earnings (loss) | 465,767,162 |
Total - representing net assets applicable to outstanding capital stock | $1,653,190,423 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 11 |
February 28, 2022
Class A | |
Net assets | $1,094,509,395 |
Shares outstanding | 65,381,117 |
Net asset value per share | $16.74 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $17.76 |
Advisor Class | |
Net assets | $22,973,789 |
Shares outstanding | 1,120,074 |
Net asset value per share | $20.51 |
Class C | |
Net assets | $14,134,753 |
Shares outstanding | 2,013,567 |
Net asset value per share | $7.02 |
Institutional Class | |
Net assets | $468,669,862 |
Shares outstanding | 24,090,341 |
Net asset value per share | $19.45 |
Institutional 2 Class | |
Net assets | $31,012,426 |
Shares outstanding | 1,484,146 |
Net asset value per share | $20.90 |
Institutional 3 Class | |
Net assets | $1,405,701 |
Shares outstanding | 71,481 |
Net asset value per share | $19.67 |
Class R | |
Net assets | $20,484,497 |
Shares outstanding | 1,215,947 |
Net asset value per share | $16.85 |
12 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $12,651,645 |
Dividends — affiliated issuers | 6,146 |
Total income | 12,657,791 |
Expenses: | |
Management services fees | 13,400,347 |
Distribution and/or service fees | |
Class A | 3,136,823 |
Class C | 213,843 |
Class R | 124,945 |
Transfer agent fees | |
Class A | 1,415,539 |
Advisor Class | 29,575 |
Class C | 24,173 |
Institutional Class | 623,849 |
Institutional 2 Class | 19,068 |
Institutional 3 Class | 186 |
Class R | 28,200 |
Compensation of board members | 117,944 |
Custodian fees | 14,504 |
Printing and postage fees | 79,701 |
Registration fees | 125,462 |
Audit fees | 29,596 |
Legal fees | 32,005 |
Interest on interfund lending | 102 |
Compensation of chief compliance officer | 288 |
Other | 28,241 |
Total expenses | 19,444,391 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (745,606) |
Expense reduction | (851) |
Total net expenses | 18,697,934 |
Net investment loss | (6,040,143) |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 667,651,934 |
Investments — affiliated issuers | (1,826) |
Net realized gain | 667,650,108 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (590,491,983) |
Investments — affiliated issuers | (4) |
Net change in unrealized appreciation (depreciation) | (590,491,987) |
Net realized and unrealized gain | 77,158,121 |
Net increase in net assets resulting from operations | $71,117,978 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 13 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment loss | $(6,040,143) | $(1,452,611) |
Net realized gain | 667,650,108 | 280,519,044 |
Net change in unrealized appreciation (depreciation) | (590,491,987) | 388,546,029 |
Net increase in net assets resulting from operations | 71,117,978 | 667,612,462 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (421,064,836) | (139,067,738) |
Advisor Class | (7,670,849) | (2,393,609) |
Class C | (10,858,622) | (7,102,003) |
Institutional Class | (167,409,437) | (56,589,107) |
Institutional 2 Class | (10,606,828) | (2,823,471) |
Institutional 3 Class | (503,226) | (148,617) |
Class R | (8,113,395) | (2,936,930) |
Total distributions to shareholders | (626,227,193) | (211,061,475) |
Increase (decrease) in net assets from capital stock activity | 359,328,810 | (28,132,733) |
Total increase (decrease) in net assets | (195,780,405) | 428,418,254 |
Net assets at beginning of year | 1,848,970,828 | 1,420,552,574 |
Net assets at end of year | $1,653,190,423 | $1,848,970,828 |
14 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 6,956,448 | 143,180,568 | 3,422,730 | 70,474,490 |
Distributions reinvested | 14,401,962 | 288,079,087 | 4,639,656 | 95,516,492 |
Redemptions | (7,191,823) | (156,275,823) | (8,579,194) | (176,910,830) |
Net increase (decrease) | 14,166,587 | 274,983,832 | (516,808) | (10,919,848) |
Advisor Class | ||||
Subscriptions | 110,541 | 2,961,031 | 165,478 | 4,086,134 |
Distributions reinvested | 315,936 | 7,659,342 | 100,397 | 2,391,082 |
Redemptions | (221,140) | (5,635,233) | (238,356) | (5,336,921) |
Net increase | 205,337 | 4,985,140 | 27,519 | 1,140,295 |
Class C | ||||
Subscriptions | 146,191 | 1,648,532 | 234,359 | 2,963,551 |
Distributions reinvested | 1,170,598 | 10,506,512 | 516,051 | 6,379,511 |
Redemptions | (1,479,921) | (18,661,446) | (1,834,992) | (23,330,991) |
Net decrease | (163,132) | (6,506,402) | (1,084,582) | (13,987,929) |
Institutional Class | ||||
Subscriptions | 1,926,649 | 46,905,979 | 2,082,903 | 49,431,380 |
Distributions reinvested | 6,036,812 | 139,332,423 | 2,026,959 | 46,394,110 |
Redemptions | (4,471,485) | (109,509,867) | (4,660,306) | (105,713,887) |
Net increase (decrease) | 3,491,976 | 76,728,535 | (550,444) | (9,888,397) |
Institutional 2 Class | ||||
Subscriptions | 152,604 | 4,255,802 | 386,942 | 9,958,955 |
Distributions reinvested | 429,597 | 10,606,828 | 116,706 | 2,823,471 |
Redemptions | (340,250) | (8,709,668) | (236,211) | (5,413,625) |
Net increase | 241,951 | 6,152,962 | 267,437 | 7,368,801 |
Institutional 3 Class | ||||
Subscriptions | 3,546 | 94,111 | 16,456 | 405,374 |
Distributions reinvested | 19,395 | 453,005 | 5,773 | 133,915 |
Redemptions | (13,037) | (329,525) | (5,468) | (136,117) |
Net increase | 9,904 | 217,591 | 16,761 | 403,172 |
Class R | ||||
Subscriptions | 144,845 | 3,261,279 | 225,630 | 4,581,580 |
Distributions reinvested | 402,512 | 8,113,395 | 141,690 | 2,923,196 |
Redemptions | (393,500) | (8,607,522) | (488,697) | (9,753,603) |
Net increase (decrease) | 153,857 | 2,767,152 | (121,377) | (2,248,827) |
Total net increase (decrease) | 18,106,480 | 359,328,810 | (1,961,494) | (28,132,733) |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 15 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net realized gains | Total distributions to shareholders | |
Class A | ||||||
Year Ended 2/28/2022 | $23.37 | (0.09) | 1.57 | 1.48 | (8.11) | (8.11) |
Year Ended 2/28/2021 | $17.67 | (0.03) | 8.53 | 8.50 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $17.18 | (0.03) | 2.34 | 2.31 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $18.33 | (0.03) | 0.75 | 0.72 | (1.87) | (1.87) |
Year Ended 2/28/2018 | $15.74 | (0.01) | 3.66 | 3.65 | (1.06) | (1.06) |
Advisor Class | ||||||
Year Ended 2/28/2022 | $27.08 | (0.04) | 1.69 | 1.65 | (8.22) | (8.22) |
Year Ended 2/28/2021 | $20.07 | 0.02 | 9.79 | 9.81 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $19.26 | 0.02 | 2.61 | 2.63 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $20.27 | 0.02 | 0.85 | 0.87 | (1.88) | (1.88) |
Year Ended 2/28/2018 | $17.30 | 0.03 | 4.03 | 4.06 | (1.09) | (1.09) |
Class C | ||||||
Year Ended 2/28/2022 | $13.72 | (0.14) | 1.24 | 1.10 | (7.80) | (7.80) |
Year Ended 2/28/2021 | $11.35 | (0.11) | 5.28 | 5.17 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $11.70 | (0.11) | 1.58 | 1.47 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $13.14 | (0.12) | 0.53 | 0.41 | (1.85) | (1.85) |
Year Ended 2/28/2018 | $11.58 | (0.10) | 2.66 | 2.56 | (1.00) | (1.00) |
Institutional Class | ||||||
Year Ended 2/28/2022 | $26.05 | (0.03) | 1.65 | 1.62 | (8.22) | (8.22) |
Year Ended 2/28/2021 | $19.39 | 0.02 | 9.44 | 9.46 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $18.66 | 0.02 | 2.53 | 2.55 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $19.70 | 0.02 | 0.82 | 0.84 | (1.88) | (1.88) |
Year Ended 2/28/2018 | $16.84 | 0.03 | 3.92 | 3.95 | (1.09) | (1.09) |
Institutional 2 Class | ||||||
Year Ended 2/28/2022 | $27.46 | (0.02) | 1.70 | 1.68 | (8.24) | (8.24) |
Year Ended 2/28/2021 | $20.31 | 0.04 | 9.91 | 9.95 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $19.46 | 0.03 | 2.64 | 2.67 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $20.45 | 0.03 | 0.86 | 0.89 | (1.88) | (1.88) |
Year Ended 2/28/2018 | $17.44 | 0.05 | 4.06 | 4.11 | (1.10) | (1.10) |
16 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
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 2/28/2022 | $16.74 | 2.77% | 1.08%(c) | 1.04%(c),(d) | (0.38%) | 93% | $1,094,509 |
Year Ended 2/28/2021 | $23.37 | 50.88% | 1.11%(c) | 1.04%(c),(d) | (0.15%) | 44% | $1,197,121 |
Year Ended 2/29/2020 | $17.67 | 13.54% | 1.12% | 1.04%(d) | (0.16%) | 42% | $913,905 |
Year Ended 2/28/2019 | $17.18 | 4.19% | 1.12% | 1.08%(d) | (0.16%) | 23% | $929,808 |
Year Ended 2/28/2018 | $18.33 | 23.65% | 1.12% | 1.12%(d) | (0.07%) | 37% | $850,411 |
Advisor Class | |||||||
Year Ended 2/28/2022 | $20.51 | 3.00% | 0.83%(c) | 0.79%(c),(d) | (0.13%) | 93% | $22,974 |
Year Ended 2/28/2021 | $27.08 | 51.34% | 0.86%(c) | 0.79%(c),(d) | 0.10% | 44% | $24,768 |
Year Ended 2/29/2020 | $20.07 | 13.75% | 0.87% | 0.79%(d) | 0.09% | 42% | $17,809 |
Year Ended 2/28/2019 | $19.26 | 4.53% | 0.87% | 0.83%(d) | 0.09% | 23% | $26,286 |
Year Ended 2/28/2018 | $20.27 | 23.93% | 0.87% | 0.87%(d) | 0.18% | 37% | $27,793 |
Class C | |||||||
Year Ended 2/28/2022 | $7.02 | 1.97% | 1.83%(c) | 1.79%(c),(d) | (1.14%) | 93% | $14,135 |
Year Ended 2/28/2021 | $13.72 | 49.77% | 1.86%(c) | 1.79%(c),(d) | (0.90%) | 44% | $29,863 |
Year Ended 2/29/2020 | $11.35 | 12.66% | 1.87% | 1.80%(d) | (0.91%) | 42% | $37,004 |
Year Ended 2/28/2019 | $11.70 | 3.46% | 1.86% | 1.84%(d) | (0.96%) | 23% | $57,316 |
Year Ended 2/28/2018 | $13.14 | 22.74% | 1.87% | 1.87%(d) | (0.79%) | 37% | $291,221 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $19.45 | 2.99% | 0.83%(c) | 0.79%(c),(d) | (0.14%) | 93% | $468,670 |
Year Ended 2/28/2021 | $26.05 | 51.34% | 0.86%(c) | 0.79%(c),(d) | 0.10% | 44% | $536,602 |
Year Ended 2/29/2020 | $19.39 | 13.76% | 0.87% | 0.79%(d) | 0.09% | 42% | $410,156 |
Year Ended 2/28/2019 | $18.66 | 4.51% | 0.87% | 0.83%(d) | 0.09% | 23% | $472,922 |
Year Ended 2/28/2018 | $19.70 | 23.93% | 0.87% | 0.87%(d) | 0.19% | 37% | $537,229 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $20.90 | 3.09% | 0.77%(c) | 0.74%(c) | (0.08%) | 93% | $31,012 |
Year Ended 2/28/2021 | $27.46 | 51.43% | 0.79%(c) | 0.73%(c) | 0.15% | 44% | $34,108 |
Year Ended 2/29/2020 | $20.31 | 13.81% | 0.80% | 0.73% | 0.16% | 42% | $19,798 |
Year Ended 2/28/2019 | $19.46 | 4.60% | 0.80% | 0.76% | 0.17% | 23% | $12,349 |
Year Ended 2/28/2018 | $20.45 | 24.04% | 0.80% | 0.80% | 0.26% | 37% | $9,310 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Year Ended 2/28/2022 | $26.27 | (0.01) | 1.67 | 1.66 | (8.26) | (8.26) |
Year Ended 2/28/2021 | $19.52 | 0.05 | 9.50 | 9.55 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $18.75 | 0.04 | 2.55 | 2.59 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $19.77 | 0.04 | 0.82 | 0.86 | (1.88) | (1.88) |
Year Ended 2/28/2018(e) | $17.10 | 0.04 | 3.74 | 3.78 | (1.11) | (1.11) |
Class R | ||||||
Year Ended 2/28/2022 | $23.44 | (0.15) | 1.57 | 1.42 | (8.01) | (8.01) |
Year Ended 2/28/2021 | $17.75 | (0.08) | 8.57 | 8.49 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $17.30 | (0.07) | 2.34 | 2.27 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $18.47 | (0.07) | 0.76 | 0.69 | (1.86) | (1.86) |
Year Ended 2/28/2018 | $15.87 | (0.05) | 3.67 | 3.62 | (1.02) | (1.02) |
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) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
18 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
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 2/28/2022 | $19.67 | 3.14% | 0.73%(c) | 0.69%(c) | (0.03%) | 93% | $1,406 |
Year Ended 2/28/2021 | $26.27 | 51.47% | 0.75%(c) | 0.69%(c) | 0.20% | 44% | $1,618 |
Year Ended 2/29/2020 | $19.52 | 13.91% | 0.76% | 0.69% | 0.20% | 42% | $875 |
Year Ended 2/28/2019 | $18.75 | 4.61% | 0.77% | 0.71% | 0.24% | 23% | $780 |
Year Ended 2/28/2018(e) | $19.77 | 22.55% | 0.76% | 0.76% | 0.19% | 37% | $262 |
Class R | |||||||
Year Ended 2/28/2022 | $16.85 | 2.50% | 1.33%(c) | 1.29%(c),(d) | (0.64%) | 93% | $20,484 |
Year Ended 2/28/2021 | $23.44 | 50.57% | 1.36%(c) | 1.29%(c),(d) | (0.40%) | 44% | $24,892 |
Year Ended 2/29/2020 | $17.75 | 13.20% | 1.37% | 1.30%(d) | (0.41%) | 42% | $21,006 |
Year Ended 2/28/2019 | $17.30 | 4.00% | 1.37% | 1.33%(d) | (0.41%) | 23% | $24,324 |
Year Ended 2/28/2018 | $18.47 | 23.28% | 1.37% | 1.37%(d) | (0.31%) | 37% | $24,453 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 19 |
February 28, 2022
20 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
February 28, 2022
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 21 |
February 28, 2022
22 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
February 28, 2022
Effective rate (%) | |
Class A | 0.11 |
Advisor Class | 0.11 |
Class C | 0.11 |
Institutional Class | 0.11 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.01 |
Class R | 0.11 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 23 |
February 28, 2022
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 89,006 |
Class C | — | 1.00(b) | 456 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
July 1, 2021 through June 30, 2022 | Prior to July 1, 2021 | |
Class A | 1.05% | 1.05% |
Advisor Class | 0.80 | 0.80 |
Class C | 1.80 | 1.80 |
Institutional Class | 0.80 | 0.80 |
Institutional 2 Class | 0.75 | 0.73 |
Institutional 3 Class | 0.70 | 0.69 |
Class R | 1.30 | 1.30 |
24 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
February 28, 2022
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
5,231,303 | (5,231,303) | — |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
126,375,304 | 499,851,889 | 626,227,193 | — | 211,061,475 | 211,061,475 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 231,194,603 | — | 263,497,015 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,374,529,460 | 343,783,489 | (80,286,474) | 263,497,015 |
Late year ordinary losses ($) | Post-October capital losses ($) |
796,496 | 27,577,812 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 25 |
February 28, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 1,180,000 | 0.64 | 5 |
26 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
February 28, 2022
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 27 |
February 28, 2022
28 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 29 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
21.21% | 20.07% | 0.06% | $680,689,862 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
30 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
32 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 33 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | 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. |
34 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 | 35 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
36 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
7 | |
8 | |
12 | |
13 | |
14 | |
16 | |
20 | |
31 | |
32 | |
32 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/20/01 | 18.15 | 10.99 | 11.86 |
Including sales charges | 11.38 | 9.68 | 11.19 | ||
Advisor Class* | 11/08/12 | 18.36 | 11.25 | 12.11 | |
Class C | Excluding sales charges | 11/20/01 | 17.19 | 10.16 | 11.03 |
Including sales charges | 16.19 | 10.16 | 11.03 | ||
Institutional Class | 11/20/01 | 18.36 | 11.25 | 12.13 | |
Institutional 2 Class* | 11/08/12 | 18.47 | 11.39 | 12.25 | |
Institutional 3 Class | 07/15/09 | 18.53 | 11.43 | 12.32 | |
Class R | 01/23/06 | 17.79 | 10.72 | 11.58 | |
Russell Midcap Value Index | 13.75 | 9.18 | 11.93 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 96.8 |
Money Market Funds | 3.2 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 6.1 |
Consumer Discretionary | 11.7 |
Consumer Staples | 4.0 |
Energy | 6.2 |
Financials | 17.5 |
Health Care | 8.7 |
Industrials | 14.9 |
Information Technology | 9.4 |
Materials | 7.5 |
Real Estate | 9.3 |
Utilities | 4.7 |
Total | 100.0 |
4 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
• | The Fund’s outperformance of its benchmark during the period was driven by strong stock selection, particularly within the communication services, information technology, energy, and consumer discretionary sectors. |
• | Devon Energy Corp., an oil exploration and production company, was a strong contributor to overall relative performance. The company reported better-than-expected results during the period, driven by higher production and lower operating costs. The company continues to generate impressive amounts of free cash flow and remains committed to returning cash to shareholders through their pioneering variable dividend. |
• | The Fund’s position in semiconductor company ON Semiconductor Corp. performed strongly within information technology. Shares climbed after a strong quarterly report that saw earnings and forward guidance above consensus expectations. The beat (exceeded expectations) and raise (raised guidance) was driven by significant gross margin expansion. Investors seem to be increasingly recognizing that the strategic measures undertaken by the new CEO to improve profitability at the company are taking hold. |
• | Not holding a position in Twitter helped relative performance as the social media platform weighed heavily on the benchmark’s return. |
• | Stock selection within the utilities sector weighed most on the Fund’s performance versus its benchmark during the period. |
• | The Fund’s position in The AES Corporation, a diversified power generation and utility company, detracted from results versus the benchmark. The company underperformed after reporting mostly in-line quarterly results. More broadly, the more defensive utility name underperformed as markets rallied earlier in the period on re-opening momentum. |
• | Shares in Southwest fell, as the outbreak of the Omicron variant of COVID-19, weather issues and labor challenges disrupted air travel. |
• | Zimmer Biomet Holdings, Inc., a medical device company that provides orthopedic reconstructive products, declined due to macro-related headwinds. With the emergence of COVID-19 variants and labor shortages at hospitals, surgical procedures such as knee and hip replacements have been canceled or delayed, which weighed on the stock. |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 5 |
6 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 1,063.30 | 1,019.24 | 5.73 | 5.61 | 1.12 |
Advisor Class | 1,000.00 | 1,000.00 | 1,064.00 | 1,020.48 | 4.45 | 4.36 | 0.87 |
Class C | 1,000.00 | 1,000.00 | 1,059.80 | 1,015.52 | 9.55 | 9.35 | 1.87 |
Institutional Class | 1,000.00 | 1,000.00 | 1,064.40 | 1,020.48 | 4.45 | 4.36 | 0.87 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,065.30 | 1,020.93 | 3.99 | 3.91 | 0.78 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,065.50 | 1,021.12 | 3.79 | 3.71 | 0.74 |
Class R | 1,000.00 | 1,000.00 | 1,062.30 | 1,018.00 | 7.01 | 6.85 | 1.37 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 96.7% | ||
Issuer | Shares | Value ($) |
Communication Services 5.9% | ||
Entertainment 3.7% | ||
Live Nation Entertainment, Inc.(a) | 373,171 | 45,086,520 |
Take-Two Interactive Software, Inc.(a) | 356,559 | 57,762,558 |
Total | 102,849,078 | |
Media 2.2% | ||
Nexstar Media Group, Inc., Class A | 327,239 | 60,555,577 |
Total Communication Services | 163,404,655 | |
Consumer Discretionary 11.3% | ||
Hotels, Restaurants & Leisure 2.1% | ||
Hyatt Hotels Corp., Class A(a) | 606,205 | 58,868,568 |
Household Durables 1.6% | ||
D.R. Horton, Inc. | 510,385 | 43,586,879 |
Multiline Retail 2.4% | ||
Dollar Tree, Inc.(a) | 464,097 | 65,938,902 |
Specialty Retail 3.6% | ||
Burlington Stores, Inc.(a) | 194,382 | 43,908,950 |
O’Reilly Automotive, Inc.(a) | 89,235 | 57,934,931 |
Total | 101,843,881 | |
Textiles, Apparel & Luxury Goods 1.6% | ||
Capri Holdings Ltd.(a) | 657,635 | 44,548,195 |
Total Consumer Discretionary | 314,786,425 | |
Consumer Staples 3.8% | ||
Food & Staples Retailing 2.0% | ||
U.S. Foods Holding Corp.(a) | 1,435,533 | 56,114,985 |
Food Products 1.8% | ||
Tyson Foods, Inc., Class A | 546,735 | 50,660,465 |
Total Consumer Staples | 106,775,450 | |
Energy 6.0% | ||
Oil, Gas & Consumable Fuels 6.0% | ||
Devon Energy Corp. | 1,396,328 | 83,151,332 |
Marathon Petroleum Corp. | 1,083,002 | 84,333,366 |
Total | 167,484,698 | |
Total Energy | 167,484,698 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Financials 16.9% | ||
Banks 6.9% | ||
Popular, Inc. | 742,942 | 68,239,223 |
Regions Financial Corp. | 2,701,421 | 65,347,374 |
SVB Financial Group(a) | 98,126 | 59,464,356 |
Total | 193,050,953 | |
Consumer Finance 2.7% | ||
Discover Financial Services | 597,491 | 73,754,289 |
Diversified Financial Services 1.3% | ||
Voya Financial, Inc. | 549,299 | 36,995,288 |
Insurance 6.0% | ||
Hanover Insurance Group, Inc. (The) | 352,725 | 49,208,665 |
Lincoln National Corp. | 967,362 | 65,219,546 |
Reinsurance Group of America, Inc. | 485,367 | 53,807,785 |
Total | 168,235,996 | |
Total Financials | 472,036,526 | |
Health Care 8.5% | ||
Health Care Equipment & Supplies 2.1% | ||
Zimmer Biomet Holdings, Inc. | 460,071 | 58,516,431 |
Health Care Providers & Services 3.5% | ||
Centene Corp.(a) | 607,509 | 50,192,393 |
Quest Diagnostics, Inc. | 348,714 | 45,775,687 |
Total | 95,968,080 | |
Life Sciences Tools & Services 2.9% | ||
Agilent Technologies, Inc. | 309,595 | 40,358,804 |
Syneos Health, Inc.(a) | 520,979 | 41,261,537 |
Total | 81,620,341 | |
Total Health Care | 236,104,852 | |
Industrials 14.4% | ||
Airlines 1.8% | ||
Southwest Airlines Co.(a) | 1,143,256 | 50,074,613 |
Building Products 2.4% | ||
Trane Technologies PLC | 438,362 | 67,477,063 |
8 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Electrical Equipment 3.0% | ||
AMETEK, Inc. | 559,507 | 72,618,413 |
Bloom Energy Corp., Class A(a) | 474,643 | 10,537,075 |
Total | 83,155,488 | |
Machinery 4.8% | ||
Ingersoll Rand, Inc. | 1,268,570 | 64,088,156 |
ITT, Inc. | 793,111 | 69,690,664 |
Total | 133,778,820 | |
Professional Services 2.4% | ||
CACI International, Inc., Class A(a) | 238,438 | 66,712,568 |
Total Industrials | 401,198,552 | |
Information Technology 9.1% | ||
Communications Equipment 2.1% | ||
Motorola Solutions, Inc. | 272,711 | 60,113,686 |
Electronic Equipment, Instruments & Components 2.1% | ||
Corning, Inc. | 1,428,311 | 57,703,764 |
Semiconductors & Semiconductor Equipment 4.9% | ||
GlobalFoundries, Inc.(a) | 376,224 | 22,866,895 |
Marvell Technology, Inc. | 536,418 | 36,653,442 |
ON Semiconductor Corp.(a) | 587,536 | 36,785,629 |
Teradyne, Inc. | 333,861 | 39,368,889 |
Total | 135,674,855 | |
Total Information Technology | 253,492,305 | |
Materials 7.3% | ||
Chemicals 4.2% | ||
Chemours Co. LLC (The) | 1,292,000 | 35,659,200 |
Eastman Chemical Co. | 283,462 | 33,581,743 |
FMC Corp. | 404,686 | 47,449,434 |
Total | 116,690,377 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Metals & Mining 3.1% | ||
Allegheny Technologies, Inc.(a) | 1,769,808 | 45,554,858 |
Freeport-McMoRan, Inc. | 874,997 | 41,081,109 |
Total | 86,635,967 | |
Total Materials | 203,326,344 | |
Real Estate 9.0% | ||
Equity Real Estate Investment Trusts (REITS) 9.0% | ||
First Industrial Realty Trust, Inc. | 1,263,379 | 72,745,363 |
Gaming and Leisure Properties, Inc. | 1,186,569 | 53,882,098 |
Simon Property Group, Inc. | 348,954 | 48,002,112 |
Welltower, Inc. | 908,721 | 75,687,372 |
Total | 250,316,945 | |
Total Real Estate | 250,316,945 | |
Utilities 4.5% | ||
Independent Power and Renewable Electricity Producers 1.8% | ||
AES Corp. (The) | 2,340,603 | 49,691,002 |
Multi-Utilities 2.7% | ||
Ameren Corp. | 892,909 | 76,745,528 |
Total Utilities | 126,436,530 | |
Total Common Stocks (Cost $1,822,987,683) | 2,695,363,282 | |
Money Market Funds 3.2% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(b),(c) | 89,679,702 | 89,652,798 |
Total Money Market Funds (Cost $89,656,582) | 89,652,798 | |
Total Investments in Securities (Cost: $1,912,644,265) | 2,785,016,080 | |
Other Assets & Liabilities, Net | 1,854,276 | |
Net Assets | 2,786,870,356 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 9 |
February 28, 2022
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
16,809,145 | 436,312,576 | (363,463,437) | (5,486) | 89,652,798 | (10,020) | 44,736 | 89,679,702 |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 163,404,655 | — | — | 163,404,655 |
Consumer Discretionary | 314,786,425 | — | — | 314,786,425 |
Consumer Staples | 106,775,450 | — | — | 106,775,450 |
Energy | 167,484,698 | — | — | 167,484,698 |
Financials | 472,036,526 | — | — | 472,036,526 |
Health Care | 236,104,852 | — | — | 236,104,852 |
Industrials | 401,198,552 | — | — | 401,198,552 |
10 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
February 28, 2022
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Information Technology | 253,492,305 | — | — | 253,492,305 |
Materials | 203,326,344 | — | — | 203,326,344 |
Real Estate | 250,316,945 | — | — | 250,316,945 |
Utilities | 126,436,530 | — | — | 126,436,530 |
Total Common Stocks | 2,695,363,282 | — | — | 2,695,363,282 |
Money Market Funds | 89,652,798 | — | — | 89,652,798 |
Total Investments in Securities | 2,785,016,080 | — | — | 2,785,016,080 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 11 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,822,987,683) | $2,695,363,282 |
Affiliated issuers (cost $89,656,582) | 89,652,798 |
Receivable for: | |
Capital shares sold | 3,267,451 |
Dividends | 2,868,742 |
Expense reimbursement due from Investment Manager | 2,840 |
Prepaid expenses | 19,558 |
Total assets | 2,791,174,671 |
Liabilities | |
Payable for: | |
Capital shares purchased | 3,291,564 |
Management services fees | 166,296 |
Distribution and/or service fees | 25,783 |
Transfer agent fees | 318,347 |
Compensation of board members | 421,351 |
Compensation of chief compliance officer | 428 |
Other expenses | 80,546 |
Total liabilities | 4,304,315 |
Net assets applicable to outstanding capital stock | $2,786,870,356 |
Represented by | |
Paid in capital | 1,836,885,034 |
Total distributable earnings (loss) | 949,985,322 |
Total - representing net assets applicable to outstanding capital stock | $2,786,870,356 |
Class A | |
Net assets | $1,142,074,993 |
Shares outstanding | 84,364,147 |
Net asset value per share | $13.54 |
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) | $14.37 |
Advisor Class | |
Net assets | $178,227,941 |
Shares outstanding | 12,573,469 |
Net asset value per share | $14.17 |
Class C | |
Net assets | $12,830,336 |
Shares outstanding | 1,076,644 |
Net asset value per share | $11.92 |
Institutional Class | |
Net assets | $861,575,785 |
Shares outstanding | 63,390,667 |
Net asset value per share | $13.59 |
Institutional 2 Class | |
Net assets | $130,350,663 |
Shares outstanding | 9,192,110 |
Net asset value per share | $14.18 |
Institutional 3 Class | |
Net assets | $434,024,060 |
Shares outstanding | 32,080,315 |
Net asset value per share | $13.53 |
Class R | |
Net assets | $27,786,578 |
Shares outstanding | 2,065,008 |
Net asset value per share | $13.46 |
12 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $39,048,937 |
Dividends — affiliated issuers | 44,736 |
Interfund lending | 961 |
Foreign taxes withheld | (137,844) |
Total income | 38,956,790 |
Expenses: | |
Management services fees | 19,191,348 |
Distribution and/or service fees | |
Class A | 2,753,034 |
Class C | 127,939 |
Class R | 150,660 |
Transfer agent fees | |
Class A | 1,524,439 |
Advisor Class | 229,823 |
Class C | 17,721 |
Institutional Class | 1,124,432 |
Institutional 2 Class | 67,031 |
Institutional 3 Class | 24,061 |
Class R | 41,735 |
Compensation of board members | 104,254 |
Custodian fees | 14,167 |
Printing and postage fees | 145,374 |
Registration fees | 124,311 |
Audit fees | 35,000 |
Legal fees | 39,029 |
Compensation of chief compliance officer | 411 |
Other | 36,711 |
Total expenses | 25,751,480 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (192,449) |
Fees waived by transfer agent | |
Institutional 2 Class | (18,242) |
Institutional 3 Class | (24,061) |
Expense reduction | (2,700) |
Total net expenses | 25,514,028 |
Net investment income | 13,442,762 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 277,020,553 |
Investments — affiliated issuers | (10,020) |
Net realized gain | 277,010,533 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 141,077,120 |
Investments — affiliated issuers | (5,486) |
Net change in unrealized appreciation (depreciation) | 141,071,634 |
Net realized and unrealized gain | 418,082,167 |
Net increase in net assets resulting from operations | $431,524,929 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 13 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $13,442,762 | $12,839,293 |
Net realized gain | 277,010,533 | 35,911,756 |
Net change in unrealized appreciation (depreciation) | 141,071,634 | 605,075,953 |
Net increase in net assets resulting from operations | 431,524,929 | 653,827,002 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (95,776,131) | (17,676,345) |
Advisor Class | (13,763,048) | (1,096,305) |
Class C | (1,171,441) | (373,633) |
Institutional Class | (73,036,294) | (22,705,183) |
Institutional 2 Class | (10,768,053) | (2,421,282) |
Institutional 3 Class | (36,507,016) | (7,952,391) |
Class R | (2,487,239) | (757,365) |
Total distributions to shareholders | (233,509,222) | (52,982,504) |
Increase in net assets from capital stock activity | 216,032,102 | 426,729,328 |
Total increase in net assets | 414,047,809 | 1,027,573,826 |
Net assets at beginning of year | 2,372,822,547 | 1,345,248,721 |
Net assets at end of year | $2,786,870,356 | $2,372,822,547 |
14 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 5,909,633 | 80,584,016 | 4,671,905 | 45,629,276 |
Fund reorganization | 2,451,935 | 32,338,454 | 39,170,046 | 338,427,345 |
Distributions reinvested | 6,609,810 | 90,795,130 | 1,834,484 | 16,251,790 |
Redemptions | (10,825,461) | (147,526,000) | (14,614,146) | (144,279,931) |
Net increase | 4,145,917 | 56,191,600 | 31,062,289 | 256,028,480 |
Advisor Class | ||||
Subscriptions | 3,163,318 | 44,985,786 | 11,572,395 | 109,734,091 |
Fund reorganization | 185,751 | 2,564,607 | 2,434,767 | 21,937,275 |
Distributions reinvested | 949,858 | 13,638,294 | 108,583 | 1,056,042 |
Redemptions | (3,445,998) | (49,245,622) | (4,404,517) | (47,412,019) |
Net increase | 852,929 | 11,943,065 | 9,711,228 | 85,315,389 |
Class C | ||||
Subscriptions | 308,952 | 3,755,602 | 93,312 | 835,907 |
Fund reorganization | — | — | 543,360 | 4,205,613 |
Distributions reinvested | 94,008 | 1,141,080 | 44,083 | 347,951 |
Redemptions | (451,667) | (5,490,415) | (1,008,448) | (9,142,544) |
Net decrease | (48,707) | (593,733) | (327,693) | (3,753,073) |
Institutional Class | ||||
Subscriptions | 12,670,719 | 172,324,656 | 6,624,100 | 64,456,629 |
Fund reorganization | — | — | 5,608,529 | 48,625,920 |
Distributions reinvested | 4,943,198 | 68,113,102 | 2,425,313 | 21,406,965 |
Redemptions | (10,255,528) | (140,960,727) | (20,421,123) | (191,725,497) |
Net increase (decrease) | 7,358,389 | 99,477,031 | (5,763,181) | (57,235,983) |
Institutional 2 Class | ||||
Subscriptions | 3,076,208 | 43,814,292 | 2,772,450 | 28,783,226 |
Fund reorganization | — | — | 1,608,162 | 14,489,499 |
Distributions reinvested | 676,436 | 9,713,445 | 259,114 | 2,385,510 |
Redemptions | (2,482,935) | (35,578,309) | (2,891,479) | (28,953,694) |
Net increase | 1,269,709 | 17,949,428 | 1,748,247 | 16,704,541 |
Institutional 3 Class | ||||
Subscriptions | 11,762,304 | 161,202,450 | 11,620,696 | 107,181,810 |
Fund reorganization | 83,061 | 1,094,384 | 8,691,673 | 75,009,378 |
Distributions reinvested | 2,306,416 | 31,617,245 | 767,213 | 6,876,162 |
Redemptions | (11,648,122) | (159,945,955) | (5,855,282) | (57,421,915) |
Net increase | 2,503,659 | 33,968,124 | 15,224,300 | 131,645,435 |
Class R | ||||
Subscriptions | 672,334 | 9,048,538 | 799,660 | 7,723,118 |
Fund reorganization | — | — | 303,824 | 2,612,872 |
Distributions reinvested | 181,931 | 2,485,764 | 85,793 | 749,444 |
Redemptions | (1,062,609) | (14,437,715) | (1,351,248) | (13,060,895) |
Net decrease | (208,344) | (2,903,413) | (161,971) | (1,975,461) |
Total net increase | 15,873,552 | 216,032,102 | 51,493,219 | 426,729,328 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 15 |
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 2/28/2022 | $12.50 | 0.05 | 2.22 | 2.27 | (0.04) | (1.19) | (1.23) |
Year Ended 2/28/2021 | $9.76 | 0.05 | 3.04 | 3.09 | (0.07) | (0.28) | (0.35) |
Year Ended 2/29/2020 | $10.34 | 0.10 | (0.32) | (0.22) | (0.10) | (0.26) | (0.36) |
Year Ended 2/28/2019 | $13.27 | 0.07 | 0.18 | 0.25 | (0.07) | (3.11) | (3.18) |
Year Ended 2/28/2018 | $15.19 | 0.13 | 0.80 | 0.93 | (0.14) | (2.71) | (2.85) |
Advisor Class | |||||||
Year Ended 2/28/2022 | $13.04 | 0.09 | 2.30 | 2.39 | (0.07) | (1.19) | (1.26) |
Year Ended 2/28/2021 | $10.17 | 0.07 | 3.17 | 3.24 | (0.09) | (0.28) | (0.37) |
Year Ended 2/29/2020 | $10.75 | 0.13 | (0.33) | (0.20) | (0.12) | (0.26) | (0.38) |
Year Ended 2/28/2019 | $13.67 | 0.10 | 0.19 | 0.29 | (0.10) | (3.11) | (3.21) |
Year Ended 2/28/2018 | $15.57 | 0.17 | 0.82 | 0.99 | (0.18) | (2.71) | (2.89) |
Class C | |||||||
Year Ended 2/28/2022 | $11.18 | (0.05) | 1.98 | 1.93 | — | (1.19) | (1.19) |
Year Ended 2/28/2021 | $8.76 | (0.01) | 2.72 | 2.71 | (0.01) | (0.28) | (0.29) |
Year Ended 2/29/2020 | $9.30 | 0.02 | (0.28) | (0.26) | (0.02) | (0.26) | (0.28) |
Year Ended 2/28/2019 | $12.29 | (0.02) | 0.14 | 0.12 | — | (3.11) | (3.11) |
Year Ended 2/28/2018 | $14.29 | 0.01 | 0.75 | 0.76 | (0.05) | (2.71) | (2.76) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $12.55 | 0.08 | 2.22 | 2.30 | (0.07) | (1.19) | (1.26) |
Year Ended 2/28/2021 | $9.80 | 0.09 | 3.03 | 3.12 | (0.09) | (0.28) | (0.37) |
Year Ended 2/29/2020 | $10.38 | 0.13 | (0.33) | (0.20) | (0.12) | (0.26) | (0.38) |
Year Ended 2/28/2019 | $13.31 | 0.10 | 0.18 | 0.28 | (0.10) | (3.11) | (3.21) |
Year Ended 2/28/2018 | $15.23 | 0.18 | 0.79 | 0.97 | (0.18) | (2.71) | (2.89) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $13.05 | 0.10 | 2.31 | 2.41 | (0.09) | (1.19) | (1.28) |
Year Ended 2/28/2021 | $10.17 | 0.10 | 3.17 | 3.27 | (0.11) | (0.28) | (0.39) |
Year Ended 2/29/2020 | $10.76 | 0.14 | (0.33) | (0.19) | (0.14) | (0.26) | (0.40) |
Year Ended 2/28/2019 | $13.67 | 0.11 | 0.20 | 0.31 | (0.11) | (3.11) | (3.22) |
Year Ended 2/28/2018 | $15.57 | 0.18 | 0.83 | 1.01 | (0.20) | (2.71) | (2.91) |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $12.50 | 0.10 | 2.21 | 2.31 | (0.09) | (1.19) | (1.28) |
Year Ended 2/28/2021 | $9.76 | 0.09 | 3.04 | 3.13 | (0.11) | (0.28) | (0.39) |
Year Ended 2/29/2020 | $10.34 | 0.14 | (0.32) | (0.18) | (0.14) | (0.26) | (0.40) |
Year Ended 2/28/2019 | $13.27 | 0.12 | 0.18 | 0.30 | (0.12) | (3.11) | (3.23) |
Year Ended 2/28/2018 | $15.20 | 0.14 | 0.84 | 0.98 | (0.20) | (2.71) | (2.91) |
16 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
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 2/28/2022 | $13.54 | 18.15% | 1.13% | 1.13%(c) | 0.35% | 37% | $1,142,075 |
Year Ended 2/28/2021 | $12.50 | 33.20% | 1.18% | 1.15%(c) | 0.54% | 44% | $1,003,004 |
Year Ended 2/29/2020 | $9.76 | (2.47%) | 1.21% | 1.16%(c) | 0.91% | 28% | $479,921 |
Year Ended 2/28/2019 | $10.34 | 3.57% | 1.20% | 1.17%(c) | 0.57% | 79% | $575,861 |
Year Ended 2/28/2018 | $13.27 | 5.96% | 1.18% | 1.18%(c) | 0.86% | 59% | $692,641 |
Advisor Class | |||||||
Year Ended 2/28/2022 | $14.17 | 18.36% | 0.89% | 0.88%(c) | 0.60% | 37% | $178,228 |
Year Ended 2/28/2021 | $13.04 | 33.49% | 0.93% | 0.90%(c) | 0.66% | 44% | $152,860 |
Year Ended 2/29/2020 | $10.17 | (2.14%) | 0.96% | 0.91%(c) | 1.16% | 28% | $20,433 |
Year Ended 2/28/2019 | $10.75 | 3.79% | 0.95% | 0.92%(c) | 0.78% | 79% | $21,857 |
Year Ended 2/28/2018 | $13.67 | 6.20% | 0.93% | 0.92%(c) | 1.10% | 59% | $69,624 |
Class C | |||||||
Year Ended 2/28/2022 | $11.92 | 17.19% | 1.88% | 1.88%(c) | (0.39%) | 37% | $12,830 |
Year Ended 2/28/2021 | $11.18 | 32.30% | 1.94% | 1.90%(c) | (0.12%) | 44% | $12,577 |
Year Ended 2/29/2020 | $8.76 | (3.11%) | 1.96% | 1.92%(c) | 0.17% | 28% | $12,726 |
Year Ended 2/28/2019 | $9.30 | 2.78% | 1.95% | 1.92%(c) | (0.20%) | 79% | $20,763 |
Year Ended 2/28/2018 | $12.29 | 5.09% | 1.93% | 1.92%(c) | 0.10% | 59% | $69,670 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $13.59 | 18.36% | 0.89% | 0.88%(c) | 0.60% | 37% | $861,576 |
Year Ended 2/28/2021 | $12.55 | 33.52% | 0.94% | 0.90%(c) | 0.91% | 44% | $703,152 |
Year Ended 2/29/2020 | $9.80 | (2.22%) | 0.96% | 0.91%(c) | 1.16% | 28% | $605,614 |
Year Ended 2/28/2019 | $10.38 | 3.84% | 0.95% | 0.92%(c) | 0.82% | 79% | $694,941 |
Year Ended 2/28/2018 | $13.31 | 6.21% | 0.93% | 0.93%(c) | 1.20% | 59% | $837,610 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $14.18 | 18.47% | 0.80% | 0.78% | 0.70% | 37% | $130,351 |
Year Ended 2/28/2021 | $13.05 | 33.75% | 0.84% | 0.79% | 0.96% | 44% | $103,360 |
Year Ended 2/29/2020 | $10.17 | (2.12%) | 0.85% | 0.80% | 1.27% | 28% | $62,808 |
Year Ended 2/28/2019 | $10.76 | 3.99% | 0.83% | 0.80% | 0.89% | 79% | $70,379 |
Year Ended 2/28/2018 | $13.67 | 6.33% | 0.82% | 0.82% | 1.17% | 59% | $82,174 |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $13.53 | 18.53% | 0.75% | 0.74% | 0.73% | 37% | $434,024 |
Year Ended 2/28/2021 | $12.50 | 33.80% | 0.79% | 0.75% | 0.94% | 44% | $369,599 |
Year Ended 2/29/2020 | $9.76 | (2.07%) | 0.80% | 0.75% | 1.32% | 28% | $140,100 |
Year Ended 2/28/2019 | $10.34 | 4.02% | 0.78% | 0.76% | 0.97% | 79% | $153,442 |
Year Ended 2/28/2018 | $13.27 | 6.34% | 0.77% | 0.77% | 0.98% | 59% | $239,180 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 17 |
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 R | |||||||
Year Ended 2/28/2022 | $12.44 | 0.01 | 2.21 | 2.22 | (0.01) | (1.19) | (1.20) |
Year Ended 2/28/2021 | $9.71 | 0.04 | 3.02 | 3.06 | (0.05) | (0.28) | (0.33) |
Year Ended 2/29/2020 | $10.29 | 0.07 | (0.32) | (0.25) | (0.07) | (0.26) | (0.33) |
Year Ended 2/28/2019 | $13.22 | 0.04 | 0.18 | 0.22 | (0.04) | (3.11) | (3.15) |
Year Ended 2/28/2018 | $15.14 | 0.09 | 0.80 | 0.89 | (0.10) | (2.71) | (2.81) |
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%. |
18 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class R | |||||||
Year Ended 2/28/2022 | $13.46 | 17.79% | 1.38% | 1.38%(c) | 0.10% | 37% | $27,787 |
Year Ended 2/28/2021 | $12.44 | 32.90% | 1.44% | 1.40%(c) | 0.39% | 44% | $28,271 |
Year Ended 2/29/2020 | $9.71 | (2.72%) | 1.46% | 1.41%(c) | 0.66% | 28% | $23,646 |
Year Ended 2/28/2019 | $10.29 | 3.34% | 1.45% | 1.42%(c) | 0.32% | 79% | $31,097 |
Year Ended 2/28/2018 | $13.22 | 5.71% | 1.43% | 1.42%(c) | 0.61% | 59% | $41,290 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 19 |
February 28, 2022
20 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
February 28, 2022
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 21 |
February 28, 2022
22 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
February 28, 2022
Effective rate (%) | |
Class A | 0.14 |
Advisor Class | 0.14 |
Class C | 0.14 |
Institutional Class | 0.14 |
Institutional 2 Class | 0.04 |
Institutional 3 Class | 0.00 |
Class R | 0.14 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 23 |
February 28, 2022
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 335,149 |
Class C | — | 1.00(b) | 1,632 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
January 22, 2022 through June 30, 2024 | July 1, 2021 through January 21, 2022 | Prior to July 1, 2021 | |
Class A | 1.13% | 1.13% | 1.17% |
Advisor Class | 0.88 | 0.88 | 0.92 |
Class C | 1.88 | 1.88 | 1.92 |
Institutional Class | 0.88 | 0.88 | 0.92 |
Institutional 2 Class | 0.78 | 0.78 | 0.78 |
Institutional 3 Class | 0.73 | 0.74 | 0.74 |
Class R | 1.38 | 1.38 | 1.42 |
24 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
February 28, 2022
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(1,063,277) | 1,046,822 | 16,455 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
74,416,479 | 159,092,743 | 233,509,222 | 14,349,286 | 38,633,218 | 52,982,504 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
7,911,222 | 88,690,071 | — | 853,802,986 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,931,213,094 | 877,176,561 | (23,373,575) | 853,802,986 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 25 |
February 28, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 7,300,000 | 0.65 | 7 |
26 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
February 28, 2022
Shares | |
Class A | 2,451,935 |
Advisor Class | 185,751 |
Institutional 3 Class | 83,061 |
($) | |
Net investment income | 13,725,000 |
Net realized gain | 296,199,000 |
Net change in unrealized appreciation/(depreciation) | 129,758,000 |
Net increase in net assets from operations | 439,682,000 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 27 |
February 28, 2022
Shares | |
Class A | 39,170,046 |
Advisor Class | 2,434,767 |
Class C | 543,360 |
Institutional Class | 5,608,529 |
Institutional 2 Class | 1,608,162 |
Institutional 3 Class | 8,691,673 |
Class R | 303,824 |
($) | |
Net investment income | 14,586,000 |
Net realized gain | 21,580,000 |
Net change in unrealized appreciation/(depreciation) | 582,251,000 |
Net increase in net assets from operations | 618,417,000 |
28 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
February 28, 2022
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 29 |
February 28, 2022
30 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 31 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
58.82% | 54.41% | 6.10% | $257,433,767 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
32 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 33 |
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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
34 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 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 |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | 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. |
36 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Select Mid Cap Value Fund | Annual Report 2022 | 37 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
38 | Columbia Select Mid Cap Value Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
7 | |
8 | |
20 | |
21 | |
22 | |
24 | |
26 | |
37 | |
38 | |
38 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 10/15/96 | 3.62 | 10.29 | 12.32 | |
Institutional Class | 10/15/96 | 3.92 | 10.57 | 12.60 | |
Institutional 2 Class* | 11/08/12 | 3.92 | 10.57 | 12.59 | |
Institutional 3 Class* | 03/01/17 | 3.93 | 10.58 | 12.47 | |
S&P SmallCap 600 Index | 4.22 | 10.78 | 12.84 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Small Cap Index Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 98.1 |
Exchange-Traded Equity Funds | 1.2 |
Money Market Funds | 0.7 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 1.8 |
Consumer Discretionary | 11.9 |
Consumer Staples | 4.8 |
Energy | 5.8 |
Financials | 18.9 |
Health Care | 11.7 |
Industrials | 16.6 |
Information Technology | 13.0 |
Materials | 5.5 |
Real Estate | 8.1 |
Utilities | 1.9 |
Total | 100.0 |
4 | Columbia Small Cap Index Fund | Annual Report 2022 |
• | Health care was by far the weakest sector from a total return perspective, followed at some distance by consumer discretionary and information technology. |
• | On the basis of impact, health care, information technology and consumer discretionary were the weakest sectors. |
• | The worst performing industries for the annual period on the basis of total return were life sciences tools and services; technology hardware, storage and peripherals; interactive media and services; diversified consumer services; and airlines. |
Columbia Small Cap Index Fund | Annual Report 2022 | 5 |
• | Top individual detractors were cancer-focused testing laboratories operator NeoGenomics, Inc.; conversational commerce software provider LivePerson, Inc.; technology and service company for the energy, water and smart city space industries Itron, Inc.; 3D printer manufacturer 3D Systems Corp.; and e-commerce-driven digital manufacturer of custom prototypes and on-demand production parts Proto Labs, Inc. |
• | In terms of total return, the energy sector was the best relative performer, followed at some distance by the utilities and real estate sectors. |
• | On the basis of impact, which takes weightings and total returns into account, the energy, financials and real estate sectors were the biggest contributors to the Index’s return. |
• | The top performing industries for the annual period on the basis of total return were oil, gas and consumable fuels; marine; industrial conglomerates; trading companies and distributors; and air freight and logistics. |
• | Top individual contributors within the S&P Small Cap 600 Index during the annual period included oil and gas exploration, development and acquisition company Range Resources Corp.; oil and gas exploration and production companies Matador Resources Co. and SM Energy Co.; department store retailer Macy’s Inc.; and Internet-based postage solutions provider Stamps.com, Inc. The Fund’s position in Macy’s Inc. was eliminated during the period. |
• | Surpassing industrials, which had been the largest sector by weighting in the S&P Small Cap 600 Index during the prior annual period, financials was the largest sector by weighting in the S&P Small Cap 600 Index as of February 28, 2022, with a weighting of 18.95%. |
• | As always, each sector and stock in the S&P Small Cap 600 Index was represented in the Fund with approximately the same weighting as in the Index and therefore had a similar effect. |
6 | Columbia Small Cap Index Fund | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 966.20 | 1,022.56 | 2.19 | 2.26 | 0.45 |
Institutional Class | 1,000.00 | 1,000.00 | 967.60 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 967.40 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 967.60 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Columbia Small Cap Index Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 98.1% | ||
Issuer | Shares | Value ($) |
Communication Services 1.7% | ||
Diversified Telecommunication Services 0.3% | ||
ATN International, Inc. | 44,044 | 1,467,987 |
Cogent Communications Holdings, Inc. | 171,156 | 10,851,290 |
Consolidated Communications Holdings, Inc.(a) | 290,802 | 2,070,510 |
Total | 14,389,787 | |
Entertainment 0.2% | ||
Cinemark Holdings, Inc.(a) | 429,473 | 7,532,957 |
Marcus Corp. (The)(a) | 88,180 | 1,603,112 |
Total | 9,136,069 | |
Interactive Media & Services 0.2% | ||
Cars.com, Inc.(a) | 262,023 | 4,239,532 |
QuinStreet, Inc.(a) | 201,300 | 2,264,625 |
Total | 6,504,157 | |
Media 0.7% | ||
AMC Networks, Inc., Class A(a) | 117,908 | 4,887,287 |
EW Scripps Co. (The), Class A(a) | 230,654 | 5,134,358 |
Gannett Co, Inc.(a) | 574,130 | 2,847,685 |
Loyalty Ventures, Inc.(a) | 80,379 | 1,929,096 |
Scholastic Corp. | 122,876 | 5,170,622 |
TechTarget, Inc.(a) | 104,630 | 8,200,899 |
Thryv Holdings, Inc.(a) | 68,507 | 2,082,613 |
Total | 30,252,560 | |
Wireless Telecommunication Services 0.3% | ||
Shenandoah Telecommunications Co. | 201,552 | 4,504,687 |
Telephone and Data Systems, Inc. | 398,510 | 6,914,149 |
Total | 11,418,836 | |
Total Communication Services | 71,701,409 | |
Consumer Discretionary 11.6% | ||
Auto Components 1.4% | ||
American Axle & Manufacturing Holdings, Inc.(a) | 460,106 | 4,260,582 |
Cooper-Standard Holding, Inc.(a) | 68,539 | 871,816 |
Dorman Products, Inc.(a) | 114,810 | 10,725,550 |
Gentherm, Inc.(a) | 134,041 | 11,372,038 |
LCI Industries | 101,948 | 12,694,565 |
Motorcar Parts of America, Inc.(a) | 77,470 | 1,251,141 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Patrick Industries, Inc. | 90,654 | 6,467,256 |
Standard Motor Products, Inc. | 77,204 | 3,374,587 |
XPEL, Inc.(a) | 67,131 | 4,873,711 |
Total | 55,891,246 | |
Automobiles 0.2% | ||
Winnebago Industries, Inc. | 134,973 | 8,647,720 |
Diversified Consumer Services 0.4% | ||
Adtalem Global Education, Inc.(a) | 200,745 | 4,171,481 |
American Public Education, Inc.(a) | 75,469 | 1,506,361 |
Perdoceo Education Corp.(a) | 282,797 | 2,960,885 |
Strategic Education, Inc. | 91,294 | 5,388,172 |
WW International, Inc.(a) | 214,665 | 2,187,436 |
Total | 16,214,335 | |
Hotels, Restaurants & Leisure 1.7% | ||
BJ’s Restaurants, Inc.(a) | 94,005 | 3,014,740 |
Bloomin’ Brands, Inc.(a) | 327,616 | 8,062,630 |
Brinker International, Inc.(a) | 183,210 | 7,793,753 |
Cheesecake Factory, Inc. (The)(a) | 195,711 | 8,374,474 |
Chuy’s Holdings, Inc.(a) | 79,878 | 2,604,023 |
Dave & Buster’s Entertainment, Inc.(a) | 155,726 | 6,749,165 |
Dine Brands Global, Inc. | 69,451 | 5,822,772 |
El Pollo Loco Holdings, Inc.(a) | 78,165 | 1,037,250 |
Fiesta Restaurant Group, Inc.(a) | 69,117 | 696,008 |
Jack in the Box, Inc. | 87,260 | 7,527,920 |
Monarch Casino & Resort, Inc.(a) | 52,905 | 4,121,300 |
Red Robin Gourmet Burgers, Inc.(a) | 63,396 | 1,112,600 |
Ruth’s Hospitality Group, Inc. | 128,008 | 3,175,878 |
Shake Shack, Inc., Class A(a) | 157,885 | 11,797,167 |
Total | 71,889,680 | |
Household Durables 2.1% | ||
Cavco Industries, Inc.(a) | 34,427 | 9,385,833 |
Century Communities, Inc. | 119,845 | 7,636,523 |
Ethan Allen Interiors, Inc. | 88,649 | 2,310,193 |
Installed Building Products, Inc. | 94,669 | 9,154,492 |
iRobot Corp.(a) | 108,745 | 6,759,589 |
La-Z-Boy, Inc. | 178,793 | 5,217,180 |
8 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
LGI Homes, Inc.(a) | 86,164 | 10,867,865 |
M/I Homes, Inc.(a) | 117,385 | 5,785,907 |
MDC Holdings, Inc. | 228,087 | 10,113,378 |
Meritage Homes Corp.(a) | 150,507 | 14,836,980 |
Tupperware Brands Corp.(a) | 197,175 | 3,594,500 |
Universal Electronics, Inc.(a) | 52,852 | 1,756,272 |
Total | 87,418,712 | |
Internet & Direct Marketing Retail 0.3% | ||
Liquidity Services, Inc.(a) | 107,220 | 1,847,401 |
PetMed Express, Inc. | 84,481 | 2,276,763 |
Shutterstock, Inc. | 94,357 | 8,542,139 |
Total | 12,666,303 | |
Leisure Products 0.3% | ||
Sturm Ruger & Co., Inc. | 70,984 | 5,139,951 |
Vista Outdoor, Inc.(a) | 231,124 | 8,424,470 |
Total | 13,564,421 | |
Multiline Retail 0.1% | ||
Big Lots, Inc. | 131,326 | 4,564,892 |
Specialty Retail 3.9% | ||
Aaron’s Co., Inc. (The) | 126,998 | 2,665,688 |
Abercrombie & Fitch Co., Class A(a) | 238,328 | 9,075,530 |
America’s Car-Mart, Inc.(a) | 24,523 | 2,358,622 |
Asbury Automotive Group, Inc.(a) | 93,327 | 18,115,704 |
Barnes & Noble Education, Inc.(a) | 145,666 | 798,250 |
Bed Bath & Beyond, Inc.(a),(b) | 407,661 | 6,885,394 |
Boot Barn Holdings, Inc.(a) | 119,438 | 10,393,495 |
Buckle, Inc. (The) | 118,482 | 4,265,352 |
Caleres, Inc. | 154,368 | 3,204,680 |
Cato Corp. (The), Class A | 78,783 | 1,386,581 |
Chico’s FAS, Inc.(a) | 494,010 | 2,321,847 |
Children’s Place, Inc. (The)(a) | 56,413 | 3,551,762 |
Conn’s, Inc.(a) | 77,305 | 1,417,774 |
Designer Brands, Inc.(a) | 247,481 | 3,229,627 |
Genesco, Inc.(a) | 57,291 | 3,675,218 |
Group 1 Automotive, Inc. | 73,017 | 13,283,983 |
Guess?, Inc. | 157,216 | 3,443,030 |
Haverty Furniture Companies, Inc. | 60,019 | 1,705,140 |
Hibbett, Inc. | 60,715 | 2,737,032 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
LL Flooring Holdings, Inc.(a) | 117,337 | 1,884,432 |
MarineMax, Inc.(a) | 87,716 | 4,013,884 |
Monro, Inc. | 135,300 | 6,315,804 |
ODP Corp. (The)(a) | 185,154 | 8,146,776 |
Rent-A-Center, Inc. | 243,969 | 6,931,159 |
Sally Beauty Holdings, Inc.(a) | 455,959 | 7,878,972 |
Shoe Carnival, Inc. | 70,623 | 2,059,367 |
Signet Jewelers Ltd. | 214,024 | 15,088,692 |
Sleep Number Corp.(a) | 91,355 | 6,002,023 |
Sonic Automotive, Inc., Class A | 83,701 | 4,495,581 |
Zumiez, Inc.(a) | 86,282 | 3,838,686 |
Total | 161,170,085 | |
Textiles, Apparel & Luxury Goods 1.2% | ||
Fossil Group, Inc.(a) | 191,418 | 2,587,971 |
G-III Apparel Group Ltd.(a) | 176,317 | 4,891,034 |
Kontoor Brands, Inc. | 191,903 | 9,506,875 |
Movado Group, Inc. | 66,583 | 2,624,702 |
Oxford Industries, Inc. | 64,063 | 5,662,528 |
Steven Madden Ltd. | 308,628 | 13,166,070 |
Unifi, Inc.(a) | 56,057 | 1,052,190 |
Vera Bradley, Inc.(a) | 102,927 | 778,128 |
Wolverine World Wide, Inc. | 332,265 | 7,652,063 |
Total | 47,921,561 | |
Total Consumer Discretionary | 479,948,955 | |
Consumer Staples 4.7% | ||
Beverages 0.7% | ||
Celsius Holdings, Inc.(a) | 153,914 | 9,833,566 |
Coca-Cola Bottling Co. Consolidated | 18,724 | 9,304,517 |
MGP Ingredients, Inc. | 50,502 | 4,020,464 |
National Beverage Corp. | 94,110 | 4,141,781 |
Total | 27,300,328 | |
Food & Staples Retailing 0.7% | ||
Andersons, Inc. (The) | 124,872 | 5,694,163 |
PriceSmart, Inc. | 97,048 | 7,057,331 |
SpartanNash Co. | 144,993 | 4,080,103 |
The Chefs’ Warehouse(a) | 131,424 | 4,317,278 |
United Natural Foods, Inc.(a) | 227,308 | 9,144,601 |
Total | 30,293,476 |
Columbia Small Cap Index Fund | Annual Report 2022 | 9 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Food Products 1.7% | ||
B&G Foods, Inc. | 261,785 | 7,748,836 |
Calavo Growers, Inc. | 71,331 | 3,045,120 |
Cal-Maine Foods, Inc. | 151,062 | 6,687,515 |
Fresh Del Monte Produce, Inc. | 134,253 | 3,474,468 |
Hostess Brands, Inc.(a) | 558,916 | 12,039,051 |
J&J Snack Foods Corp. | 59,983 | 9,820,417 |
John B. Sanfilippo & Son, Inc. | 35,788 | 2,845,862 |
Seneca Foods Corp., Class A(a) | 25,304 | 1,258,874 |
Simply Good Foods Co. (The)(a) | 340,194 | 13,481,888 |
Tootsie Roll Industries, Inc. | 69,810 | 2,356,087 |
TreeHouse Foods, Inc.(a) | 225,025 | 8,832,231 |
Total | 71,590,349 | |
Household Products 0.5% | ||
Central Garden & Pet Co.(a) | 39,326 | 1,861,693 |
Central Garden & Pet Co., Class A(a) | 162,009 | 7,134,876 |
WD-40 Co. | 55,300 | 11,717,517 |
Total | 20,714,086 | |
Personal Products 0.8% | ||
Edgewell Personal Care Co. | 219,292 | 7,824,338 |
elf Beauty, Inc.(a) | 193,113 | 5,103,977 |
Inter Parfums, Inc. | 71,686 | 6,658,196 |
Medifast, Inc. | 46,857 | 8,715,402 |
Usana Health Sciences, Inc.(a) | 47,104 | 4,145,623 |
Total | 32,447,536 | |
Tobacco 0.3% | ||
Universal Corp. | 99,261 | 5,371,013 |
Vector Group Ltd. | 527,891 | 5,917,658 |
Total | 11,288,671 | |
Total Consumer Staples | 193,634,446 | |
Energy 5.7% | ||
Energy Equipment & Services 1.8% | ||
Archrock, Inc. | 540,631 | 4,514,269 |
Bristow Group, Inc.(a) | 93,494 | 3,098,391 |
Core Laboratories NV | 186,727 | 5,146,196 |
DMC Global Inc(a) | 75,534 | 2,220,700 |
Dril-Quip, Inc.(a) | 142,742 | 4,116,679 |
Helix Energy Solutions Group, Inc.(a) | 572,144 | 2,317,183 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Helmerich & Payne, Inc. | 435,249 | 15,769,071 |
Nabors Industries Ltd.(a) | 31,248 | 3,922,874 |
Oceaneering International, Inc.(a) | 402,575 | 5,893,698 |
Oil States International, Inc.(a) | 247,582 | 1,294,854 |
Patterson-UTI Energy, Inc. | 867,731 | 12,521,358 |
ProPetro Holding Corp.(a) | 341,927 | 4,366,408 |
RPC, Inc.(a) | 287,167 | 2,518,455 |
US Silica Holdings, Inc.(a) | 300,809 | 4,349,698 |
Total | 72,049,834 | |
Oil, Gas & Consumable Fuels 3.9% | ||
Callon Petroleum Co.(a) | 191,497 | 10,792,771 |
Civitas Resources, Inc. | 290,740 | 14,673,648 |
CONSOL Energy, Inc.(a) | 127,960 | 3,933,490 |
Dorian LPG Ltd. | 111,724 | 1,539,557 |
Green Plains, Inc.(a) | 216,198 | 7,078,323 |
Laredo Petroleum, Inc.(a) | 57,844 | 4,428,537 |
Matador Resources Co. | 444,917 | 22,067,883 |
Par Pacific Holdings, Inc.(a) | 184,529 | 2,509,594 |
PBF Energy, Inc., Class A(a) | 383,193 | 6,368,668 |
Range Resources Corp.(a) | 1,007,625 | 23,124,994 |
Ranger Oil Corp.(a) | 85,066 | 2,871,828 |
Renewable Energy Group, Inc.(a) | 202,786 | 12,471,339 |
REX American Resources Corp.(a) | 21,196 | 2,002,174 |
SM Energy Co. | 490,008 | 17,400,184 |
Southwestern Energy Co.(a) | 4,094,274 | 20,430,427 |
Talos Energy, Inc.(a) | 165,148 | 2,594,475 |
World Fuel Services Corp. | 254,819 | 7,221,570 |
Total | 161,509,462 | |
Total Energy | 233,559,296 | |
Financials 18.6% | ||
Banks 10.6% | ||
Allegiance Bancshares, Inc. | 75,971 | 3,255,357 |
Ameris Bancorp | 266,853 | 13,209,224 |
Banc of California, Inc. | 218,218 | 4,287,984 |
BancFirst Corp. | 76,207 | 5,954,053 |
Bancorp, Inc. (The)(a) | 229,849 | 6,734,576 |
BankUnited, Inc. | 359,380 | 15,884,596 |
Banner Corp. | 138,168 | 8,512,531 |
Berkshire Hills Bancorp, Inc. | 196,283 | 6,104,401 |
10 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Brookline Bancorp, Inc. | 313,188 | 5,368,042 |
Central Pacific Financial Corp. | 112,815 | 3,293,070 |
City Holding Co. | 60,984 | 4,858,595 |
Columbia Banking System, Inc. | 313,583 | 11,486,545 |
Community Bank System, Inc. | 217,550 | 15,868,097 |
Customers Bancorp, Inc.(a) | 120,286 | 7,403,603 |
CVB Financial Corp. | 513,875 | 12,117,173 |
Dime Community Bancshares, Inc. | 133,812 | 4,548,270 |
Eagle Bancorp, Inc. | 128,870 | 7,721,890 |
FB Financial Corp. | 144,347 | 6,414,781 |
First BanCorp | 829,542 | 11,713,133 |
First BanCorp | 139,278 | 6,250,797 |
First Commonwealth Financial Corp. | 382,942 | 6,184,513 |
First Financial Bancorp | 378,174 | 9,295,517 |
First Hawaiian, Inc. | 519,637 | 15,105,848 |
Hanmi Financial Corp. | 122,661 | 3,203,905 |
Heritage Financial Corp. | 141,859 | 3,719,543 |
Hilltop Holdings, Inc. | 245,258 | 7,583,377 |
HomeStreet, Inc. | 82,492 | 4,245,038 |
Hope Bancorp, Inc. | 484,869 | 8,223,378 |
Independent Bank Corp. | 191,661 | 16,484,763 |
Independent Bank Group, Inc. | 148,950 | 11,491,493 |
Investors Bancorp, Inc. | 909,428 | 15,223,825 |
Lakeland Financial Corp. | 102,052 | 8,185,591 |
Meta Financial Group, Inc. | 127,752 | 7,076,183 |
National Bank Holdings Corp., Class A | 122,218 | 5,424,035 |
NBT Bancorp, Inc. | 174,868 | 6,709,685 |
Northwest Bancshares, Inc. | 510,537 | 7,188,361 |
OFG Bancorp | 201,076 | 5,666,322 |
Pacific Premier Bancorp, Inc. | 380,614 | 14,733,568 |
Park National Corp. | 58,232 | 7,806,582 |
Preferred Bank | 55,303 | 4,340,179 |
Renasant Corp. | 224,875 | 8,210,186 |
S&T Bancorp, Inc. | 158,732 | 4,934,978 |
Seacoast Banking Corp. of Florida | 235,371 | 8,626,347 |
ServisFirst Bancshares, Inc. | 196,811 | 17,197,345 |
Simmons First National Corp., Class A | 463,208 | 13,210,692 |
Southside Bancshares, Inc. | 130,197 | 5,427,913 |
Tompkins Financial Corp. | 47,897 | 3,788,653 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Triumph Bancorp, Inc.(a) | 95,266 | 9,557,085 |
Trustmark Corp. | 251,914 | 7,932,772 |
United Community Banks, Inc. | 422,164 | 16,320,860 |
Veritex Holdings, Inc. | 198,853 | 8,079,397 |
Westamerica BanCorp | 108,374 | 6,428,746 |
Total | 438,593,398 | |
Capital Markets 0.9% | ||
B Riley Financial, Inc. | 64,504 | 3,841,213 |
Blucora, Inc.(a) | 196,525 | 3,910,848 |
BrightSphere Investment Group, Inc. | 144,606 | 3,451,745 |
Donnelley Financial Solutions, Inc.(a) | 117,654 | 3,776,693 |
Greenhill & Co., Inc. | 55,952 | 989,231 |
Piper Sandler Companies | 56,938 | 8,427,393 |
StoneX Group, Inc.(a) | 67,948 | 5,126,677 |
Virtus Investment Partners, Inc. | 28,772 | 6,923,119 |
WisdomTree Investments, Inc. | 439,084 | 2,472,043 |
Total | 38,918,962 | |
Consumer Finance 0.9% | ||
Encore Capital Group, Inc.(a) | 100,027 | 6,600,782 |
Enova International, Inc.(a) | 146,917 | 5,989,806 |
Ezcorp, Inc., Class A(a) | 214,141 | 1,282,705 |
Green Dot Corp., Class A(a) | 220,583 | 6,319,703 |
LendingTree, Inc.(a) | 46,261 | 5,598,044 |
PRA Group, Inc.(a) | 175,929 | 7,851,711 |
World Acceptance Corp.(a) | 17,024 | 3,344,705 |
Total | 36,987,456 | |
Insurance 3.0% | ||
Ambac Financial Group, Inc.(a) | 186,784 | 2,396,439 |
American Equity Investment Life Holding Co. | 332,137 | 12,518,244 |
AMERISAFE, Inc. | 78,112 | 3,679,075 |
Assured Guaranty Ltd. | 281,587 | 17,449,946 |
eHealth, Inc.(a) | 95,801 | 1,488,748 |
Employers Holdings, Inc. | 112,803 | 4,383,525 |
Genworth Financial, Inc., Class A(a) | 2,046,721 | 8,309,687 |
HCI Group, Inc. | 32,254 | 2,008,134 |
Horace Mann Educators Corp. | 167,357 | 6,960,378 |
James River Group Holdings Ltd. | 150,426 | 4,001,332 |
Mr. Cooper Group, Inc.(a) | 303,035 | 15,403,269 |
Columbia Small Cap Index Fund | Annual Report 2022 | 11 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Palomar Holdings, Inc.(a) | 97,394 | 6,275,095 |
ProAssurance Corp. | 217,764 | 5,248,112 |
Safety Insurance Group, Inc. | 57,413 | 4,790,541 |
Selectquote, Inc.(a) | 502,651 | 1,563,245 |
SiriusPoint Ltd.(a) | 352,742 | 2,606,763 |
Stewart Information Services Corp. | 108,474 | 7,363,215 |
Trupanion, Inc.(a) | 138,413 | 12,405,957 |
United Fire Group, Inc. | 87,009 | 2,402,318 |
Universal Insurance Holdings, Inc. | 113,154 | 1,308,060 |
Total | 122,562,083 | |
Mortgage Real Estate Investment Trusts (REITS) 1.3% | ||
Apollo Commercial Real Estate Finance, Inc. | 530,453 | 6,922,412 |
ARMOUR Residential REIT, Inc. | 361,792 | 2,941,369 |
Ellington Financial, Inc. | 220,073 | 3,888,690 |
Franklin BSP Realty Trust, Inc. | 177,292 | 2,340,254 |
Granite Point Mortgage Trust, Inc. | 216,977 | 2,434,482 |
Invesco Mortgage Capital, Inc. | 1,257,518 | 2,741,389 |
KKR Real Estate Finance Trust, Inc. | 179,106 | 3,845,406 |
New York Mortgage Trust, Inc. | 1,529,985 | 5,370,247 |
PennyMac Mortgage Investment Trust | 391,312 | 6,104,467 |
Ready Capital Corp. | 237,494 | 3,526,786 |
Redwood Trust, Inc. | 462,582 | 4,806,227 |
Two Harbors Investment Corp. | 1,387,263 | 7,019,551 |
Total | 51,941,280 | |
Thrifts & Mortgage Finance 1.9% | ||
Axos Financial, Inc.(a) | 215,995 | 11,823,566 |
Capitol Federal Financial, Inc. | 520,826 | 5,687,420 |
Flagstar Bancorp, Inc. | 213,246 | 9,719,753 |
NMI Holdings, Inc., Class A(a) | 345,887 | 8,003,825 |
Northfield Bancorp, Inc. | 175,913 | 2,761,834 |
Provident Financial Services, Inc. | 311,518 | 7,392,322 |
TrustCo Bank Corp. | 77,527 | 2,649,098 |
Walker & Dunlop, Inc. | 118,898 | 16,449,538 |
WSFS Financial Corp. | 264,132 | 13,425,830 |
Total | 77,913,186 | |
Total Financials | 766,916,365 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care 11.5% | ||
Biotechnology 2.0% | ||
Anika Therapeutics, Inc.(a) | 58,237 | 1,892,703 |
Avid Bioservices, Inc.(a) | 247,441 | 5,067,592 |
Coherus Biosciences, Inc.(a) | 257,084 | 3,031,020 |
Cytokinetics, Inc.(a) | 338,372 | 11,951,299 |
Eagle Pharmaceuticals, Inc.(a) | 45,842 | 2,172,452 |
Emergent BioSolutions, Inc.(a) | 193,145 | 7,992,340 |
Enanta Pharmaceuticals, Inc.(a) | 72,574 | 5,110,661 |
iTeos Therapeutics, Inc.(a) | 80,958 | 2,925,013 |
Ligand Pharmaceuticals, Inc.(a) | 67,414 | 6,823,645 |
Myriad Genetics, Inc.(a) | 322,123 | 7,853,359 |
Organogenesis Holdings, Inc.(a) | 254,272 | 1,891,784 |
REGENXBIO, Inc.(a) | 151,821 | 3,979,228 |
uniQure NV(a) | 145,370 | 2,469,836 |
Vanda Pharmaceuticals, Inc.(a) | 224,734 | 2,552,978 |
Vericel Corp.(a) | 188,845 | 7,782,302 |
Xencor, Inc.(a) | 235,908 | 7,386,280 |
Total | 80,882,492 | |
Health Care Equipment & Supplies 3.1% | ||
Angiodynamics, Inc.(a) | 155,908 | 3,668,515 |
Artivion, Inc.(a) | 158,652 | 3,101,647 |
Avanos Medical, Inc.(a) | 194,379 | 6,879,073 |
BioLife Solutions, Inc.(a) | 118,208 | 2,777,888 |
Cardiovascular Systems, Inc.(a) | 163,577 | 3,444,932 |
CONMED Corp. | 117,978 | 17,243,664 |
Cutera, Inc.(a) | 65,917 | 2,528,576 |
Glaukos Corp.(a) | 189,147 | 10,461,721 |
Heska Corp.(a) | 43,207 | 6,135,394 |
Inogen, Inc.(a) | 82,499 | 2,878,390 |
Integer Holdings Corp.(a) | 133,194 | 11,170,981 |
Lantheus Holdings, Inc.(a) | 273,056 | 13,057,538 |
LeMaitre Vascular, Inc. | 77,520 | 3,679,874 |
Meridian Bioscience, Inc.(a) | 174,884 | 4,424,565 |
Merit Medical Systems, Inc.(a) | 204,969 | 13,329,134 |
Mesa Laboratories, Inc. | 21,077 | 5,381,590 |
Natus Medical, Inc.(a) | 137,764 | 3,832,594 |
OraSure Technologies, Inc.(a) | 290,591 | 2,266,610 |
Orthofix Medical, Inc.(a) | 79,648 | 2,706,439 |
12 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
SurModics, Inc.(a) | 55,958 | 2,511,395 |
Tactile Systems Technology, Inc.(a) | 79,963 | 1,628,047 |
Varex Imaging Corp.(a) | 158,934 | 3,757,200 |
Zynex, Inc. | 87,968 | 553,317 |
Total | 127,419,084 | |
Health Care Providers & Services 3.3% | ||
Addus HomeCare Corp.(a) | 64,247 | 5,463,565 |
AMN Healthcare Services, Inc.(a) | 190,700 | 20,240,898 |
Apollo Medical Holdings, Inc.(a) | 152,372 | 7,332,141 |
Community Health Systems, Inc.(a) | 500,930 | 5,264,774 |
Corvel Corp.(a) | 37,884 | 6,025,829 |
Covetrus, Inc.(a) | 416,847 | 7,386,529 |
Cross Country Healthcare, Inc.(a) | 142,571 | 3,183,610 |
Ensign Group, Inc. (The) | 211,746 | 17,795,134 |
Fulgent Genetics, Inc.(a) | 78,217 | 4,872,919 |
Hanger, Inc.(a) | 148,339 | 2,687,903 |
Joint Corp. (The)(a) | 58,140 | 2,383,740 |
Mednax, Inc.(a) | 348,735 | 8,184,810 |
ModivCare, Inc.(a) | 49,697 | 5,864,246 |
Owens & Minor, Inc. | 304,379 | 13,438,333 |
Pennant Group, Inc. (The)(a) | 109,128 | 1,773,330 |
RadNet, Inc.(a) | 178,912 | 4,413,759 |
Select Medical Holdings Corp. | 427,486 | 9,896,301 |
Tivity Health, Inc.(a) | 178,613 | 4,872,563 |
U.S. Physical Therapy, Inc. | 52,085 | 4,790,257 |
Total | 135,870,641 | |
Health Care Technology 1.1% | ||
Allscripts Healthcare Solutions, Inc.(a) | 494,438 | 9,621,763 |
Computer Programs & Systems, Inc.(a) | 59,088 | 1,818,728 |
HealthStream, Inc.(a) | 101,853 | 2,086,968 |
NextGen Healthcare, Inc.(a) | 231,725 | 4,525,589 |
Omnicell, Inc.(a) | 177,260 | 22,916,173 |
OptimizeRx Corp.(a) | 71,682 | 3,246,478 |
Simulations Plus, Inc. | 63,394 | 2,497,090 |
Tabula Rasa HealthCare, Inc.(a) | 95,447 | 544,048 |
Total | 47,256,837 | |
Life Sciences Tools & Services 0.3% | ||
NeoGenomics, Inc.(a) | 496,656 | 10,633,405 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pharmaceuticals 1.7% | ||
Amphastar Pharmaceuticals, Inc.(a) | 148,622 | 4,118,316 |
ANI Pharmaceuticals, Inc.(a) | 43,659 | 1,635,030 |
Cara Therapeutics, Inc.(a) | 170,360 | 1,766,633 |
Collegium Pharmaceutical, Inc.(a) | 139,446 | 2,715,014 |
Corcept Therapeutics, Inc.(a) | 382,840 | 8,533,504 |
Endo International PLC(a) | 942,595 | 2,931,470 |
Harmony Biosciences Holdings, Inc.(a) | 91,988 | 3,675,840 |
Innoviva, Inc.(a) | 252,289 | 4,846,472 |
Nektar Therapeutics(a) | 744,476 | 7,623,434 |
Pacira Pharmaceuticals, Inc.(a) | 179,684 | 11,983,126 |
Phibro Animal Health Corp., Class A | 82,041 | 1,747,473 |
Prestige Consumer Healthcare, Inc.(a) | 202,112 | 12,031,727 |
Supernus Pharmaceuticals, Inc.(a) | 214,524 | 6,854,042 |
Total | 70,462,081 | |
Total Health Care | 472,524,540 | |
Industrials 16.3% | ||
Aerospace & Defense 1.2% | ||
AAR Corp.(a) | 134,500 | 6,044,430 |
Aerojet Rocketdyne Holdings, Inc. | 301,998 | 11,702,423 |
Aerovironment, Inc.(a) | 93,078 | 6,613,192 |
Kaman Corp. | 112,343 | 4,876,810 |
Moog, Inc., Class A | 118,095 | 9,814,875 |
National Presto Industries, Inc. | 20,447 | 1,625,537 |
Park Aerospace Corp. | 78,398 | 1,087,380 |
Triumph Group, Inc.(a) | 260,631 | 6,526,200 |
Total | 48,290,847 | |
Air Freight & Logistics 0.8% | ||
Atlas Air Worldwide Holdings, Inc.(a) | 108,898 | 8,533,247 |
Forward Air Corp. | 108,745 | 11,220,309 |
HUB Group, Inc., Class A(a) | 137,022 | 11,564,657 |
Total | 31,318,213 | |
Airlines 0.5% | ||
Allegiant Travel Co.(a) | 61,290 | 10,669,976 |
Hawaiian Holdings, Inc.(a) | 206,586 | 3,962,319 |
Skywest, Inc.(a) | 203,226 | 5,712,683 |
Total | 20,344,978 |
Columbia Small Cap Index Fund | Annual Report 2022 | 13 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Building Products 1.8% | ||
AAON, Inc. | 167,075 | 9,783,912 |
American Woodmark Corp.(a) | 66,833 | 3,580,912 |
Apogee Enterprises, Inc. | 102,198 | 4,606,064 |
Gibraltar Industries, Inc.(a) | 131,826 | 6,369,832 |
Griffon Corp. | 192,046 | 4,426,660 |
Insteel Industries, Inc. | 78,289 | 2,905,305 |
PGT, Inc.(a) | 240,531 | 5,173,822 |
Quanex Building Products Corp. | 135,223 | 3,091,198 |
Resideo Technologies, Inc.(a) | 582,432 | 14,991,800 |
UFP Industries, Inc. | 249,647 | 21,407,230 |
Total | 76,336,735 | |
Commercial Services & Supplies 2.2% | ||
ABM Industries, Inc. | 271,240 | 12,159,689 |
Brady Corp., Class A | 195,755 | 9,020,390 |
CoreCivic, Inc.(a) | 485,212 | 4,420,281 |
Deluxe Corp. | 171,866 | 5,346,751 |
GEO Group, Inc. (The)(a) | 494,288 | 2,945,957 |
Harsco Corp.(a) | 319,497 | 3,805,209 |
Healthcare Services Group, Inc. | 300,679 | 4,756,742 |
HNI Corp. | 175,711 | 7,149,681 |
Interface, Inc. | 238,219 | 3,108,758 |
KAR Auction Services, Inc.(a) | 488,718 | 9,021,734 |
Matthews International Corp., Class A | 127,522 | 4,231,180 |
Pitney Bowes, Inc. | 667,607 | 3,324,683 |
Unifirst Corp. | 61,419 | 11,132,194 |
US Ecology, Inc.(a) | 127,115 | 6,030,336 |
Viad Corp.(a) | 82,815 | 2,893,556 |
Total | 89,347,141 | |
Construction & Engineering 1.0% | ||
Arcosa, Inc. | 194,956 | 10,268,333 |
Comfort Systems U.S.A., Inc. | 145,384 | 12,500,116 |
Granite Construction, Inc. | 184,859 | 5,595,682 |
MYR Group, Inc.(a) | 68,051 | 6,107,577 |
NV5 Global, Inc.(a) | 47,778 | 5,124,191 |
Total | 39,595,899 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Electrical Equipment 0.4% | ||
AZZ, Inc. | 100,201 | 4,932,895 |
Encore Wire Corp. | 81,710 | 9,512,678 |
Powell Industries, Inc. | 36,316 | 767,721 |
Total | 15,213,294 | |
Machinery 5.0% | ||
Alamo Group, Inc. | 39,923 | 5,553,689 |
Albany International Corp., Class A | 130,616 | 11,470,697 |
Astec Industries, Inc. | 91,831 | 4,573,184 |
Barnes Group, Inc. | 187,884 | 8,727,212 |
Chart Industries, Inc.(a) | 143,694 | 20,749,414 |
CIRCOR International, Inc.(a) | 81,718 | 2,201,483 |
Enerpac Tool Group Corp. | 243,205 | 4,195,286 |
EnPro Industries, Inc. | 83,118 | 9,179,552 |
ESCO Technologies, Inc. | 105,126 | 7,313,616 |
Federal Signal Corp. | 246,356 | 8,895,915 |
Franklin Electric Co., Inc. | 157,329 | 13,303,740 |
Greenbrier Companies, Inc. (The) | 131,286 | 5,833,037 |
Hillenbrand, Inc. | 294,625 | 14,056,559 |
John Bean Technologies Corp. | 128,147 | 14,528,025 |
Lindsay Corp. | 44,001 | 5,773,371 |
Meritor, Inc.(a) | 282,947 | 10,075,743 |
Mueller Industries, Inc. | 231,410 | 13,201,940 |
Proto Labs, Inc.(a) | 111,294 | 6,258,062 |
SPX Corp.(a) | 183,189 | 9,287,682 |
SPX FLOW, Inc. | 169,305 | 14,541,606 |
Standex International Corp. | 49,253 | 5,217,370 |
Tennant Co. | 74,772 | 5,890,538 |
Titan International, Inc.(a) | 206,338 | 2,310,986 |
Wabash National Corp. | 199,583 | 3,400,894 |
Total | 206,539,601 | |
Marine 0.4% | ||
Matson, Inc. | 169,551 | 18,781,164 |
Professional Services 1.4% | ||
Exponent, Inc. | 210,212 | 19,919,689 |
Forrester Research, Inc.(a) | 44,853 | 2,329,216 |
Heidrick & Struggles International, Inc. | 79,031 | 3,378,575 |
Kelly Services, Inc., Class A | 145,344 | 3,084,200 |
14 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Korn/Ferry International | 219,869 | 14,568,520 |
Mantech International Corp., Class A | 111,181 | 9,269,160 |
Resources Connection, Inc. | 125,839 | 2,088,928 |
TrueBlue, Inc.(a) | 143,125 | 3,893,000 |
Total | 58,531,288 | |
Road & Rail 0.4% | ||
ArcBest Corp. | 103,138 | 9,558,830 |
Heartland Express, Inc. | 187,792 | 2,696,693 |
Marten Transport Ltd. | 240,898 | 4,155,490 |
Total | 16,411,013 | |
Trading Companies & Distributors 1.2% | ||
Applied Industrial Technologies, Inc. | 155,130 | 15,683,643 |
Boise Cascade Co. | 158,656 | 12,682,961 |
DXP Enterprises, Inc.(a) | 68,920 | 1,978,693 |
GMS, Inc.(a) | 174,053 | 9,442,375 |
NOW, Inc.(a) | 445,979 | 4,165,444 |
Veritiv Corp.(a) | 55,923 | 5,993,268 |
Total | 49,946,384 | |
Total Industrials | 670,656,557 | |
Information Technology 12.8% | ||
Communications Equipment 1.5% | ||
ADTRAN, Inc. | 196,368 | 4,043,217 |
CalAmp Corp.(a) | 144,743 | 1,021,886 |
Comtech Telecommunications Corp. | 106,280 | 2,187,242 |
Digi International, Inc.(a) | 137,599 | 2,762,988 |
Extreme Networks, Inc.(a) | 523,913 | 6,019,760 |
Harmonic, Inc.(a) | 413,744 | 3,851,957 |
InterDigital, Inc. | 123,751 | 7,972,040 |
NETGEAR, Inc.(a) | 118,051 | 3,141,337 |
Netscout Systems, Inc.(a) | 298,001 | 9,276,771 |
Plantronics, Inc.(a) | 172,375 | 4,855,804 |
Viavi Solutions, Inc.(a) | 958,791 | 15,724,172 |
Total | 60,857,174 | |
Electronic Equipment, Instruments & Components 3.8% | ||
Advanced Energy Industries, Inc. | 151,955 | 13,045,337 |
Arlo Technologies, Inc.(a) | 340,050 | 3,155,664 |
Badger Meter, Inc. | 117,990 | 11,729,386 |
Benchmark Electronics, Inc. | 142,088 | 3,714,180 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
CTS Corp. | 129,991 | 4,931,859 |
ePlus, Inc.(a) | 108,979 | 5,111,115 |
Fabrinet(a) | 149,325 | 14,951,912 |
FARO Technologies, Inc.(a) | 73,432 | 4,019,668 |
Insight Enterprises, Inc.(a) | 140,725 | 14,635,400 |
Itron, Inc.(a) | 182,621 | 8,705,543 |
Knowles Corp.(a) | 372,506 | 8,113,181 |
Methode Electronics, Inc. | 153,976 | 7,027,465 |
OSI Systems, Inc.(a) | 67,309 | 5,429,817 |
PC Connection, Inc. | 44,404 | 2,166,471 |
Plexus Corp.(a) | 113,956 | 9,283,995 |
Rogers Corp.(a) | 75,554 | 20,626,242 |
Sanmina Corp.(a) | 259,687 | 10,330,349 |
Scansource, Inc.(a) | 102,988 | 3,252,361 |
TTM Technologies, Inc.(a) | 420,969 | 5,291,580 |
Total | 155,521,525 | |
IT Services 1.4% | ||
CSG Systems International, Inc. | 131,689 | 8,127,845 |
EVERTEC, Inc. | 240,963 | 9,725,267 |
ExlService Holdings, Inc.(a) | 134,339 | 16,226,808 |
Perficient, Inc.(a) | 132,867 | 13,539,147 |
TTEC Holdings, Inc. | 73,923 | 5,876,878 |
Unisys Corp.(a) | 270,881 | 5,788,727 |
Total | 59,284,672 | |
Semiconductors & Semiconductor Equipment 3.4% | ||
Axcelis Technologies, Inc.(a) | 134,376 | 9,301,507 |
Ceva, Inc.(a) | 92,674 | 3,778,319 |
Cohu, Inc.(a) | 196,400 | 6,123,752 |
Diodes, Inc.(a) | 181,596 | 16,269,186 |
Formfactor, Inc.(a) | 315,476 | 12,773,623 |
Ichor Holdings Ltd.(a) | 114,606 | 4,037,569 |
Kulicke & Soffa Industries, Inc. | 249,974 | 13,058,642 |
MaxLinear, Inc., Class A(a) | 284,775 | 17,470,946 |
Onto Innovation, Inc.(a) | 198,780 | 17,136,824 |
PDF Solutions, Inc.(a) | 120,515 | 3,297,291 |
Photronics, Inc.(a) | 246,674 | 4,543,735 |
Rambus, Inc.(a) | 441,163 | 11,911,401 |
SMART Global Holdings, Inc.(a) | 186,834 | 5,128,593 |
Columbia Small Cap Index Fund | Annual Report 2022 | 15 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Ultra Clean Holdings, Inc.(a) | 181,120 | 8,297,107 |
Veeco Instruments, Inc.(a) | 203,726 | 5,820,452 |
Total | 138,948,947 | |
Software 2.4% | ||
8x8, Inc.(a) | 459,658 | 5,957,168 |
Agilysys, Inc.(a) | 78,429 | 3,296,371 |
Alarm.com Holdings, Inc.(a) | 185,780 | 12,229,897 |
Bottomline Technologies de, Inc.(a) | 156,017 | 8,836,803 |
Consensus Cloud Solutions, Inc.(a) | 64,739 | 3,603,373 |
Ebix, Inc. | 96,111 | 2,836,235 |
LivePerson, Inc.(a) | 265,466 | 5,383,650 |
OneSpan, Inc.(a) | 138,647 | 1,910,556 |
Progress Software Corp. | 176,856 | 7,795,812 |
SPS Commerce, Inc.(a) | 145,074 | 18,837,859 |
Vonage Holdings Corp.(a) | 1,018,443 | 20,694,762 |
Xperi Holding Corp. | 421,659 | 7,303,134 |
Total | 98,685,620 | |
Technology Hardware, Storage & Peripherals 0.3% | ||
3D Systems Corp.(a) | 515,240 | 9,181,577 |
Corsair Gaming, Inc.(a) | 133,536 | 3,082,011 |
Diebold, Inc.(a) | 293,948 | 2,557,347 |
Total | 14,820,935 | |
Total Information Technology | 528,118,873 | |
Materials 5.4% | ||
Chemicals 2.9% | ||
AdvanSix, Inc. | 113,480 | 4,546,009 |
American Vanguard Corp. | 108,561 | 1,636,014 |
Balchem Corp. | 130,624 | 18,070,524 |
Ferro Corp.(a) | 333,769 | 7,252,800 |
FutureFuel Corp. | 104,155 | 766,581 |
GCP Applied Technologies(a) | 216,457 | 6,835,712 |
Hawkins, Inc. | 75,798 | 3,430,618 |
HB Fuller Co. | 211,979 | 14,493,004 |
Innospec, Inc. | 99,422 | 9,494,801 |
Koppers Holdings, Inc.(a) | 85,945 | 2,460,605 |
Kraton Performance Polymers, Inc.(a) | 129,680 | 5,984,732 |
Livent Corp.(a) | 651,770 | 15,349,184 |
Quaker Chemical Corp. | 54,136 | 10,048,183 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Rayonier Advanced Materials, Inc.(a) | 257,106 | 1,509,212 |
Stepan Co. | 85,902 | 8,901,165 |
Tredegar Corp. | 103,444 | 1,190,640 |
Trinseo PLC | 156,663 | 8,140,210 |
Total | 120,109,994 | |
Containers & Packaging 0.3% | ||
Myers Industries, Inc. | 146,183 | 2,429,562 |
O-I Glass, Inc.(a) | 632,617 | 8,084,845 |
Total | 10,514,407 | |
Metals & Mining 1.8% | ||
Allegheny Technologies, Inc.(a) | 513,300 | 13,212,342 |
Arconic Corp.(a) | 429,553 | 13,187,277 |
Carpenter Technology Corp. | 194,379 | 7,462,210 |
Century Aluminum Co.(a) | 203,598 | 4,808,985 |
Compass Minerals International, Inc. | 137,486 | 8,059,429 |
Haynes International, Inc. | 51,186 | 1,871,360 |
Kaiser Aluminum Corp. | 63,989 | 6,174,939 |
Materion Corp. | 82,448 | 6,888,530 |
Olympic Steel, Inc. | 37,534 | 1,004,785 |
SunCoke Energy, Inc. | 335,137 | 2,657,636 |
TimkenSteel Corp.(a) | 165,893 | 2,991,051 |
Warrior Met Coal, Inc. | 207,385 | 6,532,628 |
Total | 74,851,172 | |
Paper & Forest Products 0.4% | ||
Clearwater Paper Corp.(a) | 67,321 | 1,940,864 |
Glatfelter Corp. | 179,607 | 2,467,800 |
Mercer International, Inc. | 162,496 | 2,172,572 |
Neenah, Inc. | 67,603 | 2,633,137 |
Schweitzer-Mauduit International, Inc. | 126,897 | 3,961,724 |
Sylvamo Corp.(a) | 142,331 | 4,967,352 |
Total | 18,143,449 | |
Total Materials | 223,619,022 | |
Real Estate 7.9% | ||
Equity Real Estate Investment Trusts (REITS) 7.3% | ||
Acadia Realty Trust | 356,811 | 7,650,028 |
Agree Realty Corp. | 281,482 | 18,057,070 |
Alexander & Baldwin, Inc. | 292,575 | 6,562,457 |
American Assets Trust, Inc. | 212,224 | 7,758,909 |
16 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Armada Hoffler Properties, Inc. | 248,102 | 3,642,137 |
Brandywine Realty Trust | 690,297 | 9,201,659 |
CareTrust REIT, Inc. | 391,417 | 6,849,798 |
Centerspace | 57,607 | 5,414,482 |
Chatham Lodging Trust(a) | 196,723 | 2,704,941 |
Community Healthcare Trust, Inc. | 94,731 | 3,950,283 |
DiamondRock Hospitality Co.(a) | 849,610 | 8,113,775 |
Diversified Healthcare Trust | 964,071 | 2,776,524 |
Easterly Government Properties, Inc. | 347,468 | 7,234,284 |
Essential Properties Realty Trust, Inc. | 490,412 | 12,397,615 |
Four Corners Property Trust, Inc. | 312,031 | 8,231,378 |
Franklin Street Properties Corp. | 383,497 | 2,216,613 |
Getty Realty Corp. | 159,129 | 4,384,004 |
Global Net Lease, Inc. | 417,923 | 5,938,686 |
Hersha Hospitality Trust(a) | 133,230 | 1,229,713 |
Independence Realty Trust, Inc. | 421,780 | 10,658,381 |
Industrial Logistics Properties Trust | 263,834 | 5,901,967 |
Innovative Industrial Properties, Inc. | 96,522 | 18,190,536 |
iStar, Inc. | 280,256 | 7,040,031 |
LTC Properties, Inc. | 158,829 | 5,373,185 |
LXP Industrial Trust | 1,140,843 | 17,637,433 |
NexPoint Residential Trust, Inc. | 91,677 | 7,789,795 |
Office Properties Income Trust | 195,343 | 4,893,342 |
Orion Office REIT, Inc.(a) | 218,522 | 3,721,430 |
Retail Opportunity Investments Corp. | 489,807 | 8,894,895 |
RPT Realty | 340,014 | 4,403,181 |
Safehold, Inc. | 57,039 | 3,499,913 |
Saul Centers, Inc. | 52,581 | 2,420,303 |
Service Properties Trust | 665,957 | 5,747,209 |
SITE Centers Corp. | 724,219 | 11,261,605 |
Summit Hotel Properties, Inc.(a) | 429,408 | 4,246,845 |
Tanger Factory Outlet Centers, Inc. | 419,460 | 6,996,593 |
Uniti Group, Inc. | 952,276 | 12,351,020 |
Universal Health Realty Income Trust | 51,710 | 2,953,158 |
Urban Edge Properties | 445,287 | 8,113,129 |
Urstadt Biddle Properties, Inc., Class A | 121,346 | 2,284,945 |
Veris Residential, Inc.(a) | 322,839 | 5,455,979 |
Washington Real Estate Investment Trust | 341,409 | 7,975,314 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Whitestone REIT | 186,228 | 2,193,766 |
Xenia Hotels & Resorts, Inc.(a) | 460,703 | 8,541,434 |
Total | 302,859,745 | |
Real Estate Management & Development 0.6% | ||
Douglas Elliman, Inc.(a) | 263,945 | 1,990,145 |
Marcus & Millichap, Inc.(a) | 100,809 | 5,013,232 |
RE/MAX Holdings, Inc., Class A | 76,204 | 2,258,687 |
Realogy Holdings Corp.(a) | 470,299 | 8,550,036 |
St. Joe Co. (The) | 133,014 | 7,186,746 |
Total | 24,998,846 | |
Total Real Estate | 327,858,591 | |
Utilities 1.9% | ||
Gas Utilities 0.7% | ||
Chesapeake Utilities Corp. | 71,012 | 9,441,045 |
Northwest Natural Holding Co. | 123,960 | 6,447,160 |
South Jersey Industries, Inc. | 453,599 | 15,390,614 |
Total | 31,278,819 | |
Multi-Utilities 0.4% | ||
Avista Corp. | 285,468 | 12,740,437 |
Unitil Corp. | 64,433 | 3,253,222 |
Total | 15,993,659 | |
Water Utilities 0.8% | ||
American States Water Co. | 148,994 | 12,539,335 |
California Water Service Group | 212,213 | 12,081,286 |
Middlesex Water Co. | 70,580 | 7,057,294 |
Total | 31,677,915 | |
Total Utilities | 78,950,393 | |
Total Common Stocks (Cost $2,498,074,154) | 4,047,488,447 | |
Exchange-Traded Equity Funds 1.2% | ||
Shares | Value ($) | |
U.S. Small Cap 1.2% | ||
iShares Core S&P Small-Cap ETF | 447,875 | 48,240,616 |
Total Exchange-Traded Equity Funds (Cost $30,910,919) | 48,240,616 | |
Columbia Small Cap Index Fund | Annual Report 2022 | 17 |
February 28, 2022
Money Market Funds 0.7% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(c),(d) | 28,850,475 | 28,841,820 |
Total Money Market Funds (Cost $28,839,955) | 28,841,820 | |
Total Investments in Securities (Cost: $2,557,825,028) | 4,124,570,883 | |
Other Assets & Liabilities, Net | 517,245 | |
Net Assets | 4,125,088,128 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Russell 2000 Index E-mini | 304 | 03/2022 | USD | 31,076,400 | 579,082 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
56,765,602 | 516,094,480 | (544,020,119) | 1,857 | 28,841,820 | (8,110) | 29,256 | 28,850,475 |
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). |
18 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
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 | 71,701,409 | — | — | 71,701,409 |
Consumer Discretionary | 479,948,955 | — | — | 479,948,955 |
Consumer Staples | 193,634,446 | — | — | 193,634,446 |
Energy | 233,559,296 | — | — | 233,559,296 |
Financials | 766,916,365 | — | — | 766,916,365 |
Health Care | 472,524,540 | — | — | 472,524,540 |
Industrials | 670,656,557 | — | — | 670,656,557 |
Information Technology | 528,118,873 | — | — | 528,118,873 |
Materials | 223,619,022 | — | — | 223,619,022 |
Real Estate | 327,858,591 | — | — | 327,858,591 |
Utilities | 78,950,393 | — | — | 78,950,393 |
Total Common Stocks | 4,047,488,447 | — | — | 4,047,488,447 |
Exchange-Traded Equity Funds | 48,240,616 | — | — | 48,240,616 |
Money Market Funds | 28,841,820 | — | — | 28,841,820 |
Total Investments in Securities | 4,124,570,883 | — | — | 4,124,570,883 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 579,082 | — | — | 579,082 |
Total | 4,125,149,965 | — | — | 4,125,149,965 |
Columbia Small Cap Index Fund | Annual Report 2022 | 19 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $2,528,985,073) | $4,095,729,063 |
Affiliated issuers (cost $28,839,955) | 28,841,820 |
Receivable for: | |
Capital shares sold | 3,464,837 |
Dividends | 1,930,546 |
Variation margin for futures contracts | 90,475 |
Expense reimbursement due from Investment Manager | 384 |
Total assets | 4,130,057,125 |
Liabilities | |
Payable for: | |
Capital shares purchased | 4,544,017 |
Variation margin for futures contracts | 32,257 |
Management services fees | 67,590 |
Distribution and/or service fees | 21,973 |
Compensation of board members | 303,160 |
Total liabilities | 4,968,997 |
Net assets applicable to outstanding capital stock | $4,125,088,128 |
Represented by | |
Paid in capital | 2,485,031,738 |
Total distributable earnings (loss) | 1,640,056,390 |
Total - representing net assets applicable to outstanding capital stock | $4,125,088,128 |
Class A | |
Net assets | $1,070,943,035 |
Shares outstanding | 38,909,422 |
Net asset value per share | $27.52 |
Institutional Class | |
Net assets | $1,763,232,630 |
Shares outstanding | 63,498,573 |
Net asset value per share | $27.77 |
Institutional 2 Class | |
Net assets | $1,199,979,759 |
Shares outstanding | 42,033,053 |
Net asset value per share | $28.55 |
Institutional 3 Class | |
Net assets | $90,932,704 |
Shares outstanding | 3,379,458 |
Net asset value per share | $26.91 |
20 | Columbia Small Cap Index Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $57,605,557 |
Dividends — affiliated issuers | 29,256 |
Foreign taxes withheld | (50,869) |
Total income | 57,583,944 |
Expenses: | |
Management services fees | 8,941,618 |
Distribution and/or service fees | |
Class A | 2,943,484 |
Compensation of board members | 107,091 |
Interest on collateral | 706 |
Other | 284 |
Total expenses | 11,993,183 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (107,374) |
Expense reduction | (1,080) |
Total net expenses | 11,884,729 |
Net investment income | 45,699,215 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 319,150,005 |
Investments — affiliated issuers | (8,110) |
Foreign currency translations | (2) |
Futures contracts | 250,460 |
Net realized gain | 319,392,353 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (182,735,474) |
Investments — affiliated issuers | 1,857 |
Futures contracts | (535,504) |
Net change in unrealized appreciation (depreciation) | (183,269,121) |
Net realized and unrealized gain | 136,123,232 |
Net increase in net assets resulting from operations | $181,822,447 |
Columbia Small Cap Index Fund | Annual Report 2022 | 21 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $45,699,215 | $34,121,939 |
Net realized gain | 319,392,353 | 125,971,897 |
Net change in unrealized appreciation (depreciation) | (183,269,121) | 1,166,052,959 |
Net increase in net assets resulting from operations | 181,822,447 | 1,326,146,795 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (90,877,215) | (32,771,990) |
Institutional Class | (151,339,217) | (53,973,888) |
Institutional 2 Class | (97,402,387) | (25,163,888) |
Institutional 3 Class | (7,395,880) | (2,289,248) |
Total distributions to shareholders | (347,014,699) | (114,199,014) |
Decrease in net assets from capital stock activity | (122,118,941) | (156,601,896) |
Total increase (decrease) in net assets | (287,311,193) | 1,055,345,885 |
Net assets at beginning of year | 4,412,399,321 | 3,357,053,436 |
Net assets at end of year | $4,125,088,128 | $4,412,399,321 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 6,871,306 | 203,973,849 | 8,772,377 | 176,225,195 |
Distributions reinvested | 2,667,184 | 78,041,984 | 1,274,492 | 27,865,631 |
Redemptions | (11,669,698) | (345,770,746) | (19,817,244) | (409,941,679) |
Net decrease | (2,131,208) | (63,754,913) | (9,770,375) | (205,850,853) |
Institutional Class | ||||
Subscriptions | 8,209,632 | 245,235,326 | 14,952,708 | 303,828,228 |
Distributions reinvested | 3,953,756 | 116,597,000 | 1,878,061 | 41,449,814 |
Redemptions | (14,989,733) | (448,800,004) | (28,858,468) | (584,127,079) |
Net decrease | (2,826,345) | (86,967,678) | (12,027,699) | (238,849,037) |
Institutional 2 Class | ||||
Subscriptions | 13,891,385 | 427,539,854 | 27,203,178 | 675,050,843 |
Distributions reinvested | 2,970,935 | 89,977,964 | 968,240 | 22,295,675 |
Redemptions | (16,428,592) | (508,690,062) | (16,980,262) | (376,793,084) |
Net increase | 433,728 | 8,827,756 | 11,191,156 | 320,553,434 |
Institutional 3 Class | ||||
Subscriptions | 1,704,017 | 49,590,547 | 1,465,633 | 31,501,162 |
Distributions reinvested | 193,333 | 5,532,686 | 106,432 | 2,195,288 |
Redemptions | (1,212,485) | (35,347,339) | (3,020,356) | (66,151,890) |
Net increase (decrease) | 684,865 | 19,775,894 | (1,448,291) | (32,455,440) |
Total net decrease | (3,838,960) | (122,118,941) | (12,055,209) | (156,601,896) |
22 | Columbia Small Cap Index Fund | Annual Report 2022 |
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 2/28/2022 | $28.74 | 0.25 | 0.90 | 1.15 | (0.27) | (2.10) | (2.37) |
Year Ended 2/28/2021 | $20.32 | 0.18 | 8.97 | 9.15 | (0.22) | (0.51) | (0.73) |
Year Ended 2/29/2020 | $23.54 | 0.24 | (2.00) | (1.76) | (0.26) | (1.20) | (1.46) |
Year Ended 2/28/2019 | $24.33 | 0.23 | 1.32 | 1.55 | (0.23) | (2.11) | (2.34) |
Year Ended 2/28/2018 | $23.83 | 0.21 | 2.11 | 2.32 | (0.22) | (1.60) | (1.82) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $28.96 | 0.33 | 0.91 | 1.24 | (0.33) | (2.10) | (2.43) |
Year Ended 2/28/2021 | $20.47 | 0.24 | 9.03 | 9.27 | (0.27) | (0.51) | (0.78) |
Year Ended 2/29/2020 | $23.69 | 0.30 | (2.02) | (1.72) | (0.30) | (1.20) | (1.50) |
Year Ended 2/28/2019 | $24.47 | 0.29 | 1.33 | 1.62 | (0.29) | (2.11) | (2.40) |
Year Ended 2/28/2018 | $23.96 | 0.27 | 2.12 | 2.39 | (0.28) | (1.60) | (1.88) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $29.71 | 0.34 | 0.93 | 1.27 | (0.33) | (2.10) | (2.43) |
Year Ended 2/28/2021 | $20.98 | 0.25 | 9.26 | 9.51 | (0.27) | (0.51) | (0.78) |
Year Ended 2/29/2020 | $24.25 | 0.30 | (2.07) | (1.77) | (0.30) | (1.20) | (1.50) |
Year Ended 2/28/2019 | $24.99 | 0.30 | 1.36 | 1.66 | (0.29) | (2.11) | (2.40) |
Year Ended 2/28/2018 | $24.43 | 0.28 | 2.16 | 2.44 | (0.28) | (1.60) | (1.88) |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $28.13 | 0.32 | 0.89 | 1.21 | (0.33) | (2.10) | (2.43) |
Year Ended 2/28/2021 | $19.91 | 0.23 | 8.77 | 9.00 | (0.27) | (0.51) | (0.78) |
Year Ended 2/29/2020 | $23.08 | 0.29 | (1.96) | (1.67) | (0.30) | (1.20) | (1.50) |
Year Ended 2/28/2019 | $23.90 | 0.29 | 1.29 | 1.58 | (0.29) | (2.11) | (2.40) |
Year Ended 2/28/2018(f) | $23.87 | 0.24 | 1.67 | 1.91 | (0.28) | (1.60) | (1.88) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include interfund lending expense which is less than 0.01%. |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
24 | Columbia Small Cap Index Fund | Annual Report 2022 |
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 2/28/2022 | $27.52 | 3.62% | 0.45%(c) | 0.45%(c),(d) | 0.84% | 13% | $1,070,943 |
Year Ended 2/28/2021 | $28.74 | 46.15% | 0.45%(e) | 0.45%(d),(e) | 0.89% | 24% | $1,179,484 |
Year Ended 2/29/2020 | $20.32 | (8.08%) | 0.45%(e) | 0.45%(d),(e) | 1.04% | 17% | $1,032,677 |
Year Ended 2/28/2019 | $23.54 | 6.70% | 0.45% | 0.45%(d) | 0.89% | 22% | $1,440,665 |
Year Ended 2/28/2018 | $24.33 | 9.86% | 0.45% | 0.45%(d) | 0.88% | 16% | $1,488,143 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $27.77 | 3.92% | 0.20%(c) | 0.20%(c),(d) | 1.09% | 13% | $1,763,233 |
Year Ended 2/28/2021 | $28.96 | 46.46% | 0.20%(e) | 0.20%(d),(e) | 1.14% | 24% | $1,920,981 |
Year Ended 2/29/2020 | $20.47 | (7.85%) | 0.20%(e) | 0.20%(d),(e) | 1.29% | 17% | $1,603,859 |
Year Ended 2/28/2019 | $23.69 | 6.99% | 0.20% | 0.20%(d) | 1.14% | 22% | $2,026,925 |
Year Ended 2/28/2018 | $24.47 | 10.11% | 0.20% | 0.20%(d) | 1.12% | 16% | $1,866,835 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $28.55 | 3.92% | 0.20%(c) | 0.20%(c) | 1.09% | 13% | $1,199,980 |
Year Ended 2/28/2021 | $29.71 | 46.48% | 0.20%(e) | 0.20%(e) | 1.12% | 24% | $1,236,122 |
Year Ended 2/29/2020 | $20.98 | (7.87%) | 0.20%(e) | 0.20%(e) | 1.29% | 17% | $638,046 |
Year Ended 2/28/2019 | $24.25 | 7.01% | 0.20% | 0.20% | 1.14% | 22% | $748,749 |
Year Ended 2/28/2018 | $24.99 | 10.12% | 0.20% | 0.20% | 1.12% | 16% | $584,472 |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $26.91 | 3.93% | 0.20%(c) | 0.20%(c) | 1.09% | 13% | $90,933 |
Year Ended 2/28/2021 | $28.13 | 46.41% | 0.20%(e) | 0.20%(e) | 1.16% | 24% | $75,812 |
Year Ended 2/29/2020 | $19.91 | (7.84%) | 0.20%(e) | 0.20%(e) | 1.30% | 17% | $82,471 |
Year Ended 2/28/2019 | $23.08 | 6.99% | 0.20% | 0.20% | 1.16% | 22% | $70,934 |
Year Ended 2/28/2018(f) | $23.90 | 8.14% | 0.21% | 0.20% | 1.01% | 16% | $4,327 |
Columbia Small Cap Index Fund | Annual Report 2022 | 25 |
February 28, 2022
26 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Small Cap Index Fund | Annual Report 2022 | 27 |
February 28, 2022
28 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 579,082* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Equity risk | 250,460 | |||||
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Equity risk | (535,504) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 48,409,101 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2022. |
Columbia Small Cap Index Fund | Annual Report 2022 | 29 |
February 28, 2022
30 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Small Cap Index Fund | Annual Report 2022 | 31 |
February 28, 2022
Fee rate(s) contractual through June 30, 2022 | |
Class A | 0.45% |
Institutional Class | 0.20 |
Institutional 2 Class | 0.20 |
Institutional 3 Class | 0.20 |
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(321,089) | 321,089 | — |
32 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
71,711,256 | 275,303,443 | 347,014,699 | 36,587,589 | 77,611,425 | 114,199,014 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 106,591,157 | — | 1,533,765,305 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
2,591,384,660 | 1,776,719,795 | (242,954,490) | 1,533,765,305 |
Columbia Small Cap Index Fund | Annual Report 2022 | 33 |
February 28, 2022
34 | Columbia Small Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Small Cap Index Fund | Annual Report 2022 | 35 |
February 28, 2022
36 | Columbia Small Cap Index Fund | Annual Report 2022 |
Columbia Small Cap Index Fund | Annual Report 2022 | 37 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
77.10% | 76.17% | 9.69% | $320,374,033 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
38 | Columbia Small Cap Index Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Small Cap Index Fund | Annual Report 2022 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
40 | Columbia Small Cap Index Fund | Annual Report 2022 |
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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
Columbia Small Cap Index Fund | Annual Report 2022 | 41 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | 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. |
42 | Columbia Small Cap Index Fund | Annual Report 2022 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Small Cap Index Fund | Annual Report 2022 | 43 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
44 | Columbia Small Cap Index Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
7 | |
8 | |
13 | |
15 | |
16 | |
18 | |
22 | |
32 | |
33 | |
33 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 05/01/02 | 11.94 | 8.76 | 11.05 |
Including sales charges | 5.50 | 7.48 | 10.40 | ||
Advisor Class* | 11/08/12 | 12.26 | 9.05 | 11.32 | |
Class C | Excluding sales charges | 05/01/02 | 11.10 | 7.95 | 10.23 |
Including sales charges | 10.15 | 7.95 | 10.23 | ||
Institutional Class | 05/01/02 | 12.27 | 9.05 | 11.34 | |
Institutional 2 Class* | 11/08/12 | 12.41 | 9.22 | 11.47 | |
Institutional 3 Class* | 11/08/12 | 12.46 | 9.26 | 11.52 | |
Class R | 01/23/06 | 11.73 | 8.50 | 10.79 | |
Russell 2000 Value Index | 6.63 | 7.97 | 10.66 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Small Cap Value Fund II | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 96.2 |
Money Market Funds | 3.8 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 1.8 |
Consumer Discretionary | 7.4 |
Consumer Staples | 3.3 |
Energy | 8.4 |
Financials | 29.7 |
Health Care | 5.4 |
Industrials | 17.2 |
Information Technology | 5.9 |
Materials | 8.4 |
Real Estate | 7.3 |
Utilities | 5.2 |
Total | 100.0 |
4 | Columbia Small Cap Value Fund II | Annual Report 2022 |
• | The Fund’s outperformance of its benchmark during the period was driven by strong stock selection, most notably within the industrials, energy, consumer staples, materials and financials sectors. |
• | Allocations also contributed to the Fund’s results versus its benchmark, particularly the Fund’s underweight in the health care sector, which delivered the worst returns for the benchmark during the period. |
• | A top contributor to relative performance was the Fund’s position in industrial and construction equipment rental company Herc Holdings Inc. The firm reported strong quarterly earnings during the period and we believe it is actually poised to benefit from supply constraints in areas of the economy, as businesses utilize rentals to expand capacity. The company also announced an initiation of a quarterly dividend. |
• | Other top contributors to performance included two exploration and production names within the energy sector, Ovintiv, Inc. and Matador Resources Co., which saw substantial gains as energy prices rose. Ovintiv also announced their intention to accelerate their debt reduction plans through further divestitures. |
• | Within consumer staples, the Fund’s position in United Natural Foods, Inc. was a notable contributor to outperformance. Shares in the company, which distributes natural and organic foods, climbed toward the end of the period after reporting quarterly results that beat consensus expectations. The company also raised its forward guidance. The beat (exceeded expectations) and raise (raised guidance) was driven by continued strong execution and better gross margins. |
• | Within information technology, the Fund’s position in Synaptics, Inc. was a notable outperformer. Shares in the company, which specializes in human interface semiconductor solutions, rose sharply after reporting quarterly results in November 2021. The report was highlighted by earnings above expectations and a raise of forward guidance. The outperformance of expectations was driven by strong demand and revenue growth, particularly in Synaptics’ internet-of-things business line, and higher gross margins. |
• | The biggest detractor from relative performance was a lack of exposure to video game retailer GameStop. Shares in GameStop skyrocketed early in the period, as retail investors from internet forums such as Reddit piled into the stock, |
Columbia Small Cap Value Fund II | Annual Report 2022 | 5 |
causing an unprecedented short squeeze that led to huge losses for some notable hedge funds. The Fund did not own GameStop, which by the end of the first quarter of 2021 was up over 900% and became one of the largest names in the benchmark. We believe that over the long-term, stock prices will track fundamentals and so we did not invest in GameStop. | |
• | The Fund’s lack of exposure to Avis Budget Group was a detractor within the industrials sector. Shares in the heavily shorted vehicle sharing and rental company rose sharply at the beginning of November 2021, as the company reported strong earnings which triggered an apparent short squeeze in the stock. |
• | Other individual detractors from performance included SkyWest, Inc., a regional airline that primarily provides service through contracts with other major airlines. Shares declined alongside other airline names as market sentiment changed in the second quarter of 2021, with investors rotating out of certain COVID-19 recovery names and back into more growth-oriented areas. |
• | Within information technology, the Fund’s position in solar panel and systems designer and manufacturer SunPower Corp. was a notable detractor. Shares declined early in the period following tremendous performance in 2020 and in the first quarter of 2021 as a result of mandates in certain states requiring that new homes be solar equipped, and due to certain natural disasters and outages, all of which fueled demand for solar panels. Following this run of strong performance, shares declined in the second quarter of 2021, and we exited the position. |
6 | Columbia Small Cap Value Fund II | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,031.50 | 1,018.50 | 6.40 | 6.36 | 1.27 |
Advisor Class | 1,000.00 | 1,000.00 | 1,033.60 | 1,019.74 | 5.14 | 5.11 | 1.02 |
Class C | 1,000.00 | 1,000.00 | 1,027.90 | 1,014.78 | 10.16 | 10.09 | 2.02 |
Institutional Class | 1,000.00 | 1,000.00 | 1,033.60 | 1,019.74 | 5.14 | 5.11 | 1.02 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,034.30 | 1,020.43 | 4.44 | 4.41 | 0.88 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,034.10 | 1,020.68 | 4.19 | 4.16 | 0.83 |
Class R | 1,000.00 | 1,000.00 | 1,030.90 | 1,017.26 | 7.65 | 7.60 | 1.52 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 97.1% | ||
Issuer | Shares | Value ($) |
Communication Services 1.8% | ||
Entertainment 0.4% | ||
AMC Entertainment Holdings, Inc., Class A(a) | 293,700 | 5,539,182 |
Media 1.4% | ||
Nexstar Media Group, Inc., Class A | 124,408 | 23,021,700 |
Total Communication Services | 28,560,882 | |
Consumer Discretionary 7.2% | ||
Auto Components 1.1% | ||
Dana, Inc. | 448,127 | 8,344,125 |
Goodyear Tire & Rubber Co. (The)(a) | 583,807 | 9,043,170 |
Total | 17,387,295 | |
Hotels, Restaurants & Leisure 2.2% | ||
F45 Training Holdings, Inc.(a) | 1,064,578 | 16,373,210 |
International Game Technology PLC | 388,000 | 11,880,560 |
Red Rock Resorts, Inc., Class A | 138,700 | 6,973,836 |
Total | 35,227,606 | |
Household Durables 0.5% | ||
KB Home | 220,700 | 8,521,227 |
Multiline Retail 1.1% | ||
Macy’s, Inc. | 695,086 | 18,016,629 |
Specialty Retail 1.9% | ||
Children’s Place, Inc. (The)(a) | 64,400 | 4,054,624 |
Genesco, Inc.(a) | 145,672 | 9,344,859 |
Petco Health & Wellness Co., Inc.(a) | 977,614 | 17,127,797 |
Total | 30,527,280 | |
Textiles, Apparel & Luxury Goods 0.4% | ||
Rocky Brands, Inc. | 153,997 | 5,935,044 |
Total Consumer Discretionary | 115,615,081 | |
Consumer Staples 3.2% | ||
Food & Staples Retailing 2.8% | ||
BJ’s Wholesale Club Holdings, Inc.(a) | 262,565 | 16,507,462 |
The Chefs’ Warehouse(a) | 289,500 | 9,510,075 |
United Natural Foods, Inc.(a) | 460,944 | 18,543,777 |
Total | 44,561,314 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Personal Products 0.4% | ||
BellRing Brands, Inc., Class A(a) | 270,100 | 6,906,457 |
Total Consumer Staples | 51,467,771 | |
Energy 8.1% | ||
Oil, Gas & Consumable Fuels 8.1% | ||
Antero Resources Corp.(a) | 667,600 | 15,308,068 |
Chesapeake Energy Corp. | 146,200 | 11,293,950 |
Matador Resources Co. | 390,800 | 19,383,680 |
Ovintiv, Inc. | 731,033 | 33,517,863 |
PDC Energy, Inc. | 389,528 | 25,132,346 |
SM Energy Co. | 502,821 | 17,855,174 |
Whiting Petroleum Corp. | 99,800 | 7,370,230 |
Total | 129,861,311 | |
Total Energy | 129,861,311 | |
Financials 28.8% | ||
Banks 15.7% | ||
Ameris Bancorp | 352,358 | 17,441,721 |
Atlantic Union Bankshares Corp. | 482,838 | 19,617,708 |
Bancorp, Inc. (The)(a) | 705,051 | 20,657,994 |
Cathay General Bancorp | 418,746 | 19,693,624 |
Community Bank System, Inc. | 222,707 | 16,244,248 |
Hancock Whitney Corp. | 381,688 | 21,252,388 |
Independent Bank Corp. | 170,159 | 14,635,375 |
Independent Bank Group, Inc. | 222,060 | 17,131,929 |
Pacific Premier Bancorp, Inc. | 346,925 | 13,429,467 |
Popular, Inc. | 236,062 | 21,682,295 |
Renasant Corp. | 346,611 | 12,654,768 |
Sandy Spring Bancorp, Inc. | 449,010 | 21,143,881 |
Triumph Bancorp, Inc.(a) | 153,755 | 15,424,702 |
UMB Financial Corp. | 206,784 | 21,063,018 |
Total | 252,073,118 |
8 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Capital Markets 3.7% | ||
Cowen, Inc., Class A | 335,096 | 9,935,596 |
Focus Financial Partners, Inc., Class A(a) | 348,000 | 17,413,920 |
Houlihan Lokey, Inc., Class A | 174,500 | 17,949,070 |
Stifel Financial Corp. | 196,734 | 14,459,949 |
Total | 59,758,535 | |
Consumer Finance 1.0% | ||
SLM Corp. | 767,051 | 15,110,905 |
Insurance 1.3% | ||
AMERISAFE, Inc. | 187,540 | 8,833,134 |
Argo Group International Holdings Ltd. | 289,121 | 12,192,233 |
Total | 21,025,367 | |
Mortgage Real Estate Investment Trusts (REITS) 2.7% | ||
Blackstone Mortgage Trust, Inc. | 502,329 | 15,964,016 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 376,400 | 17,818,776 |
Starwood Property Trust, Inc. | 385,028 | 9,179,067 |
Total | 42,961,859 | |
Thrifts & Mortgage Finance 4.4% | ||
Axos Financial, Inc.(a) | 425,722 | 23,304,022 |
MGIC Investment Corp. | 1,100,037 | 16,698,562 |
Radian Group, Inc. | 567,500 | 13,563,250 |
WSFS Financial Corp. | 344,975 | 17,535,079 |
Total | 71,100,913 | |
Total Financials | 462,030,697 | |
Health Care 5.3% | ||
Biotechnology 2.3% | ||
Apellis Pharmaceuticals, Inc.(a) | 95,100 | 4,044,603 |
Arcutis Biotherapeutics, Inc.(a) | 152,500 | 2,714,500 |
Arena Pharmaceuticals, Inc.(a) | 129,300 | 12,279,621 |
Atara Biotherapeutics, Inc.(a) | 288,300 | 3,704,655 |
Cytokinetics, Inc.(a) | 116,500 | 4,114,780 |
Iovance Biotherapeutics, Inc.(a) | 231,200 | 3,622,904 |
Myriad Genetics, Inc.(a) | 260,700 | 6,355,866 |
Total | 36,836,929 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care Equipment & Supplies 1.8% | ||
Integer Holdings Corp.(a) | 71,527 | 5,998,970 |
Merit Medical Systems, Inc.(a) | 283,899 | 18,461,952 |
Varex Imaging Corp.(a) | 171,208 | 4,047,357 |
Total | 28,508,279 | |
Health Care Providers & Services 1.2% | ||
Tenet Healthcare Corp.(a) | 218,378 | 18,778,324 |
Total Health Care | 84,123,532 | |
Industrials 16.7% | ||
Aerospace & Defense 1.5% | ||
Moog, Inc., Class A | 170,600 | 14,178,566 |
Triumph Group, Inc.(a) | 406,600 | 10,181,264 |
Total | 24,359,830 | |
Air Freight & Logistics 0.5% | ||
Atlas Air Worldwide Holdings, Inc.(a) | 106,226 | 8,323,869 |
Building Products 0.6% | ||
Masonite International Corp.(a) | 98,279 | 9,270,658 |
Construction & Engineering 2.4% | ||
API Group Corp.(a) | 616,700 | 13,302,219 |
EMCOR Group, Inc. | 143,166 | 16,541,400 |
MasTec, Inc.(a) | 103,381 | 8,142,287 |
Total | 37,985,906 | |
Electrical Equipment 0.9% | ||
Bloom Energy Corp., Class A(a) | 392,100 | 8,704,620 |
Sunrun, Inc.(a) | 226,300 | 6,173,464 |
Total | 14,878,084 | |
Machinery 1.4% | ||
Altra Industrial Motion Corp. | 255,340 | 10,844,290 |
Evoqua Water Technologies Corp.(a) | 288,900 | 12,324,474 |
Total | 23,168,764 | |
Professional Services 4.2% | ||
ICF International, Inc. | 172,400 | 15,278,088 |
KBR, Inc. | 447,238 | 22,200,895 |
Kforce, Inc. | 276,756 | 20,806,516 |
Science Applications International Corp. | 103,258 | 9,054,694 |
Total | 67,340,193 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 9 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Road & Rail 1.1% | ||
ArcBest Corp. | 184,306 | 17,081,480 |
Trading Companies & Distributors 4.1% | ||
Beacon Roofing Supply, Inc.(a) | 195,830 | 11,689,093 |
Core & Main, Inc., Class A(a) | 608,900 | 13,688,072 |
Herc Holdings Inc | 115,761 | 18,419,890 |
Triton International Ltd. | 324,914 | 21,340,352 |
Total | 65,137,407 | |
Total Industrials | 267,546,191 | |
Information Technology 5.7% | ||
IT Services 0.9% | ||
ExlService Holdings, Inc.(a) | 121,600 | 14,688,064 |
Semiconductors & Semiconductor Equipment 4.6% | ||
Diodes, Inc.(a) | 177,386 | 15,892,012 |
Kulicke & Soffa Industries, Inc. | 129,254 | 6,752,229 |
MagnaChip Semiconductor Corp.(a) | 889,471 | 16,188,372 |
SMART Global Holdings, Inc.(a) | 645,138 | 17,709,038 |
Synaptics, Inc.(a) | 30,100 | 6,875,743 |
Ultra Clean Holdings, Inc.(a) | 244,761 | 11,212,501 |
Total | 74,629,895 | |
Software 0.2% | ||
Marathon Digital Holdings, Inc.(a) | 110,000 | 2,788,500 |
Total Information Technology | 92,106,459 | |
Materials 8.1% | ||
Chemicals 4.8% | ||
Ashland Global Holdings, Inc. | 97,000 | 8,951,160 |
Avient Corp. | 276,630 | 14,492,646 |
Cabot Corp. | 156,587 | 11,455,905 |
HB Fuller Co. | 102,600 | 7,014,762 |
Intrepid Potash, Inc.(a) | 274,622 | 15,623,246 |
Kraton Performance Polymers, Inc.(a) | 274,500 | 12,668,175 |
Orion Engineered Carbons SA | 424,032 | 6,589,457 |
Total | 76,795,351 | |
Construction Materials 0.9% | ||
Summit Materials, Inc., Class A(a) | 470,600 | 14,692,132 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Metals & Mining 2.4% | ||
Allegheny Technologies, Inc.(a) | 375,500 | 9,665,370 |
Arconic Corp.(a) | 191,400 | 5,875,980 |
Cleveland-Cliffs, Inc.(a) | 401,900 | 8,986,484 |
Materion Corp. | 173,620 | 14,505,951 |
Total | 39,033,785 | |
Total Materials | 130,521,268 | |
Real Estate 7.1% | ||
Equity Real Estate Investment Trusts (REITS) 7.1% | ||
American Assets Trust, Inc. | 409,900 | 14,985,944 |
Apple Hospitality REIT, Inc. | 493,700 | 8,733,553 |
Centerspace | 204,137 | 19,186,837 |
First Industrial Realty Trust, Inc. | 395,261 | 22,759,128 |
Hudson Pacific Properties, Inc. | 233,305 | 6,159,252 |
PotlatchDeltic Corp. | 174,200 | 9,563,580 |
PS Business Parks, Inc. | 88,069 | 14,028,511 |
Tanger Factory Outlet Centers, Inc. | 1,097,969 | 18,314,123 |
Total | 113,730,928 | |
Total Real Estate | 113,730,928 | |
Utilities 5.1% | ||
Electric Utilities 1.2% | ||
Portland General Electric Co. | 369,207 | 18,744,639 |
Gas Utilities 2.9% | ||
New Jersey Resources Corp. | 312,837 | 13,645,950 |
ONE Gas, Inc. | 165,377 | 13,741,175 |
South Jersey Industries, Inc. | 550,657 | 18,683,792 |
Total | 46,070,917 | |
Independent Power and Renewable Electricity Producers 1.0% | ||
Clearway Energy, Inc., Class C | 489,180 | 16,338,612 |
Total Utilities | 81,154,168 | |
Total Common Stocks (Cost $1,038,042,111) | 1,556,718,288 | |
10 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Money Market Funds 3.9% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(b),(c) | 61,974,365 | 61,955,773 |
Total Money Market Funds (Cost $61,956,536) | 61,955,773 | |
Total Investments in Securities (Cost: $1,099,998,647) | 1,618,674,061 | |
Other Assets & Liabilities, Net | (15,662,138) | |
Net Assets | 1,603,011,923 |
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
27,419,887 | 488,728,973 | (454,190,501) | (2,586) | 61,955,773 | (7,019) | 28,275 | 61,974,365 |
■ | 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 Small Cap Value Fund II | Annual Report 2022 | 11 |
February 28, 2022
additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 28,560,882 | — | — | 28,560,882 |
Consumer Discretionary | 115,615,081 | — | — | 115,615,081 |
Consumer Staples | 51,467,771 | — | — | 51,467,771 |
Energy | 129,861,311 | — | — | 129,861,311 |
Financials | 462,030,697 | — | — | 462,030,697 |
Health Care | 84,123,532 | — | — | 84,123,532 |
Industrials | 267,546,191 | — | — | 267,546,191 |
Information Technology | 92,106,459 | — | — | 92,106,459 |
Materials | 130,521,268 | — | — | 130,521,268 |
Real Estate | 113,730,928 | — | — | 113,730,928 |
Utilities | 81,154,168 | — | — | 81,154,168 |
Total Common Stocks | 1,556,718,288 | — | — | 1,556,718,288 |
Money Market Funds | 61,955,773 | — | — | 61,955,773 |
Total Investments in Securities | 1,618,674,061 | — | — | 1,618,674,061 |
12 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,038,042,111) | $1,556,718,288 |
Affiliated issuers (cost $61,956,536) | 61,955,773 |
Receivable for: | |
Investments sold | 4,193,360 |
Capital shares sold | 2,884,904 |
Dividends | 1,009,517 |
Expense reimbursement due from Investment Manager | 8,170 |
Prepaid expenses | 13,581 |
Total assets | 1,626,783,593 |
Liabilities | |
Payable for: | |
Investments purchased | 20,927,346 |
Capital shares purchased | 2,254,587 |
Management services fees | 105,522 |
Distribution and/or service fees | 2,129 |
Transfer agent fees | 219,367 |
Compensation of board members | 178,458 |
Compensation of chief compliance officer | 240 |
Other expenses | 84,021 |
Total liabilities | 23,771,670 |
Net assets applicable to outstanding capital stock | $1,603,011,923 |
Represented by | |
Paid in capital | 1,059,649,213 |
Total distributable earnings (loss) | 543,362,710 |
Total - representing net assets applicable to outstanding capital stock | $1,603,011,923 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 13 |
February 28, 2022
Class A | |
Net assets | $91,223,401 |
Shares outstanding | 4,935,082 |
Net asset value per share | $18.48 |
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) | $19.61 |
Advisor Class | |
Net assets | $178,598,653 |
Shares outstanding | 9,179,553 |
Net asset value per share | $19.46 |
Class C | |
Net assets | $1,470,168 |
Shares outstanding | 96,714 |
Net asset value per share | $15.20 |
Institutional Class | |
Net assets | $425,250,229 |
Shares outstanding | 22,503,436 |
Net asset value per share | $18.90 |
Institutional 2 Class | |
Net assets | $223,545,221 |
Shares outstanding | 11,447,512 |
Net asset value per share | $19.53 |
Institutional 3 Class | |
Net assets | $679,291,485 |
Shares outstanding | 34,640,426 |
Net asset value per share | $19.61 |
Class R | |
Net assets | $3,632,766 |
Shares outstanding | 201,749 |
Net asset value per share | $18.01 |
14 | Columbia Small Cap Value Fund II | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $17,837,481 |
Dividends — affiliated issuers | 28,275 |
Interfund lending | 320 |
Foreign taxes withheld | (39,193) |
Total income | 17,826,883 |
Expenses: | |
Management services fees | 12,213,435 |
Distribution and/or service fees | |
Class A | 208,858 |
Class C | 10,166 |
Class R | 19,183 |
Transfer agent fees | |
Class A | 201,783 |
Advisor Class | 304,357 |
Class C | 2,465 |
Institutional Class | 953,351 |
Institutional 2 Class | 125,836 |
Institutional 3 Class | 41,159 |
Class R | 9,252 |
Compensation of board members | 55,515 |
Custodian fees | 16,798 |
Printing and postage fees | 151,358 |
Registration fees | 113,997 |
Audit fees | 32,250 |
Legal fees | 27,478 |
Compensation of chief compliance officer | 232 |
Other | 27,385 |
Total expenses | 14,514,858 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (588,235) |
Fees waived by transfer agent | |
Institutional 2 Class | (4,888) |
Institutional 3 Class | (13,071) |
Expense reduction | (40) |
Total net expenses | 13,908,624 |
Net investment income | 3,918,259 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 180,516,558 |
Investments — affiliated issuers | (7,019) |
Net realized gain | 180,509,539 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (17,516,121) |
Investments — affiliated issuers | (2,586) |
Net change in unrealized appreciation (depreciation) | (17,518,707) |
Net realized and unrealized gain | 162,990,832 |
Net increase in net assets resulting from operations | $166,909,091 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 15 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $3,918,259 | $6,011,880 |
Net realized gain | 180,509,539 | 59,415,095 |
Net change in unrealized appreciation (depreciation) | (17,518,707) | 411,887,744 |
Net increase in net assets resulting from operations | 166,909,091 | 477,314,719 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (11,132,679) | (611,308) |
Advisor Class | (15,473,174) | (797,326) |
Class C | (172,699) | (1,335) |
Institutional Class | (54,172,778) | (2,814,817) |
Institutional 2 Class | (27,431,969) | (1,788,519) |
Institutional 3 Class | (86,013,104) | (4,907,822) |
Class R | (505,702) | (30,100) |
Total distributions to shareholders | (194,902,105) | (10,951,227) |
Increase (decrease) in net assets from capital stock activity | 295,265,372 | (180,292,967) |
Total increase in net assets | 267,272,358 | 286,070,525 |
Net assets at beginning of year | 1,335,739,565 | 1,049,669,040 |
Net assets at end of year | $1,603,011,923 | $1,335,739,565 |
16 | Columbia Small Cap Value Fund II | Annual Report 2022 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,904,995 | 37,448,934 | 1,542,111 | 20,637,627 |
Fund reorganization | 102,798 | 1,822,064 | — | — |
Distributions reinvested | 515,548 | 10,020,650 | 44,644 | 568,733 |
Redemptions | (1,280,388) | (25,009,568) | (5,603,739) | (71,864,547) |
Net increase (decrease) | 1,242,953 | 24,282,080 | (4,016,984) | (50,658,187) |
Advisor Class | ||||
Subscriptions | 3,499,219 | 71,418,698 | 4,567,722 | 63,325,960 |
Fund reorganization | 4,247,560 | 79,222,767 | — | — |
Distributions reinvested | 669,131 | 13,759,766 | 48,602 | 728,394 |
Redemptions | (6,142,833) | (124,064,664) | (1,975,419) | (27,842,556) |
Net increase | 2,273,077 | 40,336,567 | 2,640,905 | 36,211,798 |
Class C | ||||
Subscriptions | 70,460 | 1,155,402 | 23,372 | 297,882 |
Distributions reinvested | 10,663 | 171,009 | 128 | 1,281 |
Redemptions | (20,474) | (333,741) | (16,037) | (176,734) |
Net increase | 60,649 | 992,670 | 7,463 | 122,429 |
Institutional Class | ||||
Subscriptions | 8,709,443 | 176,726,803 | 4,414,975 | 61,003,074 |
Distributions reinvested | 2,485,306 | 49,323,735 | 192,427 | 2,638,133 |
Redemptions | (6,068,437) | (120,323,290) | (13,945,774) | (197,508,697) |
Net increase (decrease) | 5,126,312 | 105,727,248 | (9,338,372) | (133,867,490) |
Institutional 2 Class | ||||
Subscriptions | 4,554,026 | 92,890,951 | 5,415,563 | 70,493,668 |
Distributions reinvested | 1,337,272 | 27,417,036 | 121,929 | 1,786,594 |
Redemptions | (5,903,551) | (123,227,966) | (4,776,859) | (67,521,473) |
Net increase (decrease) | (12,253) | (2,919,979) | 760,633 | 4,758,789 |
Institutional 3 Class | ||||
Subscriptions | 12,888,406 | 267,021,479 | 12,937,492 | 169,180,965 |
Fund reorganization | 50,335 | 946,037 | — | — |
Distributions reinvested | 3,709,447 | 76,346,220 | 304,761 | 4,492,929 |
Redemptions | (10,429,093) | (215,750,681) | (13,863,637) | (209,465,693) |
Net increase (decrease) | 6,219,095 | 128,563,055 | (621,384) | (35,791,799) |
Class R | ||||
Subscriptions | 43,521 | 857,511 | 77,790 | 1,012,994 |
Distributions reinvested | 26,625 | 505,702 | 2,426 | 30,099 |
Redemptions | (161,147) | (3,079,482) | (167,432) | (2,111,600) |
Net decrease | (91,001) | (1,716,269) | (87,216) | (1,068,507) |
Total net increase (decrease) | 14,818,832 | 295,265,372 | (10,654,955) | (180,292,967) |
Columbia Small Cap Value Fund II | Annual Report 2022 | 17 |
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 2/28/2022 | $18.85 | (0.02) | 2.33 | 2.31 | (0.03) | (2.65) | (2.68) |
Year Ended 2/28/2021 | $12.89 | 0.03 | 6.04 | 6.07 | (0.05) | (0.06) | (0.11) |
Year Ended 2/29/2020 | $15.11 | 0.06 | (1.76) | (1.70) | (0.09) | (0.43) | (0.52) |
Year Ended 2/28/2019 | $17.11 | 0.03 | (0.10) | (0.07) | (0.01) | (1.92) | (1.93) |
Year Ended 2/28/2018 | $18.01 | 0.01 | 0.75 | 0.76 | (0.01) | (1.65) | (1.66) |
Advisor Class | |||||||
Year Ended 2/28/2022 | $19.71 | 0.03 | 2.45 | 2.48 | (0.08) | (2.65) | (2.73) |
Year Ended 2/28/2021 | $13.46 | 0.06 | 6.33 | 6.39 | (0.08) | (0.06) | (0.14) |
Year Ended 2/29/2020 | $15.75 | 0.10 | (1.83) | (1.73) | (0.13) | (0.43) | (0.56) |
Year Ended 2/28/2019 | $17.75 | 0.07 | (0.11) | (0.04) | (0.04) | (1.92) | (1.96) |
Year Ended 2/28/2018 | $18.61 | 0.05 | 0.79 | 0.84 | (0.05) | (1.65) | (1.70) |
Class C | |||||||
Year Ended 2/28/2022 | $16.01 | (0.13) | 1.97 | 1.84 | — | (2.65) | (2.65) |
Year Ended 2/28/2021 | $11.00 | (0.06) | 5.13 | 5.07 | — | (0.06) | (0.06) |
Year Ended 2/29/2020 | $12.96 | (0.04) | (1.51) | (1.55) | — | (0.41) | (0.41) |
Year Ended 2/28/2019 | $15.06 | (0.11) | (0.07) | (0.18) | — | (1.92) | (1.92) |
Year Ended 2/28/2018 | $16.13 | (0.11) | 0.68 | 0.57 | — | (1.64) | (1.64) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $19.21 | 0.04 | 2.38 | 2.42 | (0.08) | (2.65) | (2.73) |
Year Ended 2/28/2021 | $13.12 | 0.07 | 6.16 | 6.23 | (0.08) | (0.06) | (0.14) |
Year Ended 2/29/2020 | $15.37 | 0.10 | (1.79) | (1.69) | (0.13) | (0.43) | (0.56) |
Year Ended 2/28/2019 | $17.37 | 0.07 | (0.11) | (0.04) | (0.04) | (1.92) | (1.96) |
Year Ended 2/28/2018 | $18.25 | 0.05 | 0.77 | 0.82 | (0.05) | (1.65) | (1.70) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $19.77 | 0.06 | 2.45 | 2.51 | (0.10) | (2.65) | (2.75) |
Year Ended 2/28/2021 | $13.48 | 0.09 | 6.35 | 6.44 | (0.09) | (0.06) | (0.15) |
Year Ended 2/29/2020 | $15.78 | 0.12 | (1.84) | (1.72) | (0.15) | (0.43) | (0.58) |
Year Ended 2/28/2019 | $17.78 | 0.10 | (0.11) | (0.01) | (0.07) | (1.92) | (1.99) |
Year Ended 2/28/2018 | $18.63 | 0.08 | 0.79 | 0.87 | (0.07) | (1.65) | (1.72) |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $19.84 | 0.08 | 2.45 | 2.53 | (0.11) | (2.65) | (2.76) |
Year Ended 2/28/2021 | $13.53 | 0.09 | 6.38 | 6.47 | (0.10) | (0.06) | (0.16) |
Year Ended 2/29/2020 | $15.84 | 0.13 | (1.85) | (1.72) | (0.16) | (0.43) | (0.59) |
Year Ended 2/28/2019 | $17.84 | 0.11 | (0.12) | (0.01) | (0.07) | (1.92) | (1.99) |
Year Ended 2/28/2018 | $18.68 | 0.09 | 0.80 | 0.89 | (0.08) | (1.65) | (1.73) |
18 | Columbia Small Cap Value Fund II | Annual Report 2022 |
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 2/28/2022 | $18.48 | 11.94% | 1.34% | 1.28%(c) | (0.08%) | 50% | $91,223 |
Year Ended 2/28/2021 | $18.85 | 47.45% | 1.37% | 1.29%(c) | 0.27% | 55% | $69,591 |
Year Ended 2/29/2020 | $12.89 | (11.58%) | 1.36% | 1.28%(c) | 0.40% | 27% | $99,356 |
Year Ended 2/28/2019 | $15.11 | (0.15%) | 1.35% | 1.27%(c) | 0.17% | 38% | $144,155 |
Year Ended 2/28/2018 | $17.11 | 4.45% | 1.33% | 1.29%(c) | 0.04% | 45% | $165,419 |
Advisor Class | |||||||
Year Ended 2/28/2022 | $19.46 | 12.26% | 1.09% | 1.03%(c) | 0.15% | 50% | $178,599 |
Year Ended 2/28/2021 | $19.71 | 47.83% | 1.12% | 1.05%(c) | 0.44% | 55% | $136,110 |
Year Ended 2/29/2020 | $13.46 | (11.34%) | 1.11% | 1.03%(c) | 0.64% | 27% | $57,400 |
Year Ended 2/28/2019 | $15.75 | 0.09% | 1.10% | 1.02%(c) | 0.42% | 38% | $85,978 |
Year Ended 2/28/2018 | $17.75 | 4.73% | 1.08% | 1.04%(c) | 0.30% | 45% | $71,415 |
Class C | |||||||
Year Ended 2/28/2022 | $15.20 | 11.10% | 2.09% | 2.03%(c) | (0.81%) | 50% | $1,470 |
Year Ended 2/28/2021 | $16.01 | 46.38% | 2.12% | 2.05%(c) | (0.55%) | 55% | $577 |
Year Ended 2/29/2020 | $11.00 | (12.27%) | 2.11% | 2.03%(c) | (0.33%) | 27% | $315 |
Year Ended 2/28/2019 | $12.96 | (0.93%) | 2.09% | 2.02%(c) | (0.71%) | 38% | $611 |
Year Ended 2/28/2018 | $15.06 | 3.72% | 2.07% | 2.04%(c) | (0.72%) | 45% | $7,785 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $18.90 | 12.27% | 1.09% | 1.03%(c) | 0.18% | 50% | $425,250 |
Year Ended 2/28/2021 | $19.21 | 47.85% | 1.12% | 1.04%(c) | 0.51% | 55% | $333,786 |
Year Ended 2/29/2020 | $13.12 | (11.36%) | 1.11% | 1.03%(c) | 0.66% | 27% | $350,469 |
Year Ended 2/28/2019 | $15.37 | 0.09% | 1.10% | 1.02%(c) | 0.42% | 38% | $545,568 |
Year Ended 2/28/2018 | $17.37 | 4.71% | 1.07% | 1.04%(c) | 0.28% | 45% | $727,418 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $19.53 | 12.41% | 0.91% | 0.88% | 0.30% | 50% | $223,545 |
Year Ended 2/28/2021 | $19.77 | 48.19% | 0.94% | 0.90% | 0.62% | 55% | $226,504 |
Year Ended 2/29/2020 | $13.48 | (11.26%) | 0.92% | 0.89% | 0.79% | 27% | $144,260 |
Year Ended 2/28/2019 | $15.78 | 0.22% | 0.91% | 0.88% | 0.60% | 38% | $118,654 |
Year Ended 2/28/2018 | $17.78 | 4.90% | 0.90% | 0.89% | 0.44% | 45% | $78,479 |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $19.61 | 12.46% | 0.86% | 0.83% | 0.37% | 50% | $679,291 |
Year Ended 2/28/2021 | $19.84 | 48.20% | 0.89% | 0.85% | 0.67% | 55% | $563,772 |
Year Ended 2/29/2020 | $13.53 | (11.23%) | 0.87% | 0.84% | 0.84% | 27% | $393,074 |
Year Ended 2/28/2019 | $15.84 | 0.27% | 0.85% | 0.83% | 0.62% | 38% | $487,282 |
Year Ended 2/28/2018 | $17.84 | 4.98% | 0.86% | 0.84% | 0.52% | 45% | $478,580 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 19 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R | |||||||
Year Ended 2/28/2022 | $18.44 | (0.07) | 2.29 | 2.22 | — | (2.65) | (2.65) |
Year Ended 2/28/2021 | $12.62 | (0.00)(d) | 5.91 | 5.91 | (0.03) | (0.06) | (0.09) |
Year Ended 2/29/2020 | $14.80 | 0.02 | (1.71) | (1.69) | (0.06) | (0.43) | (0.49) |
Year Ended 2/28/2019 | $16.84 | (0.01) | (0.11) | (0.12) | — | (1.92) | (1.92) |
Year Ended 2/28/2018 | $17.77 | (0.04) | 0.75 | 0.71 | — | (1.64) | (1.64) |
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) | Rounds to zero. |
20 | Columbia Small Cap Value Fund II | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class R | |||||||
Year Ended 2/28/2022 | $18.01 | 11.73% | 1.59% | 1.53%(c) | (0.34%) | 50% | $3,633 |
Year Ended 2/28/2021 | $18.44 | 47.11% | 1.62% | 1.55%(c) | (0.00%)(d) | 55% | $5,399 |
Year Ended 2/29/2020 | $12.62 | (11.79%) | 1.61% | 1.53%(c) | 0.15% | 27% | $4,796 |
Year Ended 2/28/2019 | $14.80 | (0.46%) | 1.60% | 1.52%(c) | (0.08%) | 38% | $6,104 |
Year Ended 2/28/2018 | $16.84 | 4.19% | 1.58% | 1.54%(c) | (0.21%) | 45% | $8,302 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 21 |
February 28, 2022
22 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Columbia Small Cap Value Fund II | Annual Report 2022 | 23 |
February 28, 2022
24 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Effective rate (%) | |
Class A | 0.24 |
Advisor Class | 0.24 |
Class C | 0.24 |
Institutional Class | 0.24 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Class R | 0.24 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 25 |
February 28, 2022
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 134,663 |
Class C | — | 1.00(b) | 65 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
July 1, 2021 through June 30, 2024 | Prior to July 1, 2021 | |
Class A | 1.27% | 1.29% |
Advisor Class | 1.02 | 1.04 |
Class C | 2.02 | 2.04 |
Institutional Class | 1.02 | 1.04 |
Institutional 2 Class | 0.88 | 0.89 |
Institutional 3 Class | 0.83 | 0.84 |
Class R | 1.52 | 1.54 |
26 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
2,018,774 | (19,331,881) | 17,313,107 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
53,913,346 | 140,988,759 | 194,902,105 | 6,300,189 | 4,651,038 | 10,951,227 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 39,516,263 | — | 514,836,535 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,103,837,526 | 547,198,914 | (32,362,379) | 514,836,535 |
Late year ordinary losses ($) | Post-October capital losses ($) |
373,541 | 10,440,056 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 27 |
February 28, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 1,700,000 | 0.64 | 11 |
28 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Shares | |
Class A | 102,798 |
Advisor Class | 4,247,560 |
Institutional 3 Class | 50,335 |
($) | |
Net investment income | 4,488,000 |
Net realized gain | 206,826,000 |
Net change in unrealized appreciation/(depreciation) | (31,844,000) |
Net increase in net assets from operations | 179,470,000 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 29 |
February 28, 2022
30 | Columbia Small Cap Value Fund II | Annual Report 2022 |
February 28, 2022
Columbia Small Cap Value Fund II | Annual Report 2022 | 31 |
32 | Columbia Small Cap Value Fund II | Annual Report 2022 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
43.75% | 42.71% | 4.15% | $170,531,519 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Small Cap Value Fund II | Annual Report 2022 | 33 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
34 | Columbia Small Cap Value Fund II | Annual Report 2022 |
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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
Columbia Small Cap Value Fund II | Annual Report 2022 | 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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
36 | Columbia Small Cap Value Fund II | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Columbia Small Cap Value Fund II | Annual Report 2022 | 37 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
38 | Columbia Small Cap Value Fund II | Annual Report 2022 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
Columbia Small Cap Value Fund II | Annual Report 2022 | 39 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
6 | |
7 | |
13 | |
15 | |
16 | |
18 | |
22 | |
37 | |
38 | |
38 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A* | Excluding sales charges | 02/28/13 | 4.65 | 6.63 | 6.07 |
Including sales charges | -1.37 | 5.37 | 5.45 | ||
Advisor Class* | 07/01/15 | 4.93 | 6.90 | 6.36 | |
Class C* | Excluding sales charges | 02/28/13 | 3.88 | 5.84 | 5.27 |
Including sales charges | 2.88 | 5.84 | 5.27 | ||
Institutional Class | 03/31/08 | 4.91 | 6.89 | 6.36 | |
Institutional 2 Class* | 07/01/15 | 5.02 | 7.02 | 6.44 | |
Institutional 3 Class* | 07/01/15 | 5.07 | 7.05 | 6.48 | |
Class R* | 03/01/16 | 4.40 | 6.36 | 5.84 | |
MSCI EAFE Value Index (Net) | 6.33 | 4.62 | 4.68 |
* | 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 Overseas Value Fund | Annual Report 2022 | 3 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 9.6 |
Consumer Discretionary | 5.6 |
Consumer Staples | 10.5 |
Energy | 11.9 |
Financials | 23.5 |
Health Care | 9.7 |
Industrials | 11.7 |
Information Technology | 4.6 |
Materials | 8.5 |
Real Estate | 1.1 |
Utilities | 3.3 |
Total | 100.0 |
Country breakdown (%) (at February 28, 2022) | |
Australia | 0.1 |
Austria | 0.4 |
Brazil | 0.5 |
Canada | 7.6 |
China | 0.5 |
Finland | 1.8 |
France | 12.5 |
Germany | 6.5 |
Greece | 0.6 |
Hong Kong | 1.6 |
Ireland | 1.5 |
Country breakdown (%) (at February 28, 2022) | |
Israel | 0.9 |
Japan | 18.6 |
Netherlands | 6.1 |
Norway | 1.2 |
Pakistan | 0.1 |
Russian Federation | 0.1 |
Singapore | 2.2 |
South Africa | 0.7 |
South Korea | 1.4 |
Spain | 3.4 |
Sweden | 0.8 |
Switzerland | 2.0 |
Taiwan | 1.5 |
United Kingdom | 19.9 |
United States(a) | 7.5 |
Total | 100.0 |
(a) | Includes investments in Money Market Funds and Exchange-Traded Funds. |
4 | Columbia Overseas Value Fund | Annual Report 2022 |
• | The Fund’s underperformance of its benchmark during the period was caused primarily by adverse stock selection, particularly within the United Kingdom, as well as the health care, information technology and consumer discretionary sectors. |
• | Individual holdings that lagged in absolute and relative terms included TP Icap Group PLC (U.K.), Atos (France), Stillfront Group AB (Sweden), Covestro AG (Germany) and Ship Healthcare Holdings, Inc. (Japan). |
• | From a geographical perspective, the Fund’s out-of-benchmark allocations to Korea and Russia hurt relative performance, as did stock selection within the United Kingdom and France. |
• | Relative to its benchmark, the Fund’s overweight positions in Canada, Taiwan and the energy sector helped results. |
• | Individual top performers included Fubon Financial Holding Co., Ltd. (Taiwan), Teck Resources Ltd. (Canada), Alimentation Couche-Tard, Inc. (Canada), Bank Hapoalim BM (Israel) and Cameco Corp. (Canada). The Fund’s position in Bank Hapoalim BM was sold. |
Columbia Overseas Value Fund | Annual Report 2022 | 5 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 966.80 | 1,019.09 | 5.61 | 5.76 | 1.15 |
Advisor Class | 1,000.00 | 1,000.00 | 967.90 | 1,020.33 | 4.39 | 4.51 | 0.90 |
Class C | 1,000.00 | 1,000.00 | 962.90 | 1,015.37 | 9.25 | 9.49 | 1.90 |
Institutional Class | 1,000.00 | 1,000.00 | 968.10 | 1,020.33 | 4.39 | 4.51 | 0.90 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 968.60 | 1,020.73 | 4.00 | 4.11 | 0.82 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 969.00 | 1,020.98 | 3.76 | 3.86 | 0.77 |
Class R | 1,000.00 | 1,000.00 | 965.60 | 1,017.85 | 6.82 | 7.00 | 1.40 |
6 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Common Stocks 97.1% | ||
Issuer | Shares | Value ($) |
Australia 0.1% | ||
Ansell Ltd. | 152,711 | 2,861,464 |
Austria 0.4% | ||
Andritz AG | 255,413 | 11,449,961 |
Brazil 0.5% | ||
Azul SA, ADR(a) | 983,877 | 14,374,443 |
Canada 7.6% | ||
Alimentation Couche-Tard, Inc. | 1,460,305 | 57,317,691 |
Cameco Corp.(b) | 1,445,023 | 35,518,665 |
Teck Resources Ltd., Class B(b) | 956,253 | 34,377,296 |
Teekay Tankers Ltd., Class A(a) | 1,171,856 | 16,745,822 |
West Fraser Timber Co., Ltd. | 295,719 | 29,518,239 |
Yamana Gold, Inc. | 7,040,933 | 34,500,572 |
Total | 207,978,285 | |
China 0.5% | ||
Guangdong Investment Ltd. | 10,360,000 | 13,941,403 |
Finland 1.8% | ||
UPM-Kymmene OYJ | 1,445,024 | 49,930,239 |
France 12.5% | ||
AtoS | 548,832 | 19,499,133 |
AXA SA | 2,606,643 | 70,529,583 |
BNP Paribas SA | 1,213,603 | 70,418,808 |
DBV Technologies SA, ADR(a) | 335,217 | 449,191 |
Eiffage SA | 335,314 | 34,156,432 |
Sanofi | 577,105 | 60,326,283 |
TotalEnergies SE | 1,700,367 | 86,625,638 |
Total | 342,005,068 | |
Germany 6.5% | ||
Aroundtown SA | 2,113,555 | 13,032,484 |
Bayer AG, Registered Shares | 296,250 | 17,112,286 |
Covestro AG | 634,339 | 33,547,484 |
Daimler Truck Holding AG(a) | 199,431 | 6,077,774 |
Duerr AG | 744,178 | 26,800,759 |
E.ON SE | 3,179,620 | 43,247,763 |
KION Group AG | 307,908 | 24,683,839 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Mercedes-Benz Group AG, Registered Shares | 171,938 | 13,431,720 |
Total | 177,934,109 | |
Greece 0.6% | ||
Piraeus Financial Holdings SA(a) | 10,680,950 | 16,915,990 |
Hong Kong 1.6% | ||
WH Group Ltd. | 60,810,830 | 42,468,831 |
Ireland 1.5% | ||
Amarin Corp. PLC, ADR(a) | 311,700 | 1,031,727 |
Bank of Ireland Group PLC(a) | 2,923,836 | 19,400,394 |
Flutter Entertainment PLC(a) | 139,938 | 20,152,212 |
Total | 40,584,333 | |
Israel 0.9% | ||
Bezeq Israeli Telecommunication Corp., Ltd.(a) | 15,012,482 | 24,646,930 |
Japan 18.6% | ||
Dai-ichi Life Holdings, Inc. | 1,344,300 | 27,918,614 |
Daiwabo Holdings Co., Ltd. | 2,115,900 | 32,752,806 |
Invincible Investment Corp. | 24,212 | 8,303,002 |
ITOCHU Corp. | 1,992,300 | 64,926,280 |
Kinden Corp. | 1,252,300 | 17,760,896 |
Koito Manufacturing Co., Ltd. | 467,000 | 24,154,590 |
MatsukiyoCocokara & Co. | 1,194,800 | 46,062,159 |
Nippon Telegraph & Telephone Corp. | 1,151,300 | 33,089,388 |
ORIX Corp. | 3,138,300 | 62,210,942 |
Ship Healthcare Holdings, Inc. | 1,255,800 | 24,997,345 |
Simplex Holdings, Inc.(a) | 233,700 | 3,355,107 |
SoftBank Group Corp. | 317,900 | 14,266,089 |
Sony Group Corp. | 160,600 | 16,408,856 |
Starts Corp., Inc. | 308,400 | 6,969,852 |
Sumitomo Mitsui Financial Group, Inc. | 1,187,000 | 42,093,726 |
Takeda Pharmaceutical Co., Ltd. | 910,800 | 27,770,574 |
Takuma Co., Ltd. | 824,845 | 10,482,770 |
Toyota Motor Corp. | 2,401,000 | 43,929,158 |
Total | 507,452,154 |
Columbia Overseas Value Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Netherlands 6.1% | ||
ABN AMRO Bank NV | 1,549,421 | 20,618,492 |
ASR Nederland NV | 1,299,515 | 56,166,322 |
ING Groep NV | 4,980,931 | 58,169,822 |
Signify NV | 600,239 | 30,704,504 |
Total | 165,659,140 | |
Norway 1.2% | ||
Leroy Seafood Group ASA | 3,872,354 | 33,807,128 |
Pakistan 0.1% | ||
DG Khan Cement Co., Ltd. | 6,779,443 | 2,742,740 |
Russian Federation 0.1% | ||
Lukoil PJSC, ADR | 106,132 | 1,990,705 |
Singapore 2.2% | ||
BW LPG Ltd. | 2,349,305 | 14,000,004 |
Venture Corp., Ltd. | 3,544,400 | 46,234,574 |
Total | 60,234,578 | |
South Africa 0.7% | ||
Sibanye Stillwater Ltd., ADR(b) | 980,691 | 18,750,812 |
South Korea 1.4% | ||
GS Retail Co., Ltd. | 717,418 | 15,953,549 |
Hyundai Home Shopping Network Corp. | 128,465 | 6,246,438 |
Youngone Corp. | 479,524 | 17,053,751 |
Total | 39,253,738 | |
Spain 3.3% | ||
ACS Actividades de Construccion y Servicios SA | 632,928 | 15,380,526 |
Banco Santander SA | 12,518,680 | 41,687,434 |
Endesa SA | 1,372,174 | 30,162,345 |
Tecnicas Reunidas SA(a) | 507,767 | 4,150,812 |
Total | 91,381,117 | |
Sweden 0.7% | ||
Granges AB | 504,288 | 5,390,713 |
Stillfront Group AB(a) | 4,215,258 | 13,716,748 |
Total | 19,107,461 | |
Switzerland 2.0% | ||
Novartis AG, Registered Shares | 633,942 | 55,718,089 |
Taiwan 1.5% | ||
Fubon Financial Holding Co., Ltd. | 14,770,300 | 39,880,771 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
United Kingdom 19.8% | ||
AstraZeneca PLC, ADR | 398,791 | 24,278,396 |
Barclays Bank PLC | 9,322,202 | 22,779,369 |
BP PLC | 6,832,504 | 33,302,419 |
British American Tobacco PLC | 1,899,044 | 83,229,235 |
BT Group PLC | 9,869,862 | 24,626,241 |
Crest Nicholson Holdings PLC | 1,621,136 | 6,653,564 |
DCC PLC | 554,988 | 43,551,835 |
John Wood Group PLC(a) | 2,205,414 | 5,349,357 |
Just Group PLC(a) | 26,022,357 | 29,216,138 |
Liberty Global PLC, Class C(a) | 1,678,211 | 43,415,319 |
Micro Focus International PLC | 1,553,102 | 8,072,147 |
Royal Mail PLC | 1,956,653 | 10,283,299 |
Shell PLC | 3,191,518 | 84,162,876 |
TP Icap Group PLC | 14,668,570 | 23,593,786 |
Vodafone Group PLC | 40,972,603 | 72,125,675 |
WPP PLC | 1,975,430 | 27,784,202 |
Total | 542,423,858 | |
United States 4.9% | ||
Aerie Pharmaceuticals, Inc.(a) | 259,720 | 2,155,676 |
Burford Capital Ltd. | 2,282,597 | 22,278,147 |
Diversified Energy Co. PLC | 22,799,795 | 36,091,391 |
Insmed, Inc.(a) | 202,524 | 4,840,324 |
Jazz Pharmaceuticals PLC(a) | 246,080 | 33,816,314 |
Livent Corp.(a) | 763,655 | 17,984,075 |
Quotient Ltd.(a) | 910,623 | 1,274,872 |
Sage Therapeutics, Inc.(a) | 61,654 | 2,242,356 |
TE Connectivity Ltd. | 82,366 | 11,731,389 |
Total | 132,414,544 | |
Total Common Stocks (Cost $2,622,592,111) | 2,655,907,891 | |
Exchange-Traded Equity Funds 2.2% | ||
Shares | Value ($) | |
United States 2.2% | ||
iShares MSCI EAFE Value ETF | 1,201,586 | 60,019,221 |
Total Exchange-Traded Equity Funds (Cost $62,439,403) | 60,019,221 | |
8 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Rights 0.1% | ||
Issuer | Shares | Value ($) |
Sweden 0.1% | ||
Stillfront Group AB(a) | 4,215,258 | 1,845,443 |
Total Rights (Cost $—) | 1,845,443 | |
Money Market Funds 0.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(c),(d) | 11,104,200 | 11,100,869 |
Total Money Market Funds (Cost $11,100,287) | 11,100,869 | |
Total Investments in Securities (Cost $2,696,131,801) | 2,728,873,424 | |
Other Assets & Liabilities, Net | 5,874,104 | |
Net Assets | $2,734,747,528 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
167,794,000 CAD | 132,403,791 USD | Goldman Sachs International | 04/07/2022 | 2,090 | — |
10,602,000 GBP | 14,339,951 USD | Goldman Sachs International | 04/07/2022 | 113,297 | — |
92,391,000 ILS | 28,700,793 USD | Goldman Sachs International | 04/07/2022 | — | (102,809) |
40,994,616,000 KRW | 34,206,165 USD | Goldman Sachs International | 04/07/2022 | 131,768 | — |
1,116,102,000 TWD | 40,125,903 USD | Goldman Sachs International | 04/07/2022 | 251,572 | — |
137,438,083 USD | 191,921,000 AUD | Goldman Sachs International | 04/07/2022 | 2,038,201 | — |
45,573,306 USD | 42,164,000 CHF | Goldman Sachs International | 04/07/2022 | 481,806 | — |
14,030,110 USD | 45,292,000 ILS | Goldman Sachs International | 04/07/2022 | 90,018 | — |
8,447,315 USD | 971,013,000 JPY | Goldman Sachs International | 04/07/2022 | 6,206 | — |
39,590,347 USD | 365,765,000 SEK | Goldman Sachs International | 04/07/2022 | — | (935,122) |
Total | 3,114,958 | (1,037,931) |
Call option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
Cameco Corp. | Morgan Stanley | USD | (17,759,050) | (7,225) | 28.00 | 3/18/2022 | (161,773) | (299,837) |
Sibanye Stillwater Ltd. | Morgan Stanley | USD | (18,749,072) | (9,806) | 20.00 | 3/18/2022 | (53,647) | (661,905) |
Teck Resources Ltd. | Morgan Stanley | USD | (17,187,695) | (4,781) | 43.00 | 3/18/2022 | (88,500) | (102,792) |
Total | (303,920) | (1,064,534) |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
Columbia Overseas Value Fund | Annual Report 2022 | 9 |
February 28, 2022
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
12,842,919 | 777,552,364 | (779,294,996) | 582 | 11,100,869 | (3,215) | 13,529 | 11,104,200 |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
GBP | British Pound |
ILS | Israeli Shekel |
JPY | Japanese Yen |
KRW | South Korean Won |
SEK | Swedish Krona |
TWD | New Taiwan 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). |
10 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation control policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | — | 2,861,464 | — | 2,861,464 |
Austria | — | 11,449,961 | — | 11,449,961 |
Brazil | 14,374,443 | — | — | 14,374,443 |
Canada | 207,978,285 | — | — | 207,978,285 |
China | — | 13,941,403 | — | 13,941,403 |
Finland | — | 49,930,239 | — | 49,930,239 |
France | 449,191 | 341,555,877 | — | 342,005,068 |
Germany | — | 177,934,109 | — | 177,934,109 |
Greece | — | 16,915,990 | — | 16,915,990 |
Hong Kong | — | 42,468,831 | — | 42,468,831 |
Ireland | 1,031,727 | 39,552,606 | — | 40,584,333 |
Israel | — | 24,646,930 | — | 24,646,930 |
Japan | — | 507,452,154 | — | 507,452,154 |
Netherlands | — | 165,659,140 | — | 165,659,140 |
Norway | — | 33,807,128 | — | 33,807,128 |
Pakistan | — | 2,742,740 | — | 2,742,740 |
Russian Federation | — | 1,990,705 | — | 1,990,705 |
Singapore | — | 60,234,578 | — | 60,234,578 |
South Africa | 18,750,812 | — | — | 18,750,812 |
South Korea | — | 39,253,738 | — | 39,253,738 |
Spain | — | 91,381,117 | — | 91,381,117 |
Sweden | — | 19,107,461 | — | 19,107,461 |
Switzerland | — | 55,718,089 | — | 55,718,089 |
Taiwan | — | 39,880,771 | — | 39,880,771 |
United Kingdom | 67,693,715 | 474,730,143 | — | 542,423,858 |
United States | 96,323,153 | 36,091,391 | — | 132,414,544 |
Total Common Stocks | 406,601,326 | 2,249,306,565 | — | 2,655,907,891 |
Exchange-Traded Equity Funds | 60,019,221 | — | — | 60,019,221 |
Rights | ||||
Sweden | — | 1,845,443 | — | 1,845,443 |
Total Rights | — | 1,845,443 | — | 1,845,443 |
Money Market Funds | 11,100,869 | — | — | 11,100,869 |
Total Investments in Securities | 477,721,416 | 2,251,152,008 | — | 2,728,873,424 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 3,114,958 | — | 3,114,958 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (1,037,931) | — | (1,037,931) |
Options Contracts Written | (1,064,534) | — | — | (1,064,534) |
Total | 476,656,882 | 2,253,229,035 | — | 2,729,885,917 |
Columbia Overseas Value Fund | Annual Report 2022 | 11 |
February 28, 2022
The Fund’s assets assigned to the Level 2 input category are generally valued using the market approach, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets. These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The model utilized by such third party statistical pricing service takes into account a security’s correlation to available market data including, but not limited to, intraday index, ADR, and exchange-traded fund movements.
12 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $2,685,031,514) | $2,717,772,555 |
Affiliated issuers (cost $11,100,287) | 11,100,869 |
Cash | 1,417 |
Unrealized appreciation on forward foreign currency exchange contracts | 3,114,958 |
Receivable for: | |
Investments sold | 4,034,361 |
Capital shares sold | 4,151,562 |
Dividends | 2,548,326 |
Foreign tax reclaims | 4,083,583 |
Expense reimbursement due from Investment Manager | 13,641 |
Prepaid expenses | 16,703 |
Total assets | 2,746,837,975 |
Liabilities | |
Option contracts written, at value (premiums received $303,920) | 1,064,534 |
Unrealized depreciation on forward foreign currency exchange contracts | 1,037,931 |
Payable for: | |
Investments purchased | 6,332,370 |
Capital shares purchased | 2,822,830 |
Management services fees | 177,207 |
Distribution and/or service fees | 9,375 |
Transfer agent fees | 183,242 |
Compensation of board members | 259,829 |
Compensation of chief compliance officer | 420 |
Other expenses | 202,709 |
Total liabilities | 12,090,447 |
Net assets applicable to outstanding capital stock | $2,734,747,528 |
Represented by | |
Paid in capital | 2,982,766,228 |
Total distributable earnings (loss) | (248,018,700) |
Total - representing net assets applicable to outstanding capital stock | $2,734,747,528 |
Columbia Overseas Value Fund | Annual Report 2022 | 13 |
February 28, 2022
Class A | |
Net assets | $338,513,347 |
Shares outstanding | 33,489,605 |
Net asset value per share | $10.11 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.73 |
Advisor Class | |
Net assets | $404,890,833 |
Shares outstanding | 40,156,734 |
Net asset value per share | $10.08 |
Class C | |
Net assets | $19,242,862 |
Shares outstanding | 1,917,905 |
Net asset value per share | $10.03 |
Institutional Class | |
Net assets | $518,966,092 |
Shares outstanding | 51,240,646 |
Net asset value per share | $10.13 |
Institutional 2 Class | |
Net assets | $716,539,371 |
Shares outstanding | 71,180,163 |
Net asset value per share | $10.07 |
Institutional 3 Class | |
Net assets | $721,028,423 |
Shares outstanding | 71,530,791 |
Net asset value per share | $10.08 |
Class R | |
Net assets | $15,566,600 |
Shares outstanding | 1,581,243 |
Net asset value per share | $9.84 |
14 | Columbia Overseas Value Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $95,595,757 |
Dividends — affiliated issuers | 13,529 |
Foreign taxes withheld | (9,263,983) |
Total income | 86,345,303 |
Expenses: | |
Management services fees | 20,379,104 |
Distribution and/or service fees | |
Class A | 857,120 |
Class C | 209,200 |
Class R | 70,322 |
Transfer agent fees | |
Class A | 486,976 |
Advisor Class | 489,007 |
Class C | 29,766 |
Institutional Class | 708,180 |
Institutional 2 Class | 398,006 |
Institutional 3 Class | 45,590 |
Class R | 19,925 |
Compensation of board members | 79,877 |
Custodian fees | 377,026 |
Printing and postage fees | 264,572 |
Registration fees | 147,165 |
Audit fees | 93,243 |
Legal fees | 37,481 |
Interest on collateral | 271 |
Compensation of chief compliance officer | 406 |
Other | 152,268 |
Total expenses | 24,845,505 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,611,875) |
Expense reduction | (280) |
Total net expenses | 23,233,350 |
Net investment income | 63,111,953 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 80,489,676 |
Investments — affiliated issuers | (3,215) |
Foreign currency translations | (451,162) |
Forward foreign currency exchange contracts | (8,509,988) |
Options purchased | (2,630,105) |
Options contracts written | 1,933,761 |
Net realized gain | 70,828,967 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (45,486,909) |
Investments — affiliated issuers | 582 |
Foreign currency translations | (232,969) |
Forward foreign currency exchange contracts | 1,523,925 |
Options contracts written | (872,158) |
Net change in unrealized appreciation (depreciation) | (45,067,529) |
Net realized and unrealized gain | 25,761,438 |
Net increase in net assets resulting from operations | $88,873,391 |
Columbia Overseas Value Fund | Annual Report 2022 | 15 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $63,111,953 | $29,247,431 |
Net realized gain (loss) | 70,828,967 | (38,581,286) |
Net change in unrealized appreciation (depreciation) | (45,067,529) | 273,234,581 |
Net increase in net assets resulting from operations | 88,873,391 | 263,900,726 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (11,067,794) | (4,679,448) |
Advisor Class | (11,757,755) | (4,113,864) |
Class C | (504,315) | (221,278) |
Institutional Class | (17,975,864) | (6,665,431) |
Institutional 2 Class | (26,006,694) | (8,976,802) |
Institutional 3 Class | (27,502,053) | (4,989,626) |
Class R | (484,871) | (105,374) |
Total distributions to shareholders | (95,299,346) | (29,751,823) |
Increase in net assets from capital stock activity | 740,751,097 | 14,195,808 |
Total increase in net assets | 734,325,142 | 248,344,711 |
Net assets at beginning of year | 2,000,422,386 | 1,752,077,675 |
Net assets at end of year | $2,734,747,528 | $2,000,422,386 |
16 | Columbia Overseas Value Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 6,233,691 | 66,476,786 | 5,649,789 | 46,683,648 |
Fund reorganization | 4,285 | 44,736 | — | — |
Distributions reinvested | 1,059,055 | 10,705,814 | 500,549 | 4,511,486 |
Redemptions | (5,913,875) | (62,548,415) | (10,174,739) | (84,461,850) |
Net increase (decrease) | 1,383,156 | 14,678,921 | (4,024,401) | (33,266,716) |
Advisor Class | ||||
Subscriptions | 17,797,576 | 190,309,034 | 19,057,164 | 156,298,198 |
Fund reorganization | 4,039,099 | 42,049,576 | — | — |
Distributions reinvested | 1,162,793 | 11,726,703 | 451,710 | 4,100,981 |
Redemptions | (11,769,913) | (123,972,382) | (15,215,267) | (122,206,468) |
Net increase | 11,229,555 | 120,112,931 | 4,293,607 | 38,192,711 |
Class C | ||||
Subscriptions | 188,106 | 1,978,112 | 430,551 | 3,615,079 |
Distributions reinvested | 50,165 | 503,448 | 25,186 | 215,435 |
Redemptions | (583,560) | (6,147,866) | (1,557,708) | (12,960,986) |
Net decrease | (345,289) | (3,666,306) | (1,101,971) | (9,130,472) |
Institutional Class | ||||
Subscriptions | 21,464,914 | 228,595,718 | 19,275,980 | 159,111,887 |
Distributions reinvested | 1,714,711 | 17,352,111 | 700,908 | 6,375,932 |
Redemptions | (12,203,529) | (128,865,133) | (31,446,557) | (243,935,033) |
Net increase (decrease) | 10,976,096 | 117,082,696 | (11,469,669) | (78,447,214) |
Institutional 2 Class | ||||
Subscriptions | 44,433,415 | 467,540,027 | 19,386,268 | 162,369,386 |
Distributions reinvested | 2,583,941 | 25,998,838 | 984,166 | 8,975,679 |
Redemptions | (30,847,596) | (326,703,923) | (23,270,768) | (178,520,751) |
Net increase (decrease) | 16,169,760 | 166,834,942 | (2,900,334) | (7,175,686) |
Institutional 3 Class | ||||
Subscriptions | 49,017,595 | 518,942,169 | 32,159,038 | 286,411,490 |
Distributions reinvested | 1,924,294 | 19,356,884 | 549,666 | 4,980,697 |
Redemptions | (20,635,911) | (219,964,259) | (22,044,289) | (187,438,300) |
Net increase | 30,305,978 | 318,334,794 | 10,664,415 | 103,953,887 |
Class R | ||||
Subscriptions | 1,098,288 | 11,569,685 | 427,100 | 3,325,459 |
Distributions reinvested | 49,177 | 483,756 | 11,815 | 103,286 |
Redemptions | (452,156) | (4,680,322) | (417,258) | (3,359,447) |
Net increase | 695,309 | 7,373,119 | 21,657 | 69,298 |
Total net increase (decrease) | 70,414,565 | 740,751,097 | (4,516,696) | 14,195,808 |
Columbia Overseas Value Fund | Annual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2022 | $9.99 | 0.23 | 0.23 | 0.46 | (0.27) | (0.07) | (0.34) |
Year Ended 2/28/2021 | $8.55 | 0.14 | 1.44 | 1.58 | (0.10) | (0.04) | (0.14) |
Year Ended 2/29/2020 | $9.24 | 0.22 | (0.56) | (0.34) | (0.33) | (0.02) | (0.35) |
Year Ended 2/28/2019 | $10.37 | 0.27 | (1.10) | (0.83) | (0.13) | (0.17) | (0.30) |
Year Ended 2/28/2018 | $8.52 | 0.14 | 2.04 | 2.18 | (0.15) | (0.18) | (0.33) |
Advisor Class | |||||||
Year Ended 2/28/2022 | $9.96 | 0.25 | 0.24 | 0.49 | (0.30) | (0.07) | (0.37) |
Year Ended 2/28/2021 | $8.53 | 0.16 | 1.43 | 1.59 | (0.12) | (0.04) | (0.16) |
Year Ended 2/29/2020 | $9.21 | 0.22 | (0.52) | (0.30) | (0.36) | (0.02) | (0.38) |
Year Ended 2/28/2019 | $10.35 | 0.28 | (1.10) | (0.82) | (0.15) | (0.17) | (0.32) |
Year Ended 2/28/2018 | $8.49 | 0.15 | 2.06 | 2.21 | (0.17) | (0.18) | (0.35) |
Class C | |||||||
Year Ended 2/28/2022 | $9.91 | 0.16 | 0.22 | 0.38 | (0.19) | (0.07) | (0.26) |
Year Ended 2/28/2021 | $8.50 | 0.08 | 1.41 | 1.49 | (0.04) | (0.04) | (0.08) |
Year Ended 2/29/2020 | $9.20 | 0.16 | (0.57) | (0.41) | (0.27) | (0.02) | (0.29) |
Year Ended 2/28/2019 | $10.31 | 0.20 | (1.09) | (0.89) | (0.05) | (0.17) | (0.22) |
Year Ended 2/28/2018 | $8.48 | 0.06 | 2.04 | 2.10 | (0.09) | (0.18) | (0.27) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $10.01 | 0.26 | 0.23 | 0.49 | (0.30) | (0.07) | (0.37) |
Year Ended 2/28/2021 | $8.57 | 0.16 | 1.44 | 1.60 | (0.12) | (0.04) | (0.16) |
Year Ended 2/29/2020 | $9.25 | 0.24 | (0.54) | (0.30) | (0.36) | (0.02) | (0.38) |
Year Ended 2/28/2019 | $10.38 | 0.29 | (1.10) | (0.81) | (0.15) | (0.17) | (0.32) |
Year Ended 2/28/2018 | $8.53 | 0.15 | 2.05 | 2.20 | (0.17) | (0.18) | (0.35) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $9.95 | 0.27 | 0.23 | 0.50 | (0.31) | (0.07) | (0.38) |
Year Ended 2/28/2021 | $8.52 | 0.16 | 1.44 | 1.60 | (0.13) | (0.04) | (0.17) |
Year Ended 2/29/2020 | $9.20 | 0.25 | (0.54) | (0.29) | (0.37) | (0.02) | (0.39) |
Year Ended 2/28/2019 | $10.33 | 0.30 | (1.10) | (0.80) | (0.16) | (0.17) | (0.33) |
Year Ended 2/28/2018 | $8.48 | 0.18 | 2.03 | 2.21 | (0.18) | (0.18) | (0.36) |
18 | Columbia Overseas Value Fund | Annual Report 2022 |
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 2/28/2022 | $10.11 | 4.65% | 1.21%(c) | 1.15%(c),(d) | 2.20% | 43% | $338,513 |
Year Ended 2/28/2021 | $9.99 | 18.68% | 1.28%(c),(e) | 1.18%(c),(d),(e) | 1.65% | 54% | $320,615 |
Year Ended 2/29/2020 | $8.55 | (4.10%) | 1.24%(c) | 1.22%(c),(d) | 2.35% | 35% | $309,065 |
Year Ended 2/28/2019 | $9.24 | (7.96%) | 1.29%(c),(e) | 1.25%(c),(d),(e) | 2.80% | 58% | $341,198 |
Year Ended 2/28/2018 | $10.37 | 25.72% | 1.36%(f) | 1.36%(d),(f) | 1.41% | 47% | $363,817 |
Advisor Class | |||||||
Year Ended 2/28/2022 | $10.08 | 4.93% | 0.96%(c) | 0.90%(c),(d) | 2.37% | 43% | $404,891 |
Year Ended 2/28/2021 | $9.96 | 18.86% | 1.03%(c),(e) | 0.93%(c),(d),(e) | 1.85% | 54% | $288,182 |
Year Ended 2/29/2020 | $8.53 | (3.78%) | 0.99%(c) | 0.97%(c),(d) | 2.41% | 35% | $210,152 |
Year Ended 2/28/2019 | $9.21 | (7.80%) | 1.04%(c),(e) | 0.99%(c),(d),(e) | 2.96% | 58% | $161,150 |
Year Ended 2/28/2018 | $10.35 | 26.18% | 1.11%(f) | 1.10%(d),(f) | 1.47% | 47% | $78,634 |
Class C | |||||||
Year Ended 2/28/2022 | $10.03 | 3.88% | 1.96%(c) | 1.90%(c),(d) | 1.50% | 43% | $19,243 |
Year Ended 2/28/2021 | $9.91 | 17.66% | 2.03%(c),(e) | 1.93%(c),(d),(e) | 0.98% | 54% | $22,436 |
Year Ended 2/29/2020 | $8.50 | (4.81%) | 1.99%(c) | 1.97%(c),(d) | 1.73% | 35% | $28,608 |
Year Ended 2/28/2019 | $9.20 | (8.60%) | 2.04%(c),(e) | 2.00%(c),(d),(e) | 2.09% | 58% | $42,165 |
Year Ended 2/28/2018 | $10.31 | 24.87% | 2.11%(f) | 2.10%(d),(f) | 0.61% | 47% | $44,594 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $10.13 | 4.91% | 0.96%(c) | 0.90%(c),(d) | 2.40% | 43% | $518,966 |
Year Ended 2/28/2021 | $10.01 | 18.89% | 1.03%(c),(e) | 0.93%(c),(d),(e) | 1.93% | 54% | $402,868 |
Year Ended 2/29/2020 | $8.57 | (3.76%) | 0.99%(c) | 0.97%(c),(d) | 2.54% | 35% | $443,217 |
Year Ended 2/28/2019 | $9.25 | (7.69%) | 1.04%(c),(e) | 1.00%(c),(d),(e) | 3.05% | 58% | $432,061 |
Year Ended 2/28/2018 | $10.38 | 25.94% | 1.11%(f) | 1.10%(d),(f) | 1.46% | 47% | $309,845 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $10.07 | 5.02% | 0.88%(c) | 0.82%(c) | 2.52% | 43% | $716,539 |
Year Ended 2/28/2021 | $9.95 | 18.99% | 0.93%(c),(e) | 0.84%(c),(e) | 1.92% | 54% | $547,159 |
Year Ended 2/29/2020 | $8.52 | (3.68%) | 0.90%(c) | 0.86%(c) | 2.70% | 35% | $493,226 |
Year Ended 2/28/2019 | $9.20 | (7.61%) | 0.96%(c),(e) | 0.88%(c),(e) | 3.39% | 58% | $533,584 |
Year Ended 2/28/2018 | $10.33 | 26.23% | 0.99%(f) | 0.98%(f) | 1.82% | 47% | $68,822 |
Columbia Overseas Value Fund | Annual Report 2022 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $9.96 | 0.26 | 0.24 | 0.50 | (0.31) | (0.07) | (0.38) |
Year Ended 2/28/2021 | $8.53 | 0.16 | 1.44 | 1.60 | (0.13) | (0.04) | (0.17) |
Year Ended 2/29/2020 | $9.21 | 0.25 | (0.54) | (0.29) | (0.37) | (0.02) | (0.39) |
Year Ended 2/28/2019 | $10.35 | 0.30 | (1.10) | (0.80) | (0.17) | (0.17) | (0.34) |
Year Ended 2/28/2018 | $8.49 | 0.21 | 2.02 | 2.23 | (0.19) | (0.18) | (0.37) |
Class R | |||||||
Year Ended 2/28/2022 | $9.73 | 0.19 | 0.24 | 0.43 | (0.25) | (0.07) | (0.32) |
Year Ended 2/28/2021 | $8.34 | 0.11 | 1.40 | 1.51 | (0.08) | (0.04) | (0.12) |
Year Ended 2/29/2020 | $9.02 | 0.18 | (0.53) | (0.35) | (0.31) | (0.02) | (0.33) |
Year Ended 2/28/2019 | $10.13 | 0.23 | (1.07) | (0.84) | (0.10) | (0.17) | (0.27) |
Year Ended 2/28/2018 | $8.33 | 0.08 | 2.03 | 2.11 | (0.13) | (0.18) | (0.31) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include interfund lending expense which is less than 0.01%. |
(f) | Ratios include line of credit interest expense which is less than 0.01%. |
20 | Columbia Overseas Value Fund | Annual Report 2022 |
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 2/28/2022 | $10.08 | 5.07% | 0.83%(c) | 0.77%(c) | 2.46% | 43% | $721,028 |
Year Ended 2/28/2021 | $9.96 | 19.00% | 0.88%(c),(e) | 0.79%(c),(e) | 1.93% | 54% | $410,541 |
Year Ended 2/29/2020 | $8.53 | (3.65%) | 0.85%(c) | 0.83%(c) | 2.67% | 35% | $260,599 |
Year Ended 2/28/2019 | $9.21 | (7.64%) | 0.89%(c),(e) | 0.85%(c),(e) | 3.11% | 58% | $248,248 |
Year Ended 2/28/2018 | $10.35 | 26.37% | 0.94%(f) | 0.93%(f) | 2.08% | 47% | $340,651 |
Class R | |||||||
Year Ended 2/28/2022 | $9.84 | 4.40% | 1.47%(c) | 1.40%(c),(d) | 1.84% | 43% | $15,567 |
Year Ended 2/28/2021 | $9.73 | 18.29% | 1.53%(c),(e) | 1.43%(c),(d),(e) | 1.36% | 54% | $8,621 |
Year Ended 2/29/2020 | $8.34 | (4.30%) | 1.49%(c) | 1.47%(c),(d) | 2.00% | 35% | $7,209 |
Year Ended 2/28/2019 | $9.02 | (8.20%) | 1.55%(c),(e) | 1.49%(c),(d),(e) | 2.47% | 58% | $5,864 |
Year Ended 2/28/2018 | $10.13 | 25.46% | 1.61%(f) | 1.59%(d),(f) | 0.80% | 47% | $3,099 |
Columbia Overseas Value Fund | Annual Report 2022 | 21 |
February 28, 2022
22 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Columbia Overseas Value Fund | Annual Report 2022 | 23 |
February 28, 2022
24 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Columbia Overseas Value Fund | Annual Report 2022 | 25 |
February 28, 2022
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 3,114,958 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Options contracts written, at value | 1,064,534 |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 1,037,931 |
Total | 2,102,465 |
Amount of realized gain (loss) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | 1,933,761 | (2,630,105) | (696,344) |
Foreign exchange risk | (8,509,988) | — | — | (8,509,988) |
Total | (8,509,988) | 1,933,761 | (2,630,105) | (9,206,332) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Total ($) |
Equity risk | — | (872,158) | (872,158) |
Foreign exchange risk | 1,523,925 | — | 1,523,925 |
Total | 1,523,925 | (872,158) | 651,767 |
Derivative instrument | Average value ($) |
Options contracts — purchased | 209,534* |
Options contracts — written | (286,667)** |
Derivative instrument | Average unrealized appreciation ($)** | Average unrealized depreciation ($)** |
Forward foreign currency exchange contracts | 2,057,148 | (2,438,290) |
* | Based on the ending daily outstanding amounts for the year ended February 28, 2022. |
** | Based on the ending quarterly outstanding amounts for the year ended February 28, 2022. |
26 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Goldman Sachs International ($) | Morgan Stanley ($) | Total ($) | |
Assets | |||
Forward foreign currency exchange contracts | 3,114,958 | - | 3,114,958 |
Liabilities | |||
Forward foreign currency exchange contracts | 1,037,931 | - | 1,037,931 |
Options contracts written | - | 1,064,534 | 1,064,534 |
Total liabilities | 1,037,931 | 1,064,534 | 2,102,465 |
Total financial and derivative net assets | 2,077,027 | (1,064,534) | 1,012,493 |
Total collateral received (pledged) (a) | 460,000 | (1,064,534) | (604,534) |
Net amount (b) | 1,617,027 | - | 1,617,027 |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Overseas Value Fund | Annual Report 2022 | 27 |
February 28, 2022
28 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Effective rate (%) | |
Class A | 0.14 |
Advisor Class | 0.14 |
Class C | 0.14 |
Institutional Class | 0.14 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.14 |
Columbia Overseas Value Fund | Annual Report 2022 | 29 |
February 28, 2022
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 179,114 |
Class C | — | 1.00(b) | 809 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through June 30, 2024 | |
Class A | 1.16% |
Advisor Class | 0.91 |
Class C | 1.91 |
Institutional Class | 0.91 |
Institutional 2 Class | 0.82 |
Institutional 3 Class | 0.77 |
Class R | 1.41 |
30 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(7,642,574) | 7,454,369 | 188,205 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
77,253,206 | 18,046,140 | 95,299,346 | 21,683,330 | 8,068,493 | 29,751,823 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 26,079,312 | (274,747,450) | 3,491,240 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
2,726,394,677 | 256,811,293 | (253,320,053) | 3,491,240 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | (274,747,450) | (274,747,450) | 35,298,171 |
Columbia Overseas Value Fund | Annual Report 2022 | 31 |
February 28, 2022
Late year ordinary losses ($) | Post-October capital losses ($) |
2,435,594 | — |
32 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Shares | |
Class A | 4,285 |
Advisor Class | 4,039,099 |
($) | |
Net investment income | 64,507,000 |
Net realized gain | 81,877,000 |
Net change in unrealized appreciation/(depreciation) | (52,161,000) |
Net increase in net assets from operations | 94,223,000 |
Columbia Overseas Value Fund | Annual Report 2022 | 33 |
February 28, 2022
34 | Columbia Overseas Value Fund | Annual Report 2022 |
February 28, 2022
Columbia Overseas Value Fund | Annual Report 2022 | 35 |
February 28, 2022
36 | Columbia Overseas Value Fund | Annual Report 2022 |
Columbia Overseas Value Fund | Annual Report 2022 | 37 |
Qualified dividend income | Capital gain dividend | Foreign taxes paid to foreign countries | Foreign taxes paid per share to foreign countries | Foreign source income | Foreign source income per share |
100.00% | $46,331,725 | $8,825,234 | $0.03 | $93,428,222 | $0.34 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
38 | Columbia Overseas Value Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Overseas Value Fund | Annual Report 2022 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
40 | Columbia Overseas Value Fund | Annual Report 2022 |
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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
Columbia Overseas Value Fund | Annual Report 2022 | 41 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | 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. |
42 | Columbia Overseas Value Fund | Annual Report 2022 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Overseas Value Fund | Annual Report 2022 | 43 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
44 | Columbia Overseas Value Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
6 | |
7 | |
12 | |
13 | |
14 | |
16 | |
20 | |
31 | |
32 | |
32 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 07/31/96 | 20.15 | 14.72 | 14.04 | |
Advisor Class* | 07/01/15 | 20.50 | 15.01 | 14.23 | |
Institutional Class | 07/31/96 | 20.49 | 15.01 | 14.34 | |
Institutional 2 Class* | 06/25/14 | 20.67 | 15.13 | 14.36 | |
Institutional 3 Class | 07/15/09 | 20.73 | 15.19 | 14.50 | |
Class R | 01/23/06 | 19.85 | 14.43 | 13.77 | |
S&P 500 Index | 16.39 | 15.17 | 14.59 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 97.5 |
Money Market Funds | 2.5 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 9.7 |
Consumer Discretionary | 11.9 |
Consumer Staples | 6.6 |
Energy | 3.3 |
Financials | 11.0 |
Health Care | 13.8 |
Industrials | 8.5 |
Information Technology | 28.0 |
Materials | 2.4 |
Real Estate | 2.5 |
Utilities | 2.3 |
Total | 100.0 |
4 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
• | The Fund’s outperformance of its benchmark during the period was driven by strong stock selection, most notably in the information technology, health care and communication services sectors. |
• | Individual stocks that contributed most to relative performance included online payment company PayPal Holdings, parent company of search engine giant Google Alphabet (Class A), cybersecurity company Fortinet, steel manufacturer Nucor Corporation and entertainment conglomerate Walt Disney. |
• | An underweight posture in financials and security selection in utilities detracted, resulting in relative underperformance in both sectors during the period. |
• | Individual stocks that detracted most from relative performance during the period included computer graphics semiconductor company NVIDIA, interactive entertainment software company Activision Blizzard, computer software and multimedia tool supplier Autodesk and oil and gas giant Chevron Corp. We sold the Fund’s position in Chevron Corp. before the close of the reporting period. |
• | Not owning Class C shares of Alphabet also weighed on results versus the benchmark during the period. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 5 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 990.80 | 1,020.68 | 4.10 | 4.16 | 0.83 |
Advisor Class | 1,000.00 | 1,000.00 | 992.10 | 1,021.92 | 2.86 | 2.91 | 0.58 |
Institutional Class | 1,000.00 | 1,000.00 | 992.20 | 1,021.92 | 2.86 | 2.91 | 0.58 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 992.70 | 1,022.56 | 2.22 | 2.26 | 0.45 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 992.80 | 1,022.81 | 1.98 | 2.01 | 0.40 |
Class R | 1,000.00 | 1,000.00 | 989.30 | 1,019.44 | 5.33 | 5.41 | 1.08 |
6 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
Common Stocks 97.5% | ||
Issuer | Shares | Value ($) |
Communication Services 9.5% | ||
Entertainment 0.4% | ||
Activision Blizzard, Inc. | 8,351 | 680,606 |
Walt Disney Co. (The)(a) | 5,532 | 821,281 |
Total | 1,501,887 | |
Interactive Media & Services 6.7% | ||
Alphabet, Inc., Class A(a) | 7,205 | 19,461,714 |
Meta Platforms, Inc., Class A(a) | 37,268 | 7,864,666 |
Total | 27,326,380 | |
Media 2.4% | ||
Charter Communications, Inc., Class A(a) | 2,907 | 1,749,375 |
Comcast Corp., Class A | 16,517 | 772,335 |
Fox Corp., Class A | 33,760 | 1,412,181 |
Interpublic Group of Companies, Inc. (The) | 80,559 | 2,964,571 |
Omnicom Group, Inc. | 36,470 | 3,059,468 |
Total | 9,957,930 | |
Total Communication Services | 38,786,197 | |
Consumer Discretionary 11.6% | ||
Automobiles 1.3% | ||
Tesla Motors, Inc.(a) | 5,941 | 5,171,225 |
Distributors 0.9% | ||
Genuine Parts Co. | 17,858 | 2,181,533 |
LKQ Corp. | 35,988 | 1,689,637 |
Total | 3,871,170 | |
Hotels, Restaurants & Leisure 1.4% | ||
Darden Restaurants, Inc. | 18,752 | 2,723,165 |
Expedia Group, Inc.(a) | 8,744 | 1,714,786 |
McDonald’s Corp. | 5,718 | 1,399,595 |
Total | 5,837,546 | |
Household Durables 1.7% | ||
Lennar Corp., Class A | 27,321 | 2,455,611 |
NVR, Inc.(a) | 338 | 1,675,953 |
PulteGroup, Inc. | 55,888 | 2,775,398 |
Total | 6,906,962 | |
Internet & Direct Marketing Retail 3.0% | ||
Amazon.com, Inc.(a) | 3,992 | 12,260,470 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Specialty Retail 1.7% | ||
AutoZone, Inc.(a) | 1,356 | 2,526,757 |
Home Depot, Inc. (The) | 5,581 | 1,762,647 |
O’Reilly Automotive, Inc.(a) | 3,839 | 2,492,432 |
Total | 6,781,836 | |
Textiles, Apparel & Luxury Goods 1.6% | ||
Ralph Lauren Corp. | 16,700 | 2,205,068 |
Tapestry, Inc. | 53,794 | 2,200,175 |
Under Armour, Inc., Class A(a) | 112,607 | 2,014,539 |
Total | 6,419,782 | |
Total Consumer Discretionary | 47,248,991 | |
Consumer Staples 6.4% | ||
Beverages 1.4% | ||
Coca-Cola Co. (The) | 89,898 | 5,595,251 |
Food & Staples Retailing 0.5% | ||
Kroger Co. (The) | 23,260 | 1,088,568 |
Walmart, Inc. | 8,930 | 1,206,979 |
Total | 2,295,547 | |
Food Products 0.8% | ||
Tyson Foods, Inc., Class A | 34,607 | 3,206,685 |
Household Products 1.7% | ||
Procter & Gamble Co. (The) | 44,655 | 6,961,268 |
Tobacco 2.0% | ||
Altria Group, Inc. | 72,872 | 3,737,605 |
Philip Morris International, Inc. | 44,565 | 4,504,184 |
Total | 8,241,789 | |
Total Consumer Staples | 26,300,540 | |
Energy 3.3% | ||
Oil, Gas & Consumable Fuels 3.3% | ||
ConocoPhillips Co. | 42,445 | 4,026,333 |
EOG Resources, Inc. | 19,103 | 2,195,317 |
Exxon Mobil Corp. | 75,585 | 5,927,375 |
Occidental Petroleum Corp. | 25,900 | 1,132,607 |
Total | 13,281,632 | |
Total Energy | 13,281,632 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Financials 10.7% | ||
Banks 2.8% | ||
Bank of America Corp. | 21,678 | 958,168 |
Citigroup, Inc. | 20,903 | 1,238,085 |
JPMorgan Chase & Co. | 14,092 | 1,998,245 |
Wells Fargo & Co. | 94,433 | 5,039,889 |
Zions Bancorp | 32,010 | 2,269,189 |
Total | 11,503,576 | |
Capital Markets 2.3% | ||
Cboe Global Markets, Inc. | 20,867 | 2,447,490 |
Goldman Sachs Group, Inc. (The) | 10,381 | 3,542,932 |
Morgan Stanley | 39,315 | 3,567,443 |
Total | 9,557,865 | |
Consumer Finance 1.6% | ||
Capital One Financial Corp. | 21,164 | 3,243,806 |
Discover Financial Services | 24,883 | 3,071,558 |
Total | 6,315,364 | |
Diversified Financial Services 0.9% | ||
Berkshire Hathaway, Inc., Class B(a) | 11,252 | 3,616,955 |
Insurance 3.1% | ||
Allstate Corp. (The) | 19,811 | 2,424,074 |
Aon PLC, Class A | 4,099 | 1,197,482 |
Marsh & McLennan Companies, Inc. | 22,219 | 3,453,055 |
MetLife, Inc. | 51,677 | 3,490,781 |
Prudential Financial, Inc. | 19,738 | 2,203,945 |
Total | 12,769,337 | |
Total Financials | 43,763,097 | |
Health Care 13.4% | ||
Biotechnology 2.3% | ||
AbbVie, Inc. | 28,998 | 4,285,034 |
Amgen, Inc. | 3,517 | 796,530 |
Gilead Sciences, Inc. | 10,180 | 614,872 |
Regeneron Pharmaceuticals, Inc.(a) | 2,039 | 1,260,836 |
Vertex Pharmaceuticals, Inc.(a) | 10,080 | 2,318,602 |
Total | 9,275,874 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care Equipment & Supplies 2.7% | ||
Abbott Laboratories | 36,596 | 4,414,210 |
Baxter International, Inc. | 37,273 | 3,167,087 |
Becton Dickinson and Co. | 13,440 | 3,646,003 |
Total | 11,227,300 | |
Health Care Providers & Services 2.6% | ||
Anthem, Inc. | 2,309 | 1,043,322 |
CVS Health Corp. | 40,439 | 4,191,502 |
McKesson Corp. | 11,916 | 3,276,423 |
UnitedHealth Group, Inc. | 4,688 | 2,230,879 |
Total | 10,742,126 | |
Life Sciences Tools & Services 0.7% | ||
IQVIA Holdings, Inc.(a) | 12,951 | 2,980,284 |
Pharmaceuticals 5.1% | ||
Bristol-Myers Squibb Co. | 69,279 | 4,757,389 |
Eli Lilly & Co. | 5,001 | 1,250,000 |
Johnson & Johnson | 31,319 | 5,154,168 |
Merck & Co., Inc. | 59,677 | 4,570,064 |
Pfizer, Inc. | 105,033 | 4,930,249 |
Total | 20,661,870 | |
Total Health Care | 54,887,454 | |
Industrials 8.3% | ||
Aerospace & Defense 2.6% | ||
General Dynamics Corp. | 15,729 | 3,687,664 |
Lockheed Martin Corp. | 9,500 | 4,121,100 |
Textron, Inc. | 38,934 | 2,847,243 |
Total | 10,656,007 | |
Air Freight & Logistics 1.0% | ||
United Parcel Service, Inc., Class B | 18,783 | 3,952,319 |
Airlines 0.1% | ||
Southwest Airlines Co.(a) | 14,236 | 623,537 |
Building Products 0.4% | ||
Allegion PLC | 14,950 | 1,712,074 |
Commercial Services & Supplies 0.6% | ||
Cintas Corp. | 2,385 | 895,138 |
Republic Services, Inc. | 12,380 | 1,489,067 |
Total | 2,384,205 |
8 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Electrical Equipment 0.8% | ||
Emerson Electric Co. | 33,491 | 3,111,984 |
Industrial Conglomerates 0.8% | ||
Roper Technologies, Inc. | 7,211 | 3,232,114 |
Machinery 0.6% | ||
Snap-On, Inc. | 11,790 | 2,478,022 |
Road & Rail 1.4% | ||
Norfolk Southern Corp. | 7,039 | 1,805,644 |
Union Pacific Corp. | 16,023 | 3,940,857 |
Total | 5,746,501 | |
Total Industrials | 33,896,763 | |
Information Technology 27.3% | ||
Communications Equipment 1.3% | ||
Cisco Systems, Inc. | 93,232 | 5,199,549 |
IT Services 3.5% | ||
Fidelity National Information Services, Inc. | 27,523 | 2,621,015 |
Gartner, Inc.(a) | 9,877 | 2,769,708 |
MasterCard, Inc., Class A | 2,593 | 935,606 |
VeriSign, Inc.(a) | 12,326 | 2,634,313 |
Visa, Inc., Class A | 24,612 | 5,319,146 |
Total | 14,279,788 | |
Semiconductors & Semiconductor Equipment 5.1% | ||
Advanced Micro Devices, Inc.(a) | 30,576 | 3,771,244 |
KLA Corp. | 2,600 | 906,100 |
Lam Research Corp. | 5,451 | 3,059,919 |
NVIDIA Corp. | 18,861 | 4,599,255 |
QUALCOMM, Inc. | 28,296 | 4,866,629 |
Teradyne, Inc. | 24,250 | 2,859,560 |
Texas Instruments, Inc. | 4,751 | 807,622 |
Total | 20,870,329 | |
Software 9.9% | ||
Adobe, Inc.(a) | 9,089 | 4,250,743 |
Autodesk, Inc.(a) | 11,355 | 2,500,712 |
Cadence Design Systems, Inc.(a) | 11,024 | 1,669,364 |
Fortinet, Inc.(a) | 9,286 | 3,199,213 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Intuit, Inc. | 6,827 | 3,238,524 |
Microsoft Corp.(b) | 86,405 | 25,816,950 |
Total | 40,675,506 | |
Technology Hardware, Storage & Peripherals 7.5% | ||
Apple, Inc. | 181,535 | 29,975,059 |
HP, Inc. | 23,579 | 810,175 |
Total | 30,785,234 | |
Total Information Technology | 111,810,406 | |
Materials 2.3% | ||
Chemicals 1.4% | ||
Celanese Corp., Class A | 14,147 | 1,970,394 |
Dow, Inc. | 47,336 | 2,790,931 |
LyondellBasell Industries NV, Class A | 11,626 | 1,130,396 |
Total | 5,891,721 | |
Metals & Mining 0.9% | ||
Nucor Corp. | 27,911 | 3,673,646 |
Total Materials | 9,565,367 | |
Real Estate 2.4% | ||
Equity Real Estate Investment Trusts (REITS) 1.9% | ||
Iron Mountain, Inc. | 20,187 | 992,797 |
Public Storage | 3,280 | 1,164,465 |
Simon Property Group, Inc. | 21,264 | 2,925,076 |
Weyerhaeuser Co. | 74,593 | 2,900,176 |
Total | 7,982,514 | |
Real Estate Management & Development 0.5% | ||
CBRE Group, Inc., Class A(a) | 19,747 | 1,912,497 |
Total Real Estate | 9,895,011 | |
Utilities 2.3% | ||
Electric Utilities 2.3% | ||
Duke Energy Corp. | 34,288 | 3,442,858 |
Evergy, Inc. | 42,052 | 2,624,465 |
Exelon Corp. | 14,835 | 631,378 |
NRG Energy, Inc. | 68,501 | 2,592,078 |
Total | 9,290,779 | |
Total Utilities | 9,290,779 | |
Total Common Stocks (Cost $249,206,610) | 398,726,237 | |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 9 |
February 28, 2022
Money Market Funds 2.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(c),(d) | 10,067,584 | 10,064,564 |
Total Money Market Funds (Cost $10,065,041) | 10,064,564 | |
Total Investments in Securities (Cost: $259,271,651) | 408,790,801 | |
Other Assets & Liabilities, Net | 225,808 | |
Net Assets | 409,016,609 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 9 | 03/2022 | USD | 1,965,600 | 1,440 | — |
S&P 500 Index E-mini | 39 | 03/2022 | USD | 8,517,600 | — | (222,964) |
Total | 1,440 | (222,964) |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
7,860,589 | 70,259,515 | (68,054,674) | (866) | 10,064,564 | (655) | 5,002 | 10,067,584 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
10 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
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 | 38,786,197 | — | — | 38,786,197 |
Consumer Discretionary | 47,248,991 | — | — | 47,248,991 |
Consumer Staples | 26,300,540 | — | — | 26,300,540 |
Energy | 13,281,632 | — | — | 13,281,632 |
Financials | 43,763,097 | — | — | 43,763,097 |
Health Care | 54,887,454 | — | — | 54,887,454 |
Industrials | 33,896,763 | — | — | 33,896,763 |
Information Technology | 111,810,406 | — | — | 111,810,406 |
Materials | 9,565,367 | — | — | 9,565,367 |
Real Estate | 9,895,011 | — | — | 9,895,011 |
Utilities | 9,290,779 | — | — | 9,290,779 |
Total Common Stocks | 398,726,237 | — | — | 398,726,237 |
Money Market Funds | 10,064,564 | — | — | 10,064,564 |
Total Investments in Securities | 408,790,801 | — | — | 408,790,801 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 1,440 | — | — | 1,440 |
Liability | ||||
Futures Contracts | (222,964) | — | — | (222,964) |
Total | 408,569,277 | — | — | 408,569,277 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 11 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $249,206,610) | $398,726,237 |
Affiliated issuers (cost $10,065,041) | 10,064,564 |
Cash | 693 |
Receivable for: | |
Capital shares sold | 98,390 |
Dividends | 622,049 |
Expense reimbursement due from Investment Manager | 13,305 |
Prepaid expenses | 8,733 |
Total assets | 409,533,971 |
Liabilities | |
Payable for: | |
Capital shares purchased | 258,970 |
Variation margin for futures contracts | 28,800 |
Management services fees | 25,246 |
Distribution and/or service fees | 3,377 |
Transfer agent fees | 43,858 |
Compensation of board members | 134,838 |
Compensation of chief compliance officer | 68 |
Other expenses | 22,205 |
Total liabilities | 517,362 |
Net assets applicable to outstanding capital stock | $409,016,609 |
Represented by | |
Paid in capital | 238,699,834 |
Total distributable earnings (loss) | 170,316,775 |
Total - representing net assets applicable to outstanding capital stock | $409,016,609 |
Class A | |
Net assets | $61,023,910 |
Shares outstanding | 2,373,116 |
Net asset value per share | $25.71 |
Advisor Class | |
Net assets | $8,459,403 |
Shares outstanding | 334,629 |
Net asset value per share | $25.28 |
Institutional Class | |
Net assets | $88,027,546 |
Shares outstanding | 3,430,747 |
Net asset value per share | $25.66 |
Institutional 2 Class | |
Net assets | $6,628,319 |
Shares outstanding | 259,825 |
Net asset value per share | $25.51 |
Institutional 3 Class | |
Net assets | $193,328,680 |
Shares outstanding | 7,528,321 |
Net asset value per share | $25.68 |
Class R | |
Net assets | $51,548,751 |
Shares outstanding | 2,012,463 |
Net asset value per share | $25.61 |
12 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $7,608,205 |
Dividends — affiliated issuers | 5,002 |
Total income | 7,613,207 |
Expenses: | |
Management services fees | 3,444,662 |
Distribution and/or service fees | |
Class A | 160,911 |
Class R | 292,241 |
Transfer agent fees | |
Class A | 119,330 |
Advisor Class | 15,196 |
Institutional Class | 169,264 |
Institutional 2 Class | 4,707 |
Institutional 3 Class | 14,883 |
Class R | 108,581 |
Compensation of board members | 38,495 |
Custodian fees | 9,881 |
Printing and postage fees | 20,667 |
Registration fees | 91,086 |
Audit fees | 29,500 |
Legal fees | 16,764 |
Interest on collateral | 195 |
Compensation of chief compliance officer | 65 |
Other | 14,287 |
Total expenses | 4,550,715 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,834,770) |
Fees waived by transfer agent | |
Institutional 2 Class | (411) |
Institutional 3 Class | (9,012) |
Expense reduction | (40) |
Total net expenses | 2,706,482 |
Net investment income | 4,906,725 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 114,636,524 |
Investments — affiliated issuers | (655) |
Futures contracts | 1,632,226 |
Net realized gain | 116,268,095 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (28,852,770) |
Investments — affiliated issuers | (866) |
Futures contracts | (369,858) |
Net change in unrealized appreciation (depreciation) | (29,223,494) |
Net realized and unrealized gain | 87,044,601 |
Net increase in net assets resulting from operations | $91,951,326 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 13 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $4,906,725 | $5,531,537 |
Net realized gain | 116,268,095 | 22,648,502 |
Net change in unrealized appreciation (depreciation) | (29,223,494) | 91,492,066 |
Net increase in net assets resulting from operations | 91,951,326 | 119,672,105 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (15,720,116) | (4,505,290) |
Advisor Class | (2,090,505) | (990,442) |
Institutional Class | (22,298,922) | (6,631,927) |
Institutional 2 Class | (1,892,219) | (761,560) |
Institutional 3 Class | (53,752,772) | (18,311,383) |
Class R | (13,055,006) | (4,161,044) |
Total distributions to shareholders | (108,809,540) | (35,361,646) |
Increase (decrease) in net assets from capital stock activity | (61,711,493) | 810,973 |
Total increase (decrease) in net assets | (78,569,707) | 85,121,432 |
Net assets at beginning of year | 487,586,316 | 402,464,884 |
Net assets at end of year | $409,016,609 | $487,586,316 |
14 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 324,168 | 9,387,862 | 280,091 | 6,662,555 |
Distributions reinvested | 454,796 | 12,508,794 | 158,667 | 3,675,238 |
Redemptions | (545,889) | (15,786,572) | (740,543) | (18,101,523) |
Net increase (decrease) | 233,075 | 6,110,084 | (301,785) | (7,763,730) |
Advisor Class | ||||
Subscriptions | 47,974 | 1,440,214 | 67,303 | 1,542,820 |
Distributions reinvested | 77,442 | 2,090,505 | 43,533 | 990,442 |
Redemptions | (86,688) | (2,528,250) | (341,527) | (8,253,798) |
Net increase (decrease) | 38,728 | 1,002,469 | (230,691) | (5,720,536) |
Institutional Class | ||||
Subscriptions | 477,447 | 13,232,520 | 377,887 | 8,820,872 |
Distributions reinvested | 697,927 | 19,154,056 | 244,043 | 5,661,877 |
Redemptions | (876,756) | (25,332,187) | (1,709,689) | (37,842,447) |
Net increase (decrease) | 298,618 | 7,054,389 | (1,087,759) | (23,359,698) |
Institutional 2 Class | ||||
Subscriptions | 67,414 | 1,975,397 | 122,167 | 2,861,702 |
Distributions reinvested | 67,519 | 1,846,529 | 33,002 | 761,559 |
Redemptions | (197,380) | (5,849,287) | (335,196) | (7,715,412) |
Net decrease | (62,447) | (2,027,361) | (180,027) | (4,092,151) |
Institutional 3 Class | ||||
Subscriptions | 700,226 | 20,034,893 | 4,601,237 | 99,913,321 |
Distributions reinvested | 951,957 | 26,126,306 | 405,751 | 9,469,012 |
Redemptions | (3,806,575) | (114,838,980) | (2,853,671) | (65,358,220) |
Net increase (decrease) | (2,154,392) | (68,677,781) | 2,153,317 | 44,024,113 |
Class R | ||||
Subscriptions | 473,731 | 13,757,874 | 658,851 | 16,092,539 |
Distributions reinvested | 461,727 | 12,684,637 | 168,570 | 3,884,605 |
Redemptions | (1,060,505) | (31,615,804) | (917,703) | (22,254,169) |
Net decrease | (125,047) | (5,173,293) | (90,282) | (2,277,025) |
Total net increase (decrease) | (1,771,465) | (61,711,493) | 262,773 | 810,973 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2022 | $27.58 | 0.25 | 5.49 | 5.74 | (0.26) | (7.35) | (7.61) |
Year Ended 2/28/2021 | $23.11 | 0.25 | 6.18 | 6.43 | (0.26) | (1.70) | (1.96) |
Year Ended 2/29/2020 | $23.52 | 0.27 | 0.32 | 0.59 | (0.24) | (0.76) | (1.00) |
Year Ended 2/28/2019 | $25.12 | 0.28 | 0.69 | 0.97 | (0.24) | (2.33) | (2.57) |
Year Ended 2/28/2018 | $23.81 | 0.32 | 4.16 | 4.48 | (0.32) | (2.85) | (3.17) |
Advisor Class | |||||||
Year Ended 2/28/2022 | $27.21 | 0.31 | 5.44 | 5.75 | (0.33) | (7.35) | (7.68) |
Year Ended 2/28/2021 | $22.83 | 0.31 | 6.09 | 6.40 | (0.32) | (1.70) | (2.02) |
Year Ended 2/29/2020 | $23.23 | 0.33 | 0.32 | 0.65 | (0.29) | (0.76) | (1.05) |
Year Ended 2/28/2019 | $24.85 | 0.36 | 0.65 | 1.01 | (0.30) | (2.33) | (2.63) |
Year Ended 2/28/2018 | $23.58 | 0.37 | 4.13 | 4.50 | (0.38) | (2.85) | (3.23) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $27.53 | 0.32 | 5.49 | 5.81 | (0.33) | (7.35) | (7.68) |
Year Ended 2/28/2021 | $23.07 | 0.31 | 6.17 | 6.48 | (0.32) | (1.70) | (2.02) |
Year Ended 2/29/2020 | $23.47 | 0.32 | 0.33 | 0.65 | (0.29) | (0.76) | (1.05) |
Year Ended 2/28/2019 | $25.07 | 0.34 | 0.69 | 1.03 | (0.30) | (2.33) | (2.63) |
Year Ended 2/28/2018 | $23.77 | 0.38 | 4.15 | 4.53 | (0.38) | (2.85) | (3.23) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $27.40 | 0.36 | 5.48 | 5.84 | (0.38) | (7.35) | (7.73) |
Year Ended 2/28/2021 | $22.97 | 0.34 | 6.14 | 6.48 | (0.35) | (1.70) | (2.05) |
Year Ended 2/29/2020 | $23.37 | 0.35 | 0.32 | 0.67 | (0.31) | (0.76) | (1.07) |
Year Ended 2/28/2019 | $24.98 | 0.37 | 0.68 | 1.05 | (0.33) | (2.33) | (2.66) |
Year Ended 2/28/2018 | $23.69 | 0.40 | 4.14 | 4.54 | (0.40) | (2.85) | (3.25) |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $27.54 | 0.37 | 5.51 | 5.88 | (0.39) | (7.35) | (7.74) |
Year Ended 2/28/2021 | $23.08 | 0.35 | 6.17 | 6.52 | (0.36) | (1.70) | (2.06) |
Year Ended 2/29/2020 | $23.47 | 0.38 | 0.31 | 0.69 | (0.32) | (0.76) | (1.08) |
Year Ended 2/28/2019 | $25.07 | 0.38 | 0.69 | 1.07 | (0.34) | (2.33) | (2.67) |
Year Ended 2/28/2018 | $23.77 | 0.44 | 4.13 | 4.57 | (0.42) | (2.85) | (3.27) |
16 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
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 2/28/2022 | $25.71 | 20.15% | 1.23%(c) | 0.84%(c),(d) | 0.83% | 67% | $61,024 |
Year Ended 2/28/2021 | $27.58 | 29.53% | 1.25%(c) | 0.85%(c),(d) | 1.02% | 81% | $59,015 |
Year Ended 2/29/2020 | $23.11 | 2.33% | 1.20% | 0.88%(d) | 1.11% | 77% | $56,439 |
Year Ended 2/28/2019 | $23.52 | 4.14% | 1.21% | 0.89% | 1.17% | 99% | $75,497 |
Year Ended 2/28/2018 | $25.12 | 19.81% | 1.23% | 0.89% | 1.31% | 70% | $60,502 |
Advisor Class | |||||||
Year Ended 2/28/2022 | $25.28 | 20.50% | 0.98%(c) | 0.58%(c),(d) | 1.08% | 67% | $8,459 |
Year Ended 2/28/2021 | $27.21 | 29.79% | 1.00%(c) | 0.61%(c),(d) | 1.29% | 81% | $8,052 |
Year Ended 2/29/2020 | $22.83 | 2.60% | 0.95% | 0.63%(d) | 1.38% | 77% | $12,021 |
Year Ended 2/28/2019 | $23.23 | 4.38% | 0.96% | 0.64% | 1.53% | 99% | $5,222 |
Year Ended 2/28/2018 | $24.85 | 20.12% | 0.98% | 0.64% | 1.48% | 70% | $663 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $25.66 | 20.49% | 0.98%(c) | 0.59%(c),(d) | 1.08% | 67% | $88,028 |
Year Ended 2/28/2021 | $27.53 | 29.83% | 1.00%(c) | 0.60%(c),(d) | 1.27% | 81% | $86,219 |
Year Ended 2/29/2020 | $23.07 | 2.58% | 0.94% | 0.63%(d) | 1.34% | 77% | $97,348 |
Year Ended 2/28/2019 | $23.47 | 4.42% | 0.96% | 0.64% | 1.41% | 99% | $329,587 |
Year Ended 2/28/2018 | $25.07 | 20.08% | 0.98% | 0.64% | 1.56% | 70% | $260,985 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $25.51 | 20.67% | 0.85%(c) | 0.45%(c) | 1.21% | 67% | $6,628 |
Year Ended 2/28/2021 | $27.40 | 29.96% | 0.86%(c) | 0.48%(c) | 1.40% | 81% | $8,831 |
Year Ended 2/29/2020 | $22.97 | 2.66% | 0.85% | 0.54% | 1.46% | 77% | $11,538 |
Year Ended 2/28/2019 | $23.37 | 4.50% | 0.87% | 0.54% | 1.56% | 99% | $26,349 |
Year Ended 2/28/2018 | $24.98 | 20.20% | 0.87% | 0.55% | 1.63% | 70% | $11,486 |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $25.68 | 20.73% | 0.80%(c) | 0.40%(c) | 1.25% | 67% | $193,329 |
Year Ended 2/28/2021 | $27.54 | 30.01% | 0.81%(c) | 0.43%(c) | 1.44% | 81% | $266,693 |
Year Ended 2/29/2020 | $23.08 | 2.73% | 0.81% | 0.49% | 1.59% | 77% | $173,757 |
Year Ended 2/28/2019 | $23.47 | 4.58% | 0.81% | 0.49% | 1.61% | 99% | $55,689 |
Year Ended 2/28/2018 | $25.07 | 20.24% | 0.82% | 0.50% | 1.77% | 70% | $28,180 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R | |||||||
Year Ended 2/28/2022 | $27.50 | 0.17 | 5.47 | 5.64 | (0.18) | (7.35) | (7.53) |
Year Ended 2/28/2021 | $23.05 | 0.19 | 6.16 | 6.35 | (0.20) | (1.70) | (1.90) |
Year Ended 2/29/2020 | $23.48 | 0.21 | 0.31 | 0.52 | (0.19) | (0.76) | (0.95) |
Year Ended 2/28/2019 | $25.08 | 0.22 | 0.69 | 0.91 | (0.18) | (2.33) | (2.51) |
Year Ended 2/28/2018 | $23.78 | 0.26 | 4.15 | 4.41 | (0.26) | (2.85) | (3.11) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
18 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
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 | |||||||
Year Ended 2/28/2022 | $25.61 | 19.85% | 1.48%(c) | 1.09%(c),(d) | 0.57% | 67% | $51,549 |
Year Ended 2/28/2021 | $27.50 | 29.22% | 1.50%(c) | 1.10%(c),(d) | 0.77% | 81% | $58,775 |
Year Ended 2/29/2020 | $23.05 | 2.04% | 1.45% | 1.13%(d) | 0.86% | 77% | $51,362 |
Year Ended 2/28/2019 | $23.48 | 3.88% | 1.46% | 1.14% | 0.93% | 99% | $53,131 |
Year Ended 2/28/2018 | $25.08 | 19.51% | 1.48% | 1.14% | 1.06% | 70% | $38,251 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 19 |
February 28, 2022
20 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 21 |
February 28, 2022
22 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 1,440* |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 222,964* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Equity risk | 1,632,226 | |||||
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Equity risk | (369,858) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 6,742,090 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2022. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 23 |
February 28, 2022
24 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
Effective rate (%) | |
Class A | 0.19 |
Advisor Class | 0.19 |
Institutional Class | 0.19 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Class R | 0.19 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 25 |
February 28, 2022
Fee rate(s) contractual through June 30, 2022 | |
Class A | 0.84% |
Advisor Class | 0.59 |
Institutional Class | 0.59 |
Institutional 2 Class | 0.45 |
Institutional 3 Class | 0.40 |
Class R | 1.09 |
26 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(420,055) | (11,142,743) | 11,562,798 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
39,316,763 | 69,492,777 | 108,809,540 | 6,043,108 | 29,318,538 | 35,361,646 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
4,726,909 | 17,816,232 | — | 147,906,920 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
260,662,357 | 152,878,527 | (4,971,607) | 147,906,920 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 27 |
February 28, 2022
28 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
February 28, 2022
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 29 |
February 28, 2022
30 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 31 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
25.01% | 24.20% | 0.49% | $81,422,625 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
32 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 33 |
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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
34 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 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 |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | 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. |
36 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2022 | 37 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
38 | Columbia Large Cap Enhanced Core Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
February 28, 2022
3 | |
5 | |
7 | |
8 | |
18 | |
19 | |
20 | |
22 | |
24 | |
35 | |
36 | |
36 |
Average annual total returns (%) (for the period ended February 28, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 05/31/00 | 7.48 | 10.18 | 11.73 | |
Institutional Class | 03/31/00 | 7.72 | 10.45 | 12.01 | |
Institutional 2 Class* | 11/08/12 | 7.75 | 10.46 | 12.03 | |
Institutional 3 Class* | 03/01/17 | 7.78 | 10.46 | 12.02 | |
S&P MidCap 400 Index | 7.98 | 10.71 | 12.26 |
* | 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 Mid Cap Index Fund | Annual Report 2022 | 3 |
Portfolio breakdown (%) (at February 28, 2022) | |
Common Stocks | 98.7 |
Money Market Funds | 1.3 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2022) | |
Communication Services | 1.7 |
Consumer Discretionary | 15.0 |
Consumer Staples | 3.5 |
Energy | 2.7 |
Financials | 14.7 |
Health Care | 9.3 |
Industrials | 18.2 |
Information Technology | 14.4 |
Materials | 7.0 |
Real Estate | 10.1 |
Utilities | 3.4 |
Total | 100.0 |
4 | Columbia Mid Cap Index Fund | Annual Report 2022 |
• | Communication services, health care and information technology were the weakest sectors in terms of total return. |
• | On the basis of impact, health care, information technology and consumer discretionary were the weakest sectors. |
• | The worst performing industries for the annual period on the basis of total return were Internet and direct marketing retail; beverages; pharmaceuticals; multiline retail; and biotechnology. |
Columbia Mid Cap Index Fund | Annual Report 2022 | 5 |
• | Top individual detractors were residential solar energy systems company Sunrun Inc.; high-end alcoholic beverage company and craft brewer Boston Beer Company, Inc.-A; medical technology company Masimo Corp.; online and mobile platform for restaurant pick-up and delivery orders Grubhub, Inc.; and biotechnology company Arrowhead Pharmaceuticals, Inc. |
• | In terms of total return, the energy sector was the best relative performer, followed at some distance by the materials and real estate sectors. |
• | On the basis of impact, which takes weighting and total returns into account, the financials, real estate and materials sectors were the biggest contributors to the Index’s return. |
• | The top performing industries on the basis of total return were oil, gas and consumable fuels; metals and mining; air freight and logistics; paper and forest products; and real estate management and development. |
• | Top individual contributors within the S&P MidCap 400 Index during the annual period included multifamily apartment communities real estate investment trust Camden Property Trust; car rental company Avis Budget Group, Inc.; integrated financial data and software solutions provider Factset Research Systems, Inc.; building materials supplier and manufacturer Builders FirstSource, Inc; and steel producer and metal recycler Steel Dynamics, Inc. |
• | Industrials remained the largest sector by weighting in the S&P MidCap 400 Index, with a weighting of 18.46% as of February 28, 2022. |
• | Each sector and stock in the S&P MidCap 400 Index was represented in the Fund with approximately the same weighting as in the Index and therefore had a similar effect. |
6 | Columbia Mid Cap Index Fund | Annual Report 2022 |
(Unaudited)
September 1, 2021 — February 28, 2022 | |||||||
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 | 970.60 | 1,022.56 | 2.20 | 2.26 | 0.45 |
Institutional Class | 1,000.00 | 1,000.00 | 972.00 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 972.20 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 972.50 | 1,023.80 | 0.98 | 1.00 | 0.20 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 7 |
February 28, 2022
Common Stocks 98.7% | ||
Issuer | Shares | Value ($) |
Communication Services 1.7% | ||
Diversified Telecommunication Services 0.2% | ||
Iridium Communications, Inc.(a) | 169,569 | 6,713,237 |
Entertainment 0.1% | ||
World Wrestling Entertainment, Inc., Class A | 57,358 | 3,399,035 |
Interactive Media & Services 0.4% | ||
TripAdvisor, Inc.(a) | 127,048 | 3,232,101 |
Yelp, Inc.(a) | 88,035 | 2,983,506 |
Ziff Davis, Inc.(a) | 61,851 | 6,222,211 |
Total | 12,437,818 | |
Media 1.0% | ||
Cable One, Inc. | 6,358 | 9,110,060 |
John Wiley & Sons, Inc., Class A | 55,860 | 2,810,316 |
New York Times Co. (The), Class A | 214,324 | 9,428,113 |
TEGNA, Inc. | 283,827 | 6,505,315 |
Total | 27,853,804 | |
Total Communication Services | 50,403,894 | |
Consumer Discretionary 14.7% | ||
Auto Components 1.5% | ||
Adient PLC(a) | 120,849 | 5,407,993 |
Dana, Inc. | 185,002 | 3,444,737 |
Fox Factory Holding Corp.(a) | 54,005 | 6,373,670 |
Gentex Corp. | 303,373 | 9,183,101 |
Goodyear Tire & Rubber Co. (The)(a) | 360,400 | 5,582,596 |
Lear Corp. | 76,468 | 12,031,475 |
Visteon Corp.(a) | 35,910 | 4,315,305 |
Total | 46,338,877 | |
Automobiles 0.5% | ||
Harley-Davidson, Inc. | 197,371 | 8,151,422 |
Thor Industries, Inc. | 71,227 | 6,446,044 |
Total | 14,597,466 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Diversified Consumer Services 0.9% | ||
Graham Holdings Co., Class B | 5,117 | 3,075,982 |
Grand Canyon Education, Inc.(a) | 51,401 | 4,463,149 |
H&R Block, Inc. | 225,271 | 5,588,974 |
Service Corp. International | 211,525 | 12,871,296 |
Total | 25,999,401 | |
Hotels, Restaurants & Leisure 3.0% | ||
Boyd Gaming Corp.(a) | 105,194 | 7,462,462 |
Choice Hotels International, Inc. | 42,098 | 6,076,846 |
Churchill Downs, Inc. | 44,154 | 10,635,374 |
Cracker Barrel Old Country Store, Inc. | 30,158 | 4,049,315 |
Marriott Vacations Worldwide Corp. | 54,635 | 8,778,205 |
Papa John’s International, Inc. | 41,512 | 4,434,312 |
Scientific Games Corp.(a) | 123,791 | 7,788,930 |
Six Flags Entertainment Corp.(a) | 99,258 | 4,333,604 |
Texas Roadhouse, Inc. | 89,330 | 8,478,310 |
Travel + Leisure Co. | 110,690 | 6,204,175 |
Wendy’s Co. (The) | 226,398 | 5,148,291 |
Wingstop, Inc. | 38,256 | 5,560,510 |
Wyndham Hotels & Resorts, Inc. | 119,515 | 10,327,291 |
Total | 89,277,625 | |
Household Durables 1.6% | ||
Helen of Troy Ltd.(a) | 30,948 | 6,365,075 |
KB Home | 109,932 | 4,244,475 |
Leggett & Platt, Inc. | 171,076 | 6,343,498 |
Taylor Morrison Home Corp., Class A(a) | 157,627 | 4,649,997 |
Tempur Sealy International, Inc. | 246,924 | 8,150,961 |
Toll Brothers, Inc. | 146,753 | 7,962,818 |
TopBuild Corp.(a) | 42,231 | 9,066,151 |
Tri Pointe Homes, Inc.(a) | 142,552 | 3,188,888 |
Total | 49,971,863 |
8 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Leisure Products 1.3% | ||
Brunswick Corp. | 98,886 | 9,445,591 |
Callaway Golf Co.(a) | 150,313 | 3,718,743 |
Mattel, Inc.(a) | 449,366 | 11,225,163 |
Polaris, Inc. | 73,164 | 8,890,157 |
YETI Holdings, Inc.(a) | 112,414 | 6,920,206 |
Total | 40,199,860 | |
Multiline Retail 0.9% | ||
Kohl’s Corp. | 193,083 | 10,739,276 |
Macy’s, Inc. | 397,244 | 10,296,564 |
Nordstrom, Inc.(a) | 142,690 | 2,959,391 |
Ollie’s Bargain Outlet Holdings, Inc.(a) | 77,621 | 3,351,675 |
Total | 27,346,906 | |
Specialty Retail 3.2% | ||
American Eagle Outfitters, Inc. | 196,789 | 4,148,312 |
AutoNation, Inc.(a) | 51,278 | 5,879,535 |
Dick’s Sporting Goods, Inc. | 83,234 | 8,739,570 |
Five Below, Inc.(a) | 71,857 | 11,756,524 |
Foot Locker, Inc. | 115,840 | 3,662,861 |
GameStop Corp., Class A(a) | 79,470 | 9,801,830 |
Gap, Inc. (The) | 274,975 | 4,000,886 |
Lithia Motors, Inc., Class A | 38,839 | 13,237,108 |
Murphy U.S.A., Inc. | 30,248 | 5,467,023 |
Restoration Hardware Holdings, Inc.(a) | 22,248 | 8,940,804 |
Urban Outfitters, Inc.(a) | 84,532 | 2,325,475 |
Victoria’s Secret & Co.(a) | 92,931 | 4,983,890 |
Williams-Sonoma, Inc. | 95,386 | 13,817,616 |
Total | 96,761,434 | |
Textiles, Apparel & Luxury Goods 1.8% | ||
Capri Holdings Ltd.(a) | 192,987 | 13,072,939 |
Carter’s, Inc. | 54,213 | 5,241,313 |
Columbia Sportswear Co. | 44,335 | 4,110,741 |
Crocs, Inc.(a) | 75,480 | 6,319,941 |
Deckers Outdoor Corp.(a) | 35,206 | 10,161,860 |
Hanesbrands, Inc. | 447,909 | 6,920,194 |
Skechers U.S.A., Inc., Class A(a) | 173,034 | 7,956,103 |
Total | 53,783,091 | |
Total Consumer Discretionary | 444,276,523 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Consumer Staples 3.5% | ||
Beverages 0.2% | ||
Boston Beer Co., Inc. (The), Class A(a) | 12,041 | 4,617,242 |
Food & Staples Retailing 1.3% | ||
BJ’s Wholesale Club Holdings, Inc.(a) | 175,139 | 11,010,989 |
Casey’s General Stores, Inc. | 47,589 | 8,950,539 |
Grocery Outlet Holding Corp.(a) | 112,072 | 3,116,722 |
Performance Food Group, Inc.(a) | 197,933 | 11,092,165 |
Sprouts Farmers Market, Inc.(a) | 143,989 | 4,100,807 |
Total | 38,271,222 | |
Food Products 1.7% | ||
Darling Ingredients, Inc.(a) | 207,544 | 15,042,789 |
Flowers Foods, Inc. | 254,878 | 6,986,206 |
Hain Celestial Group, Inc. (The)(a) | 119,134 | 4,331,712 |
Ingredion, Inc. | 85,343 | 7,573,338 |
Lancaster Colony Corp. | 25,424 | 4,276,571 |
Pilgrim’s Pride Corp.(a) | 62,510 | 1,473,986 |
Post Holdings, Inc.(a) | 75,086 | 7,894,542 |
Sanderson Farms, Inc. | 27,210 | 4,859,434 |
Total | 52,438,578 | |
Household Products 0.1% | ||
Energizer Holdings, Inc. | 80,682 | 2,693,972 |
Personal Products 0.2% | ||
Coty, Inc., Class A(a) | 430,427 | 3,947,016 |
Nu Skin Enterprises, Inc., Class A | 63,906 | 2,964,599 |
Total | 6,911,615 | |
Total Consumer Staples | 104,932,629 | |
Energy 2.7% | ||
Energy Equipment & Services 0.5% | ||
ChampionX Corp.(a) | 259,186 | 5,549,172 |
NOV, Inc. | 501,122 | 8,594,243 |
Total | 14,143,415 | |
Oil, Gas & Consumable Fuels 2.2% | ||
Antero Midstream Corp. | 416,481 | 4,181,469 |
CNX Resources Corp.(a) | 270,896 | 4,426,441 |
DT Midstream, Inc. | 124,074 | 6,588,330 |
EQT Corp. | 387,822 | 8,974,201 |
Equitrans Midstream Corp. | 521,464 | 3,342,584 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 9 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
HollyFrontier Corp.(a) | 191,752 | 5,838,848 |
Murphy Oil Corp. | 186,230 | 6,456,594 |
PDC Energy, Inc. | 124,906 | 8,058,935 |
Targa Resources Corp. | 293,692 | 19,198,646 |
Total | 67,066,048 | |
Total Energy | 81,209,463 | |
Financials 14.5% | ||
Banks 7.1% | ||
Associated Banc-Corp. | 192,493 | 4,694,904 |
Bank of Hawaii Corp. | 51,919 | 4,474,379 |
Bank OZK | 155,053 | 7,290,592 |
Cadence Bank | 251,331 | 7,947,086 |
Cathay General Bancorp | 99,050 | 4,658,322 |
Commerce Bancshares, Inc. | 142,377 | 10,219,821 |
Cullen/Frost Bankers, Inc. | 72,735 | 10,235,997 |
East West Bancorp, Inc. | 182,017 | 15,937,409 |
First Financial Bankshares, Inc. | 164,469 | 7,881,354 |
First Horizon Corp. | 693,595 | 16,285,611 |
FNB Corp. | 434,409 | 5,834,113 |
Fulton Financial Corp. | 206,897 | 3,728,284 |
Glacier Bancorp, Inc. | 139,134 | 7,708,024 |
Hancock Whitney Corp. | 111,368 | 6,200,970 |
Home Bancshares, Inc. | 193,344 | 4,526,183 |
International Bancshares Corp. | 68,273 | 2,936,422 |
Old National Bancorp | 378,672 | 6,922,124 |
PacWest Bancorp | 150,401 | 7,432,817 |
Pinnacle Financial Partners, Inc. | 97,656 | 9,871,068 |
Prosperity Bancshares, Inc. | 118,216 | 8,802,363 |
Synovus Financial Corp. | 186,640 | 9,826,596 |
Texas Capital Bancshares, Inc.(a) | 64,913 | 4,323,206 |
UMB Financial Corp. | 55,205 | 5,623,181 |
Umpqua Holdings Corp. | 277,851 | 5,932,119 |
United Bankshares, Inc. | 174,860 | 6,403,373 |
Valley National Bancorp | 521,981 | 7,292,075 |
Webster Financial Corp. | 230,633 | 13,886,413 |
Wintrust Financial Corp. | 73,120 | 7,265,203 |
Total | 214,140,009 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Capital Markets 2.0% | ||
Affiliated Managers Group, Inc. | 52,141 | 7,214,229 |
Evercore, Inc., Class A | 50,048 | 6,356,596 |
Federated Hermes, Inc., Class B | 124,217 | 4,058,169 |
Interactive Brokers Group, Inc., Class A | 112,071 | 7,416,859 |
Janus Henderson Group PLC | 218,801 | 7,345,150 |
Jefferies Financial Group, Inc. | 251,976 | 8,955,227 |
SEI Investments Co. | 135,941 | 7,963,424 |
Stifel Financial Corp. | 133,538 | 9,815,043 |
Total | 59,124,697 | |
Consumer Finance 0.6% | ||
FirstCash Holdings, Inc. | 51,862 | 3,736,138 |
Navient Corp. | 206,728 | 3,640,480 |
PROG Holdings, Inc.(a) | 72,750 | 2,229,060 |
SLM Corp. | 376,044 | 7,408,067 |
Total | 17,013,745 | |
Diversified Financial Services 0.3% | ||
Voya Financial, Inc. | 142,368 | 9,588,485 |
Insurance 3.8% | ||
Alleghany Corp.(a) | 17,571 | 11,630,596 |
American Financial Group, Inc. | 84,848 | 11,487,571 |
Brighthouse Financial, Inc.(a) | 102,380 | 5,350,379 |
CNO Financial Group, Inc. | 158,168 | 3,822,921 |
First American Financial Corp. | 140,793 | 9,438,763 |
Hanover Insurance Group, Inc. (The) | 45,637 | 6,366,818 |
Kemper Corp. | 76,746 | 4,101,306 |
Kinsale Capital Group, Inc. | 27,513 | 5,771,127 |
Mercury General Corp. | 34,090 | 1,874,950 |
Old Republic International Corp. | 366,221 | 9,649,923 |
Primerica, Inc. | 50,652 | 6,579,188 |
Reinsurance Group of America, Inc. | 86,707 | 9,612,338 |
RenaissanceRe Holdings Ltd. | 59,028 | 8,900,242 |
RLI Corp. | 51,070 | 5,183,605 |
Selective Insurance Group, Inc. | 77,118 | 6,415,446 |
Unum Group | 262,242 | 7,321,797 |
Total | 113,506,970 |
10 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Thrifts & Mortgage Finance 0.7% | ||
Essent Group Ltd. | 141,646 | 6,257,920 |
MGIC Investment Corp. | 417,610 | 6,339,320 |
New York Community Bancorp, Inc. | 596,461 | 6,883,160 |
Washington Federal, Inc. | 83,558 | 2,972,994 |
Total | 22,453,394 | |
Total Financials | 435,827,300 | |
Health Care 9.2% | ||
Biotechnology 1.4% | ||
Arrowhead Pharmaceuticals, Inc.(a) | 133,728 | 5,884,032 |
Exelixis, Inc.(a) | 405,828 | 8,331,649 |
Halozyme Therapeutics, Inc.(a) | 180,581 | 6,405,208 |
Neurocrine Biosciences, Inc.(a) | 121,681 | 10,935,472 |
United Therapeutics Corp.(a) | 57,767 | 9,600,875 |
Total | 41,157,236 | |
Health Care Equipment & Supplies 2.9% | ||
Envista Holdings Corp.(a) | 206,979 | 9,934,992 |
Globus Medical, Inc., Class A(a) | 101,382 | 7,129,182 |
Haemonetics Corp.(a) | 65,550 | 3,782,890 |
ICU Medical, Inc.(a) | 25,608 | 6,062,182 |
Integra LifeSciences Holdings Corp.(a) | 93,431 | 6,265,483 |
LivaNova PLC(a) | 68,269 | 5,380,963 |
Masimo Corp.(a) | 65,164 | 10,260,072 |
Neogen Corp.(a) | 137,876 | 4,922,173 |
NuVasive, Inc.(a) | 66,359 | 3,591,349 |
Penumbra, Inc.(a) | 45,044 | 9,988,057 |
Quidel Corp.(a) | 48,644 | 5,146,049 |
STAAR Surgical Co.(a) | 61,054 | 4,842,803 |
Tandem Diabetes Care, Inc.(a) | 81,491 | 9,178,331 |
Total | 86,484,526 | |
Health Care Providers & Services 3.1% | ||
Acadia Healthcare Co., Inc.(a) | 115,357 | 6,541,896 |
Amedisys, Inc.(a) | 41,817 | 6,700,756 |
Chemed Corp. | 19,746 | 9,444,314 |
Encompass Health Corp. | 127,614 | 8,425,076 |
HealthEquity, Inc.(a) | 107,113 | 5,753,039 |
LHC Group, Inc.(a) | 40,623 | 5,531,634 |
Molina Healthcare, Inc.(a) | 74,907 | 22,986,711 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Option Care Health, Inc.(a) | 177,652 | 4,565,656 |
Patterson Companies, Inc. | 111,099 | 3,321,860 |
Progyny, Inc.(a) | 89,313 | 3,515,360 |
R1 RCM, Inc.(a) | 170,913 | 4,647,125 |
Tenet Healthcare Corp.(a) | 137,406 | 11,815,542 |
Total | 93,248,969 | |
Life Sciences Tools & Services 1.3% | ||
Bruker Corp. | 130,329 | 9,171,252 |
Medpace Holdings, Inc.(a) | 36,878 | 5,641,228 |
Repligen Corp.(a) | 65,952 | 12,972,758 |
Syneos Health, Inc.(a) | 133,001 | 10,533,679 |
Total | 38,318,917 | |
Pharmaceuticals 0.5% | ||
Jazz Pharmaceuticals PLC(a) | 78,845 | 10,834,880 |
Perrigo Co. PLC | 171,586 | 6,094,734 |
Total | 16,929,614 | |
Total Health Care | 276,139,262 | |
Industrials 18.0% | ||
Aerospace & Defense 1.3% | ||
Axon Enterprise, Inc.(a) | 84,240 | 11,814,660 |
Curtiss-Wright Corp. | 50,331 | 7,424,829 |
Hexcel Corp. | 107,607 | 6,230,445 |
Mercury Systems, Inc.(a) | 72,657 | 4,375,405 |
Woodward, Inc. | 80,864 | 10,078,080 |
Total | 39,923,419 | |
Air Freight & Logistics 0.4% | ||
GXO Logistics, Inc.(a) | 126,461 | 10,613,872 |
Airlines 0.2% | ||
JetBlue Airways Corp.(a) | 407,924 | 6,228,999 |
Building Products 2.6% | ||
Builders FirstSource, Inc.(a) | 245,629 | 18,279,710 |
Carlisle Companies, Inc. | 67,064 | 15,920,994 |
Lennox International, Inc. | 43,177 | 11,525,237 |
Owens Corning | 128,890 | 12,011,259 |
Simpson Manufacturing Co., Inc. | 55,718 | 6,603,140 |
Trex Company, Inc.(a) | 147,655 | 13,560,635 |
Total | 77,900,975 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 11 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Commercial Services & Supplies 1.5% | ||
Brink’s Co. (The) | 63,048 | 4,417,143 |
Clean Harbors, Inc.(a) | 64,208 | 6,127,369 |
IAA, Inc.(a) | 172,961 | 6,354,587 |
MillerKnoll, Inc. | 97,192 | 3,778,825 |
MSA Safety, Inc. | 46,769 | 6,505,568 |
Stericycle, Inc.(a) | 117,828 | 6,876,442 |
Tetra Tech, Inc. | 69,354 | 11,011,335 |
Total | 45,071,269 | |
Construction & Engineering 1.3% | ||
AECOM | 184,782 | 13,426,260 |
Dycom Industries, Inc.(a) | 38,699 | 3,369,135 |
EMCOR Group, Inc. | 68,460 | 7,909,869 |
Fluor Corp.(a) | 181,383 | 3,928,756 |
MasTec, Inc.(a) | 73,386 | 5,779,881 |
Valmont Industries, Inc. | 27,223 | 5,892,418 |
Total | 40,306,319 | |
Electrical Equipment 1.8% | ||
Acuity Brands, Inc. | 44,797 | 8,169,629 |
EnerSys | 53,732 | 3,907,928 |
Hubbell, Inc. | 69,790 | 12,440,068 |
nVent Electric PLC | 215,790 | 7,321,755 |
Regal Rexnord Corp. | 86,911 | 13,936,179 |
Sunrun, Inc.(a) | 265,516 | 7,243,276 |
Vicor Corp.(a) | 27,509 | 2,056,848 |
Total | 55,075,683 | |
Machinery 4.3% | ||
AGCO Corp. | 78,709 | 9,457,673 |
Colfax Corp.(a) | 172,723 | 6,945,192 |
Crane Co. | 64,027 | 6,471,849 |
Donaldson Co., Inc. | 158,530 | 8,603,423 |
Flowserve Corp. | 167,089 | 5,074,493 |
Graco, Inc. | 218,007 | 15,716,125 |
ITT, Inc. | 109,795 | 9,647,687 |
Kennametal, Inc. | 107,288 | 3,402,103 |
Lincoln Electric Holdings, Inc. | 75,738 | 9,653,566 |
Middleby Corp. (The)(a) | 71,349 | 12,673,009 |
Oshkosh Corp. | 88,036 | 9,775,517 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Terex Corp. | 89,529 | 3,695,757 |
Timken Co. (The) | 88,545 | 5,805,010 |
Toro Co. (The) | 136,532 | 12,808,067 |
Trinity Industries, Inc. | 104,911 | 3,027,731 |
Watts Water Technologies, Inc., Class A | 35,347 | 5,088,201 |
Total | 127,845,403 | |
Marine 0.2% | ||
Kirby Corp.(a) | 77,102 | 5,023,195 |
Professional Services 1.6% | ||
ASGN, Inc.(a) | 66,826 | 7,403,652 |
CACI International, Inc., Class A(a) | 29,920 | 8,371,317 |
FTI Consulting, Inc.(a) | 43,980 | 6,421,080 |
Insperity, Inc. | 45,928 | 4,131,224 |
KBR, Inc. | 179,937 | 8,932,073 |
ManpowerGroup, Inc. | 69,571 | 7,394,006 |
Science Applications International Corp. | 73,837 | 6,474,766 |
Total | 49,128,118 | |
Road & Rail 1.9% | ||
Avis Budget Group, Inc.(a) | 51,406 | 9,429,917 |
Knight-Swift Transportation Holdings, Inc. | 212,865 | 11,596,885 |
Landstar System, Inc. | 48,881 | 7,547,715 |
Ryder System, Inc. | 68,870 | 5,429,711 |
Saia, Inc.(a) | 33,781 | 9,702,917 |
Werner Enterprises, Inc. | 78,068 | 3,392,835 |
XPO Logistics, Inc.(a) | 126,536 | 9,196,636 |
Total | 56,296,616 | |
Trading Companies & Distributors 0.9% | ||
GATX Corp. | 45,534 | 4,855,290 |
MSC Industrial Direct Co., Inc., Class A | 60,054 | 4,652,984 |
Univar, Inc.(a) | 219,280 | 6,734,089 |
Watsco, Inc. | 42,361 | 11,567,095 |
Total | 27,809,458 | |
Total Industrials | 541,223,326 |
12 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Information Technology 14.2% | ||
Communications Equipment 1.0% | ||
Calix, Inc.(a) | 70,328 | 3,821,624 |
Ciena Corp.(a) | 198,720 | 13,596,422 |
Lumentum Holdings, Inc.(a) | 92,736 | 9,167,881 |
Viasat, Inc.(a) | 94,203 | 4,299,425 |
Total | 30,885,352 | |
Electronic Equipment, Instruments & Components 3.1% | ||
Arrow Electronics, Inc.(a) | 89,310 | 10,885,103 |
Avnet, Inc. | 127,267 | 5,354,123 |
Belden, Inc. | 57,589 | 3,245,140 |
Cognex Corp. | 226,772 | 15,320,716 |
Coherent, Inc.(a) | 31,470 | 8,318,150 |
II-VI, Inc.(a) | 136,141 | 9,456,354 |
Jabil, Inc. | 183,849 | 10,628,311 |
Littelfuse, Inc. | 31,594 | 8,157,887 |
National Instruments Corp. | 169,159 | 6,791,734 |
TD SYNNEX Corp. | 52,952 | 5,392,102 |
Vishay Intertechnology, Inc. | 170,222 | 3,266,560 |
Vontier Corp. | 216,845 | 5,269,333 |
Total | 92,085,513 | |
IT Services 2.3% | ||
Alliance Data Systems Corp. | 63,857 | 4,307,155 |
Concentrix Corp. | 55,029 | 10,999,747 |
Euronet Worldwide, Inc.(a) | 67,796 | 8,693,481 |
Genpact Ltd. | 221,915 | 9,284,924 |
Kyndryl Holdings, Inc.(a) | 229,769 | 3,644,136 |
LiveRamp Holdings, Inc.(a) | 87,340 | 3,769,594 |
MAXIMUS, Inc. | 78,847 | 6,217,874 |
Sabre Corp.(a) | 414,858 | 4,534,398 |
Western Union Co. (The) | 515,636 | 9,374,263 |
WEX, Inc.(a) | 57,487 | 9,687,134 |
Total | 70,512,706 | |
Semiconductors & Semiconductor Equipment 3.9% | ||
Amkor Technology, Inc. | 128,593 | 2,915,203 |
Azenta, Inc. | 95,361 | 8,345,995 |
Cirrus Logic, Inc.(a) | 73,286 | 6,366,355 |
CMC Materials, Inc. | 36,459 | 6,760,592 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
First Solar, Inc.(a) | 126,834 | 9,549,332 |
Lattice Semiconductor Corp.(a) | 175,647 | 10,999,015 |
MKS Instruments, Inc. | 71,135 | 10,712,931 |
Power Integrations, Inc. | 77,385 | 6,964,650 |
Semtech Corp.(a) | 82,599 | 5,730,719 |
Silicon Laboratories, Inc.(a) | 51,546 | 7,923,136 |
SiTime Corp.(a) | 19,224 | 3,885,939 |
SunPower Corp.(a) | 106,504 | 1,909,617 |
Synaptics, Inc.(a),(b) | 50,371 | 11,506,247 |
Universal Display Corp. | 55,611 | 8,614,700 |
Wolfspeed, Inc.(a) | 148,648 | 15,269,123 |
Total | 117,453,554 | |
Software 3.8% | ||
ACI Worldwide, Inc.(a) | 150,796 | 5,054,682 |
Aspen Technology, Inc.(a) | 85,834 | 13,081,960 |
Blackbaud, Inc.(a) | 53,143 | 3,320,906 |
CDK Global, Inc. | 151,783 | 6,881,841 |
Cerence, Inc.(a) | 48,749 | 1,760,327 |
CommVault Systems, Inc.(a) | 58,372 | 3,672,183 |
Digital Turbine, Inc.(a) | 112,783 | 5,467,720 |
Envestnet, Inc.(a) | 70,089 | 5,244,059 |
Fair Isaac Corp.(a) | 35,091 | 16,534,528 |
Manhattan Associates, Inc.(a) | 81,169 | 10,850,672 |
Mimecast Ltd.(a) | 79,200 | 6,298,776 |
NCR Corp.(a) | 169,310 | 6,860,441 |
Paylocity Holding Corp.(a) | 50,817 | 10,795,564 |
Qualys, Inc.(a) | 42,826 | 5,366,526 |
SailPoint Technologies Holdings, Inc.(a) | 119,625 | 4,948,886 |
Teradata Corp.(a) | 139,168 | 6,957,008 |
Total | 113,096,079 | |
Technology Hardware, Storage & Peripherals 0.1% | ||
Xerox Holdings Corp. | 176,306 | 3,474,991 |
Total Information Technology | 427,508,195 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 13 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Materials 6.9% | ||
Chemicals 2.5% | ||
Ashland Global Holdings, Inc. | 72,446 | 6,685,317 |
Avient Corp. | 117,351 | 6,148,019 |
Cabot Corp. | 72,761 | 5,323,195 |
Chemours Co. LLC (The) | 209,022 | 5,769,007 |
Ingevity Corp.(a) | 50,390 | 3,438,110 |
Minerals Technologies, Inc. | 42,703 | 2,988,783 |
NewMarket Corp. | 8,861 | 2,815,671 |
Olin Corp. | 183,983 | 9,476,964 |
RPM International, Inc. | 166,381 | 14,070,841 |
Scotts Miracle-Gro Co. (The), Class A | 52,249 | 7,317,995 |
Sensient Technologies Corp. | 53,905 | 4,427,218 |
Valvoline, Inc. | 231,854 | 7,495,840 |
Total | 75,956,960 | |
Construction Materials 0.2% | ||
Eagle Materials, Inc. | 52,171 | 7,138,558 |
Containers & Packaging 0.8% | ||
AptarGroup, Inc. | 84,433 | 10,290,694 |
Greif, Inc., Class A | 34,056 | 1,957,879 |
Silgan Holdings, Inc. | 107,629 | 4,507,503 |
Sonoco Products Co. | 126,118 | 7,405,649 |
Total | 24,161,725 | |
Metals & Mining 3.1% | ||
Alcoa Corp. | 239,988 | 18,080,696 |
Cleveland-Cliffs, Inc.(a) | 583,713 | 13,051,823 |
Commercial Metals Co. | 154,676 | 5,962,760 |
Reliance Steel & Aluminum Co. | 80,365 | 15,339,267 |
Royal Gold, Inc. | 84,190 | 10,208,879 |
Steel Dynamics, Inc. | 241,817 | 17,067,444 |
United States Steel Corp. | 346,615 | 9,431,394 |
Worthington Industries, Inc. | 41,492 | 2,365,874 |
Total | 91,508,137 | |
Paper & Forest Products 0.3% | ||
Louisiana-Pacific Corp. | 112,859 | 8,120,205 |
Total Materials | 206,885,585 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate 10.0% | ||
Equity Real Estate Investment Trusts (REITS) 9.5% | ||
American Campus Communities, Inc. | 178,490 | 9,604,547 |
Apartment Income REIT Corp. | 201,357 | 10,392,035 |
Brixmor Property Group, Inc. | 380,933 | 9,569,037 |
Camden Property Trust | 131,083 | 21,643,114 |
Corporate Office Properties Trust | 144,074 | 3,776,180 |
Cousins Properties, Inc. | 190,715 | 7,367,320 |
CyrusOne, Inc. | 162,784 | 14,707,534 |
Douglas Emmett, Inc. | 225,088 | 7,135,290 |
EastGroup Properties, Inc. | 52,183 | 9,954,429 |
EPR Properties | 95,949 | 4,778,260 |
First Industrial Realty Trust, Inc. | 167,117 | 9,622,597 |
Healthcare Realty Trust, Inc. | 189,245 | 4,935,510 |
Highwoods Properties, Inc. | 133,887 | 5,837,473 |
Hudson Pacific Properties, Inc. | 195,576 | 5,163,206 |
JBG SMITH Properties | 146,425 | 3,906,619 |
Kilroy Realty Corp. | 134,442 | 9,628,736 |
Kite Realty Group Trust | 280,924 | 6,160,663 |
Lamar Advertising Co., Class A | 111,359 | 12,144,812 |
Life Storage, Inc. | 105,205 | 13,317,901 |
Macerich Co. (The) | 273,254 | 4,180,786 |
Medical Properties Trust, Inc. | 764,846 | 15,556,968 |
National Retail Properties, Inc. | 225,256 | 9,598,158 |
National Storage Affiliates Trust | 105,105 | 6,124,468 |
Omega Healthcare Investors, Inc. | 306,521 | 8,634,697 |
Park Hotels & Resorts, Inc.(a) | 303,321 | 5,714,568 |
Pebblebrook Hotel Trust | 168,519 | 3,793,363 |
Physicians Realty Trust | 282,554 | 4,594,328 |
PotlatchDeltic Corp. | 86,067 | 4,725,078 |
PS Business Parks, Inc. | 25,797 | 4,109,204 |
Rayonier, Inc. | 183,614 | 7,289,476 |
Rexford Industrial Realty, Inc. | 194,305 | 13,626,610 |
Sabra Health Care REIT, Inc. | 293,315 | 3,939,220 |
SL Green Realty Corp. | 85,588 | 6,805,958 |
Spirit Realty Capital, Inc. | 158,172 | 7,334,436 |
STORE Capital Corp. | 314,772 | 9,669,796 |
Total | 285,342,377 |
14 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate Management & Development 0.5% | ||
Jones Lang LaSalle, Inc.(a) | 64,733 | 15,938,559 |
Total Real Estate | 301,280,936 | |
Utilities 3.3% | ||
Electric Utilities 1.0% | ||
Allete, Inc. | 67,432 | 4,244,170 |
Hawaiian Electric Industries, Inc. | 140,208 | 5,745,724 |
IDACORP, Inc. | 64,795 | 6,735,440 |
OGE Energy Corp. | 256,755 | 9,641,150 |
PNM Resources, Inc. | 110,097 | 4,973,082 |
Total | 31,339,566 | |
Gas Utilities 1.3% | ||
National Fuel Gas Co. | 116,955 | 7,279,279 |
New Jersey Resources Corp. | 123,691 | 5,395,401 |
ONE Gas, Inc. | 68,735 | 5,711,191 |
Southwest Gas Holdings, Inc. | 77,453 | 5,494,516 |
Spire, Inc. | 66,293 | 4,448,923 |
UGI Corp. | 268,199 | 10,309,570 |
Total | 38,638,880 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Multi-Utilities 0.5% | ||
Black Hills Corp. | 81,859 | 5,729,311 |
MDU Resources Group, Inc. | 260,829 | 6,982,392 |
NorthWestern Corp. | 67,537 | 4,084,638 |
Total | 16,796,341 | |
Water Utilities 0.5% | ||
Essential Utilities, Inc. | 295,005 | 13,897,686 |
Total Utilities | 100,672,473 | |
Total Common Stocks (Cost $1,795,874,299) | 2,970,359,586 | |
Money Market Funds 1.3% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.168%(c),(d) | 38,066,084 | 38,054,664 |
Total Money Market Funds (Cost $38,053,968) | 38,054,664 | |
Total Investments in Securities (Cost: $1,833,928,267) | 3,008,414,250 | |
Other Assets & Liabilities, Net | (696,053) | |
Net Assets | 3,007,718,197 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P Mid 400 Index E-mini | 152 | 03/2022 | USD | 40,401,600 | 501,077 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at February 28, 2022. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.168% | ||||||||
42,608,964 | 561,500,214 | (566,055,203) | 689 | 38,054,664 | (5,487) | 20,181 | 38,066,084 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 15 |
February 28, 2022
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 50,403,894 | — | — | 50,403,894 |
Consumer Discretionary | 444,276,523 | — | — | 444,276,523 |
Consumer Staples | 104,932,629 | — | — | 104,932,629 |
Energy | 81,209,463 | — | — | 81,209,463 |
Financials | 435,827,300 | — | — | 435,827,300 |
Health Care | 276,139,262 | — | — | 276,139,262 |
Industrials | 541,223,326 | — | — | 541,223,326 |
Information Technology | 427,508,195 | — | — | 427,508,195 |
Materials | 206,885,585 | — | — | 206,885,585 |
Real Estate | 301,280,936 | — | — | 301,280,936 |
Utilities | 100,672,473 | — | — | 100,672,473 |
Total Common Stocks | 2,970,359,586 | — | — | 2,970,359,586 |
Money Market Funds | 38,054,664 | — | — | 38,054,664 |
Total Investments in Securities | 3,008,414,250 | — | — | 3,008,414,250 |
16 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 501,077 | — | — | 501,077 |
Total | 3,008,915,327 | — | — | 3,008,915,327 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 17 |
February 28, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,795,874,299) | $2,970,359,586 |
Affiliated issuers (cost $38,053,968) | 38,054,664 |
Receivable for: | |
Capital shares sold | 2,358,424 |
Dividends | 2,157,745 |
Foreign tax reclaims | 11,153 |
Expense reimbursement due from Investment Manager | 23,167 |
Prepaid expenses | 26,205 |
Total assets | 3,012,990,944 |
Liabilities | |
Payable for: | |
Capital shares purchased | 4,464,467 |
Variation margin for futures contracts | 58,400 |
Management services fees | 49,506 |
Distribution and/or service fees | 15,817 |
Transfer agent fees | 324,668 |
Compensation of board members | 297,296 |
Compensation of chief compliance officer | 502 |
Other expenses | 62,091 |
Total liabilities | 5,272,747 |
Net assets applicable to outstanding capital stock | $3,007,718,197 |
Represented by | |
Paid in capital | 1,708,481,438 |
Total distributable earnings (loss) | 1,299,236,759 |
Total - representing net assets applicable to outstanding capital stock | $3,007,718,197 |
Class A | |
Net assets | $768,486,587 |
Shares outstanding | 47,631,002 |
Net asset value per share | $16.13 |
Institutional Class | |
Net assets | $1,534,549,667 |
Shares outstanding | 95,716,345 |
Net asset value per share | $16.03 |
Institutional 2 Class | |
Net assets | $634,732,233 |
Shares outstanding | 38,426,461 |
Net asset value per share | $16.52 |
Institutional 3 Class | |
Net assets | $69,949,710 |
Shares outstanding | 4,476,639 |
Net asset value per share | $15.63 |
18 | Columbia Mid Cap Index Fund | Annual Report 2022 |
Year Ended February 28, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $41,562,040 |
Dividends — affiliated issuers | 20,181 |
Total income | 41,582,221 |
Expenses: | |
Management services fees | 6,746,461 |
Distribution and/or service fees | |
Class A | 2,147,729 |
Transfer agent fees | |
Class A | 970,748 |
Institutional Class | 1,891,268 |
Institutional 2 Class | 442,114 |
Institutional 3 Class | 6,183 |
Compensation of board members | 94,246 |
Custodian fees | 37,305 |
Printing and postage fees | 81,194 |
Registration fees | 83,517 |
Licensing fees and expenses | 35,084 |
Audit fees | 32,250 |
Legal fees | 47,183 |
Interest on collateral | 432 |
Interest on interfund lending | 58 |
Compensation of chief compliance officer | 478 |
Other | 53,912 |
Total expenses | 12,670,162 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (3,771,140) |
Expense reduction | (60) |
Total net expenses | 8,898,962 |
Net investment income | 32,683,259 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 519,362,482 |
Investments — affiliated issuers | (5,487) |
Futures contracts | 3,191,852 |
Net realized gain | 522,548,847 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (282,619,796) |
Investments — affiliated issuers | 689 |
Futures contracts | 746,083 |
Net change in unrealized appreciation (depreciation) | (281,873,024) |
Net realized and unrealized gain | 240,675,823 |
Net increase in net assets resulting from operations | $273,359,082 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 19 |
Year Ended February 28, 2022 | Year Ended February 28, 2021 | |
Operations | ||
Net investment income | $32,683,259 | $35,814,864 |
Net realized gain | 522,548,847 | 339,867,522 |
Net change in unrealized appreciation (depreciation) | (281,873,024) | 655,182,551 |
Net increase in net assets resulting from operations | 273,359,082 | 1,030,864,937 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (135,070,252) | (88,045,504) |
Institutional Class | (273,707,103) | (151,169,164) |
Institutional 2 Class | (116,221,827) | (70,141,704) |
Institutional 3 Class | (12,289,676) | (4,906,518) |
Total distributions to shareholders | (537,288,858) | (314,262,890) |
Decrease in net assets from capital stock activity | (180,940,391) | (531,088,162) |
Total increase (decrease) in net assets | (444,870,167) | 185,513,885 |
Net assets at beginning of year | 3,452,588,364 | 3,267,074,479 |
Net assets at end of year | $3,007,718,197 | $3,452,588,364 |
Year Ended | Year Ended | |||
February 28, 2022 | February 28, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 10,500,248 | 189,096,084 | 14,672,411 | 203,619,796 |
Distributions reinvested | 5,983,974 | 104,160,218 | 4,814,076 | 70,385,948 |
Redemptions | (19,766,784) | (360,095,460) | (38,633,224) | (554,500,739) |
Net decrease | (3,282,562) | (66,839,158) | (19,146,737) | (280,494,995) |
Institutional Class | ||||
Subscriptions | 10,884,215 | 193,765,369 | 16,972,325 | 228,747,103 |
Distributions reinvested | 10,834,133 | 187,145,079 | 7,184,928 | 104,888,905 |
Redemptions | (19,167,274) | (347,443,155) | (43,827,331) | (604,187,359) |
Net increase (decrease) | 2,551,074 | 33,467,293 | (19,670,078) | (270,551,351) |
Institutional 2 Class | ||||
Subscriptions | 11,582,940 | 213,043,448 | 20,680,339 | 302,766,208 |
Distributions reinvested | 5,016,559 | 89,542,477 | 3,701,848 | 55,785,031 |
Redemptions | (24,818,436) | (462,546,284) | (24,052,108) | (352,694,991) |
Net increase (decrease) | (8,218,937) | (159,960,359) | 330,079 | 5,856,248 |
Institutional 3 Class | ||||
Subscriptions | 1,857,561 | 32,795,913 | 1,843,887 | 25,848,897 |
Distributions reinvested | 518,830 | 8,757,949 | 263,153 | 3,809,292 |
Redemptions | (1,652,664) | (29,162,029) | (1,100,104) | (15,556,253) |
Net increase | 723,727 | 12,391,833 | 1,006,936 | 14,101,936 |
Total net decrease | (8,226,698) | (180,940,391) | (37,479,800) | (531,088,162) |
20 | Columbia Mid Cap Index Fund | Annual Report 2022 |
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 2/28/2022 | $17.72 | 0.14(c) | 1.30 | 1.44 | (0.13) | (2.90) | (3.03) |
Year Ended 2/28/2021 | $14.07 | 0.14 | 5.02 | 5.16 | (0.16) | (1.35) | (1.51) |
Year Ended 2/29/2020 | $15.47 | 0.18 | (0.71) | (0.53) | (0.19) | (0.68) | (0.87) |
Year Ended 2/28/2019 | $16.25 | 0.18 | 0.36 | 0.54 | (0.17) | (1.15) | (1.32) |
Year Ended 2/28/2018 | $16.05 | 0.17 | 1.26 | 1.43 | (0.16) | (1.07) | (1.23) |
Institutional Class | |||||||
Year Ended 2/28/2022 | $17.63 | 0.19(c) | 1.29 | 1.48 | (0.18) | (2.90) | (3.08) |
Year Ended 2/28/2021 | $14.00 | 0.18 | 4.99 | 5.17 | (0.19) | (1.35) | (1.54) |
Year Ended 2/29/2020 | $15.39 | 0.22 | (0.70) | (0.48) | (0.23) | (0.68) | (0.91) |
Year Ended 2/28/2019 | $16.18 | 0.22 | 0.35 | 0.57 | (0.21) | (1.15) | (1.36) |
Year Ended 2/28/2018 | $15.99 | 0.21 | 1.25 | 1.46 | (0.20) | (1.07) | (1.27) |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $18.08 | 0.19(c) | 1.33 | 1.52 | (0.18) | (2.90) | (3.08) |
Year Ended 2/28/2021 | $14.32 | 0.18 | 5.12 | 5.30 | (0.19) | (1.35) | (1.54) |
Year Ended 2/29/2020 | $15.73 | 0.22 | (0.72) | (0.50) | (0.23) | (0.68) | (0.91) |
Year Ended 2/28/2019 | $16.50 | 0.22 | 0.37 | 0.59 | (0.21) | (1.15) | (1.36) |
Year Ended 2/28/2018 | $16.28 | 0.22 | 1.27 | 1.49 | (0.20) | (1.07) | (1.27) |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $17.25 | 0.18(c) | 1.28 | 1.46 | (0.18) | (2.90) | (3.08) |
Year Ended 2/28/2021 | $13.73 | 0.17 | 4.89 | 5.06 | (0.19) | (1.35) | (1.54) |
Year Ended 2/29/2020 | $15.11 | 0.21 | (0.68) | (0.47) | (0.23) | (0.68) | (0.91) |
Year Ended 2/28/2019 | $15.91 | 0.22 | 0.34 | 0.56 | (0.21) | (1.15) | (1.36) |
Year Ended 2/28/2018(g) | $16.00 | 0.21 | 0.97 | 1.18 | (0.20) | (1.07) | (1.27) |
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) | Net investment income per share includes special dividends. The per share effect of these dividends amounted to: |
Year Ended | Class A | Institutional Class | Institutional 2 Class | Institutional 3 Class |
02/28/2022 | $0.01 | $0.01 | $0.01 | $0.01 |
(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) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(g) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
22 | Columbia Mid Cap Index Fund | Annual Report 2022 |
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 2/28/2022 | $16.13 | 7.48% | 0.58%(d),(e) | 0.45%(d),(e),(f) | 0.78% | 16% | $768,487 |
Year Ended 2/28/2021 | $17.72 | 39.13% | 0.58%(e) | 0.45%(e),(f) | 1.01% | 14% | $902,341 |
Year Ended 2/29/2020 | $14.07 | (3.88%) | 0.58%(e) | 0.45%(e),(f) | 1.16% | 14% | $986,055 |
Year Ended 2/28/2019 | $15.47 | 3.66% | 0.58% | 0.45%(f) | 1.08% | 17% | $1,351,153 |
Year Ended 2/28/2018 | $16.25 | 8.99% | 0.58% | 0.45%(f) | 1.05% | 23% | $1,543,057 |
Institutional Class | |||||||
Year Ended 2/28/2022 | $16.03 | 7.72% | 0.33%(d),(e) | 0.20%(d),(e),(f) | 1.03% | 16% | $1,534,550 |
Year Ended 2/28/2021 | $17.63 | 39.49% | 0.34%(e) | 0.20%(e),(f) | 1.25% | 14% | $1,642,259 |
Year Ended 2/29/2020 | $14.00 | (3.59%) | 0.33%(e) | 0.20%(e),(f) | 1.40% | 14% | $1,579,863 |
Year Ended 2/28/2019 | $15.39 | 3.89% | 0.33% | 0.20%(f) | 1.33% | 17% | $1,979,350 |
Year Ended 2/28/2018 | $16.18 | 9.22% | 0.33% | 0.20%(f) | 1.30% | 23% | $2,229,366 |
Institutional 2 Class | |||||||
Year Ended 2/28/2022 | $16.52 | 7.75% | 0.27%(d),(e) | 0.20%(d),(e) | 1.03% | 16% | $634,732 |
Year Ended 2/28/2021 | $18.08 | 39.52% | 0.28%(e) | 0.20%(e) | 1.24% | 14% | $843,249 |
Year Ended 2/29/2020 | $14.32 | (3.65%) | 0.28%(e) | 0.20%(e) | 1.40% | 14% | $663,451 |
Year Ended 2/28/2019 | $15.73 | 3.94% | 0.27% | 0.20% | 1.33% | 17% | $798,386 |
Year Ended 2/28/2018 | $16.50 | 9.24% | 0.28% | 0.20% | 1.30% | 23% | $893,473 |
Institutional 3 Class | |||||||
Year Ended 2/28/2022 | $15.63 | 7.78% | 0.22%(d),(e) | 0.20%(d),(e) | 1.04% | 16% | $69,950 |
Year Ended 2/28/2021 | $17.25 | 39.46% | 0.23%(e) | 0.20%(e) | 1.23% | 14% | $64,740 |
Year Ended 2/29/2020 | $13.73 | (3.59%) | 0.23%(e) | 0.20%(e) | 1.41% | 14% | $37,706 |
Year Ended 2/28/2019 | $15.11 | 3.89% | 0.23% | 0.20% | 1.38% | 17% | $25,066 |
Year Ended 2/28/2018(g) | $15.91 | 7.47% | 0.22% | 0.20% | 1.33% | 23% | $8,094 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 23 |
February 28, 2022
24 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Mid Cap Index Fund | Annual Report 2022 | 25 |
February 28, 2022
26 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 501,077* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 3,191,852 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 746,083 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 40,289,098 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2022. |
Columbia Mid Cap Index Fund | Annual Report 2022 | 27 |
February 28, 2022
28 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Effective rate (%) | |
Class A | 0.11 |
Institutional Class | 0.11 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 29 |
February 28, 2022
Fee rate(s) contractual through June 30, 2022 | |
Class A | 0.45% |
Institutional Class | 0.20 |
Institutional 2 Class | 0.20 |
Institutional 3 Class | 0.20 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(1,823,185) | (48,987,253) | 50,810,438 |
30 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Year Ended February 28, 2022 | Year Ended February 28, 2021 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
87,782,065 | 449,506,793 | 537,288,858 | 42,504,690 | 271,758,200 | 314,262,890 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
6,920,126 | 126,721,338 | — | 1,165,889,975 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,843,025,352 | 1,271,498,916 | (105,608,941) | 1,165,889,975 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 31 |
February 28, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 3,000,000 | 0.69 | 1 |
32 | Columbia Mid Cap Index Fund | Annual Report 2022 |
February 28, 2022
Columbia Mid Cap Index Fund | Annual Report 2022 | 33 |
February 28, 2022
34 | Columbia Mid Cap Index Fund | Annual Report 2022 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 35 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
52.29% | 51.78% | 6.15% | $522,308,750 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
36 | Columbia Mid Cap Index Fund | Annual Report 2022 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 177 | 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) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 175 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 175 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 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 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 175 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 177 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 177 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 175 | None |
38 | Columbia Mid Cap Index Fund | Annual Report 2022 |
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 |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 175 | 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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 177 | 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) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 177 | Director, Blue Cross Blue Shield 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 since 1998 |
Columbia Mid Cap Index Fund | Annual Report 2022 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 175 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 177 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
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 |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 177 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | 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. |
40 | Columbia Mid Cap Index Fund | Annual Report 2022 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Mid Cap Index Fund | Annual Report 2022 | 41 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
42 | Columbia Mid Cap Index Fund | Annual Report 2022 |
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 ten series of the registrant whose reports to stockholders are included in this annual filing.
(a)Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended February 28, 2022 and February 28, 2021 are approximately as follows:
20222021
$295,000 $322,000
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 February 28, 2022 and February 28, 2021 are approximately as follows:
20222021
$13,500 $10,800
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 February 28, 2022 and February 28, 2021, 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 February 28, 2022 and February 28, 2021 are approximately as follows:
20222021
$5,500 $1,600
Tax Fees include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning. Fiscal year 2021 and 2022 include Tax Fees for foreign tax filings.
During the fiscal years ended February 28, 2022 and February 28, 2021, 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 February 28,
2022 and February 28, 2021 are approximately as follows:
2022 | 2021 |
$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 February 28, 2022 and February 28, 2021 are approximately as follows:
20222021
$520,000 $550,700
In fiscal years 2022 and 2021, 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 February 28, 2022 and February 28, 2021 are approximately as follows:
20222021
$539,000 $563,100
(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 |
| |
By (Signature and Title) | /s/ Daniel J. Beckman |
| ||
|
|
| Daniel J. Beckman, President and Principal Executive Officer |
|
Date |
| April 21, 2022 |
|
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 |
| April 21, 2022 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| April 21, 2022 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| April 21, 2022 |
|