UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-09645
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
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: April 30
Date of reporting period: October 31, 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.
October 31, 2022 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2022) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/02/93 | -1.01 | -4.59 | 0.14 | 0.33 |
Including sales charges | -1.99 | -5.59 | -0.05 | 0.23 | ||
Advisor Class* | 03/19/13 | -0.88 | -4.35 | 0.41 | 0.59 | |
Class C | Excluding sales charges | 05/19/94 | -1.38 | -5.27 | -0.60 | -0.41 |
Including sales charges | -2.37 | -6.21 | -0.60 | -0.41 | ||
Institutional Class | 10/07/93 | -0.88 | -4.35 | 0.39 | 0.58 | |
Institutional 2 Class* | 11/08/12 | -0.96 | -4.32 | 0.41 | 0.65 | |
Institutional 3 Class* | 03/01/17 | -0.94 | -4.27 | 0.48 | 0.63 | |
Bloomberg 1-5 Year Municipal Bond Index | -0.85 | -4.99 | 0.53 | 0.86 | ||
Bloomberg 1-3 Year Municipal Bond Index | -0.47 | -3.35 | 0.61 | 0.76 |
* | 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 Short Duration Municipal Bond Fund | Semiannual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2022) | |
AAA rating | 1.2 |
AA rating | 29.2 |
A rating | 36.2 |
BBB rating | 14.3 |
BB rating | 1.0 |
B rating | 0.4 |
Not rated | 17.7 |
Total | 100.0 |
Top Ten States/Territories (%) (at October 31, 2022) | |
New York | 21.3 |
Illinois | 10.3 |
New Jersey | 7.5 |
Pennsylvania | 6.0 |
Massachusetts | 5.1 |
California | 3.6 |
Georgia | 3.3 |
Michigan | 3.1 |
Florida | 3.1 |
Alabama | 3.1 |
4 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
May 1, 2022 — October 31, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 989.90 | 1,022.05 | 3.28 | 3.33 | 0.65 |
Advisor Class | 1,000.00 | 1,000.00 | 991.20 | 1,023.32 | 2.02 | 2.05 | 0.40 |
Class C | 1,000.00 | 1,000.00 | 986.20 | 1,018.25 | 7.05 | 7.16 | 1.40 |
Institutional Class | 1,000.00 | 1,000.00 | 991.20 | 1,023.32 | 2.02 | 2.05 | 0.40 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 990.40 | 1,023.52 | 1.82 | 1.85 | 0.36 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 990.60 | 1,023.77 | 1.56 | 1.59 | 0.31 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 5 |
October 31, 2022 (Unaudited)
Floating Rate Notes 1.1% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
New York 1.1% | ||||
New York City Water & Sewer System(a),(b) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013DD-2 (JPMorgan Chase Bank) | ||||
06/15/2043 | 1.590% | 7,500,000 | 7,500,000 | |
Total Floating Rate Notes (Cost $7,500,000) | 7,500,000 | |||
Municipal Bonds 87.1% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 3.0% | ||||
Black Belt Energy Gas District | ||||
Refunding Revenue Bonds | ||||
Series 2022D1 (Mandatory Put 06/01/27) | ||||
07/01/2052 | 4.000% | 3,000,000 | 2,905,364 | |
Revenue Bonds | ||||
Project No. 4 | ||||
Series 2019A-1 | ||||
06/01/2023 | 4.000% | 1,000,000 | 995,951 | |
Series 2019A-1 (Mandatory Put 12/01/25) | ||||
12/01/2049 | 4.000% | 2,000,000 | 1,939,202 | |
Series 2018A (Mandatory Put 12/01/23) | ||||
12/01/2048 | 4.000% | 4,970,000 | 4,940,390 | |
Black Belt Energy Gas District(c) | ||||
Revenue Bonds | ||||
Series 2018B-1 (Mandatory Put 12/01/23) | ||||
0.7 x 1-month USD LIBOR + 0.900% 12/01/2048 | 2.995% | 1,000,000 | 988,794 | |
Series 2018B-2 (Mandatory Put 12/01/23) | ||||
Muni Swap Index Yield + 0.620% 12/01/2048 | 2.860% | 5,000,000 | 4,948,131 | |
Industrial Development Board of the City of Mobile | ||||
Senior Revenue Bonds | ||||
Alabama Power Co. - Barry Plant Project | ||||
Series 2020 (Mandatory Put 06/26/25) | ||||
06/01/2034 | 1.000% | 1,150,000 | 1,068,797 | |
Lower Alabama Gas District (The) | ||||
Revenue Bonds | ||||
Gas Project | ||||
Series 2020 (Mandatory Put 12/01/25) | ||||
12/01/2050 | 4.000% | 600,000 | 582,612 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Southeast Energy Authority A Cooperative District | ||||
Revenue Bonds | ||||
Project #2 | ||||
Series 2021B | ||||
06/01/2026 | 4.000% | 1,265,000 | 1,236,387 | |
Total | 19,605,628 | |||
Alaska 0.3% | ||||
Alaska Industrial Development & Export Authority | ||||
Refunding Revenue Bonds | ||||
Greater Fairbanks Community Hospital Foundation Project | ||||
Series 2019 | ||||
04/01/2024 | 5.000% | 1,800,000 | 1,835,385 | |
Arizona 2.1% | ||||
Arizona Industrial Development Authority | ||||
Revenue Bonds | ||||
Lincoln South Beltway Project | ||||
Series 2020 | ||||
02/01/2023 | 5.000% | 1,250,000 | 1,255,036 | |
05/01/2023 | 5.000% | 1,000,000 | 1,007,947 | |
Chandler Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Intel Corp. | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
06/01/2049 | 5.000% | 1,450,000 | 1,450,642 | |
Intel Corp. Project | ||||
Series 2022-1 (Mandatory Put 09/01/27) | ||||
09/01/2042 | 5.000% | 5,000,000 | 5,121,661 | |
City of Phoenix Civic Improvement Corp.(d) | ||||
Revenue Bonds | ||||
Junior Lien - Airport | ||||
Series 2019B | ||||
07/01/2026 | 5.000% | 990,000 | 1,016,103 | |
Coconino County Pollution Control Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Nevada Power Co. | ||||
Series 2020 (Mandatory Put 03/31/23) | ||||
09/01/2032 | 1.875% | 1,500,000 | 1,487,768 | |
Maricopa County Industrial Development Authority(c) | ||||
Refunding Revenue Bonds | ||||
Banner Health Obligation | ||||
Series 2019 (Mandatory Put 10/18/24) | ||||
Muni Swap Index Yield + 0.570% 01/01/2035 | 2.810% | 1,375,000 | 1,367,614 |
6 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Maricopa County Pollution Control Corp. | ||||
Refunding Revenue Bonds | ||||
Palo Verde Project | ||||
Series 2021 (Mandatory Put 10/01/26) | ||||
06/01/2043 | 0.875% | 1,000,000 | 859,231 | |
Total | 13,566,002 | |||
California 3.2% | ||||
Anaheim Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Anaheim Public Improvements Project | ||||
Series 2019 | ||||
09/01/2028 | 5.000% | 1,000,000 | 1,047,609 | |
Bay Area Toll Authority(c) | ||||
Revenue Bonds | ||||
San Francisco Bay Area Toll Bridge | ||||
Series 2012 (Mandatory Put 04/01/24) | ||||
Muni Swap Index Yield + 1.100% 04/01/2045 | 3.340% | 500,000 | 501,681 | |
California County Tobacco Securitization Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
06/01/2023 | 4.000% | 400,000 | 401,039 | |
California Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Henry Mayo Newhall Hospital | ||||
Series 2021 | ||||
10/15/2024 | 4.000% | 380,000 | 378,520 | |
10/15/2025 | 4.000% | 400,000 | 396,191 | |
10/15/2026 | 4.000% | 415,000 | 407,871 | |
California Public Finance Authority(e) | ||||
Revenue Bonds | ||||
Enso Village Project - TEMPS 50 | ||||
Series 2021 | ||||
11/15/2027 | 2.125% | 3,000,000 | 2,734,119 | |
City of Los Angeles Department of Airports(d) | ||||
Refunding Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2022 | ||||
05/15/2025 | 5.000% | 1,930,000 | 1,987,580 | |
City of Vernon Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
08/01/2025 | 5.000% | 500,000 | 508,187 | |
08/01/2026 | 5.000% | 600,000 | 612,780 | |
Corona-Norco Unified School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation | ||||
Series 2002D (AGM) | ||||
09/01/2027 | 0.000% | 2,000,000 | 1,661,628 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Sacramento Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018C | ||||
07/01/2029 | 5.000% | 1,585,000 | 1,626,642 | |
Palomar Health | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
11/01/2022 | 5.000% | 375,000 | 375,019 | |
Pittsburg Successor Agency Redevelopment Agency(f) | ||||
Tax Allocation Bonds | ||||
Los Medanos Community Development Project | ||||
Series 1999 (AMBAC) | ||||
08/01/2024 | 0.000% | 2,000,000 | 1,867,723 | |
Port of Oakland(d) | ||||
Refunding Revenue Bonds | ||||
Intermediate Lien | ||||
Junior Subordinated Series 2021 | ||||
05/01/2026 | 5.000% | 4,125,000 | 4,273,197 | |
Sacramento Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Subordinated Series 2015A (BAM) | ||||
12/01/2022 | 5.000% | 385,000 | 385,545 | |
San Francisco City & County Airport Commission - San Francisco International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019 | ||||
01/01/2026 | 5.000% | 1,500,000 | 1,534,431 | |
Total | 20,699,762 | |||
Colorado 2.4% | ||||
City & County of Denver Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
11/15/2030 | 5.000% | 1,925,000 | 1,963,377 | |
System | ||||
Subordinated Series 2018A | ||||
12/01/2026 | 5.000% | 1,500,000 | 1,542,746 | |
Revenue Bonds | ||||
Series 2022A | ||||
11/15/2028 | 5.000% | 5,000,000 | 5,176,902 | |
Colorado Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
CommonSpirit Health | ||||
Series 2019B (Mandatory Put 08/01/26) | ||||
08/01/2049 | 5.000% | 2,000,000 | 2,042,674 | |
CommonSpirit Health Services | ||||
Series 2019B (Mandatory Put 08/01/25) | ||||
08/01/2049 | 5.000% | 1,000,000 | 1,016,056 | |
Revenue Bonds | ||||
Aberdeen Ridge | ||||
Series 2021B | ||||
05/15/2028 | 2.125% | 1,750,000 | 1,567,443 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 7 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
E-470 Public Highway Authority(c) | ||||
Refunding Revenue Bonds | ||||
Series 2021B (Mandatory Put 09/01/24) | ||||
0.7 x SOFR + 0.350% 09/01/2039 | 2.394% | 1,000,000 | 984,813 | |
University of Colorado | ||||
Refunding Revenue Bonds | ||||
University Enterprise | ||||
Series 2021 (Mandatory Put 10/15/25) | ||||
06/01/2051 | 2.000% | 1,750,000 | 1,662,694 | |
Total | 15,956,705 | |||
Connecticut 0.3% | ||||
City of New Haven | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A (AGM) | ||||
08/01/2024 | 5.000% | 1,000,000 | 1,024,559 | |
Connecticut Housing Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Housing Mortgage Finance Program | ||||
Series 2021 | ||||
05/15/2023 | 0.350% | 350,000 | 344,529 | |
11/15/2023 | 0.400% | 300,000 | 290,875 | |
State of Connecticut Special Tax(g) | ||||
Revenue Bonds | ||||
Series 2022A | ||||
07/01/2027 | 5.000% | 500,000 | 534,536 | |
Total | 2,194,499 | |||
District of Columbia 2.3% | ||||
District of Columbia | ||||
Revenue Bonds | ||||
Federal Highway Grant Anticipation | ||||
Series 2011 | ||||
12/01/2023 | 5.250% | 1,750,000 | 1,752,993 | |
Metropolitan Washington Airports Authority Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
10/01/2024 | 5.000% | 5,865,000 | 5,996,539 | |
10/01/2025 | 5.000% | 1,725,000 | 1,757,018 | |
Series 2018A | ||||
10/01/2027 | 5.000% | 2,385,000 | 2,472,536 | |
Series 2020A | ||||
10/01/2025 | 5.000% | 3,000,000 | 3,083,202 | |
Total | 15,062,288 | |||
Florida 3.0% | ||||
City of Jacksonville | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
10/01/2025 | 5.000% | 700,000 | 729,987 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Pompano Beach | ||||
Revenue Bonds | ||||
John Knox Village Project | ||||
Series 2021 | ||||
01/01/2027 | 1.450% | 2,000,000 | 1,709,532 | |
County of Lee Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
10/01/2025 | 5.000% | 1,850,000 | 1,894,144 | |
10/01/2028 | 5.000% | 2,035,000 | 2,087,775 | |
Florida Development Finance Corp.(e) | ||||
Revenue Bonds | ||||
Mayflower Retirement Community Center - TEMPS 50 | ||||
Series 2021 | ||||
06/01/2026 | 1.750% | 1,020,000 | 901,149 | |
Greater Orlando Aviation Authority(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016A | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,029,982 | |
Revenue Bonds | ||||
Series 2019A | ||||
10/01/2025 | 5.000% | 2,000,000 | 2,055,468 | |
Hillsborough County Aviation Authority(d) | ||||
Prerefunded 10/01/24 Revenue Bonds | ||||
Tampa International Airport | ||||
Subordinated Series 2015B | ||||
10/01/2040 | 5.000% | 3,000,000 | 3,074,537 | |
Revenue Bonds | ||||
Tampa International Airport | ||||
Series 2022S | ||||
10/01/2026 | 5.000% | 3,250,000 | 3,357,223 | |
Seminole County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Legacy Pointe at UCF Project | ||||
Series 2019 | ||||
11/15/2025 | 3.750% | 2,000,000 | 1,853,195 | |
St. Johns County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Vicar’s Landing Project | ||||
Series 2021 | ||||
12/15/2024 | 4.000% | 145,000 | 141,007 | |
12/15/2025 | 4.000% | 180,000 | 172,397 | |
12/15/2026 | 4.000% | 185,000 | 174,300 | |
Village Community Development District No. 13 | ||||
Special Assessment Bonds | ||||
Series 2021 | ||||
05/01/2026 | 1.800% | 500,000 | 445,830 | |
Total | 19,626,526 |
8 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Georgia 3.2% | ||||
Burke County Development Authority | ||||
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 05/25/23) | ||||
10/01/2032 | 2.250% | 1,000,000 | 988,042 | |
City of Atlanta Department of Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021C | ||||
07/01/2025 | 5.000% | 1,000,000 | 1,025,559 | |
Development Authority of Burke County (The) | ||||
Refunding Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2022 (Mandatory Put 08/19/25) | ||||
12/01/2049 | 2.875% | 750,000 | 726,709 | |
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 03/12/24) | ||||
11/01/2048 | 2.925% | 1,250,000 | 1,223,644 | |
Georgia State Road & Tollway Authority(e),(f) | ||||
Revenue Bonds | ||||
I-75 S Express Lanes Project | ||||
Series 2014 Escrowed to Maturity | ||||
06/01/2024 | 0.000% | 530,000 | 496,839 | |
Main Street Natural Gas, Inc.(e) | ||||
Revenue Bonds | ||||
Gas Supply | ||||
Series 2022C (Mandatory Put 11/01/27) | ||||
08/01/2052 | 4.000% | 3,000,000 | 2,770,562 | |
Main Street Natural Gas, Inc.(c) | ||||
Revenue Bonds | ||||
Series 2018B (Mandatory Put 09/01/23) | ||||
0.7 x 1-month USD LIBOR + 0.750% 04/01/2048 | 2.845% | 1,500,000 | 1,489,760 | |
Main Street Natural Gas, Inc. | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/15/2024 | 5.000% | 1,250,000 | 1,261,086 | |
Series 2019B (Mandatory Put 12/02/24) | ||||
08/01/2049 | 4.000% | 3,925,000 | 3,900,327 | |
Series 2019C | ||||
09/01/2024 | 5.000% | 1,500,000 | 1,501,748 | |
Series 2019C (Mandatory Put 09/01/26) | ||||
03/01/2050 | 4.000% | 4,500,000 | 4,319,491 | |
Series 2021C | ||||
12/01/2027 | 4.000% | 1,225,000 | 1,168,026 | |
Total | 20,871,793 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Guam 0.4% | ||||
Guam Power Authority(h) | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
10/01/2025 | 5.000% | 2,375,000 | 2,432,983 | |
Territory of Guam(h) | ||||
Refunding Revenue Bonds | ||||
Section 30 | ||||
Series 2016A | ||||
12/01/2022 | 5.000% | 500,000 | 500,179 | |
Total | 2,933,162 | |||
Idaho 0.1% | ||||
Idaho Housing & Finance Association | ||||
Revenue Bonds | ||||
Sunset Landing Apartment Project | ||||
Series 2021 | ||||
07/01/2024 | 0.700% | 820,000 | 781,270 | |
Illinois 9.9% | ||||
Chicago Board of Education | ||||
Refunding Unlimited General Obligation Bonds | ||||
Series 2017F | ||||
12/01/2024 | 5.000% | 1,000,000 | 1,001,518 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2021B | ||||
12/01/2022 | 5.000% | 400,000 | 400,477 | |
Chicago Housing Authority | ||||
Revenue Bonds | ||||
Series 2018A (HUD) | ||||
01/01/2023 | 5.000% | 1,000,000 | 1,001,712 | |
Chicago Midway International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Junior 2nd Lien | ||||
Series 2014A | ||||
01/01/2027 | 5.000% | 2,885,000 | 2,902,542 | |
01/01/2030 | 5.000% | 2,845,000 | 2,852,711 | |
Series 2016A | ||||
01/01/2024 | 5.000% | 2,000,000 | 2,021,772 | |
Chicago O’Hare International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2028 | 5.000% | 2,515,000 | 2,545,664 | |
Chicago Park District | ||||
Refunding Limited General Obligation Bonds | ||||
Limited Tax | ||||
Series 2014C | ||||
01/01/2026 | 5.000% | 1,865,000 | 1,881,131 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 9 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Chicago | ||||
Refunding Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
01/01/2024 | 5.000% | 2,090,000 | 2,096,855 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2020A | ||||
01/01/2024 | 5.000% | 340,000 | 341,115 | |
City of Chicago Wastewater Transmission | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2008 | ||||
01/01/2024 | 5.000% | 2,200,000 | 2,235,239 | |
Cook County Community College District No. 535 Oakton | ||||
Prerefunded 12/01/24 Limited General Obligation Bonds | ||||
Limited Tax | ||||
Series 2014 | ||||
12/01/2027 | 4.000% | 200,000 | 202,476 | |
Cook County School District No. 99 Cicero | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2019 | ||||
12/01/2023 | 5.000% | 575,000 | 582,740 | |
County of Cook Sales Tax | ||||
Revenue Bonds | ||||
Series 2012 | ||||
11/15/2024 | 5.000% | 810,000 | 810,513 | |
Illinois Development Finance Authority(f) | ||||
Revenue Bonds | ||||
Regency Park | ||||
Series 1991 Escrowed to Maturity | ||||
07/15/2025 | 0.000% | 2,010,000 | 1,817,624 | |
Zero Regency Park | ||||
Series 1991 Escrowed to Maturity | ||||
07/15/2023 | 0.000% | 2,395,000 | 2,339,553 | |
Illinois Finance Authority | ||||
Improvement Refunding Bonds | ||||
Chicago International | ||||
Series 2017 | ||||
12/01/2022 | 5.000% | 290,000 | 290,196 | |
Refunding Revenue Bonds | ||||
American Water Capital Corp. Project | ||||
Series 2020 (Mandatory Put 09/01/23) | ||||
05/01/2040 | 0.700% | 2,000,000 | 1,946,869 | |
Lifespace Communities | ||||
Series 2015 | ||||
05/15/2023 | 5.000% | 250,000 | 250,047 | |
05/15/2024 | 5.000% | 450,000 | 449,596 | |
Illinois Finance Authority(b) | ||||
Refunding Revenue Bonds | ||||
OSF Healthcare System | ||||
Series 2020 (Mandatory Put 11/15/24) | ||||
05/15/2050 | 5.000% | 4,250,000 | 4,324,361 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Illinois Finance Authority(c) | ||||
Refunding Revenue Bonds | ||||
Presbyterian Homes | ||||
Series 2021 (Mandatory Put 05/01/26) | ||||
Muni Swap Index Yield + 0.700% 05/01/2042 | 2.940% | 1,250,000 | 1,212,185 | |
Illinois Housing Development Authority | ||||
Revenue Bonds | ||||
Senior | ||||
Series 2016A | ||||
10/01/2031 | 3.125% | 915,000 | 898,136 | |
Series 2021C (FHA) | ||||
07/01/2026 | 0.800% | 1,000,000 | 900,064 | |
Kane Cook & DuPage Counties School District No. U-46 Elgin(f) | ||||
Unrefunded Unlimited General Obligation Bonds | ||||
Series 2003B (AMBAC) | ||||
01/01/2023 | 0.000% | 2,000,000 | 1,988,776 | |
Kendall Kane & Will Counties Community Unit School District No. 308 | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2011A | ||||
02/01/2023 | 5.500% | 2,000,000 | 2,010,382 | |
Metropolitan Pier & Exposition Authority | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion | ||||
Series 2022 | ||||
06/15/2024 | 3.000% | 2,250,000 | 2,198,553 | |
06/15/2025 | 3.000% | 2,000,000 | 1,920,164 | |
Northern Illinois University | ||||
Refunding Revenue Bonds | ||||
Northern University of Illinois | ||||
Series 2020B (BAM) | ||||
04/01/2025 | 5.000% | 400,000 | 409,816 | |
Revenue Bonds | ||||
Board of Trustees | ||||
Series 2021 (BAM) | ||||
10/01/2025 | 5.000% | 310,000 | 319,545 | |
10/01/2026 | 5.000% | 250,000 | 258,797 | |
Railsplitter Tobacco Settlement Authority | ||||
Revenue Bonds | ||||
Series 2017 | ||||
06/01/2023 | 5.000% | 2,415,000 | 2,433,632 | |
06/01/2024 | 5.000% | 3,000,000 | 3,054,288 | |
State of Illinois | ||||
Unlimited General Obligation Bonds | ||||
Senior | ||||
Series 2014 | ||||
05/01/2026 | 5.000% | 2,000,000 | 2,006,425 | |
Series 2020C | ||||
05/01/2023 | 5.375% | 250,000 | 251,712 | |
Series 2020D | ||||
10/01/2024 | 5.000% | 2,000,000 | 2,017,517 |
10 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2021A | ||||
03/01/2024 | 5.000% | 1,250,000 | 1,260,676 | |
03/01/2025 | 5.000% | 500,000 | 503,901 | |
03/01/2028 | 5.000% | 2,500,000 | 2,506,784 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2018A | ||||
10/01/2023 | 5.000% | 2,300,000 | 2,317,395 | |
Series 2021C | ||||
03/01/2024 | 4.000% | 1,000,000 | 995,757 | |
Series 2022B | ||||
03/01/2025 | 5.000% | 2,400,000 | 2,418,725 | |
Village of Bolingbrook | ||||
Refunding Special Tax Bonds | ||||
Series 2018 (AGM) | ||||
03/01/2023 | 4.000% | 510,000 | 510,955 | |
Total | 64,688,896 | |||
Indiana 1.9% | ||||
City of Whiting(d) | ||||
Refunding Revenue Bonds | ||||
BP Products North America | ||||
Series 2019 (Mandatory Put 06/05/26) | ||||
12/01/2044 | 5.000% | 1,000,000 | 1,014,715 | |
City of Whiting(b),(d) | ||||
Revenue Bonds | ||||
BP Products North America, Inc. Project | ||||
Series 2017 (Mandatory Put 11/01/24) | ||||
11/01/2047 | 5.000% | 5,000,000 | 5,047,239 | |
Indiana Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Fulcrum Centerpoint LLC Project | ||||
Series 2022 (Mandatory Put 11/15/23) | ||||
12/15/2046 | 4.500% | 4,000,000 | 4,000,287 | |
Indiana Finance Authority | ||||
Refunding Revenue Bonds | ||||
Indianapolis Power & Light Co. Project | ||||
Series 2021 | ||||
08/01/2025 | 0.650% | 1,500,000 | 1,330,215 | |
Indianapolis Local Public Improvement Bond Bank(d) | ||||
Refunding Revenue Bonds | ||||
Indianapolis Airport | ||||
Series 2019 | ||||
01/01/2026 | 5.000% | 1,050,000 | 1,075,039 | |
Total | 12,467,495 | |||
Iowa 0.5% | ||||
Iowa Student Loan Liquidity Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
12/01/2022 | 5.000% | 400,000 | 400,515 | |
12/01/2023 | 5.000% | 580,000 | 587,131 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2015A | ||||
12/01/2022 | 5.000% | 2,000,000 | 2,002,573 | |
Total | 2,990,219 | |||
Kentucky 2.1% | ||||
City of Henderson(d),(e) | ||||
Revenue Bonds | ||||
Pratt Paper LLC Project | ||||
Series 2022 | ||||
01/01/2032 | 3.700% | 1,000,000 | 905,996 | |
County of Owen | ||||
Refunding Revenue Bonds | ||||
Kentucky-American Water Co. Project | ||||
Series 2020 (Mandatory Put 09/01/23) | ||||
06/01/2040 | 0.700% | 1,250,000 | 1,216,793 | |
Kenton County School District Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
10/01/2025 | 3.000% | 1,995,000 | 1,941,814 | |
Kentucky Asset Liability Commission | ||||
Revenue Bonds | ||||
Project Notes - Federal Highway Trust Fund | ||||
Series 2015 | ||||
09/01/2023 | 5.000% | 500,000 | 506,875 | |
Kentucky Interlocal School Transportation Association | ||||
Refunding Certificate of Participation | ||||
Series 2021 | ||||
03/01/2025 | 1.250% | 1,335,000 | 1,225,622 | |
03/01/2026 | 1.250% | 1,085,000 | 961,637 | |
Kentucky Public Energy Authority | ||||
Revenue Bonds | ||||
Series 2018A (Mandatory Put 04/01/24) | ||||
04/01/2048 | 4.000% | 2,780,000 | 2,746,184 | |
Series 2018B | ||||
07/01/2023 | 4.000% | 750,000 | 748,018 | |
Series 2020A (Mandatory Put 06/01/26) | ||||
12/01/2050 | 4.000% | 1,355,000 | 1,318,988 | |
Kentucky Public Energy Authority(c) | ||||
Revenue Bonds | ||||
Series 2019A-2 (Mandatory Put 06/01/25) | ||||
0.7 x 1-month USD LIBOR + 1.120% 12/01/2049 | 3.215% | 1,000,000 | 971,085 | |
Louisville/Jefferson County Metropolitan Government | ||||
Unrefunded Revenue Bonds | ||||
Norton Healthcare, Inc. | ||||
Series 2020 (Mandatory Put 10/01/23) | ||||
10/01/2047 | 5.000% | 1,125,000 | 1,131,395 | |
Total | 13,674,407 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 11 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Louisiana 1.0% | ||||
Lake Charles Harbor & Terminal District(b),(d) | ||||
Revenue Bonds | ||||
Big Lake Fuels LLC Project | ||||
Series 2021 (Mandatory Put 12/01/24) | ||||
12/01/2051 | 1.000% | 5,000,000 | 4,648,117 | |
Louisiana Local Government Environmental Facilities & Community Development Authority | ||||
Refunding Revenue Bonds | ||||
Entergy Louisiana LLC Project | ||||
Series 2021 | ||||
06/01/2030 | 2.000% | 1,250,000 | 1,029,716 | |
Louisiana Offshore Terminal Authority | ||||
Refunding Revenue Bonds | ||||
Loop LLC Project | ||||
Series 2019 (Mandatory Put 12/01/23) | ||||
09/01/2027 | 1.650% | 1,000,000 | 976,978 | |
Total | 6,654,811 | |||
Maryland 1.4% | ||||
City of Rockville | ||||
Refunding Revenue Bonds | ||||
Ingelside at King Farm Project | ||||
Series 2017 | ||||
11/01/2022 | 5.000% | 500,000 | 500,008 | |
Maryland Community Development Administration | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C | ||||
03/01/2029 | 1.550% | 3,240,000 | 2,760,033 | |
Revenue Bonds | ||||
Series 2021B | ||||
03/01/2027 | 0.900% | 860,000 | 750,067 | |
Maryland Economic Development Corp.(d) | ||||
Revenue Bonds | ||||
Green Bonds - Purple Line Light Rail Project | ||||
Series 2022 | ||||
11/12/2028 | 5.000% | 2,000,000 | 2,046,049 | |
Maryland Health & Higher Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
University of Maryland Medical System | ||||
Series 2020 (Mandatory Put 07/01/25) | ||||
07/01/2045 | 5.000% | 1,500,000 | 1,541,096 | |
State of Maryland Department of Transportation(g) | ||||
Refunding Revenue Bonds | ||||
Series 2022B | ||||
12/01/2027 | 5.000% | 1,205,000 | 1,297,768 | |
Total | 8,895,021 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts 2.7% | ||||
Berkshire Regional Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2022 | ||||
07/25/2023 | 4.000% | 5,350,000 | 5,343,118 | |
Boston Housing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
04/01/2023 | 0.650% | 590,000 | 579,909 | |
10/01/2023 | 0.700% | 470,000 | 452,508 | |
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Berklee College of Music | ||||
Series 2016 | ||||
10/01/2029 | 5.000% | 1,000,000 | 1,032,821 | |
Series 2019A | ||||
07/01/2024 | 5.000% | 260,000 | 264,967 | |
Massachusetts Educational Financing Authority(d) | ||||
Revenue Bonds | ||||
Education Loan | ||||
Series 2021 | ||||
07/01/2025 | 5.000% | 750,000 | 766,123 | |
07/01/2026 | 5.000% | 1,120,000 | 1,150,296 | |
Senior Series 2020B | ||||
07/01/2026 | 5.000% | 1,250,000 | 1,285,952 | |
Senior Series 2022B | ||||
07/01/2025 | 5.000% | 250,000 | 255,375 | |
07/01/2029 | 5.000% | 825,000 | 862,064 | |
Senior Revenue Bonds | ||||
Series 2019B | ||||
07/01/2023 | 5.000% | 500,000 | 504,590 | |
Massachusetts Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2021A-2 (HUD) | ||||
06/01/2024 | 0.400% | 500,000 | 473,444 | |
Massachusetts Port Authority(d) | ||||
Refunding Revenue Bonds | ||||
BosFuel Project | ||||
Series 2019A | ||||
07/01/2026 | 5.000% | 885,000 | 908,032 | |
Town of Orange | ||||
Limited General Obligation Notes | ||||
BAN Series 2022 | ||||
08/24/2023 | 3.750% | 4,000,000 | 3,988,978 | |
Total | 17,868,177 |
12 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Michigan 3.0% | ||||
Great Lakes Water Authority Water Supply System | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Subordinated Series 2018A | ||||
07/01/2023 | 5.000% | 800,000 | 808,923 | |
Michigan Finance Authority | ||||
Refunding Revenue Bonds | ||||
McLaren Health Care | ||||
Series 2021D-1 | ||||
10/15/2026 | 0.900% | 2,495,000 | 2,241,204 | |
10/15/2027 | 1.100% | 1,650,000 | 1,424,124 | |
Revenue Bonds | ||||
Variable Bronson Health Care Group | ||||
Series 2019 (Mandatory Put 11/15/22) | ||||
11/15/2044 | 3.500% | 1,000,000 | 1,000,013 | |
Michigan Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Student Loan | ||||
Series 2014-25A | ||||
11/01/2023 | 3.500% | 3,165,000 | 3,165,000 | |
Revenue Bonds | ||||
Student Loan | ||||
Series 2014-25A | ||||
11/01/2024 | 3.750% | 1,530,000 | 1,530,000 | |
Michigan Finance Authority(i) | ||||
Refunding Revenue Bonds | ||||
Trinity Health | ||||
Series 2019 (Mandatory Put 02/01/25) | ||||
12/01/2044 | 5.000% | 1,605,000 | 1,648,098 | |
Michigan State Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2021A | ||||
04/01/2025 | 0.550% | 1,000,000 | 923,028 | |
Michigan Strategic Fund(d) | ||||
Revenue Bonds | ||||
Consumers Energy Co. Project | ||||
Series 2021 (Mandatory Put 10/08/26) | ||||
04/01/2035 | 0.875% | 1,335,000 | 1,178,471 | |
Green Bonds | ||||
Series 2021 (Mandatory Put 10/01/26) | ||||
10/01/2061 | 4.000% | 2,000,000 | 1,905,030 | |
Wayne County Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Junior Lien | ||||
Series 2017B | ||||
12/01/2022 | 5.000% | 1,100,000 | 1,101,191 | |
Series 2015F | ||||
12/01/2027 | 5.000% | 2,810,000 | 2,864,582 | |
Total | 19,789,664 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Minnesota 0.8% | ||||
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2023 | 3.000% | 200,000 | 197,739 | |
08/01/2024 | 3.000% | 100,000 | 97,339 | |
08/01/2025 | 3.000% | 200,000 | 191,572 | |
08/01/2026 | 3.000% | 250,000 | 235,542 | |
Minnesota Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021C (GNMA) | ||||
07/01/2023 | 0.450% | 240,000 | 234,729 | |
01/01/2024 | 0.600% | 375,000 | 360,932 | |
Revenue Bonds | ||||
Series 2020A | ||||
07/01/2023 | 1.350% | 190,000 | 186,936 | |
Series 2020A (GNMA) | ||||
07/01/2024 | 1.450% | 120,000 | 115,117 | |
Series 2020D (GNMA) | ||||
07/01/2026 | 1.650% | 365,000 | 333,175 | |
Series 2020H | ||||
01/01/2023 | 0.550% | 190,000 | 189,016 | |
07/01/2023 | 0.600% | 210,000 | 205,593 | |
01/01/2024 | 0.650% | 175,000 | 168,534 | |
07/01/2024 | 0.700% | 190,000 | 179,999 | |
01/01/2025 | 0.800% | 340,000 | 317,196 | |
07/01/2025 | 0.850% | 360,000 | 330,522 | |
Minnesota Rural Water Finance Authority, Inc. | ||||
Revenue Notes | ||||
Public Projects Construction | ||||
Series 2022 | ||||
12/01/2023 | 2.625% | 1,700,000 | 1,663,145 | |
Total | 5,007,086 | |||
Mississippi 0.4% | ||||
County of Warren(d) | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2020 (Mandatory Put 06/16/25) | ||||
08/01/2027 | 1.600% | 1,000,000 | 928,770 | |
Mississippi Business Finance Corp.(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
03/01/2027 | 2.200% | 1,250,000 | 1,204,405 | |
State of Mississippi Gaming Tax | ||||
Revenue Bonds | ||||
Series 2019A | ||||
10/15/2024 | 5.000% | 750,000 | 769,127 | |
Total | 2,902,302 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 13 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Missouri 0.7% | ||||
Kansas City Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Kansas City International Airport | ||||
Series 2019 | ||||
03/01/2028 | 5.000% | 3,810,000 | 3,902,161 | |
Missouri Development Finance Board | ||||
Refunding Revenue Bonds | ||||
Crackerneck Creek Project | ||||
Series 2021 | ||||
03/01/2025 | 5.000% | 425,000 | 428,954 | |
03/01/2026 | 5.000% | 300,000 | 302,833 | |
Total | 4,633,948 | |||
Nebraska 0.6% | ||||
Central Plains Energy Project | ||||
Refunding Revenue Bonds | ||||
Project #3 | ||||
Series 2017A | ||||
09/01/2026 | 5.000% | 680,000 | 690,198 | |
Revenue Bonds | ||||
Project No. 4 | ||||
Series 2018 (Mandatory Put 01/01/24) | ||||
03/01/2050 | 5.000% | 1,000,000 | 1,000,536 | |
Nebraska Investment Finance Authority | ||||
Revenue Bonds | ||||
Series 2018C | ||||
09/01/2023 | 2.250% | 1,920,000 | 1,899,513 | |
Total | 3,590,247 | |||
Nevada 0.6% | ||||
City of North Las Vegas | ||||
Limited General Obligation Refunding Bonds | ||||
Building | ||||
Series 2018 (AGM) | ||||
06/01/2023 | 5.000% | 1,000,000 | 1,008,980 | |
City of Sparks(e) | ||||
Refunding Revenue Bonds | ||||
Sales Tax | ||||
Series 2019A | ||||
06/15/2024 | 2.500% | 220,000 | 210,897 | |
County of Clark Department of Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Junior Subordinated Series 2021B | ||||
07/01/2025 | 5.000% | 2,590,000 | 2,647,648 | |
Total | 3,867,525 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Hampshire 0.5% | ||||
New Hampshire Business Finance Authority | ||||
Refunding Revenue Bonds | ||||
Springpoint Senior Living | ||||
Series 2021 | ||||
01/01/2025 | 4.000% | 290,000 | 285,212 | |
01/01/2026 | 4.000% | 265,000 | 258,377 | |
New Hampshire Business Finance Authority(c),(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2018 (Mandatory Put 07/01/24) | ||||
Muni Swap Index Yield + 0.375% 10/01/2033 | 2.615% | 2,000,000 | 1,915,605 | |
New Hampshire Business Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 07/01/24) | ||||
07/01/2027 | 2.150% | 1,000,000 | 961,002 | |
Total | 3,420,196 | |||
New Jersey 6.5% | ||||
New Jersey Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
American Water Co. | ||||
Series 2020B (Mandatory Put 06/01/23) | ||||
11/01/2034 | 1.200% | 3,000,000 | 2,954,097 | |
New Jersey-American Water Company, Inc. Project | ||||
Series 2020 | ||||
12/01/2025 | 0.850% | 2,750,000 | 2,439,095 | |
New Jersey Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
School Facilities Construction | ||||
Series 2013 | ||||
03/01/2023 | 5.000% | 2,520,000 | 2,530,988 | |
Series 2015XX | ||||
06/15/2026 | 4.250% | 2,355,000 | 2,368,634 | |
Revenue Bonds | ||||
Self-Designated Social Bonds | ||||
Series 2021 | ||||
06/15/2023 | 5.000% | 220,000 | 221,773 | |
06/15/2024 | 5.000% | 600,000 | 611,755 | |
New Jersey Health Care Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Hospital Asset Transformation Program | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 2,000,000 | 2,046,020 | |
Hospital Asset Transformation Project | ||||
Series 2017 | ||||
10/01/2026 | 5.000% | 650,000 | 673,586 |
14 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
RWJ Barnabas Health Obligated Group | ||||
Series 2019 (Mandatory Put 07/01/25) | ||||
07/01/2042 | 5.000% | 3,370,000 | 3,481,114 | |
New Jersey Higher Education Student Assistance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
12/01/2022 | 5.000% | 1,000,000 | 1,001,246 | |
Revenue Bonds | ||||
Senior Series 2016-1A | ||||
12/01/2025 | 5.000% | 1,000,000 | 1,024,774 | |
12/01/2026 | 5.000% | 1,000,000 | 1,023,030 | |
Series 2015-1A | ||||
12/01/2027 | 4.000% | 1,785,000 | 1,776,665 | |
Series 2017-1A | ||||
12/01/2023 | 5.000% | 4,125,000 | 4,165,688 | |
12/01/2024 | 5.000% | 3,750,000 | 3,816,706 | |
Series 2020B | ||||
12/01/2022 | 5.000% | 1,150,000 | 1,151,573 | |
Senior Revenue Bonds | ||||
Series 2022B | ||||
12/01/2024 | 5.000% | 885,000 | 901,982 | |
New Jersey Housing & Mortgage Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020F (HUD) | ||||
04/01/2026 | 1.500% | 3,075,000 | 2,805,213 | |
New Jersey Transportation Trust Fund Authority | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
06/15/2026 | 5.000% | 250,000 | 258,477 | |
Series 2022AA | ||||
06/15/2027 | 5.000% | 3,185,000 | 3,304,306 | |
Transportation System | ||||
Series 2018A | ||||
12/15/2023 | 5.000% | 250,000 | 253,477 | |
Revenue Bonds | ||||
Transportation System | ||||
Series 2010D | ||||
12/15/2023 | 5.000% | 2,375,000 | 2,408,027 | |
State of New Jersey | ||||
Unlimited General Obligation Bonds | ||||
COVID-19 Emergency Bonds | ||||
Series 2020 | ||||
06/01/2023 | 4.000% | 1,000,000 | 1,003,572 | |
Total | 42,221,798 | |||
New Mexico 0.3% | ||||
City of Farmington | ||||
Refunding Revenue Bonds | ||||
Public Service Co. of New Mexico San Juan Project | ||||
Series 2020 (Mandatory Put 06/01/24) | ||||
06/01/2040 | 1.150% | 2,000,000 | 1,902,733 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York 15.1% | ||||
Chautauqua County Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
NRG Energy Project | ||||
Series 2020 (Mandatory Put 04/03/23) | ||||
04/01/2042 | 1.300% | 5,000,000 | 4,915,163 | |
City of North Tonawanda | ||||
Limited General Obligation Notes | ||||
BAN Series 2022 | ||||
05/18/2023 | 4.000% | 4,894,375 | 4,897,803 | |
City of Schenectady | ||||
Limited General Obligation Notes | ||||
BAN Series 2022 | ||||
05/05/2023 | 3.500% | 4,985,778 | 4,979,614 | |
County of Madison | ||||
Limited General Obligation Notes | ||||
BAN Series 2021 | ||||
11/23/2022 | 1.500% | 2,680,000 | 2,677,836 | |
Dundee Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2022 | ||||
06/23/2023 | 3.500% | 3,500,000 | 3,497,149 | |
Huntington Local Development Corp. | ||||
Revenue Bonds | ||||
Fountaingate Garden Project | ||||
Series 2021 | ||||
07/01/2025 | 3.000% | 1,175,000 | 1,121,522 | |
Series 2021B | ||||
07/01/2027 | 4.000% | 1,000,000 | 943,288 | |
Keene Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2021 | ||||
11/18/2022 | 1.500% | 7,600,000 | 7,596,705 | |
Long Island Power Authority(c) | ||||
Refunding Revenue Bonds | ||||
Series 2018C (Mandatory Put 10/01/23) | ||||
0.7 x 1-month USD LIBOR + 0.750% 05/01/2033 | 2.939% | 1,000,000 | 999,989 | |
Metropolitan Transportation Authority(c) | ||||
Refunding Revenue Bonds | ||||
Transportation | ||||
Subordinated Series 2021 (AGM) (Mandatory Put 04/01/24) | ||||
0.7 x SOFR + 0.550% 11/01/2032 | 2.594% | 500,000 | 488,833 | |
Metropolitan Transportation Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Subordinated Series 2019A (Mandatory Put 11/15/24) | ||||
11/15/2048 | 5.000% | 1,000,000 | 1,011,487 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 15 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York City Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainability Bonds | ||||
Series 2020 (FHA) (Mandatory Put 05/01/25) | ||||
11/01/2060 | 0.700% | 4,680,000 | 4,282,539 | |
Sustainable Development | ||||
Series 2021 (FHA) (Mandatory Put 07/01/25) | ||||
05/01/2061 | 0.600% | 4,000,000 | 3,605,233 | |
New York Liberty Development Corp. | ||||
Refunding Revenue Bonds | ||||
Green Bonds - 4 World Trade Center Project | ||||
Series 2021 | ||||
11/15/2031 | 1.900% | 950,000 | 726,224 | |
New York State Dormitory Authority(e) | ||||
Refunding Revenue Bonds | ||||
Garnet Health Medical Center | ||||
Series 2017 | ||||
12/01/2022 | 5.000% | 600,000 | 600,371 | |
New York Transportation Development Corp.(d) | ||||
Refunding Revenue Bonds | ||||
American Airlines, Inc. Project | ||||
Series 2021 | ||||
08/01/2026 | 2.250% | 2,035,000 | 1,866,342 | |
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2025 | 5.000% | 1,400,000 | 1,420,115 | |
Revenue Bonds | ||||
LaGuardia Airport Terminal B Redevelopment Project | ||||
Series 2016 | ||||
07/01/2030 | 5.000% | 1,255,000 | 1,265,555 | |
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2022 | ||||
12/01/2026 | 5.000% | 2,500,000 | 2,529,187 | |
Owego Apalachin Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2022 | ||||
06/28/2023 | 4.000% | 3,000,000 | 2,998,565 | |
Port Authority of New York & New Jersey(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018-207 | ||||
09/15/2029 | 5.000% | 5,000,000 | 5,138,852 | |
Series 2021-223 | ||||
07/15/2026 | 5.000% | 4,130,000 | 4,256,987 | |
Series 2021-226 | ||||
10/15/2026 | 5.000% | 2,670,000 | 2,756,897 | |
10/15/2027 | 5.000% | 1,625,000 | 1,686,514 | |
10/15/2028 | 5.000% | 1,750,000 | 1,825,296 | |
Revenue Bonds | ||||
Consolidated One Hundred Eighty Four | ||||
Series 2014-25A | ||||
09/01/2028 | 5.000% | 1,275,000 | 1,288,937 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of New York Mortgage Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019-221 | ||||
04/01/2024 | 1.800% | 2,000,000 | 1,939,011 | |
Social Bonds | ||||
Series 2021-232 | ||||
04/01/2024 | 5.000% | 355,000 | 359,383 | |
10/01/2024 | 5.000% | 370,000 | 375,971 | |
Series 2021-235 | ||||
04/01/2026 | 1.050% | 1,275,000 | 1,150,765 | |
10/01/2026 | 1.150% | 1,335,000 | 1,191,740 | |
04/01/2027 | 1.300% | 2,705,000 | 2,425,688 | |
Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-240 | ||||
04/01/2024 | 0.750% | 1,595,000 | 1,520,428 | |
10/01/2024 | 0.850% | 1,970,000 | 1,849,744 | |
04/01/2025 | 0.950% | 2,485,000 | 2,300,710 | |
10/01/2025 | 1.050% | 1,000,000 | 914,152 | |
04/01/2026 | 1.200% | 1,220,000 | 1,095,332 | |
Triborough Bridge & Tunnel Authority(c) | ||||
Refunding Revenue Bonds | ||||
MTA Bridges and Tunnels | ||||
Series 2021 (Mandatory Put 02/01/24) | ||||
0.7 x SOFR + 0.380% 01/01/2032 | 2.424% | 1,980,000 | 1,944,939 | |
Village of Endicott | ||||
Limited General Obligation Notes | ||||
BAN Series 2022 | ||||
08/24/2023 | 3.750% | 3,000,000 | 2,997,205 | |
Watervliet City School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2022 | ||||
04/26/2023 | 3.250% | 5,000,000 | 4,994,456 | |
Windsor Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2021 | ||||
11/01/2022 | 1.500% | 3,950,000 | 3,949,897 | |
Total | 98,386,424 | |||
North Carolina 1.0% | ||||
City of Charlotte Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021B | ||||
07/01/2025 | 5.000% | 1,345,000 | 1,379,377 | |
North Carolina Eastern Municipal Power Agency(j) | ||||
Revenue Bonds | ||||
Series 1993 (FGIC) | ||||
01/01/2025 | 3.100% | 600,000 | 576,752 |
16 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Home Ownership | ||||
Series 2021-47 (GNMA) | ||||
01/01/2028 | 1.050% | 1,580,000 | 1,349,737 | |
North Carolina Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 | ||||
01/01/2025 | 5.000% | 1,500,000 | 1,508,480 | |
Series 2018 | ||||
01/01/2025 | 5.000% | 1,110,000 | 1,116,275 | |
North Carolina Turnpike Authority(f) | ||||
Refunding Revenue Bonds | ||||
Series 2016C | ||||
07/01/2026 | 0.000% | 780,000 | 653,600 | |
Total | 6,584,221 | |||
North Dakota 0.7% | ||||
North Dakota Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C | ||||
01/01/2024 | 0.700% | 1,800,000 | 1,740,642 | |
07/01/2024 | 0.800% | 1,685,000 | 1,607,063 | |
01/01/2025 | 0.950% | 975,000 | 917,807 | |
Total | 4,265,512 | |||
Ohio 2.0% | ||||
City of Cleveland Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
01/01/2024 | 5.000% | 1,200,000 | 1,218,534 | |
Ohio Air Quality Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
American Electric Power Co. Project | ||||
Series 2019 (Mandatory Put 10/01/24) | ||||
07/01/2028 | 2.100% | 6,000,000 | 5,696,242 | |
Duke Energy Corp. Project | ||||
Series 2022 (Mandatory Put 06/01/27) | ||||
11/01/2039 | 4.250% | 2,500,000 | 2,438,979 | |
Ohio Turnpike & Infrastructure Commission(g) | ||||
Refunding Revenue Bonds | ||||
Junior Lien - Infrastructure Projects | ||||
Series 2022 | ||||
02/15/2026 | 5.000% | 1,250,000 | 1,309,407 | |
02/15/2027 | 5.000% | 1,000,000 | 1,060,462 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Port of Greater Cincinnati Development Authority | ||||
Revenue Bonds | ||||
Convention Center Hotel Acquisition and Demolition Project | ||||
Series 2020A | ||||
05/01/2023 | 3.000% | 1,000,000 | 991,346 | |
Total | 12,714,970 | |||
Oklahoma 0.4% | ||||
Tulsa Airports Improvement Trust(d) | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
Series 2015A (BAM) | ||||
06/01/2035 | 5.000% | 1,000,000 | 1,020,871 | |
06/01/2045 | 5.000% | 1,280,000 | 1,306,716 | |
Total | 2,327,587 | |||
Oregon 0.1% | ||||
State of Oregon Housing & Community Services Department(i) | ||||
Revenue Bonds | ||||
Plaza Los Amigos Apartments Project | ||||
Series 2022 (Mandatory Put 02/01/25) | ||||
02/01/2026 | 3.000% | 500,000 | 478,020 | |
Pennsylvania 5.3% | ||||
Allegheny County Airport Authority(d) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
01/01/2027 | 5.000% | 1,155,000 | 1,180,917 | |
City of Philadelphia Airport(d) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2021 | ||||
07/01/2027 | 5.000% | 4,000,000 | 4,098,064 | |
Series 2017B | ||||
07/01/2026 | 5.000% | 3,360,000 | 3,439,424 | |
Series 2020C | ||||
07/01/2025 | 5.000% | 2,450,000 | 2,503,911 | |
Geisinger Authority | ||||
Refunding Revenue Bonds | ||||
Geisinger Health System Obligated Group | ||||
Series 2020 (Mandatory Put 02/15/27) | ||||
04/01/2043 | 5.000% | 3,350,000 | 3,465,672 | |
Montgomery County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Meadowood Senior Living Project | ||||
Series 2018 | ||||
12/01/2022 | 4.000% | 250,000 | 249,977 | |
12/01/2023 | 5.000% | 320,000 | 322,060 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 17 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Northampton County General Purpose Authority(c) | ||||
Revenue Bonds | ||||
St. Luke’s University Health Network | ||||
Series 2018 (Mandatory Put 08/15/24) | ||||
0.7 x 1-month USD LIBOR + 1.040% 08/15/2048 | 3.229% | 1,000,000 | 1,000,118 | |
Pennsylvania Economic Development Financing Authority(d) | ||||
Revenue Bonds | ||||
PA Bridges Finco | ||||
Series 2015 | ||||
12/31/2029 | 5.000% | 5,000,000 | 4,996,063 | |
Pennsylvania Bridges Finco LP - P3 Project | ||||
Series 2015 | ||||
12/31/2024 | 5.000% | 2,450,000 | 2,463,350 | |
Pennsylvania Higher Education Assistance Agency(d) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
06/01/2027 | 5.000% | 1,315,000 | 1,338,637 | |
Pennsylvania Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-134B | ||||
04/01/2025 | 5.000% | 435,000 | 444,668 | |
10/01/2025 | 5.000% | 800,000 | 819,973 | |
Pennsylvania Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-136 | ||||
04/01/2026 | 5.000% | 250,000 | 260,409 | |
10/01/2027 | 5.000% | 175,000 | 184,604 | |
Revenue Bonds | ||||
Series 2019-129 | ||||
10/01/2034 | 2.950% | 1,500,000 | 1,263,230 | |
Series 2020-132A | ||||
04/01/2026 | 1.450% | 1,400,000 | 1,298,135 | |
10/01/2026 | 1.500% | 1,500,000 | 1,378,265 | |
Redevelopment Authority of the City of Philadelphia(d) | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
04/15/2027 | 5.000% | 2,010,000 | 2,055,641 | |
School District of Philadelphia (The) | ||||
Limited General Obligation Bonds | ||||
Series 2018A | ||||
09/01/2023 | 5.000% | 450,000 | 455,521 | |
Southeastern Pennsylvania Transportation Authority | ||||
Revenue Bonds | ||||
Asset Improvement Program | ||||
Series 2022 | ||||
06/01/2027 | 5.000% | 1,000,000 | 1,069,509 | |
Total | 34,288,148 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Puerto Rico 1.1% | ||||
Commonwealth of Puerto Rico(h) | ||||
Unlimited General Obligation Bonds | ||||
Series 2021-A1 | ||||
07/01/2025 | 5.375% | 4,500,000 | 4,497,419 | |
Puerto Rico Housing Finance Authority(h) | ||||
Refunding Revenue Bonds | ||||
Public Housing Project | ||||
Series 2020 | ||||
12/01/2022 | 5.000% | 2,500,000 | 2,503,522 | |
Total | 7,000,941 | |||
Rhode Island 0.9% | ||||
Rhode Island Housing & Mortgage Finance Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Homeownership Opportunity | ||||
Series 2016 | ||||
04/01/2026 | 2.600% | 1,235,000 | 1,180,701 | |
10/01/2026 | 2.650% | 1,575,000 | 1,498,727 | |
Rhode Island Student Loan Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
12/01/2022 | 5.000% | 1,300,000 | 1,301,619 | |
Revenue Bonds | ||||
Senior Program | ||||
Series 2019A | ||||
12/01/2023 | 5.000% | 650,000 | 657,579 | |
12/01/2024 | 5.000% | 875,000 | 891,965 | |
12/01/2035 | 2.875% | 630,000 | 616,751 | |
Total | 6,147,342 | |||
South Carolina 0.4% | ||||
Patriots Energy Group Financing Agency(c) | ||||
Revenue Bonds | ||||
Series 2018B (Mandatory Put 02/01/24) | ||||
0.7 x 1-month USD LIBOR + 0.860% 10/01/2048 | 2.955% | 1,000,000 | 989,162 | |
South Carolina State Housing Finance & Development Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
01/01/2024 | 1.500% | 1,005,000 | 980,822 | |
07/01/2024 | 1.550% | 520,000 | 502,508 | |
Total | 2,472,492 | |||
Tennessee 0.7% | ||||
Memphis-Shelby County Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020B | ||||
07/01/2024 | 5.000% | 2,235,000 | 2,274,079 |
18 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Tennergy Corp. | ||||
Revenue Bonds | ||||
Series 2019A (Mandatory Put 10/01/24) | ||||
02/01/2050 | 5.000% | 585,000 | 591,396 | |
Tennessee Energy Acquisition Corp. | ||||
Revenue Bonds | ||||
Project | ||||
Series 2017A (Mandatory Put 05/01/23) | ||||
05/01/2048 | 4.000% | 1,000,000 | 997,816 | |
Series 2006C | ||||
02/01/2023 | 5.000% | 790,000 | 790,981 | |
Total | 4,654,272 | |||
Texas 1.6% | ||||
Atascosa County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
San Miguel Electric Cooperative, Inc. Project | ||||
Series 2020 | ||||
12/15/2024 | 5.000% | 550,000 | 559,722 | |
12/15/2026 | 5.000% | 625,000 | 644,373 | |
Central Texas Regional Mobility Authority | ||||
Revenue Bonds | ||||
Subordinated Series 2021C | ||||
01/01/2027 | 5.000% | 2,000,000 | 2,051,436 | |
City of Houston Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018C | ||||
07/01/2027 | 5.000% | 1,890,000 | 1,948,387 | |
Harris County Cultural Education Facilities Finance Corp.(c) | ||||
Revenue Bonds | ||||
Natus Medical, Inc. | ||||
Series 2019 (Mandatory Put 12/04/24) | ||||
Muni Swap Index Yield + 0.570% 12/01/2049 | 2.810% | 2,000,000 | 1,985,487 | |
Port Beaumont Navigation District(d),(e) | ||||
Revenue Bonds | ||||
Jefferson Gulf Coast Energy Project | ||||
Series 2021 | ||||
01/01/2026 | 1.875% | 700,000 | 621,778 | |
Spring Branch Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2022 | ||||
02/01/2025 | 5.000% | 1,000,000 | 1,037,133 | |
Tarrant County Cultural Education Facilities Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Buckner Retirement Services | ||||
Series 2017 | ||||
11/15/2022 | 5.000% | 1,000,000 | 1,000,738 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Texas Municipal Gas Acquisition & Supply Corp. III | ||||
Refunding Revenue Bonds | ||||
Senior | ||||
Series 2021 | ||||
12/15/2028 | 5.000% | 500,000 | 506,575 | |
Total | 10,355,629 | |||
Vermont 0.5% | ||||
Vermont Student Assistance Corp.(d) | ||||
Revenue Bonds | ||||
Student Loan | ||||
Senior Series 2018A | ||||
06/15/2025 | 5.000% | 1,010,000 | 1,030,390 | |
06/15/2026 | 5.000% | 1,375,000 | 1,411,822 | |
Series 2022A | ||||
06/15/2028 | 5.000% | 985,000 | 996,522 | |
Total | 3,438,734 | |||
Virginia 0.8% | ||||
Amelia County Industrial Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2021 | ||||
04/01/2027 | 1.450% | 1,750,000 | 1,515,459 | |
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Hospital Center | ||||
Series 2020 | ||||
07/01/2023 | 5.000% | 740,000 | 746,550 | |
Henrico County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Westminster-Canterbury Project | ||||
Series 2018 | ||||
10/01/2023 | 5.000% | 575,000 | 578,781 | |
Henrico County Economic Development Authority(j) | ||||
Revenue Bonds | ||||
Registered Savrs | ||||
Series 1992 Escrowed to Maturity (AGM) | ||||
08/23/2027 | 2.282% | 900,000 | 900,000 | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
LifeSpire of Virginia | ||||
Series 2021 | ||||
12/01/2024 | 3.000% | 220,000 | 212,158 | |
12/01/2025 | 3.000% | 230,000 | 217,828 | |
12/01/2026 | 3.000% | 235,000 | 218,496 | |
National Senior Campuses | ||||
Series 2020 | ||||
01/01/2023 | 5.000% | 425,000 | 425,495 | |
01/01/2024 | 5.000% | 500,000 | 504,932 | |
Total | 5,319,699 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 19 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Washington 0.8% | ||||
Chelan County Public Utility District No. 1(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020C | ||||
07/01/2023 | 5.000% | 990,000 | 1,000,390 | |
07/01/2024 | 5.000% | 2,155,000 | 2,204,913 | |
07/01/2025 | 5.000% | 1,170,000 | 1,210,380 | |
Washington State Housing Finance Commission(d) | ||||
Refunding Revenue Bonds | ||||
Single Family Program | ||||
Series 2015 | ||||
12/01/2022 | 2.600% | 515,000 | 514,664 | |
Total | 4,930,347 | |||
West Virginia 0.1% | ||||
West Virginia Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Appalachian Power Co. Amos Project | ||||
Series 2019 (Mandatory Put 04/01/24) | ||||
03/01/2040 | 2.550% | 1,000,000 | 968,122 | |
Wisconsin 2.3% | ||||
City of Milwaukee | ||||
Unlimited General Obligation Refunding Bonds | ||||
Promissory Notes | ||||
Series 2020N-4 | ||||
04/01/2024 | 5.000% | 1,500,000 | 1,524,921 | |
County of Milwaukee Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
12/01/2027 | 5.000% | 1,975,000 | 1,990,028 | |
Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Retirement Housing Foundation | ||||
Series 2017 | ||||
11/15/2022 | 5.000% | 500,000 | 500,437 | |
Public Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2016 | ||||
05/01/2027 | 2.875% | 5,350,000 | 4,946,013 | |
State of Wisconsin(g) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2022-4 | ||||
05/01/2026 | 5.000% | 1,230,000 | 1,300,927 | |
Wisconsin Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Marshfield Clinic Health System, Inc. | ||||
Series 2020 (Mandatory Put 02/15/25) | ||||
02/15/2052 | 5.000% | 3,500,000 | 3,547,071 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Aspirus, Inc. Obligation Group | ||||
Series 2017 | ||||
08/15/2023 | 5.000% | 205,000 | 207,439 | |
Wisconsin Housing & Economic Development Authority | ||||
Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C (GNMA) | ||||
03/01/2025 | 0.700% | 425,000 | 397,393 | |
03/01/2028 | 1.400% | 700,000 | 614,214 | |
Total | 15,028,443 | |||
Wyoming 0.1% | ||||
Wyoming Community Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020-3 | ||||
06/01/2023 | 5.000% | 955,000 | 962,752 | |
Total Municipal Bonds (Cost $598,870,787) | 568,031,200 | |||
Municipal Short Term 8.3% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
California 0.3% | ||||
California Pollution Control Financing Authority(d),(e) | ||||
Revenue Bonds | ||||
Series 2017A-2 (Mandatory Put 01/17/23) | ||||
11/01/2042 | 3.880% | 2,000,000 | 1,999,171 | |
Indiana 0.2% | ||||
Indiana Finance Authority(d) | ||||
Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2012 (Mandatory Put 12/01/22) | ||||
12/01/2037 | 2.950% | 1,500,000 | 1,499,324 | |
Massachusetts 2.2% | ||||
Cape Cod Regional Transit Authority | ||||
Unlimited General Obligation Notes | ||||
RAN Series 2022 | ||||
07/21/2023 | 3.980% | 4,000,000 | 3,985,522 | |
Metrowest Regional Transit Authority | ||||
Revenue Notes | ||||
Series 2022 | ||||
09/15/2023 | 3.960% | 3,000,000 | 2,994,244 | |
Montachusett Regional Transit Authority | ||||
Revenue Notes | ||||
Regional Transit Authority | ||||
Series 2022 | ||||
07/28/2023 | 4.040% | 4,000,000 | 3,997,577 |
20 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Short Term (continued) | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Pioneer Valley Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2022 | ||||
07/14/2023 | 3.810% | 3,000,000 | 3,002,996 | |
Total | 13,980,339 | |||
New Jersey 0.8% | ||||
Township of Pemberton | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2022 | ||||
05/31/2023 | 4.170% | 5,000,000 | 4,993,099 | |
New York 4.3% | ||||
Board of Cooperative Educational Services for the Sole Supervisory District | ||||
Revenue Notes | ||||
RAN Series 2022 | ||||
06/29/2023 | 3.470% | 4,000,000 | 4,012,590 | |
City of Long Beach | ||||
Limited General Obligation Notes | ||||
BAN Series 2022A | ||||
02/17/2023 | 4.090% | 5,000,000 | 4,968,522 | |
County of Chemung | ||||
Limited General Obligation Notes | ||||
Series 2021 | ||||
12/29/2022 | 3.210% | 4,275,000 | 4,262,788 | |
Greater Southern Tier Board of Cooperative Educational Services District | ||||
Revenue Notes | ||||
RAN Series 2022 | ||||
06/30/2023 | 4.110% | 5,000,000 | 4,995,590 | |
Pine Valley Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2022 | ||||
06/14/2023 | 3.420% | 4,980,642 | 4,974,243 |
Municipal Short Term (continued) | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Town of Oyster Bay | ||||
Limited General Obligation Notes | ||||
Series 2022 | ||||
03/09/2023 | 3.100% | 5,000,000 | 4,997,200 | |
Total | 28,210,933 | |||
Pennsylvania 0.5% | ||||
Pennsylvania Economic Development Financing Authority(d) | ||||
Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2022 (Mandatory Put 01/17/23) | ||||
04/01/2049 | 2.360% | 3,250,000 | 3,238,360 | |
Total Municipal Short Term (Cost $54,287,065) | 53,921,226 |
Money Market Funds 3.9% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 2.007%(k) | 88,419 | 88,410 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 2.030%(k) | 25,135,575 | 25,135,575 |
Total Money Market Funds (Cost $25,223,985) | 25,223,985 | |
Total Investments in Securities (Cost $685,881,837) | 654,676,411 | |
Other Assets & Liabilities, Net | (2,904,453) | |
Net Assets | $651,771,958 |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 5-Year Note | (225) | 12/2022 | USD | (23,983,594) | 1,078,869 | — |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2022. |
(c) | Variable rate security. The interest rate shown was the current rate as of October 31, 2022. |
(d) | Income from this security may be subject to alternative minimum tax. |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 21 |
October 31, 2022 (Unaudited)
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2022, the total value of these securities amounted to $11,240,882, which represents 1.72% of total net assets. |
(f) | Zero coupon bond. |
(g) | Represents a security purchased on a when-issued basis. |
(h) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At October 31, 2022, the total value of these securities amounted to $9,934,103, which represents 1.52% of total net assets. |
(i) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of October 31, 2022. |
(j) | Represents a variable rate security where the coupon adjusts periodically through an auction process. |
(k) | The rate shown is the seven-day current annualized yield at October 31, 2022. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
FGIC | Financial Guaranty Insurance Corporation |
FHA | Federal Housing Authority |
GNMA | Government National Mortgage Association |
HUD | Department of Housing and Urban Development |
LIBOR | London Interbank Offered Rate |
RAN | Revenue Anticipation Note |
SOFR | Secured Overnight Financing Rate |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
22 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
The Fund’s Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 7,500,000 | — | 7,500,000 |
Municipal Bonds | — | 568,031,200 | — | 568,031,200 |
Municipal Short Term | — | 53,921,226 | — | 53,921,226 |
Money Market Funds | 25,223,985 | — | — | 25,223,985 |
Total Investments in Securities | 25,223,985 | 629,452,426 | — | 654,676,411 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 1,078,869 | — | — | 1,078,869 |
Total | 26,302,854 | 629,452,426 | — | 655,755,280 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 23 |
October 31, 2022 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $685,881,837) | $654,676,411 |
Cash | 21,807 |
Margin deposits on: | |
Futures contracts | 337,500 |
Receivable for: | |
Capital shares sold | 1,635,543 |
Interest | 6,874,648 |
Variation margin for futures contracts | 63,281 |
Expense reimbursement due from Investment Manager | 9,662 |
Prepaid expenses | 11,593 |
Other assets | 10,679 |
Total assets | 663,641,124 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 9,770,241 |
Capital shares purchased | 874,070 |
Distributions to shareholders | 985,682 |
Management services fees | 22,963 |
Distribution and/or service fees | 1,638 |
Transfer agent fees | 32,001 |
Compensation of board members | 157,535 |
Compensation of chief compliance officer | 69 |
Other expenses | 24,967 |
Total liabilities | 11,869,166 |
Net assets applicable to outstanding capital stock | $651,771,958 |
Represented by | |
Paid in capital | 692,665,356 |
Total distributable earnings (loss) | (40,893,398) |
Total - representing net assets applicable to outstanding capital stock | $651,771,958 |
24 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Class A | |
Net assets | $71,014,093 |
Shares outstanding | 7,210,921 |
Net asset value per share | $9.85 |
Maximum sales charge | 1.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.95 |
Advisor Class | |
Net assets | $71,040,524 |
Shares outstanding | 7,206,576 |
Net asset value per share | $9.86 |
Class C | |
Net assets | $2,234,983 |
Shares outstanding | 227,416 |
Net asset value per share | $9.83 |
Institutional Class | |
Net assets | $96,946,648 |
Shares outstanding | 9,843,351 |
Net asset value per share | $9.85 |
Institutional 2 Class | |
Net assets | $111,071,027 |
Shares outstanding | 11,285,628 |
Net asset value per share | $9.84 |
Institutional 3 Class | |
Net assets | $299,464,683 |
Shares outstanding | 30,421,433 |
Net asset value per share | $9.84 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 25 |
Six Months Ended October 31, 2022 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $45,573 |
Interest | 6,615,886 |
Total income | 6,661,459 |
Expenses: | |
Management services fees | 1,589,805 |
Distribution and/or service fees | |
Class A | 96,104 |
Class C | 9,872 |
Transfer agent fees | |
Class A | 41,220 |
Advisor Class | 39,713 |
Class C | 1,054 |
Institutional Class | 63,046 |
Institutional 2 Class | 30,597 |
Institutional 3 Class | 12,430 |
Compensation of board members | (20,914) |
Custodian fees | 7,389 |
Printing and postage fees | 16,239 |
Registration fees | 57,373 |
Audit fees | 21,947 |
Legal fees | 10,394 |
Interest on interfund lending | 1,800 |
Compensation of chief compliance officer | 69 |
Other | 10,341 |
Total expenses | 1,988,479 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (562,901) |
Fees waived by transfer agent | |
Institutional 2 Class | (288) |
Institutional 3 Class | (12,430) |
Expense reduction | (40) |
Total net expenses | 1,412,820 |
Net investment income | 5,248,639 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (5,332,898) |
Futures contracts | 427,329 |
Net realized loss | (4,905,569) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (6,470,879) |
Futures contracts | 539,175 |
Net change in unrealized appreciation (depreciation) | (5,931,704) |
Net realized and unrealized loss | (10,837,273) |
Net decrease in net assets resulting from operations | $(5,588,634) |
26 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
Six Months Ended October 31, 2022 (Unaudited) | Year Ended April 30, 2022 | |
Operations | ||
Net investment income | $5,248,639 | $7,112,067 |
Net realized loss | (4,905,569) | (408,776) |
Net change in unrealized appreciation (depreciation) | (5,931,704) | (35,630,751) |
Net decrease in net assets resulting from operations | (5,588,634) | (28,927,460) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (449,258) | (487,335) |
Advisor Class | (525,039) | (376,044) |
Class C | (4,452) | (295) |
Institutional Class | (829,028) | (939,542) |
Institutional 2 Class | (884,087) | (1,125,097) |
Institutional 3 Class | (2,624,459) | (4,250,161) |
Total distributions to shareholders | (5,316,323) | (7,178,474) |
Increase (decrease) in net assets from capital stock activity | (110,239,898) | 103,384,218 |
Total increase (decrease) in net assets | (121,144,855) | 67,278,284 |
Net assets at beginning of period | 772,916,813 | 705,638,529 |
Net assets at end of period | $651,771,958 | $772,916,813 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 27 |
Six Months Ended | Year Ended | |||
October 31, 2022 (Unaudited) | April 30, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 2,752,000 | 27,514,039 | 4,360,164 | 45,064,367 |
Fund reorganization | — | — | 329,765 | 3,440,076 |
Distributions reinvested | 39,819 | 397,565 | 41,180 | 425,903 |
Redemptions | (3,472,789) | (34,769,598) | (3,750,812) | (38,771,216) |
Net increase (decrease) | (680,970) | (6,857,994) | 980,297 | 10,159,130 |
Advisor Class | ||||
Subscriptions | 1,158,272 | 11,572,423 | 1,941,396 | 20,106,687 |
Fund reorganization | — | — | 9,031,436 | 94,310,363 |
Distributions reinvested | 15,610 | 156,062 | 14,451 | 148,451 |
Redemptions | (1,625,905) | (16,279,678) | (3,509,949) | (35,966,043) |
Net increase (decrease) | (452,023) | (4,551,193) | 7,477,334 | 78,599,458 |
Class C | ||||
Subscriptions | 107,119 | 1,070,293 | 50,002 | 515,694 |
Distributions reinvested | 447 | 4,434 | 28 | 291 |
Redemptions | (41,084) | (410,983) | (58,838) | (606,710) |
Net increase (decrease) | 66,482 | 663,744 | (8,808) | (90,725) |
Institutional Class | ||||
Subscriptions | 6,066,644 | 60,934,646 | 6,967,017 | 71,906,809 |
Distributions reinvested | 74,193 | 741,764 | 80,211 | 829,511 |
Redemptions | (7,045,175) | (70,664,153) | (5,353,606) | (54,974,865) |
Net increase (decrease) | (904,338) | (8,987,743) | 1,693,622 | 17,761,455 |
Institutional 2 Class | ||||
Subscriptions | 2,281,967 | 22,870,788 | 7,090,797 | 73,918,172 |
Distributions reinvested | 77,191 | 770,158 | 92,765 | 958,128 |
Redemptions | (3,835,037) | (38,418,915) | (2,655,624) | (27,372,308) |
Net increase (decrease) | (1,475,879) | (14,777,969) | 4,527,938 | 47,503,992 |
Institutional 3 Class | ||||
Subscriptions | 824,327 | 8,215,399 | 5,335,308 | 55,479,193 |
Distributions reinvested | 6,685 | 66,844 | 6,526 | 67,287 |
Redemptions | (8,394,347) | (84,010,986) | (10,258,937) | (106,095,572) |
Net decrease | (7,563,335) | (75,728,743) | (4,917,103) | (50,549,092) |
Total net increase (decrease) | (11,010,063) | (110,239,898) | 9,753,280 | 103,384,218 |
28 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 29 |
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 | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $10.01 | 0.06 | (0.16) | (0.10) | (0.06) | (0.06) |
Year Ended 4/30/2022 | $10.46 | 0.07 | (0.45) | (0.38) | (0.07) | (0.07) |
Year Ended 4/30/2021 | $10.26 | 0.11 | 0.20 | 0.31 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.35 | 0.15 | (0.08) | 0.07 | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.26 | 0.15 | 0.09 | 0.24 | (0.15) | (0.15) |
Year Ended 4/30/2018 | $10.36 | 0.11 | (0.09) | 0.02 | (0.12) | (0.12) |
Advisor Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $10.02 | 0.07 | (0.16) | (0.09) | (0.07) | (0.07) |
Year Ended 4/30/2022 | $10.48 | 0.10 | (0.47) | (0.37) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.27 | 0.13 | 0.21 | 0.34 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.36 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.27 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.36 | 0.14 | (0.09) | 0.05 | (0.14) | (0.14) |
Class C | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.99 | 0.02 | (0.16) | (0.14) | (0.02) | (0.02) |
Year Ended 4/30/2022 | $10.46 | (0.01) | (0.46) | (0.47) | (0.00)(f) | (0.00)(f) |
Year Ended 4/30/2021 | $10.25 | 0.03 | 0.21 | 0.24 | (0.03) | (0.03) |
Year Ended 4/30/2020 | $10.34 | 0.08 | (0.09) | (0.01) | (0.08) | (0.08) |
Year Ended 4/30/2019 | $10.25 | 0.07 | 0.10 | 0.17 | (0.08) | (0.08) |
Year Ended 4/30/2018 | $10.35 | 0.03 | (0.09) | (0.06) | (0.04) | (0.04) |
Institutional Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $10.01 | 0.07 | (0.16) | (0.09) | (0.07) | (0.07) |
Year Ended 4/30/2022 | $10.46 | 0.09 | (0.45) | (0.36) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.26 | 0.13 | 0.20 | 0.33 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.36 | 0.13 | (0.09) | 0.04 | (0.14) | (0.14) |
Institutional 2 Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $10.01 | 0.07 | (0.17) | (0.10) | (0.07) | (0.07) |
Year Ended 4/30/2022 | $10.46 | 0.09 | (0.44) | (0.35) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.25 | 0.14 | 0.21 | 0.35 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.35 | 0.15 | (0.09) | 0.06 | (0.15) | (0.15) |
30 | Columbia Short Duration Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.85 | (1.01%) | 0.81%(c),(d) | 0.65%(c),(d),(e) | 1.15%(c) | 23% | $71,014 |
Year Ended 4/30/2022 | $10.01 | (3.68%) | 0.81% | 0.66%(e) | 0.63% | 69% | $79,026 |
Year Ended 4/30/2021 | $10.46 | 2.99% | 0.81% | 0.66%(e) | 1.02% | 46% | $72,327 |
Year Ended 4/30/2020 | $10.26 | 0.63% | 0.80%(d) | 0.66%(d),(e) | 1.48% | 58% | $61,987 |
Year Ended 4/30/2019 | $10.35 | 2.39% | 0.81% | 0.66%(e) | 1.44% | 55% | $68,355 |
Year Ended 4/30/2018 | $10.26 | 0.16% | 0.81% | 0.67%(e) | 1.08% | 36% | $83,580 |
Advisor Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.86 | (0.88%) | 0.56%(c),(d) | 0.40%(c),(d),(e) | 1.40%(c) | 23% | $71,041 |
Year Ended 4/30/2022 | $10.02 | (3.53%) | 0.57% | 0.41%(e) | 0.93% | 69% | $76,764 |
Year Ended 4/30/2021 | $10.48 | 3.34% | 0.56% | 0.41%(e) | 1.26% | 46% | $1,899 |
Year Ended 4/30/2020 | $10.27 | 0.89% | 0.55%(d) | 0.41%(d),(e) | 1.72% | 58% | $1,701 |
Year Ended 4/30/2019 | $10.36 | 2.64% | 0.56% | 0.41%(e) | 1.74% | 55% | $2,027 |
Year Ended 4/30/2018 | $10.27 | 0.51% | 0.56% | 0.42%(e) | 1.33% | 36% | $607 |
Class C | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.83 | (1.38%) | 1.57%(c),(d) | 1.40%(c),(d),(e) | 0.43%(c) | 23% | $2,235 |
Year Ended 4/30/2022 | $9.99 | (4.48%) | 1.56% | 1.41%(e) | (0.11%) | 69% | $1,608 |
Year Ended 4/30/2021 | $10.46 | 2.32% | 1.56% | 1.41%(e) | 0.30% | 46% | $1,775 |
Year Ended 4/30/2020 | $10.25 | (0.12%) | 1.55%(d) | 1.41%(d),(e) | 0.74% | 58% | $3,464 |
Year Ended 4/30/2019 | $10.34 | 1.62% | 1.55% | 1.41%(e) | 0.69% | 55% | $6,322 |
Year Ended 4/30/2018 | $10.25 | (0.59%) | 1.56% | 1.42%(e) | 0.33% | 36% | $10,327 |
Institutional Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.85 | (0.88%) | 0.56%(c),(d) | 0.40%(c),(d),(e) | 1.39%(c) | 23% | $96,947 |
Year Ended 4/30/2022 | $10.01 | (3.44%) | 0.56% | 0.41%(e) | 0.88% | 69% | $107,620 |
Year Ended 4/30/2021 | $10.46 | 3.25% | 0.56% | 0.41%(e) | 1.27% | 46% | $94,743 |
Year Ended 4/30/2020 | $10.26 | 0.89% | 0.55%(d) | 0.41%(d),(e) | 1.72% | 58% | $86,870 |
Year Ended 4/30/2019 | $10.35 | 2.64% | 0.56% | 0.41%(e) | 1.70% | 55% | $104,300 |
Year Ended 4/30/2018 | $10.26 | 0.40% | 0.58% | 0.44%(e) | 1.21% | 36% | $112,699 |
Institutional 2 Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.84 | (0.96%) | 0.51%(c),(d) | 0.36%(c),(d) | 1.44%(c) | 23% | $111,071 |
Year Ended 4/30/2022 | $10.01 | (3.40%) | 0.51% | 0.37% | 0.92% | 69% | $127,702 |
Year Ended 4/30/2021 | $10.46 | 3.39% | 0.53% | 0.37% | 1.31% | 46% | $86,120 |
Year Ended 4/30/2020 | $10.25 | 0.83% | 0.51%(d) | 0.37%(d) | 1.77% | 58% | $71,372 |
Year Ended 4/30/2019 | $10.35 | 2.69% | 0.51% | 0.36% | 1.76% | 55% | $27,329 |
Year Ended 4/30/2018 | $10.26 | 0.55% | 0.51% | 0.37% | 1.41% | 36% | $18,813 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 31 |
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 | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $10.01 | 0.08 | (0.17) | (0.09) | (0.08) | (0.08) |
Year Ended 4/30/2022 | $10.46 | 0.10 | (0.45) | (0.35) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.25 | 0.14 | 0.21 | 0.35 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.35 | 0.19 | (0.10) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.25 | 0.18 | 0.11 | 0.29 | (0.19) | (0.19) |
Year Ended 4/30/2018 | $10.36 | 0.15 | (0.11) | 0.04 | (0.15) | (0.15) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | Rounds to zero. |
32 | Columbia Short Duration Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.84 | (0.94%) | 0.46%(c),(d) | 0.31%(c),(d) | 1.48%(c) | 23% | $299,465 |
Year Ended 4/30/2022 | $10.01 | (3.36%) | 0.47% | 0.32% | 0.97% | 69% | $380,197 |
Year Ended 4/30/2021 | $10.46 | 3.44% | 0.48% | 0.32% | 1.37% | 46% | $448,774 |
Year Ended 4/30/2020 | $10.25 | 0.88% | 0.46%(d) | 0.32%(d) | 1.82% | 58% | $511,085 |
Year Ended 4/30/2019 | $10.35 | 2.84% | 0.46% | 0.32% | 1.78% | 55% | $670,432 |
Year Ended 4/30/2018 | $10.25 | 0.41% | 0.46% | 0.33% | 1.50% | 36% | $911,594 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 33 |
October 31, 2022 (Unaudited)
34 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 35 |
October 31, 2022 (Unaudited)
36 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 1,078,869* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 427,329 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 539,175 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 26,207,618 |
* | Based on the ending quarterly outstanding amounts for the six months ended October 31, 2022. |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 37 |
October 31, 2022 (Unaudited)
38 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Effective rate (%) | |
Class A | 0.11 |
Advisor Class | 0.11 |
Class C | 0.11 |
Institutional Class | 0.11 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 39 |
October 31, 2022 (Unaudited)
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 1.00 | 0.50(a) | 28,815 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2022 through August 31, 2023 | Prior to September 1, 2022 | |
Class A | 0.65% | 0.66% |
Advisor Class | 0.40 | 0.41 |
Class C | 1.40 | 1.41 |
Institutional Class | 0.40 | 0.41 |
Institutional 2 Class | 0.34 | 0.37 |
Institutional 3 Class | 0.29 | 0.32 |
40 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
685,882,000 | 1,174,000 | (31,301,000) | (30,127,000) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(4,735,491) | (1,116,471) | (5,851,962) |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 41 |
October 31, 2022 (Unaudited)
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 3,916,667 | 2.84 | 6 |
Shares | |
Class A | 329,765 |
Advisor Class | 9,031,436 |
42 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
($) | |
Net investment income | 7,995,000 |
Net realized loss | (310,000) |
Net change in unrealized appreciation/(depreciation) | (36,561,000) |
Net decrease in net assets from operations | (28,876,000) |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 43 |
October 31, 2022 (Unaudited)
44 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 45 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
46 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 47 |
(Unaudited)
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
48 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
On June 23, 2022, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2022 | 49 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2022 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2022) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 05/05/92 | -3.05 | -9.30 | 0.02 | 0.91 |
Including sales charges | -6.00 | -12.03 | -0.60 | 0.60 | ||
Advisor Class* | 03/19/13 | -2.93 | -9.08 | 0.27 | 1.16 | |
Class C | Excluding sales charges | 06/17/92 | -3.31 | -9.97 | -0.73 | 0.16 |
Including sales charges | -4.27 | -10.86 | -0.73 | 0.16 | ||
Institutional Class | 01/06/92 | -2.93 | -9.08 | 0.25 | 1.16 | |
Institutional 3 Class* | 03/01/17 | -2.88 | -9.05 | 0.36 | 1.22 | |
Bloomberg 3-15 Year Blend Municipal Bond Index | -2.64 | -9.62 | 0.64 | 1.66 |
* | 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. 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 South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2022) | |
AAA rating | 5.1 |
AA rating | 37.0 |
A rating | 53.2 |
BBB rating | 2.8 |
BB rating | 1.3 |
Not rated | 0.6 |
Total | 100.0 |
4 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
May 1, 2022 — October 31, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 969.50 | 1,021.39 | 3.89 | 4.00 | 0.78 |
Advisor Class | 1,000.00 | 1,000.00 | 970.70 | 1,022.66 | 2.65 | 2.72 | 0.53 |
Class C | 1,000.00 | 1,000.00 | 966.90 | 1,017.59 | 7.63 | 7.82 | 1.53 |
Institutional Class | 1,000.00 | 1,000.00 | 970.70 | 1,022.61 | 2.70 | 2.77 | 0.54 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 971.20 | 1,023.01 | 2.30 | 2.36 | 0.46 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 5 |
October 31, 2022 (Unaudited)
Municipal Bonds 97.3% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 0.7% | ||||
Charleston County Airport District | ||||
Revenue Bonds | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 500,000 | 516,180 | |
Charter Schools 1.2% | ||||
South Carolina Jobs-Economic Development Authority(a) | ||||
Revenue Bonds | ||||
Series 2015A | ||||
08/15/2035 | 5.125% | 1,000,000 | 940,417 | |
Higher Education 5.8% | ||||
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Furman University | ||||
Series 2015 | ||||
10/01/2032 | 5.000% | 1,895,000 | 1,944,407 | |
Revenue Bonds | ||||
Wofford College Project | ||||
Series 2019 | ||||
04/01/2037 | 5.000% | 885,000 | 900,190 | |
University of South Carolina | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
05/01/2034 | 5.000% | 1,500,000 | 1,566,823 | |
Total | 4,411,420 | |||
Hospital 12.0% | ||||
County of Florence | ||||
Refunding Revenue Bonds | ||||
McLeod Regional Medical Center Project | ||||
Series 2014 | ||||
11/01/2031 | 5.000% | 1,500,000 | 1,535,718 | |
Lexington County Health Services District, Inc. | ||||
Refunding Revenue Bonds | ||||
Lexington Medical Center Obligated Group | ||||
Series 2017 | ||||
11/01/2032 | 4.000% | 1,050,000 | 1,002,794 | |
Revenue Bonds | ||||
Lexington Medical Center | ||||
Series 2016 | ||||
11/01/2034 | 5.000% | 1,500,000 | 1,522,406 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Prisma Health Obligated Group | ||||
Series 2018 | ||||
05/01/2036 | 5.000% | 2,000,000 | 2,013,737 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
McLeod Health Obligation Group | ||||
Series 2018 | ||||
11/01/2033 | 5.000% | 1,000,000 | 1,037,578 | |
St. Joseph’s Candler Health System, Inc. | ||||
Series 2019 | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,027,960 | |
Spartanburg Regional Health Services District | ||||
Refunding Revenue Bonds | ||||
Services District, Inc. | ||||
Series 2022 | ||||
04/15/2037 | 4.000% | 1,000,000 | 902,534 | |
Total | 9,042,727 | |||
Joint Power Authority 4.0% | ||||
South Carolina Public Service Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
12/01/2028 | 5.000% | 2,000,000 | 2,060,397 | |
Revenue Bonds | ||||
Series 2022A | ||||
12/01/2039 | 5.000% | 1,000,000 | 988,134 | |
Total | 3,048,531 | |||
Local Appropriation 32.9% | ||||
Aiken County Consolidated School District | ||||
Special Obligation Revenue Bonds | ||||
Series 2019 | ||||
06/01/2033 | 4.000% | 325,000 | 319,548 | |
Berkeley County School District | ||||
Refunding Revenue Bonds | ||||
Securing Assets for Education | ||||
Series 2015A | ||||
12/01/2027 | 5.000% | 1,500,000 | 1,526,673 | |
Center for Arts & Health Sciences Public Facilities Corp. | ||||
Revenue Bonds | ||||
Greenville Technical College Project | ||||
Series 2022 | ||||
10/01/2039 | 4.000% | 1,000,000 | 924,044 | |
Charleston Educational Excellence Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Charleston County School | ||||
Series 2013 | ||||
12/01/2025 | 5.000% | 2,000,000 | 2,036,088 | |
Charleston Public Facilities Corp. | ||||
Revenue Bonds | ||||
Series 2015A | ||||
09/01/2029 | 5.000% | 1,000,000 | 1,042,191 |
6 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of North Charleston | ||||
Tax Allocation Bonds | ||||
Series 2022 | ||||
10/01/2039 | 4.000% | 820,000 | 749,016 | |
Tax Increment Pledge | ||||
Series 2020 | ||||
10/01/2031 | 5.000% | 300,000 | 325,137 | |
County of Dorchester | ||||
Tax Allocation Bonds | ||||
Series 2020 | ||||
10/01/2036 | 5.000% | 385,000 | 408,342 | |
Dorchester County School District No. 2 | ||||
Refunding Revenue Bonds | ||||
Growth Installment Purchase | ||||
Series 2013 | ||||
12/01/2027 | 5.000% | 1,000,000 | 1,017,782 | |
Fort Mill School Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Fort Mills School District #4 | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,000,000 | 1,039,733 | |
Kershaw County School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2025 | 5.000% | 1,000,000 | 1,042,405 | |
Lexington One School Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Lexington County School District | ||||
Series 2015 | ||||
12/01/2026 | 5.000% | 835,000 | 849,913 | |
Lexington School District No. 2 Educational Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
12/01/2026 | 5.000% | 1,815,000 | 1,888,337 | |
Newberry Investing in Children’s Education | ||||
Refunding Revenue Bonds | ||||
Newberry County School District | ||||
Series 2014 | ||||
12/01/2029 | 5.000% | 1,500,000 | 1,541,435 | |
Orangeburg County School District | ||||
Revenue Bonds | ||||
Series 2022 | ||||
06/01/2039 | 5.000% | 1,000,000 | 961,311 | |
SCAGO Educational Facilities Corp. for Calhoun School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 (BAM) | ||||
12/01/2026 | 5.000% | 520,000 | 541,784 | |
SCAGO Educational Facilities Corp. for Cherokee School District No. 1 | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,830,000 | 1,887,616 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
SCAGO Educational Facilities Corp. for Colleton School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 1,295,000 | 1,336,402 | |
SCAGO Educational Facilities Corp. for Pickens School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2029 | 5.000% | 1,500,000 | 1,549,083 | |
12/01/2030 | 5.000% | 1,275,000 | 1,315,236 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
04/01/2034 | 5.000% | 940,000 | 941,837 | |
Sumter Two School Facilities, Inc. | ||||
Refunding Revenue Bonds | ||||
Sumter County School District No. 2 | ||||
Series 2016 (BAM) | ||||
12/01/2027 | 5.000% | 1,500,000 | 1,562,072 | |
Total | 24,805,985 | |||
Local General Obligation 4.2% | ||||
Anderson County School District No. 5 | ||||
Unlimited General Obligation Bonds | ||||
South Carolina School District Credit Enhancement Program | ||||
Series 2017 | ||||
03/01/2030 | 4.000% | 1,000,000 | 1,015,086 | |
Lexington County School District No. 1 | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2019A (School District Credit Enhancement Program) | ||||
02/01/2031 | 5.000% | 1,000,000 | 1,076,500 | |
Spartanburg County School District No. 7 | ||||
Unlimited General Obligation Bonds | ||||
Series 2018-B | ||||
03/01/2036 | 5.000% | 1,000,000 | 1,058,736 | |
Total | 3,150,322 | |||
Municipal Power 2.0% | ||||
City of Rock Hill Combined Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
01/01/2032 | 5.000% | 1,000,000 | 1,055,182 | |
Easley Combined Utility System | ||||
Refunding Revenue Bonds | ||||
Easley Combined Utility System | ||||
Series 2019 (AGM) | ||||
12/01/2033 | 4.000% | 500,000 | 478,147 | |
Total | 1,533,329 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 7 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Other Utility 1.4% | ||||
Patriots Energy Group | ||||
Improvement Refunding Revenue Bonds | ||||
Gas Systems | ||||
Series 2019 | ||||
06/01/2038 | 5.000% | 1,000,000 | 1,025,933 | |
Ports 2.7% | ||||
South Carolina Ports Authority(b) | ||||
Revenue Bonds | ||||
Series 2019B | ||||
07/01/2033 | 5.000% | 2,000,000 | 2,035,754 | |
Refunded / Escrowed 4.9% | ||||
City of Columbia | ||||
Prerefunded 02/01/24 Revenue Bonds | ||||
Series 2014 | ||||
02/01/2033 | 5.000% | 1,195,000 | 1,220,857 | |
County of Florence | ||||
Prerefunded 10/01/23 Revenue Bonds | ||||
Series 2015 | ||||
10/01/2028 | 5.000% | 1,000,000 | 1,016,198 | |
Greenville County Public Facilities Corp. | ||||
Prerefunded 04/01/24 Certificate of Participation | ||||
Series 2014 | ||||
04/01/2026 | 5.000% | 890,000 | 911,704 | |
South Carolina Jobs-Economic Development Authority | ||||
Prerefunded 11/01/24 Revenue Bonds | ||||
York Preparatory Academy Project | ||||
Series 2014A | ||||
11/01/2033 | 7.000% | 500,000 | 534,511 | |
Total | 3,683,270 | |||
Resource Recovery 4.4% | ||||
Three Rivers Solid Waste Authority(c) | ||||
Revenue Bonds | ||||
Capital Appreciation - Landfill Gas Project | ||||
Series 2007 | ||||
10/01/2024 | 0.000% | 1,835,000 | 1,701,606 | |
10/01/2025 | 0.000% | 1,835,000 | 1,632,604 | |
Total | 3,334,210 | |||
Retirement Communities 1.3% | ||||
South Carolina Jobs-Economic Development Authority(a) | ||||
Refunding Revenue Bonds | ||||
Wesley Commons | ||||
Series 2016 | ||||
10/01/2026 | 5.000% | 460,000 | 457,240 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South Carolina Jobs-Economic Development Authority | ||||
Revenue Bonds | ||||
Bishop Gadsden Episcopal Retirement Community | ||||
Series 2019 | ||||
04/01/2034 | 4.000% | 605,000 | 514,077 | |
Total | 971,317 | |||
Special Non Property Tax 4.9% | ||||
City of Florence Accommodations Fee | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/01/2030 | 4.000% | 1,000,000 | 998,917 | |
05/01/2035 | 5.000% | 1,000,000 | 1,019,541 | |
City of Myrtle Beach | ||||
Revenue Bonds | ||||
Hospitality Fee | ||||
Series 2014B | ||||
06/01/2030 | 5.000% | 560,000 | 572,526 | |
City of Rock Hill | ||||
Revenue Bonds | ||||
Hospitality Fee Pledge | ||||
Series 2013 | ||||
04/01/2023 | 5.000% | 695,000 | 699,926 | |
Town of Hilton Head Island | ||||
Revenue Bonds | ||||
Beach Preservation Fee Pledge | ||||
Series 2017 | ||||
08/01/2025 | 5.000% | 400,000 | 417,394 | |
Total | 3,708,304 | |||
Special Property Tax 2.6% | ||||
City of Myrtle Beach | ||||
Refunding Tax Allocation Bonds | ||||
Myrtle Beach Air Force Base | ||||
Series 2016 | ||||
10/01/2030 | 5.000% | 1,000,000 | 1,043,400 | |
County of Greenville | ||||
Revenue Bonds | ||||
Series 2021 | ||||
04/01/2038 | 4.000% | 1,000,000 | 922,006 | |
Total | 1,965,406 | |||
State General Obligation 2.8% | ||||
State of South Carolina | ||||
Unlimited General Obligation Bonds | ||||
Clemson University | ||||
Series 2022A | ||||
04/01/2040 | 5.000% | 1,000,000 | 1,085,884 | |
Series 2014B | ||||
04/01/2025 | 5.000% | 1,000,000 | 1,023,922 | |
Total | 2,109,806 |
8 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Water & Sewer 9.5% | ||||
Beaufort-Jasper Water & Sewer Authority | ||||
Revenue Bonds | ||||
Series 2019A | ||||
03/01/2035 | 5.000% | 750,000 | 796,147 | |
City of Charleston Waterworks & Sewer System | ||||
Revenue Bonds | ||||
Series 2019 | ||||
01/01/2038 | 5.000% | 1,000,000 | 1,072,708 | |
City of Columbia Stormwater System | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2018 | ||||
02/01/2038 | 5.000% | 350,000 | 363,893 | |
City of Columbia Waterworks & Sewer System | ||||
Revenue Bonds | ||||
Series 2018 | ||||
02/01/2035 | 4.000% | 560,000 | 545,636 | |
City of Spartanburg Water System | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
06/01/2035 | 4.000% | 1,375,000 | 1,333,856 | |
City of Sumter Waterworks & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 4.000% | 400,000 | 407,323 | |
Georgetown County Water & Sewer District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 4.000% | 450,000 | 453,837 | |
South Island Public Service District | ||||
Revenue Bonds | ||||
Series 2022 | ||||
04/01/2038 | 5.000% | 445,000 | 468,924 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Spartanburg Sanitation Sewer District | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
03/01/2034 | 5.000% | 1,000,000 | 1,024,623 | |
Town of Lexington Waterworks & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
06/01/2034 | 4.000% | 750,000 | 715,172 | |
Total | 7,182,119 | |||
Total Municipal Bonds (Cost $77,458,569) | 73,465,030 |
Money Market Funds 2.7% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 2.007%(d) | 64,083 | 64,077 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 2.030%(d) | 2,022,157 | 2,022,157 |
Total Money Market Funds (Cost $2,086,240) | 2,086,234 | |
Total Investments in Securities (Cost: $79,544,809) | 75,551,264 | |
Other Assets & Liabilities, Net | (27,479) | |
Net Assets | 75,523,785 |
(a) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2022, the total value of these securities amounted to $1,397,657, which represents 1.85% of total net assets. |
(b) | Income from this security may be subject to alternative minimum tax. |
(c) | Zero coupon bond. |
(d) | The rate shown is the seven-day current annualized yield at October 31, 2022. |
AGM | Assured Guaranty Municipal Corporation |
BAM | Build America Mutual Assurance Co. |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 9 |
October 31, 2022 (Unaudited)
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 73,465,030 | — | 73,465,030 |
Money Market Funds | 2,086,234 | — | — | 2,086,234 |
Total Investments in Securities | 2,086,234 | 73,465,030 | — | 75,551,264 |
10 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $79,544,809) | $75,551,264 |
Receivable for: | |
Capital shares sold | 101,342 |
Interest | 1,082,919 |
Expense reimbursement due from Investment Manager | 772 |
Prepaid expenses | 7,283 |
Total assets | 76,743,580 |
Liabilities | |
Due to custodian | 1,916 |
Payable for: | |
Capital shares purchased | 925,424 |
Distributions to shareholders | 168,241 |
Management services fees | 2,951 |
Distribution and/or service fees | 660 |
Transfer agent fees | 4,482 |
Compensation of board members | 101,181 |
Compensation of chief compliance officer | 9 |
Other expenses | 14,931 |
Total liabilities | 1,219,795 |
Net assets applicable to outstanding capital stock | $75,523,785 |
Represented by | |
Paid in capital | 82,526,694 |
Total distributable earnings (loss) | (7,002,909) |
Total - representing net assets applicable to outstanding capital stock | $75,523,785 |
Class A | |
Net assets | $23,483,415 |
Shares outstanding | 2,558,047 |
Net asset value per share | $9.18 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.46 |
Advisor Class | |
Net assets | $1,787,774 |
Shares outstanding | 194,790 |
Net asset value per share | $9.18 |
Class C | |
Net assets | $2,170,782 |
Shares outstanding | 236,254 |
Net asset value per share | $9.19 |
Institutional Class | |
Net assets | $21,580,530 |
Shares outstanding | 2,349,868 |
Net asset value per share | $9.18 |
Institutional 3 Class | |
Net assets | $26,501,284 |
Shares outstanding | 2,876,212 |
Net asset value per share | $9.21 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 11 |
Six Months Ended October 31, 2022 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $7,991 |
Interest | 1,315,466 |
Total income | 1,323,457 |
Expenses: | |
Management services fees | 216,683 |
Distribution and/or service fees | |
Class A | 31,297 |
Class C | 11,412 |
Transfer agent fees | |
Class A | 11,008 |
Advisor Class | 811 |
Class C | 1,008 |
Institutional Class | 21,520 |
Institutional 3 Class | 593 |
Compensation of board members | (13,096) |
Custodian fees | 674 |
Printing and postage fees | 5,442 |
Registration fees | 4,379 |
Audit fees | 15,233 |
Legal fees | 6,380 |
Interest on interfund lending | 60 |
Compensation of chief compliance officer | 9 |
Other | 5,573 |
Total expenses | 318,986 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (35,626) |
Expense reduction | (20) |
Total net expenses | 283,340 |
Net investment income | 1,040,117 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (1,889,305) |
Net realized loss | (1,889,305) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (1,641,096) |
Net change in unrealized appreciation (depreciation) | (1,641,096) |
Net realized and unrealized loss | (3,530,401) |
Net decrease in net assets resulting from operations | $(2,490,284) |
12 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
Six Months Ended October 31, 2022 (Unaudited) | Year Ended April 30, 2022 | |
Operations | ||
Net investment income | $1,040,117 | $2,170,203 |
Net realized loss | (1,889,305) | (534,992) |
Net change in unrealized appreciation (depreciation) | (1,641,096) | (8,912,527) |
Net decrease in net assets resulting from operations | (2,490,284) | (7,277,316) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (262,070) | (520,262) |
Advisor Class | (21,742) | (45,827) |
Class C | (15,310) | (26,727) |
Institutional Class | (524,397) | (1,439,379) |
Institutional 3 Class | (212,319) | (168,740) |
Total distributions to shareholders | (1,035,838) | (2,200,935) |
Decrease in net assets from capital stock activity | (19,757,387) | (10,767,276) |
Total decrease in net assets | (23,283,509) | (20,245,527) |
Net assets at beginning of period | 98,807,294 | 119,052,821 |
Net assets at end of period | $75,523,785 | $98,807,294 |
Six Months Ended | Year Ended | |||
October 31, 2022 (Unaudited) | April 30, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 393,182 | 3,749,783 | 258,794 | 2,666,032 |
Distributions reinvested | 21,764 | 205,499 | 41,737 | 426,534 |
Redemptions | (312,730) | (2,969,324) | (788,960) | (7,813,969) |
Net increase (decrease) | 102,216 | 985,958 | (488,429) | (4,721,403) |
Advisor Class | ||||
Subscriptions | 79,856 | 756,767 | 57,754 | 591,974 |
Distributions reinvested | 2,292 | 21,634 | 4,458 | 45,633 |
Redemptions | (17,654) | (167,880) | (223,370) | (2,250,609) |
Net increase (decrease) | 64,494 | 610,521 | (161,158) | (1,613,002) |
Class C | ||||
Subscriptions | 21,709 | 201,482 | 36,902 | 384,262 |
Distributions reinvested | 1,549 | 14,639 | 2,474 | 25,287 |
Redemptions | (43,488) | (412,898) | (64,961) | (670,935) |
Net decrease | (20,230) | (196,777) | (25,585) | (261,386) |
Institutional Class | ||||
Subscriptions | 145,403 | 1,513,285 | 789,145 | 8,118,864 |
Distributions reinvested | 24,210 | 228,742 | 39,612 | 404,088 |
Redemptions | (4,474,528) | (42,762,222) | (1,356,340) | (13,702,244) |
Net decrease | (4,304,915) | (41,020,195) | (527,583) | (5,179,292) |
Institutional 3 Class | ||||
Subscriptions | 3,235,134 | 30,994,697 | 260,869 | 2,669,058 |
Distributions reinvested | 3,408 | 32,304 | 6,527 | 66,969 |
Redemptions | (1,187,928) | (11,163,895) | (168,873) | (1,728,220) |
Net increase | 2,050,614 | 19,863,106 | 98,523 | 1,007,807 |
Total net decrease | (2,107,821) | (19,757,387) | (1,104,232) | (10,767,276) |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 13 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.57 | 0.10 | (0.39) | (0.29) | (0.10) | (0.10) |
Year Ended 4/30/2022 | $10.41 | 0.17 | (0.83) | (0.66) | (0.18) | (0.18) |
Year Ended 4/30/2021 | $10.09 | 0.19 | 0.32 | 0.51 | (0.19) | (0.19) |
Year Ended 4/30/2020 | $10.17 | 0.22 | (0.07) | 0.15 | (0.23) | (0.23) |
Year Ended 4/30/2019 | $9.94 | 0.24 | 0.24 | 0.48 | (0.25) | (0.25) |
Year Ended 4/30/2018 | $10.16 | 0.25 | (0.20) | 0.05 | (0.27) | (0.27) |
Advisor Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.57 | 0.11 | (0.39) | (0.28) | (0.11) | (0.11) |
Year Ended 4/30/2022 | $10.41 | 0.20 | (0.84) | (0.64) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.09 | 0.21 | 0.32 | 0.53 | (0.21) | (0.21) |
Year Ended 4/30/2020 | $10.16 | 0.25 | (0.06) | 0.19 | (0.26) | (0.26) |
Year Ended 4/30/2019 | $9.94 | 0.26 | 0.24 | 0.50 | (0.28) | (0.28) |
Year Ended 4/30/2018 | $10.15 | 0.27 | (0.19) | 0.08 | (0.29) | (0.29) |
Class C | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.57 | 0.06 | (0.38) | (0.32) | (0.06) | (0.06) |
Year Ended 4/30/2022 | $10.42 | 0.10 | (0.85) | (0.75) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.10 | 0.11 | 0.32 | 0.43 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.17 | 0.15 | (0.07) | 0.08 | (0.15) | (0.15) |
Year Ended 4/30/2019 | $9.94 | 0.16 | 0.25 | 0.41 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.16 | 0.17 | (0.20) | (0.03) | (0.19) | (0.19) |
Institutional Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.57 | 0.11 | (0.39) | (0.28) | (0.11) | (0.11) |
Year Ended 4/30/2022 | $10.42 | 0.20 | (0.85) | (0.65) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.09 | 0.21 | 0.33 | 0.54 | (0.21) | (0.21) |
Year Ended 4/30/2020 | $10.17 | 0.25 | (0.07) | 0.18 | (0.26) | (0.26) |
Year Ended 4/30/2019 | $9.94 | 0.26 | 0.25 | 0.51 | (0.28) | (0.28) |
Year Ended 4/30/2018 | $10.16 | 0.27 | (0.20) | 0.07 | (0.29) | (0.29) |
14 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.18 | (3.05%) | 0.86%(c),(d) | 0.78%(c),(d),(e) | 2.10%(c) | 2% | $23,483 |
Year Ended 4/30/2022 | $9.57 | (6.47%) | 0.92%(d) | 0.80%(d),(e) | 1.70% | 13% | $23,491 |
Year Ended 4/30/2021 | $10.41 | 5.05% | 0.95% | 0.81%(e) | 1.80% | 10% | $30,657 |
Year Ended 4/30/2020 | $10.09 | 1.46% | 0.91% | 0.81%(e) | 2.15% | 9% | $24,421 |
Year Ended 4/30/2019 | $10.17 | 4.93% | 0.93% | 0.81%(e) | 2.37% | 9% | $21,999 |
Year Ended 4/30/2018 | $9.94 | 0.43% | 0.93% | 0.81%(e) | 2.41% | 7% | $23,050 |
Advisor Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.18 | (2.93%) | 0.61%(c),(d) | 0.53%(c),(d),(e) | 2.35%(c) | 2% | $1,788 |
Year Ended 4/30/2022 | $9.57 | (6.24%) | 0.67%(d) | 0.55%(d),(e) | 1.93% | 13% | $1,246 |
Year Ended 4/30/2021 | $10.41 | 5.31% | 0.70% | 0.56%(e) | 2.05% | 10% | $3,034 |
Year Ended 4/30/2020 | $10.09 | 1.82% | 0.65% | 0.56%(e) | 2.40% | 9% | $2,322 |
Year Ended 4/30/2019 | $10.16 | 5.09% | 0.68% | 0.56%(e) | 2.62% | 9% | $1,854 |
Year Ended 4/30/2018 | $9.94 | 0.78% | 0.68% | 0.56%(e) | 2.66% | 7% | $1,984 |
Class C | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.19 | (3.31%) | 1.61%(c),(d) | 1.53%(c),(d),(e) | 1.34%(c) | 2% | $2,171 |
Year Ended 4/30/2022 | $9.57 | (7.26%) | 1.67%(d) | 1.55%(d),(e) | 0.95% | 13% | $2,456 |
Year Ended 4/30/2021 | $10.42 | 4.26% | 1.70% | 1.56%(e) | 1.07% | 10% | $2,940 |
Year Ended 4/30/2020 | $10.10 | 0.80% | 1.66% | 1.56%(e) | 1.41% | 9% | $5,039 |
Year Ended 4/30/2019 | $10.17 | 4.14% | 1.68% | 1.56%(e) | 1.62% | 9% | $8,669 |
Year Ended 4/30/2018 | $9.94 | (0.32%) | 1.68% | 1.56%(e) | 1.66% | 7% | $10,759 |
Institutional Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.18 | (2.93%) | 0.61%(c),(d) | 0.54%(c),(d),(e) | 2.30%(c) | 2% | $21,581 |
Year Ended 4/30/2022 | $9.57 | (6.32%) | 0.67%(d) | 0.55%(d),(e) | 1.95% | 13% | $63,686 |
Year Ended 4/30/2021 | $10.42 | 5.41% | 0.70% | 0.56%(e) | 2.05% | 10% | $74,822 |
Year Ended 4/30/2020 | $10.09 | 1.72% | 0.66% | 0.56%(e) | 2.40% | 9% | $69,733 |
Year Ended 4/30/2019 | $10.17 | 5.19% | 0.68% | 0.56%(e) | 2.62% | 9% | $70,343 |
Year Ended 4/30/2018 | $9.94 | 0.68% | 0.68% | 0.56%(e) | 2.66% | 7% | $77,773 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.60 | 0.12 | (0.39) | (0.27) | (0.12) | (0.12) |
Year Ended 4/30/2022 | $10.45 | 0.21 | (0.85) | (0.64) | (0.21) | (0.21) |
Year Ended 4/30/2021 | $10.13 | 0.23 | 0.32 | 0.55 | (0.23) | (0.23) |
Year Ended 4/30/2020 | $10.21 | 0.26 | (0.07) | 0.19 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $9.98 | 0.27 | 0.25 | 0.52 | (0.29) | (0.29) |
Year Ended 4/30/2018 | $10.19 | 0.28 | (0.19) | 0.09 | (0.30) | (0.30) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
16 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.21 | (2.88%) | 0.55%(c),(d) | 0.46%(c),(d) | 2.49%(c) | 2% | $26,501 |
Year Ended 4/30/2022 | $9.60 | (6.20%) | 0.56%(d) | 0.45%(d) | 2.05% | 13% | $7,928 |
Year Ended 4/30/2021 | $10.45 | 5.42% | 0.59% | 0.45% | 2.16% | 10% | $7,600 |
Year Ended 4/30/2020 | $10.13 | 1.83% | 0.53% | 0.45% | 2.50% | 9% | $5,913 |
Year Ended 4/30/2019 | $10.21 | 5.30% | 0.57% | 0.45% | 2.73% | 9% | $852 |
Year Ended 4/30/2018 | $9.98 | 0.91% | 0.56% | 0.45% | 2.79% | 7% | $747 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 17 |
October 31, 2022 (Unaudited)
18 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 19 |
October 31, 2022 (Unaudited)
20 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 1,264 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 21 |
October 31, 2022 (Unaudited)
September 1, 2022 through August 31, 2023 | Prior to September 1, 2022 | |
Class A | 0.81% | 0.81% |
Advisor Class | 0.56 | 0.56 |
Class C | 1.56 | 1.56 |
Institutional Class | 0.56 | 0.56 |
Institutional 3 Class | 0.47 | 0.45 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
79,545,000 | 130,000 | (4,124,000) | (3,994,000) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(536,199) | (528,009) | (1,064,208) |
22 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 600,000 | 3.57 | 1 |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 23 |
October 31, 2022 (Unaudited)
24 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 25 |
October 31, 2022 (Unaudited)
26 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 27 |
(Unaudited)
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
28 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 29 |
(Unaudited)
On June 23, 2022, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
30 | Columbia South Carolina Intermediate Municipal Bond Fund | Semiannual 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.
October 31, 2022 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2022) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/14/92 | -2.84 | -9.56 | -0.17 | 0.70 |
Including sales charges | -5.74 | -12.31 | -0.77 | 0.39 | ||
Advisor Class* | 03/19/13 | -2.72 | -9.36 | 0.06 | 0.93 | |
Class C | Excluding sales charges | 12/16/92 | -3.31 | -10.33 | -0.93 | -0.06 |
Including sales charges | -4.27 | -11.22 | -0.93 | -0.06 | ||
Institutional Class | 12/11/92 | -2.72 | -9.34 | 0.08 | 0.94 | |
Institutional 3 Class* | 03/01/17 | -2.67 | -9.25 | 0.16 | 0.99 | |
Bloomberg 3-15 Year Blend Municipal Bond Index | -2.64 | -9.62 | 0.64 | 1.66 |
* | 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. 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 North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2022) | |
AAA rating | 8.4 |
AA rating | 49.7 |
A rating | 26.5 |
BBB rating | 10.9 |
Not rated | 4.5 |
Total | 100.0 |
4 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
May 1, 2022 — October 31, 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 | 971.60 | 1,021.29 | 4.00 | 4.10 | 0.80 |
Advisor Class | 1,000.00 | 1,000.00 | 972.80 | 1,022.55 | 2.75 | 2.82 | 0.55 |
Class C | 1,000.00 | 1,000.00 | 966.90 | 1,017.49 | 7.73 | 7.92 | 1.55 |
Institutional Class | 1,000.00 | 1,000.00 | 972.80 | 1,022.55 | 2.75 | 2.82 | 0.55 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 973.30 | 1,022.91 | 2.40 | 2.46 | 0.48 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 5 |
October 31, 2022 (Unaudited)
Municipal Bonds 98.4% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 2.8% | ||||
City of Charlotte Airport(a) | ||||
Revenue Bonds | ||||
Charlotte Douglas International | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 1,195,000 | 1,200,110 | |
City of Charlotte Airport | ||||
Revenue Bonds | ||||
Series 2017A | ||||
07/01/2028 | 5.000% | 500,000 | 529,342 | |
Raleigh Durham Airport Authority(a) | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
05/01/2036 | 5.000% | 1,000,000 | 993,592 | |
Total | 2,723,044 | |||
Higher Education 9.2% | ||||
Appalachian State University | ||||
Revenue Bonds | ||||
Series 2018 | ||||
05/01/2035 | 5.000% | 1,095,000 | 1,147,572 | |
North Carolina Agricultural & Technical State University | ||||
Refunding Revenue Bonds | ||||
General Purpose | ||||
Series 2015A | ||||
10/01/2032 | 5.000% | 2,000,000 | 2,059,910 | |
North Carolina Capital Facilities Finance Agency | ||||
Revenue Bonds | ||||
Wake Forest University | ||||
Series 2018 | ||||
01/01/2034 | 5.000% | 400,000 | 422,015 | |
North Carolina Central University | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
10/01/2029 | 4.000% | 625,000 | 622,625 | |
Revenue Bonds | ||||
Series 2019 | ||||
04/01/2036 | 5.000% | 500,000 | 511,431 | |
04/01/2038 | 5.000% | 500,000 | 506,020 | |
North Carolina State University at Raleigh | ||||
Refunding Revenue Bonds | ||||
General | ||||
Series 2018 | ||||
10/01/2027 | 5.000% | 300,000 | 321,187 | |
10/01/2028 | 5.000% | 250,000 | 270,494 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
University of North Carolina at Charlotte (The) | ||||
Refunding Revenue Bonds | ||||
Governors | ||||
Series 2020A | ||||
10/01/2035 | 4.000% | 200,000 | 190,572 | |
10/01/2037 | 4.000% | 300,000 | 278,213 | |
Revenue Bonds | ||||
Board of Governors | ||||
Series 2017 | ||||
10/01/2029 | 5.000% | 500,000 | 527,724 | |
University of North Carolina at Greensboro | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
04/01/2029 | 5.000% | 390,000 | 407,001 | |
04/01/2030 | 5.000% | 250,000 | 260,409 | |
University of North Carolina at Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
10/01/2034 | 5.000% | 355,000 | 373,953 | |
Western Carolina University | ||||
Revenue Bonds | ||||
General | ||||
Series 2018 | ||||
10/01/2033 | 5.000% | 250,000 | 260,929 | |
10/01/2034 | 5.000% | 575,000 | 598,614 | |
Total | 8,758,669 | |||
Hospital 2.3% | ||||
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Novant Health Obligation Group | ||||
Series 2013 | ||||
11/01/2024 | 5.000% | 530,000 | 530,622 | |
Revenue Bonds | ||||
Rex Healthcare | ||||
Series 2015A | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,023,492 | |
Wake Forest Baptist Obligation Group | ||||
Series 2019 | ||||
12/01/2033 | 5.000% | 595,000 | 611,108 | |
Total | 2,165,222 | |||
Joint Power Authority 2.2% | ||||
North Carolina Municipal Power Agency No. 1 | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2031 | 5.000% | 2,000,000 | 2,071,949 |
6 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local Appropriation 25.8% | ||||
City of Charlotte | ||||
Refunding Certificate of Participation | ||||
Series 2019B | ||||
06/01/2034 | 5.000% | 2,000,000 | 2,139,837 | |
City of Durham | ||||
Revenue Bonds | ||||
Series 2018 | ||||
04/01/2034 | 4.000% | 1,000,000 | 987,229 | |
City of Kannapolis | ||||
Revenue Bonds | ||||
Series 2014 | ||||
04/01/2031 | 5.000% | 1,365,000 | 1,389,575 | |
City of Monroe | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
03/01/2035 | 5.000% | 1,000,000 | 1,033,581 | |
City of Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
06/01/2028 | 5.000% | 500,000 | 512,441 | |
County of Brunswick | ||||
Revenue Bonds | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 250,000 | 259,994 | |
06/01/2029 | 5.000% | 250,000 | 259,688 | |
County of Catawba | ||||
Revenue Bonds | ||||
Series 2018 | ||||
12/01/2036 | 4.000% | 1,940,000 | 1,849,623 | |
County of Dare | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
06/01/2031 | 4.000% | 225,000 | 226,178 | |
County of Davidson | ||||
Revenue Bonds | ||||
Series 2020 | ||||
06/01/2037 | 4.000% | 400,000 | 379,286 | |
County of Gaston | ||||
Revenue Bonds | ||||
Series 2019A | ||||
04/01/2034 | 5.000% | 250,000 | 267,055 | |
04/01/2035 | 5.000% | 300,000 | 318,287 | |
County of Harnett | ||||
Revenue Bonds | ||||
Series 2019 | ||||
10/01/2037 | 4.000% | 955,000 | 872,861 | |
County of Henderson | ||||
Revenue Bonds | ||||
Series 2015 | ||||
10/01/2030 | 5.000% | 500,000 | 521,079 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Lee | ||||
Revenue Bonds | ||||
Series 2018 | ||||
05/01/2036 | 4.000% | 500,000 | 469,296 | |
County of Martin | ||||
Refunding Revenue Bonds | ||||
Water & Sewer District | ||||
Series 2014 | ||||
06/01/2030 | 4.000% | 730,000 | 734,089 | |
County of Onslow | ||||
Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 4.000% | 405,000 | 411,349 | |
County of Pender | ||||
Revenue Bonds | ||||
Series 2015 | ||||
04/01/2027 | 5.000% | 1,165,000 | 1,210,641 | |
04/01/2028 | 5.000% | 1,290,000 | 1,338,468 | |
County of Randolph | ||||
Refunding Revenue Bonds | ||||
Series 2013C | ||||
10/01/2026 | 5.000% | 1,500,000 | 1,590,126 | |
County of Sampson | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
09/01/2035 | 4.000% | 1,000,000 | 923,143 | |
County of Surry | ||||
Revenue Bonds | ||||
Series 2019 | ||||
06/01/2032 | 5.000% | 275,000 | 294,810 | |
06/01/2033 | 5.000% | 350,000 | 373,869 | |
County of Union | ||||
Refunding Revenue Bonds | ||||
Series 2012 | ||||
12/01/2024 | 5.000% | 1,715,000 | 1,774,247 | |
County of Wake | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
08/01/2036 | 4.000% | 2,000,000 | 1,945,620 | |
County of Wilkes | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 5.000% | 500,000 | 516,966 | |
06/01/2029 | 5.000% | 500,000 | 517,125 | |
Durham Capital Financing Corp. | ||||
Revenue Bonds | ||||
Series 2018 | ||||
10/01/2035 | 4.000% | 1,500,000 | 1,460,059 | |
Total | 24,576,522 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 7 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local General Obligation 2.4% | ||||
County of Durham | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
06/01/2032 | 5.000% | 620,000 | 674,838 | |
County of Wake | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2019A | ||||
03/01/2033 | 5.000% | 1,500,000 | 1,623,133 | |
Total | 2,297,971 | |||
Multi-Family 7.3% | ||||
North Carolina Capital Facilities Finance Agency | ||||
Refunding Revenue Bonds | ||||
North Carolina A&T University Foundation Project | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 1,000,000 | 1,030,051 | |
The Arc of North Carolina | ||||
Series 2017 | ||||
10/01/2034 | 5.000% | 1,500,000 | 1,507,716 | |
University of North Carolina at Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2029 | 5.000% | 2,000,000 | 2,066,005 | |
Western Carolina University | ||||
Limited General Obligation Refunding Revenue Bonds | ||||
Student Housing | ||||
Series 2016 (AGM) | ||||
06/01/2027 | 5.000% | 500,000 | 522,966 | |
06/01/2028 | 5.000% | 1,000,000 | 1,042,224 | |
06/01/2029 | 5.000% | 800,000 | 830,823 | |
Total | 6,999,785 | |||
Municipal Power 2.5% | ||||
City of Fayetteville Public Works Commission | ||||
Revenue Bonds | ||||
Series 2014 | ||||
03/01/2027 | 4.000% | 1,250,000 | 1,260,351 | |
Greenville Utilities Commission | ||||
Revenue Bonds | ||||
Series 2019 | ||||
08/01/2032 | 5.000% | 625,000 | 676,457 | |
08/01/2033 | 5.000% | 400,000 | 430,052 | |
Total | 2,366,860 | |||
Refunded / Escrowed 6.5% | ||||
City of Winston-Salem | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
Series 2014C | ||||
06/01/2029 | 5.000% | 750,000 | 770,307 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of New Hanover | ||||
Prerefunded 10/01/27 Revenue Bonds | ||||
New Hanover Regional Medical Center | ||||
Series 2017 | ||||
10/01/2030 | 5.000% | 1,200,000 | 1,288,681 | |
County of Wake | ||||
Prerefunded 10/01/26 Revenue Bonds | ||||
Series 1993 (NPFGC) | ||||
10/01/2026 | 5.125% | 1,040,000 | 1,078,162 | |
North Carolina Medical Care Commission | ||||
Prerefunded 06/01/25 Revenue Bonds | ||||
Vidant Health | ||||
Series 2015 | ||||
06/01/2030 | 5.000% | 1,000,000 | 1,037,784 | |
University of North Carolina at Greensboro | ||||
Prerefunded 04/01/24 Revenue Bonds | ||||
General | ||||
Series 2014 | ||||
04/01/2032 | 5.000% | 2,000,000 | 2,037,654 | |
Total | 6,212,588 | |||
Retirement Communities 8.6% | ||||
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Pennybyrn at Maryfield | ||||
Series 2015 | ||||
10/01/2025 | 5.000% | 465,000 | 466,855 | |
Retirement Facilities 1st Mortgage | ||||
Series 2019 | ||||
01/01/2039 | 5.000% | 1,000,000 | 855,676 | |
Sharon Towers | ||||
Series 2019A | ||||
07/01/2033 | 5.000% | 1,000,000 | 954,552 | |
Southminster, Inc. | ||||
Series 2016 | ||||
10/01/2025 | 5.000% | 1,260,000 | 1,253,209 | |
United Methodist Retirement | ||||
Series 2016 | ||||
10/01/2030 | 5.000% | 700,000 | 703,673 | |
Revenue Bonds | ||||
Pennybyrn at Maryfield Project | ||||
Series 2020B-2 | ||||
10/01/2024 | 2.500% | 745,000 | 714,923 | |
Presbyterian Homes Obligated Group (The) | ||||
Series 2020 | ||||
10/01/2035 | 4.000% | 650,000 | 565,593 | |
The Pines at Davidson Project | ||||
Series 2019 | ||||
01/01/2038 | 5.000% | 1,000,000 | 981,182 |
8 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Twin Lakes Community | ||||
Series 2019A | ||||
01/01/2038 | 5.000% | 1,750,000 | 1,686,797 | |
Total | 8,182,460 | |||
Sales Tax 1.1% | ||||
City of Rocky Mount | ||||
Revenue Bonds | ||||
Series 2016 | ||||
05/01/2028 | 5.000% | 1,000,000 | 1,051,436 | |
Single Family 5.7% | ||||
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Home Ownership | ||||
Series 2021-47 (GNMA) | ||||
01/01/2029 | 1.250% | 1,990,000 | 1,665,379 | |
07/01/2029 | 1.350% | 1,885,000 | 1,565,862 | |
Series 2017-38B (GNMA) | ||||
07/01/2037 | 3.850% | 1,195,000 | 1,159,965 | |
Series 2019-41 (GNMA) | ||||
07/01/2034 | 3.100% | 515,000 | 453,634 | |
Series 2019-42 | ||||
07/01/2039 | 2.625% | 795,000 | 588,773 | |
Series 44 | ||||
01/01/2027 | 1.950% | 30,000 | 27,217 | |
Total | 5,460,830 | |||
State Appropriated 2.2% | ||||
State of North Carolina | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
06/01/2025 | 5.000% | 2,000,000 | 2,083,607 | |
Transportation 2.4% | ||||
State of North Carolina | ||||
Revenue Bonds | ||||
Series 2019 | ||||
03/01/2033 | 5.000% | 1,250,000 | 1,337,241 | |
Vehicle - GARVEE | ||||
Series 2015 | ||||
03/01/2027 | 5.000% | 900,000 | 930,826 | |
Total | 2,268,067 | |||
Turnpike / Bridge / Toll Road 5.8% | ||||
North Carolina Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 | ||||
01/01/2030 | 5.000% | 1,700,000 | 1,715,005 | |
01/01/2032 | 5.000% | 1,450,000 | 1,456,356 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2017 (AGM) | ||||
01/01/2031 | 5.000% | 750,000 | 779,598 | |
North Carolina Turnpike Authority(b) | ||||
Refunding Revenue Bonds | ||||
Series 2016C | ||||
07/01/2029 | 0.000% | 750,000 | 539,729 | |
Revenue Bonds | ||||
Series 2017C | ||||
07/01/2030 | 0.000% | 550,000 | 375,170 | |
07/01/2031 | 0.000% | 1,100,000 | 707,024 | |
Total | 5,572,882 | |||
Water & Sewer 11.6% | ||||
City of Charlotte Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2018 | ||||
07/01/2035 | 4.000% | 2,000,000 | 1,966,185 | |
City of Gastonia Combined Utilities System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/01/2029 | 5.000% | 265,000 | 274,969 | |
05/01/2030 | 5.000% | 660,000 | 684,327 | |
City of Jacksonville Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
05/01/2028 | 5.250% | 250,000 | 272,662 | |
City of Raleigh Combined Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
12/01/2025 | 5.000% | 1,200,000 | 1,261,630 | |
City of Winston-Salem Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
06/01/2033 | 4.000% | 2,165,000 | 2,178,039 | |
Revenue Bonds | ||||
Series 2017 | ||||
06/01/2031 | 4.000% | 400,000 | 406,163 | |
County of Brunswick Enterprise Systems | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
04/01/2027 | 5.000% | 1,500,000 | 1,558,766 | |
County of Dare Utilities System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
02/01/2032 | 4.000% | 300,000 | 299,175 | |
County of Union Enterprise System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
06/01/2029 | 5.000% | 500,000 | 522,942 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 9 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Onslow Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
12/01/2031 | 4.000% | 820,000 | 823,784 | |
Town of Fuquay-Varina Combined Utilities System | ||||
Revenue Bonds | ||||
Series 2016 | ||||
04/01/2030 | 5.000% | 335,000 | 351,653 | |
04/01/2031 | 5.000% | 450,000 | 471,098 | |
Total | 11,071,393 | |||
Total Municipal Bonds (Cost $99,468,699) | 93,863,285 |
Money Market Funds 0.9% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 2.007%(c) | 43,231 | 43,227 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 2.030%(c) | 824,306 | 824,306 |
Total Money Market Funds (Cost $867,537) | 867,533 | |
Total Investments in Securities (Cost: $100,336,236) | 94,730,818 | |
Other Assets & Liabilities, Net | 625,914 | |
Net Assets | 95,356,732 |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | Zero coupon bond. |
(c) | The rate shown is the seven-day current annualized yield at October 31, 2022. |
AGM | Assured Guaranty Municipal Corporation |
GNMA | Government National Mortgage Association |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
10 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
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 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. Representatives of Columbia Management Investment Advisers, LLC report to 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 | ||||
Municipal Bonds | — | 93,863,285 | — | 93,863,285 |
Money Market Funds | 867,533 | — | — | 867,533 |
Total Investments in Securities | 867,533 | 93,863,285 | — | 94,730,818 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 11 |
October 31, 2022 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $100,336,236) | $94,730,818 |
Cash | 395 |
Receivable for: | |
Capital shares sold | 78,185 |
Interest | 1,138,816 |
Expense reimbursement due from Investment Manager | 630 |
Prepaid expenses | 7,686 |
Other assets | 294 |
Total assets | 95,956,824 |
Liabilities | |
Payable for: | |
Capital shares purchased | 265,128 |
Distributions to shareholders | 208,960 |
Management services fees | 3,689 |
Distribution and/or service fees | 339 |
Transfer agent fees | 2,647 |
Compensation of board members | 103,695 |
Compensation of chief compliance officer | 12 |
Other expenses | 15,622 |
Total liabilities | 600,092 |
Net assets applicable to outstanding capital stock | $95,356,732 |
Represented by | |
Paid in capital | 105,537,334 |
Total distributable earnings (loss) | (10,180,602) |
Total - representing net assets applicable to outstanding capital stock | $95,356,732 |
Class A | |
Net assets | $11,623,328 |
Shares outstanding | 1,243,708 |
Net asset value per share | $9.35 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.64 |
Advisor Class | |
Net assets | $2,524,985 |
Shares outstanding | 270,593 |
Net asset value per share | $9.33 |
Class C | |
Net assets | $1,239,915 |
Shares outstanding | 132,711 |
Net asset value per share | $9.34 |
Institutional Class | |
Net assets | $21,280,943 |
Shares outstanding | 2,279,274 |
Net asset value per share | $9.34 |
Institutional 3 Class | |
Net assets | $58,687,561 |
Shares outstanding | 6,266,005 |
Net asset value per share | $9.37 |
12 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
Six Months Ended October 31, 2022 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $5,451 |
Interest | 1,740,855 |
Total income | 1,746,306 |
Expenses: | |
Management services fees | 296,568 |
Distribution and/or service fees | |
Class A | 19,024 |
Class C | 8,465 |
Transfer agent fees | |
Class A | 5,682 |
Advisor Class | 1,019 |
Class C | 632 |
Institutional Class | 8,591 |
Institutional 3 Class | 2,561 |
Compensation of board members | (13,352) |
Custodian fees | 810 |
Printing and postage fees | 5,930 |
Registration fees | 8,086 |
Audit fees | 15,233 |
Legal fees | 6,634 |
Interest on interfund lending | 1,666 |
Compensation of chief compliance officer | 12 |
Other | 5,968 |
Total expenses | 373,529 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (25,973) |
Total net expenses | 347,556 |
Net investment income | 1,398,750 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (3,783,164) |
Net realized loss | (3,783,164) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (588,214) |
Net change in unrealized appreciation (depreciation) | (588,214) |
Net realized and unrealized loss | (4,371,378) |
Net decrease in net assets resulting from operations | $(2,972,628) |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 13 |
Six Months Ended October 31, 2022 (Unaudited) | Year Ended April 30, 2022 | |
Operations | ||
Net investment income | $1,398,750 | $3,630,876 |
Net realized loss | (3,783,164) | (460,218) |
Net change in unrealized appreciation (depreciation) | (588,214) | (16,041,904) |
Net decrease in net assets resulting from operations | (2,972,628) | (12,871,246) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (149,860) | (283,914) |
Advisor Class | (30,349) | (62,331) |
Class C | (10,290) | (21,526) |
Institutional Class | (255,622) | (495,087) |
Institutional 3 Class | (943,325) | (2,777,311) |
Total distributions to shareholders | (1,389,446) | (3,640,169) |
Decrease in net assets from capital stock activity | (60,809,140) | (18,411,052) |
Total decrease in net assets | (65,171,214) | (34,922,467) |
Net assets at beginning of period | 160,527,946 | 195,450,413 |
Net assets at end of period | $95,356,732 | $160,527,946 |
14 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
Six Months Ended | Year Ended | |||
October 31, 2022 (Unaudited) | April 30, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 72,415 | 696,657 | 131,657 | 1,339,765 |
Distributions reinvested | 12,929 | 124,687 | 22,081 | 230,301 |
Redemptions | (476,883) | (4,548,509) | (173,908) | (1,803,504) |
Net decrease | (391,539) | (3,727,165) | (20,170) | (233,438) |
Advisor Class | ||||
Subscriptions | 39,515 | 380,739 | 47,588 | 504,984 |
Distributions reinvested | 3,145 | 30,246 | 5,963 | 62,141 |
Redemptions | (69,837) | (673,164) | (75,134) | (789,925) |
Net decrease | (27,177) | (262,179) | (21,583) | (222,800) |
Class C | ||||
Subscriptions | 5,805 | 56,865 | 19,227 | 204,915 |
Distributions reinvested | 953 | 9,193 | 1,840 | 19,188 |
Redemptions | (68,788) | (661,366) | (64,901) | (666,623) |
Net decrease | (62,030) | (595,308) | (43,834) | (442,520) |
Institutional Class | ||||
Subscriptions | 390,444 | 3,771,430 | 516,703 | 5,310,747 |
Distributions reinvested | 23,111 | 222,536 | 40,420 | 420,845 |
Redemptions | (662,629) | (6,412,587) | (485,514) | (4,986,226) |
Net increase (decrease) | (249,074) | (2,418,621) | 71,609 | 745,366 |
Institutional 3 Class | ||||
Subscriptions | 145,783 | 1,400,341 | 662,796 | 7,037,929 |
Distributions reinvested | 3,324 | 32,079 | 5,911 | 61,644 |
Redemptions | (5,722,844) | (55,238,287) | (2,481,764) | (25,357,233) |
Net decrease | (5,573,737) | (53,805,867) | (1,813,057) | (18,257,660) |
Total net decrease | (6,303,557) | (60,809,140) | (1,827,035) | (18,411,052) |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.72 | 0.10 | (0.37) | (0.27) | (0.10) | (0.10) |
Year Ended 4/30/2022 | $10.65 | 0.17 | (0.93) | (0.76) | (0.17) | (0.17) |
Year Ended 4/30/2021 | $10.27 | 0.18 | 0.38 | 0.56 | (0.18) | (0.18) |
Year Ended 4/30/2020 | $10.33 | 0.21 | (0.06) | 0.15 | (0.21) | (0.21) |
Year Ended 4/30/2019 | $10.14 | 0.24 | 0.19 | 0.43 | (0.24) | (0.24) |
Year Ended 4/30/2018 | $10.33 | 0.24 | (0.19) | 0.05 | (0.24) | (0.24) |
Advisor Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.70 | 0.11 | (0.37) | (0.26) | (0.11) | (0.11) |
Year Ended 4/30/2022 | $10.64 | 0.20 | (0.94) | (0.74) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.26 | 0.20 | 0.38 | 0.58 | (0.20) | (0.20) |
Year Ended 4/30/2020 | $10.32 | 0.24 | (0.06) | 0.18 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.12 | 0.26 | 0.20 | 0.46 | (0.26) | (0.26) |
Year Ended 4/30/2018 | $10.32 | 0.27 | (0.20) | 0.07 | (0.27) | (0.27) |
Class C | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.72 | 0.06 | (0.38) | (0.32) | (0.06) | (0.06) |
Year Ended 4/30/2022 | $10.65 | 0.09 | (0.93) | (0.84) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.27 | 0.10 | 0.38 | 0.48 | (0.10) | (0.10) |
Year Ended 4/30/2020 | $10.33 | 0.13 | (0.06) | 0.07 | (0.13) | (0.13) |
Year Ended 4/30/2019 | $10.13 | 0.16 | 0.20 | 0.36 | (0.16) | (0.16) |
Year Ended 4/30/2018 | $10.33 | 0.16 | (0.20) | (0.04) | (0.16) | (0.16) |
Institutional Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.71 | 0.11 | (0.37) | (0.26) | (0.11) | (0.11) |
Year Ended 4/30/2022 | $10.64 | 0.20 | (0.93) | (0.73) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.26 | 0.20 | 0.38 | 0.58 | (0.20) | (0.20) |
Year Ended 4/30/2020 | $10.32 | 0.24 | (0.06) | 0.18 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.13 | 0.26 | 0.19 | 0.45 | (0.26) | (0.26) |
Year Ended 4/30/2018 | $10.32 | 0.27 | (0.19) | 0.08 | (0.27) | (0.27) |
16 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.35 | (2.84%) | 0.85%(c),(d) | 0.80%(c),(d) | 1.98%(c) | 0% | $11,623 |
Year Ended 4/30/2022 | $9.72 | (7.20%) | 0.86%(d) | 0.80%(d) | 1.65% | 6% | $15,892 |
Year Ended 4/30/2021 | $10.65 | 5.45% | 0.88% | 0.81% | 1.68% | 15% | $17,634 |
Year Ended 4/30/2020 | $10.27 | 1.43% | 0.85% | 0.81% | 2.01% | 7% | $17,176 |
Year Ended 4/30/2019 | $10.33 | 4.26% | 0.87%(e) | 0.81%(e) | 2.32% | 23% | $16,469 |
Year Ended 4/30/2018 | $10.14 | 0.48% | 0.88% | 0.81% | 2.33% | 10% | $18,035 |
Advisor Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.33 | (2.72%) | 0.59%(c),(d) | 0.55%(c),(d) | 2.23%(c) | 0% | $2,525 |
Year Ended 4/30/2022 | $9.70 | (7.07%) | 0.61%(d) | 0.55%(d) | 1.90% | 6% | $2,889 |
Year Ended 4/30/2021 | $10.64 | 5.72% | 0.63% | 0.56% | 1.93% | 15% | $3,396 |
Year Ended 4/30/2020 | $10.26 | 1.69% | 0.60% | 0.56% | 2.26% | 7% | $4,928 |
Year Ended 4/30/2019 | $10.32 | 4.62% | 0.62%(e) | 0.56%(e) | 2.57% | 23% | $5,505 |
Year Ended 4/30/2018 | $10.12 | 0.63% | 0.63% | 0.56% | 2.57% | 10% | $4,589 |
Class C | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.34 | (3.31%) | 1.60%(c),(d) | 1.55%(c),(d) | 1.22%(c) | 0% | $1,240 |
Year Ended 4/30/2022 | $9.72 | (7.90%) | 1.61%(d) | 1.55%(d) | 0.90% | 6% | $1,892 |
Year Ended 4/30/2021 | $10.65 | 4.67% | 1.62% | 1.55% | 0.93% | 15% | $2,541 |
Year Ended 4/30/2020 | $10.27 | 0.68% | 1.60% | 1.56% | 1.26% | 7% | $3,070 |
Year Ended 4/30/2019 | $10.33 | 3.58% | 1.62%(e) | 1.56%(e) | 1.57% | 23% | $4,096 |
Year Ended 4/30/2018 | $10.13 | (0.38%) | 1.63% | 1.56% | 1.58% | 10% | $5,338 |
Institutional Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.34 | (2.72%) | 0.60%(c),(d) | 0.55%(c),(d) | 2.23%(c) | 0% | $21,281 |
Year Ended 4/30/2022 | $9.71 | (6.98%) | 0.61%(d) | 0.55%(d) | 1.90% | 6% | $24,549 |
Year Ended 4/30/2021 | $10.64 | 5.72% | 0.63% | 0.56% | 1.93% | 15% | $26,145 |
Year Ended 4/30/2020 | $10.26 | 1.69% | 0.60% | 0.56% | 2.26% | 7% | $23,700 |
Year Ended 4/30/2019 | $10.32 | 4.52% | 0.62%(e) | 0.56%(e) | 2.57% | 23% | $22,897 |
Year Ended 4/30/2018 | $10.13 | 0.72% | 0.65% | 0.56% | 2.55% | 10% | $22,984 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual 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 | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.74 | 0.11 | (0.37) | (0.26) | (0.11) | (0.11) |
Year Ended 4/30/2022 | $10.67 | 0.21 | (0.93) | (0.72) | (0.21) | (0.21) |
Year Ended 4/30/2021 | $10.29 | 0.21 | 0.38 | 0.59 | (0.21) | (0.21) |
Year Ended 4/30/2020 | $10.36 | 0.25 | (0.07) | 0.18 | (0.25) | (0.25) |
Year Ended 4/30/2019 | $10.16 | 0.27 | 0.20 | 0.47 | (0.27) | (0.27) |
Year Ended 4/30/2018 | $10.35 | 0.28 | (0.19) | 0.09 | (0.28) | (0.28) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
18 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.37 | (2.67%) | 0.52%(c),(d) | 0.48%(c),(d) | 2.28%(c) | 0% | $58,688 |
Year Ended 4/30/2022 | $9.74 | (6.88%) | 0.53%(d) | 0.48%(d) | 1.98% | 6% | $115,305 |
Year Ended 4/30/2021 | $10.67 | 5.79% | 0.55% | 0.48% | 2.00% | 15% | $145,734 |
Year Ended 4/30/2020 | $10.29 | 1.67% | 0.52% | 0.48% | 2.34% | 7% | $141,450 |
Year Ended 4/30/2019 | $10.36 | 4.70% | 0.53%(e) | 0.48%(e) | 2.65% | 23% | $120,551 |
Year Ended 4/30/2018 | $10.16 | 0.83% | 0.54% | 0.48% | 2.68% | 10% | $117,741 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 19 |
October 31, 2022 (Unaudited)
20 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 21 |
October 31, 2022 (Unaudited)
22 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Effective rate (%) | |
Class A | 0.07 |
Advisor Class | 0.07 |
Class C | 0.07 |
Institutional Class | 0.07 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 1,414 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 23 |
October 31, 2022 (Unaudited)
September 1, 2022 through August 31, 2023 | Prior to September 1, 2022 | |
Class A | 0.81% | 0.81% |
Advisor Class | 0.56 | 0.56 |
Class C | 1.56 | 1.56 |
Institutional Class | 0.56 | 0.56 |
Institutional 3 Class | 0.50 | 0.48 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
100,336,000 | 121,000 | (5,726,000) | (5,605,000) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(528,605) | (1,000,076) | (1,528,681) |
24 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 1,315,789 | 2.48 | 19 |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 25 |
October 31, 2022 (Unaudited)
26 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 27 |
October 31, 2022 (Unaudited)
28 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 29 |
(Unaudited)
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
30 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual Report 2022 | 31 |
(Unaudited)
On June 23, 2022, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
32 | Columbia North Carolina Intermediate Municipal Bond Fund | Semiannual 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.
October 31, 2022 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2022) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/05/89 | -2.81 | -9.63 | -0.18 | 0.74 |
Including sales charges | -5.71 | -12.35 | -0.78 | 0.43 | ||
Advisor Class* | 03/19/13 | -2.68 | -9.39 | 0.09 | 1.01 | |
Class C | Excluding sales charges | 06/17/92 | -3.17 | -10.30 | -0.90 | 0.00 |
Including sales charges | -4.13 | -11.18 | -0.90 | 0.00 | ||
Institutional Class | 09/20/89 | -2.69 | -9.40 | 0.09 | 0.99 | |
Institutional 3 Class* | 03/01/17 | -2.64 | -9.39 | 0.16 | 1.04 | |
Bloomberg 3-15 Year Blend Municipal Bond Index | -2.64 | -9.62 | 0.64 | 1.66 |
* | 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. 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 Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2022) | |
AAA rating | 6.4 |
AA rating | 59.0 |
A rating | 19.1 |
BBB rating | 10.8 |
BB rating | 0.6 |
Not rated | 4.1 |
Total | 100.0 |
4 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
May 1, 2022 — October 31, 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 | 971.90 | 1,021.24 | 4.05 | 4.15 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 973.20 | 1,022.50 | 2.80 | 2.87 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 968.30 | 1,017.44 | 7.78 | 7.98 | 1.56 |
Institutional Class | 1,000.00 | 1,000.00 | 973.10 | 1,022.50 | 2.80 | 2.87 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 973.60 | 1,022.91 | 2.40 | 2.46 | 0.48 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 5 |
October 31, 2022 (Unaudited)
Municipal Bonds 97.7% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 9.1% | ||||
Capital Region Airport Commission | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
07/01/2034 | 4.000% | 1,125,000 | 1,049,288 | |
Metropolitan Washington Airports Authority(a) | ||||
Refunding Revenue Bonds | ||||
Airport System | ||||
Series 2019A | ||||
10/01/2033 | 5.000% | 2,000,000 | 2,024,290 | |
Forward Delivery | ||||
Series 2020A | ||||
10/01/2032 | 5.000% | 2,000,000 | 2,042,845 | |
Metropolitan Washington Airports Authority Aviation(a) | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
10/01/2031 | 5.000% | 1,500,000 | 1,541,718 | |
Norfolk Airport Authority | ||||
Revenue Bonds | ||||
Series 2019 | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,035,822 | |
Total | 7,693,963 | |||
Higher Education 7.4% | ||||
Amherst Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Educational Facilities Sweet Briar Institute | ||||
Series 2006 | ||||
09/01/2026 | 5.000% | 545,000 | 529,626 | |
Virginia College Building Authority | ||||
Revenue Bonds | ||||
Washington & Lee University Project | ||||
Series 1998 (NPFGC) | ||||
01/01/2026 | 5.250% | 2,555,000 | 2,604,060 | |
Virginia Commonwealth University | ||||
Refunding Revenue Bonds | ||||
General Pledge | ||||
Series 2018A | ||||
11/01/2031 | 5.000% | 400,000 | 430,606 | |
Virginia Polytechnic Institute & State University | ||||
Revenue Bonds | ||||
General Dorm and Dining Hall | ||||
Series 2015A | ||||
06/01/2027 | 4.000% | 2,650,000 | 2,691,542 | |
Total | 6,255,834 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Hospital 9.2% | ||||
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Hospital Center | ||||
Series 2020 | ||||
07/01/2033 | 5.000% | 400,000 | 417,471 | |
Lynchburg Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Centra Health Obligation Group | ||||
Series 2021 | ||||
01/01/2036 | 5.000% | 875,000 | 894,501 | |
Norfolk Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Sentara Healthcare | ||||
Series 2012B | ||||
11/01/2027 | 5.000% | 1,735,000 | 1,735,536 | |
Series 2018A (Mandatory Put 11/01/28) | ||||
11/01/2048 | 5.000% | 300,000 | 317,387 | |
Stafford County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Mary Washington Healthcare | ||||
Series 2016 | ||||
06/15/2030 | 5.000% | 1,300,000 | 1,327,413 | |
06/15/2033 | 5.000% | 200,000 | 202,625 | |
06/15/2035 | 5.000% | 1,000,000 | 1,003,174 | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
Sentara Healthcare | ||||
Series 2020 | ||||
11/01/2030 | 5.000% | 220,000 | 237,784 | |
11/01/2031 | 5.000% | 270,000 | 288,013 | |
Winchester Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Valley Health System Obligation Group | ||||
Series 2015 | ||||
01/01/2032 | 5.000% | 1,250,000 | 1,280,735 | |
Total | 7,704,639 | |||
Local Appropriation 3.3% | ||||
Fairfax County Economic Development Authority | ||||
Revenue Bonds | ||||
Metrorail Parking Systems | ||||
Series 2017 | ||||
04/01/2033 | 5.000% | 745,000 | 783,895 | |
Henry County Industrial Development Authority | ||||
Revenue Bonds | ||||
Public Facility Lease | ||||
Series 2018 | ||||
11/01/2036 | 4.000% | 1,000,000 | 939,164 |
6 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Loudoun County Economic Development Authority | ||||
Revenue Bonds | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,035,000 | 1,067,174 | |
Total | 2,790,233 | |||
Local General Obligation 4.9% | ||||
City of Alexandria Virginia | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017C | ||||
07/01/2030 | 4.000% | 1,000,000 | 1,034,623 | |
City of Richmond | ||||
Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2015B | ||||
03/01/2028 | 4.000% | 2,000,000 | 2,033,178 | |
County of Fairfax | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2019A | ||||
10/01/2035 | 5.000% | 1,000,000 | 1,071,817 | |
Total | 4,139,618 | |||
Multi-Family 2.2% | ||||
Virginia Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2020B (HUD) | ||||
03/01/2031 | 1.650% | 1,630,000 | 1,327,859 | |
Series 2020E | ||||
07/01/2035 | 2.100% | 650,000 | 496,758 | |
Total | 1,824,617 | |||
Other Bond Issue 1.2% | ||||
Montgomery County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Tech Foundation | ||||
Series 2017A | ||||
06/01/2029 | 5.000% | 200,000 | 214,365 | |
Western Regional Jail Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 750,000 | 785,600 | |
Total | 999,965 | |||
Pool / Bond Bank 1.2% | ||||
Virginia Resources Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Infrastructure Pooled | ||||
Series 2017F | ||||
11/01/2034 | 4.000% | 1,000,000 | 1,004,352 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Ports 2.0% | ||||
Virginia Port Authority Commonwealth Port Fund(a) | ||||
Refunding Revenue Bonds | ||||
Series 2020B | ||||
07/01/2028 | 5.000% | 1,615,000 | 1,715,377 | |
Refunded / Escrowed 10.0% | ||||
Chesapeake Bay Bridge & Tunnel District | ||||
Refunding Revenue Bonds | ||||
General Resolution | ||||
Series 1998 Escrowed to Maturity (NPFGC) | ||||
07/01/2025 | 5.500% | 4,000,000 | 4,151,322 | |
Greater Richmond Convention Center Authority | ||||
Prerefunded 06/15/25 Revenue Bonds | ||||
Series 2015 | ||||
06/15/2029 | 5.000% | 1,350,000 | 1,394,884 | |
06/15/2030 | 5.000% | 1,540,000 | 1,591,202 | |
Hampton Roads Transportation Accountability Commission | ||||
Prerefunded 01/01/28 Revenue Bonds | ||||
Senior Lien Hampton Roads Transportation Fund | ||||
Series 2018A | ||||
07/01/2032 | 5.000% | 1,150,000 | 1,242,631 | |
Total | 8,380,039 | |||
Retirement Communities 7.0% | ||||
Albemarle County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Westminster-Canterbury of the Blue Ridge | ||||
Series 2022 | ||||
06/01/2042 | 4.000% | 1,000,000 | 826,745 | |
Hanover County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Covenant Woods | ||||
Series 2018 | ||||
07/01/2038 | 5.000% | 380,000 | 358,289 | |
Henrico County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Westminster Canterbury of Richmond | ||||
Series 2020 | ||||
10/01/2033 | 4.000% | 500,000 | 460,266 | |
Westminster Canterbury Project | ||||
Series 2018 | ||||
10/01/2037 | 5.000% | 1,500,000 | 1,517,753 | |
Rockingham County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Sunnyside Presbyterian Home | ||||
Series 2020 | ||||
12/01/2039 | 5.000% | 2,000,000 | 1,954,997 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 7 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
National Senior Campuses | ||||
Series 2020 | ||||
01/01/2027 | 5.000% | 325,000 | 333,910 | |
01/01/2029 | 5.000% | 400,000 | 414,568 | |
Total | 5,866,528 | |||
Sales Tax 2.4% | ||||
Northern Virginia Transportation Authority | ||||
Revenue Bonds | ||||
Series 2014 | ||||
06/01/2032 | 5.000% | 2,000,000 | 2,049,487 | |
Special Property Tax 6.0% | ||||
Dulles Town Center Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Dulles Town Center Project | ||||
Series 2012 | ||||
03/01/2023 | 4.000% | 1,000,000 | 994,002 | |
Fairfax County Economic Development Authority | ||||
Refunding Special Tax Bonds | ||||
Silver Line Phase I Project | ||||
Series 2016 | ||||
04/01/2031 | 4.000% | 1,000,000 | 1,014,992 | |
04/01/2032 | 4.000% | 1,000,000 | 1,010,968 | |
Marquis Community Development Authority of York County(b),(c),(d) | ||||
Revenue Bonds | ||||
Convertible | ||||
Series 2015 | ||||
09/01/2045 | 7.500% | 644,000 | 282,802 | |
Marquis Community Development Authority of York County(c),(d) | ||||
Tax Allocation Bonds | ||||
Series 2007B | ||||
09/01/2041 | 5.625% | 2,084,000 | 903,472 | |
Marquis Community Development Authority of York County(e) | ||||
Tax Allocation Bonds | ||||
Series 2007C | ||||
09/01/2041 | 0.000% | 3,164,000 | 140,956 | |
Virginia Gateway Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Series 2012 | ||||
03/01/2025 | 5.000% | 690,000 | 674,849 | |
Total | 5,022,041 | |||
State Appropriated 7.3% | ||||
Virginia College Building Authority | ||||
Revenue Bonds | ||||
21st Century College Program | ||||
Series 2017 | ||||
02/01/2034 | 4.000% | 1,500,000 | 1,490,066 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Virginia Public Building Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
08/01/2035 | 4.000% | 1,500,000 | 1,501,820 | |
08/01/2036 | 4.000% | 1,500,000 | 1,488,500 | |
Series 2019A | ||||
08/01/2031 | 5.000% | 1,500,000 | 1,638,501 | |
Total | 6,118,887 | |||
Transportation 14.0% | ||||
Virginia Commonwealth Transportation Board | ||||
Refunding Revenue Bonds | ||||
GARVEE Notes | ||||
Series 2017 | ||||
03/15/2028 | 5.000% | 1,000,000 | 1,071,474 | |
Transportation Capital Projects | ||||
Series 2022 | ||||
05/15/2033 | 4.000% | 1,970,000 | 1,987,935 | |
Revenue Bonds | ||||
Series 2016 | ||||
05/15/2030 | 4.000% | 500,000 | 507,598 | |
Series 2018 | ||||
05/15/2036 | 4.000% | 2,000,000 | 1,945,452 | |
Washington Metropolitan Area Transit Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017A-1 | ||||
07/01/2029 | 5.000% | 2,500,000 | 2,664,550 | |
Revenue Bonds | ||||
Series 2017B | ||||
07/01/2034 | 5.000% | 2,000,000 | 2,088,728 | |
Series 2018 | ||||
07/01/2036 | 5.000% | 500,000 | 515,459 | |
07/01/2037 | 5.000% | 1,000,000 | 1,028,971 | |
Total | 11,810,167 | |||
Turnpike / Bridge / Toll Road 8.0% | ||||
Metropolitan Washington Airports Authority Dulles Toll Road(e) | ||||
Revenue Bonds | ||||
Capital Appreciation - 2nd Senior Lien | ||||
Series 2009B (AGM) | ||||
10/01/2023 | 0.000% | 5,000,000 | 4,830,289 | |
Virginia Small Business Financing Authority(a) | ||||
Refunding Revenue Bonds | ||||
Senior Lien - 95 Express Lanes LLC Project | ||||
Series 2022 | ||||
01/01/2038 | 5.000% | 500,000 | 485,528 | |
Senior Lien - I-495 HOT Lanes Project | ||||
Series 2022 | ||||
06/30/2038 | 5.000% | 300,000 | 300,002 | |
12/31/2038 | 5.000% | 300,000 | 296,734 |
8 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Senior Lien - Elizabeth River Crossings Opco LLC | ||||
Series 2022 | ||||
01/01/2038 | 4.000% | 1,000,000 | 857,268 | |
Total | 6,769,821 | |||
Water & Sewer 2.5% | ||||
Fairfax County Water Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
04/01/2029 | 5.000% | 2,000,000 | 2,139,037 | |
Total Municipal Bonds (Cost $89,837,397) | 82,284,605 |
Money Market Funds 1.3% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 2.007%(f) | 108,936 | 108,925 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 2.030%(f) | 1,021,601 | 1,021,601 |
Total Money Market Funds (Cost $1,130,537) | 1,130,526 | |
Total Investments in Securities (Cost: $90,967,934) | 83,415,131 | |
Other Assets & Liabilities, Net | 804,184 | |
Net Assets | 84,219,315 |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | 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 October 31, 2022, the total value of these securities amounted to $282,802, which represents 0.34% of total net assets. |
(c) | Partial payment received at last interest date. |
(d) | Represents a security in default. |
(e) | Zero coupon bond. |
(f) | The rate shown is the seven-day current annualized yield at October 31, 2022. |
AGM | Assured Guaranty Municipal Corporation |
HUD | Department of Housing and Urban Development |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 9 |
October 31, 2022 (Unaudited)
The Fund’s Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 82,284,605 | — | 82,284,605 |
Money Market Funds | 1,130,526 | — | — | 1,130,526 |
Total Investments in Securities | 1,130,526 | 82,284,605 | — | 83,415,131 |
10 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $90,967,934) | $83,415,131 |
Cash | 849 |
Receivable for: | |
Capital shares sold | 97,762 |
Interest | 1,063,472 |
Expense reimbursement due from Investment Manager | 820 |
Prepaid expenses | 7,386 |
Other assets | 1,295 |
Total assets | 84,586,715 |
Liabilities | |
Payable for: | |
Capital shares purchased | 34,000 |
Distributions to shareholders | 203,235 |
Management services fees | 3,264 |
Distribution and/or service fees | 547 |
Transfer agent fees | 4,108 |
Compensation of board members | 108,298 |
Compensation of chief compliance officer | 9 |
Other expenses | 13,939 |
Total liabilities | 367,400 |
Net assets applicable to outstanding capital stock | $84,219,315 |
Represented by | |
Paid in capital | 93,257,594 |
Total distributable earnings (loss) | (9,038,279) |
Total - representing net assets applicable to outstanding capital stock | $84,219,315 |
Class A | |
Net assets | $21,611,637 |
Shares outstanding | 2,306,022 |
Net asset value per share | $9.37 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.66 |
Advisor Class | |
Net assets | $2,722,714 |
Shares outstanding | 290,337 |
Net asset value per share | $9.38 |
Class C | |
Net assets | $1,170,860 |
Shares outstanding | 124,840 |
Net asset value per share | $9.38 |
Institutional Class | |
Net assets | $20,215,405 |
Shares outstanding | 2,157,606 |
Net asset value per share | $9.37 |
Institutional 3 Class | |
Net assets | $38,498,699 |
Shares outstanding | 4,098,833 |
Net asset value per share | $9.39 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 11 |
Six Months Ended October 31, 2022 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $8,451 |
Interest | 1,584,627 |
Total income | 1,593,078 |
Expenses: | |
Management services fees | 237,063 |
Distribution and/or service fees | |
Class A | 33,907 |
Class C | 6,136 |
Transfer agent fees | |
Class A | 12,224 |
Advisor Class | 1,235 |
Class C | 555 |
Institutional Class | 9,348 |
Institutional 3 Class | 1,498 |
Compensation of board members | (14,632) |
Custodian fees | 764 |
Printing and postage fees | 5,344 |
Registration fees | 8,182 |
Audit fees | 15,233 |
Legal fees | 6,432 |
Interest on interfund lending | 457 |
Compensation of chief compliance officer | 9 |
Other | 5,656 |
Total expenses | 329,411 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (27,064) |
Expense reduction | (20) |
Total net expenses | 302,327 |
Net investment income | 1,290,751 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (1,076,613) |
Net realized loss | (1,076,613) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (2,720,785) |
Net change in unrealized appreciation (depreciation) | (2,720,785) |
Net realized and unrealized loss | (3,797,398) |
Net decrease in net assets resulting from operations | $(2,506,647) |
12 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
Six Months Ended October 31, 2022 (Unaudited) | Year Ended April 30, 2022 | |
Operations | ||
Net investment income | $1,290,751 | $2,659,708 |
Net realized gain (loss) | (1,076,613) | 172,287 |
Net change in unrealized appreciation (depreciation) | (2,720,785) | (11,605,134) |
Net decrease in net assets resulting from operations | (2,506,647) | (8,773,139) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (297,394) | (662,548) |
Advisor Class | (33,419) | (69,204) |
Class C | (8,979) | (26,297) |
Institutional Class | (253,845) | (566,719) |
Institutional 3 Class | (617,134) | (1,925,905) |
Total distributions to shareholders | (1,210,771) | (3,250,673) |
Decrease in net assets from capital stock activity | (19,167,704) | (23,101,611) |
Total decrease in net assets | (22,885,122) | (35,125,423) |
Net assets at beginning of period | 107,104,437 | 142,229,860 |
Net assets at end of period | $84,219,315 | $107,104,437 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 13 |
Six Months Ended | Year Ended | |||
October 31, 2022 (Unaudited) | April 30, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,055,486 | 10,372,476 | 334,671 | 3,552,896 |
Distributions reinvested | 22,176 | 214,403 | 43,654 | 459,916 |
Redemptions | (1,399,811) | (13,539,490) | (483,983) | (5,010,014) |
Net decrease | (322,149) | (2,952,611) | (105,658) | (997,202) |
Advisor Class | ||||
Subscriptions | 53,639 | 515,115 | 212,914 | 2,282,013 |
Distributions reinvested | 3,132 | 30,263 | 5,397 | 56,657 |
Redemptions | (61,647) | (595,161) | (130,437) | (1,375,418) |
Net increase (decrease) | (4,876) | (49,783) | 87,874 | 963,252 |
Class C | ||||
Subscriptions | 12,363 | 119,051 | 10,425 | 112,380 |
Distributions reinvested | 896 | 8,648 | 2,363 | 25,037 |
Redemptions | (16,241) | (157,777) | (67,262) | (712,524) |
Net decrease | (2,982) | (30,078) | (54,474) | (575,107) |
Institutional Class | ||||
Subscriptions | 407,274 | 3,941,046 | 229,441 | 2,443,592 |
Distributions reinvested | 20,886 | 201,582 | 42,088 | 443,610 |
Redemptions | (306,302) | (2,961,703) | (488,357) | (5,156,820) |
Net increase (decrease) | 121,858 | 1,180,925 | (216,828) | (2,269,618) |
Institutional 3 Class | ||||
Subscriptions | 197,725 | 1,908,736 | 301,861 | 3,227,555 |
Distributions reinvested | 3,998 | 38,665 | 8,388 | 88,741 |
Redemptions | (1,986,203) | (19,263,558) | (2,246,602) | (23,539,232) |
Net decrease | (1,784,480) | (17,316,157) | (1,936,353) | (20,222,936) |
Total net decrease | (1,992,629) | (19,167,704) | (2,225,439) | (23,101,611) |
14 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.75 | 0.12 | (0.39) | (0.27) | (0.11) | — | (0.11) |
Year Ended 4/30/2022 | $10.76 | 0.19 | (0.96) | (0.77) | (0.20) | (0.04) | (0.24) |
Year Ended 4/30/2021 | $10.43 | 0.22 | 0.34 | 0.56 | (0.22) | (0.01) | (0.23) |
Year Ended 4/30/2020 | $10.55 | 0.26 | (0.11) | 0.15 | (0.27) | (0.00)(f) | (0.27) |
Year Ended 4/30/2019 | $10.44 | 0.27 | 0.21 | 0.48 | (0.29) | (0.08) | (0.37) |
Year Ended 4/30/2018 | $10.79 | 0.27 | (0.31) | (0.04) | (0.28) | (0.03) | (0.31) |
Advisor Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.76 | 0.13 | (0.39) | (0.26) | (0.12) | — | (0.12) |
Year Ended 4/30/2022 | $10.77 | 0.21 | (0.96) | (0.75) | (0.22) | (0.04) | (0.26) |
Year Ended 4/30/2021 | $10.43 | 0.25 | 0.35 | 0.60 | (0.25) | (0.01) | (0.26) |
Year Ended 4/30/2020 | $10.55 | 0.29 | (0.12) | 0.17 | (0.29) | (0.00)(f) | (0.29) |
Year Ended 4/30/2019 | $10.44 | 0.30 | 0.20 | 0.50 | (0.31) | (0.08) | (0.39) |
Year Ended 4/30/2018 | $10.79 | 0.30 | (0.31) | (0.01) | (0.31) | (0.03) | (0.34) |
Class C | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.76 | 0.08 | (0.39) | (0.31) | (0.07) | — | (0.07) |
Year Ended 4/30/2022 | $10.77 | 0.11 | (0.96) | (0.85) | (0.12) | (0.04) | (0.16) |
Year Ended 4/30/2021 | $10.44 | 0.14 | 0.34 | 0.48 | (0.14) | (0.01) | (0.15) |
Year Ended 4/30/2020 | $10.55 | 0.18 | (0.10) | 0.08 | (0.19) | (0.00)(f) | (0.19) |
Year Ended 4/30/2019 | $10.45 | 0.20 | 0.19 | 0.39 | (0.21) | (0.08) | (0.29) |
Year Ended 4/30/2018 | $10.80 | 0.19 | (0.31) | (0.12) | (0.20) | (0.03) | (0.23) |
Institutional Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.75 | 0.13 | (0.39) | (0.26) | (0.12) | — | (0.12) |
Year Ended 4/30/2022 | $10.76 | 0.22 | (0.97) | (0.75) | (0.22) | (0.04) | (0.26) |
Year Ended 4/30/2021 | $10.43 | 0.25 | 0.34 | 0.59 | (0.25) | (0.01) | (0.26) |
Year Ended 4/30/2020 | $10.54 | 0.29 | (0.11) | 0.18 | (0.29) | (0.00)(f) | (0.29) |
Year Ended 4/30/2019 | $10.44 | 0.30 | 0.20 | 0.50 | (0.32) | (0.08) | (0.40) |
Year Ended 4/30/2018 | $10.79 | 0.30 | (0.31) | (0.01) | (0.31) | (0.03) | (0.34) |
16 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.37 | (2.81%) | 0.87%(c),(d) | 0.81%(c),(d),(e) | 2.35%(c) | 6% | $21,612 |
Year Ended 4/30/2022 | $9.75 | (7.32%) | 0.90% | 0.81%(e) | 1.80% | 11% | $25,627 |
Year Ended 4/30/2021 | $10.76 | 5.42% | 0.91% | 0.81% | 2.07% | 10% | $29,427 |
Year Ended 4/30/2020 | $10.43 | 1.35% | 0.87% | 0.81% | 2.47% | 12% | $24,036 |
Year Ended 4/30/2019 | $10.55 | 4.69% | 0.88% | 0.81%(e) | 2.63% | 13% | $23,706 |
Year Ended 4/30/2018 | $10.44 | (0.39%) | 0.89% | 0.81%(e) | 2.55% | 14% | $27,005 |
Advisor Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.38 | (2.68%) | 0.61%(c),(d) | 0.56%(c),(d),(e) | 2.60%(c) | 6% | $2,723 |
Year Ended 4/30/2022 | $9.76 | (7.08%) | 0.64% | 0.56%(e) | 2.02% | 11% | $2,881 |
Year Ended 4/30/2021 | $10.77 | 5.78% | 0.66% | 0.56% | 2.31% | 10% | $2,233 |
Year Ended 4/30/2020 | $10.43 | 1.60% | 0.61% | 0.55% | 2.70% | 12% | $666 |
Year Ended 4/30/2019 | $10.55 | 4.95% | 0.63% | 0.56%(e) | 2.87% | 13% | $274 |
Year Ended 4/30/2018 | $10.44 | (0.14%) | 0.63% | 0.56%(e) | 2.80% | 14% | $1,823 |
Class C | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.38 | (3.17%) | 1.61%(c),(d) | 1.56%(c),(d),(e) | 1.61%(c) | 6% | $1,171 |
Year Ended 4/30/2022 | $9.76 | (8.01%) | 1.65% | 1.56%(e) | 1.08% | 11% | $1,248 |
Year Ended 4/30/2021 | $10.77 | 4.63% | 1.66% | 1.56% | 1.32% | 10% | $1,964 |
Year Ended 4/30/2020 | $10.44 | 0.69% | 1.62% | 1.56% | 1.73% | 12% | $1,976 |
Year Ended 4/30/2019 | $10.55 | 3.81% | 1.63% | 1.56%(e) | 1.88% | 13% | $2,786 |
Year Ended 4/30/2018 | $10.45 | (1.13%) | 1.64% | 1.56%(e) | 1.79% | 14% | $3,824 |
Institutional Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.37 | (2.69%) | 0.61%(c),(d) | 0.56%(c),(d),(e) | 2.61%(c) | 6% | $20,215 |
Year Ended 4/30/2022 | $9.75 | (7.09%) | 0.65% | 0.56%(e) | 2.06% | 11% | $19,848 |
Year Ended 4/30/2021 | $10.76 | 5.68% | 0.66% | 0.56% | 2.32% | 10% | $24,243 |
Year Ended 4/30/2020 | $10.43 | 1.70% | 0.62% | 0.55% | 2.72% | 12% | $24,546 |
Year Ended 4/30/2019 | $10.54 | 4.86% | 0.63% | 0.56%(e) | 2.88% | 13% | $22,698 |
Year Ended 4/30/2018 | $10.44 | (0.15%) | 0.65% | 0.56%(e) | 2.76% | 14% | $29,199 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual 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 | |
Institutional 3 Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.77 | 0.13 | (0.38) | (0.25) | (0.13) | — | (0.13) |
Year Ended 4/30/2022 | $10.79 | 0.23 | (0.98) | (0.75) | (0.23) | (0.04) | (0.27) |
Year Ended 4/30/2021 | $10.45 | 0.26 | 0.35 | 0.61 | (0.26) | (0.01) | (0.27) |
Year Ended 4/30/2020 | $10.57 | 0.30 | (0.12) | 0.18 | (0.30) | (0.00)(f) | (0.30) |
Year Ended 4/30/2019 | $10.46 | 0.31 | 0.21 | 0.52 | (0.33) | (0.08) | (0.41) |
Year Ended 4/30/2018 | $10.82 | 0.31 | (0.32) | (0.01) | (0.32) | (0.03) | (0.35) |
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) | Annualized. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | Rounds to zero. |
18 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.39 | (2.64%) | 0.53%(c),(d) | 0.48%(c),(d) | 2.68%(c) | 6% | $38,499 |
Year Ended 4/30/2022 | $9.77 | (7.08%) | 0.56% | 0.48% | 2.14% | 11% | $57,501 |
Year Ended 4/30/2021 | $10.79 | 5.86% | 0.58% | 0.47% | 2.40% | 10% | $84,363 |
Year Ended 4/30/2020 | $10.45 | 1.69% | 0.53% | 0.47% | 2.81% | 12% | $87,804 |
Year Ended 4/30/2019 | $10.57 | 5.04% | 0.54% | 0.47% | 2.97% | 13% | $88,421 |
Year Ended 4/30/2018 | $10.46 | (0.13%) | 0.54% | 0.48% | 2.91% | 14% | $102,071 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 19 |
October 31, 2022 (Unaudited)
20 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 21 |
October 31, 2022 (Unaudited)
22 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 3,607 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 23 |
October 31, 2022 (Unaudited)
Fee rate(s) contractual through August 31, 2023 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 3 Class | 0.48 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
90,968,000 | 165,000 | (7,718,000) | (7,553,000) |
Late year ordinary losses ($) | Post-October capital losses ($) |
— | 299,339 |
24 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 700,000 | 2.62 | 10 |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 25 |
October 31, 2022 (Unaudited)
26 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 27 |
October 31, 2022 (Unaudited)
28 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 29 |
(Unaudited)
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
30 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia Virginia Intermediate Municipal Bond Fund | Semiannual Report 2022 | 31 |
(Unaudited)
On June 23, 2022, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
32 | Columbia Virginia Intermediate Municipal Bond Fund | Semiannual 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.
October 31, 2022 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2022) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/09/02 | -2.37 | -9.19 | 0.16 | 1.33 |
Including sales charges | -5.28 | -11.93 | -0.44 | 1.02 | ||
Advisor Class* | 03/19/13 | -2.36 | -8.99 | 0.40 | 1.59 | |
Class C | Excluding sales charges | 09/11/02 | -2.85 | -9.88 | -0.59 | 0.57 |
Including sales charges | -3.81 | -10.77 | -0.59 | 0.57 | ||
Institutional Class | 08/19/02 | -2.26 | -8.90 | 0.42 | 1.59 | |
Institutional 2 Class* | 11/08/12 | -2.26 | -8.90 | 0.47 | 1.66 | |
Institutional 3 Class* | 03/01/17 | -2.23 | -8.92 | 0.50 | 1.65 | |
Bloomberg California 3-15 Year Blend Municipal Bond Index | -2.06 | -9.20 | 0.56 | 1.72 | ||
Bloomberg 3-15 Year Blend Municipal Bond Index | -2.64 | -9.62 | 0.64 | 1.66 |
* | 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. 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 California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2022) | |
AAA rating | 2.0 |
AA rating | 49.9 |
A rating | 31.5 |
BBB rating | 11.9 |
BB rating | 2.2 |
Not rated | 2.5 |
Total | 100.0 |
4 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
May 1, 2022 — October 31, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 976.30 | 1,021.64 | 3.66 | 3.74 | 0.73 |
Advisor Class | 1,000.00 | 1,000.00 | 976.40 | 1,022.96 | 2.35 | 2.41 | 0.47 |
Class C | 1,000.00 | 1,000.00 | 971.50 | 1,017.84 | 7.39 | 7.57 | 1.48 |
Institutional Class | 1,000.00 | 1,000.00 | 977.40 | 1,022.91 | 2.41 | 2.46 | 0.48 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 977.40 | 1,023.01 | 2.31 | 2.36 | 0.46 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 977.70 | 1,023.26 | 2.05 | 2.10 | 0.41 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 5 |
October 31, 2022 (Unaudited)
Municipal Bonds 98.2% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 12.0% | ||||
City of Los Angeles Department of Airports | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2015C | ||||
05/15/2029 | 5.000% | 2,410,000 | 2,503,720 | |
Subordinated Series 2019C | ||||
05/15/2035 | 5.000% | 3,975,000 | 4,201,798 | |
05/15/2037 | 5.000% | 2,250,000 | 2,358,953 | |
Revenue Bonds | ||||
Subordinated Series 2017B | ||||
05/15/2029 | 5.000% | 330,000 | 352,213 | |
05/15/2030 | 5.000% | 500,000 | 532,957 | |
City of Los Angeles Department of Airports(a) | ||||
Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2019 | ||||
05/15/2038 | 5.000% | 3,500,000 | 3,496,537 | |
Senior Series 2020C | ||||
05/15/2038 | 5.000% | 3,000,000 | 3,018,833 | |
County of Sacramento Airport System | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016B | ||||
07/01/2036 | 5.000% | 1,750,000 | 1,759,146 | |
Subordinated Series 2018E | ||||
07/01/2034 | 5.000% | 1,000,000 | 1,023,794 | |
Norman Y. Mineta San Jose International Airport | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
03/01/2027 | 5.000% | 2,000,000 | 2,038,953 | |
Series 2014C | ||||
03/01/2030 | 5.000% | 2,500,000 | 2,542,035 | |
San Diego County Regional Airport Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017A | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,021,884 | |
07/01/2034 | 5.000% | 700,000 | 712,533 | |
San Diego County Regional Airport Authority(a) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019B | ||||
07/01/2036 | 5.000% | 1,540,000 | 1,524,776 | |
Subordinated Series 2020 | ||||
07/01/2036 | 5.000% | 495,000 | 490,587 | |
07/01/2039 | 5.000% | 400,000 | 395,316 | |
Revenue Bonds | ||||
Subordinated Series 2021B | ||||
07/01/2039 | 4.000% | 250,000 | 215,446 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
San Francisco City & County Airport Commission - San Francisco International Airport | ||||
Refunding Revenue Bonds | ||||
2nd Series 2016A | ||||
05/01/2026 | 5.000% | 1,975,000 | 2,073,629 | |
San Francisco Airport Commission Project | ||||
Series 2019 | ||||
05/01/2036 | 5.000% | 3,205,000 | 3,302,401 | |
San Francisco City & County Airport Commission - San Francisco International Airport(a) | ||||
Refunding Revenue Bonds | ||||
Series 2020A-2 | ||||
05/01/2039 | 4.000% | 750,000 | 647,783 | |
Revenue Bonds | ||||
Series 2019E | ||||
05/01/2037 | 5.000% | 4,450,000 | 4,428,983 | |
Total | 38,642,277 | |||
Charter Schools 4.4% | ||||
California Infrastructure & Economic Development Bank | ||||
Revenue Bonds | ||||
Equitable School Revolving Fund | ||||
Series 2019 | ||||
11/01/2039 | 5.000% | 275,000 | 279,059 | |
California School Finance Authority(b) | ||||
Refunding Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2029 | 5.000% | 1,000,000 | 1,014,780 | |
08/01/2030 | 5.000% | 1,380,000 | 1,397,622 | |
08/01/2031 | 5.000% | 850,000 | 858,330 | |
Revenue Bonds | ||||
Alliance College-Ready Public Schools | ||||
Series 2015 | ||||
07/01/2030 | 5.000% | 3,400,000 | 3,455,316 | |
Aspire Public Schools Obligation Group | ||||
Series 2021 | ||||
08/01/2036 | 4.000% | 325,000 | 284,304 | |
Green Dot Public School Project | ||||
Series 2015A | ||||
08/01/2035 | 5.000% | 1,010,000 | 1,008,489 | |
Series 2018 | ||||
08/01/2038 | 5.000% | 1,000,000 | 986,094 | |
KIPP Los Angeles Projects | ||||
Series 2015A | ||||
07/01/2035 | 5.000% | 1,250,000 | 1,230,029 | |
Series 2017 | ||||
07/01/2037 | 5.000% | 3,090,000 | 2,997,223 |
6 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California School Finance Authority | ||||
Revenue Bonds | ||||
KIPP Los Angeles Projects | ||||
Series 2014A | ||||
07/01/2034 | 5.000% | 600,000 | 596,404 | |
Total | 14,107,650 | |||
Higher Education 6.2% | ||||
California Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Loma Linda University | ||||
Series 2017A | ||||
04/01/2034 | 5.000% | 1,485,000 | 1,541,981 | |
04/01/2035 | 5.000% | 2,000,000 | 2,073,121 | |
Series 2018-A | ||||
12/01/2036 | 5.000% | 1,000,000 | 993,690 | |
Revenue Bonds | ||||
Chapman University | ||||
Series 2015 | ||||
04/01/2026 | 5.000% | 1,000,000 | 1,033,235 | |
Green Bonds - Loyola Marymount University | ||||
Series 2018 | ||||
10/01/2036 | 5.000% | 760,000 | 793,242 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Azusa Pacific University | ||||
Series 2015B | ||||
04/01/2025 | 5.000% | 395,000 | 395,872 | |
04/01/2026 | 5.000% | 1,000,000 | 1,000,406 | |
Biola University | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 540,000 | 556,194 | |
10/01/2032 | 5.000% | 615,000 | 631,330 | |
10/01/2033 | 5.000% | 625,000 | 639,975 | |
10/01/2034 | 5.000% | 570,000 | 581,546 | |
California Lutheran University | ||||
Series 2018 | ||||
10/01/2035 | 5.000% | 225,000 | 225,789 | |
10/01/2036 | 5.000% | 250,000 | 250,402 | |
Revenue Bonds | ||||
National University | ||||
Series 2019A | ||||
04/01/2035 | 5.000% | 1,780,000 | 1,847,570 | |
04/01/2036 | 5.000% | 1,120,000 | 1,157,547 | |
University of San Diego | ||||
Series 2019A | ||||
10/01/2037 | 5.000% | 1,200,000 | 1,257,317 | |
California Municipal Finance Authority(b) | ||||
Revenue Bonds | ||||
California Baptist University | ||||
Series 2016A | ||||
11/01/2026 | 4.000% | 1,000,000 | 974,758 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Statewide Communities Development Authority(b) | ||||
Refunding Revenue Bonds | ||||
California Baptist University | ||||
Series 2017A | ||||
11/01/2032 | 5.000% | 1,135,000 | 1,143,475 | |
Revenue Bonds | ||||
California Baptist University | ||||
Series 2014A | ||||
11/01/2023 | 5.125% | 380,000 | 381,547 | |
Lancer Plaza Project | ||||
Series 2013 | ||||
11/01/2023 | 5.125% | 255,000 | 254,694 | |
University of California | ||||
Refunding Revenue Bonds | ||||
Series 2022S | ||||
05/15/2030 | 5.000% | 2,000,000 | 2,221,155 | |
Total | 19,954,846 | |||
Hospital 9.4% | ||||
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Cedars Sinai Medical Center | ||||
Series 2015 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,046,733 | |
Children’s Hospital of Orange County | ||||
Series 2019 | ||||
11/01/2030 | 5.000% | 810,000 | 883,301 | |
El Camino Hospital | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,500,000 | 1,548,004 | |
Marshall Medical Center | ||||
Series 2015 | ||||
11/01/2023 | 5.000% | 325,000 | 330,278 | |
Sutter Health | ||||
Series 2017A | ||||
11/15/2033 | 5.000% | 1,000,000 | 1,033,610 | |
Revenue Bonds | ||||
El Camino Hospital | ||||
Series 2017 | ||||
02/01/2033 | 5.000% | 2,500,000 | 2,591,222 | |
02/01/2034 | 5.000% | 500,000 | 516,098 | |
Kaiser Permanente | ||||
Subordinated Series 2017A-1-G | ||||
11/01/2027 | 5.000% | 1,875,000 | 2,025,504 | |
Lucile Salter Packard Children’s Hospital | ||||
Series 2014 | ||||
08/15/2028 | 5.000% | 300,000 | 306,495 | |
Series 2017 | ||||
11/15/2034 | 5.000% | 250,000 | 256,314 | |
11/15/2035 | 5.000% | 270,000 | 275,243 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 7 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Providence Health & Services | ||||
Series 2014A | ||||
10/01/2030 | 5.000% | 1,500,000 | 1,530,781 | |
Sutter Health | ||||
Series 2018A | ||||
11/15/2034 | 5.000% | 1,000,000 | 1,028,892 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2017A | ||||
02/01/2033 | 5.000% | 2,770,000 | 2,828,772 | |
Revenue Bonds | ||||
Clincas Del Camino Real, Inc. | ||||
Series 2020 | ||||
03/01/2035 | 4.000% | 500,000 | 429,480 | |
California Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Henry Mayo Newhall Hospital | ||||
Series 2021 | ||||
10/15/2028 | 4.000% | 360,000 | 347,193 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
Enloe Medical Center | ||||
Series 2015 | ||||
08/15/2030 | 5.000% | 1,990,000 | 2,085,597 | |
Revenue Bonds | ||||
Green - Marin General Hospital Project | ||||
Series 2018 | ||||
08/01/2033 | 5.000% | 425,000 | 429,277 | |
08/01/2034 | 5.000% | 650,000 | 654,516 | |
Kaiser Permanente | ||||
Series 2019 (Mandatory Put 11/01/29) | ||||
04/01/2038 | 5.000% | 2,500,000 | 2,730,195 | |
Loma Linda University Medical Center | ||||
Series 2014 | ||||
12/01/2034 | 5.250% | 3,000,000 | 3,020,065 | |
Methodist Hospital of Southern California | ||||
Series 2018 | ||||
01/01/2036 | 5.000% | 3,000,000 | 3,011,029 | |
City of Upland | ||||
Refunding Certificate of Participation | ||||
San Antonio Regional Hospital | ||||
Series 2017 | ||||
01/01/2034 | 5.000% | 500,000 | 506,900 | |
01/01/2036 | 4.000% | 1,000,000 | 856,350 | |
Total | 30,271,849 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Human Service Provider 0.4% | ||||
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Harbor Regional Center Project | ||||
Series 2015 | ||||
11/01/2032 | 5.000% | 1,120,000 | 1,166,530 | |
Joint Power Authority 0.5% | ||||
Northern California Transmission Agency | ||||
Refunding Revenue Bonds | ||||
California-Oregon Project | ||||
Series 2016 | ||||
05/01/2032 | 5.000% | 1,500,000 | 1,570,479 | |
Local Appropriation 2.1% | ||||
Anaheim Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Anaheim Public Improvement Projects | ||||
Series 2019 BAM | ||||
09/01/2031 | 5.000% | 1,470,000 | 1,567,038 | |
Fresno Joint Powers Financing Authority | ||||
Refunding Revenue Bonds | ||||
Master Lease Project | ||||
Series 2017A (AGM) | ||||
04/01/2033 | 5.000% | 1,000,000 | 1,052,208 | |
Los Angeles County Public Works Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds - LACMA Building for the Permanent Collection Project | ||||
Series 2020A | ||||
12/01/2037 | 4.000% | 2,415,000 | 2,290,619 | |
San Rafael Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Public Safety Facilities Project | ||||
Series 2018 | ||||
06/01/2033 | 5.000% | 850,000 | 912,424 | |
06/01/2034 | 5.000% | 775,000 | 830,240 | |
Total | 6,652,529 | |||
Local General Obligation 8.3% | ||||
Bellevue Union School District(c) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2008 | ||||
Series 2011A (AGM) | ||||
08/01/2030 | 0.000% | 585,000 | 426,267 | |
08/01/2031 | 0.000% | 615,000 | 425,955 | |
Chula Vista Elementary School District(c) | ||||
Unlimited General Obligation Bonds | ||||
BAN Series 2019 | ||||
08/01/2023 | 0.000% | 1,150,000 | 1,120,234 |
8 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Compton Unified School District(c) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2002 | ||||
Series 2006C (AMBAC) | ||||
06/01/2023 | 0.000% | 2,025,000 | 1,982,812 | |
06/01/2024 | 0.000% | 1,925,000 | 1,813,320 | |
Conejo Valley Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2018B | ||||
08/01/2032 | 4.000% | 2,000,000 | 2,029,611 | |
Corona-Norco Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2014 | ||||
Series 2018B | ||||
08/01/2034 | 4.000% | 500,000 | 496,352 | |
Culver City School Facilities Financing Authority | ||||
Revenue Bonds | ||||
Unified School District | ||||
Series 2005 (AGM) | ||||
08/01/2023 | 5.500% | 1,490,000 | 1,515,683 | |
Encinitas Union School District(d) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2010 | ||||
Series 2011 | ||||
08/01/2035 | 6.750% | 500,000 | 602,184 | |
Long Beach Unified School District(c) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015D-1 | ||||
08/01/2031 | 0.000% | 1,375,000 | 948,270 | |
Los Angeles Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2008 | ||||
Series 2018B-1 | ||||
07/01/2032 | 5.000% | 4,000,000 | 4,263,790 | |
Monterey Peninsula Community College District(c) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
08/01/2028 | 0.000% | 2,125,000 | 1,693,201 | |
Napa Valley Community College District(d) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2018 | ||||
08/01/2034 | 4.000% | 1,595,000 | 1,595,487 | |
Oakland Unified School District/Alameda County | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
08/01/2025 | 5.000% | 650,000 | 676,530 | |
Pomona Unified School District(c) | ||||
Unlimited General Obligation Bonds | ||||
Election of 2008 | ||||
Series 2016G (AGM) | ||||
08/01/2032 | 0.000% | 1,000,000 | 650,968 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Rancho Santiago Community College District(c) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2002 | ||||
Series 2006C (AGM) | ||||
09/01/2031 | 0.000% | 3,785,000 | 2,658,884 | |
Rescue Union School District(c) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 1998 | ||||
Series 2005 (NPFGC) | ||||
09/01/2026 | 0.000% | 1,100,000 | 945,267 | |
Santa Monica Community College District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2016 | ||||
Series 2018A | ||||
08/01/2034 | 4.000% | 500,000 | 498,731 | |
Sierra Kings Health Care District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
08/01/2028 | 5.000% | 1,000,000 | 1,030,922 | |
08/01/2032 | 5.000% | 1,500,000 | 1,541,197 | |
Total | 26,915,665 | |||
Multi-Family 1.2% | ||||
California Housing Finance | ||||
Revenue Bonds | ||||
Series 2019-2 Class A | ||||
03/20/2033 | 4.000% | 1,146,249 | 1,084,096 | |
California Municipal Finance Authority | ||||
Revenue Bonds | ||||
Bowles Hall Foundation | ||||
Series 2015A | ||||
06/01/2035 | 5.000% | 400,000 | 394,841 | |
Caritas Affordable Housing | ||||
Series 2014 | ||||
08/15/2030 | 5.000% | 1,000,000 | 1,009,623 | |
California Statewide Communities Development Authority | ||||
Revenue Bonds | ||||
Lancer Educational Student Housing Project | ||||
Series 2019 | ||||
06/01/2034 | 5.000% | 375,000 | 352,345 | |
Series 2017 | ||||
05/15/2032 | 5.000% | 1,000,000 | 1,012,109 | |
Total | 3,853,014 | |||
Municipal Power 5.8% | ||||
City of Redding Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
06/01/2029 | 5.000% | 1,250,000 | 1,330,476 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 9 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Riverside Electric | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2037 | 5.000% | 1,000,000 | 1,057,419 | |
City of Vernon Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
08/01/2039 | 5.000% | 425,000 | 417,190 | |
Los Angeles Department of Water & Power System | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2035 | 5.000% | 1,750,000 | 1,849,827 | |
Series 2019B | ||||
07/01/2031 | 5.000% | 5,000,000 | 5,459,499 | |
Revenue Bonds | ||||
Power System | ||||
Series 2014D | ||||
07/01/2033 | 5.000% | 1,700,000 | 1,742,422 | |
Redding Joint Powers Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
06/01/2031 | 5.000% | 1,045,000 | 1,087,849 | |
Sacramento Municipal Utility District | ||||
Revenue Bonds | ||||
Electric | ||||
Series 2020H | ||||
08/15/2033 | 5.000% | 2,000,000 | 2,172,688 | |
Turlock Irrigation District | ||||
Refunding Revenue Bonds | ||||
First Priority | ||||
Subordinated Series 2014 | ||||
01/01/2030 | 5.000% | 850,000 | 872,321 | |
01/01/2031 | 5.000% | 1,000,000 | 1,025,934 | |
Series 2020 | ||||
01/01/2038 | 5.000% | 1,650,000 | 1,727,822 | |
Total | 18,743,447 | |||
Other Bond Issue 0.9% | ||||
California Infrastructure & Economic Development Bank | ||||
Refunding Revenue Bonds | ||||
Salvation Army Western Territory (The) | ||||
Series 2016 | ||||
09/01/2033 | 4.000% | 400,000 | 398,464 | |
09/01/2034 | 4.000% | 600,000 | 569,749 | |
Walt Disney Family Museum | ||||
Series 2016 | ||||
02/01/2032 | 4.000% | 350,000 | 345,552 | |
02/01/2033 | 4.000% | 500,000 | 490,287 | |
City of Long Beach Marina System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/15/2028 | 5.000% | 635,000 | 645,141 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of San Diego | ||||
Refunding Revenue Bonds | ||||
Sanford Burnham Prebys Medical Discovery Group | ||||
Series 2015 | ||||
11/01/2025 | 5.000% | 350,000 | 365,803 | |
Total | 2,814,996 | |||
Pool / Bond Bank 0.7% | ||||
California Infrastructure & Economic Development Bank | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2019 | ||||
10/01/2031 | 5.000% | 2,120,000 | 2,306,750 | |
Ports 2.0% | ||||
City of Long Beach Harbor | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/15/2036 | 5.000% | 700,000 | 742,082 | |
Port Commission of the City & County of San Francisco | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
03/01/2037 | 4.000% | 315,000 | 291,970 | |
03/01/2038 | 4.000% | 405,000 | 370,990 | |
03/01/2039 | 4.000% | 1,260,000 | 1,146,155 | |
Port of Los Angeles(a) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2019A | ||||
08/01/2025 | 5.000% | 1,750,000 | 1,814,444 | |
San Diego Unified Port District | ||||
Refunding Revenue Bonds | ||||
Series 2013A | ||||
09/01/2027 | 5.000% | 1,000,000 | 1,013,490 | |
09/01/2028 | 5.000% | 1,100,000 | 1,115,570 | |
Total | 6,494,701 | |||
Prepaid Gas 1.6% | ||||
California Community Choice Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2021B-1 (Mandatory Put 08/01/2031) | ||||
02/01/2052 | 4.000% | 3,500,000 | 3,265,059 | |
M-S-R Energy Authority | ||||
Revenue Bonds | ||||
Series 2009B | ||||
11/01/2029 | 6.125% | 1,890,000 | 2,037,271 | |
Total | 5,302,330 |
10 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Recreation 0.5% | ||||
Del Mar Race Track Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
10/01/2025 | 5.000% | 1,665,000 | 1,660,915 | |
Refunded / Escrowed 6.5% | ||||
California Educational Facilities Authority | ||||
Revenue Bonds | ||||
University of Southern California | ||||
Series 2009C Escrowed to Maturity | ||||
10/01/2024 | 5.250% | 3,000,000 | 3,117,031 | |
California Municipal Finance Authority | ||||
Prerefunded 02/01/25 Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,200,000 | 1,247,204 | |
Prerefunded 10/01/23 Revenue Bonds | ||||
Biola University | ||||
Series 2013 | ||||
10/01/2024 | 5.000% | 505,000 | 512,632 | |
10/01/2028 | 5.000% | 840,000 | 852,694 | |
California School Finance Authority(b) | ||||
Revenue Bonds | ||||
River Springs Charter School Project | ||||
Series 2015 Escrowed to Maturity | ||||
07/01/2025 | 5.250% | 915,000 | 939,966 | |
California Statewide Communities Development Authority | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
Huntington Memorial Hospital | ||||
Series 2014B | ||||
07/01/2033 | 5.000% | 2,300,000 | 2,368,310 | |
Prerefunded 10/01/24 Revenue Bonds | ||||
Henry Mayo Newhall Memorial Hospital | ||||
Series 2014A (AGM) | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,033,837 | |
Prerefunded 11/15/23 Revenue Bonds | ||||
Insured Redwoods Project | ||||
Series 2013 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,019,104 | |
Golden State Tobacco Securitization Corp. | ||||
Prerefunded 06/01/25 Asset-Backed Revenue Bonds | ||||
Series 2015A | ||||
06/01/2033 | 5.000% | 4,000,000 | 4,174,271 | |
Refunding Revenue Bonds | ||||
Series 2017A-1 Escrowed to Maturity | ||||
06/01/2024 | 5.000% | 4,000,000 | 4,107,058 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
La Quinta Redevelopment Agency Successor Agency | ||||
Prerefunded 09/01/23 Tax Allocation Bonds | ||||
Redevelopment Project | ||||
Subordinated Series 2013A | ||||
09/01/2030 | 5.000% | 1,500,000 | 1,523,220 | |
Total | 20,895,327 | |||
Retirement Communities 5.7% | ||||
ABAG Finance Authority for Nonprofit Corps. | ||||
Revenue Bonds | ||||
Odd Fellows Home of California | ||||
Series 2012A | ||||
04/01/2032 | 5.000% | 4,750,000 | 4,781,626 | |
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Northern California Presbyterian Homes | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 310,000 | 323,079 | |
07/01/2029 | 5.000% | 300,000 | 312,746 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
HumanGood Obligation Group | ||||
Series 2019A | ||||
10/01/2034 | 4.000% | 500,000 | 462,524 | |
10/01/2035 | 4.000% | 1,000,000 | 917,283 | |
Mt. San Antonio Gardens Project | ||||
Series 2019 | ||||
11/15/2039 | 5.000% | 1,000,000 | 954,716 | |
Retirement Housing Foundation | ||||
Series 2017 | ||||
11/15/2029 | 5.000% | 390,000 | 419,985 | |
11/15/2030 | 5.000% | 600,000 | 650,655 | |
11/15/2032 | 5.000% | 850,000 | 929,242 | |
California Public Finance Authority(b) | ||||
Revenue Bonds | ||||
Enso Village Project - Green Bonds - TEMPS 70 | ||||
Series 2021 | ||||
11/15/2028 | 2.375% | 2,000,000 | 1,801,175 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
American Baptist Homes West | ||||
Series 2015 | ||||
10/01/2024 | 5.000% | 2,575,000 | 2,617,981 | |
10/01/2026 | 5.000% | 1,000,000 | 1,022,284 | |
Front Porch Communities & Services | ||||
Series 2017 | ||||
04/01/2030 | 5.000% | 150,000 | 154,703 | |
Series 2021 | ||||
04/01/2038 | 4.000% | 750,000 | 671,601 | |
04/01/2039 | 4.000% | 750,000 | 665,537 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 11 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Viamonte Senior Living 1, Inc. | ||||
Series 2018 | ||||
07/01/2035 | 4.000% | 300,000 | 284,209 | |
07/01/2036 | 4.000% | 430,000 | 402,699 | |
Los Angeles County Regional Financing Authority | ||||
Revenue Bonds | ||||
Montecedro, Inc. Project | ||||
Series 2014A | ||||
11/15/2034 | 5.000% | 1,000,000 | 1,001,216 | |
Total | 18,373,261 | |||
Sales Tax 1.0% | ||||
California Statewide Communities Development Authority | ||||
Certificate of Participation | ||||
Total Road Improvement Program | ||||
Series 2018B (AGM) | ||||
12/01/2035 | 5.000% | 1,405,000 | 1,488,311 | |
City of Sacramento Transient Occupancy | ||||
Revenue Bonds | ||||
Convention Center Complex | ||||
Subordinated Series 2018 | ||||
06/01/2035 | 5.000% | 615,000 | 639,839 | |
06/01/2036 | 5.000% | 1,180,000 | 1,223,614 | |
Total | 3,351,764 | |||
Special Non Property Tax 0.2% | ||||
Berkeley Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Series 2016 (BAM) | ||||
06/01/2033 | 4.000% | 415,000 | 416,157 | |
06/01/2034 | 4.000% | 250,000 | 248,847 | |
Total | 665,004 | |||
Special Property Tax 14.4% | ||||
Carson Public Financing Authority | ||||
Revenue Bonds | ||||
Series 2019 | ||||
09/02/2026 | 5.000% | 650,000 | 671,754 | |
City & County of San Francisco Community Facilities District No. 2016-1 | ||||
Special Tax Bonds | ||||
Series 2021 | ||||
09/01/2041 | 4.000% | 745,000 | 623,976 | |
City of Irvine | ||||
Refunding Special Assessment Bonds | ||||
Limited Obligation Reassessment District | ||||
Series 2015 | ||||
09/02/2025 | 5.000% | 1,295,000 | 1,347,260 | |
Special Assessment Refunding Bonds | ||||
Series 2019 | ||||
09/02/2031 | 5.000% | 325,000 | 342,662 | |
09/02/2032 | 5.000% | 340,000 | 357,269 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Concord Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014 (BAM) | ||||
03/01/2025 | 5.000% | 840,000 | 865,611 | |
Emeryville Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014A (AGM) | ||||
09/01/2023 | 5.000% | 2,415,000 | 2,447,608 | |
09/01/2026 | 5.000% | 1,000,000 | 1,029,069 | |
09/01/2027 | 5.000% | 1,000,000 | 1,028,763 | |
09/01/2030 | 5.000% | 815,000 | 837,746 | |
09/01/2031 | 5.000% | 590,000 | 606,491 | |
Garden Grove Agency Community Development Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Garden Grove Community Project | ||||
Series 2016 (BAM) | ||||
10/01/2030 | 5.000% | 1,040,000 | 1,087,188 | |
10/01/2031 | 5.000% | 1,640,000 | 1,710,659 | |
Inglewood Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Merged Redevelopment Project | ||||
Subordinated Series 2017 (BAM) | ||||
05/01/2032 | 5.000% | 500,000 | 527,568 | |
05/01/2033 | 5.000% | 1,000,000 | 1,052,055 | |
Irvine Unified School District | ||||
Refunding Special Tax Bonds | ||||
Series 2015 | ||||
09/01/2030 | 5.000% | 2,065,000 | 2,139,196 | |
09/01/2031 | 5.000% | 2,720,000 | 2,813,549 | |
Jurupa Public Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Series 2014A | ||||
09/01/2029 | 5.000% | 530,000 | 544,155 | |
09/01/2030 | 5.000% | 625,000 | 640,797 | |
09/01/2032 | 5.000% | 625,000 | 639,125 | |
Los Angeles Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Playa Vista-Phase 1 | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 985,000 | 1,016,918 | |
Los Angeles County Redevelopment Authority | ||||
Refunding Tax Allocation Bonds | ||||
Los Angeles Bunker Hill Project | ||||
Series 2014C (AGM) | ||||
12/01/2028 | 5.000% | 3,000,000 | 3,096,274 | |
Oakley Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Oakley Redevelopment Project Area | ||||
Series 2018 (BAM) | ||||
09/01/2032 | 5.000% | 335,000 | 356,771 | |
09/01/2033 | 5.000% | 730,000 | 774,800 | |
09/01/2034 | 5.000% | 500,000 | 529,327 |
12 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Palm Desert Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2017A (BAM) | ||||
10/01/2029 | 5.000% | 890,000 | 943,271 | |
10/01/2030 | 5.000% | 350,000 | 370,183 | |
Poway Unified School District Public Financing Authority | ||||
Special Tax Refunding Bonds | ||||
Series 2015B | ||||
09/01/2026 | 5.000% | 995,000 | 1,040,391 | |
Rancho Cucamonga Redevelopment Agency Successor Agency | ||||
Tax Allocation Bonds | ||||
Rancho Redevelopment Project Area | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 700,000 | 717,907 | |
Series 2014 (AGM) | ||||
09/01/2027 | 5.000% | 2,200,000 | 2,259,332 | |
Riverside County Public Financing Authority | ||||
Tax Allocation Bonds | ||||
Project Area #1-Desert Communities | ||||
Series 2016 (BAM) | ||||
10/01/2031 | 4.000% | 2,500,000 | 2,499,176 | |
San Francisco City & County Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Mission Bay North Redevelopment Project | ||||
Series 2016 | ||||
08/01/2030 | 5.000% | 275,000 | 287,603 | |
08/01/2031 | 5.000% | 355,000 | 370,191 | |
Mission Bay South Redevelopment Project | ||||
Series 2016 | ||||
08/01/2031 | 5.000% | 670,000 | 704,893 | |
08/01/2032 | 5.000% | 580,000 | 608,961 | |
Tax Allocation Bonds | ||||
Mission Bay South Redevelopment Project | ||||
Series 2014A | ||||
08/01/2029 | 5.000% | 225,000 | 231,045 | |
08/01/2030 | 5.000% | 175,000 | 179,678 | |
San Mateo Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2015A | ||||
08/01/2028 | 5.000% | 1,860,000 | 1,929,819 | |
08/01/2029 | 5.000% | 1,000,000 | 1,037,048 | |
Semitropic Improvement District | ||||
Refunding Revenue Bonds | ||||
Series 2015A 2nd Lien (AGM) | ||||
12/01/2023 | 5.000% | 300,000 | 305,604 | |
12/01/2024 | 5.000% | 400,000 | 413,818 | |
Transbay Joint Powers Authority | ||||
Senior Tax Allocation Bonds | ||||
Green Bonds | ||||
Series 2020A | ||||
10/01/2033 | 5.000% | 500,000 | 522,296 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Tustin Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Legacy Villages of Columbus #06-1 | ||||
Series 2015 | ||||
09/01/2029 | 5.000% | 1,200,000 | 1,234,936 | |
Tustin Community Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2016 | ||||
09/01/2032 | 4.000% | 2,295,000 | 2,296,647 | |
Vista Redevelopment Agency Successor Agency | ||||
Tax Allocation Refunding Bonds | ||||
Series 2015B1 (AGM) | ||||
09/01/2024 | 5.000% | 580,000 | 594,142 | |
09/01/2026 | 5.000% | 700,000 | 726,937 | |
Total | 46,360,469 | |||
State Appropriated 5.8% | ||||
California State Public Works Board | ||||
Refunding Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2020C | ||||
03/01/2033 | 5.000% | 1,800,000 | 1,956,142 | |
Various Purpose | ||||
Series 2022A | ||||
08/01/2036 | 5.000% | 5,040,000 | 5,392,132 | |
Revenue Bonds | ||||
Department of Corrections and Rehabilitation | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 1,175,000 | 1,223,154 | |
Green Bonds | ||||
Series 2021 | ||||
11/01/2037 | 4.000% | 2,665,000 | 2,523,330 | |
Various Capital Projects | ||||
Series 2013I | ||||
11/01/2028 | 5.250% | 3,000,000 | 3,054,534 | |
Series 2014E | ||||
09/01/2030 | 5.000% | 1,500,000 | 1,544,365 | |
Various Correctional Facilities | ||||
Series 2014A | ||||
09/01/2031 | 5.000% | 3,000,000 | 3,085,498 | |
Total | 18,779,155 | |||
State General Obligation 2.3% | ||||
State of California | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
04/01/2031 | 5.000% | 1,000,000 | 1,087,921 | |
Various Purpose | ||||
Series 2021 | ||||
10/01/2039 | 4.000% | 2,500,000 | 2,363,828 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 13 |
October 31, 2022 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2014 | ||||
08/01/2032 | 5.000% | 3,000,000 | 3,072,139 | |
Various Purpose | ||||
Series 2020 | ||||
03/01/2033 | 5.000% | 1,000,000 | 1,088,087 | |
Total | 7,611,975 | |||
Tobacco 0.7% | ||||
California County Tobacco Securitization Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
06/01/2030 | 5.000% | 250,000 | 258,078 | |
06/01/2032 | 5.000% | 250,000 | 255,316 | |
06/01/2033 | 5.000% | 250,000 | 253,998 | |
06/01/2034 | 4.000% | 200,000 | 184,394 | |
Tobacco Securitization Authority of Southern California | ||||
Refunding Revenue Bonds | ||||
San Diego County Tobacco Asset Securitization Corp. | ||||
Series 2019 | ||||
06/01/2030 | 5.000% | 1,220,000 | 1,263,325 | |
Total | 2,215,111 | |||
Transportation 0.2% | ||||
Peninsula Corridor Joint Powers Board | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2036 | 5.000% | 315,000 | 334,685 | |
10/01/2037 | 5.000% | 300,000 | 317,651 | |
Total | 652,336 | |||
Turnpike / Bridge / Toll Road 1.6% | ||||
Bay Area Toll Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017 | ||||
04/01/2031 | 4.000% | 2,000,000 | 2,030,272 | |
Foothill-Eastern Transportation Corridor Agency(c) | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
01/15/2033 | 0.000% | 5,000,000 | 2,922,969 | |
Riverside County Transportation Commission | ||||
Refunding Revenue Bonds | ||||
RCTC 91 Express Lanes | ||||
Series 2021 | ||||
06/01/2038 | 4.000% | 375,000 | 336,272 | |
Total | 5,289,513 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Water & Sewer 3.8% | ||||
Beaumont Public Improvement Authority | ||||
Revenue Bonds | ||||
Series 2018-A (AGM) | ||||
09/01/2033 | 5.000% | 500,000 | 530,043 | |
09/01/2035 | 5.000% | 830,000 | 876,806 | |
City of Riverside Water | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2032 | 5.000% | 1,500,000 | 1,630,693 | |
City of Tulare Sewer | ||||
Refunding Revenue Bonds | ||||
Series 2015 (AGM) | ||||
11/15/2025 | 5.000% | 700,000 | 734,034 | |
11/15/2026 | 5.000% | 1,000,000 | 1,048,110 | |
Livermore Valley Water Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2034 | 4.000% | 920,000 | 918,438 | |
Los Angeles County Sanitation Districts Financing Authority | ||||
Refunding Revenue Bonds | ||||
Capital Projects - District #14 | ||||
Subordinated Series 2015 | ||||
10/01/2024 | 5.000% | 1,050,000 | 1,084,541 | |
Mountain House Public Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Subordinated Series 2020B (BAM) | ||||
12/01/2035 | 4.000% | 1,000,000 | 941,303 | |
Santa Paula Utility Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019 (AGM) | ||||
02/01/2034 | 4.000% | 575,000 | 575,807 | |
02/01/2036 | 4.000% | 1,325,000 | 1,281,857 | |
Stockton Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014 (BAM) | ||||
09/01/2028 | 5.000% | 1,500,000 | 1,538,182 | |
Union Sanitary District Financing Author | ||||
Revenue Bonds | ||||
Series 2020A | ||||
09/01/2037 | 4.000% | 400,000 | 389,221 | |
09/01/2038 | 4.000% | 325,000 | 311,115 | |
09/01/2039 | 4.000% | 600,000 | 568,123 | |
Total | 12,428,273 | |||
Total Municipal Bonds (Cost $334,854,094) | 317,080,166 |
14 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Money Market Funds 0.8% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 2.007%(e) | 98,355 | 98,345 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 2.030%(e) | 2,338,318 | 2,338,318 |
Total Money Market Funds (Cost $2,436,672) | 2,436,663 | |
Total Investments in Securities (Cost: $337,290,766) | 319,516,829 | |
Other Assets & Liabilities, Net | 3,247,521 | |
Net Assets | 322,764,350 |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | 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 October 31, 2022, the total value of these securities amounted to $18,727,802, which represents 5.80% of total net assets. |
(c) | Zero coupon bond. |
(d) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of October 31, 2022. |
(e) | The rate shown is the seven-day current annualized yield at October 31, 2022. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 15 |
October 31, 2022 (Unaudited)
The Fund’s Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 317,080,166 | — | 317,080,166 |
Money Market Funds | 2,436,663 | — | — | 2,436,663 |
Total Investments in Securities | 2,436,663 | 317,080,166 | — | 319,516,829 |
16 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $337,290,766) | $319,516,829 |
Cash | 2,419 |
Receivable for: | |
Capital shares sold | 693,583 |
Interest | 4,024,130 |
Expense reimbursement due from Investment Manager | 2,486 |
Prepaid expenses | 9,446 |
Other assets | 2,296 |
Total assets | 324,251,189 |
Liabilities | |
Payable for: | |
Capital shares purchased | 629,300 |
Distributions to shareholders | 726,443 |
Management services fees | 12,465 |
Distribution and/or service fees | 1,204 |
Transfer agent fees | 12,958 |
Compensation of board members | 88,445 |
Compensation of chief compliance officer | 35 |
Other expenses | 15,989 |
Total liabilities | 1,486,839 |
Net assets applicable to outstanding capital stock | $322,764,350 |
Represented by | |
Paid in capital | 348,857,389 |
Total distributable earnings (loss) | (26,093,039) |
Total - representing net assets applicable to outstanding capital stock | $322,764,350 |
Class A | |
Net assets | $43,501,123 |
Shares outstanding | 4,614,679 |
Net asset value per share | $9.43 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.72 |
Advisor Class | |
Net assets | $10,235,618 |
Shares outstanding | 1,089,047 |
Net asset value per share | $9.40 |
Class C | |
Net assets | $3,790,196 |
Shares outstanding | 402,314 |
Net asset value per share | $9.42 |
Institutional Class | |
Net assets | $111,877,369 |
Shares outstanding | 11,885,995 |
Net asset value per share | $9.41 |
Institutional 2 Class | |
Net assets | $6,951,466 |
Shares outstanding | 741,252 |
Net asset value per share | $9.38 |
Institutional 3 Class | |
Net assets | $146,408,578 |
Shares outstanding | 15,571,457 |
Net asset value per share | $9.40 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 17 |
Six Months Ended October 31, 2022 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $15,618 |
Interest | 5,424,042 |
Total income | 5,439,660 |
Expenses: | |
Management services fees | 858,496 |
Distribution and/or service fees | |
Class A | 55,870 |
Class C | 20,785 |
Transfer agent fees | |
Class A | 17,176 |
Advisor Class | 1,072 |
Class C | 1,607 |
Institutional Class | 102,442 |
Institutional 2 Class | 2,501 |
Institutional 3 Class | 2,198 |
Compensation of board members | (8,135) |
Custodian fees | 1,433 |
Printing and postage fees | 6,909 |
Registration fees | 10,231 |
Audit fees | 15,233 |
Legal fees | 8,097 |
Interest on interfund lending | 4,162 |
Compensation of chief compliance officer | 35 |
Other | 7,952 |
Total expenses | 1,108,064 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (174,537) |
Expense reduction | (20) |
Total net expenses | 933,507 |
Net investment income | 4,506,153 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (3,550,665) |
Net realized loss | (3,550,665) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (8,080,411) |
Net change in unrealized appreciation (depreciation) | (8,080,411) |
Net realized and unrealized loss | (11,631,076) |
Net decrease in net assets resulting from operations | $(7,124,923) |
18 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
Six Months Ended October 31, 2022 (Unaudited) | Year Ended April 30, 2022 | |
Operations | ||
Net investment income | $4,506,153 | $9,738,299 |
Net realized loss | (3,550,665) | (73,035) |
Net change in unrealized appreciation (depreciation) | (8,080,411) | (39,228,429) |
Net decrease in net assets resulting from operations | (7,124,923) | (29,563,165) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (501,310) | (893,492) |
Advisor Class | (41,977) | (66,714) |
Class C | (31,078) | (70,128) |
Institutional Class | (2,944,311) | (8,342,248) |
Institutional 2 Class | (107,349) | (266,661) |
Institutional 3 Class | (854,143) | (145,031) |
Total distributions to shareholders | (4,480,168) | (9,784,274) |
Increase (decrease) in net assets from capital stock activity | (78,683,538) | 862,463 |
Total decrease in net assets | (90,288,629) | (38,484,976) |
Net assets at beginning of period | 413,052,979 | 451,537,955 |
Net assets at end of period | $322,764,350 | $413,052,979 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 19 |
Six Months Ended | Year Ended | |||
October 31, 2022 (Unaudited) | April 30, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 689,725 | 6,677,668 | 3,518,053 | 36,648,752 |
Distributions reinvested | 46,868 | 454,143 | 72,268 | 759,073 |
Redemptions | (668,159) | (6,502,737) | (2,244,598) | (23,381,283) |
Net increase | 68,434 | 629,074 | 1,345,723 | 14,026,542 |
Advisor Class | ||||
Subscriptions | 986,627 | 9,371,659 | 107,890 | 1,128,144 |
Distributions reinvested | 4,394 | 41,857 | 6,354 | 66,486 |
Redemptions | (77,115) | (743,820) | (216,260) | (2,167,760) |
Net increase (decrease) | 913,906 | 8,669,696 | (102,016) | (973,130) |
Class C | ||||
Subscriptions | 34,179 | 330,940 | 23,876 | 247,614 |
Distributions reinvested | 3,021 | 29,262 | 6,267 | 65,936 |
Redemptions | (81,638) | (794,500) | (298,587) | (3,176,633) |
Net decrease | (44,438) | (434,298) | (268,444) | (2,863,083) |
Institutional Class | ||||
Subscriptions | 4,717,066 | 45,920,860 | 6,833,501 | 70,244,123 |
Distributions reinvested | 137,819 | 1,334,820 | 231,554 | 2,418,651 |
Redemptions | (28,562,117) | (279,115,001) | (7,769,842) | (80,401,157) |
Net decrease | (23,707,232) | (231,859,321) | (704,787) | (7,738,383) |
Institutional 2 Class | ||||
Subscriptions | 92,365 | 893,170 | 81,308 | 863,980 |
Distributions reinvested | 11,061 | 106,779 | 25,441 | 266,469 |
Redemptions | (265,046) | (2,545,552) | (448,541) | (4,693,853) |
Net decrease | (161,620) | (1,545,603) | (341,792) | (3,563,404) |
Institutional 3 Class | ||||
Subscriptions | 17,021,016 | 166,501,237 | 304,843 | 3,163,361 |
Distributions reinvested | 9,005 | 86,995 | 13,836 | 144,475 |
Redemptions | (2,147,029) | (20,731,318) | (130,911) | (1,333,915) |
Net increase | 14,882,992 | 145,856,914 | 187,768 | 1,973,921 |
Total net increase (decrease) | (8,047,958) | (78,683,538) | 116,452 | 862,463 |
20 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
Columbia California Intermediate Municipal Bond Fund | Semiannual 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 | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.77 | 0.11 | (0.34) | (0.23) | (0.11) | (0.11) |
Year Ended 4/30/2022 | $10.71 | 0.21 | (0.94) | (0.73) | (0.21) | (0.21) |
Year Ended 4/30/2021 | $10.24 | 0.22 | 0.47 | 0.69 | (0.22) | (0.22) |
Year Ended 4/30/2020 | $10.46 | 0.24 | (0.22) | 0.02 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.23 | 0.27 | 0.23 | 0.50 | (0.27) | (0.27) |
Year Ended 4/30/2018 | $10.38 | 0.27 | (0.15) | 0.12 | (0.27) | (0.27) |
Advisor Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.75 | 0.13 | (0.36) | (0.23) | (0.12) | (0.12) |
Year Ended 4/30/2022 | $10.68 | 0.23 | (0.93) | (0.70) | (0.23) | (0.23) |
Year Ended 4/30/2021 | $10.21 | 0.25 | 0.47 | 0.72 | (0.25) | (0.25) |
Year Ended 4/30/2020 | $10.43 | 0.27 | (0.22) | 0.05 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.20 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.36 | 0.29 | (0.16) | 0.13 | (0.29) | (0.29) |
Class C | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.77 | 0.07 | (0.35) | (0.28) | (0.07) | (0.07) |
Year Ended 4/30/2022 | $10.71 | 0.13 | (0.94) | (0.81) | (0.13) | (0.13) |
Year Ended 4/30/2021 | $10.23 | 0.14 | 0.48 | 0.62 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.46 | 0.16 | (0.23) | (0.07) | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.22 | 0.20 | 0.24 | 0.44 | (0.20) | (0.20) |
Year Ended 4/30/2018 | $10.38 | 0.19 | (0.16) | 0.03 | (0.19) | (0.19) |
Institutional Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.75 | 0.12 | (0.34) | (0.22) | (0.12) | (0.12) |
Year Ended 4/30/2022 | $10.69 | 0.23 | (0.94) | (0.71) | (0.23) | (0.23) |
Year Ended 4/30/2021 | $10.21 | 0.25 | 0.48 | 0.73 | (0.25) | (0.25) |
Year Ended 4/30/2020 | $10.44 | 0.27 | (0.23) | 0.04 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.21 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.36 | 0.29 | (0.15) | 0.14 | (0.29) | (0.29) |
Institutional 2 Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.72 | 0.12 | (0.34) | (0.22) | (0.12) | (0.12) |
Year Ended 4/30/2022 | $10.66 | 0.24 | (0.94) | (0.70) | (0.24) | (0.24) |
Year Ended 4/30/2021 | $10.18 | 0.26 | 0.48 | 0.74 | (0.26) | (0.26) |
Year Ended 4/30/2020 | $10.41 | 0.27 | (0.22) | 0.05 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.18 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.33 | 0.30 | (0.15) | 0.15 | (0.30) | (0.30) |
22 | Columbia California Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.43 | (2.37%) | 0.82%(c),(d) | 0.73%(c),(d),(e) | 2.25%(c) | 1% | $43,501 |
Year Ended 4/30/2022 | $9.77 | (6.96%) | 0.85% | 0.74%(e) | 1.96% | 8% | $44,427 |
Year Ended 4/30/2021 | $10.71 | 6.80% | 0.87% | 0.75%(e) | 2.09% | 5% | $34,289 |
Year Ended 4/30/2020 | $10.24 | 0.17% | 0.86% | 0.75%(e) | 2.30% | 6% | $31,402 |
Year Ended 4/30/2019 | $10.46 | 5.00% | 0.87% | 0.74%(e) | 2.67% | 17% | $31,998 |
Year Ended 4/30/2018 | $10.23 | 1.10% | 0.88% | 0.74%(e) | 2.56% | 5% | $27,341 |
Advisor Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.40 | (2.36%) | 0.57%(c),(d) | 0.47%(c),(d),(e) | 2.64%(c) | 1% | $10,236 |
Year Ended 4/30/2022 | $9.75 | (6.65%) | 0.60% | 0.49%(e) | 2.21% | 8% | $1,707 |
Year Ended 4/30/2021 | $10.68 | 7.08% | 0.62% | 0.50%(e) | 2.34% | 5% | $2,961 |
Year Ended 4/30/2020 | $10.21 | 0.41% | 0.61% | 0.50%(e) | 2.54% | 6% | $2,354 |
Year Ended 4/30/2019 | $10.43 | 5.28% | 0.62% | 0.49%(e) | 2.92% | 17% | $2,254 |
Year Ended 4/30/2018 | $10.20 | 1.25% | 0.63% | 0.49%(e) | 2.83% | 5% | $1,931 |
Class C | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.42 | (2.85%) | 1.57%(c),(d) | 1.48%(c),(d),(e) | 1.50%(c) | 1% | $3,790 |
Year Ended 4/30/2022 | $9.77 | (7.65%) | 1.60% | 1.49%(e) | 1.20% | 8% | $4,363 |
Year Ended 4/30/2021 | $10.71 | 6.11% | 1.62% | 1.50%(e) | 1.35% | 5% | $7,658 |
Year Ended 4/30/2020 | $10.23 | (0.68%) | 1.61% | 1.50%(e) | 1.54% | 6% | $10,387 |
Year Ended 4/30/2019 | $10.46 | 4.32% | 1.62% | 1.49%(e) | 1.92% | 17% | $11,161 |
Year Ended 4/30/2018 | $10.22 | 0.25% | 1.63% | 1.49%(e) | 1.81% | 5% | $13,508 |
Institutional Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.41 | (2.26%) | 0.57%(c),(d) | 0.48%(c),(d),(e) | 2.45%(c) | 1% | $111,877 |
Year Ended 4/30/2022 | $9.75 | (6.74%) | 0.60% | 0.49%(e) | 2.21% | 8% | $347,070 |
Year Ended 4/30/2021 | $10.69 | 7.18% | 0.62% | 0.50%(e) | 2.34% | 5% | $388,017 |
Year Ended 4/30/2020 | $10.21 | 0.31% | 0.61% | 0.50%(e) | 2.54% | 6% | $382,665 |
Year Ended 4/30/2019 | $10.44 | 5.27% | 0.62% | 0.49%(e) | 2.92% | 17% | $343,276 |
Year Ended 4/30/2018 | $10.21 | 1.35% | 0.63% | 0.49%(e) | 2.82% | 5% | $365,455 |
Institutional 2 Class | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.38 | (2.26%) | 0.55%(c),(d) | 0.46%(c),(d) | 2.51%(c) | 1% | $6,951 |
Year Ended 4/30/2022 | $9.72 | (6.72%) | 0.55% | 0.44% | 2.25% | 8% | $8,777 |
Year Ended 4/30/2021 | $10.66 | 7.26% | 0.56% | 0.44% | 2.40% | 5% | $13,265 |
Year Ended 4/30/2020 | $10.18 | 0.37% | 0.55% | 0.44% | 2.60% | 6% | $10,846 |
Year Ended 4/30/2019 | $10.41 | 5.34% | 0.56% | 0.43% | 2.98% | 17% | $10,662 |
Year Ended 4/30/2018 | $10.18 | 1.42% | 0.56% | 0.42% | 2.89% | 5% | $7,363 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.74 | 0.13 | (0.34) | (0.21) | (0.13) | (0.13) |
Year Ended 4/30/2022 | $10.68 | 0.24 | (0.94) | (0.70) | (0.24) | (0.24) |
Year Ended 4/30/2021 | $10.21 | 0.26 | 0.47 | 0.73 | (0.26) | (0.26) |
Year Ended 4/30/2020 | $10.43 | 0.28 | (0.22) | 0.06 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.20 | 0.31 | 0.23 | 0.54 | (0.31) | (0.31) |
Year Ended 4/30/2018 | $10.35 | 0.30 | (0.15) | 0.15 | (0.30) | (0.30) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
24 | Columbia California Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2022 (Unaudited) | $9.40 | (2.23%) | 0.51%(c),(d) | 0.41%(c),(d) | 2.69%(c) | 1% | $146,409 |
Year Ended 4/30/2022 | $9.74 | (6.66%) | 0.50% | 0.39% | 2.31% | 8% | $6,708 |
Year Ended 4/30/2021 | $10.68 | 7.19% | 0.51% | 0.39% | 2.45% | 5% | $5,348 |
Year Ended 4/30/2020 | $10.21 | 0.52% | 0.50% | 0.39% | 2.64% | 6% | $5,307 |
Year Ended 4/30/2019 | $10.43 | 5.39% | 0.51% | 0.38% | 3.02% | 17% | $3,231 |
Year Ended 4/30/2018 | $10.20 | 1.46% | 0.52% | 0.38% | 2.95% | 5% | $866 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 25 |
October 31, 2022 (Unaudited)
26 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 27 |
October 31, 2022 (Unaudited)
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
1,081,160 | — | — |
28 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Effective rate (%) | |
Class A | 0.08 |
Advisor Class | 0.07 |
Class C | 0.08 |
Institutional Class | 0.08 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 29 |
October 31, 2022 (Unaudited)
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 5,910 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2022 through August 31, 2023 | Prior to September 1, 2022 | |
Class A | 0.75% | 0.75% |
Advisor Class | 0.50 | 0.50 |
Class C | 1.50 | 1.50 |
Institutional Class | 0.50 | 0.50 |
Institutional 2 Class | 0.47 | 0.45 |
Institutional 3 Class | 0.42 | 0.40 |
30 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
337,291,000 | 874,000 | (18,648,000) | (17,774,000) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(4,558,845) | (137,279) | (4,696,124) |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 10,242,857 | 2.10 | 7 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 31 |
October 31, 2022 (Unaudited)
32 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
October 31, 2022 (Unaudited)
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 33 |
October 31, 2022 (Unaudited)
34 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 35 |
(Unaudited)
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
36 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 |
(Unaudited)
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2022 | 37 |
(Unaudited)
On June 23, 2022, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
38 | Columbia California Intermediate Municipal Bond Fund | Semiannual 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.
Not applicable for semiannual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semiannual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semiannual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a) | The registrant’s “Schedule I – Investments in securities of unaffiliated issuers” (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive officer and principal financial officer, based on their evaluation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant’s management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. |
(b) | There was no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR: Not applicable for semiannual reports.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) | Columbia Funds Series Trust |
|
|
By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
|
|
Date | December 22, 2022 |
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|
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
|
|
Date | December 22, 2022 |
By (Signature and Title) | /s/ Michael G. Clarke |
| Michael G. Clarke, Chief Financial Officer, |
| Principal Financial Officer and Senior Vice President |
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|
Date | December 22, 2022 |
By (Signature and Title) | /s/ Joseph Beranek |
| Joseph Beranek, Treasurer, Chief Accounting |
| Officer and Principal Financial Officer |
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|
Date | December 22, 2022 |