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: February 28
Date of reporting period: February 28, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
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February 28, 2023
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(Unaudited)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/25/87 | -10.29 | 9.39 | 9.69 |
Including sales charges | -15.46 | 8.10 | 9.04 | ||
Advisor Class | 11/08/12 | -10.04 | 9.68 | 9.97 | |
Class C | Excluding sales charges | 10/21/96 | -10.94 | 8.58 | 8.87 |
Including sales charges | -11.75 | 8.58 | 8.87 | ||
Institutional Class | 05/21/99 | -10.04 | 9.67 | 9.97 | |
Institutional 2 Class | 11/08/12 | -10.00 | 9.74 | 10.06 | |
Institutional 3 Class* | 10/01/14 | -9.93 | 9.80 | 10.04 | |
Class R | 11/16/11 | -10.46 | 9.12 | 9.42 | |
ICE BofA US Convertible Index | -9.18 | 9.82 | 10.01 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Convertible Securities Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img4aee7ecd3.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 3.7 |
Convertible Bonds | 82.5 |
Convertible Preferred Stocks | 13.3 |
Money Market Funds | 0.5 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 6.5 |
Consumer Discretionary | 5.4 |
Energy | 9.5 |
Financials | 11.9 |
Health Care | 14.3 |
Industrials | 12.0 |
Information Technology | 7.2 |
Real Estate | 3.2 |
Utilities | 30.0 |
Total | 100.0 |
4 | Columbia Convertible Securities Fund | Annual Report 2023 |
(Unaudited)
• | The information technology sector was the area of largest detraction for the Fund overall during the period, with holdings in the software, IT services and electronic equipment industries weighing most on performance. |
• | The communications services sector, particularly interactive media, media and entertainment also delivered negative results for the Fund. |
• | Internet and direct marketing within the consumer discretionary sector, and biotechnology within the health care sector, also delivered disappointing results for the Fund. |
• | Individual holdings that detracted most during the period included biotechnology company Clovis Oncology, television and direct-broadcast satellite provider Dish Network, internet dating application company Match Group, online home goods retailer Wayfair and cryptocurrency mining company Marathon Digital Holdings. |
• | The Fund’s selections within the energy sector contributed during the period, particularly within oil gas and consumable fuels. |
• | Contribution to the Fund’s performance also came from positive results within the financials sector, particularly from the banks and mortgage real estate investment trusts segments and the consumer staples sector, particularly the beverages and food products areas. |
• | Within the industrials sector, the construction & engineering industry and the electrical equipment industry also delivered positive results for the Fund. |
Columbia Convertible Securities Fund | Annual Report 2023 | 5 |
(Unaudited)
• | The Fund’s allocation to semiconductors, within the information technology sector, was also additive to Fund performance. |
• | Individual names that contributed most during the annual period included diabetes management company Dexcom, traditional energy issuer EQT Corp., global cruise company Royal Caribbean Group, engineering and construction company Fluor Corp. and video sharing website Bilibili. The Fund’s position in Fluor was sold duiring the period. |
6 | Columbia Convertible Securities Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 986.70 | 1,019.24 | 5.52 | 5.61 | 1.12 |
Advisor Class | 1,000.00 | 1,000.00 | 988.20 | 1,020.48 | 4.29 | 4.36 | 0.87 |
Class C | 1,000.00 | 1,000.00 | 982.90 | 1,015.52 | 9.19 | 9.35 | 1.87 |
Institutional Class | 1,000.00 | 1,000.00 | 988.00 | 1,020.48 | 4.29 | 4.36 | 0.87 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 988.40 | 1,020.73 | 4.04 | 4.11 | 0.82 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 988.80 | 1,020.93 | 3.85 | 3.91 | 0.78 |
Class R | 1,000.00 | 1,000.00 | 985.90 | 1,018.00 | 6.75 | 6.85 | 1.37 |
Columbia Convertible Securities Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 3.6% | ||
Issuer | Shares | Value ($) |
Energy 1.6% | ||
Oil, Gas & Consumable Fuels 1.6% | ||
Ascent Resources, Class B(a),(b),(c),(d) | 10,248,729 | 2,295,715 |
EQT Corp. | 200,000 | 6,636,000 |
Pioneer Natural Resources Co. | 65,200 | 13,066,732 |
Total | 21,998,447 | |
Total Energy | 21,998,447 | |
Health Care 0.5% | ||
Health Care Providers & Services 0.5% | ||
Elevance Health, Inc. | 15,000 | 7,045,050 |
Total Health Care | 7,045,050 | |
Industrials 0.5% | ||
Airlines 0.5% | ||
Southwest Airlines Co. | 200,000 | 6,716,000 |
Total Industrials | 6,716,000 | |
Information Technology 0.5% | ||
Semiconductors & Semiconductor Equipment 0.5% | ||
Microchip Technology, Inc. | 90,000 | 7,292,700 |
Total Information Technology | 7,292,700 | |
Real Estate 0.5% | ||
Equity Real Estate Investment Trusts (REITS) 0.5% | ||
Kite Realty Group Trust | 340,000 | 7,384,800 |
Total Real Estate | 7,384,800 | |
Total Common Stocks (Cost $43,201,302) | 50,436,997 |
Convertible Bonds(e) 81.0% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 0.6% | ||||
Axon Enterprise, Inc.(f) | ||||
12/15/2027 | 0.500% | 8,432,000 | 9,085,480 | |
Airlines 1.5% | ||||
American Airlines Group, Inc. | ||||
07/01/2025 | 6.500% | 8,850,000 | 10,668,675 | |
JetBlue Airways Corp. | ||||
04/01/2026 | 0.500% | 13,880,000 | 10,693,795 | |
Total | 21,362,470 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Automotive 0.7% | ||||
Lucid Group, Inc.(f) | ||||
12/15/2026 | 1.250% | 15,860,000 | 9,516,000 | |
Building Materials 0.6% | ||||
Patrick Industries, Inc. | ||||
12/01/2028 | 1.750% | 8,850,000 | 8,125,406 | |
Cable and Satellite 3.3% | ||||
Cable One, Inc. | ||||
03/15/2028 | 1.125% | 12,000,000 | 8,706,000 | |
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 38,778,000 | 24,782,249 | |
Liberty Media Corp-Liberty Formula One(f) | ||||
08/15/2027 | 2.250% | 11,900,000 | 12,066,600 | |
Total | 45,554,849 | |||
Consumer Cyclical Services 4.4% | ||||
Airbnb, Inc.(g) | ||||
03/15/2026 | 0.000% | 9,010,000 | 7,757,610 | |
Alarm.com Holdings, Inc.(g) | ||||
01/15/2026 | 0.000% | 13,000,000 | 10,652,101 | |
Lyft, Inc. | ||||
05/15/2025 | 1.500% | 7,380,000 | 6,435,360 | |
Match Group FinanceCo 3, Inc.(f) | ||||
01/15/2030 | 2.000% | 15,848,000 | 13,954,164 | |
Virgin Galactic Holdings, Inc.(f) | ||||
02/01/2027 | 2.500% | 11,850,000 | 7,197,549 | |
Zillow Group, Inc. | ||||
05/15/2025 | 2.750% | 15,254,000 | 15,391,286 | |
Total | 61,388,070 | |||
Consumer Products 0.8% | ||||
Beauty Health Co. (The)(f) | ||||
10/01/2026 | 1.250% | 12,850,000 | 10,593,219 | |
Diversified Manufacturing 2.8% | ||||
Array Technologies, Inc. | ||||
12/01/2028 | 1.000% | 5,940,000 | 5,957,820 | |
Bloom Energy Corp. | ||||
08/15/2025 | 2.500% | 4,440,000 | 6,486,840 | |
Enphase Energy, Inc.(g) | ||||
03/01/2028 | 0.000% | 9,069,000 | 9,350,535 | |
Greenbrier Companies, Inc. (The) | ||||
04/15/2028 | 2.875% | 11,488,000 | 9,787,776 |
8 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
John Bean Technologies Corp. | ||||
05/15/2026 | 0.250% | 7,930,000 | 7,244,055 | |
Total | 38,827,026 | |||
Electric 1.4% | ||||
CenterPoint Energy, Inc.(h) | ||||
Subordinated | ||||
09/15/2029 | 3.369% | 286,500 | 11,434,215 | |
Sunnova Energy International, Inc.(f) | ||||
02/15/2028 | 2.625% | 10,820,000 | 8,475,367 | |
Total | 19,909,582 | |||
Food and Beverage 1.3% | ||||
Chefs’ Warehouse, Inc. (The)(f) | ||||
12/15/2028 | 2.375% | 6,500,000 | 6,462,494 | |
Post Holdings, Inc.(f) | ||||
08/15/2027 | 2.500% | 10,900,000 | 11,273,870 | |
Total | 17,736,364 | |||
Health Care 8.8% | ||||
CONMED Corp.(f) | ||||
06/15/2027 | 2.250% | 14,367,000 | 13,526,530 | |
Dexcom, Inc. | ||||
11/15/2025 | 0.250% | 15,880,000 | 16,808,980 | |
DexCom, Inc. | ||||
12/01/2023 | 0.750% | 3,335,000 | 9,009,503 | |
Exact Sciences Corp. | ||||
03/01/2028 | 0.375% | 23,980,000 | 20,668,388 | |
Insulet Corp. | ||||
09/01/2026 | 0.375% | 9,830,000 | 13,088,645 | |
Integer Holdings Corp.(f) | ||||
02/15/2028 | 2.125% | 9,000,000 | 9,589,500 | |
Natera, Inc. | ||||
05/01/2027 | 2.250% | 8,873,000 | 13,087,675 | |
NeoGenomics, Inc. | ||||
05/01/2025 | 1.250% | 9,850,000 | 9,037,375 | |
Oak Street Health, Inc.(g) | ||||
03/15/2026 | 0.000% | 10,000,000 | 9,251,829 | |
Teladoc Health, Inc. | ||||
06/01/2027 | 1.250% | 10,000,000 | 7,818,269 | |
Total | 121,886,694 | |||
Independent Energy 0.8% | ||||
Chesapeake Energy Escrow | ||||
09/15/2026 | 5.500% | 10,200,000 | 183,600 | |
Northern Oil and Gas, Inc.(f) | ||||
04/15/2029 | 3.625% | 9,910,000 | 10,678,025 | |
Total | 10,861,625 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Leisure 4.5% | ||||
Carnival Corp.(f) | ||||
12/01/2027 | 5.750% | 9,910,000 | 10,935,685 | |
Live Nation Entertainment, Inc.(f) | ||||
01/15/2029 | 3.125% | 13,890,000 | 13,751,100 | |
NCL Corp., Ltd. | ||||
02/15/2027 | 2.500% | 33,550,000 | 26,324,404 | |
Royal Caribbean Cruises Ltd.(f) | ||||
08/15/2025 | 6.000% | 6,940,000 | 11,235,860 | |
Total | 62,247,049 | |||
Lodging 0.7% | ||||
Marriott Vacations Worldwide Corp.(f) | ||||
12/15/2027 | 3.250% | 9,680,000 | 9,955,880 | |
Media and Entertainment 3.9% | ||||
Bilibili, Inc. | ||||
12/01/2026 | 0.500% | 20,720,000 | 17,415,160 | |
fuboTV, Inc. | ||||
02/15/2026 | 3.250% | 18,000,000 | 8,613,209 | |
Snap, Inc. | ||||
03/01/2028 | 0.125% | 40,000,000 | 27,900,000 | |
Total | 53,928,369 | |||
Metals and Mining 2.8% | ||||
Ivanhoe Mines Ltd.(f) | ||||
04/15/2026 | 2.500% | 5,775,000 | 7,365,030 | |
Lithium Americas Corp. | ||||
01/15/2027 | 1.750% | 16,780,000 | 14,164,132 | |
MP Materials Corp.(f) | ||||
04/01/2026 | 0.250% | 9,870,000 | 10,107,573 | |
Peabody Energy Corp.(f) | ||||
03/01/2028 | 3.250% | 4,410,000 | 7,038,360 | |
Total | 38,675,095 | |||
Oil Field Services 0.6% | ||||
Nabors Industries, Inc.(f) | ||||
06/15/2029 | 1.750% | 9,000,000 | 9,018,146 | |
Other Industry 0.5% | ||||
KBR, Inc. | ||||
11/01/2023 | 2.500% | 3,040,000 | 6,640,880 | |
Other REIT 1.4% | ||||
Blackstone Mortgage Trust, Inc. | ||||
03/15/2027 | 5.500% | 8,920,000 | 7,938,800 |
Columbia Convertible Securities Fund | Annual Report 2023 | 9 |
February 28, 2023
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Pebblebrook Hotel Trust | ||||
12/15/2026 | 1.750% | 13,000,000 | 11,108,500 | |
Total | 19,047,300 | |||
Pharmaceuticals 9.2% | ||||
Alnylam Pharmaceuticals, Inc.(f) | ||||
09/15/2027 | 1.000% | 13,880,000 | 13,260,389 | |
BridgeBio Pharma, Inc. | ||||
02/01/2029 | 2.250% | 22,700,000 | 8,603,300 | |
Canopy Growth Corp.(f) | ||||
07/15/2023 | 4.250% | CAD | 13,000,000 | 9,092,664 |
Clovis Oncology, Inc.(i) | ||||
05/01/2025 | 0.000% | 21,000,000 | 2,572,500 | |
Collegium Pharmaceutical, Inc.(f) | ||||
02/15/2029 | 2.875% | 7,000,000 | 6,733,937 | |
Cytokinetics, Inc.(f) | ||||
07/01/2027 | 3.500% | 10,410,000 | 11,503,050 | |
Esperion Therapeutics, Inc. | ||||
11/15/2025 | 4.000% | 13,900,000 | 8,773,647 | |
Halozyme Therapeutics, Inc. | ||||
03/01/2027 | 0.250% | 14,890,000 | 13,261,585 | |
Insmed, Inc. | ||||
06/01/2028 | 0.750% | 18,030,000 | 15,582,018 | |
Ionis Pharmaceuticals, Inc.(g) | ||||
04/01/2026 | 0.000% | 8,840,000 | 8,016,775 | |
Jazz Investments I Ltd. | ||||
06/15/2026 | 2.000% | 12,100,000 | 13,113,375 | |
Sarepta Therapeutics, Inc.(f) | ||||
09/15/2027 | 1.250% | 14,870,000 | 16,634,889 | |
Total | 127,148,129 | |||
Retailers 3.6% | ||||
Etsy, Inc. | ||||
06/15/2028 | 0.250% | 23,630,000 | 19,650,183 | |
Farfetch Ltd. | ||||
05/01/2027 | 3.750% | 10,380,000 | 8,530,943 | |
Wayfair, Inc. | ||||
08/15/2026 | 1.000% | 30,745,000 | 21,099,252 | |
Total | 49,280,378 | |||
Technology 26.0% | ||||
2U, Inc. | ||||
05/01/2025 | 2.250% | 18,750,000 | 15,168,750 | |
Akamai Technologies, Inc. | ||||
09/01/2027 | 0.375% | 15,725,000 | 13,955,937 | |
Bandwidth, Inc. | ||||
03/01/2026 | 0.250% | 14,750,000 | 11,129,909 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Bentley Systems, Inc. | ||||
07/01/2027 | 0.375% | 15,750,000 | 13,080,375 | |
BigCommerce Holdings, Inc. | ||||
10/01/2026 | 0.250% | 16,780,000 | 12,694,070 | |
Bill.com Holdings, Inc.(g) | ||||
04/01/2027 | 0.000% | 22,900,000 | 17,816,200 | |
Datadog, Inc. | ||||
06/15/2025 | 0.125% | 10,023,000 | 10,980,197 | |
Dropbox, Inc.(g) | ||||
03/01/2028 | 0.000% | 20,500,000 | 17,425,000 | |
Envestnet, Inc.(f) | ||||
12/01/2027 | 2.625% | 7,930,000 | 8,576,295 | |
Everbridge, Inc. | ||||
12/15/2024 | 0.125% | 10,850,000 | 9,750,711 | |
indie Semiconductor, Inc.(f) | ||||
11/15/2027 | 4.500% | 7,920,000 | 11,541,757 | |
Infinera Corp.(f) | ||||
08/01/2028 | 3.750% | 6,530,000 | 8,443,290 | |
Lumentum Holdings, Inc.(f) | ||||
06/15/2028 | 0.500% | 29,137,000 | 21,929,023 | |
MACOM Technology Solutions Holdings, Inc. | ||||
03/15/2026 | 0.250% | 13,881,000 | 14,318,251 | |
Marathon Digital Holdings, Inc. | ||||
12/01/2026 | 1.000% | 17,780,000 | 6,220,510 | |
MongoDB, Inc. | ||||
01/15/2026 | 0.250% | 11,370,000 | 13,746,330 | |
Nutanix, Inc. | ||||
10/01/2027 | 0.250% | 12,500,000 | 10,621,452 | |
Okta, Inc. | ||||
06/15/2026 | 0.375% | 27,000,000 | 22,599,000 | |
ON Semiconductor Corp.(f) | ||||
03/01/2029 | 0.500% | 22,500,000 | 22,619,057 | |
Palo Alto Networks, Inc. | ||||
06/01/2025 | 0.375% | 16,347,000 | 31,181,902 | |
Shift4 Payments, Inc. | ||||
08/01/2027 | 0.500% | 24,230,000 | 21,043,755 | |
SMART Global Holdings, Inc. | ||||
02/01/2029 | 2.000% | 9,980,000 | 10,049,860 | |
Tyler Technologies, Inc. | ||||
03/15/2026 | 0.250% | 10,850,000 | 10,095,925 | |
Wolfspeed, Inc.(f) | ||||
12/01/2029 | 1.875% | 15,383,000 | 14,490,786 | |
Zscaler, Inc. | ||||
07/01/2025 | 0.125% | 10,070,000 | 11,172,665 | |
Total | 360,651,007 |
10 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Transportation Services 0.8% | ||||
CryoPort, Inc.(f) | ||||
12/01/2026 | 0.750% | 13,850,000 | 11,012,424 | |
Total Convertible Bonds (Cost $1,252,382,317) | 1,122,451,442 |
Convertible Preferred Stocks 13.1% | |||
Issuer | Shares | Value ($) | |
Communication Services 1.1% | |||
Diversified Telecommunication Services 1.1% | |||
2020 Cash Mandatory Exchangeable Trust(f) | 5.250% | 13,000 | 15,073,543 |
Total Communication Services | 15,073,543 | ||
Consumer Discretionary 0.9% | |||
Auto Components 0.9% | |||
Aptiv PLC | 5.500% | 97,400 | 12,385,601 |
Total Consumer Discretionary | 12,385,601 | ||
Financials 2.0% | |||
Banks 1.2% | |||
Bank of America Corp. | 7.250% | 13,500 | 16,116,840 |
Capital Markets 0.8% | |||
KKR & Co., Inc. | 6.000% | 169,900 | 11,422,377 |
Total Financials | 27,539,217 | ||
Health Care 1.9% | |||
Health Care Equipment & Supplies 1.4% | |||
Becton Dickinson and Co. | 6.000% | 180,000 | 8,672,400 |
Boston Scientific Corp. | 5.500% | 98,100 | 11,116,898 |
Total | 19,789,298 | ||
Life Sciences Tools & Services 0.5% | |||
Danaher Corp. | 5.000% | 4,990 | 6,303,955 |
Total Health Care | 26,093,253 | ||
Industrials 1.5% | |||
Machinery 0.8% | |||
Chart Industries, Inc., ADR | 6.750% | 192,300 | 10,651,497 |
Convertible Preferred Stocks (continued) | |||
Issuer | Shares | Value ($) | |
Professional Services 0.7% | |||
Clarivate PLC | 5.250% | 238,550 | 10,516,336 |
Total Industrials | 21,167,833 | ||
Information Technology 0.7% | |||
Electronic Equipment, Instruments & Components 0.7% | |||
Coherent Corp. | 6.000% | 50,000 | 9,465,601 |
Total Information Technology | 9,465,601 | ||
Utilities 5.0% | |||
Electric Utilities 3.2% | |||
American Electric Power Co., Inc. | 6.125% | 242,000 | 11,884,620 |
NextEra Energy, Inc. | 6.926% | 691,000 | 32,007,120 |
Total | 43,891,740 | ||
Gas Utilities 0.5% | |||
UGI Corp. | 7.250% | 80,000 | 6,788,000 |
Multi-Utilities 1.3% | |||
NiSource, Inc. | 7.750% | 180,000 | 18,734,400 |
Total Utilities | 69,414,140 | ||
Total Convertible Preferred Stocks (Cost $184,818,641) | 181,139,188 |
Money Market Funds 0.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(j),(k) | 6,894,163 | 6,891,405 |
Total Money Market Funds (Cost $6,891,388) | 6,891,405 | |
Total Investments in Securities (Cost: $1,487,293,648) | 1,360,919,032 | |
Other Assets & Liabilities, Net | 24,287,745 | |
Net Assets | 1,385,206,777 |
Columbia Convertible Securities Fund | Annual Report 2023 | 11 |
February 28, 2023
(a) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At February 28, 2023, the total value of these securities amounted to $2,295,715, which represents 0.17% of total net assets. |
(b) | Non-income producing investment. |
(c) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At February 28, 2023, the total market value of these securities amounted to $2,295,715, which represents 0.17% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Ascent Resources, Class B | 02/20/2014-11/15/2016 | 10,248,729 | 358,011 | 2,295,715 |
(d) | Valuation based on significant unobservable inputs. |
(e) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(f) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At February 28, 2023, the total value of these securities amounted to $372,737,536, which represents 26.91% of total net assets. |
(g) | Zero coupon bond. |
(h) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of February 28, 2023. |
(i) | Represents a security in default. |
(j) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
(k) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
665,824 | 628,541,453 | (622,315,822) | (50) | 6,891,405 | 2,972 | 467,264 | 6,894,163 |
ADR | American Depositary Receipt |
CAD | Canada Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
12 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Energy | 19,702,732 | — | 2,295,715 | 21,998,447 |
Health Care | 7,045,050 | — | — | 7,045,050 |
Industrials | 6,716,000 | — | — | 6,716,000 |
Information Technology | 7,292,700 | — | — | 7,292,700 |
Real Estate | 7,384,800 | — | — | 7,384,800 |
Total Common Stocks | 48,141,282 | — | 2,295,715 | 50,436,997 |
Convertible Bonds | — | 1,122,451,442 | — | 1,122,451,442 |
Convertible Preferred Stocks | ||||
Communication Services | — | 15,073,543 | — | 15,073,543 |
Consumer Discretionary | — | 12,385,601 | — | 12,385,601 |
Financials | — | 27,539,217 | — | 27,539,217 |
Health Care | — | 26,093,253 | — | 26,093,253 |
Industrials | — | 21,167,833 | — | 21,167,833 |
Information Technology | — | 9,465,601 | — | 9,465,601 |
Utilities | — | 69,414,140 | — | 69,414,140 |
Total Convertible Preferred Stocks | — | 181,139,188 | — | 181,139,188 |
Money Market Funds | 6,891,405 | — | — | 6,891,405 |
Total Investments in Securities | 55,032,687 | 1,303,590,630 | 2,295,715 | 1,360,919,032 |
Columbia Convertible Securities Fund | Annual Report 2023 | 13 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,480,402,260) | $1,354,027,627 |
Affiliated issuers (cost $6,891,388) | 6,891,405 |
Receivable for: | |
Investments sold | 28,138,037 |
Capital shares sold | 1,215,328 |
Dividends | 2,465,560 |
Interest | 3,628,755 |
Expense reimbursement due from Investment Manager | 1,110 |
Prepaid expenses | 16,789 |
Total assets | 1,396,384,611 |
Liabilities | |
Payable for: | |
Investments purchased | 7,683,234 |
Capital shares purchased | 3,119,617 |
Management services fees | 29,396 |
Distribution and/or service fees | 3,401 |
Transfer agent fees | 112,371 |
Compensation of board members | 165,981 |
Compensation of chief compliance officer | 268 |
Other expenses | 63,566 |
Total liabilities | 11,177,834 |
Net assets applicable to outstanding capital stock | $1,385,206,777 |
Represented by | |
Paid in capital | 1,563,783,494 |
Total distributable earnings (loss) | (178,576,717) |
Total - representing net assets applicable to outstanding capital stock | $1,385,206,777 |
14 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Class A | |
Net assets | $311,254,270 |
Shares outstanding | 16,073,758 |
Net asset value per share | $19.36 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $20.54 |
Advisor Class | |
Net assets | $108,831,397 |
Shares outstanding | 5,531,111 |
Net asset value per share | $19.68 |
Class C | |
Net assets | $45,630,724 |
Shares outstanding | 2,369,817 |
Net asset value per share | $19.25 |
Institutional Class | |
Net assets | $642,404,148 |
Shares outstanding | 33,094,320 |
Net asset value per share | $19.41 |
Institutional 2 Class | |
Net assets | $159,146,265 |
Shares outstanding | 8,103,239 |
Net asset value per share | $19.64 |
Institutional 3 Class | |
Net assets | $116,902,520 |
Shares outstanding | 5,878,646 |
Net asset value per share | $19.89 |
Class R | |
Net assets | $1,037,453 |
Shares outstanding | 53,649 |
Net asset value per share | $19.34 |
Columbia Convertible Securities Fund | Annual Report 2023 | 15 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $19,405,142 |
Dividends — affiliated issuers | 467,264 |
Interest | 27,752,124 |
Interfund lending | 1,153 |
Total income | 47,625,683 |
Expenses: | |
Management services fees | 12,167,755 |
Distribution and/or service fees | |
Class A | 857,087 |
Class C | 576,359 |
Class R | 5,575 |
Transfer agent fees | |
Class A | 354,499 |
Advisor Class | 135,132 |
Class C | 59,519 |
Institutional Class | 848,355 |
Institutional 2 Class | 82,081 |
Institutional 3 Class | 6,953 |
Class R | 1,155 |
Compensation of board members | 31,236 |
Custodian fees | 12,738 |
Printing and postage fees | 113,000 |
Registration fees | 155,416 |
Audit fees | 30,090 |
Legal fees | 34,165 |
Interest on interfund lending | 348 |
Compensation of chief compliance officer | 259 |
Other | 38,677 |
Total expenses | 15,510,399 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (351,608) |
Fees waived by transfer agent | |
Institutional 2 Class | (9,000) |
Institutional 3 Class | (1,911) |
Expense reduction | (500) |
Total net expenses | 15,147,380 |
Net investment income | 32,478,303 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (24,737,637) |
Investments — affiliated issuers | 2,972 |
Foreign currency translations | (5,160) |
Net realized loss | (24,739,825) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (229,316,128) |
Investments — affiliated issuers | (50) |
Foreign currency translations | (857) |
Net change in unrealized appreciation (depreciation) | (229,317,035) |
Net realized and unrealized loss | (254,056,860) |
Net decrease in net assets resulting from operations | $(221,578,557) |
16 | Columbia Convertible Securities Fund | Annual Report 2023 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $32,478,303 | $25,553,826 |
Net realized gain (loss) | (24,739,825) | 347,910,870 |
Net change in unrealized appreciation (depreciation) | (229,317,035) | (597,684,416) |
Net decrease in net assets resulting from operations | (221,578,557) | (224,219,720) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (30,233,550) | (99,541,078) |
Advisor Class | (11,773,057) | (42,828,942) |
Class C | (4,831,018) | (17,238,856) |
Institutional Class | (79,882,753) | (257,850,064) |
Institutional 2 Class | (11,497,200) | (45,510,274) |
Institutional 3 Class | (6,548,066) | (24,603,005) |
Class R | (97,258) | (316,475) |
Total distributions to shareholders | (144,862,902) | (487,888,694) |
Increase (decrease) in net assets from capital stock activity | (293,613,385) | 64,917,630 |
Total decrease in net assets | (660,054,844) | (647,190,784) |
Net assets at beginning of year | 2,045,261,621 | 2,692,452,405 |
Net assets at end of year | $1,385,206,777 | $2,045,261,621 |
Columbia Convertible Securities Fund | Annual Report 2023 | 17 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,153,106 | 65,292,546 | 3,228,830 | 92,003,782 |
Distributions reinvested | 1,184,593 | 21,996,997 | 2,846,504 | 75,156,224 |
Redemptions | (5,666,325) | (113,479,702) | (6,914,880) | (191,621,486) |
Net decrease | (1,328,626) | (26,190,159) | (839,546) | (24,461,480) |
Advisor Class | ||||
Subscriptions | 2,222,378 | 45,927,621 | 3,734,410 | 109,600,435 |
Distributions reinvested | 620,792 | 11,742,400 | 1,602,315 | 42,763,655 |
Redemptions | (4,655,942) | (95,824,377) | (5,156,959) | (145,063,892) |
Net increase (decrease) | (1,812,772) | (38,154,356) | 179,766 | 7,300,198 |
Class C | ||||
Subscriptions | 234,307 | 4,684,689 | 539,063 | 15,538,783 |
Distributions reinvested | 236,326 | 4,340,270 | 592,034 | 15,484,137 |
Redemptions | (1,401,424) | (28,094,414) | (970,376) | (26,782,063) |
Net increase (decrease) | (930,791) | (19,069,455) | 160,721 | 4,240,857 |
Institutional Class | ||||
Subscriptions | 12,948,975 | 268,707,523 | 13,759,425 | 391,569,803 |
Distributions reinvested | 3,601,675 | 67,160,136 | 8,000,005 | 211,130,201 |
Redemptions | (29,452,702) | (592,154,282) | (19,464,113) | (535,994,990) |
Net increase (decrease) | (12,902,052) | (256,286,623) | 2,295,317 | 66,705,014 |
Institutional 2 Class | ||||
Subscriptions | 6,039,567 | 124,193,181 | 3,662,138 | 106,043,960 |
Distributions reinvested | 539,086 | 10,201,158 | 1,571,227 | 41,882,441 |
Redemptions | (5,966,797) | (122,566,707) | (5,017,678) | (137,042,082) |
Net increase | 611,856 | 11,827,632 | 215,687 | 10,884,319 |
Institutional 3 Class | ||||
Subscriptions | 4,735,906 | 97,483,006 | 1,091,018 | 31,642,676 |
Distributions reinvested | 305,995 | 5,862,118 | 904,559 | 24,378,433 |
Redemptions | (3,343,490) | (69,083,430) | (2,002,471) | (55,368,594) |
Net increase (decrease) | 1,698,411 | 34,261,694 | (6,894) | 652,515 |
Class R | ||||
Subscriptions | 9,048 | 181,071 | 24,002 | 659,851 |
Distributions reinvested | 4,960 | 91,836 | 8,976 | 236,924 |
Redemptions | (14,214) | (275,025) | (45,984) | (1,300,568) |
Net decrease | (206) | (2,118) | (13,006) | (403,793) |
Total net increase (decrease) | (14,664,180) | (293,613,385) | 1,992,045 | 64,917,630 |
18 | Columbia Convertible Securities Fund | Annual Report 2023 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $23.74 | 0.38 | (2.93) | (2.55) | (0.39) | (1.44) | (1.83) |
Year Ended 2/28/2022 | $32.01 | 0.24 | (2.84) | (2.60) | (0.22) | (5.45) | (5.67) |
Year Ended 2/28/2021 | $22.09 | 0.34 | 11.92 | 12.26 | (0.44) | (1.90) | (2.34) |
Year Ended 2/29/2020 | $20.92 | 0.39 | 2.18 | 2.57 | (0.50) | (0.90) | (1.40) |
Year Ended 2/28/2019 | $20.41 | 0.39 | 1.11 | 1.50 | (0.40) | (0.59) | (0.99) |
Advisor Class | |||||||
Year Ended 2/28/2023 | $24.09 | 0.43 | (2.95) | (2.52) | (0.45) | (1.44) | (1.89) |
Year Ended 2/28/2022 | $32.40 | 0.32 | (2.89) | (2.57) | (0.29) | (5.45) | (5.74) |
Year Ended 2/28/2021 | $22.34 | 0.41 | 12.06 | 12.47 | (0.51) | (1.90) | (2.41) |
Year Ended 2/29/2020 | $21.14 | 0.45 | 2.20 | 2.65 | (0.55) | (0.90) | (1.45) |
Year Ended 2/28/2019 | $20.61 | 0.44 | 1.13 | 1.57 | (0.45) | (0.59) | (1.04) |
Class C | |||||||
Year Ended 2/28/2023 | $23.60 | 0.22 | (2.89) | (2.67) | (0.24) | (1.44) | (1.68) |
Year Ended 2/28/2022 | $31.88 | 0.03 | (2.85) | (2.82) | (0.01) | (5.45) | (5.46) |
Year Ended 2/28/2021 | $22.00 | 0.15 | 11.89 | 12.04 | (0.26) | (1.90) | (2.16) |
Year Ended 2/29/2020 | $20.84 | 0.23 | 2.17 | 2.40 | (0.34) | (0.90) | (1.24) |
Year Ended 2/28/2019 | $20.33 | 0.23 | 1.12 | 1.35 | (0.25) | (0.59) | (0.84) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $23.79 | 0.43 | (2.92) | (2.49) | (0.45) | (1.44) | (1.89) |
Year Ended 2/28/2022 | $32.08 | 0.31 | (2.86) | (2.55) | (0.29) | (5.45) | (5.74) |
Year Ended 2/28/2021 | $22.13 | 0.41 | 11.95 | 12.36 | (0.51) | (1.90) | (2.41) |
Year Ended 2/29/2020 | $20.96 | 0.45 | 2.17 | 2.62 | (0.55) | (0.90) | (1.45) |
Year Ended 2/28/2019 | $20.44 | 0.44 | 1.12 | 1.56 | (0.45) | (0.59) | (1.04) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $24.05 | 0.46 | (2.97) | (2.51) | (0.46) | (1.44) | (1.90) |
Year Ended 2/28/2022 | $32.36 | 0.33 | (2.88) | (2.55) | (0.31) | (5.45) | (5.76) |
Year Ended 2/28/2021 | $22.31 | 0.43 | 12.04 | 12.47 | (0.52) | (1.90) | (2.42) |
Year Ended 2/29/2020 | $21.12 | 0.47 | 2.18 | 2.65 | (0.56) | (0.90) | (1.46) |
Year Ended 2/28/2019 | $20.59 | 0.45 | 1.14 | 1.59 | (0.47) | (0.59) | (1.06) |
20 | Columbia Convertible Securities Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $19.36 | (10.29%) | 1.14%(c) | 1.12%(c),(d) | 1.88% | 59% | $311,254 |
Year Ended 2/28/2022 | $23.74 | (9.04%) | 1.10%(c) | 1.10%(c),(d) | 0.83% | 92% | $413,074 |
Year Ended 2/28/2021 | $32.01 | 58.37% | 1.12%(c) | 1.12%(c),(d) | 1.32% | 98% | $584,015 |
Year Ended 2/29/2020 | $22.09 | 12.55% | 1.17%(c) | 1.12%(c),(d) | 1.81% | 74% | $317,365 |
Year Ended 2/28/2019 | $20.92 | 7.70% | 1.20%(c) | 1.13%(c),(d) | 1.88% | 60% | $286,075 |
Advisor Class | |||||||
Year Ended 2/28/2023 | $19.68 | (10.04%) | 0.89%(c) | 0.87%(c),(d) | 2.10% | 59% | $108,831 |
Year Ended 2/28/2022 | $24.09 | (8.82%) | 0.85%(c) | 0.85%(c),(d) | 1.08% | 92% | $176,880 |
Year Ended 2/28/2021 | $32.40 | 58.75% | 0.88%(c) | 0.88%(c),(d) | 1.55% | 98% | $232,118 |
Year Ended 2/29/2020 | $22.34 | 12.84% | 0.92%(c) | 0.87%(c),(d) | 2.06% | 74% | $94,945 |
Year Ended 2/28/2019 | $21.14 | 7.99% | 0.95%(c) | 0.88%(c),(d) | 2.15% | 60% | $51,487 |
Class C | |||||||
Year Ended 2/28/2023 | $19.25 | (10.94%) | 1.89%(c) | 1.87%(c),(d) | 1.10% | 59% | $45,631 |
Year Ended 2/28/2022 | $23.60 | (9.76%) | 1.85%(c) | 1.85%(c),(d) | 0.09% | 92% | $77,910 |
Year Ended 2/28/2021 | $31.88 | 57.20% | 1.87%(c) | 1.87%(c),(d) | 0.59% | 98% | $100,101 |
Year Ended 2/29/2020 | $22.00 | 11.71% | 1.92%(c) | 1.87%(c),(d) | 1.06% | 74% | $62,313 |
Year Ended 2/28/2019 | $20.84 | 6.92% | 1.95%(c) | 1.88%(c),(d) | 1.14% | 60% | $44,035 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $19.41 | (10.04%) | 0.89%(c) | 0.87%(c),(d) | 2.09% | 59% | $642,404 |
Year Ended 2/28/2022 | $23.79 | (8.84%) | 0.85%(c) | 0.85%(c),(d) | 1.09% | 92% | $1,094,312 |
Year Ended 2/28/2021 | $32.08 | 58.81% | 0.88%(c) | 0.88%(c),(d) | 1.57% | 98% | $1,401,886 |
Year Ended 2/29/2020 | $22.13 | 12.81% | 0.92%(c) | 0.87%(c),(d) | 2.06% | 74% | $733,400 |
Year Ended 2/28/2019 | $20.96 | 8.00% | 0.95%(c) | 0.88%(c),(d) | 2.13% | 60% | $544,140 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $19.64 | (10.00%) | 0.85%(c) | 0.82%(c) | 2.22% | 59% | $159,146 |
Year Ended 2/28/2022 | $24.05 | (8.77%) | 0.80%(c) | 0.79%(c) | 1.14% | 92% | $180,150 |
Year Ended 2/28/2021 | $32.36 | 58.89% | 0.83%(c) | 0.81%(c) | 1.62% | 98% | $235,448 |
Year Ended 2/29/2020 | $22.31 | 12.88% | 0.87%(c) | 0.81%(c) | 2.13% | 74% | $92,233 |
Year Ended 2/28/2019 | $21.12 | 8.07% | 0.89%(c) | 0.81%(c) | 2.19% | 60% | $80,367 |
Columbia Convertible Securities Fund | Annual Report 2023 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $24.32 | 0.48 | (3.00) | (2.52) | (0.47) | (1.44) | (1.91) |
Year Ended 2/28/2022 | $32.66 | 0.35 | (2.92) | (2.57) | (0.32) | (5.45) | (5.77) |
Year Ended 2/28/2021 | $22.50 | 0.45 | 12.14 | 12.59 | (0.53) | (1.90) | (2.43) |
Year Ended 2/29/2020 | $21.28 | 0.48 | 2.21 | 2.69 | (0.57) | (0.90) | (1.47) |
Year Ended 2/28/2019 | $20.74 | 0.47 | 1.14 | 1.61 | (0.48) | (0.59) | (1.07) |
Class R | |||||||
Year Ended 2/28/2023 | $23.70 | 0.33 | (2.91) | (2.58) | (0.34) | (1.44) | (1.78) |
Year Ended 2/28/2022 | $31.98 | 0.16 | (2.85) | (2.69) | (0.14) | (5.45) | (5.59) |
Year Ended 2/28/2021 | $22.06 | 0.29 | 11.91 | 12.20 | (0.38) | (1.90) | (2.28) |
Year Ended 2/29/2020 | $20.90 | 0.34 | 2.16 | 2.50 | (0.44) | (0.90) | (1.34) |
Year Ended 2/28/2019 | $20.39 | 0.33 | 1.12 | 1.45 | (0.35) | (0.59) | (0.94) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interfund lending expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
22 | Columbia Convertible Securities Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $19.89 | (9.93%) | 0.80%(c) | 0.78%(c) | 2.36% | 59% | $116,903 |
Year Ended 2/28/2022 | $24.32 | (8.74%) | 0.75%(c) | 0.75%(c) | 1.18% | 92% | $101,658 |
Year Ended 2/28/2021 | $32.66 | 58.95% | 0.78%(c) | 0.77%(c) | 1.74% | 98% | $136,747 |
Year Ended 2/29/2020 | $22.50 | 12.97% | 0.82%(c) | 0.77%(c) | 2.17% | 74% | $128,319 |
Year Ended 2/28/2019 | $21.28 | 8.11% | 0.84%(c) | 0.76%(c) | 2.25% | 60% | $100,142 |
Class R | |||||||
Year Ended 2/28/2023 | $19.34 | (10.46%) | 1.39%(c) | 1.37%(c),(d) | 1.65% | 59% | $1,037 |
Year Ended 2/28/2022 | $23.70 | (9.32%) | 1.35%(c) | 1.35%(c),(d) | 0.57% | 92% | $1,277 |
Year Ended 2/28/2021 | $31.98 | 58.04% | 1.37%(c) | 1.37%(c),(d) | 1.13% | 98% | $2,138 |
Year Ended 2/29/2020 | $22.06 | 12.23% | 1.42%(c) | 1.37%(c),(d) | 1.56% | 74% | $1,900 |
Year Ended 2/28/2019 | $20.90 | 7.44% | 1.45%(c) | 1.38%(c),(d) | 1.63% | 60% | $2,337 |
Columbia Convertible Securities Fund | Annual Report 2023 | 23 |
February 28, 2023
24 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Columbia Convertible Securities Fund | Annual Report 2023 | 25 |
February 28, 2023
26 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Columbia Convertible Securities Fund | Annual Report 2023 | 27 |
February 28, 2023
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.10 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.01 |
Class R | 0.10 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 150,079 |
Class C | — | 1.00(b) | 5,004 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
28 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
July 1, 2022 through June 30, 2023 | Prior to July 1, 2022 | |
Class A | 1.12% | 1.12% |
Advisor Class | 0.87 | 0.87 |
Class C | 1.87 | 1.87 |
Institutional Class | 0.87 | 0.87 |
Institutional 2 Class | 0.82 | 0.81 |
Institutional 3 Class | 0.78 | 0.77 |
Class R | 1.37 | 1.37 |
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
2,870,779 | (2,870,779) | — |
Columbia Convertible Securities Fund | Annual Report 2023 | 29 |
February 28, 2023
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
33,923,770 | 110,939,132 | 144,862,902 | 92,206,745 | 395,681,950 | 487,888,695 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
8,502,318 | — | (52,864,954) | (134,049,130) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
1,494,968,162 | 62,400,159 | (196,449,289) | (134,049,130) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(52,864,954) | — | (52,864,954) | — |
30 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 1,000,000 | 3.26 | 3 |
Lender | 3,300,000 | 3.85 | 3 |
Columbia Convertible Securities Fund | Annual Report 2023 | 31 |
February 28, 2023
32 | Columbia Convertible Securities Fund | Annual Report 2023 |
February 28, 2023
Columbia Convertible Securities Fund | Annual Report 2023 | 33 |
34 | Columbia Convertible Securities Fund | Annual Report 2023 |
Qualified dividend income | Dividends received deduction | Section 199A dividends |
33.14% | 30.31% | 1.09% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
Columbia Convertible Securities Fund | Annual Report 2023 | 35 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
36 | Columbia Convertible Securities Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
Columbia Convertible Securities Fund | Annual Report 2023 | 37 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
38 | Columbia Convertible Securities Fund | Annual Report 2023 |
(Unaudited)
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Columbia Convertible Securities Fund | Annual Report 2023 | 39 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
40 | Columbia Convertible Securities Fund | Annual Report 2023 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgdc3440742.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgf6d6529c1.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgfa8cbb252.jpg)
3 | |
5 | |
7 | |
8 | |
12 | |
13 | |
14 | |
16 | |
20 | |
32 | |
33 | |
33 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img356298c23.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 08/02/99 | -9.89 | 8.91 | 11.68 |
Including sales charges | -15.08 | 7.64 | 11.02 | ||
Advisor Class* | 07/05/17 | -9.64 | 9.18 | 11.95 | |
Class C | Excluding sales charges | 08/02/99 | -10.54 | 8.11 | 10.85 |
Including sales charges | -11.38 | 8.11 | 10.85 | ||
Institutional Class | 10/02/98 | -9.65 | 9.18 | 11.96 | |
Institutional 2 Class | 11/08/12 | -9.64 | 9.28 | 12.05 | |
Institutional 3 Class* | 03/01/17 | -9.54 | 9.33 | 12.04 | |
S&P 500 Index | -7.69 | 9.82 | 12.25 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgd6ff97984.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 97.6 |
Money Market Funds | 2.4 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 9.0 |
Consumer Discretionary | 9.9 |
Consumer Staples | 8.2 |
Energy | 3.6 |
Financials | 9.6 |
Health Care | 15.0 |
Industrials | 10.5 |
Information Technology | 28.1 |
Real Estate | 2.6 |
Utilities | 3.5 |
Total | 100.0 |
4 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
(Unaudited)
• | Stock selection within the consumer discretionary sector detracted most from relative performance during the period. |
• | The information technology and consumer staples sectors were also areas of detraction for the Fund versus its benchmark, as allocations to and selections within both sectors weighed on relative results. |
• | Individual holdings that detracted most from Fund performance relative to its benchmark during the period included Google parent Alphabet, Inc., internet retail giant Amazon.com, Inc., software company Adobe, Inc., semiconductor company QUALCOMM, Inc. and beer, wine and spirits producer Constellation Brands, Inc. |
• | The Fund benefited from its stock selection within, and allocations to, the health care and industrials sectors. |
• | Stock selection within the energy sector also contributed to the Fund’s performance versus its benchmark during the period. |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 5 |
(Unaudited)
• | Individual holdings that contributed most to relative performance during the period included energy companies Valero Energy Corp. and ConocoPhillips Co., pharmaceutical companies Johnson & Johnson and Eli Lilly & Co., and specialty machinery company Parker-Hannifin Corp. The Fund sold its position in Valero Energy and Johnson & Johnson during the period. |
6 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,002.50 | 1,020.83 | 3.97 | 4.01 | 0.80 |
Advisor Class | 1,000.00 | 1,000.00 | 1,003.40 | 1,022.07 | 2.73 | 2.76 | 0.55 |
Class C | 1,000.00 | 1,000.00 | 999.30 | 1,017.11 | 7.68 | 7.75 | 1.55 |
Institutional Class | 1,000.00 | 1,000.00 | 1,003.30 | 1,022.07 | 2.73 | 2.76 | 0.55 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,003.80 | 1,022.36 | 2.43 | 2.46 | 0.49 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,004.50 | 1,022.61 | 2.19 | 2.21 | 0.44 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 97.5% | ||
Issuer | Shares | Value ($) |
Communication Services 8.8% | ||
Diversified Telecommunication Services 1.6% | ||
AT&T, Inc. | 1,011,927 | 19,135,539 |
Entertainment 1.2% | ||
Electronic Arts, Inc. | 134,807 | 14,955,489 |
Interactive Media & Services 4.2% | ||
Alphabet, Inc., Class C(a) | 559,449 | 50,518,245 |
Media 1.8% | ||
Comcast Corp., Class A | 578,563 | 21,505,187 |
Total Communication Services | 106,114,460 | |
Consumer Discretionary 9.6% | ||
Automobiles 1.0% | ||
Tesla, Inc.(a) | 56,186 | 11,558,022 |
Hotels, Restaurants & Leisure 2.9% | ||
Hilton Worldwide Holdings, Inc. | 128,467 | 18,564,766 |
Las Vegas Sands Corp.(a) | 287,618 | 16,529,407 |
Total | 35,094,173 | |
Internet & Direct Marketing Retail 3.8% | ||
Amazon.com, Inc.(a) | 494,892 | 46,633,673 |
Specialty Retail 1.9% | ||
Home Depot, Inc. (The) | 77,515 | 22,986,298 |
Total Consumer Discretionary | 116,272,166 | |
Consumer Staples 8.0% | ||
Beverages 1.8% | ||
Coca-Cola Co. (The) | 364,834 | 21,711,271 |
Food & Staples Retailing 2.1% | ||
Walmart, Inc. | 176,211 | 25,044,870 |
Food Products 1.6% | ||
Hershey Co. (The) | 83,935 | 20,003,389 |
Household Products 2.5% | ||
Procter & Gamble Co. (The) | 220,079 | 30,274,067 |
Total Consumer Staples | 97,033,597 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Energy 3.5% | ||
Oil, Gas & Consumable Fuels 3.5% | ||
EOG Resources, Inc. | 122,355 | 13,828,562 |
Exxon Mobil Corp. | 258,007 | 28,357,549 |
Total | 42,186,111 | |
Total Energy | 42,186,111 | |
Financials 9.3% | ||
Banks 2.8% | ||
Bank of America Corp. | 775,767 | 26,608,808 |
Popular, Inc. | 109,713 | 7,833,508 |
Total | 34,442,316 | |
Capital Markets 3.3% | ||
Morgan Stanley | 240,189 | 23,178,239 |
S&P Global, Inc. | 48,210 | 16,449,252 |
Total | 39,627,491 | |
Consumer Finance 1.5% | ||
Discover Financial Services | 162,898 | 18,244,576 |
Insurance 1.7% | ||
MetLife, Inc. | 289,073 | 20,735,206 |
Total Financials | 113,049,589 | |
Health Care 14.7% | ||
Biotechnology 3.7% | ||
AbbVie, Inc. | 164,002 | 25,239,908 |
BioMarin Pharmaceutical, Inc.(a) | 92,957 | 9,257,588 |
Vertex Pharmaceuticals, Inc.(a) | 36,487 | 10,591,811 |
Total | 45,089,307 | |
Health Care Equipment & Supplies 2.9% | ||
Boston Scientific Corp.(a) | 385,115 | 17,992,573 |
Intuitive Surgical, Inc.(a) | 71,768 | 16,462,861 |
Total | 34,455,434 | |
Health Care Providers & Services 2.6% | ||
Cigna Corp. (The) | 51,260 | 14,973,046 |
Elevance Health, Inc. | 35,426 | 16,638,529 |
Total | 31,611,575 |
8 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pharmaceuticals 5.5% | ||
Eli Lilly & Co. | 66,066 | 20,561,061 |
Merck & Co., Inc. | 229,550 | 24,387,392 |
Zoetis, Inc. | 127,678 | 21,322,226 |
Total | 66,270,679 | |
Total Health Care | 177,426,995 | |
Industrials 10.3% | ||
Aerospace & Defense 1.6% | ||
Raytheon Technologies Corp. | 195,453 | 19,171,985 |
Building Products 1.5% | ||
Trane Technologies PLC | 94,918 | 17,556,982 |
Commercial Services & Supplies 2.7% | ||
Cintas Corp. | 39,056 | 17,124,885 |
Republic Services, Inc. | 124,097 | 15,999,826 |
Total | 33,124,711 | |
Construction & Engineering 1.3% | ||
MasTec, Inc.(a) | 163,463 | 15,973,604 |
Machinery 1.6% | ||
Parker-Hannifin Corp. | 53,437 | 18,801,808 |
Road & Rail 1.6% | ||
Union Pacific Corp. | 94,403 | 19,567,854 |
Total Industrials | 124,196,944 | |
Information Technology 27.4% | ||
Communications Equipment 1.9% | ||
Cisco Systems, Inc. | 469,589 | 22,737,499 |
Electronic Equipment, Instruments & Components 1.3% | ||
TE Connectivity Ltd. | 128,582 | 16,371,060 |
IT Services 2.2% | ||
MasterCard, Inc., Class A | 74,204 | 26,363,939 |
Semiconductors & Semiconductor Equipment 6.7% | ||
Broadcom, Inc. | 35,489 | 21,090,758 |
Lam Research Corp. | 31,043 | 15,087,208 |
NVIDIA Corp. | 116,366 | 27,015,531 |
QUALCOMM, Inc. | 146,478 | 18,094,427 |
Total | 81,287,924 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Software 9.7% | ||
Adobe, Inc.(a) | 60,908 | 19,731,147 |
Microsoft Corp. | 327,985 | 81,806,019 |
Palo Alto Networks, Inc.(a) | 88,068 | 16,589,369 |
Total | 118,126,535 | |
Technology Hardware, Storage & Peripherals 5.6% | ||
Apple, Inc. | 457,124 | 67,384,649 |
Total Information Technology | 332,271,606 | |
Real Estate 2.5% | ||
Equity Real Estate Investment Trusts (REITS) 2.5% | ||
American Homes 4 Rent, Class A | 424,102 | 13,155,645 |
Prologis, Inc. | 143,901 | 17,757,383 |
Total | 30,913,028 | |
Total Real Estate | 30,913,028 | |
Utilities 3.4% | ||
Electric Utilities 1.7% | ||
American Electric Power Co., Inc. | 239,884 | 21,102,596 |
Multi-Utilities 1.7% | ||
Ameren Corp. | 244,324 | 20,208,038 |
Total Utilities | 41,310,634 | |
Total Common Stocks (Cost $917,856,132) | 1,180,775,130 | |
Money Market Funds 2.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(b),(c) | 28,839,564 | 28,828,028 |
Total Money Market Funds (Cost $28,826,790) | 28,828,028 | |
Total Investments in Securities (Cost: $946,682,922) | 1,209,603,158 | |
Other Assets & Liabilities, Net | 1,049,392 | |
Net Assets | 1,210,652,550 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 9 |
February 28, 2023
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
13,299,610 | 292,811,963 | (277,283,619) | 74 | 28,828,028 | 2,758 | 440,715 | 28,839,564 |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 106,114,460 | — | — | 106,114,460 |
Consumer Discretionary | 116,272,166 | — | — | 116,272,166 |
Consumer Staples | 97,033,597 | — | — | 97,033,597 |
Energy | 42,186,111 | — | — | 42,186,111 |
Financials | 113,049,589 | — | — | 113,049,589 |
Health Care | 177,426,995 | — | — | 177,426,995 |
Industrials | 124,196,944 | — | — | 124,196,944 |
10 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Information Technology | 332,271,606 | — | — | 332,271,606 |
Real Estate | 30,913,028 | — | — | 30,913,028 |
Utilities | 41,310,634 | — | — | 41,310,634 |
Total Common Stocks | 1,180,775,130 | — | — | 1,180,775,130 |
Money Market Funds | 28,828,028 | — | — | 28,828,028 |
Total Investments in Securities | 1,209,603,158 | — | — | 1,209,603,158 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 11 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $917,856,132) | $1,180,775,130 |
Affiliated issuers (cost $28,826,790) | 28,828,028 |
Receivable for: | |
Investments sold | 3,839,638 |
Capital shares sold | 228,139 |
Dividends | 1,688,657 |
Expense reimbursement due from Investment Manager | 10,885 |
Prepaid expenses | 11,392 |
Total assets | 1,215,381,869 |
Liabilities | |
Payable for: | |
Investments purchased | 3,584,873 |
Capital shares purchased | 856,807 |
Management services fees | 24,336 |
Distribution and/or service fees | 1,569 |
Transfer agent fees | 65,959 |
Compensation of board members | 158,509 |
Compensation of chief compliance officer | 231 |
Other expenses | 37,035 |
Total liabilities | 4,729,319 |
Net assets applicable to outstanding capital stock | $1,210,652,550 |
Represented by | |
Paid in capital | 934,517,613 |
Total distributable earnings (loss) | 276,134,937 |
Total - representing net assets applicable to outstanding capital stock | $1,210,652,550 |
Class A | |
Net assets | $194,560,212 |
Shares outstanding | 12,167,091 |
Net asset value per share | $15.99 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $16.97 |
Advisor Class | |
Net assets | $1,992,672 |
Shares outstanding | 126,568 |
Net asset value per share | $15.74 |
Class C | |
Net assets | $8,243,268 |
Shares outstanding | 581,861 |
Net asset value per share | $14.17 |
Institutional Class | |
Net assets | $261,568,358 |
Shares outstanding | 16,518,686 |
Net asset value per share | $15.83 |
Institutional 2 Class | |
Net assets | $184,916,752 |
Shares outstanding | 11,224,295 |
Net asset value per share | $16.47 |
Institutional 3 Class | |
Net assets | $559,371,288 |
Shares outstanding | 36,016,990 |
Net asset value per share | $15.53 |
12 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $19,700,877 |
Dividends — affiliated issuers | 440,715 |
Interfund lending | 2,080 |
Foreign taxes withheld | (25,392) |
Total income | 20,118,280 |
Expenses: | |
Management services fees | 9,158,688 |
Distribution and/or service fees | |
Class A | 520,177 |
Class C | 79,101 |
Transfer agent fees | |
Class A | 254,232 |
Advisor Class | 2,194 |
Class C | 9,676 |
Institutional Class | 324,129 |
Institutional 2 Class | 96,526 |
Institutional 3 Class | 36,375 |
Compensation of board members | 25,801 |
Custodian fees | 11,866 |
Printing and postage fees | 45,958 |
Registration fees | 115,746 |
Audit fees | 30,090 |
Legal fees | 30,200 |
Interest on collateral | 208 |
Compensation of chief compliance officer | 226 |
Other | 28,104 |
Total expenses | 10,769,297 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (4,106,053) |
Expense reduction | (660) |
Total net expenses | 6,662,584 |
Net investment income | 13,455,696 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 9,034,180 |
Investments — affiliated issuers | 2,758 |
Foreign currency translations | (21) |
Futures contracts | 2,410,564 |
Net realized gain | 11,447,481 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (157,818,205) |
Investments — affiliated issuers | 74 |
Futures contracts | 177,632 |
Net change in unrealized appreciation (depreciation) | (157,640,499) |
Net realized and unrealized loss | (146,193,018) |
Net decrease in net assets resulting from operations | $(132,737,322) |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 13 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $13,455,696 | $11,293,219 |
Net realized gain | 11,447,481 | 116,395,404 |
Net change in unrealized appreciation (depreciation) | (157,640,499) | 84,398,691 |
Net increase (decrease) in net assets resulting from operations | (132,737,322) | 212,087,314 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (11,332,906) | (17,789,878) |
Advisor Class | (99,137) | (174,654) |
Class C | (415,101) | (637,088) |
Institutional Class | (16,249,703) | (16,826,301) |
Institutional 2 Class | (8,352,037) | (12,046,628) |
Institutional 3 Class | (36,039,168) | (57,623,422) |
Total distributions to shareholders | (72,488,052) | (105,097,971) |
Increase in net assets from capital stock activity | 56,328,588 | 31,469,851 |
Total increase (decrease) in net assets | (148,896,786) | 138,459,194 |
Net assets at beginning of year | 1,359,549,336 | 1,221,090,142 |
Net assets at end of year | $1,210,652,550 | $1,359,549,336 |
14 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,176,069 | 18,920,889 | 1,275,138 | 24,825,167 |
Distributions reinvested | 286,032 | 4,384,599 | 338,444 | 6,673,124 |
Redemptions | (1,804,460) | (29,231,259) | (1,605,606) | (31,071,032) |
Net increase (decrease) | (342,359) | (5,925,771) | 7,976 | 427,259 |
Advisor Class | ||||
Subscriptions | 31,009 | 495,131 | 57,976 | 1,077,177 |
Distributions reinvested | 6,544 | 98,961 | 8,984 | 174,378 |
Redemptions | (15,233) | (245,875) | (61,135) | (1,178,243) |
Net increase | 22,320 | 348,217 | 5,825 | 73,312 |
Class C | ||||
Subscriptions | 174,132 | 2,526,136 | 105,380 | 1,870,662 |
Distributions reinvested | 28,435 | 384,726 | 31,956 | 563,770 |
Redemptions | (141,568) | (2,071,613) | (110,967) | (1,935,215) |
Net increase | 60,999 | 839,249 | 26,369 | 499,217 |
Institutional Class | ||||
Subscriptions | 7,626,813 | 129,983,432 | 2,429,962 | 46,730,851 |
Distributions reinvested | 1,023,923 | 15,563,977 | 807,948 | 15,787,253 |
Redemptions | (3,621,225) | (58,356,394) | (1,642,468) | (31,747,662) |
Net increase | 5,029,511 | 87,191,015 | 1,595,442 | 30,770,442 |
Institutional 2 Class | ||||
Subscriptions | 4,380,984 | 71,503,980 | 5,530,357 | 109,586,321 |
Distributions reinvested | 527,455 | 8,351,999 | 592,170 | 12,046,628 |
Redemptions | (3,968,403) | (66,165,196) | (1,597,524) | (32,564,052) |
Net increase | 940,036 | 13,690,783 | 4,525,003 | 89,068,897 |
Institutional 3 Class | ||||
Subscriptions | 580,650 | 9,118,713 | 2,765,887 | 53,592,290 |
Distributions reinvested | 2,249,128 | 33,564,474 | 2,732,037 | 52,418,462 |
Redemptions | (5,089,097) | (82,498,092) | (10,204,800) | (195,380,028) |
Net decrease | (2,259,319) | (39,814,905) | (4,706,876) | (89,369,276) |
Total net increase | 3,451,188 | 56,328,588 | 1,453,739 | 31,469,851 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 15 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $18.81 | 0.13 | (2.03) | (1.90) | (0.12) | (0.80) | (0.92) |
Year Ended 2/28/2022 | $17.28 | 0.11 | 2.88 | 2.99 | (0.15) | (1.31) | (1.46) |
Year Ended 2/28/2021 | $14.22 | 0.14 | 4.08 | 4.22 | (0.21) | (0.95) | (1.16) |
Year Ended 2/29/2020 | $13.95 | 0.24 | 0.77 | 1.01 | (0.12) | (0.62) | (0.74) |
Year Ended 2/28/2019 | $14.82 | 0.16 | 0.33 | 0.49 | (0.14) | (1.22) | (1.36) |
Advisor Class | |||||||
Year Ended 2/28/2023 | $18.53 | 0.17 | (2.00) | (1.83) | (0.16) | (0.80) | (0.96) |
Year Ended 2/28/2022 | $17.04 | 0.15 | 2.84 | 2.99 | (0.19) | (1.31) | (1.50) |
Year Ended 2/28/2021 | $14.04 | 0.18 | 4.02 | 4.20 | (0.25) | (0.95) | (1.20) |
Year Ended 2/29/2020 | $13.78 | 0.26 | 0.78 | 1.04 | (0.16) | (0.62) | (0.78) |
Year Ended 2/28/2019 | $14.66 | 0.20 | 0.33 | 0.53 | (0.19) | (1.22) | (1.41) |
Class C | |||||||
Year Ended 2/28/2023 | $16.78 | 0.01 | (1.82) | (1.81) | (0.00)(e) | (0.80) | (0.80) |
Year Ended 2/28/2022 | $15.58 | (0.04) | 2.60 | 2.56 | (0.05) | (1.31) | (1.36) |
Year Ended 2/28/2021 | $12.92 | 0.03 | 3.69 | 3.72 | (0.11) | (0.95) | (1.06) |
Year Ended 2/29/2020 | $12.74 | 0.11 | 0.71 | 0.82 | (0.02) | (0.62) | (0.64) |
Year Ended 2/28/2019 | $13.64 | 0.05 | 0.31 | 0.36 | (0.04) | (1.22) | (1.26) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $18.63 | 0.17 | (2.01) | (1.84) | (0.16) | (0.80) | (0.96) |
Year Ended 2/28/2022 | $17.13 | 0.15 | 2.85 | 3.00 | (0.19) | (1.31) | (1.50) |
Year Ended 2/28/2021 | $14.10 | 0.18 | 4.05 | 4.23 | (0.25) | (0.95) | (1.20) |
Year Ended 2/29/2020 | $13.84 | 0.26 | 0.78 | 1.04 | (0.16) | (0.62) | (0.78) |
Year Ended 2/28/2019 | $14.71 | 0.19 | 0.34 | 0.53 | (0.18) | (1.22) | (1.40) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $19.35 | 0.19 | (2.10) | (1.91) | (0.17) | (0.80) | (0.97) |
Year Ended 2/28/2022 | $17.73 | 0.17 | 2.97 | 3.14 | (0.21) | (1.31) | (1.52) |
Year Ended 2/28/2021 | $14.55 | 0.21 | 4.18 | 4.39 | (0.26) | (0.95) | (1.21) |
Year Ended 2/29/2020 | $14.26 | 0.29 | 0.79 | 1.08 | (0.17) | (0.62) | (0.79) |
Year Ended 2/28/2019 | $15.11 | 0.22 | 0.34 | 0.56 | (0.19) | (1.22) | (1.41) |
16 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $15.99 | (9.89%) | 1.12%(c) | 0.80%(c),(d) | 0.81% | 55% | $194,560 |
Year Ended 2/28/2022 | $18.81 | 17.04% | 1.12%(c) | 0.79%(c),(d) | 0.54% | 58% | $235,276 |
Year Ended 2/28/2021 | $17.28 | 30.70% | 1.16%(c) | 0.79%(c),(d) | 0.92% | 64% | $216,047 |
Year Ended 2/29/2020 | $14.22 | 7.30% | 1.18% | 0.80%(d) | 1.63% | 46% | $155,699 |
Year Ended 2/28/2019 | $13.95 | 3.61% | 1.19% | 0.80%(d) | 1.10% | 62% | $151,703 |
Advisor Class | |||||||
Year Ended 2/28/2023 | $15.74 | (9.64%) | 0.88%(c) | 0.55%(c),(d) | 1.06% | 55% | $1,993 |
Year Ended 2/28/2022 | $18.53 | 17.31% | 0.87%(c) | 0.54%(c),(d) | 0.79% | 58% | $1,932 |
Year Ended 2/28/2021 | $17.04 | 30.96% | 0.91%(c) | 0.54%(c),(d) | 1.18% | 64% | $1,678 |
Year Ended 2/29/2020 | $14.04 | 7.58% | 0.93% | 0.55%(d) | 1.81% | 46% | $3,294 |
Year Ended 2/28/2019 | $13.78 | 3.88% | 0.94% | 0.55%(d) | 1.45% | 62% | $3,143 |
Class C | |||||||
Year Ended 2/28/2023 | $14.17 | (10.54%) | 1.88%(c) | 1.55%(c),(d) | 0.06% | 55% | $8,243 |
Year Ended 2/28/2022 | $16.78 | 16.13% | 1.87%(c) | 1.54%(c),(d) | (0.21%) | 58% | $8,739 |
Year Ended 2/28/2021 | $15.58 | 29.82% | 1.91%(c) | 1.54%(c),(d) | 0.18% | 64% | $7,703 |
Year Ended 2/29/2020 | $12.92 | 6.45% | 1.93% | 1.55%(d) | 0.83% | 46% | $6,040 |
Year Ended 2/28/2019 | $12.74 | 2.85% | 1.94% | 1.55%(d) | 0.34% | 62% | $7,783 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $15.83 | (9.65%) | 0.88%(c) | 0.55%(c),(d) | 1.07% | 55% | $261,568 |
Year Ended 2/28/2022 | $18.63 | 17.28% | 0.87%(c) | 0.54%(c),(d) | 0.79% | 58% | $214,100 |
Year Ended 2/28/2021 | $17.13 | 31.04% | 0.91%(c) | 0.54%(c),(d) | 1.18% | 64% | $169,476 |
Year Ended 2/29/2020 | $14.10 | 7.54% | 0.93% | 0.55%(d) | 1.76% | 46% | $125,623 |
Year Ended 2/28/2019 | $13.84 | 3.90% | 0.94% | 0.55%(d) | 1.34% | 62% | $158,057 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $16.47 | (9.64%) | 0.81%(c) | 0.48%(c) | 1.12% | 55% | $184,917 |
Year Ended 2/28/2022 | $19.35 | 17.45% | 0.80%(c) | 0.47%(c) | 0.85% | 58% | $198,955 |
Year Ended 2/28/2021 | $17.73 | 31.20% | 0.83%(c) | 0.46%(c) | 1.26% | 64% | $102,131 |
Year Ended 2/29/2020 | $14.55 | 7.61% | 0.85% | 0.46% | 1.97% | 46% | $22,676 |
Year Ended 2/28/2019 | $14.26 | 4.01% | 0.84% | 0.46% | 1.53% | 62% | $19,466 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 17 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $18.30 | 0.19 | (1.98) | (1.79) | (0.18) | (0.80) | (0.98) |
Year Ended 2/28/2022 | $16.85 | 0.17 | 2.81 | 2.98 | (0.22) | (1.31) | (1.53) |
Year Ended 2/28/2021 | $13.88 | 0.20 | 3.98 | 4.18 | (0.26) | (0.95) | (1.21) |
Year Ended 2/29/2020 | $13.63 | 0.29 | 0.76 | 1.05 | (0.18) | (0.62) | (0.80) |
Year Ended 2/28/2019 | $14.51 | 0.21 | 0.33 | 0.54 | (0.20) | (1.22) | (1.42) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Rounds to zero. |
18 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $15.53 | (9.54%) | 0.76%(c) | 0.43%(c) | 1.17% | 55% | $559,371 |
Year Ended 2/28/2022 | $18.30 | 17.40% | 0.75%(c) | 0.42%(c) | 0.92% | 58% | $700,548 |
Year Ended 2/28/2021 | $16.85 | 31.26% | 0.78%(c) | 0.41%(c) | 1.29% | 64% | $724,055 |
Year Ended 2/29/2020 | $13.88 | 7.72% | 0.80% | 0.42% | 2.04% | 46% | $364,432 |
Year Ended 2/28/2019 | $13.63 | 4.02% | 0.80% | 0.43% | 1.48% | 62% | $340,760 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 19 |
February 28, 2023
20 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 21 |
February 28, 2023
22 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 2,410,564 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 177,632 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 3,838,097 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2023. |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 23 |
February 28, 2023
24 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 25 |
February 28, 2023
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 61,007 |
Class C | — | 1.00(b) | 574 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
26 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
July 1, 2022 through June 30, 2023 | Prior to July 1, 2022 | |
Class A | 0.80% | 0.80% |
Advisor Class | 0.55 | 0.55 |
Class C | 1.55 | 1.55 |
Institutional Class | 0.55 | 0.55 |
Institutional 2 Class | 0.49 | 0.48 |
Institutional 3 Class | 0.44 | 0.43 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(49,285) | 49,286 | (1) |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 27 |
February 28, 2023
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
26,106,407 | 46,381,645 | 72,488,052 | 54,145,783 | 50,952,188 | 105,097,971 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
3,659,661 | 15,809,673 | — | 256,822,342 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
952,780,816 | 289,245,122 | (32,422,780) | 256,822,342 |
28 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 12,850,000 | 1.91 | 4 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 29 |
February 28, 2023
30 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
February 28, 2023
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 31 |
32 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
58.84% | 57.20% | 1.22% | $16,788,839 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 33 |
(Unaudited)
Independent trustees
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
34 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 35 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
36 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 37 |
(Unaudited)
The Statement of Additional Information has additional information about the Fund’s Board members and is available, without charge, upon request by calling 800.345.6611, visiting columbiathreadneedleus.com/investor/ or contacting your financial intermediary.
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
38 | Columbia Select Large Cap Equity Fund | Annual Report 2023 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
Columbia Select Large Cap Equity Fund | Annual Report 2023 | 39 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgfa8cbb252.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img8b98725a1.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img42844f2c2.jpg)
3 | |
5 | |
7 | |
8 | |
19 | |
20 | |
21 | |
22 | |
24 | |
35 | |
36 | |
36 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img92e1355b3.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 10/10/95 | -8.02 | 9.34 | 11.76 | |
Institutional Class | 12/15/93 | -7.80 | 9.61 | 12.03 | |
Institutional 2 Class | 11/08/12 | -7.79 | 9.61 | 12.04 | |
Institutional 3 Class* | 03/01/17 | -7.81 | 9.62 | 12.04 | |
S&P 500 Index | -7.69 | 9.82 | 12.25 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Large Cap Index Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgc263dbb64.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 99.0 |
Money Market Funds | 1.0 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 7.7 |
Consumer Discretionary | 10.7 |
Consumer Staples | 6.7 |
Energy | 4.8 |
Financials | 11.7 |
Health Care | 14.3 |
Industrials | 8.5 |
Information Technology | 27.3 |
Materials | 2.8 |
Real Estate | 2.7 |
Utilities | 2.8 |
Total | 100.0 |
4 | Columbia Large Cap Index Fund | Annual Report 2023 |
(Unaudited)
• | Communication services, consumer discretionary and real estate were the weakest sectors in the Index during the annual period as measured by total return. |
• | On the basis of impact, information technology, communication services and consumer discretionary were the weakest sectors. |
• | The worst performing industries for the annual period on the basis of total return were leisure products; Internet and direct marketing retail; interactive media and services; automobiles; and entertainment. |
• | Top individual detractors were e-commerce retailing behemoth Amazon.com, Inc.; information technology giants Microsoft Corp., Apple Inc. and Alphabet Inc.; and electric vehicle maker Tesla, Inc. |
• | In terms of total return, energy was by far the best relative performer, followed at some distance by industrials and materials. |
• | On the basis of impact, which takes weighting and total returns into account, energy, industrials and health care were the biggest contributors to the Index’s return. |
Columbia Large Cap Index Fund | Annual Report 2023 | 5 |
(Unaudited)
• | The top performing industries for the annual period on the basis of total return were construction and engineering; trading companies and distributors; oil, gas and consumable fuels; energy equipment and services; and independent power and renewable electricity producers. |
• | Top individual contributors within the Index during the annual period included integrated energy companies Exxon Mobil Corp. and Chevron Corp.; pharmaceutical companies Merck & Co., Inc. and Eli Lilly and Company; and diversified financial institution JPMorgan Chase & Co. |
6 | Columbia Large Cap Index Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,011.20 | 1,022.56 | 2.24 | 2.26 | 0.45 |
Institutional Class | 1,000.00 | 1,000.00 | 1,012.50 | 1,023.80 | 1.00 | 1.00 | 0.20 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,012.40 | 1,023.80 | 1.00 | 1.00 | 0.20 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,012.30 | 1,023.80 | 1.00 | 1.00 | 0.20 |
Columbia Large Cap Index Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 98.8% | ||
Issuer | Shares | Value ($) |
Communication Services 7.6% | ||
Diversified Telecommunication Services 0.9% | ||
AT&T, Inc. | 596,984 | 11,288,968 |
Lumen Technologies, Inc. | 79,728 | 271,075 |
Verizon Communications, Inc. | 351,793 | 13,653,086 |
Total | 25,213,129 | |
Entertainment 1.4% | ||
Activision Blizzard, Inc. | 59,656 | 4,548,770 |
Electronic Arts, Inc. | 21,969 | 2,437,241 |
Live Nation Entertainment, Inc.(a) | 11,965 | 862,198 |
Netflix, Inc.(a) | 37,277 | 12,008,040 |
Take-Two Interactive Software, Inc.(a) | 13,214 | 1,447,594 |
Walt Disney Co. (The)(a) | 152,706 | 15,211,045 |
Warner Bros Discovery, Inc.(a) | 185,104 | 2,891,324 |
Total | 39,406,212 | |
Interactive Media & Services 4.2% | ||
Alphabet, Inc., Class A(a) | 500,321 | 45,058,909 |
Alphabet, Inc., Class C(a) | 443,514 | 40,049,314 |
Match Group, Inc.(a) | 23,396 | 969,062 |
Meta Platforms, Inc., Class A(a) | 188,357 | 32,951,174 |
Total | 119,028,459 | |
Media 0.8% | ||
Charter Communications, Inc., Class A(a) | 8,997 | 3,307,387 |
Comcast Corp., Class A | 361,354 | 13,431,528 |
DISH Network Corp., Class A(a) | 21,054 | 240,226 |
Fox Corp., Class A | 25,336 | 887,267 |
Fox Corp., Class B | 11,671 | 376,390 |
Interpublic Group of Companies, Inc. (The) | 32,544 | 1,156,614 |
News Corp., Class A | 32,027 | 549,263 |
News Corp., Class B | 9,876 | 170,460 |
Omnicom Group, Inc. | 17,081 | 1,547,026 |
Paramount Global, Class B | 42,303 | 906,130 |
Total | 22,572,291 | |
Wireless Telecommunication Services 0.3% | ||
T-Mobile US, Inc.(a) | 50,023 | 7,112,270 |
Total Communication Services | 213,332,361 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Consumer Discretionary 10.5% | ||
Auto Components 0.1% | ||
Aptiv PLC(a) | 22,696 | 2,639,091 |
BorgWarner, Inc. | 19,614 | 986,192 |
Total | 3,625,283 | |
Automobiles 2.0% | ||
Ford Motor Co. | 330,837 | 3,993,203 |
General Motors Co. | 119,003 | 4,610,176 |
Tesla, Inc.(a) | 224,829 | 46,249,573 |
Total | 54,852,952 | |
Distributors 0.2% | ||
Genuine Parts Co. | 11,807 | 2,088,186 |
LKQ Corp. | 21,260 | 1,217,985 |
Pool Corp. | 3,271 | 1,167,289 |
Total | 4,473,460 | |
Hotels, Restaurants & Leisure 2.1% | ||
Booking Holdings, Inc.(a) | 3,249 | 8,200,476 |
Caesars Entertainment, Inc.(a) | 17,973 | 912,309 |
Carnival Corp.(a) | 83,884 | 890,848 |
Chipotle Mexican Grill, Inc.(a) | 2,322 | 3,462,288 |
Darden Restaurants, Inc. | 10,252 | 1,465,934 |
Domino’s Pizza, Inc. | 2,965 | 871,740 |
Expedia Group, Inc.(a) | 12,612 | 1,374,330 |
Hilton Worldwide Holdings, Inc. | 22,654 | 3,273,730 |
Las Vegas Sands Corp.(a) | 27,524 | 1,581,804 |
Marriott International, Inc., Class A | 22,537 | 3,814,162 |
McDonald’s Corp. | 61,351 | 16,191,142 |
MGM Resorts International | 26,699 | 1,148,324 |
Norwegian Cruise Line Holdings Ltd.(a) | 35,298 | 523,116 |
Royal Caribbean Cruises Ltd.(a) | 18,382 | 1,298,504 |
Starbucks Corp. | 96,152 | 9,816,158 |
Wynn Resorts Ltd.(a) | 8,637 | 935,992 |
Yum! Brands, Inc. | 23,595 | 3,000,340 |
Total | 58,761,197 |
8 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Household Durables 0.3% | ||
D.R. Horton, Inc. | 26,218 | 2,424,641 |
Garmin Ltd. | 12,844 | 1,260,382 |
Lennar Corp., Class A | 21,340 | 2,064,431 |
Mohawk Industries, Inc.(a) | 4,417 | 454,288 |
Newell Brands, Inc. | 31,527 | 463,132 |
NVR, Inc.(a) | 252 | 1,303,752 |
PulteGroup, Inc. | 19,083 | 1,043,268 |
Whirlpool Corp. | 4,563 | 629,603 |
Total | 9,643,497 | |
Internet & Direct Marketing Retail 2.6% | ||
Amazon.com, Inc.(a) | 743,440 | 70,054,351 |
eBay, Inc. | 45,455 | 2,086,385 |
Etsy, Inc.(a) | 10,528 | 1,278,204 |
Total | 73,418,940 | |
Leisure Products 0.0% | ||
Hasbro, Inc. | 10,875 | 598,234 |
Multiline Retail 0.5% | ||
Dollar General Corp. | 18,895 | 4,086,989 |
Dollar Tree, Inc.(a) | 17,632 | 2,561,577 |
Target Corp. | 38,553 | 6,496,180 |
Total | 13,144,746 | |
Specialty Retail 2.2% | ||
Advance Auto Parts, Inc. | 5,036 | 730,019 |
AutoZone, Inc.(a) | 1,590 | 3,953,599 |
Bath & Body Works, Inc. | 19,129 | 781,802 |
Best Buy Co., Inc. | 16,783 | 1,394,835 |
CarMax, Inc.(a) | 13,236 | 913,813 |
Home Depot, Inc. (The) | 85,751 | 25,428,602 |
Lowe’s Companies, Inc. | 51,992 | 10,697,354 |
O’Reilly Automotive, Inc.(a) | 5,242 | 4,351,384 |
Ross Stores, Inc. | 29,071 | 3,213,508 |
TJX Companies, Inc. (The) | 97,254 | 7,449,656 |
Tractor Supply Co. | 9,253 | 2,158,355 |
Ulta Beauty, Inc.(a) | 4,290 | 2,225,652 |
Total | 63,298,579 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Textiles, Apparel & Luxury Goods 0.5% | ||
NIKE, Inc., Class B | 105,516 | 12,534,245 |
Ralph Lauren Corp. | 3,442 | 406,810 |
Tapestry, Inc. | 20,184 | 878,206 |
VF Corp. | 27,666 | 686,670 |
Total | 14,505,931 | |
Total Consumer Discretionary | 296,322,819 | |
Consumer Staples 6.6% | ||
Beverages 1.8% | ||
Brown-Forman Corp., Class B | 15,316 | 993,549 |
Coca-Cola Co. (The) | 326,014 | 19,401,093 |
Constellation Brands, Inc., Class A | 13,597 | 3,041,649 |
Keurig Dr. Pepper, Inc. | 71,178 | 2,459,200 |
Molson Coors Beverage Co., Class B | 15,747 | 837,583 |
Monster Beverage Corp.(a) | 31,903 | 3,246,449 |
PepsiCo, Inc. | 115,402 | 20,025,709 |
Total | 50,005,232 | |
Food & Staples Retailing 1.5% | ||
Costco Wholesale Corp. | 37,074 | 17,950,489 |
Kroger Co. (The) | 54,562 | 2,353,805 |
Sysco Corp. | 42,449 | 3,165,422 |
Walgreens Boots Alliance, Inc. | 60,125 | 2,136,241 |
Walmart, Inc. | 118,224 | 16,803,177 |
Total | 42,409,134 | |
Food Products 1.1% | ||
Archer-Daniels-Midland Co. | 46,014 | 3,662,714 |
Campbell Soup Co. | 16,823 | 883,544 |
ConAgra Foods, Inc. | 40,144 | 1,461,643 |
General Mills, Inc. | 49,717 | 3,952,999 |
Hershey Co. (The) | 12,311 | 2,933,958 |
Hormel Foods Corp. | 24,248 | 1,076,126 |
JM Smucker Co. (The) | 8,926 | 1,320,066 |
Kellogg Co. | 21,440 | 1,413,754 |
Kraft Heinz Co. (The) | 66,693 | 2,597,025 |
Lamb Weston Holdings, Inc. | 12,048 | 1,212,511 |
McCormick & Co., Inc. | 20,991 | 1,560,051 |
Columbia Large Cap Index Fund | Annual Report 2023 | 9 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Mondelez International, Inc., Class A | 114,390 | 7,455,940 |
Tyson Foods, Inc., Class A | 24,259 | 1,437,103 |
Total | 30,967,434 | |
Household Products 1.4% | ||
Church & Dwight Co., Inc. | 20,427 | 1,711,374 |
Clorox Co. (The) | 10,335 | 1,606,472 |
Colgate-Palmolive Co. | 69,961 | 5,128,141 |
Kimberly-Clark Corp. | 28,269 | 3,535,039 |
Procter & Gamble Co. (The) | 198,495 | 27,304,972 |
Total | 39,285,998 | |
Personal Products 0.1% | ||
Estee Lauder Companies, Inc. (The), Class A | 19,372 | 4,708,365 |
Tobacco 0.7% | ||
Altria Group, Inc. | 150,120 | 6,970,072 |
Philip Morris International, Inc. | 129,851 | 12,634,502 |
Total | 19,604,574 | |
Total Consumer Staples | 186,980,737 | |
Energy 4.7% | ||
Energy Equipment & Services 0.4% | ||
Baker Hughes Co. | 83,887 | 2,566,943 |
Halliburton Co. | 76,061 | 2,755,690 |
Schlumberger Ltd. | 118,777 | 6,320,124 |
Total | 11,642,757 | |
Oil, Gas & Consumable Fuels 4.3% | ||
APA Corp. | 26,931 | 1,033,612 |
Chevron Corp. | 149,011 | 23,956,498 |
ConocoPhillips Co. | 104,376 | 10,787,260 |
Coterra Energy, Inc. | 66,045 | 1,649,144 |
Devon Energy Corp. | 54,756 | 2,952,444 |
Diamondback Energy, Inc. | 14,742 | 2,072,430 |
EOG Resources, Inc. | 49,202 | 5,560,810 |
EQT Corp. | 30,745 | 1,020,119 |
Exxon Mobil Corp.(b) | 344,964 | 37,914,993 |
Hess Corp. | 23,243 | 3,130,832 |
Kinder Morgan, Inc. | 165,686 | 2,826,603 |
Marathon Oil Corp. | 53,196 | 1,337,879 |
Marathon Petroleum Corp. | 39,257 | 4,852,165 |
Occidental Petroleum Corp. | 60,907 | 3,566,714 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
ONEOK, Inc. | 37,439 | 2,450,383 |
Phillips 66 | 39,589 | 4,060,248 |
Pioneer Natural Resources Co. | 19,902 | 3,988,560 |
Targa Resources Corp. | 18,962 | 1,405,084 |
Valero Energy Corp. | 32,293 | 4,253,957 |
Williams Companies, Inc. (The) | 102,024 | 3,070,922 |
Total | 121,890,657 | |
Total Energy | 133,533,414 | |
Financials 11.6% | ||
Banks 3.9% | ||
Bank of America Corp. | 584,631 | 20,052,843 |
Citigroup, Inc. | 162,238 | 8,223,844 |
Citizens Financial Group, Inc. | 41,253 | 1,722,725 |
Comerica, Inc. | 10,969 | 768,927 |
Fifth Third Bancorp | 57,495 | 2,087,069 |
First Republic Bank | 15,322 | 1,884,759 |
Huntington Bancshares, Inc. | 120,848 | 1,851,391 |
JPMorgan Chase & Co. | 245,696 | 35,220,522 |
KeyCorp | 78,149 | 1,429,345 |
M&T Bank Corp. | 14,459 | 2,245,338 |
PNC Financial Services Group, Inc. (The) | 33,784 | 5,335,169 |
Regions Financial Corp. | 78,272 | 1,825,303 |
Signature Bank | 5,271 | 606,429 |
SVB Financial Group(a) | 4,951 | 1,426,433 |
Truist Financial Corp. | 111,135 | 5,217,788 |
U.S. Bancorp | 113,257 | 5,405,757 |
Wells Fargo & Co. | 319,181 | 14,928,095 |
Zions Bancorp | 12,533 | 634,421 |
Total | 110,866,158 | |
Capital Markets 3.1% | ||
Ameriprise Financial, Inc.(c) | 8,914 | 3,056,343 |
Bank of New York Mellon Corp. (The) | 61,611 | 3,134,768 |
BlackRock, Inc. | 12,581 | 8,673,719 |
Cboe Global Markets, Inc. | 8,886 | 1,121,147 |
Charles Schwab Corp. (The) | 127,766 | 9,955,527 |
CME Group, Inc. | 30,132 | 5,585,267 |
Factset Research Systems, Inc. | 3,191 | 1,322,829 |
Franklin Resources, Inc. | 23,794 | 701,209 |
Goldman Sachs Group, Inc. (The) | 28,365 | 9,974,552 |
10 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Intercontinental Exchange, Inc. | 46,786 | 4,762,815 |
Invesco Ltd. | 38,096 | 672,775 |
MarketAxess Holdings, Inc. | 3,153 | 1,076,592 |
Moody’s Corp. | 13,197 | 3,829,109 |
Morgan Stanley | 110,424 | 10,655,916 |
MSCI, Inc. | 6,698 | 3,497,361 |
Nasdaq, Inc. | 28,394 | 1,591,768 |
Northern Trust Corp. | 17,458 | 1,663,224 |
Raymond James Financial, Inc. | 16,216 | 1,758,787 |
S&P Global, Inc. | 27,893 | 9,517,093 |
State Street Corp. | 30,736 | 2,725,668 |
T. Rowe Price Group, Inc. | 18,718 | 2,101,657 |
Total | 87,378,126 | |
Consumer Finance 0.6% | ||
American Express Co. | 50,073 | 8,712,201 |
Capital One Financial Corp. | 31,972 | 3,487,506 |
Discover Financial Services | 22,886 | 2,563,232 |
Synchrony Financial | 37,739 | 1,347,660 |
Total | 16,110,599 | |
Diversified Financial Services 1.6% | ||
Berkshire Hathaway, Inc., Class B(a) | 150,920 | 46,057,766 |
Insurance 2.4% | ||
Aflac, Inc. | 47,396 | 3,230,037 |
Allstate Corp. (The) | 22,215 | 2,860,848 |
American International Group, Inc. | 62,235 | 3,803,181 |
Aon PLC, Class A | 17,327 | 5,268,274 |
Arch Capital Group Ltd.(a) | 30,982 | 2,168,740 |
Arthur J Gallagher & Co. | 17,661 | 3,308,788 |
Assurant, Inc. | 4,425 | 563,701 |
Brown & Brown, Inc. | 19,691 | 1,104,074 |
Chubb Ltd. | 34,766 | 7,336,321 |
Cincinnati Financial Corp. | 13,166 | 1,589,136 |
Everest Re Group Ltd. | 3,281 | 1,259,806 |
Globe Life, Inc. | 7,578 | 922,167 |
Hartford Financial Services Group, Inc. (The) | 26,645 | 2,085,771 |
Lincoln National Corp. | 12,898 | 409,125 |
Loews Corp. | 16,506 | 1,008,351 |
Marsh & McLennan Companies, Inc. | 41,548 | 6,736,593 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
MetLife, Inc. | 55,206 | 3,959,926 |
Principal Financial Group, Inc. | 19,061 | 1,707,103 |
Progressive Corp. (The) | 49,008 | 7,033,628 |
Prudential Financial, Inc. | 30,825 | 3,082,500 |
Travelers Companies, Inc. (The) | 19,630 | 3,633,906 |
Willis Towers Watson PLC | 9,066 | 2,124,708 |
WR Berkley Corp. | 17,122 | 1,133,305 |
Total | 66,329,989 | |
Total Financials | 326,742,638 | |
Health Care 14.2% | ||
Biotechnology 2.2% | ||
AbbVie, Inc. | 148,135 | 22,797,976 |
Amgen, Inc. | 44,695 | 10,354,044 |
Biogen, Inc.(a) | 12,062 | 3,255,051 |
Gilead Sciences, Inc. | 105,060 | 8,460,482 |
Incyte Corp.(a) | 15,467 | 1,190,650 |
Moderna, Inc.(a) | 27,675 | 3,841,567 |
Regeneron Pharmaceuticals, Inc.(a) | 8,970 | 6,820,967 |
Vertex Pharmaceuticals, Inc.(a) | 21,501 | 6,241,525 |
Total | 62,962,262 | |
Health Care Equipment & Supplies 2.8% | ||
Abbott Laboratories | 146,048 | 14,856,002 |
Align Technology, Inc.(a) | 6,085 | 1,883,307 |
Baxter International, Inc. | 42,227 | 1,686,969 |
Becton Dickinson and Co. | 23,889 | 5,603,165 |
Boston Scientific Corp.(a) | 119,976 | 5,605,279 |
Cooper Companies, Inc. (The) | 4,133 | 1,351,367 |
Dentsply Sirona, Inc. | 18,002 | 685,336 |
DexCom, Inc.(a) | 32,354 | 3,591,617 |
Edwards Lifesciences Corp.(a) | 51,788 | 4,165,827 |
GE HealthCare Technologies, Inc.(a) | 30,509 | 2,318,684 |
Hologic, Inc.(a) | 20,912 | 1,665,432 |
IDEXX Laboratories, Inc.(a) | 6,937 | 3,282,866 |
Intuitive Surgical, Inc.(a) | 29,601 | 6,790,173 |
Medtronic PLC | 111,335 | 9,218,538 |
ResMed, Inc. | 12,270 | 2,613,510 |
STERIS PLC | 8,362 | 1,572,307 |
Stryker Corp. | 28,212 | 7,416,371 |
Columbia Large Cap Index Fund | Annual Report 2023 | 11 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Teleflex, Inc. | 3,929 | 936,006 |
Zimmer Biomet Holdings, Inc. | 17,578 | 2,177,387 |
Total | 77,420,143 | |
Health Care Providers & Services 3.2% | ||
AmerisourceBergen Corp. | 13,566 | 2,110,327 |
Cardinal Health, Inc. | 21,957 | 1,662,365 |
Centene Corp.(a) | 47,432 | 3,244,349 |
Cigna Corp. (The) | 25,610 | 7,480,681 |
CVS Health Corp. | 110,063 | 9,194,663 |
DaVita, Inc.(a) | 4,604 | 378,725 |
Elevance Health, Inc. | 20,005 | 9,395,748 |
HCA Healthcare, Inc. | 17,761 | 4,323,916 |
Henry Schein, Inc.(a) | 11,354 | 889,132 |
Humana, Inc. | 10,605 | 5,249,687 |
Laboratory Corp. of America Holdings | 7,421 | 1,776,291 |
McKesson Corp. | 11,877 | 4,154,693 |
Molina Healthcare, Inc.(a) | 4,892 | 1,346,914 |
Quest Diagnostics, Inc. | 9,540 | 1,319,954 |
UnitedHealth Group, Inc. | 78,265 | 37,249,444 |
Universal Health Services, Inc., Class B | 5,374 | 717,805 |
Total | 90,494,694 | |
Life Sciences Tools & Services 1.8% | ||
Agilent Technologies, Inc. | 24,797 | 3,520,430 |
Bio-Rad Laboratories, Inc., Class A(a) | 1,804 | 862,023 |
Bio-Techne Corp. | 13,148 | 955,071 |
Charles River Laboratories International, Inc.(a) | 4,262 | 934,827 |
Danaher Corp. | 54,879 | 13,584,199 |
Illumina, Inc.(a) | 13,176 | 2,624,659 |
IQVIA Holdings, Inc.(a) | 15,558 | 3,243,376 |
Mettler-Toledo International, Inc.(a) | 1,867 | 2,676,737 |
PerkinElmer, Inc. | 10,573 | 1,317,079 |
Thermo Fisher Scientific, Inc. | 32,852 | 17,797,899 |
Waters Corp.(a) | 4,976 | 1,546,989 |
West Pharmaceutical Services, Inc. | 6,201 | 1,965,903 |
Total | 51,029,192 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pharmaceuticals 4.2% | ||
Bristol-Myers Squibb Co. | 178,095 | 12,281,431 |
Catalent, Inc.(a) | 15,074 | 1,028,348 |
Eli Lilly & Co. | 66,060 | 20,559,193 |
Johnson & Johnson | 218,999 | 33,563,787 |
Merck & Co., Inc. | 212,374 | 22,562,614 |
Organon & Co. | 21,307 | 521,808 |
Pfizer, Inc. | 470,192 | 19,075,689 |
Viatris, Inc. | 101,579 | 1,158,001 |
Zoetis, Inc. | 39,040 | 6,519,680 |
Total | 117,270,551 | |
Total Health Care | 399,176,842 | |
Industrials 8.4% | ||
Aerospace & Defense 1.8% | ||
Boeing Co. (The)(a) | 46,926 | 9,457,935 |
General Dynamics Corp. | 18,858 | 4,297,927 |
Howmet Aerospace, Inc. | 30,842 | 1,300,916 |
Huntington Ingalls Industries, Inc. | 3,343 | 719,414 |
L3Harris Technologies, Inc. | 15,949 | 3,368,269 |
Lockheed Martin Corp. | 19,538 | 9,266,092 |
Northrop Grumman Corp. | 12,119 | 5,624,549 |
Raytheon Technologies Corp. | 123,138 | 12,078,606 |
Textron, Inc. | 17,487 | 1,268,332 |
TransDigm Group, Inc. | 4,327 | 3,218,726 |
Total | 50,600,766 | |
Air Freight & Logistics 0.6% | ||
CH Robinson Worldwide, Inc. | 9,860 | 985,605 |
Expeditors International of Washington, Inc. | 13,330 | 1,393,785 |
FedEx Corp. | 20,053 | 4,075,171 |
United Parcel Service, Inc., Class B | 61,132 | 11,155,979 |
Total | 17,610,540 | |
Airlines 0.2% | ||
Alaska Air Group, Inc.(a) | 10,624 | 508,146 |
American Airlines Group, Inc.(a) | 54,438 | 869,919 |
Delta Air Lines, Inc.(a) | 53,708 | 2,059,165 |
Southwest Airlines Co. | 49,735 | 1,670,101 |
United Airlines Holdings, Inc.(a) | 27,385 | 1,422,925 |
Total | 6,530,256 |
12 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Building Products 0.4% | ||
Allegion PLC | 7,358 | 829,320 |
AO Smith Corp. | 10,627 | 697,450 |
Carrier Global Corp. | 70,048 | 3,154,262 |
Johnson Controls International PLC | 57,688 | 3,618,191 |
Masco Corp. | 18,891 | 990,455 |
Trane Technologies PLC | 19,291 | 3,568,256 |
Total | 12,857,934 | |
Commercial Services & Supplies 0.5% | ||
Cintas Corp. | 7,230 | 3,170,138 |
Copart, Inc.(a) | 35,895 | 2,529,162 |
Republic Services, Inc. | 17,205 | 2,218,241 |
Rollins, Inc. | 19,388 | 682,457 |
Waste Management, Inc. | 31,289 | 4,685,841 |
Total | 13,285,839 | |
Construction & Engineering 0.1% | ||
Jacobs Solutions, Inc. | 10,689 | 1,277,335 |
Quanta Services, Inc. | 11,970 | 1,931,958 |
Total | 3,209,293 | |
Electrical Equipment 0.6% | ||
AMETEK, Inc. | 19,237 | 2,723,190 |
Eaton Corp. PLC | 33,313 | 5,827,443 |
Emerson Electric Co. | 49,529 | 4,096,543 |
Generac Holdings, Inc.(a) | 5,307 | 636,893 |
Rockwell Automation, Inc. | 9,620 | 2,837,227 |
Total | 16,121,296 | |
Industrial Conglomerates 0.8% | ||
3M Co. | 46,300 | 4,988,362 |
General Electric Co. | 91,526 | 7,753,168 |
Honeywell International, Inc. | 56,317 | 10,783,579 |
Total | 23,525,109 | |
Machinery 1.9% | ||
Caterpillar, Inc. | 43,591 | 10,442,224 |
Cummins, Inc. | 11,813 | 2,871,504 |
Deere & Co. | 23,006 | 9,645,036 |
Dover Corp. | 11,757 | 1,762,374 |
Fortive Corp. | 29,636 | 1,975,536 |
IDEX Corp. | 6,318 | 1,421,424 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Illinois Tool Works, Inc. | 23,415 | 5,459,442 |
Ingersoll Rand, Inc. | 33,918 | 1,969,618 |
Nordson Corp. | 4,505 | 989,478 |
Otis Worldwide Corp. | 34,895 | 2,952,815 |
PACCAR, Inc. | 43,695 | 3,154,779 |
Parker-Hannifin Corp. | 10,756 | 3,784,499 |
Pentair PLC | 13,779 | 770,797 |
Snap-On, Inc. | 4,452 | 1,107,123 |
Stanley Black & Decker, Inc. | 12,392 | 1,060,879 |
Westinghouse Air Brake Technologies Corp. | 15,234 | 1,589,363 |
Xylem, Inc. | 15,096 | 1,549,604 |
Total | 52,506,495 | |
Professional Services 0.3% | ||
CoStar Group, Inc.(a) | 34,066 | 2,407,103 |
Equifax, Inc. | 10,256 | 2,077,148 |
Leidos Holdings, Inc. | 11,450 | 1,111,451 |
Robert Half International, Inc. | 9,088 | 732,675 |
Verisk Analytics, Inc. | 13,100 | 2,241,541 |
Total | 8,569,918 | |
Road & Rail 0.9% | ||
CSX Corp. | 176,106 | 5,369,472 |
JB Hunt Transport Services, Inc. | 6,938 | 1,254,321 |
Norfolk Southern Corp. | 19,392 | 4,359,709 |
Old Dominion Freight Line, Inc. | 7,589 | 2,574,644 |
Union Pacific Corp. | 51,498 | 10,674,506 |
Total | 24,232,652 | |
Trading Companies & Distributors 0.3% | ||
Fastenal Co. | 47,977 | 2,473,694 |
United Rentals, Inc. | 5,806 | 2,720,285 |
W.W. Grainger, Inc. | 3,767 | 2,517,976 |
Total | 7,711,955 | |
Total Industrials | 236,762,053 |
Columbia Large Cap Index Fund | Annual Report 2023 | 13 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Information Technology 27.0% | ||
Communications Equipment 0.9% | ||
Arista Networks, Inc.(a) | 20,733 | 2,875,667 |
Cisco Systems, Inc. | 343,932 | 16,653,187 |
F5, Inc.(a) | 5,014 | 716,902 |
Juniper Networks, Inc. | 27,186 | 836,785 |
Motorola Solutions, Inc. | 14,006 | 3,680,917 |
Total | 24,763,458 | |
Electronic Equipment, Instruments & Components 0.7% | ||
Amphenol Corp., Class A | 49,848 | 3,864,217 |
CDW Corp. | 11,341 | 2,295,645 |
Corning, Inc. | 63,764 | 2,164,788 |
Keysight Technologies, Inc.(a) | 14,977 | 2,395,721 |
TE Connectivity Ltd. | 26,644 | 3,392,314 |
Teledyne Technologies, Inc.(a) | 3,926 | 1,688,455 |
Trimble Navigation Ltd.(a) | 20,658 | 1,075,456 |
Zebra Technologies Corp., Class A(a) | 4,325 | 1,298,581 |
Total | 18,175,177 | |
IT Services 4.3% | ||
Accenture PLC, Class A | 52,778 | 14,015,198 |
Akamai Technologies, Inc.(a) | 13,171 | 956,215 |
Automatic Data Processing, Inc. | 34,748 | 7,638,305 |
Broadridge Financial Solutions, Inc. | 9,855 | 1,387,387 |
Cognizant Technology Solutions Corp., Class A | 43,048 | 2,696,096 |
DXC Technology Co.(a) | 19,271 | 534,577 |
EPAM Systems, Inc.(a) | 4,818 | 1,482,258 |
Fidelity National Information Services, Inc. | 49,704 | 3,149,742 |
Fiserv, Inc.(a) | 53,192 | 6,121,867 |
FleetCor Technologies, Inc.(a) | 6,178 | 1,326,973 |
Gartner, Inc.(a) | 6,619 | 2,169,774 |
Global Payments, Inc. | 22,650 | 2,541,330 |
International Business Machines Corp. | 75,733 | 9,792,277 |
Jack Henry & Associates, Inc. | 6,110 | 1,003,506 |
MasterCard, Inc., Class A | 71,106 | 25,263,251 |
Paychex, Inc. | 26,868 | 2,966,227 |
PayPal Holdings, Inc.(a) | 95,493 | 7,028,285 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
VeriSign, Inc.(a) | 7,726 | 1,520,709 |
Visa, Inc., Class A | 136,955 | 30,121,883 |
Total | 121,715,860 | |
Semiconductors & Semiconductor Equipment 5.9% | ||
Advanced Micro Devices, Inc.(a) | 135,057 | 10,612,779 |
Analog Devices, Inc. | 43,083 | 7,904,438 |
Applied Materials, Inc. | 72,063 | 8,370,117 |
Broadcom, Inc. | 33,925 | 20,161,288 |
Enphase Energy, Inc.(a) | 11,386 | 2,397,095 |
First Solar, Inc.(a) | 8,305 | 1,404,708 |
Intel Corp. | 345,693 | 8,618,126 |
KLA Corp. | 11,871 | 4,503,620 |
Lam Research Corp. | 11,424 | 5,552,178 |
Microchip Technology, Inc. | 46,071 | 3,733,133 |
Micron Technology, Inc. | 91,065 | 5,265,378 |
Monolithic Power Systems, Inc. | 3,735 | 1,808,823 |
NVIDIA Corp. | 208,572 | 48,422,076 |
NXP Semiconductors NV | 21,706 | 3,874,087 |
ON Semiconductor Corp.(a) | 36,221 | 2,803,868 |
Qorvo, Inc.(a) | 8,493 | 856,859 |
QUALCOMM, Inc. | 93,899 | 11,599,343 |
Skyworks Solutions, Inc. | 13,440 | 1,499,501 |
SolarEdge Technologies, Inc.(a) | 4,682 | 1,488,501 |
Teradyne, Inc. | 13,047 | 1,319,574 |
Texas Instruments, Inc. | 76,022 | 13,033,972 |
Total | 165,229,464 | |
Software 8.4% | ||
Adobe, Inc.(a) | 38,942 | 12,615,261 |
ANSYS, Inc.(a) | 7,297 | 2,215,442 |
Autodesk, Inc.(a) | 18,081 | 3,592,514 |
Cadence Design Systems, Inc.(a) | 22,978 | 4,433,375 |
Ceridian HCM Holding, Inc.(a) | 12,866 | 938,317 |
Fortinet, Inc.(a) | 54,315 | 3,228,484 |
Gen Digital, Inc. | 48,559 | 947,386 |
Intuit, Inc. | 23,610 | 9,613,520 |
Microsoft Corp. | 624,415 | 155,741,589 |
Oracle Corp. | 128,729 | 11,250,915 |
Paycom Software, Inc.(a) | 4,072 | 1,177,052 |
PTC, Inc.(a) | 8,855 | 1,109,797 |
14 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Roper Technologies, Inc. | 8,883 | 3,821,467 |
Salesforce, Inc.(a) | 83,764 | 13,704,628 |
ServiceNow, Inc.(a) | 16,920 | 7,312,317 |
Synopsys, Inc.(a) | 12,808 | 4,659,038 |
Tyler Technologies, Inc.(a) | 3,488 | 1,120,520 |
Total | 237,481,622 | |
Technology Hardware, Storage & Peripherals 6.8% | ||
Apple, Inc. | 1,252,572 | 184,641,639 |
Hewlett Packard Enterprise Co. | 107,779 | 1,682,430 |
HP, Inc. | 74,150 | 2,188,908 |
NetApp, Inc. | 18,207 | 1,175,262 |
Seagate Technology Holdings PLC | 16,083 | 1,038,318 |
Western Digital Corp.(a) | 26,608 | 1,023,876 |
Total | 191,750,433 | |
Total Information Technology | 759,116,014 | |
Materials 2.7% | ||
Chemicals 1.9% | ||
Air Products & Chemicals, Inc. | 18,579 | 5,313,223 |
Albemarle Corp. | 9,813 | 2,495,544 |
Celanese Corp., Class A | 8,356 | 971,218 |
CF Industries Holdings, Inc. | 16,434 | 1,411,516 |
Corteva, Inc. | 59,848 | 3,727,932 |
Dow, Inc. | 58,949 | 3,371,883 |
DuPont de Nemours, Inc. | 41,613 | 3,038,997 |
Eastman Chemical Co. | 10,051 | 856,345 |
Ecolab, Inc. | 20,757 | 3,308,043 |
FMC Corp. | 10,551 | 1,362,662 |
International Flavors & Fragrances, Inc. | 21,357 | 1,990,472 |
Linde PLC | 41,411 | 14,426,350 |
LyondellBasell Industries NV, Class A | 21,275 | 2,042,187 |
Mosaic Co. (The) | 28,520 | 1,516,979 |
PPG Industries, Inc. | 19,687 | 2,599,865 |
Sherwin-Williams Co. (The) | 19,753 | 4,372,327 |
Total | 52,805,543 | |
Construction Materials 0.1% | ||
Martin Marietta Materials, Inc. | 5,201 | 1,871,684 |
Vulcan Materials Co. | 11,133 | 2,014,071 |
Total | 3,885,755 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Containers & Packaging 0.2% | ||
Amcor PLC | 124,726 | 1,389,448 |
Avery Dennison Corp. | 6,782 | 1,235,613 |
Ball Corp. | 26,295 | 1,478,042 |
International Paper Co. | 29,792 | 1,084,131 |
Packaging Corp. of America | 7,751 | 1,059,717 |
Sealed Air Corp. | 12,117 | 589,128 |
WestRock Co. | 21,301 | 668,851 |
Total | 7,504,930 | |
Metals & Mining 0.5% | ||
Freeport-McMoRan, Inc. | 119,726 | 4,905,174 |
Newmont Corp. | 66,487 | 2,899,498 |
Nucor Corp. | 21,489 | 3,598,118 |
Steel Dynamics, Inc. | 13,971 | 1,761,883 |
Total | 13,164,673 | |
Total Materials | 77,360,901 | |
Real Estate 2.7% | ||
Equity Real Estate Investment Trusts (REITS) 2.6% | ||
Alexandria Real Estate Equities, Inc. | 12,508 | 1,873,448 |
American Tower Corp. | 39,001 | 7,722,588 |
AvalonBay Communities, Inc. | 11,718 | 2,021,589 |
Boston Properties, Inc. | 11,949 | 782,421 |
Camden Property Trust | 8,923 | 1,024,004 |
Crown Castle, Inc. | 36,274 | 4,742,826 |
Digital Realty Trust, Inc. | 24,084 | 2,510,275 |
Equinix, Inc. | 7,751 | 5,334,781 |
Equity Residential | 28,490 | 1,781,195 |
Essex Property Trust, Inc. | 5,424 | 1,236,997 |
Extra Space Storage, Inc. | 11,218 | 1,847,044 |
Federal Realty Investment Trust | 6,122 | 653,707 |
Healthpeak Properties, Inc. | 45,026 | 1,083,326 |
Host Hotels & Resorts, Inc. | 59,893 | 1,006,202 |
Invitation Homes, Inc. | 48,653 | 1,520,893 |
Iron Mountain, Inc. | 24,351 | 1,284,515 |
Kimco Realty Corp. | 51,804 | 1,067,680 |
Mid-America Apartment Communities, Inc. | 9,673 | 1,548,647 |
Prologis, Inc. | 77,320 | 9,541,288 |
Public Storage | 13,241 | 3,958,397 |
Columbia Large Cap Index Fund | Annual Report 2023 | 15 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Realty Income Corp. | 52,533 | 3,359,485 |
Regency Centers Corp. | 12,901 | 811,473 |
SBA Communications Corp. | 9,044 | 2,345,561 |
Simon Property Group, Inc. | 27,386 | 3,343,557 |
UDR, Inc. | 25,632 | 1,098,075 |
Ventas, Inc. | 33,482 | 1,628,899 |
VICI Properties, Inc. | 80,673 | 2,704,966 |
Welltower, Inc. | 39,580 | 2,933,670 |
Weyerhaeuser Co. | 61,643 | 1,926,344 |
Total | 72,693,853 | |
Real Estate Management & Development 0.1% | ||
CBRE Group, Inc., Class A(a) | 26,465 | 2,253,230 |
Total Real Estate | 74,947,083 | |
Utilities 2.8% | ||
Electric Utilities 1.8% | ||
Alliant Energy Corp. | 21,026 | 1,078,003 |
American Electric Power Co., Inc. | 43,043 | 3,786,493 |
Constellation Energy Corp. | 27,392 | 2,051,387 |
Duke Energy Corp. | 64,504 | 6,080,147 |
Edison International | 31,987 | 2,117,859 |
Entergy Corp. | 17,045 | 1,753,419 |
Evergy, Inc. | 19,227 | 1,130,740 |
Eversource Energy | 29,175 | 2,198,628 |
Exelon Corp. | 83,240 | 3,362,064 |
FirstEnergy Corp. | 45,497 | 1,798,951 |
NextEra Energy, Inc. | 166,452 | 11,823,086 |
NRG Energy, Inc. | 19,298 | 632,781 |
PG&E Corp.(a) | 134,863 | 2,106,560 |
Pinnacle West Capital Corp. | 9,477 | 698,265 |
PPL Corp. | 61,676 | 1,669,569 |
Southern Co. (The) | 91,192 | 5,750,568 |
Xcel Energy, Inc. | 45,839 | 2,959,824 |
Total | 50,998,344 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Gas Utilities 0.0% | ||
Atmos Energy Corp. | 11,718 | 1,321,908 |
Independent Power and Renewable Electricity Producers 0.1% | ||
AES Corp. (The) | 55,950 | 1,380,846 |
Multi-Utilities 0.8% | ||
Ameren Corp. | 21,654 | 1,791,002 |
CenterPoint Energy, Inc. | 52,732 | 1,467,004 |
CMS Energy Corp. | 24,312 | 1,433,679 |
Consolidated Edison, Inc. | 29,724 | 2,655,839 |
Dominion Energy, Inc. | 69,799 | 3,882,220 |
DTE Energy Co. | 16,229 | 1,780,484 |
NiSource, Inc. | 34,021 | 933,196 |
Public Service Enterprise Group, Inc. | 41,794 | 2,525,611 |
Sempra Energy | 26,330 | 3,948,447 |
WEC Energy Group, Inc. | 26,422 | 2,342,575 |
Total | 22,760,057 | |
Water Utilities 0.1% | ||
American Water Works Co., Inc. | 15,231 | 2,138,128 |
Total Utilities | 78,599,283 | |
Total Common Stocks (Cost $813,200,865) | 2,782,874,145 | |
Money Market Funds 1.0% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(c),(d) | 27,383,695 | 27,372,742 |
Total Money Market Funds (Cost $27,373,150) | 27,372,742 | |
Total Investments in Securities (Cost: $840,574,015) | 2,810,246,887 | |
Other Assets & Liabilities, Net | 5,303,922 | |
Net Assets | 2,815,550,809 |
16 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 161 | 03/2023 | USD | 32,002,775 | 728,063 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Ameriprise Financial, Inc. | ||||||||
3,106,724 | 185,954 | (198,231) | (38,104) | 3,056,343 | 430,713 | 48,293 | 8,914 | |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
48,487,871 | 734,277,085 | (755,394,166) | 1,952 | 27,372,742 | (10,362) | 890,653 | 27,383,695 | |
Total | 51,594,595 | (36,152) | 30,429,085 | 420,351 | 938,946 |
(d) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Large Cap Index Fund | Annual Report 2023 | 17 |
February 28, 2023
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 | ||||
Common Stocks | ||||
Communication Services | 213,332,361 | — | — | 213,332,361 |
Consumer Discretionary | 296,322,819 | — | — | 296,322,819 |
Consumer Staples | 186,980,737 | — | — | 186,980,737 |
Energy | 133,533,414 | — | — | 133,533,414 |
Financials | 326,742,638 | — | — | 326,742,638 |
Health Care | 399,176,842 | — | — | 399,176,842 |
Industrials | 236,762,053 | — | — | 236,762,053 |
Information Technology | 759,116,014 | — | — | 759,116,014 |
Materials | 77,360,901 | — | — | 77,360,901 |
Real Estate | 74,947,083 | — | — | 74,947,083 |
Utilities | 78,599,283 | — | — | 78,599,283 |
Total Common Stocks | 2,782,874,145 | — | — | 2,782,874,145 |
Money Market Funds | 27,372,742 | — | — | 27,372,742 |
Total Investments in Securities | 2,810,246,887 | — | — | 2,810,246,887 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 728,063 | — | — | 728,063 |
Total | 2,810,974,950 | — | — | 2,810,974,950 |
18 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $812,997,899) | $2,779,817,802 |
Affiliated issuers (cost $27,576,116) | 30,429,085 |
Cash | 731 |
Receivable for: | |
Capital shares sold | 2,120,960 |
Dividends | 4,584,301 |
Foreign tax reclaims | 983 |
Expense reimbursement due from Investment Manager | 147 |
Total assets | 2,816,954,009 |
Liabilities | |
Payable for: | |
Capital shares purchased | 996,931 |
Variation margin for futures contracts | 97,765 |
Management services fees | 15,465 |
Distribution and/or service fees | 2,992 |
Compensation of board members | 290,047 |
Total liabilities | 1,403,200 |
Net assets applicable to outstanding capital stock | $2,815,550,809 |
Represented by | |
Paid in capital | 770,760,453 |
Total distributable earnings (loss) | 2,044,790,356 |
Total - representing net assets applicable to outstanding capital stock | $2,815,550,809 |
Class A | |
Net assets | $434,669,832 |
Shares outstanding | 9,472,546 |
Net asset value per share | $45.89 |
Institutional Class | |
Net assets | $1,961,319,840 |
Shares outstanding | 42,341,679 |
Net asset value per share | $46.32 |
Institutional 2 Class | |
Net assets | $194,895,397 |
Shares outstanding | 4,108,899 |
Net asset value per share | $47.43 |
Institutional 3 Class | |
Net assets | $224,665,740 |
Shares outstanding | 4,972,817 |
Net asset value per share | $45.18 |
Columbia Large Cap Index Fund | Annual Report 2023 | 19 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $50,268,612 |
Dividends — affiliated issuers | 938,946 |
Interfund lending | 1,964 |
Foreign taxes withheld | (12,057) |
Total income | 51,197,465 |
Expenses: | |
Management services fees | 6,165,243 |
Distribution and/or service fees | |
Class A | 1,179,300 |
Compensation of board members | 47,053 |
Interest on collateral | 1,250 |
Interest on interfund lending | 25,246 |
Total expenses | 7,418,092 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (47,053) |
Expense reduction | (1,925) |
Total net expenses | 7,369,114 |
Net investment income | 43,828,351 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 257,824,295 |
Investments — affiliated issuers | 420,351 |
Foreign currency translations | (234) |
Futures contracts | (7,930,361) |
Net realized gain | 250,314,051 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (561,479,864) |
Investments — affiliated issuers | (36,152) |
Futures contracts | 1,327,140 |
Net change in unrealized appreciation (depreciation) | (560,188,876) |
Net realized and unrealized loss | (309,874,825) |
Net decrease in net assets resulting from operations | $(266,046,474) |
20 | Columbia Large Cap Index Fund | Annual Report 2023 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $43,828,351 | $42,875,976 |
Net realized gain | 250,314,051 | 570,948,235 |
Net change in unrealized appreciation (depreciation) | (560,188,876) | (28,128,125) |
Net increase (decrease) in net assets resulting from operations | (266,046,474) | 585,696,086 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (53,485,506) | (91,728,044) |
Institutional Class | (242,981,119) | (419,937,711) |
Institutional 2 Class | (28,816,939) | (64,117,563) |
Institutional 3 Class | (24,896,322) | (12,469,784) |
Total distributions to shareholders | (350,179,886) | (588,253,102) |
Decrease in net assets from capital stock activity | (47,278,459) | (217,347,737) |
Total decrease in net assets | (663,504,819) | (219,904,753) |
Net assets at beginning of year | 3,479,055,628 | 3,698,960,381 |
Net assets at end of year | $2,815,550,809 | $3,479,055,628 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,648,586 | 80,976,181 | 1,943,795 | 118,991,557 |
Distributions reinvested | 1,079,208 | 49,731,305 | 1,396,652 | 84,972,068 |
Redemptions | (2,650,185) | (129,444,586) | (4,258,462) | (263,267,391) |
Net increase (decrease) | 77,609 | 1,262,900 | (918,015) | (59,303,766) |
Institutional Class | ||||
Subscriptions | 6,315,169 | 314,831,176 | 4,162,816 | 257,012,616 |
Distributions reinvested | 4,786,213 | 222,552,750 | 5,816,571 | 356,591,794 |
Redemptions | (12,710,957) | (634,980,237) | (8,482,728) | (535,721,305) |
Net increase (decrease) | (1,609,575) | (97,596,311) | 1,496,659 | 77,883,105 |
Institutional 2 Class | ||||
Subscriptions | 945,540 | 47,993,062 | 1,169,174 | 75,340,440 |
Distributions reinvested | 594,921 | 28,322,336 | 1,010,920 | 63,261,083 |
Redemptions | (3,978,392) | (196,796,940) | (2,185,803) | (141,189,263) |
Net decrease | (2,437,931) | (120,481,542) | (5,709) | (2,587,740) |
Institutional 3 Class | ||||
Subscriptions | 9,207,690 | 437,669,762 | 224,600 | 13,353,125 |
Distributions reinvested | 285,081 | 12,955,023 | 201,551 | 12,095,264 |
Redemptions | (5,825,935) | (281,088,291) | (4,160,725) | (258,787,725) |
Net increase (decrease) | 3,666,836 | 169,536,494 | (3,734,574) | (233,339,336) |
Total net decrease | (303,061) | (47,278,459) | (3,161,639) | (217,347,737) |
Columbia Large Cap Index Fund | Annual Report 2023 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $56.34 | 0.60 | (5.27) | (4.67) | (0.63) | (5.15) | (5.78) |
Year Ended 2/28/2022 | $57.11 | 0.58 | 8.97 | 9.55 | (0.62) | (9.70) | (10.32) |
Year Ended 2/28/2021 | $47.14 | 0.73 | 13.20 | 13.93 | (0.78) | (3.18) | (3.96) |
Year Ended 2/29/2020 | $48.30 | 0.84 | 2.97 | 3.81 | (0.88) | (4.09) | (4.97) |
Year Ended 2/28/2019 | $50.42 | 0.81 | 1.18 | 1.99 | (0.83) | (3.28) | (4.11) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $56.82 | 0.73 | (5.32) | (4.59) | (0.76) | (5.15) | (5.91) |
Year Ended 2/28/2022 | $57.52 | 0.74 | 9.04 | 9.78 | (0.78) | (9.70) | (10.48) |
Year Ended 2/28/2021 | $47.44 | 0.86 | 13.31 | 14.17 | (0.91) | (3.18) | (4.09) |
Year Ended 2/29/2020 | $48.57 | 0.98 | 2.98 | 3.96 | (1.00) | (4.09) | (5.09) |
Year Ended 2/28/2019 | $50.68 | 0.94 | 1.18 | 2.12 | (0.95) | (3.28) | (4.23) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $58.02 | 0.74 | (5.42) | (4.68) | (0.76) | (5.15) | (5.91) |
Year Ended 2/28/2022 | $58.55 | 0.75 | 9.20 | 9.95 | (0.78) | (9.70) | (10.48) |
Year Ended 2/28/2021 | $48.23 | 0.88 | 13.53 | 14.41 | (0.91) | (3.18) | (4.09) |
Year Ended 2/29/2020 | $49.30 | 0.99 | 3.03 | 4.02 | (1.00) | (4.09) | (5.09) |
Year Ended 2/28/2019 | $51.38 | 0.95 | 1.20 | 2.15 | (0.95) | (3.28) | (4.23) |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $55.59 | 0.70 | (5.20) | (4.50) | (0.76) | (5.15) | (5.91) |
Year Ended 2/28/2022 | $56.45 | 0.68 | 8.94 | 9.62 | (0.78) | (9.70) | (10.48) |
Year Ended 2/28/2021 | $46.63 | 0.83 | 13.08 | 13.91 | (0.91) | (3.18) | (4.09) |
Year Ended 2/29/2020 | $47.81 | 0.98 | 2.93 | 3.91 | (1.00) | (4.09) | (5.09) |
Year Ended 2/28/2019 | $49.95 | 0.92 | 1.17 | 2.09 | (0.95) | (3.28) | (4.23) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
22 | Columbia Large Cap Index Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $45.89 | (8.02%) | 0.45%(c),(d) | 0.45%(c),(d),(e) | 1.21% | 9% | $434,670 |
Year Ended 2/28/2022 | $56.34 | 15.86% | 0.45%(c) | 0.45%(c),(e) | 0.92% | 2% | $529,310 |
Year Ended 2/28/2021 | $57.11 | 30.69% | 0.45%(c) | 0.45%(c),(e) | 1.43% | 11% | $588,972 |
Year Ended 2/29/2020 | $47.14 | 7.70% | 0.45% | 0.45%(e) | 1.68% | 7% | $579,726 |
Year Ended 2/28/2019 | $48.30 | 4.19% | 0.45%(d) | 0.45%(d),(e) | 1.64% | 6% | $726,445 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $46.32 | (7.80%) | 0.20%(c),(d) | 0.20%(c),(d),(e) | 1.46% | 9% | $1,961,320 |
Year Ended 2/28/2022 | $56.82 | 16.15% | 0.20%(c) | 0.20%(c),(e) | 1.17% | 2% | $2,497,279 |
Year Ended 2/28/2021 | $57.52 | 31.02% | 0.20%(c) | 0.20%(c),(e) | 1.67% | 11% | $2,441,779 |
Year Ended 2/29/2020 | $47.44 | 7.97% | 0.20% | 0.20%(e) | 1.94% | 7% | $2,136,890 |
Year Ended 2/28/2019 | $48.57 | 4.46% | 0.20%(d) | 0.20%(d),(e) | 1.89% | 6% | $2,134,512 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $47.43 | (7.79%) | 0.20%(c),(d) | 0.20%(c),(d) | 1.43% | 9% | $194,895 |
Year Ended 2/28/2022 | $58.02 | 16.15% | 0.20%(c) | 0.20%(c) | 1.17% | 2% | $379,872 |
Year Ended 2/28/2021 | $58.55 | 31.01% | 0.20%(c) | 0.20%(c) | 1.67% | 11% | $383,658 |
Year Ended 2/29/2020 | $48.23 | 7.97% | 0.20% | 0.20% | 1.93% | 7% | $311,674 |
Year Ended 2/28/2019 | $49.30 | 4.45% | 0.20%(d) | 0.20%(d) | 1.89% | 6% | $336,271 |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $45.18 | (7.81%) | 0.20%(c),(d) | 0.20%(c),(d) | 1.49% | 9% | $224,666 |
Year Ended 2/28/2022 | $55.59 | 16.17% | 0.20%(c) | 0.20%(c) | 1.10% | 2% | $72,594 |
Year Ended 2/28/2021 | $56.45 | 31.00% | 0.20%(c) | 0.20%(c) | 1.63% | 11% | $284,552 |
Year Ended 2/29/2020 | $46.63 | 7.99% | 0.20% | 0.20% | 1.98% | 7% | $51,264 |
Year Ended 2/28/2019 | $47.81 | 4.46% | 0.20%(d) | 0.20%(d) | 1.91% | 6% | $45,493 |
Columbia Large Cap Index Fund | Annual Report 2023 | 23 |
February 28, 2023
24 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Index Fund | Annual Report 2023 | 25 |
February 28, 2023
26 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 728,063* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (7,930,361) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 1,327,140 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 46,207,478 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2023. |
Columbia Large Cap Index Fund | Annual Report 2023 | 27 |
February 28, 2023
28 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Index Fund | Annual Report 2023 | 29 |
February 28, 2023
Fee rate(s) contractual through June 30, 2023 | |
Class A | 0.45% |
Institutional Class | 0.20 |
Institutional 2 Class | 0.20 |
Institutional 3 Class | 0.20 |
30 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(10,324) | 14,476 | (4,152) |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
43,867,220 | 306,312,666 | 350,179,886 | 49,452,878 | 538,800,224 | 588,253,102 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
6,890,020 | 90,496,393 | — | 1,947,691,738 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
863,283,212 | 1,985,148,334 | (37,456,596) | 1,947,691,738 |
Columbia Large Cap Index Fund | Annual Report 2023 | 31 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 63,300,000 | 3.41 | 4 |
Lender | 6,600,000 | 3.04 | 4 |
32 | Columbia Large Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Index Fund | Annual Report 2023 | 33 |
February 28, 2023
34 | Columbia Large Cap Index Fund | Annual Report 2023 |
Columbia Large Cap Index Fund | Annual Report 2023 | 35 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
100.00% | 100.00% | $266,009,772 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
36 | Columbia Large Cap Index Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Large Cap Index Fund | Annual Report 2023 | 37 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
38 | Columbia Large Cap Index Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
Columbia Large Cap Index Fund | Annual Report 2023 | 39 |
(Unaudited)
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
40 | Columbia Large Cap Index Fund | Annual Report 2023 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
Columbia Large Cap Index Fund | Annual Report 2023 | 41 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img42844f2c2.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imge8e8a50a1.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgacb4b0502.jpg)
3 | |
5 | |
7 | |
8 | |
11 | |
13 | |
14 | |
16 | |
20 | |
30 | |
31 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imga8ad175f3.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/31/97 | -15.76 | 9.09 | 12.01 |
Including sales charges | -20.60 | 7.81 | 11.34 | ||
Advisor Class | 11/08/12 | -15.58 | 9.37 | 12.28 | |
Class C | Excluding sales charges | 12/31/97 | -16.43 | 8.27 | 11.17 |
Including sales charges | -16.88 | 8.27 | 11.17 | ||
Institutional Class | 12/31/97 | -15.55 | 9.37 | 12.29 | |
Institutional 2 Class* | 12/11/13 | -15.51 | 9.44 | 12.36 | |
Institutional 3 Class* | 03/01/17 | -15.52 | 9.48 | 12.24 | |
Class R* | 10/26/16 | -15.98 | 8.83 | 11.73 | |
Russell 1000 Growth Index | -13.34 | 11.54 | 14.26 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one class of shares at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img28b2d7ca4.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 99.7 |
Money Market Funds | 0.3 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 11.3 |
Consumer Discretionary | 9.0 |
Consumer Staples | 7.3 |
Energy | 4.5 |
Financials | 2.0 |
Health Care | 12.5 |
Industrials | 9.9 |
Information Technology | 38.2 |
Materials | 1.4 |
Real Estate | 2.5 |
Utilities | 1.4 |
Total | 100.0 |
4 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
(Unaudited)
• | Stock selection drove the Fund’s underperformance of its benchmark during the period, particularly within the information technology, financials, industrials and consumer staples sectors. |
• | The Fund’s overweight relative to the benchmark in the communication services sector also weighed on the Fund’s relative performance. |
• | Individual holdings that detracted most from the Fund’s performance versus the benchmark included financial services company SVB Financial Group (which the Fund sold in 2022 before it was shut down by U.S. regulators in March 2023), semiconductor company QUALCOMM, Inc., power generation and storage company Generac Holdings, Inc. and semiconductor company NVIDIA Corp. In addition to selling SVP Financial Group in 2022, the Fund also sold its positions in Generac and NVIDIA in 2022. |
• | The Fund benefited from its allocations to and selections within the consumer discretionary and health care sectors. |
• | Strong stock selection within the communication services sector contributed to Fund performance versus its benchmark. |
• | Individual holdings that contributed most to Fund performance versus its benchmark during the period included internet retail giant Amazon.com, Inc., biotechnology company Vertex Pharmaceuticals, Inc., off-price fashion and home retailer TJX Companies, Inc. and biotechnology company Horizon Therapeutics PLC. |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 5 |
(Unaudited)
6 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,000.90 | 1,019.59 | 5.21 | 5.26 | 1.05 |
Advisor Class | 1,000.00 | 1,000.00 | 1,002.10 | 1,020.83 | 3.97 | 4.01 | 0.80 |
Class C | 1,000.00 | 1,000.00 | 996.90 | 1,015.87 | 8.91 | 9.00 | 1.80 |
Institutional Class | 1,000.00 | 1,000.00 | 1,002.20 | 1,020.83 | 3.97 | 4.01 | 0.80 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,002.70 | 1,021.12 | 3.67 | 3.71 | 0.74 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,002.20 | 1,021.32 | 3.48 | 3.51 | 0.70 |
Class R | 1,000.00 | 1,000.00 | 1,000.00 | 1,018.35 | 6.45 | 6.51 | 1.30 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 99.8% | ||
Issuer | Shares | Value ($) |
Communication Services 11.2% | ||
Entertainment 8.4% | ||
Electronic Arts, Inc. | 256,446 | 28,450,119 |
Endeavor Group Holdings, Inc., Class A(a) | 1,080,814 | 24,112,960 |
Take-Two Interactive Software, Inc.(a) | 333,726 | 36,559,683 |
Walt Disney Co. (The)(a) | 46,203 | 4,602,281 |
Total | 93,725,043 | |
Interactive Media & Services 2.8% | ||
Alphabet, Inc., Class A(a) | 342,664 | 30,860,320 |
Total Communication Services | 124,585,363 | |
Consumer Discretionary 9.0% | ||
Hotels, Restaurants & Leisure 3.4% | ||
Hilton Worldwide Holdings, Inc. | 258,231 | 37,316,962 |
Internet & Direct Marketing Retail 4.9% | ||
Amazon.com, Inc.(a) | 576,863 | 54,357,800 |
Textiles, Apparel & Luxury Goods 0.7% | ||
lululemon athletica, Inc.(a) | 25,973 | 8,030,852 |
Total Consumer Discretionary | 99,705,614 | |
Consumer Staples 7.3% | ||
Beverages 2.5% | ||
Coca-Cola Co. (The) | 468,933 | 27,906,203 |
Food Products 2.5% | ||
Darling Ingredients, Inc.(a) | 253,737 | 16,053,940 |
Kellogg Co. | 168,070 | 11,082,536 |
Total | 27,136,476 | |
Household Products 2.3% | ||
Procter & Gamble Co. (The) | 187,954 | 25,854,952 |
Total Consumer Staples | 80,897,631 | |
Energy 4.5% | ||
Energy Equipment & Services 3.5% | ||
NOV, Inc. | 1,389,939 | 30,411,865 |
Schlumberger Ltd. | 157,595 | 8,385,630 |
Total | 38,797,495 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Oil, Gas & Consumable Fuels 1.0% | ||
Hess Corp. | 83,354 | 11,227,784 |
Total Energy | 50,025,279 | |
Financials 2.0% | ||
Capital Markets 2.0% | ||
Northern Trust Corp. | 234,604 | 22,350,723 |
Total Financials | 22,350,723 | |
Health Care 12.4% | ||
Biotechnology 4.3% | ||
BioMarin Pharmaceutical, Inc.(a) | 205,343 | 20,450,109 |
Exact Sciences Corp.(a) | 102,272 | 6,374,614 |
Vertex Pharmaceuticals, Inc.(a) | 71,605 | 20,786,215 |
Total | 47,610,938 | |
Health Care Equipment & Supplies 4.0% | ||
Intuitive Surgical, Inc.(a) | 194,833 | 44,692,742 |
Health Care Providers & Services 1.1% | ||
Cigna Corp. (The) | 42,676 | 12,465,660 |
Pharmaceuticals 3.0% | ||
Catalent, Inc.(a) | 122,341 | 8,346,103 |
Eli Lilly & Co. | 79,148 | 24,632,441 |
Total | 32,978,544 | |
Total Health Care | 137,747,884 | |
Industrials 9.9% | ||
Air Freight & Logistics 2.7% | ||
United Parcel Service, Inc., Class B | 165,629 | 30,225,636 |
Commercial Services & Supplies 1.6% | ||
Cintas Corp. | 28,308 | 12,412,209 |
Ritchie Bros. Auctioneers, Inc. | 93,751 | 5,734,748 |
Total | 18,146,957 | |
Construction & Engineering 1.8% | ||
WillScot Mobile Mini Holdings Corp.(a) | 379,349 | 19,498,539 |
Machinery 0.7% | ||
Stanley Black & Decker, Inc. | 88,242 | 7,554,398 |
8 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Road & Rail 3.1% | ||
Uber Technologies, Inc.(a) | 1,026,822 | 34,152,100 |
Total Industrials | 109,577,630 | |
Information Technology 38.2% | ||
Electronic Equipment, Instruments & Components 5.7% | ||
TE Connectivity Ltd. | 68,703 | 8,747,266 |
Trimble Navigation Ltd.(a) | 145,852 | 7,593,055 |
Zebra Technologies Corp., Class A(a) | 155,021 | 46,545,055 |
Total | 62,885,376 | |
IT Services 3.5% | ||
Visa, Inc., Class A | 174,023 | 38,274,619 |
Semiconductors & Semiconductor Equipment 19.4% | ||
Advanced Micro Devices, Inc.(a) | 217,252 | 17,071,662 |
Cirrus Logic, Inc.(a) | 248,377 | 25,520,737 |
GlobalFoundries, Inc.(a) | 289,533 | 18,918,086 |
Lam Research Corp. | 125,908 | 61,192,547 |
Marvell Technology, Inc. | 377,072 | 17,024,801 |
QUALCOMM, Inc. | 503,539 | 62,202,172 |
Teradyne, Inc. | 129,092 | 13,056,365 |
Total | 214,986,370 | |
Software 9.6% | ||
Adobe, Inc.(a) | 65,031 | 21,066,793 |
Crowdstrike Holdings, Inc., Class A(a) | 166,460 | 20,090,057 |
Microsoft Corp. | 238,416 | 59,465,719 |
Nutanix, Inc., Class A(a) | 209,141 | 5,908,233 |
Total | 106,530,802 | |
Total Information Technology | 422,677,167 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Materials 1.4% | ||
Chemicals 1.4% | ||
Sherwin-Williams Co. (The) | 71,338 | 15,790,666 |
Total Materials | 15,790,666 | |
Real Estate 2.5% | ||
Equity Real Estate Investment Trusts (REITS) 2.5% | ||
Prologis, Inc. | 220,542 | 27,214,883 |
Total Real Estate | 27,214,883 | |
Utilities 1.4% | ||
Independent Power and Renewable Electricity Producers 1.4% | ||
AES Corp. (The) | 609,551 | 15,043,718 |
Total Utilities | 15,043,718 | |
Total Common Stocks (Cost $1,084,160,367) | 1,105,616,558 | |
Money Market Funds 0.3% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(b),(c) | 3,034,184 | 3,032,970 |
Total Money Market Funds (Cost $3,032,957) | 3,032,970 | |
Total Investments in Securities (Cost: $1,087,193,324) | 1,108,649,528 | |
Other Assets & Liabilities, Net | (652,860) | |
Net Assets | 1,107,996,668 |
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
15,277,661 | 566,857,297 | (579,101,980) | (8) | 3,032,970 | (18,159) | 375,519 | 3,034,184 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 9 |
February 28, 2023
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 124,585,363 | — | — | 124,585,363 |
Consumer Discretionary | 99,705,614 | — | — | 99,705,614 |
Consumer Staples | 80,897,631 | — | — | 80,897,631 |
Energy | 50,025,279 | — | — | 50,025,279 |
Financials | 22,350,723 | — | — | 22,350,723 |
Health Care | 137,747,884 | — | — | 137,747,884 |
Industrials | 109,577,630 | — | — | 109,577,630 |
Information Technology | 422,677,167 | — | — | 422,677,167 |
Materials | 15,790,666 | — | — | 15,790,666 |
Real Estate | 27,214,883 | — | — | 27,214,883 |
Utilities | 15,043,718 | — | — | 15,043,718 |
Total Common Stocks | 1,105,616,558 | — | — | 1,105,616,558 |
Money Market Funds | 3,032,970 | — | — | 3,032,970 |
Total Investments in Securities | 1,108,649,528 | — | — | 1,108,649,528 |
10 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,084,160,367) | $1,105,616,558 |
Affiliated issuers (cost $3,032,957) | 3,032,970 |
Receivable for: | |
Capital shares sold | 164,058 |
Dividends | 1,088,231 |
Foreign tax reclaims | 2,531 |
Expense reimbursement due from Investment Manager | 2,252 |
Prepaid expenses | 13,773 |
Total assets | 1,109,920,373 |
Liabilities | |
Payable for: | |
Capital shares purchased | 1,249,876 |
Management services fees | 22,463 |
Distribution and/or service fees | 5,674 |
Transfer agent fees | 117,095 |
Compensation of board members | 475,937 |
Compensation of chief compliance officer | 218 |
Other expenses | 52,442 |
Total liabilities | 1,923,705 |
Net assets applicable to outstanding capital stock | $1,107,996,668 |
Represented by | |
Paid in capital | 1,129,921,496 |
Total distributable earnings (loss) | (21,924,828) |
Total - representing net assets applicable to outstanding capital stock | $1,107,996,668 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 11 |
February 28, 2023
Class A | |
Net assets | $766,362,176 |
Shares outstanding | 67,293,097 |
Net asset value per share | $11.39 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $12.08 |
Advisor Class | |
Net assets | $16,268,687 |
Shares outstanding | 1,114,136 |
Net asset value per share | $14.60 |
Class C | |
Net assets | $7,714,644 |
Shares outstanding | 2,433,177 |
Net asset value per share | $3.17 |
Institutional Class | |
Net assets | $282,203,382 |
Shares outstanding | 20,584,000 |
Net asset value per share | $13.71 |
Institutional 2 Class | |
Net assets | $20,198,895 |
Shares outstanding | 1,352,352 |
Net asset value per share | $14.94 |
Institutional 3 Class | |
Net assets | $992,674 |
Shares outstanding | 71,390 |
Net asset value per share | $13.90 |
Class R | |
Net assets | $14,256,210 |
Shares outstanding | 1,245,483 |
Net asset value per share | $11.45 |
12 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $11,351,602 |
Dividends — affiliated issuers | 375,519 |
Interfund lending | 620 |
Foreign taxes withheld | (3,797) |
Total income | 11,723,944 |
Expenses: | |
Management services fees | 9,288,037 |
Distribution and/or service fees | |
Class A | 2,155,741 |
Class C | 96,406 |
Class R | 80,389 |
Transfer agent fees | |
Class A | 964,996 |
Advisor Class | 20,166 |
Class C | 10,775 |
Institutional Class | 385,131 |
Institutional 2 Class | 13,288 |
Institutional 3 Class | 198 |
Class R | 17,995 |
Compensation of board members | 9,033 |
Custodian fees | 10,240 |
Printing and postage fees | 85,287 |
Registration fees | 116,113 |
Audit fees | 32,700 |
Legal fees | 30,076 |
Interest on interfund lending | 126 |
Compensation of chief compliance officer | 212 |
Other | 31,137 |
Total expenses | 13,348,046 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (826,452) |
Expense reduction | (1,238) |
Total net expenses | 12,520,356 |
Net investment loss | (796,412) |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (13,373,643) |
Investments — affiliated issuers | (18,159) |
Net realized loss | (13,391,802) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (243,565,271) |
Investments — affiliated issuers | (8) |
Net change in unrealized appreciation (depreciation) | (243,565,279) |
Net realized and unrealized loss | (256,957,081) |
Net decrease in net assets resulting from operations | $(257,753,493) |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 13 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment loss | $(796,412) | $(6,040,143) |
Net realized gain (loss) | (13,391,802) | 667,650,108 |
Net change in unrealized appreciation (depreciation) | (243,565,279) | (590,491,987) |
Net increase (decrease) in net assets resulting from operations | (257,753,493) | 71,117,978 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (160,896,679) | (421,064,836) |
Advisor Class | (2,753,787) | (7,670,849) |
Class C | (4,377,770) | (10,858,622) |
Institutional Class | (56,728,449) | (167,409,437) |
Institutional 2 Class | (3,551,291) | (10,606,828) |
Institutional 3 Class | (275,220) | (503,226) |
Class R | (2,882,741) | (8,113,395) |
Total distributions to shareholders | (231,465,937) | (626,227,193) |
Increase (decrease) in net assets from capital stock activity | (55,974,325) | 359,328,810 |
Total decrease in net assets | (545,193,755) | (195,780,405) |
Net assets at beginning of year | 1,653,190,423 | 1,848,970,828 |
Net assets at end of year | $1,107,996,668 | $1,653,190,423 |
14 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 5,043,934 | 56,074,589 | 6,956,448 | 143,180,568 |
Distributions reinvested | 10,204,507 | 110,514,809 | 14,401,962 | 288,079,087 |
Redemptions | (13,336,461) | (161,761,899) | (7,191,823) | (156,275,823) |
Net increase | 1,911,980 | 4,827,499 | 14,166,587 | 274,983,832 |
Advisor Class | ||||
Subscriptions | 192,387 | 2,935,428 | 110,541 | 2,961,031 |
Distributions reinvested | 198,370 | 2,749,415 | 315,936 | 7,659,342 |
Redemptions | (396,695) | (6,153,977) | (221,140) | (5,635,233) |
Net increase (decrease) | (5,938) | (469,134) | 205,337 | 4,985,140 |
Class C | ||||
Subscriptions | 347,818 | 1,251,941 | 146,191 | 1,648,532 |
Distributions reinvested | 1,410,005 | 4,272,314 | 1,170,598 | 10,506,512 |
Redemptions | (1,338,213) | (5,424,307) | (1,479,921) | (18,661,446) |
Net increase (decrease) | 419,610 | 99,948 | (163,132) | (6,506,402) |
Institutional Class | ||||
Subscriptions | 1,472,522 | 20,742,383 | 1,926,649 | 46,905,979 |
Distributions reinvested | 3,638,896 | 47,342,044 | 6,036,812 | 139,332,423 |
Redemptions | (8,617,759) | (125,979,645) | (4,471,485) | (109,509,867) |
Net increase (decrease) | (3,506,341) | (57,895,218) | 3,491,976 | 76,728,535 |
Institutional 2 Class | ||||
Subscriptions | 120,421 | 1,979,713 | 152,604 | 4,255,802 |
Distributions reinvested | 250,620 | 3,551,291 | 429,597 | 10,606,828 |
Redemptions | (502,835) | (7,978,804) | (340,250) | (8,709,668) |
Net increase (decrease) | (131,794) | (2,447,800) | 241,951 | 6,152,962 |
Institutional 3 Class | ||||
Subscriptions | 82,541 | 1,452,653 | 3,546 | 94,111 |
Distributions reinvested | 19,494 | 257,121 | 19,395 | 453,005 |
Redemptions | (102,126) | (1,609,240) | (13,037) | (329,525) |
Net increase (decrease) | (91) | 100,534 | 9,904 | 217,591 |
Class R | ||||
Subscriptions | 170,916 | 2,118,689 | 144,845 | 3,261,279 |
Distributions reinvested | 264,472 | 2,882,741 | 402,512 | 8,113,395 |
Redemptions | (405,852) | (5,191,584) | (393,500) | (8,607,522) |
Net increase (decrease) | 29,536 | (190,154) | 153,857 | 2,767,152 |
Total net increase (decrease) | (1,283,038) | (55,974,325) | 18,106,480 | 359,328,810 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 15 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net realized gains | Total distributions to shareholders | |
Class A | ||||||
Year Ended 2/28/2023 | $16.74 | (0.02) | (2.75) | (2.77) | (2.58) | (2.58) |
Year Ended 2/28/2022 | $23.37 | (0.09) | 1.57 | 1.48 | (8.11) | (8.11) |
Year Ended 2/28/2021 | $17.67 | (0.03) | 8.53 | 8.50 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $17.18 | (0.03) | 2.34 | 2.31 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $18.33 | (0.03) | 0.75 | 0.72 | (1.87) | (1.87) |
Advisor Class | ||||||
Year Ended 2/28/2023 | $20.51 | 0.02 | (3.35) | (3.33) | (2.58) | (2.58) |
Year Ended 2/28/2022 | $27.08 | (0.04) | 1.69 | 1.65 | (8.22) | (8.22) |
Year Ended 2/28/2021 | $20.07 | 0.02 | 9.79 | 9.81 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $19.26 | 0.02 | 2.61 | 2.63 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $20.27 | 0.02 | 0.85 | 0.87 | (1.88) | (1.88) |
Class C | ||||||
Year Ended 2/28/2023 | $7.02 | (0.03) | (1.24) | (1.27) | (2.58) | (2.58) |
Year Ended 2/28/2022 | $13.72 | (0.14) | 1.24 | 1.10 | (7.80) | (7.80) |
Year Ended 2/28/2021 | $11.35 | (0.11) | 5.28 | 5.17 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $11.70 | (0.11) | 1.58 | 1.47 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $13.14 | (0.12) | 0.53 | 0.41 | (1.85) | (1.85) |
Institutional Class | ||||||
Year Ended 2/28/2023 | $19.45 | 0.02 | (3.18) | (3.16) | (2.58) | (2.58) |
Year Ended 2/28/2022 | $26.05 | (0.03) | 1.65 | 1.62 | (8.22) | (8.22) |
Year Ended 2/28/2021 | $19.39 | 0.02 | 9.44 | 9.46 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $18.66 | 0.02 | 2.53 | 2.55 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $19.70 | 0.02 | 0.82 | 0.84 | (1.88) | (1.88) |
Institutional 2 Class | ||||||
Year Ended 2/28/2023 | $20.90 | 0.03 | (3.41) | (3.38) | (2.58) | (2.58) |
Year Ended 2/28/2022 | $27.46 | (0.02) | 1.70 | 1.68 | (8.24) | (8.24) |
Year Ended 2/28/2021 | $20.31 | 0.04 | 9.91 | 9.95 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $19.46 | 0.03 | 2.64 | 2.67 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $20.45 | 0.03 | 0.86 | 0.89 | (1.88) | (1.88) |
16 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $11.39 | (15.76%) | 1.12%(c) | 1.05%(c),(d) | (0.13%) | 74% | $766,362 |
Year Ended 2/28/2022 | $16.74 | 2.77% | 1.08%(c) | 1.04%(c),(d) | (0.38%) | 93% | $1,094,509 |
Year Ended 2/28/2021 | $23.37 | 50.88% | 1.11%(c) | 1.04%(c),(d) | (0.15%) | 44% | $1,197,121 |
Year Ended 2/29/2020 | $17.67 | 13.54% | 1.12% | 1.04%(d) | (0.16%) | 42% | $913,905 |
Year Ended 2/28/2019 | $17.18 | 4.19% | 1.12% | 1.08%(d) | (0.16%) | 23% | $929,808 |
Advisor Class | |||||||
Year Ended 2/28/2023 | $14.60 | (15.58%) | 0.87%(c) | 0.80%(c),(d) | 0.12% | 74% | $16,269 |
Year Ended 2/28/2022 | $20.51 | 3.00% | 0.83%(c) | 0.79%(c),(d) | (0.13%) | 93% | $22,974 |
Year Ended 2/28/2021 | $27.08 | 51.34% | 0.86%(c) | 0.79%(c),(d) | 0.10% | 44% | $24,768 |
Year Ended 2/29/2020 | $20.07 | 13.75% | 0.87% | 0.79%(d) | 0.09% | 42% | $17,809 |
Year Ended 2/28/2019 | $19.26 | 4.53% | 0.87% | 0.83%(d) | 0.09% | 23% | $26,286 |
Class C | |||||||
Year Ended 2/28/2023 | $3.17 | (16.43%) | 1.86%(c) | 1.80%(c),(d) | (0.89%) | 74% | $7,715 |
Year Ended 2/28/2022 | $7.02 | 1.97% | 1.83%(c) | 1.79%(c),(d) | (1.14%) | 93% | $14,135 |
Year Ended 2/28/2021 | $13.72 | 49.77% | 1.86%(c) | 1.79%(c),(d) | (0.90%) | 44% | $29,863 |
Year Ended 2/29/2020 | $11.35 | 12.66% | 1.87% | 1.80%(d) | (0.91%) | 42% | $37,004 |
Year Ended 2/28/2019 | $11.70 | 3.46% | 1.86% | 1.84%(d) | (0.96%) | 23% | $57,316 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $13.71 | (15.55%) | 0.86%(c) | 0.80%(c),(d) | 0.12% | 74% | $282,203 |
Year Ended 2/28/2022 | $19.45 | 2.99% | 0.83%(c) | 0.79%(c),(d) | (0.14%) | 93% | $468,670 |
Year Ended 2/28/2021 | $26.05 | 51.34% | 0.86%(c) | 0.79%(c),(d) | 0.10% | 44% | $536,602 |
Year Ended 2/29/2020 | $19.39 | 13.76% | 0.87% | 0.79%(d) | 0.09% | 42% | $410,156 |
Year Ended 2/28/2019 | $18.66 | 4.51% | 0.87% | 0.83%(d) | 0.09% | 23% | $472,922 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $14.94 | (15.51%) | 0.81%(c) | 0.74%(c) | 0.18% | 74% | $20,199 |
Year Ended 2/28/2022 | $20.90 | 3.09% | 0.77%(c) | 0.74%(c) | (0.08%) | 93% | $31,012 |
Year Ended 2/28/2021 | $27.46 | 51.43% | 0.79%(c) | 0.73%(c) | 0.15% | 44% | $34,108 |
Year Ended 2/29/2020 | $20.31 | 13.81% | 0.80% | 0.73% | 0.16% | 42% | $19,798 |
Year Ended 2/28/2019 | $19.46 | 4.60% | 0.80% | 0.76% | 0.17% | 23% | $12,349 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 17 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Year Ended 2/28/2023 | $19.67 | 0.04 | (3.23) | (3.19) | (2.58) | (2.58) |
Year Ended 2/28/2022 | $26.27 | (0.01) | 1.67 | 1.66 | (8.26) | (8.26) |
Year Ended 2/28/2021 | $19.52 | 0.05 | 9.50 | 9.55 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $18.75 | 0.04 | 2.55 | 2.59 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $19.77 | 0.04 | 0.82 | 0.86 | (1.88) | (1.88) |
Class R | ||||||
Year Ended 2/28/2023 | $16.85 | (0.05) | (2.77) | (2.82) | (2.58) | (2.58) |
Year Ended 2/28/2022 | $23.44 | (0.15) | 1.57 | 1.42 | (8.01) | (8.01) |
Year Ended 2/28/2021 | $17.75 | (0.08) | 8.57 | 8.49 | (2.80) | (2.80) |
Year Ended 2/29/2020 | $17.30 | (0.07) | 2.34 | 2.27 | (1.82) | (1.82) |
Year Ended 2/28/2019 | $18.47 | (0.07) | 0.76 | 0.69 | (1.86) | (1.86) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interfund lending expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
18 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $13.90 | (15.52%) | 0.77%(c) | 0.70%(c) | 0.24% | 74% | $993 |
Year Ended 2/28/2022 | $19.67 | 3.14% | 0.73%(c) | 0.69%(c) | (0.03%) | 93% | $1,406 |
Year Ended 2/28/2021 | $26.27 | 51.47% | 0.75%(c) | 0.69%(c) | 0.20% | 44% | $1,618 |
Year Ended 2/29/2020 | $19.52 | 13.91% | 0.76% | 0.69% | 0.20% | 42% | $875 |
Year Ended 2/28/2019 | $18.75 | 4.61% | 0.77% | 0.71% | 0.24% | 23% | $780 |
Class R | |||||||
Year Ended 2/28/2023 | $11.45 | (15.98%) | 1.37%(c) | 1.30%(c),(d) | (0.38%) | 74% | $14,256 |
Year Ended 2/28/2022 | $16.85 | 2.50% | 1.33%(c) | 1.29%(c),(d) | (0.64%) | 93% | $20,484 |
Year Ended 2/28/2021 | $23.44 | 50.57% | 1.36%(c) | 1.29%(c),(d) | (0.40%) | 44% | $24,892 |
Year Ended 2/29/2020 | $17.75 | 13.20% | 1.37% | 1.30%(d) | (0.41%) | 42% | $21,006 |
Year Ended 2/28/2019 | $17.30 | 4.00% | 1.37% | 1.33%(d) | (0.41%) | 23% | $24,324 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 19 |
February 28, 2023
20 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 21 |
February 28, 2023
22 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 23 |
February 28, 2023
Effective rate (%) | |
Class A | 0.11 |
Advisor Class | 0.11 |
Class C | 0.11 |
Institutional Class | 0.11 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.11 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 59,670 |
Class C | — | 1.00(b) | 86 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
24 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
February 28, 2023
July 1, 2022 through June 30, 2023 | Prior to July 1, 2022 | |
Class A | 1.05% | 1.05% |
Advisor Class | 0.80 | 0.80 |
Class C | 1.80 | 1.80 |
Institutional Class | 0.80 | 0.80 |
Institutional 2 Class | 0.74 | 0.75 |
Institutional 3 Class | 0.70 | 0.70 |
Class R | 1.30 | 1.30 |
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
1,256,106 | 271,334 | (1,527,440) |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 25 |
February 28, 2023
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
— | 231,465,937 | 231,465,937 | 126,375,304 | 499,851,889 | 626,227,193 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | — | (31,446,349) | 10,408,470 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,098,241,058 | 109,549,827 | (99,141,357) | 10,408,470 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(31,446,349) | — | (31,446,349) | — |
Late year ordinary losses ($) | Post-October capital losses ($) |
412,764 | — |
26 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 550,000 | 3.85 | 2 |
Lender | 5,000,000 | 1.93 | 3 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 27 |
February 28, 2023
28 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 29 |
30 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 31 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
32 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 33 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
34 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
(Unaudited)
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 | 35 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
36 | Columbia Large Cap Growth Opportunity Fund | Annual Report 2023 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgacb4b0502.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img8f4e77bf1.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img516f8c662.jpg)
3 | |
5 | |
7 | |
8 | |
18 | |
19 | |
20 | |
22 | |
26 | |
37 | |
38 | |
38 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img367903493.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 05/31/00 | -1.05 | 8.07 | 10.16 | |
Institutional Class | 03/31/00 | -0.80 | 8.35 | 10.43 | |
Institutional 2 Class | 11/08/12 | -0.84 | 8.35 | 10.44 | |
Institutional 3 Class* | 03/01/17 | -0.82 | 8.35 | 10.43 | |
S&P MidCap 400 Index | -0.62 | 8.58 | 10.67 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Mid Cap Index Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgbdbff3054.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 99.5 |
Money Market Funds | 0.5 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 2.1 |
Consumer Discretionary | 14.4 |
Consumer Staples | 3.8 |
Energy | 3.5 |
Financials | 15.3 |
Health Care | 9.2 |
Industrials | 20.6 |
Information Technology | 12.7 |
Materials | 6.8 |
Real Estate | 8.0 |
Utilities | 3.6 |
Total | 100.0 |
4 | Columbia Mid Cap Index Fund | Annual Report 2023 |
(Unaudited)
• | Real estate, health care and communication services were the weakest sectors in terms of total return. |
• | On the basis of impact, real estate, health care and information technology were the weakest sectors. |
• | The worst performing industries for the annual period on the basis of total return were airlines; air freight and logistics; communications equipment; real estate management and development; and media. |
• | Top individual detractors included healthcare facility real estate investment trust Medical Properties Trust, Inc.; aluminum producer Alcoa Corp.; diabetes-focused medical device company Tandem Diabetes Care, Inc.; human interface hardware and software developer Synaptics Inc.; and integrated biopharmaceutical solutions company Syneos Health, Inc. Class A. |
• | In terms of total return, energy was the best relative performer, followed at some distance by materials and industrials. |
• | On the basis of impact, which takes weighting and total returns into account, industrials, financials and materials were the biggest contributors to the Index’s return. |
• | The top performing industries on the basis of total return were diversified telecommunication services; entertainment; energy equipment and services; construction and engineering; and insurance. |
• | Top individual contributors within the Index during the annual period included steel producer and metal recycler Steel Dynamics, Inc.; data analytics company Fair Isaac Corp.; conducted energy devices developer and manufacturer Axon Enterprise Inc.; biotechnology company United Therapeutics Corp.; and electrical and electronic products manufacturer Hubbell Inc. |
Columbia Mid Cap Index Fund | Annual Report 2023 | 5 |
(Unaudited)
6 | Columbia Mid Cap Index Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,076.50 | 1,022.56 | 2.32 | 2.26 | 0.45 |
Institutional Class | 1,000.00 | 1,000.00 | 1,077.80 | 1,023.80 | 1.03 | 1.00 | 0.20 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,077.40 | 1,023.80 | 1.03 | 1.00 | 0.20 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,077.70 | 1,023.80 | 1.03 | 1.00 | 0.20 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 98.7% | ||
Issuer | Shares | Value ($) |
Communication Services 2.1% | ||
Diversified Telecommunication Services 0.6% | ||
Frontier Communications Parent, Inc.(a) | 258,499 | 7,072,533 |
Iridium Communications, Inc.(a) | 145,674 | 8,940,013 |
Total | 16,012,546 | |
Entertainment 0.2% | ||
World Wrestling Entertainment, Inc., Class A | 50,203 | 4,217,052 |
Interactive Media & Services 0.3% | ||
TripAdvisor, Inc.(a) | 121,490 | 2,620,539 |
Ziff Davis, Inc.(a) | 54,716 | 4,321,470 |
Total | 6,942,009 | |
Media 1.0% | ||
Cable One, Inc. | 5,590 | 3,860,510 |
John Wiley & Sons, Inc., Class A | 49,785 | 2,214,935 |
New York Times Co. (The), Class A | 190,885 | 7,349,072 |
Nexstar Media Group, Inc., Class A | 43,720 | 8,127,548 |
TEGNA, Inc. | 258,681 | 4,501,049 |
Total | 26,053,114 | |
Total Communication Services | 53,224,721 | |
Consumer Discretionary 14.2% | ||
Auto Components 1.5% | ||
Adient PLC(a) | 109,930 | 4,696,210 |
Dana, Inc. | 147,925 | 2,343,132 |
Fox Factory Holding Corp.(a) | 49,006 | 5,758,205 |
Gentex Corp. | 271,981 | 7,765,058 |
Goodyear Tire & Rubber Co. (The)(a) | 327,957 | 3,725,591 |
Lear Corp. | 68,529 | 9,570,075 |
Visteon Corp.(a) | 32,630 | 5,450,515 |
Total | 39,308,786 | |
Automobiles 0.5% | ||
Harley-Davidson, Inc. | 154,236 | 7,333,922 |
Thor Industries, Inc. | 62,240 | 5,663,217 |
Total | 12,997,139 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Diversified Consumer Services 1.0% | ||
Graham Holdings Co., Class B | 4,450 | 2,788,637 |
Grand Canyon Education, Inc.(a) | 35,561 | 4,028,706 |
H&R Block, Inc. | 180,254 | 6,633,347 |
Service Corp. International | 178,327 | 12,042,422 |
Total | 25,493,112 | |
Hotels, Restaurants & Leisure 2.9% | ||
Boyd Gaming Corp. | 91,972 | 5,990,136 |
Choice Hotels International, Inc. | 32,134 | 3,803,380 |
Churchill Downs, Inc. | 38,162 | 9,379,456 |
Cracker Barrel Old Country Store, Inc. | 25,702 | 2,800,490 |
Light & Wonder, Inc.(a) | 108,608 | 6,799,947 |
Marriott Vacations Worldwide Corp. | 44,429 | 6,797,193 |
Papa John’s International, Inc. | 37,274 | 3,129,152 |
Penn Entertainment, Inc.(a) | 179,848 | 5,490,760 |
Texas Roadhouse, Inc. | 77,583 | 7,877,778 |
Travel + Leisure Co. | 94,239 | 3,953,326 |
Wendy’s Co. (The) | 197,591 | 4,339,098 |
Wingstop, Inc. | 34,685 | 5,908,590 |
Wyndham Hotels & Resorts, Inc. | 102,405 | 7,887,233 |
Total | 74,156,539 | |
Household Durables 1.5% | ||
Helen of Troy Ltd.(a) | 27,815 | 3,134,472 |
KB Home | 96,302 | 3,396,571 |
Leggett & Platt, Inc. | 153,713 | 5,301,561 |
Taylor Morrison Home Corp., Class A(a) | 125,620 | 4,500,965 |
Tempur Sealy International, Inc. | 198,244 | 8,472,949 |
Toll Brothers, Inc. | 122,200 | 7,324,668 |
TopBuild Corp.(a) | 37,069 | 7,695,154 |
Total | 39,826,340 |
8 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Leisure Products 1.2% | ||
Brunswick Corp. | 84,067 | 7,349,137 |
Mattel, Inc.(a) | 410,903 | 7,392,145 |
Polaris, Inc. | 63,167 | 7,185,246 |
Topgolf Callaway Brands Corp.(a) | 160,738 | 3,725,907 |
YETI Holdings, Inc.(a) | 99,998 | 3,897,922 |
Total | 29,550,357 | |
Multiline Retail 0.6% | ||
Kohl’s Corp. | 135,233 | 3,791,933 |
Macy’s, Inc. | 314,194 | 6,428,409 |
Nordstrom, Inc. | 129,151 | 2,515,862 |
Ollie’s Bargain Outlet Holdings, Inc.(a) | 67,489 | 3,883,317 |
Total | 16,619,521 | |
Specialty Retail 2.9% | ||
AutoNation, Inc.(a) | 39,658 | 5,413,714 |
Dick’s Sporting Goods, Inc. | 64,468 | 8,292,519 |
Five Below, Inc.(a) | 64,356 | 13,147,931 |
Foot Locker, Inc. | 91,950 | 4,020,054 |
GameStop Corp., Class A(a) | 293,057 | 5,635,486 |
Gap, Inc. (The) | 244,575 | 3,181,921 |
Lithia Motors, Inc., Class A | 31,696 | 8,088,185 |
Murphy U.S.A., Inc. | 24,100 | 6,147,669 |
Restoration Hardware Holdings, Inc.(a) | 22,282 | 6,662,987 |
Victoria’s Secret & Co.(a) | 94,199 | 3,734,048 |
Williams-Sonoma, Inc. | 77,347 | 9,662,187 |
Total | 73,986,701 | |
Textiles, Apparel & Luxury Goods 2.1% | ||
Capri Holdings Ltd.(a) | 149,326 | 7,402,090 |
Carter’s, Inc. | 44,246 | 3,335,706 |
Columbia Sportswear Co. | 41,049 | 3,579,473 |
Crocs, Inc.(a) | 71,589 | 8,713,097 |
Deckers Outdoor Corp.(a) | 30,687 | 12,776,532 |
Hanesbrands, Inc. | 404,581 | 2,298,020 |
PVH Corp. | 75,619 | 6,067,669 |
Skechers U.S.A., Inc., Class A(a) | 155,609 | 6,926,157 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Under Armour, Inc., Class A(a) | 218,771 | 2,172,396 |
Under Armour, Inc., Class C(a) | 228,435 | 2,010,228 |
Total | 55,281,368 | |
Total Consumer Discretionary | 367,219,863 | |
Consumer Staples 3.7% | ||
Beverages 0.4% | ||
Boston Beer Co., Inc. (The), Class A(a) | 10,929 | 3,538,810 |
Celsius Holdings, Inc.(a) | 46,840 | 4,253,072 |
Coca-Cola Bottling Co. Consolidated | 5,337 | 2,971,909 |
Total | 10,763,791 | |
Food & Staples Retailing 1.4% | ||
BJ’s Wholesale Club Holdings, Inc.(a) | 156,603 | 11,244,096 |
Casey’s General Stores, Inc. | 43,194 | 8,982,192 |
Grocery Outlet Holding Corp.(a) | 102,637 | 2,776,331 |
Performance Food Group, Inc.(a) | 180,492 | 10,214,042 |
Sprouts Farmers Market, Inc.(a) | 122,728 | 3,717,431 |
Total | 36,934,092 | |
Food Products 1.4% | ||
Darling Ingredients, Inc.(a) | 185,823 | 11,757,021 |
Flowers Foods, Inc. | 222,762 | 6,210,605 |
Ingredion, Inc. | 76,006 | 7,554,996 |
Lancaster Colony Corp. | 23,001 | 4,415,732 |
Pilgrim’s Pride Corp.(a) | 52,092 | 1,218,432 |
Post Holdings, Inc.(a) | 63,049 | 5,671,888 |
Total | 36,828,674 | |
Household Products 0.1% | ||
Energizer Holdings, Inc. | 76,832 | 2,783,623 |
Personal Products 0.4% | ||
BellRing Brands, Inc.(a) | 157,037 | 4,849,303 |
Coty, Inc., Class A(a) | 423,827 | 4,789,245 |
Total | 9,638,548 | |
Total Consumer Staples | 96,948,728 | |
Energy 3.5% | ||
Energy Equipment & Services 0.7% | ||
ChampionX Corp. | 231,143 | 7,066,041 |
NOV, Inc. | 455,429 | 9,964,787 |
Total | 17,030,828 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 9 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Oil, Gas & Consumable Fuels 2.8% | ||
Antero Midstream Corp. | 388,338 | 4,093,083 |
Antero Resources Corp.(a) | 320,147 | 8,387,851 |
CNX Resources Corp.(a) | 209,250 | 3,211,988 |
DT Midstream, Inc. | 112,176 | 5,631,235 |
Equitrans Midstream Corp. | 501,778 | 3,025,721 |
HF Sinclair Corp. | 155,931 | 7,752,889 |
Matador Resources Co. | 130,150 | 7,000,769 |
Murphy Oil Corp. | 169,424 | 6,610,925 |
PBF Energy, Inc., Class A | 132,516 | 5,792,274 |
PDC Energy, Inc. | 106,835 | 7,169,697 |
Range Resources Corp. | 280,159 | 7,547,483 |
Southwestern Energy Co.(a) | 1,279,520 | 6,781,456 |
Total | 73,005,371 | |
Total Energy | 90,036,199 | |
Financials 15.1% | ||
Banks 7.1% | ||
Associated Banc-Corp. | 174,331 | 4,035,763 |
Bank of Hawaii Corp. | 46,392 | 3,472,905 |
Bank OZK | 128,344 | 5,907,674 |
Cadence Bank | 211,532 | 5,618,290 |
Cathay General Bancorp | 86,278 | 3,703,052 |
Columbia Banking System, Inc. | 241,120 | 7,168,498 |
Commerce Bancshares, Inc. | 132,223 | 8,746,551 |
Cullen/Frost Bankers, Inc. | 74,550 | 9,827,181 |
East West Bancorp, Inc. | 163,418 | 12,454,086 |
First Financial Bankshares, Inc. | 150,499 | 5,520,303 |
First Horizon Corp. | 622,160 | 15,410,903 |
FNB Corp. | 406,709 | 5,803,737 |
Fulton Financial Corp. | 194,197 | 3,340,188 |
Glacier Bancorp, Inc. | 128,426 | 6,084,824 |
Hancock Whitney Corp. | 99,355 | 4,880,318 |
Home Bancshares, Inc. | 219,935 | 5,300,434 |
International Bancshares Corp. | 61,214 | 2,970,715 |
Old National Bancorp | 339,585 | 6,000,467 |
PacWest Bancorp | 136,590 | 3,790,373 |
Pinnacle Financial Partners, Inc. | 88,644 | 6,567,634 |
Prosperity Bancshares, Inc. | 105,866 | 7,780,092 |
Synovus Financial Corp. | 168,648 | 7,051,173 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Texas Capital Bancshares, Inc.(a) | 57,854 | 3,831,670 |
UMB Financial Corp. | 50,413 | 4,570,443 |
United Bankshares, Inc. | 156,127 | 6,365,298 |
Valley National Bancorp | 487,280 | 5,642,702 |
Washington Federal, Inc. | 75,745 | 2,656,377 |
Webster Financial Corp. | 201,751 | 10,717,013 |
Wintrust Financial Corp. | 70,453 | 6,490,835 |
Total | 181,709,499 | |
Capital Markets 2.1% | ||
Affiliated Managers Group, Inc. | 43,674 | 6,962,072 |
Evercore, Inc., Class A | 41,427 | 5,434,394 |
Federated Hermes, Inc., Class B | 98,014 | 3,856,851 |
Interactive Brokers Group, Inc., Class A | 119,273 | 10,270,598 |
Janus Henderson Group PLC | 153,655 | 4,219,366 |
Jefferies Financial Group, Inc. | 212,398 | 8,026,520 |
SEI Investments Co. | 118,806 | 7,158,062 |
Stifel Financial Corp. | 123,225 | 8,235,127 |
Total | 54,162,990 | |
Consumer Finance 0.4% | ||
FirstCash Holdings, Inc. | 43,499 | 3,838,787 |
Navient Corp. | 122,643 | 2,213,706 |
SLM Corp. | 290,085 | 4,171,422 |
Total | 10,223,915 | |
Diversified Financial Services 0.3% | ||
Voya Financial, Inc. | 112,665 | 8,392,416 |
Insurance 4.1% | ||
American Financial Group, Inc. | 80,949 | 10,856,070 |
Brighthouse Financial, Inc.(a) | 80,151 | 4,635,132 |
CNO Financial Group, Inc. | 132,642 | 3,398,288 |
First American Financial Corp. | 120,049 | 6,816,382 |
Hanover Insurance Group, Inc. (The) | 41,232 | 5,751,039 |
Kemper Corp. | 74,070 | 4,562,712 |
Kinsale Capital Group, Inc. | 24,985 | 7,962,720 |
Old Republic International Corp. | 328,121 | 8,652,551 |
Primerica, Inc. | 42,781 | 8,211,385 |
Reinsurance Group of America, Inc. | 77,491 | 11,195,125 |
RenaissanceRe Holdings Ltd. | 50,669 | 10,888,768 |
RLI Corp. | 46,825 | 6,457,636 |
10 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Selective Insurance Group, Inc. | 69,884 | 7,095,323 |
Unum Group | 216,818 | 9,659,242 |
Total | 106,142,373 | |
Mortgage Real Estate Investment Trusts (REITS) 0.4% | ||
Annaly Capital Management, Inc. | 542,456 | 11,217,990 |
Thrifts & Mortgage Finance 0.7% | ||
Essent Group Ltd. | 124,878 | 5,363,510 |
MGIC Investment Corp. | 344,379 | 4,738,655 |
New York Community Bancorp, Inc. | 788,746 | 7,004,065 |
Total | 17,106,230 | |
Total Financials | 388,955,413 | |
Health Care 9.1% | ||
Biotechnology 1.6% | ||
Arrowhead Pharmaceuticals, Inc.(a) | 122,724 | 3,963,985 |
Exelixis, Inc.(a) | 373,986 | 6,387,681 |
Halozyme Therapeutics, Inc.(a) | 156,770 | 7,523,392 |
Neurocrine Biosciences, Inc.(a) | 111,460 | 11,491,526 |
United Therapeutics Corp.(a) | 52,843 | 13,001,492 |
Total | 42,368,076 | |
Health Care Equipment & Supplies 3.4% | ||
Enovis Corp.(a) | 55,247 | 3,183,332 |
Envista Holdings Corp.(a) | 189,039 | 7,308,248 |
Globus Medical, Inc., Class A(a) | 89,754 | 5,236,248 |
Haemonetics Corp.(a) | 58,676 | 4,563,233 |
ICU Medical, Inc.(a) | 23,357 | 3,985,638 |
Inari Medical, Inc.(a) | 55,986 | 3,149,772 |
Integra LifeSciences Holdings Corp.(a) | 84,245 | 4,685,707 |
Lantheus Holdings, Inc.(a) | 79,806 | 5,902,452 |
LivaNova PLC(a) | 62,056 | 2,936,490 |
Masimo Corp.(a) | 56,070 | 9,381,072 |
Neogen Corp.(a) | 250,562 | 4,432,442 |
Omnicell, Inc.(a) | 51,768 | 2,818,250 |
Penumbra, Inc.(a) | 44,034 | 11,448,400 |
QuidelOrtho Corp.(a) | 62,025 | 5,392,453 |
Shockwave Medical, Inc.(a) | 41,904 | 7,971,817 |
STAAR Surgical Co.(a) | 55,891 | 3,095,802 |
Tandem Diabetes Care, Inc.(a) | 74,550 | 2,673,363 |
Total | 88,164,719 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care Providers & Services 2.1% | ||
Acadia Healthcare Co., Inc.(a) | 105,481 | 7,648,427 |
Amedisys, Inc.(a) | 37,672 | 3,463,941 |
Chemed Corp. | 17,241 | 8,992,561 |
Encompass Health Corp. | 115,697 | 6,539,195 |
HealthEquity, Inc.(a) | 98,008 | 6,387,181 |
Option Care Health, Inc.(a) | 179,266 | 5,498,088 |
Patterson Companies, Inc. | 100,439 | 2,663,642 |
Progyny, Inc.(a) | 87,230 | 3,276,359 |
R1 RCM, Inc.(a) | 159,362 | 2,262,940 |
Tenet Healthcare Corp.(a) | 125,361 | 7,337,379 |
Total | 54,069,713 | |
Life Sciences Tools & Services 1.4% | ||
Azenta, Inc.(a) | 86,980 | 3,817,552 |
Bruker Corp. | 115,962 | 7,992,101 |
Medpace Holdings, Inc.(a) | 29,207 | 5,662,653 |
Repligen Corp.(a) | 59,870 | 10,439,532 |
Sotera Health Co.(a) | 114,481 | 1,910,688 |
Syneos Health, Inc.(a) | 119,310 | 4,798,648 |
Total | 34,621,174 | |
Pharmaceuticals 0.6% | ||
Jazz Pharmaceuticals PLC(a) | 73,005 | 10,249,902 |
Perrigo Co. PLC | 156,105 | 5,883,598 |
Total | 16,133,500 | |
Total Health Care | 235,357,182 | |
Industrials 20.3% | ||
Aerospace & Defense 1.6% | ||
Axon Enterprise, Inc.(a) | 78,385 | 15,701,299 |
Curtiss-Wright Corp. | 44,415 | 7,763,298 |
Hexcel Corp. | 97,590 | 7,119,191 |
Mercury Systems, Inc.(a) | 67,226 | 3,518,609 |
Woodward, Inc. | 69,756 | 6,905,844 |
Total | 41,008,241 | |
Air Freight & Logistics 0.3% | ||
GXO Logistics, Inc.(a) | 137,553 | 6,818,502 |
Airlines 0.1% | ||
JetBlue Airways Corp.(a) | 375,513 | 3,116,758 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 11 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Building Products 3.0% | ||
Builders FirstSource, Inc.(a) | 170,640 | 14,466,859 |
Carlisle Companies, Inc. | 59,961 | 15,483,129 |
Fortune Brands Innovations, Inc. | 148,688 | 9,211,222 |
Lennox International, Inc. | 37,391 | 9,528,349 |
Owens Corning | 108,355 | 10,596,035 |
Simpson Manufacturing Co., Inc. | 49,389 | 5,327,098 |
Trex Company, Inc.(a) | 127,233 | 6,505,423 |
UFP Industries, Inc. | 71,465 | 6,112,401 |
Total | 77,230,516 | |
Commercial Services & Supplies 1.4% | ||
Brink’s Co. (The) | 53,855 | 3,514,039 |
Clean Harbors, Inc.(a) | 58,306 | 7,700,473 |
IAA, Inc.(a) | 155,091 | 6,344,773 |
MSA Safety, Inc. | 42,720 | 5,739,432 |
Stericycle, Inc.(a) | 106,881 | 5,096,086 |
Tetra Tech, Inc. | 61,428 | 8,408,879 |
Total | 36,803,682 | |
Construction & Engineering 2.1% | ||
AECOM | 161,914 | 13,982,893 |
Dycom Industries, Inc.(a) | 34,154 | 2,876,108 |
EMCOR Group, Inc. | 55,253 | 9,239,407 |
Fluor Corp.(a) | 164,741 | 6,041,053 |
MasTec, Inc.(a) | 68,362 | 6,680,335 |
MDU Resources Group, Inc. | 235,771 | 7,509,306 |
Valmont Industries, Inc. | 24,734 | 7,848,840 |
Total | 54,177,942 | |
Electrical Equipment 2.2% | ||
Acuity Brands, Inc. | 37,285 | 7,231,798 |
EnerSys | 47,339 | 4,293,174 |
Hubbell, Inc. | 62,268 | 15,662,893 |
nVent Electric PLC | 193,146 | 8,853,813 |
Regal Rexnord Corp. | 76,697 | 12,090,515 |
SunPower Corp.(a) | 98,957 | 1,486,334 |
Sunrun, Inc.(a) | 247,079 | 5,939,779 |
Vicor Corp.(a) | 25,844 | 1,214,668 |
Total | 56,772,974 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Machinery 4.8% | ||
AGCO Corp. | 71,787 | 10,108,327 |
Chart Industries, Inc.(a) | 48,462 | 6,469,677 |
Crane Holdings Co. | 55,331 | 6,627,547 |
Donaldson Co., Inc. | 141,985 | 8,980,551 |
Esab Corp. | 59,903 | 3,513,311 |
Flowserve Corp. | 151,533 | 5,256,680 |
Graco, Inc. | 195,397 | 13,587,907 |
ITT, Inc. | 95,885 | 8,714,988 |
Kennametal, Inc. | 93,422 | 2,646,645 |
Lincoln Electric Holdings, Inc. | 66,943 | 11,241,738 |
Middleby Corp. (The)(a) | 62,475 | 9,714,238 |
Oshkosh Corp. | 75,820 | 6,762,386 |
Terex Corp. | 78,261 | 4,633,834 |
Timken Co. (The) | 76,751 | 6,558,373 |
Toro Co. (The) | 120,816 | 13,342,919 |
Watts Water Technologies, Inc., Class A | 31,635 | 5,543,401 |
Total | 123,702,522 | |
Marine 0.2% | ||
Kirby Corp.(a) | 69,445 | 5,036,846 |
Professional Services 1.8% | ||
ASGN, Inc.(a) | 57,855 | 5,137,524 |
CACI International, Inc., Class A(a) | 27,243 | 7,982,199 |
FTI Consulting, Inc.(a) | 39,911 | 7,332,050 |
Insperity, Inc. | 41,343 | 5,130,253 |
KBR, Inc. | 159,069 | 8,766,292 |
ManpowerGroup, Inc. | 58,617 | 4,975,411 |
Science Applications International Corp. | 63,917 | 6,816,109 |
Total | 46,139,838 | |
Road & Rail 1.8% | ||
Avis Budget Group, Inc.(a) | 28,846 | 6,336,312 |
Knight-Swift Transportation Holdings, Inc. | 186,315 | 10,590,145 |
Landstar System, Inc. | 41,652 | 7,530,265 |
Ryder System, Inc. | 58,262 | 5,704,432 |
Saia, Inc.(a) | 30,681 | 8,310,563 |
Werner Enterprises, Inc. | 68,149 | 3,165,521 |
XPO, Inc.(a) | 133,523 | 4,454,327 |
Total | 46,091,565 |
12 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Trading Companies & Distributors 1.0% | ||
GATX Corp. | 40,812 | 4,452,181 |
MSC Industrial Direct Co., Inc., Class A | 54,748 | 4,627,301 |
Univar, Inc.(a) | 189,180 | 6,574,005 |
Watsco, Inc. | 38,566 | 11,751,446 |
Total | 27,404,933 | |
Total Industrials | 524,304,319 | |
Information Technology 12.5% | ||
Communications Equipment 0.7% | ||
Calix, Inc.(a) | 66,010 | 3,376,412 |
Ciena Corp.(a) | 171,760 | 8,282,267 |
Lumentum Holdings, Inc.(a) | 79,073 | 4,254,918 |
Viasat, Inc.(a) | 87,638 | 2,783,383 |
Total | 18,696,980 | |
Electronic Equipment, Instruments & Components 3.3% | ||
Arrow Electronics, Inc.(a) | 71,314 | 8,414,339 |
Avnet, Inc. | 106,107 | 4,744,044 |
Belden, Inc. | 49,630 | 4,187,779 |
Cognex Corp. | 200,500 | 9,507,710 |
Coherent Corp.(a) | 160,801 | 6,935,347 |
IPG Photonics Corp.(a) | 37,277 | 4,594,018 |
Jabil, Inc. | 156,104 | 12,961,315 |
Littelfuse, Inc. | 28,703 | 7,426,327 |
National Instruments Corp. | 151,385 | 7,646,456 |
Novanta, Inc.(a) | 41,380 | 6,492,936 |
TD SYNNEX Corp. | 48,745 | 4,704,867 |
Vishay Intertechnology, Inc. | 150,225 | 3,189,277 |
Vontier Corp. | 183,181 | 4,793,847 |
Total | 85,598,262 | |
IT Services 2.1% | ||
Concentrix Corp. | 49,123 | 6,721,991 |
Euronet Worldwide, Inc.(a) | 54,626 | 5,946,040 |
ExlService Holdings, Inc.(a) | 38,336 | 6,306,655 |
Genpact Ltd. | 195,476 | 9,330,070 |
Kyndryl Holdings, Inc.(a) | 236,652 | 3,713,070 |
MAXIMUS, Inc. | 70,204 | 5,762,344 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Western Union Co. (The) | 447,737 | 5,802,672 |
WEX, Inc.(a) | 50,543 | 9,745,196 |
Total | 53,328,038 | |
Semiconductors & Semiconductor Equipment 2.9% | ||
Allegro MicroSystems, Inc.(a) | 75,415 | 3,294,127 |
Amkor Technology, Inc. | 116,453 | 2,999,829 |
Cirrus Logic, Inc.(a) | 63,839 | 6,559,457 |
Lattice Semiconductor Corp.(a) | 158,910 | 13,500,994 |
MACOM Technology Solutions Holdings, Inc.(a) | 59,244 | 4,060,584 |
MKS Instruments, Inc. | 66,315 | 6,427,913 |
Power Integrations, Inc. | 66,317 | 5,454,573 |
Silicon Laboratories, Inc.(a) | 38,589 | 6,889,294 |
SiTime Corp.(a) | 18,643 | 2,314,529 |
Synaptics, Inc.(a),(b) | 46,228 | 5,436,875 |
Universal Display Corp. | 50,386 | 6,844,938 |
Wolfspeed, Inc.(a) | 144,016 | 10,654,304 |
Total | 74,437,417 | |
Software 3.2% | ||
ACI Worldwide, Inc.(a) | 130,289 | 3,367,971 |
Aspen Technology, Inc.(a) | 33,673 | 7,139,013 |
Blackbaud, Inc.(a) | 51,712 | 2,879,841 |
CommVault Systems, Inc.(a) | 51,632 | 3,040,092 |
Dynatrace, Inc.(a) | 250,308 | 10,645,599 |
Envestnet, Inc.(a) | 64,146 | 4,009,766 |
Fair Isaac Corp.(a) | 28,958 | 19,615,859 |
Manhattan Associates, Inc.(a) | 72,345 | 10,399,594 |
NCR Corp.(a) | 159,305 | 4,067,057 |
Paylocity Holding Corp.(a) | 47,767 | 9,200,402 |
Qualys, Inc.(a) | 40,080 | 4,735,452 |
Teradata Corp.(a) | 118,030 | 4,810,903 |
Total | 83,911,549 | |
Technology Hardware, Storage & Peripherals 0.3% | ||
Super Micro Computer, Inc.(a) | 53,384 | 5,230,030 |
Xerox Holdings Corp. | 129,895 | 2,141,969 |
Total | 7,371,999 | |
Total Information Technology | 323,344,245 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 13 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Materials 6.7% | ||
Chemicals 2.7% | ||
Ashland, Inc. | 57,749 | 5,877,693 |
Avient Corp. | 99,116 | 4,324,431 |
Cabot Corp. | 65,217 | 5,186,708 |
Chemours Co. LLC (The) | 174,978 | 5,980,748 |
Ingevity Corp.(a) | 40,730 | 3,362,669 |
NewMarket Corp. | 7,897 | 2,712,620 |
Olin Corp. | 147,681 | 8,528,578 |
RPM International, Inc. | 149,681 | 13,266,227 |
Scotts Miracle-Gro Co. (The), Class A | 46,895 | 3,868,837 |
Sensient Technologies Corp. | 48,740 | 3,674,509 |
Valvoline, Inc. | 205,242 | 7,224,518 |
Westlake Corp. | 39,925 | 4,756,664 |
Total | 68,764,202 | |
Construction Materials 0.2% | ||
Eagle Materials, Inc. | 42,719 | 5,994,330 |
Containers & Packaging 0.9% | ||
AptarGroup, Inc. | 75,692 | 8,834,770 |
Greif, Inc., Class A | 29,688 | 2,109,332 |
Silgan Holdings, Inc. | 96,998 | 5,179,693 |
Sonoco Products Co. | 113,058 | 6,677,206 |
Total | 22,801,001 | |
Metals & Mining 2.7% | ||
Alcoa Corp. | 205,146 | 10,039,845 |
Cleveland-Cliffs, Inc.(a) | 597,455 | 12,743,715 |
Commercial Metals Co. | 136,051 | 7,040,639 |
MP Materials Corp.(a) | 107,041 | 3,746,435 |
Reliance Steel & Aluminum Co. | 68,048 | 16,865,016 |
Royal Gold, Inc. | 76,109 | 9,040,988 |
United States Steel Corp. | 271,618 | 8,319,660 |
Worthington Industries, Inc. | 35,158 | 2,124,950 |
Total | 69,921,248 | |
Paper & Forest Products 0.2% | ||
Louisiana-Pacific Corp. | 83,125 | 4,863,644 |
Total Materials | 172,344,425 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate 7.9% | ||
Equity Real Estate Investment Trusts (REITS) 7.5% | ||
Agree Realty Corp. | 102,694 | 7,268,681 |
Apartment Income REIT Corp. | 173,831 | 6,570,812 |
Brixmor Property Group, Inc. | 347,727 | 7,872,539 |
Corporate Office Properties Trust | 130,346 | 3,314,699 |
Cousins Properties, Inc. | 175,577 | 4,299,881 |
CubeSmart | 260,378 | 12,235,162 |
Douglas Emmett, Inc. | 203,815 | 2,879,906 |
EastGroup Properties, Inc. | 50,521 | 8,248,564 |
EPR Properties | 86,981 | 3,552,304 |
First Industrial Realty Trust, Inc. | 153,201 | 8,081,353 |
Healthcare Realty Trust, Inc. | 441,246 | 8,604,297 |
Highwoods Properties, Inc. | 121,970 | 3,232,205 |
Independence Realty Trust, Inc. | 259,527 | 4,694,843 |
JBG SMITH Properties | 114,778 | 1,979,921 |
Kilroy Realty Corp. | 121,959 | 4,392,963 |
Kite Realty Group Trust | 254,029 | 5,517,510 |
Lamar Advertising Co., Class A | 101,175 | 10,578,858 |
Life Storage, Inc. | 98,549 | 11,877,125 |
Macerich Co. (The) | 249,028 | 2,975,885 |
Medical Properties Trust, Inc. | 693,338 | 7,141,381 |
National Retail Properties, Inc. | 207,228 | 9,391,573 |
National Storage Affiliates Trust | 97,977 | 4,144,427 |
Omega Healthcare Investors, Inc. | 271,518 | 7,273,967 |
Park Hotels & Resorts, Inc. | 260,689 | 3,584,474 |
Pebblebrook Hotel Trust | 152,432 | 2,175,205 |
Physicians Realty Trust | 264,652 | 3,924,789 |
PotlatchDeltic Corp. | 93,655 | 4,323,115 |
Rayonier, Inc. | 169,768 | 5,700,809 |
Rexford Industrial Realty, Inc. | 212,747 | 12,862,684 |
Sabra Health Care REIT, Inc. | 267,801 | 3,189,510 |
SL Green Realty Corp. | 74,570 | 2,539,108 |
Spirit Realty Capital, Inc. | 161,926 | 6,668,113 |
Vornado Realty Trust | 186,773 | 3,694,370 |
Total | 194,791,033 | |
Real Estate Management & Development 0.4% | ||
Jones Lang LaSalle, Inc.(a) | 55,030 | 9,600,534 |
Total Real Estate | 204,391,567 |
14 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Utilities 3.6% | ||
Electric Utilities 1.3% | ||
Allete, Inc. | 66,275 | 4,055,367 |
Hawaiian Electric Industries, Inc. | 126,922 | 5,133,995 |
IDACORP, Inc. | 58,623 | 6,061,618 |
OGE Energy Corp. | 232,121 | 8,291,362 |
PNM Resources, Inc. | 99,519 | 4,876,431 |
Portland General Electric Co. | 103,506 | 4,947,587 |
Total | 33,366,360 | |
Gas Utilities 1.3% | ||
National Fuel Gas Co. | 106,062 | 6,075,231 |
New Jersey Resources Corp. | 111,569 | 5,693,366 |
ONE Gas, Inc. | 62,773 | 5,031,884 |
Southwest Gas Holdings, Inc. | 71,540 | 4,507,735 |
Spire, Inc. | 60,862 | 4,284,685 |
UGI Corp. | 242,762 | 9,038,029 |
Total | 34,630,930 | |
Independent Power and Renewable Electricity Producers 0.2% | ||
Ormat Technologies, Inc. | 56,536 | 4,778,423 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Multi-Utilities 0.3% | ||
Black Hills Corp. | 75,453 | 4,633,569 |
NorthWestern Corp. | 66,991 | 3,870,740 |
Total | 8,504,309 | |
Water Utilities 0.5% | ||
Essential Utilities, Inc. | 276,738 | 11,838,852 |
Total Utilities | 93,118,874 | |
Total Common Stocks (Cost $1,657,984,988) | 2,549,245,536 | |
Money Market Funds 0.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(c),(d) | 12,755,939 | 12,750,837 |
Total Money Market Funds (Cost $12,750,829) | 12,750,837 | |
Total Investments in Securities (Cost: $1,670,735,817) | 2,561,996,373 | |
Other Assets & Liabilities, Net | 21,162,731 | |
Net Assets | 2,583,159,104 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P Mid 400 Index E-mini | 134 | 03/2023 | USD | 34,882,880 | 1,127,528 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
38,054,664 | 387,028,612 | (412,331,751) | (688) | 12,750,837 | 2,792 | 577,887 | 12,755,939 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 15 |
February 28, 2023
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 53,224,721 | — | — | 53,224,721 |
Consumer Discretionary | 367,219,863 | — | — | 367,219,863 |
Consumer Staples | 96,948,728 | — | — | 96,948,728 |
Energy | 90,036,199 | — | — | 90,036,199 |
Financials | 388,955,413 | — | — | 388,955,413 |
Health Care | 235,357,182 | — | — | 235,357,182 |
Industrials | 524,304,319 | — | — | 524,304,319 |
Information Technology | 323,344,245 | — | — | 323,344,245 |
Materials | 172,344,425 | — | — | 172,344,425 |
Real Estate | 204,391,567 | — | — | 204,391,567 |
Utilities | 93,118,874 | — | — | 93,118,874 |
Total Common Stocks | 2,549,245,536 | — | — | 2,549,245,536 |
Money Market Funds | 12,750,837 | — | — | 12,750,837 |
Total Investments in Securities | 2,561,996,373 | — | — | 2,561,996,373 |
16 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 1,127,528 | — | — | 1,127,528 |
Total | 2,563,123,901 | — | — | 2,563,123,901 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 17 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,657,984,988) | $2,549,245,536 |
Affiliated issuers (cost $12,750,829) | 12,750,837 |
Receivable for: | |
Investments sold | 27,365,398 |
Capital shares sold | 1,990,359 |
Dividends | 2,055,498 |
Variation margin for futures contracts | 1,541 |
Expense reimbursement due from Investment Manager | 7,629 |
Prepaid expenses | 21,536 |
Total assets | 2,593,438,334 |
Liabilities | |
Payable for: | |
Investments purchased | 7,168,257 |
Capital shares purchased | 2,446,394 |
Variation margin for futures contracts | 33,000 |
Management services fees | 14,183 |
Distribution and/or service fees | 4,483 |
Transfer agent fees | 259,908 |
Compensation of board members | 277,383 |
Compensation of chief compliance officer | 482 |
Other expenses | 75,140 |
Total liabilities | 10,279,230 |
Net assets applicable to outstanding capital stock | $2,583,159,104 |
Represented by | |
Paid in capital | 1,622,012,204 |
Total distributable earnings (loss) | 961,146,900 |
Total - representing net assets applicable to outstanding capital stock | $2,583,159,104 |
Class A | |
Net assets | $653,592,024 |
Shares outstanding | 45,738,222 |
Net asset value per share | $14.29 |
Institutional Class | |
Net assets | $1,017,847,322 |
Shares outstanding | 71,736,941 |
Net asset value per share | $14.19 |
Institutional 2 Class | |
Net assets | $560,860,398 |
Shares outstanding | 38,233,064 |
Net asset value per share | $14.67 |
Institutional 3 Class | |
Net assets | $350,859,360 |
Shares outstanding | 25,452,102 |
Net asset value per share | $13.79 |
18 | Columbia Mid Cap Index Fund | Annual Report 2023 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $40,580,230 |
Dividends — affiliated issuers | 577,887 |
Total income | 41,158,117 |
Expenses: | |
Management services fees | 5,300,635 |
Distribution and/or service fees | |
Class A | 1,671,067 |
Transfer agent fees | |
Class A | 774,227 |
Institutional Class | 1,397,248 |
Institutional 2 Class | 334,923 |
Institutional 3 Class | 15,680 |
Compensation of board members | 40,508 |
Custodian fees | 28,344 |
Printing and postage fees | 92,637 |
Registration fees | 90,732 |
Licensing fees and expenses | 26,243 |
Audit fees | 32,840 |
Legal fees | 48,977 |
Interest on collateral | 843 |
Interest on interfund lending | 15,896 |
Compensation of chief compliance officer | 472 |
Other | 47,498 |
Total expenses | 9,918,770 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (2,930,229) |
Expense reduction | (100) |
Total net expenses | 6,988,441 |
Net investment income | 34,169,676 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 200,097,460 |
Investments — affiliated issuers | 2,792 |
Foreign currency translations | (47) |
Futures contracts | (1,228,424) |
Net realized gain | 198,871,781 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (283,224,739) |
Investments — affiliated issuers | (688) |
Futures contracts | 626,451 |
Net change in unrealized appreciation (depreciation) | (282,598,976) |
Net realized and unrealized loss | (83,727,195) |
Net decrease in net assets resulting from operations | $(49,557,519) |
Columbia Mid Cap Index Fund | Annual Report 2023 | 19 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $34,169,676 | $32,683,259 |
Net realized gain | 198,871,781 | 522,548,847 |
Net change in unrealized appreciation (depreciation) | (282,598,976) | (281,873,024) |
Net increase (decrease) in net assets resulting from operations | (49,557,519) | 273,359,082 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (67,845,982) | (135,070,252) |
Institutional Class | (123,048,739) | (273,707,103) |
Institutional 2 Class | (56,510,896) | (116,221,827) |
Institutional 3 Class | (25,341,723) | (12,289,676) |
Total distributions to shareholders | (272,747,340) | (537,288,858) |
Decrease in net assets from capital stock activity | (102,254,234) | (180,940,391) |
Total decrease in net assets | (424,559,093) | (444,870,167) |
Net assets at beginning of year | 3,007,718,197 | 3,452,588,364 |
Net assets at end of year | $2,583,159,104 | $3,007,718,197 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 8,285,119 | 117,413,509 | 10,500,248 | 189,096,084 |
Distributions reinvested | 3,863,153 | 51,087,516 | 5,983,974 | 104,160,218 |
Redemptions | (14,041,052) | (201,248,860) | (19,766,784) | (360,095,460) |
Net decrease | (1,892,780) | (32,747,835) | (3,282,562) | (66,839,158) |
Institutional Class | ||||
Subscriptions | 11,245,870 | 159,522,185 | 10,884,215 | 193,765,369 |
Distributions reinvested | 7,675,327 | 100,863,138 | 10,834,133 | 187,145,079 |
Redemptions | (42,900,601) | (612,521,876) | (19,167,274) | (347,443,155) |
Net increase (decrease) | (23,979,404) | (352,136,553) | 2,551,074 | 33,467,293 |
Institutional 2 Class | ||||
Subscriptions | 9,264,683 | 134,981,788 | 11,582,940 | 213,043,448 |
Distributions reinvested | 3,136,971 | 42,602,782 | 5,016,559 | 89,542,477 |
Redemptions | (12,595,051) | (185,330,621) | (24,818,436) | (462,546,284) |
Net decrease | (193,397) | (7,746,051) | (8,218,937) | (159,960,359) |
Institutional 3 Class | ||||
Subscriptions | 23,241,193 | 322,049,907 | 1,857,561 | 32,795,913 |
Distributions reinvested | 665,832 | 8,516,067 | 518,830 | 8,757,949 |
Redemptions | (2,931,562) | (40,189,769) | (1,652,664) | (29,162,029) |
Net increase | 20,975,463 | 290,376,205 | 723,727 | 12,391,833 |
Total net decrease | (5,090,118) | (102,254,234) | (8,226,698) | (180,940,391) |
20 | Columbia Mid Cap Index Fund | Annual Report 2023 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $16.13 | 0.16 | (0.50) | (0.34) | (0.16) | (1.34) | (1.50) |
Year Ended 2/28/2022 | $17.72 | 0.14(f) | 1.30 | 1.44 | (0.13) | (2.90) | (3.03) |
Year Ended 2/28/2021 | $14.07 | 0.14 | 5.02 | 5.16 | (0.16) | (1.35) | (1.51) |
Year Ended 2/29/2020 | $15.47 | 0.18 | (0.71) | (0.53) | (0.19) | (0.68) | (0.87) |
Year Ended 2/28/2019 | $16.25 | 0.18 | 0.36 | 0.54 | (0.17) | (1.15) | (1.32) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $16.03 | 0.19 | (0.49) | (0.30) | (0.20) | (1.34) | (1.54) |
Year Ended 2/28/2022 | $17.63 | 0.19(f) | 1.29 | 1.48 | (0.18) | (2.90) | (3.08) |
Year Ended 2/28/2021 | $14.00 | 0.18 | 4.99 | 5.17 | (0.19) | (1.35) | (1.54) |
Year Ended 2/29/2020 | $15.39 | 0.22 | (0.70) | (0.48) | (0.23) | (0.68) | (0.91) |
Year Ended 2/28/2019 | $16.18 | 0.22 | 0.35 | 0.57 | (0.21) | (1.15) | (1.36) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $16.52 | 0.20 | (0.51) | (0.31) | (0.20) | (1.34) | (1.54) |
Year Ended 2/28/2022 | $18.08 | 0.19(f) | 1.33 | 1.52 | (0.18) | (2.90) | (3.08) |
Year Ended 2/28/2021 | $14.32 | 0.18 | 5.12 | 5.30 | (0.19) | (1.35) | (1.54) |
Year Ended 2/29/2020 | $15.73 | 0.22 | (0.72) | (0.50) | (0.23) | (0.68) | (0.91) |
Year Ended 2/28/2019 | $16.50 | 0.22 | 0.37 | 0.59 | (0.21) | (1.15) | (1.36) |
22 | Columbia Mid Cap Index Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $14.29 | (1.05%) | 0.58%(c),(d) | 0.45%(c),(d),(e) | 1.10% | 12% | $653,592 |
Year Ended 2/28/2022 | $16.13 | 7.48% | 0.58%(c),(d) | 0.45%(c),(d),(e) | 0.78% | 16% | $768,487 |
Year Ended 2/28/2021 | $17.72 | 39.13% | 0.58%(d) | 0.45%(d),(e) | 1.01% | 14% | $902,341 |
Year Ended 2/29/2020 | $14.07 | (3.88%) | 0.58%(d) | 0.45%(d),(e) | 1.16% | 14% | $986,055 |
Year Ended 2/28/2019 | $15.47 | 3.66% | 0.58% | 0.45%(e) | 1.08% | 17% | $1,351,153 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $14.19 | (0.80%) | 0.33%(c),(d) | 0.20%(c),(d),(e) | 1.35% | 12% | $1,017,847 |
Year Ended 2/28/2022 | $16.03 | 7.72% | 0.33%(c),(d) | 0.20%(c),(d),(e) | 1.03% | 16% | $1,534,550 |
Year Ended 2/28/2021 | $17.63 | 39.49% | 0.34%(d) | 0.20%(d),(e) | 1.25% | 14% | $1,642,259 |
Year Ended 2/29/2020 | $14.00 | (3.59%) | 0.33%(d) | 0.20%(d),(e) | 1.40% | 14% | $1,579,863 |
Year Ended 2/28/2019 | $15.39 | 3.89% | 0.33% | 0.20%(e) | 1.33% | 17% | $1,979,350 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $14.67 | (0.84%) | 0.28%(c),(d) | 0.20%(c),(d) | 1.35% | 12% | $560,860 |
Year Ended 2/28/2022 | $16.52 | 7.75% | 0.27%(c),(d) | 0.20%(c),(d) | 1.03% | 16% | $634,732 |
Year Ended 2/28/2021 | $18.08 | 39.52% | 0.28%(d) | 0.20%(d) | 1.24% | 14% | $843,249 |
Year Ended 2/29/2020 | $14.32 | (3.65%) | 0.28%(d) | 0.20%(d) | 1.40% | 14% | $663,451 |
Year Ended 2/28/2019 | $15.73 | 3.94% | 0.27% | 0.20% | 1.33% | 17% | $798,386 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 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 | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $15.63 | 0.18 | (0.48) | (0.30) | (0.20) | (1.34) | (1.54) |
Year Ended 2/28/2022 | $17.25 | 0.18(f) | 1.28 | 1.46 | (0.18) | (2.90) | (3.08) |
Year Ended 2/28/2021 | $13.73 | 0.17 | 4.89 | 5.06 | (0.19) | (1.35) | (1.54) |
Year Ended 2/29/2020 | $15.11 | 0.21 | (0.68) | (0.47) | (0.23) | (0.68) | (0.91) |
Year Ended 2/28/2019 | $15.91 | 0.22 | 0.34 | 0.56 | (0.21) | (1.15) | (1.36) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | Net investment income per share includes special dividends. The per share effect of these dividends amounted to: |
Year Ended | Class A | Institutional Class | Institutional 2 Class | Institutional 3 Class |
02/28/2022 | $0.01 | $0.01 | $0.01 | $0.01 |
24 | Columbia Mid Cap Index Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $13.79 | (0.82%) | 0.23%(c),(d) | 0.20%(c),(d) | 1.36% | 12% | $350,859 |
Year Ended 2/28/2022 | $15.63 | 7.78% | 0.22%(c),(d) | 0.20%(c),(d) | 1.04% | 16% | $69,950 |
Year Ended 2/28/2021 | $17.25 | 39.46% | 0.23%(d) | 0.20%(d) | 1.23% | 14% | $64,740 |
Year Ended 2/29/2020 | $13.73 | (3.59%) | 0.23%(d) | 0.20%(d) | 1.41% | 14% | $37,706 |
Year Ended 2/28/2019 | $15.11 | 3.89% | 0.23% | 0.20% | 1.38% | 17% | $25,066 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 25 |
February 28, 2023
26 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Mid Cap Index Fund | Annual Report 2023 | 27 |
February 28, 2023
28 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 1,127,528* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (1,228,424) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 626,451 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 27,554,038 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2023. |
Columbia Mid Cap Index Fund | Annual Report 2023 | 29 |
February 28, 2023
30 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Mid Cap Index Fund | Annual Report 2023 | 31 |
February 28, 2023
Effective rate (%) | |
Class A | 0.12 |
Institutional Class | 0.12 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Fee rate(s) contractual through June 30, 2023 | |
Class A | 0.45% |
Institutional Class | 0.20 |
Institutional 2 Class | 0.20 |
Institutional 3 Class | 0.20 |
32 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(976,946) | (14,808,054) | 15,785,000 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
35,877,721 | 236,869,619 | 272,747,340 | 87,782,065 | 449,506,793 | 537,288,858 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
4,314,835 | 73,281,987 | — | 883,825,297 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,679,298,604 | 1,042,747,247 | (158,921,950) | 883,825,297 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 33 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 43,800,000 | 4.36 | 3 |
34 | Columbia Mid Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Mid Cap Index Fund | Annual Report 2023 | 35 |
February 28, 2023
36 | Columbia Mid Cap Index Fund | Annual Report 2023 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 37 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
90.91% | 88.48% | 9.09% | $208,254,407 |
38 | Columbia Mid Cap Index Fund | Annual Report 2023 |
(Unaudited)
Independent trustees
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Columbia Mid Cap Index Fund | Annual Report 2023 | 39 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
40 | Columbia Mid Cap Index Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Columbia Mid Cap Index Fund | Annual Report 2023 | 41 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
42 | Columbia Mid Cap Index Fund | Annual Report 2023 |
(Unaudited)
The Statement of Additional Information has additional information about the Fund’s Board members and is available, without charge, upon request by calling 800.345.6611, visiting columbiathreadneedleus.com/investor/ or contacting your financial intermediary.
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Columbia Mid Cap Index Fund | Annual Report 2023 | 43 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
44 | Columbia Mid Cap Index Fund | Annual Report 2023 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img516f8c662.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img4c59efd91.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgf2b2491e2.jpg)
3 | |
5 | |
7 | |
8 | |
12 | |
14 | |
15 | |
18 | |
22 | |
32 | |
33 | |
33 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img4b71fd653.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/20/01 | -1.90 | 9.29 | 9.99 |
Including sales charges | -7.57 | 8.01 | 9.34 | ||
Advisor Class | 11/08/12 | -1.57 | 9.57 | 10.27 | |
Class C | Excluding sales charges | 11/20/01 | -2.56 | 8.51 | 9.18 |
Including sales charges | -3.47 | 8.51 | 9.18 | ||
Institutional Class | 11/20/01 | -1.56 | 9.58 | 10.27 | |
Institutional 2 Class | 11/08/12 | -1.47 | 9.71 | 10.41 | |
Institutional 3 Class | 07/15/09 | -1.50 | 9.74 | 10.45 | |
Class R | 01/23/06 | -2.09 | 9.03 | 9.73 | |
Russell Midcap Value Index | -3.42 | 7.27 | 9.62 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img1a6f31954.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 98.0 |
Money Market Funds | 2.0 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 6.1 |
Consumer Discretionary | 10.9 |
Consumer Staples | 3.1 |
Energy | 5.1 |
Financials | 17.5 |
Health Care | 8.4 |
Industrials | 15.1 |
Information Technology | 9.2 |
Materials | 7.6 |
Real Estate | 9.1 |
Utilities | 7.9 |
Total | 100.0 |
4 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
(Unaudited)
• | The Fund’s outperformance of its benchmark during the period was driven by strong stock selection, particularly within the consumer discretionary, real estate, information technology, materials and energy sectors. An underweight to real estate also helped relative results. |
• | Refiner Marathon Petroleum Corp. was the portfolio’s top performer, benefitting from a rise in energy prices and a corresponding increase in earnings during the period. A spike in share buybacks, funded in part by the sale of the company’s Speedway gas station chain, also helped boost investor sentiment. |
• | Specialty materials maker ATI, Inc. rose on positive expectations for growth in key markets, particularly its projected ability to provide titanium for customers in the aerospace, medical and energy industries. |
• | Life and health reinsurer Reinsurance Group of America, Inc. pleased investors with strong earnings growth and increases in premiums and new business amid the rising rate environment. |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 5 |
(Unaudited)
• | Heating and cooling system provider Trane Technologies PLC also delivered strong results during the period as it saw impressive growth in its residential HVAC business and momentum in its commercial business despite headwinds from the lockdowns in China and weather disruptions. |
• | Stock selection within the financials, consumer staples and health care sectors weighed on the Fund’s performance versus its benchmark during the period, as did an overweight to the communications services sector. |
• | Notable individual detractors included Lincoln National Corp. and SVB Financial Group within financials and Syneos Health, Inc. within health care. |
• | Shares in insurance company Lincoln National dropped after it reported quarterly earnings. Results were influenced by a larger-than-expected charge related to an actuarial review that revealed higher persistency in certain life insurance policies. |
• | Shares in SVB Financial, a firm that primarily provides banking services for the technology and life science industries in California, dropped following its quarterly earnings report. The company lowered its forward guidance and has been impacted by lower capital markets activity within the technology and healthcare sectors in light of higher interest rates and an uncertain macro environment. |
• | Contract research organization Syneos Health, which provides clinical trial support to the pharmaceutical and biotechnology industries, dropped following below-expectation results and a decline in clinical bookings owing to the challenging macroeconomic environment. |
6 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,061.10 | 1,019.24 | 5.72 | 5.61 | 1.12 |
Advisor Class | 1,000.00 | 1,000.00 | 1,062.70 | 1,020.48 | 4.45 | 4.36 | 0.87 |
Class C | 1,000.00 | 1,000.00 | 1,058.60 | 1,015.52 | 9.54 | 9.35 | 1.87 |
Institutional Class | 1,000.00 | 1,000.00 | 1,063.00 | 1,020.48 | 4.45 | 4.36 | 0.87 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,064.00 | 1,020.98 | 3.94 | 3.86 | 0.77 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,063.20 | 1,021.17 | 3.73 | 3.66 | 0.73 |
Class R | 1,000.00 | 1,000.00 | 1,061.00 | 1,018.00 | 7.00 | 6.85 | 1.37 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 98.0% | ||
Issuer | Shares | Value ($) |
Communication Services 5.9% | ||
Entertainment 3.9% | ||
Live Nation Entertainment, Inc.(a) | 599,082 | 43,169,849 |
Take-Two Interactive Software, Inc.(a) | 556,002 | 60,910,019 |
Total | 104,079,868 | |
Media 2.0% | ||
Nexstar Media Group, Inc., Class A | 281,527 | 52,335,869 |
Total Communication Services | 156,415,737 | |
Consumer Discretionary 10.7% | ||
Hotels, Restaurants & Leisure 2.5% | ||
Hyatt Hotels Corp., Class A(a) | 556,205 | 64,653,269 |
Household Durables 1.6% | ||
D.R. Horton, Inc. | 468,310 | 43,309,309 |
Multiline Retail 1.4% | ||
Dollar Tree, Inc.(a) | 253,719 | 36,860,296 |
Specialty Retail 3.7% | ||
Burlington Stores, Inc.(a) | 188,941 | 40,480,609 |
O’Reilly Automotive, Inc.(a) | 69,159 | 57,408,886 |
Total | 97,889,495 | |
Textiles, Apparel & Luxury Goods 1.5% | ||
Capri Holdings Ltd.(a) | 804,076 | 39,858,048 |
Total Consumer Discretionary | 282,570,417 | |
Consumer Staples 3.0% | ||
Food & Staples Retailing 1.7% | ||
U.S. Foods Holding Corp.(a) | 1,182,188 | 44,367,516 |
Food Products 1.3% | ||
Tyson Foods, Inc., Class A | 589,541 | 34,924,409 |
Total Consumer Staples | 79,291,925 | |
Energy 5.0% | ||
Oil, Gas & Consumable Fuels 5.0% | ||
Devon Energy Corp. | 1,035,569 | 55,837,881 |
Marathon Petroleum Corp. | 621,255 | 76,787,118 |
Total | 132,624,999 | |
Total Energy | 132,624,999 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Financials 17.1% | ||
Banks 6.7% | ||
Popular, Inc. | 802,942 | 57,330,059 |
Regions Financial Corp. | 2,995,302 | 69,850,443 |
SVB Financial Group(a) | 168,738 | 48,615,105 |
Total | 175,795,607 | |
Consumer Finance 2.5% | ||
Discover Financial Services | 577,491 | 64,678,992 |
Diversified Financial Services 2.4% | ||
Voya Financial, Inc. | 864,299 | 64,381,632 |
Insurance 5.5% | ||
Hanover Insurance Group, Inc. (The) | 407,725 | 56,869,483 |
Lincoln National Corp. | 997,941 | 31,654,689 |
Reinsurance Group of America, Inc. | 395,869 | 57,191,194 |
Total | 145,715,366 | |
Total Financials | 450,571,597 | |
Health Care 8.2% | ||
Health Care Equipment & Supplies 2.2% | ||
Zimmer Biomet Holdings, Inc. | 472,071 | 58,475,435 |
Health Care Providers & Services 3.5% | ||
Centene Corp.(a) | 650,509 | 44,494,815 |
Quest Diagnostics, Inc. | 339,175 | 46,928,253 |
Total | 91,423,068 | |
Life Sciences Tools & Services 2.5% | ||
Agilent Technologies, Inc. | 269,595 | 38,274,402 |
Syneos Health, Inc.(a) | 688,536 | 27,692,918 |
Total | 65,967,320 | |
Total Health Care | 215,865,823 | |
Industrials 14.8% | ||
Airlines 2.0% | ||
Southwest Airlines Co. | 1,543,256 | 51,822,536 |
Building Products 2.9% | ||
Trane Technologies PLC | 408,362 | 75,534,719 |
Electrical Equipment 2.8% | ||
AMETEK, Inc. | 531,178 | 75,193,558 |
8 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Machinery 5.0% | ||
Ingersoll Rand, Inc. | 1,098,570 | 63,793,960 |
ITT, Inc. | 751,111 | 68,268,479 |
Total | 132,062,439 | |
Professional Services 2.1% | ||
CACI International, Inc., Class A(a) | 186,986 | 54,786,898 |
Total Industrials | 389,400,150 | |
Information Technology 9.0% | ||
Communications Equipment 2.3% | ||
Motorola Solutions, Inc. | 227,711 | 59,844,728 |
Electronic Equipment, Instruments & Components 2.2% | ||
Corning, Inc. | 1,698,311 | 57,657,658 |
Semiconductors & Semiconductor Equipment 4.5% | ||
Marvell Technology, Inc. | 797,418 | 36,003,423 |
ON Semiconductor Corp.(a) | 557,536 | 43,158,862 |
Teradyne, Inc. | 403,861 | 40,846,501 |
Total | 120,008,786 | |
Total Information Technology | 237,511,172 | |
Materials 7.5% | ||
Chemicals 3.7% | ||
Chemours Co. LLC (The) | 1,190,504 | 40,691,427 |
FMC Corp. | 435,686 | 56,268,847 |
Total | 96,960,274 | |
Metals & Mining 3.8% | ||
ATI, Inc.(a) | 1,194,887 | 48,572,156 |
Freeport-McMoRan, Inc. | 1,242,069 | 50,887,567 |
Total | 99,459,723 | |
Total Materials | 196,419,997 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate 9.0% | ||
Equity Real Estate Investment Trusts (REITS) 9.0% | ||
First Industrial Realty Trust, Inc. | 1,183,379 | 62,423,242 |
Gaming and Leisure Properties, Inc. | 1,062,064 | 57,224,008 |
Lamar Advertising Co., Class A | 532,235 | 55,650,492 |
Welltower, Inc. | 820,291 | 60,799,969 |
Total | 236,097,711 | |
Total Real Estate | 236,097,711 | |
Utilities 7.8% | ||
Electric Utilities 2.5% | ||
Entergy Corp. | 639,874 | 65,823,838 |
Independent Power and Renewable Electricity Producers 2.4% | ||
AES Corp. (The) | 2,564,216 | 63,284,851 |
Multi-Utilities 2.9% | ||
Ameren Corp. | 904,560 | 74,816,158 |
Total Utilities | 203,924,847 | |
Total Common Stocks (Cost $1,807,567,864) | 2,580,694,375 | |
Money Market Funds 2.0% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(b),(c) | 51,912,469 | 51,891,704 |
Total Money Market Funds (Cost $51,889,198) | 51,891,704 | |
Total Investments in Securities (Cost: $1,859,457,062) | 2,632,586,079 | |
Other Assets & Liabilities, Net | 1,069,510 | |
Net Assets | 2,633,655,589 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 9 |
February 28, 2023
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
89,652,798 | 436,307,832 | (474,075,216) | 6,290 | 51,891,704 | (14,220) | 1,202,885 | 51,912,469 |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 156,415,737 | — | — | 156,415,737 |
Consumer Discretionary | 282,570,417 | — | — | 282,570,417 |
Consumer Staples | 79,291,925 | — | — | 79,291,925 |
Energy | 132,624,999 | — | — | 132,624,999 |
Financials | 450,571,597 | — | — | 450,571,597 |
Health Care | 215,865,823 | — | — | 215,865,823 |
Industrials | 389,400,150 | — | — | 389,400,150 |
10 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Information Technology | 237,511,172 | — | — | 237,511,172 |
Materials | 196,419,997 | — | — | 196,419,997 |
Real Estate | 236,097,711 | — | — | 236,097,711 |
Utilities | 203,924,847 | — | — | 203,924,847 |
Total Common Stocks | 2,580,694,375 | — | — | 2,580,694,375 |
Money Market Funds | 51,891,704 | — | — | 51,891,704 |
Total Investments in Securities | 2,632,586,079 | — | — | 2,632,586,079 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 11 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,807,567,864) | $2,580,694,375 |
Affiliated issuers (cost $51,889,198) | 51,891,704 |
Receivable for: | |
Investments sold | 18,344,854 |
Capital shares sold | 2,983,515 |
Dividends | 3,453,830 |
Expense reimbursement due from Investment Manager | 1,664 |
Prepaid expenses | 17,237 |
Total assets | 2,657,387,179 |
Liabilities | |
Due to custodian | 7,111 |
Payable for: | |
Investments purchased | 21,033,746 |
Capital shares purchased | 1,818,797 |
Management services fees | 52,571 |
Distribution and/or service fees | 7,764 |
Transfer agent fees | 334,263 |
Compensation of board members | 388,173 |
Compensation of chief compliance officer | 495 |
Other expenses | 88,670 |
Total liabilities | 23,731,590 |
Net assets applicable to outstanding capital stock | $2,633,655,589 |
Represented by | |
Paid in capital | 1,890,456,326 |
Total distributable earnings (loss) | 743,199,263 |
Total - representing net assets applicable to outstanding capital stock | $2,633,655,589 |
12 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Class A | |
Net assets | $1,038,459,341 |
Shares outstanding | 83,244,317 |
Net asset value per share | $12.47 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $13.23 |
Advisor Class | |
Net assets | $162,423,171 |
Shares outstanding | 12,398,029 |
Net asset value per share | $13.10 |
Class C | |
Net assets | $10,280,760 |
Shares outstanding | 945,309 |
Net asset value per share | $10.88 |
Institutional Class | |
Net assets | $861,738,983 |
Shares outstanding | 68,792,051 |
Net asset value per share | $12.53 |
Institutional 2 Class | |
Net assets | $123,621,299 |
Shares outstanding | 9,431,844 |
Net asset value per share | $13.11 |
Institutional 3 Class | |
Net assets | $411,996,136 |
Shares outstanding | 33,053,405 |
Net asset value per share | $12.46 |
Class R | |
Net assets | $25,135,899 |
Shares outstanding | 2,027,643 |
Net asset value per share | $12.40 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 13 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $45,833,988 |
Dividends — affiliated issuers | 1,202,885 |
Interfund lending | 1,621 |
Foreign taxes withheld | (163,447) |
Total income | 46,875,047 |
Expenses: | |
Management services fees | 19,004,174 |
Distribution and/or service fees | |
Class A | 2,597,409 |
Class C | 109,865 |
Class R | 124,234 |
Transfer agent fees | |
Class A | 1,490,468 |
Advisor Class | 227,737 |
Class C | 15,755 |
Institutional Class | 1,198,115 |
Institutional 2 Class | 70,722 |
Institutional 3 Class | 29,720 |
Class R | 35,635 |
Compensation of board members | 32,514 |
Custodian fees | 18,283 |
Printing and postage fees | 185,013 |
Registration fees | 165,909 |
Audit fees | 34,090 |
Legal fees | 48,825 |
Compensation of chief compliance officer | 487 |
Other | 46,854 |
Total expenses | 25,435,809 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (468,347) |
Fees waived by transfer agent | |
Institutional 2 Class | (21,790) |
Institutional 3 Class | (29,720) |
Expense reduction | (3,172) |
Total net expenses | 24,912,780 |
Net investment income | 21,962,267 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 27,198,487 |
Investments — affiliated issuers | (14,220) |
Net realized gain | 27,184,267 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (99,249,088) |
Investments — affiliated issuers | 6,290 |
Net change in unrealized appreciation (depreciation) | (99,242,798) |
Net realized and unrealized loss | (72,058,531) |
Net decrease in net assets resulting from operations | $(50,096,264) |
14 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $21,962,267 | $13,442,762 |
Net realized gain | 27,184,267 | 277,010,533 |
Net change in unrealized appreciation (depreciation) | (99,242,798) | 141,071,634 |
Net increase (decrease) in net assets resulting from operations | (50,096,264) | 431,524,929 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (60,644,824) | (95,776,131) |
Advisor Class | (9,187,934) | (13,763,048) |
Class C | (654,947) | (1,171,441) |
Institutional Class | (50,742,128) | (73,036,294) |
Institutional 2 Class | (7,145,935) | (10,768,053) |
Institutional 3 Class | (26,912,614) | (36,507,016) |
Class R | (1,401,414) | (2,487,239) |
Total distributions to shareholders | (156,689,796) | (233,509,222) |
Increase in net assets from capital stock activity | 53,571,293 | 216,032,102 |
Total increase (decrease) in net assets | (153,214,767) | 414,047,809 |
Net assets at beginning of year | 2,786,870,356 | 2,372,822,547 |
Net assets at end of year | $2,633,655,589 | $2,786,870,356 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 15 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 5,195,053 | 63,981,995 | 5,909,633 | 80,584,016 |
Fund reorganization | — | — | 2,451,935 | 32,338,454 |
Distributions reinvested | 5,066,164 | 57,802,157 | 6,609,810 | 90,795,130 |
Redemptions | (11,381,047) | (140,318,782) | (10,825,461) | (147,526,000) |
Net increase (decrease) | (1,119,830) | (18,534,630) | 4,145,917 | 56,191,600 |
Advisor Class | ||||
Subscriptions | 2,511,811 | 32,769,189 | 3,163,318 | 44,985,786 |
Fund reorganization | — | — | 185,751 | 2,564,607 |
Distributions reinvested | 759,516 | 9,107,393 | 949,858 | 13,638,294 |
Redemptions | (3,446,767) | (44,649,389) | (3,445,998) | (49,245,622) |
Net increase (decrease) | (175,440) | (2,772,807) | 852,929 | 11,943,065 |
Class C | ||||
Subscriptions | 287,026 | 3,087,194 | 308,952 | 3,755,602 |
Distributions reinvested | 64,501 | 640,001 | 94,008 | 1,141,080 |
Redemptions | (482,862) | (5,200,739) | (451,667) | (5,490,415) |
Net decrease | (131,335) | (1,473,544) | (48,707) | (593,733) |
Institutional Class | ||||
Subscriptions | 13,997,455 | 175,503,476 | 12,670,719 | 172,324,656 |
Distributions reinvested | 4,118,258 | 47,283,817 | 4,943,198 | 68,113,102 |
Redemptions | (12,714,329) | (156,968,673) | (10,255,528) | (140,960,727) |
Net increase | 5,401,384 | 65,818,620 | 7,358,389 | 99,477,031 |
Institutional 2 Class | ||||
Subscriptions | 3,134,878 | 40,388,087 | 3,076,208 | 43,814,292 |
Distributions reinvested | 555,119 | 6,668,661 | 676,436 | 9,713,445 |
Redemptions | (3,450,263) | (44,231,124) | (2,482,935) | (35,578,309) |
Net increase | 239,734 | 2,825,624 | 1,269,709 | 17,949,428 |
Institutional 3 Class | ||||
Subscriptions | 15,401,716 | 188,114,561 | 11,762,304 | 161,202,450 |
Fund reorganization | — | — | 83,061 | 1,094,384 |
Distributions reinvested | 2,055,574 | 23,449,554 | 2,306,416 | 31,617,245 |
Redemptions | (16,484,200) | (203,313,531) | (11,648,122) | (159,945,955) |
Net increase | 973,090 | 8,250,584 | 2,503,659 | 33,968,124 |
Class R | ||||
Subscriptions | 432,826 | 5,317,165 | 672,334 | 9,048,538 |
Distributions reinvested | 123,743 | 1,400,851 | 181,931 | 2,485,764 |
Redemptions | (593,934) | (7,260,570) | (1,062,609) | (14,437,715) |
Net decrease | (37,365) | (542,554) | (208,344) | (2,903,413) |
Total net increase | 5,150,238 | 53,571,293 | 15,873,552 | 216,032,102 |
16 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $13.54 | 0.08 | (0.42) | (0.34) | (0.07) | (0.66) | (0.73) |
Year Ended 2/28/2022 | $12.50 | 0.05 | 2.22 | 2.27 | (0.04) | (1.19) | (1.23) |
Year Ended 2/28/2021 | $9.76 | 0.05 | 3.04 | 3.09 | (0.07) | (0.28) | (0.35) |
Year Ended 2/29/2020 | $10.34 | 0.10 | (0.32) | (0.22) | (0.10) | (0.26) | (0.36) |
Year Ended 2/28/2019 | $13.27 | 0.07 | 0.18 | 0.25 | (0.07) | (3.11) | (3.18) |
Advisor Class | |||||||
Year Ended 2/28/2023 | $14.17 | 0.12 | (0.43) | (0.31) | (0.10) | (0.66) | (0.76) |
Year Ended 2/28/2022 | $13.04 | 0.09 | 2.30 | 2.39 | (0.07) | (1.19) | (1.26) |
Year Ended 2/28/2021 | $10.17 | 0.07 | 3.17 | 3.24 | (0.09) | (0.28) | (0.37) |
Year Ended 2/29/2020 | $10.75 | 0.13 | (0.33) | (0.20) | (0.12) | (0.26) | (0.38) |
Year Ended 2/28/2019 | $13.67 | 0.10 | 0.19 | 0.29 | (0.10) | (3.11) | (3.21) |
Class C | |||||||
Year Ended 2/28/2023 | $11.92 | (0.01) | (0.37) | (0.38) | — | (0.66) | (0.66) |
Year Ended 2/28/2022 | $11.18 | (0.05) | 1.98 | 1.93 | — | (1.19) | (1.19) |
Year Ended 2/28/2021 | $8.76 | (0.01) | 2.72 | 2.71 | (0.01) | (0.28) | (0.29) |
Year Ended 2/29/2020 | $9.30 | 0.02 | (0.28) | (0.26) | (0.02) | (0.26) | (0.28) |
Year Ended 2/28/2019 | $12.29 | (0.02) | 0.14 | 0.12 | — | (3.11) | (3.11) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $13.59 | 0.11 | (0.41) | (0.30) | (0.10) | (0.66) | (0.76) |
Year Ended 2/28/2022 | $12.55 | 0.08 | 2.22 | 2.30 | (0.07) | (1.19) | (1.26) |
Year Ended 2/28/2021 | $9.80 | 0.09 | 3.03 | 3.12 | (0.09) | (0.28) | (0.37) |
Year Ended 2/29/2020 | $10.38 | 0.13 | (0.33) | (0.20) | (0.12) | (0.26) | (0.38) |
Year Ended 2/28/2019 | $13.31 | 0.10 | 0.18 | 0.28 | (0.10) | (3.11) | (3.21) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $14.18 | 0.13 | (0.42) | (0.29) | (0.12) | (0.66) | (0.78) |
Year Ended 2/28/2022 | $13.05 | 0.10 | 2.31 | 2.41 | (0.09) | (1.19) | (1.28) |
Year Ended 2/28/2021 | $10.17 | 0.10 | 3.17 | 3.27 | (0.11) | (0.28) | (0.39) |
Year Ended 2/29/2020 | $10.76 | 0.14 | (0.33) | (0.19) | (0.14) | (0.26) | (0.40) |
Year Ended 2/28/2019 | $13.67 | 0.11 | 0.20 | 0.31 | (0.11) | (3.11) | (3.22) |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $13.53 | 0.13 | (0.42) | (0.29) | (0.12) | (0.66) | (0.78) |
Year Ended 2/28/2022 | $12.50 | 0.10 | 2.21 | 2.31 | (0.09) | (1.19) | (1.28) |
Year Ended 2/28/2021 | $9.76 | 0.09 | 3.04 | 3.13 | (0.11) | (0.28) | (0.39) |
Year Ended 2/29/2020 | $10.34 | 0.14 | (0.32) | (0.18) | (0.14) | (0.26) | (0.40) |
Year Ended 2/28/2019 | $13.27 | 0.12 | 0.18 | 0.30 | (0.12) | (3.11) | (3.23) |
18 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $12.47 | (1.90%) | 1.14% | 1.12%(c) | 0.67% | 30% | $1,038,459 |
Year Ended 2/28/2022 | $13.54 | 18.15% | 1.13% | 1.13%(c) | 0.35% | 37% | $1,142,075 |
Year Ended 2/28/2021 | $12.50 | 33.20% | 1.18% | 1.15%(c) | 0.54% | 44% | $1,003,004 |
Year Ended 2/29/2020 | $9.76 | (2.47%) | 1.21% | 1.16%(c) | 0.91% | 28% | $479,921 |
Year Ended 2/28/2019 | $10.34 | 3.57% | 1.20% | 1.17%(c) | 0.57% | 79% | $575,861 |
Advisor Class | |||||||
Year Ended 2/28/2023 | $13.10 | (1.57%) | 0.89% | 0.87%(c) | 0.92% | 30% | $162,423 |
Year Ended 2/28/2022 | $14.17 | 18.36% | 0.89% | 0.88%(c) | 0.60% | 37% | $178,228 |
Year Ended 2/28/2021 | $13.04 | 33.49% | 0.93% | 0.90%(c) | 0.66% | 44% | $152,860 |
Year Ended 2/29/2020 | $10.17 | (2.14%) | 0.96% | 0.91%(c) | 1.16% | 28% | $20,433 |
Year Ended 2/28/2019 | $10.75 | 3.79% | 0.95% | 0.92%(c) | 0.78% | 79% | $21,857 |
Class C | |||||||
Year Ended 2/28/2023 | $10.88 | (2.56%) | 1.89% | 1.87%(c) | (0.07%) | 30% | $10,281 |
Year Ended 2/28/2022 | $11.92 | 17.19% | 1.88% | 1.88%(c) | (0.39%) | 37% | $12,830 |
Year Ended 2/28/2021 | $11.18 | 32.30% | 1.94% | 1.90%(c) | (0.12%) | 44% | $12,577 |
Year Ended 2/29/2020 | $8.76 | (3.11%) | 1.96% | 1.92%(c) | 0.17% | 28% | $12,726 |
Year Ended 2/28/2019 | $9.30 | 2.78% | 1.95% | 1.92%(c) | (0.20%) | 79% | $20,763 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $12.53 | (1.56%) | 0.89% | 0.87%(c) | 0.92% | 30% | $861,739 |
Year Ended 2/28/2022 | $13.59 | 18.36% | 0.89% | 0.88%(c) | 0.60% | 37% | $861,576 |
Year Ended 2/28/2021 | $12.55 | 33.52% | 0.94% | 0.90%(c) | 0.91% | 44% | $703,152 |
Year Ended 2/29/2020 | $9.80 | (2.22%) | 0.96% | 0.91%(c) | 1.16% | 28% | $605,614 |
Year Ended 2/28/2019 | $10.38 | 3.84% | 0.95% | 0.92%(c) | 0.82% | 79% | $694,941 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $13.11 | (1.47%) | 0.81% | 0.77% | 1.02% | 30% | $123,621 |
Year Ended 2/28/2022 | $14.18 | 18.47% | 0.80% | 0.78% | 0.70% | 37% | $130,351 |
Year Ended 2/28/2021 | $13.05 | 33.75% | 0.84% | 0.79% | 0.96% | 44% | $103,360 |
Year Ended 2/29/2020 | $10.17 | (2.12%) | 0.85% | 0.80% | 1.27% | 28% | $62,808 |
Year Ended 2/28/2019 | $10.76 | 3.99% | 0.83% | 0.80% | 0.89% | 79% | $70,379 |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $12.46 | (1.50%) | 0.75% | 0.73% | 1.05% | 30% | $411,996 |
Year Ended 2/28/2022 | $13.53 | 18.53% | 0.75% | 0.74% | 0.73% | 37% | $434,024 |
Year Ended 2/28/2021 | $12.50 | 33.80% | 0.79% | 0.75% | 0.94% | 44% | $369,599 |
Year Ended 2/29/2020 | $9.76 | (2.07%) | 0.80% | 0.75% | 1.32% | 28% | $140,100 |
Year Ended 2/28/2019 | $10.34 | 4.02% | 0.78% | 0.76% | 0.97% | 79% | $153,442 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 19 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R | |||||||
Year Ended 2/28/2023 | $13.46 | 0.05 | (0.41) | (0.36) | (0.04) | (0.66) | (0.70) |
Year Ended 2/28/2022 | $12.44 | 0.01 | 2.21 | 2.22 | (0.01) | (1.19) | (1.20) |
Year Ended 2/28/2021 | $9.71 | 0.04 | 3.02 | 3.06 | (0.05) | (0.28) | (0.33) |
Year Ended 2/29/2020 | $10.29 | 0.07 | (0.32) | (0.25) | (0.07) | (0.26) | (0.33) |
Year Ended 2/28/2019 | $13.22 | 0.04 | 0.18 | 0.22 | (0.04) | (3.11) | (3.15) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
20 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class R | |||||||
Year Ended 2/28/2023 | $12.40 | (2.09%) | 1.39% | 1.37%(c) | 0.42% | 30% | $25,136 |
Year Ended 2/28/2022 | $13.46 | 17.79% | 1.38% | 1.38%(c) | 0.10% | 37% | $27,787 |
Year Ended 2/28/2021 | $12.44 | 32.90% | 1.44% | 1.40%(c) | 0.39% | 44% | $28,271 |
Year Ended 2/29/2020 | $9.71 | (2.72%) | 1.46% | 1.41%(c) | 0.66% | 28% | $23,646 |
Year Ended 2/28/2019 | $10.29 | 3.34% | 1.45% | 1.42%(c) | 0.32% | 79% | $31,097 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 21 |
February 28, 2023
22 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 23 |
February 28, 2023
24 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Effective rate (%) | |
Class A | 0.14 |
Advisor Class | 0.14 |
Class C | 0.14 |
Institutional Class | 0.14 |
Institutional 2 Class | 0.04 |
Institutional 3 Class | 0.00 |
Class R | 0.14 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 25 |
February 28, 2023
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 295,980 |
Class C | — | 1.00(b) | 724 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through June 30, 2024 | |
Class A | 1.13% |
Advisor Class | 0.88 |
Class C | 1.88 |
Institutional Class | 0.88 |
Institutional 2 Class | 0.78 |
Institutional 3 Class | 0.73 |
Class R | 1.38 |
26 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(99,210) | 99,211 | (1) |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
26,336,751 | 130,353,045 | 156,689,796 | 74,416,479 | 159,092,743 | 233,509,222 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
3,503,773 | 10,799,113 | — | 729,282,369 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,903,303,710 | 780,732,951 | (51,450,582) | 729,282,369 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 27 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 3,710,000 | 1.38 | 10 |
28 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Shares | |
Class A | 2,451,935 |
Advisor Class | 185,751 |
Institutional 3 Class | 83,061 |
($) | |
Net investment income | 13,725,000 |
Net realized gain | 296,199,000 |
Net change in unrealized appreciation/(depreciation) | 129,758,000 |
Net increase in net assets from operations | 439,682,000 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 29 |
February 28, 2023
30 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
February 28, 2023
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 31 |
32 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
88.22% | 86.86% | 11.78% | $55,085,191 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 33 |
(Unaudited)
Independent trustees
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
34 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 35 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
36 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 37 |
(Unaudited)
The Statement of Additional Information has additional information about the Fund’s Board members and is available, without charge, upon request by calling 800.345.6611, visiting columbiathreadneedleus.com/investor/ or contacting your financial intermediary.
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
38 | Columbia Select Mid Cap Value Fund | Annual Report 2023 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
Columbia Select Mid Cap Value Fund | Annual Report 2023 | 39 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgf2b2491e2.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img15bbd5141.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img3dfc05f02.jpg)
3 | |
5 | |
7 | |
8 | |
21 | |
22 | |
23 | |
24 | |
26 | |
37 | |
38 | |
38 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgdbe36b363.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 10/15/96 | -3.93 | 7.37 | 10.38 | |
Institutional Class | 10/15/96 | -3.72 | 7.64 | 10.66 | |
Institutional 2 Class | 11/08/12 | -3.73 | 7.64 | 10.66 | |
Institutional 3 Class* | 03/01/17 | -3.69 | 7.64 | 10.55 | |
S&P SmallCap 600 Index | -3.50 | 7.86 | 10.91 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Small Cap Index Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imga982a47d4.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 97.7 |
Exchange-Traded Equity Funds | 1.4 |
Money Market Funds | 0.9 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 2.1 |
Consumer Discretionary | 13.6 |
Consumer Staples | 5.2 |
Energy | 4.7 |
Financials | 17.6 |
Health Care | 10.6 |
Industrials | 17.5 |
Information Technology | 13.6 |
Materials | 6.0 |
Real Estate | 6.9 |
Utilities | 2.2 |
Total | 100.0 |
4 | Columbia Small Cap Index Fund | Annual Report 2023 |
(Unaudited)
• | Real estate, communication services and health care were the weakest sectors from a total return perspective. |
• | On the basis of impact, real estate, health care and financials were the weakest sectors. |
• | The worst performing industries for the annual period on the basis of total return were multiline retail; technology hardware storage and peripherals; marine; real estate management and development; and media. |
• | Top individual detractors were specialized properties real estate investment trust Innovative Industrial Properties Inc.; specialty engineered materials company Rogers Corp.; healthcare logistics company Owens & Minor, Inc.; semiconductor company MaxLinear, Inc.; and communications infrastructure real estate investment trust Uniti Group Inc. |
• | In terms of total return, energy was the best relative performer, followed at some distance by consumer staples and industrials. |
• | On the basis of impact, which takes weightings and total returns into account, industrials was the biggest contributor to the Index’s return, followed by energy and consumer staples. |
• | The top performing industries for the annual period on the basis of total return were containers and packaging; electrical equipment; construction and engineering; diversified consumer services; and personal products. |
• | Top individual contributors within the Index during the annual period included cosmetics and skin care products provider e.l.f. Beauty, Inc.; petroleum refiner PBF Energy Inc. Class A; heating, ventilation and air conditioning services provider Comfort Systems USA, Inc.; capital equipment manufacturer for the semiconductor manufacturing industry Axcelis Technologies, Inc; and semiconductor company Rambus Inc. |
Columbia Small Cap Index Fund | Annual Report 2023 | 5 |
(Unaudited)
6 | Columbia Small Cap Index Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,061.70 | 1,022.56 | 2.30 | 2.26 | 0.45 |
Institutional Class | 1,000.00 | 1,000.00 | 1,062.90 | 1,023.80 | 1.02 | 1.00 | 0.20 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,062.70 | 1,023.80 | 1.02 | 1.00 | 0.20 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,063.30 | 1,023.80 | 1.02 | 1.00 | 0.20 |
Columbia Small Cap Index Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 97.6% | ||
Issuer | Shares | Value ($) |
Communication Services 2.0% | ||
Diversified Telecommunication Services 0.4% | ||
ATN International, Inc. | 39,084 | 1,643,482 |
Cogent Communications Holdings, Inc. | 155,804 | 10,086,751 |
Consolidated Communications Holdings, Inc.(a) | 269,295 | 815,964 |
Total | 12,546,197 | |
Entertainment 0.2% | ||
Cinemark Holdings, Inc.(a) | 390,808 | 5,318,897 |
Marcus Corp. (The) | 88,960 | 1,431,366 |
Total | 6,750,263 | |
Interactive Media & Services 0.6% | ||
Cars.com, Inc.(a) | 225,881 | 4,336,915 |
QuinStreet, Inc.(a) | 183,854 | 3,120,003 |
Shutterstock, Inc. | 87,498 | 6,581,600 |
Yelp, Inc.(a) | 254,157 | 7,629,793 |
Total | 21,668,311 | |
Media 0.5% | ||
AMC Networks, Inc., Class A(a) | 102,212 | 2,285,460 |
EW Scripps Co. (The), Class A(a) | 211,352 | 2,667,262 |
Gannett Co, Inc.(a) | 532,701 | 1,614,084 |
Scholastic Corp. | 108,386 | 4,943,486 |
TechTarget, Inc.(a) | 98,371 | 3,711,538 |
Thryv Holdings, Inc.(a) | 111,880 | 2,667,219 |
Total | 17,889,049 | |
Wireless Telecommunication Services 0.3% | ||
Gogo(a) | 236,675 | 3,895,671 |
Shenandoah Telecommunications Co. | 182,674 | 3,565,796 |
Telephone and Data Systems, Inc. | 363,945 | 4,618,462 |
Total | 12,079,929 | |
Total Communication Services | 70,933,749 | |
Consumer Discretionary 13.3% | ||
Auto Components 1.3% | ||
American Axle & Manufacturing Holdings, Inc.(a) | 417,703 | 3,675,786 |
Dorman Products, Inc.(a) | 103,108 | 9,592,137 |
Gentherm, Inc.(a) | 121,051 | 7,687,949 |
LCI Industries | 92,726 | 10,460,420 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Motorcar Parts of America, Inc.(a) | 70,819 | 927,021 |
Patrick Industries, Inc. | 78,509 | 5,719,381 |
Standard Motor Products, Inc. | 68,427 | 2,666,600 |
XPEL, Inc.(a) | 71,495 | 4,776,581 |
Total | 45,505,875 | |
Automobiles 0.2% | ||
Winnebago Industries, Inc. | 111,184 | 7,066,855 |
Diversified Consumer Services 1.0% | ||
Adtalem Global Education, Inc.(a) | 165,562 | 6,476,785 |
frontdoor, Inc.(a) | 297,151 | 8,394,516 |
Mister Car Wash, Inc.(a) | 288,798 | 2,665,606 |
Perdoceo Education Corp.(a) | 244,924 | 3,376,277 |
Strategic Education, Inc. | 81,142 | 6,917,356 |
Stride, Inc.(a) | 149,064 | 6,330,748 |
WW International, Inc.(a) | 195,446 | 715,332 |
Total | 34,876,620 | |
Hotels, Restaurants & Leisure 1.9% | ||
BJ’s Restaurants, Inc.(a) | 85,295 | 2,729,440 |
Bloomin’ Brands, Inc. | 320,127 | 8,355,315 |
Brinker International, Inc.(a) | 160,556 | 6,101,128 |
Cheesecake Factory, Inc. (The) | 174,370 | 6,528,413 |
Chuy’s Holdings, Inc.(a) | 65,620 | 2,345,915 |
Dave & Buster’s Entertainment, Inc.(a) | 153,020 | 6,123,861 |
Dine Brands Global, Inc. | 57,167 | 4,382,994 |
El Pollo Loco Holdings, Inc. | 71,599 | 857,040 |
Golden Entertainment, Inc.(a) | 80,033 | 3,290,157 |
Jack in the Box, Inc. | 76,781 | 6,019,630 |
Monarch Casino & Resort, Inc. | 48,399 | 3,563,134 |
Ruth’s Hospitality Group, Inc. | 110,522 | 2,061,235 |
Shake Shack, Inc., Class A(a) | 136,067 | 7,591,178 |
Six Flags Entertainment Corp.(a) | 269,865 | 7,124,436 |
Total | 67,073,876 |
8 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Household Durables 2.7% | ||
Cavco Industries, Inc.(a) | 30,211 | 8,610,135 |
Century Communities, Inc. | 103,108 | 6,166,889 |
Ethan Allen Interiors, Inc. | 83,181 | 2,457,999 |
Green Brick Partners, Inc.(a) | 99,043 | 3,090,142 |
Installed Building Products, Inc. | 85,523 | 9,867,644 |
iRobot Corp.(a) | 99,290 | 4,079,826 |
La-Z-Boy, Inc. | 156,924 | 5,081,199 |
LGI Homes, Inc.(a) | 74,732 | 7,795,295 |
M/I Homes, Inc.(a) | 100,015 | 5,784,868 |
MDC Holdings, Inc. | 207,882 | 7,691,634 |
Meritage Homes Corp.(a) | 133,350 | 14,565,820 |
Sonos, Inc.(a) | 464,004 | 9,015,598 |
Tri Pointe Homes, Inc.(a) | 367,967 | 8,772,333 |
Universal Electronics, Inc.(a) | 43,931 | 558,802 |
Total | 93,538,184 | |
Internet & Direct Marketing Retail 0.0% | ||
PetMed Express, Inc. | 76,850 | 1,443,243 |
Leisure Products 0.3% | ||
Sturm Ruger & Co., Inc. | 64,420 | 3,753,753 |
Vista Outdoor, Inc.(a) | 206,284 | 5,891,471 |
Total | 9,645,224 | |
Multiline Retail 0.1% | ||
Big Lots, Inc. | 105,532 | 1,514,384 |
Specialty Retail 4.8% | ||
Aaron’s Co., Inc. (The) | 112,234 | 1,610,558 |
Abercrombie & Fitch Co., Class A(a) | 180,326 | 5,303,388 |
Academy Sports & Outdoors, Inc. | 290,748 | 17,197,744 |
American Eagle Outfitters, Inc. | 635,267 | 9,128,787 |
America’s Car-Mart, Inc.(a) | 21,130 | 1,795,205 |
Asbury Automotive Group, Inc.(a) | 80,704 | 18,327,878 |
Bed Bath & Beyond, Inc.(a) | 279,627 | 394,274 |
Boot Barn Holdings, Inc.(a) | 108,701 | 8,418,892 |
Buckle, Inc. (The) | 107,771 | 4,395,979 |
Caleres, Inc. | 132,960 | 3,471,586 |
Chico’s FAS, Inc.(a) | 456,131 | 2,622,753 |
Children’s Place, Inc. (The)(a) | 47,504 | 1,988,992 |
Designer Brands, Inc. | 185,420 | 1,815,262 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Genesco, Inc.(a) | 45,271 | 2,035,837 |
Group 1 Automotive, Inc. | 53,167 | 11,753,629 |
Guess?, Inc. | 111,160 | 2,338,806 |
Haverty Furniture Companies, Inc. | 48,237 | 1,820,464 |
Hibbett, Inc. | 46,699 | 3,359,059 |
Leslie’s, Inc.(a) | 540,579 | 6,816,701 |
MarineMax, Inc.(a) | 78,520 | 2,636,702 |
Monro, Inc. | 114,696 | 5,785,266 |
National Vision Holdings, Inc.(a) | 287,740 | 10,749,966 |
ODP Corp. (The)(a) | 146,997 | 6,656,024 |
Sally Beauty Holdings, Inc.(a) | 390,220 | 6,278,640 |
Shoe Carnival, Inc. | 62,428 | 1,644,978 |
Signet Jewelers Ltd. | 168,625 | 12,076,923 |
Sleep Number Corp.(a) | 80,223 | 3,197,689 |
Sonic Automotive, Inc., Class A | 60,867 | 3,462,724 |
Upbound Group, Inc. | 182,693 | 4,905,307 |
Urban Outfitters, Inc.(a) | 218,463 | 5,887,578 |
Zumiez, Inc.(a) | 56,795 | 1,321,052 |
Total | 169,198,643 | |
Textiles, Apparel & Luxury Goods 1.0% | ||
G-III Apparel Group Ltd.(a) | 155,838 | 2,589,249 |
Kontoor Brands, Inc. | 180,001 | 9,387,052 |
Movado Group, Inc. | 57,937 | 2,005,779 |
Oxford Industries, Inc. | 54,553 | 6,415,978 |
Steven Madden Ltd. | 266,949 | 9,690,249 |
Wolverine World Wide, Inc. | 287,167 | 4,810,047 |
Total | 34,898,354 | |
Total Consumer Discretionary | 464,761,258 | |
Consumer Staples 5.1% | ||
Beverages 0.3% | ||
MGP Ingredients, Inc. | 56,138 | 5,694,639 |
National Beverage Corp.(a) | 85,085 | 3,969,215 |
Total | 9,663,854 |
Columbia Small Cap Index Fund | Annual Report 2023 | 9 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Food & Staples Retailing 0.8% | ||
Andersons, Inc. (The) | 113,504 | 5,179,188 |
PriceSmart, Inc. | 91,279 | 6,363,972 |
SpartanNash Co. | 128,625 | 3,442,005 |
The Chefs’ Warehouse(a) | 124,195 | 4,042,547 |
United Natural Foods, Inc.(a) | 212,625 | 8,660,216 |
Total | 27,687,928 | |
Food Products 2.0% | ||
B&G Foods, Inc. | 261,326 | 3,311,001 |
Calavo Growers, Inc. | 64,657 | 2,086,481 |
Cal-Maine Foods, Inc. | 138,404 | 7,861,347 |
Fresh Del Monte Produce, Inc. | 111,658 | 3,492,662 |
Hain Celestial Group, Inc. (The)(a) | 325,669 | 5,806,678 |
Hostess Brands, Inc.(a) | 488,197 | 12,058,466 |
J&J Snack Foods Corp. | 54,585 | 7,707,948 |
John B. Sanfilippo & Son, Inc. | 32,558 | 2,922,732 |
Seneca Foods Corp., Class A(a) | 19,293 | 1,072,691 |
Simply Good Foods Co. (The)(a) | 306,821 | 11,748,176 |
Tootsie Roll Industries, Inc. | 64,647 | 2,846,407 |
TreeHouse Foods, Inc.(a) | 184,045 | 8,979,556 |
Total | 69,894,145 | |
Household Products 0.5% | ||
Central Garden & Pet Co.(a) | 35,482 | 1,437,021 |
Central Garden & Pet Co., Class A(a) | 151,137 | 5,808,195 |
WD-40 Co. | 49,517 | 8,587,733 |
Total | 15,832,949 | |
Personal Products 1.2% | ||
Edgewell Personal Care Co. | 188,975 | 8,069,233 |
elf Beauty, Inc.(a) | 183,378 | 13,707,505 |
Inter Parfums, Inc. | 65,089 | 7,837,366 |
Medifast, Inc. | 39,844 | 4,467,708 |
Nu Skin Enterprises, Inc., Class A | 180,202 | 7,179,248 |
Usana Health Sciences, Inc.(a) | 40,618 | 2,468,762 |
Total | 43,729,822 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Tobacco 0.3% | ||
Universal Corp. | 89,536 | 4,529,626 |
Vector Group Ltd. | 479,773 | 6,366,588 |
Total | 10,896,214 | |
Total Consumer Staples | 177,704,912 | |
Energy 4.5% | ||
Energy Equipment & Services 2.1% | ||
Archrock, Inc. | 487,976 | 5,401,894 |
Bristow Group, Inc.(a) | 85,811 | 2,337,492 |
Core Laboratories NV | 169,084 | 4,036,035 |
DMC Global Inc(a) | 67,652 | 1,811,044 |
Dril-Quip, Inc.(a) | 123,684 | 4,236,177 |
Helix Energy Solutions Group, Inc.(a) | 520,375 | 4,308,705 |
Helmerich & Payne, Inc. | 383,923 | 16,155,480 |
Nabors Industries Ltd.(a) | 32,617 | 4,902,661 |
Oceaneering International, Inc.(a) | 365,582 | 7,637,008 |
Oil States International, Inc.(a) | 233,008 | 2,127,363 |
Patterson-UTI Energy, Inc. | 790,606 | 10,831,302 |
ProPetro Holding Corp.(a) | 350,870 | 3,091,165 |
RPC, Inc. | 303,412 | 2,660,923 |
US Silica Holdings, Inc.(a) | 276,061 | 3,351,381 |
Total | 72,888,630 | |
Oil, Gas & Consumable Fuels 2.4% | ||
Callon Petroleum Co.(a) | 186,457 | 7,227,073 |
Civitas Resources, Inc. | 189,310 | 13,283,883 |
Comstock Resources, Inc. | 334,276 | 4,058,111 |
CONSOL Energy, Inc. | 119,522 | 6,541,439 |
Dorian LPG Ltd. | 116,235 | 2,551,358 |
Green Plains, Inc.(a) | 216,210 | 7,496,001 |
Northern Oil and Gas, Inc. | 246,447 | 7,649,715 |
Par Pacific Holdings, Inc.(a) | 202,345 | 5,621,144 |
Ranger Oil Corp. | 69,722 | 2,893,463 |
REX American Resources Corp.(a) | 56,603 | 1,868,465 |
SM Energy Co. | 447,756 | 13,213,279 |
Talos Energy, Inc.(a) | 237,852 | 4,236,144 |
10 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Vital Energy, Inc.(a) | 61,310 | 3,150,721 |
World Fuel Services Corp. | 225,778 | 6,197,606 |
Total | 85,988,402 | |
Total Energy | 158,877,032 | |
Financials 17.2% | ||
Banks 9.5% | ||
Ameris Bancorp | 237,708 | 11,379,082 |
Banc of California, Inc. | 204,005 | 3,580,288 |
BancFirst Corp. | 63,525 | 5,733,131 |
Bancorp, Inc. (The)(a) | 204,129 | 7,060,822 |
BankUnited, Inc. | 281,753 | 9,979,691 |
Banner Corp. | 124,668 | 7,851,591 |
Berkshire Hills Bancorp, Inc. | 164,176 | 4,770,955 |
Brookline Bancorp, Inc. | 321,516 | 4,166,847 |
Central Pacific Financial Corp. | 99,283 | 2,226,918 |
City Holding Co. | 54,170 | 5,319,494 |
Community Bank System, Inc. | 195,932 | 11,961,649 |
Customers Bancorp, Inc.(a) | 111,447 | 3,432,568 |
CVB Financial Corp. | 479,200 | 11,467,256 |
Dime Community Bancshares, Inc. | 118,149 | 3,620,085 |
Eagle Bancorp, Inc. | 116,387 | 5,098,914 |
FB Financial Corp. | 128,342 | 4,837,210 |
First BanCorp | 673,158 | 9,767,523 |
First BanCorp | 130,218 | 5,402,745 |
First Commonwealth Financial Corp. | 340,481 | 5,451,101 |
First Financial Bancorp | 345,819 | 8,520,980 |
First Hawaiian, Inc. | 465,568 | 12,733,285 |
Hanmi Financial Corp. | 111,162 | 2,625,646 |
Heritage Financial Corp. | 128,001 | 3,567,388 |
Hilltop Holdings, Inc. | 167,220 | 5,546,687 |
HomeStreet, Inc. | 64,857 | 1,636,342 |
Hope Bancorp, Inc. | 435,672 | 5,580,958 |
Independent Bank Corp. | 166,426 | 13,260,824 |
Independent Bank Group, Inc. | 129,185 | 7,603,829 |
Lakeland Financial Corp. | 92,435 | 6,620,195 |
Meta Financial Group, Inc. | 104,971 | 5,354,571 |
National Bank Holdings Corp., Class A | 137,435 | 5,564,743 |
NBT Bancorp, Inc. | 156,209 | 6,340,523 |
Northwest Bancshares, Inc. | 463,041 | 6,399,227 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
OFG Bancorp | 173,431 | 5,275,771 |
Pacific Premier Bancorp, Inc. | 346,446 | 11,231,779 |
Park National Corp. | 52,781 | 6,743,828 |
Preferred Bank | 48,162 | 3,390,605 |
Renasant Corp. | 204,024 | 7,340,784 |
S&T Bancorp, Inc. | 142,222 | 5,299,192 |
Seacoast Banking Corp. of Florida | 301,200 | 9,189,612 |
ServisFirst Bancshares, Inc. | 178,275 | 13,183,436 |
Simmons First National Corp., Class A | 462,976 | 10,291,956 |
Southside Bancshares, Inc. | 111,212 | 4,247,186 |
Stellar Bancorp, Inc. | 162,092 | 4,741,191 |
Tompkins Financial Corp. | 45,948 | 3,436,451 |
Triumph Financial, Inc.(a) | 82,498 | 5,020,003 |
Trustmark Corp. | 222,259 | 6,534,415 |
United Community Banks, Inc. | 387,132 | 12,817,940 |
Veritex Holdings, Inc. | 196,920 | 5,249,887 |
Westamerica BanCorp | 98,130 | 5,408,926 |
Total | 333,866,030 | |
Capital Markets 1.0% | ||
Avantax, Inc.(a) | 144,250 | 4,124,108 |
B Riley Financial, Inc. | 58,363 | 2,321,680 |
BrightSphere Investment Group, Inc. | 117,844 | 2,954,349 |
Donnelley Financial Solutions, Inc.(a) | 91,266 | 3,861,464 |
Piper Sandler Companies | 51,530 | 7,780,515 |
StoneX Group, Inc.(a) | 62,800 | 6,332,124 |
Virtus Investment Partners, Inc. | 24,788 | 5,216,139 |
WisdomTree, Inc. | 406,036 | 2,424,035 |
Total | 35,014,414 | |
Consumer Finance 1.0% | ||
Bread Financial Holdings, Inc. | 181,781 | 7,465,746 |
Encore Capital Group, Inc.(a) | 85,273 | 4,406,909 |
Enova International, Inc.(a) | 114,714 | 5,592,307 |
Ezcorp, Inc., Class A(a) | 195,754 | 1,726,550 |
Green Dot Corp., Class A(a) | 170,599 | 3,229,439 |
LendingTree, Inc.(a) | 39,629 | 1,304,983 |
PRA Group, Inc.(a) | 142,123 | 6,048,755 |
PROG Holdings, Inc.(a) | 182,437 | 4,509,843 |
World Acceptance Corp.(a) | 12,059 | 1,125,828 |
Total | 35,410,360 |
Columbia Small Cap Index Fund | Annual Report 2023 | 11 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Insurance 3.0% | ||
Ambac Financial Group, Inc.(a) | 163,979 | 2,713,852 |
American Equity Investment Life Holding Co. | 253,124 | 10,542,615 |
AMERISAFE, Inc. | 69,849 | 3,809,564 |
Assured Guaranty Ltd. | 218,627 | 13,644,511 |
Employers Holdings, Inc. | 99,169 | 4,404,095 |
Genworth Financial, Inc., Class A(a) | 1,809,918 | 11,275,789 |
HCI Group, Inc. | 25,225 | 1,324,312 |
Horace Mann Educators Corp. | 149,128 | 5,511,771 |
James River Group Holdings Ltd. | 136,592 | 3,291,867 |
Mercury General Corp. | 96,913 | 3,299,888 |
Mr. Cooper Group, Inc.(a) | 257,304 | 11,946,625 |
Palomar Holdings, Inc.(a) | 92,008 | 5,520,480 |
ProAssurance Corp. | 196,771 | 3,913,775 |
Safety Insurance Group, Inc. | 53,740 | 4,336,281 |
SiriusPoint Ltd.(a) | 309,747 | 2,199,204 |
Stewart Information Services Corp. | 98,914 | 4,202,856 |
Trupanion, Inc.(a) | 128,206 | 7,612,872 |
United Fire Group, Inc. | 79,014 | 2,255,060 |
Universal Insurance Holdings, Inc. | 100,135 | 1,935,610 |
Total | 103,741,027 | |
Mortgage Real Estate Investment Trusts (REITS) 1.2% | ||
Apollo Commercial Real Estate Finance, Inc. | 471,648 | 5,419,235 |
ARMOUR Residential REIT, Inc. | 481,827 | 2,616,321 |
Ellington Financial, Inc. | 209,362 | 2,694,489 |
Franklin BSP Realty Trust, Inc. | 300,750 | 4,213,507 |
Granite Point Mortgage Trust, Inc. | 190,889 | 1,143,425 |
Invesco Mortgage Capital, Inc. | 128,905 | 1,615,180 |
KKR Real Estate Finance Trust, Inc. | 209,207 | 3,033,501 |
New York Mortgage Trust, Inc. | 1,353,022 | 3,612,569 |
PennyMac Mortgage Investment Trust | 324,262 | 4,225,134 |
Ready Capital Corp. | 358,641 | 4,038,298 |
Redwood Trust, Inc. | 413,313 | 3,145,312 |
Two Harbors Investment Corp. | 351,353 | 5,821,919 |
Total | 41,578,890 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Thrifts & Mortgage Finance 1.5% | ||
Axos Financial, Inc.(a) | 194,711 | 9,227,354 |
Capitol Federal Financial, Inc. | 470,884 | 3,950,717 |
NMI Holdings, Inc., Class A(a) | 304,765 | 7,113,215 |
Northfield Bancorp, Inc. | 153,287 | 2,254,852 |
Provident Financial Services, Inc. | 274,478 | 6,409,061 |
TrustCo Bank Corp. | 69,470 | 2,602,346 |
Walker & Dunlop, Inc. | 111,947 | 9,765,137 |
WSFS Financial Corp. | 224,567 | 11,208,139 |
Total | 52,530,821 | |
Total Financials | 602,141,542 | |
Health Care 10.3% | ||
Biotechnology 2.3% | ||
Anika Therapeutics, Inc.(a) | 53,273 | 1,688,754 |
Arcus Biosciences, Inc.(a) | 190,097 | 3,461,666 |
Avid Bioservices, Inc.(a) | 226,682 | 3,731,186 |
Catalyst Pharmaceuticals, Inc.(a) | 349,120 | 5,327,571 |
Coherus Biosciences, Inc.(a) | 235,392 | 1,593,604 |
Cytokinetics, Inc.(a) | 345,057 | 14,961,672 |
Dynavax Technologies Corp.(a) | 432,653 | 4,456,326 |
Eagle Pharmaceuticals, Inc.(a) | 37,969 | 1,063,132 |
Emergent BioSolutions, Inc.(a) | 161,899 | 2,004,310 |
Enanta Pharmaceuticals, Inc.(a) | 71,036 | 3,445,246 |
Ironwood Pharmaceuticals, Inc.(a) | 486,617 | 5,484,174 |
iTeos Therapeutics, Inc.(a) | 89,506 | 1,585,151 |
Myriad Genetics, Inc.(a) | 295,477 | 5,590,425 |
OmniAb, Inc.(a),(b),(c),(d) | 23,460 | 0 |
OmniAb, Inc.(a),(b),(c),(d) | 23,460 | 0 |
Organogenesis Holdings, Inc.(a) | 257,775 | 631,549 |
REGENXBIO, Inc.(a) | 137,342 | 3,055,859 |
uniQure NV(a) | 150,219 | 3,148,590 |
Vanda Pharmaceuticals, Inc.(a) | 206,346 | 1,328,868 |
Vericel Corp.(a) | 172,191 | 5,236,328 |
Vir Biotechnology, Inc.(a) | 276,670 | 6,308,076 |
Xencor, Inc.(a) | 218,503 | 7,020,501 |
Total | 81,122,988 |
12 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care Equipment & Supplies 2.6% | ||
Angiodynamics, Inc.(a) | 142,601 | 1,765,400 |
Artivion, Inc.(a) | 147,053 | 1,946,982 |
Avanos Medical, Inc.(a) | 169,547 | 4,759,184 |
Cardiovascular Systems, Inc.(a) | 152,716 | 3,010,032 |
CONMED Corp. | 111,148 | 10,691,326 |
Cutera, Inc.(a) | 65,086 | 2,110,739 |
Embecta Corp. | 210,890 | 6,737,936 |
Glaukos Corp.(a) | 173,941 | 8,215,234 |
Heska Corp.(a) | 37,107 | 3,021,623 |
Inogen, Inc.(a) | 83,578 | 1,309,667 |
Integer Holdings Corp.(a) | 120,807 | 9,058,109 |
LeMaitre Vascular, Inc. | 70,596 | 3,537,566 |
Merit Medical Systems, Inc.(a) | 207,546 | 14,648,597 |
Mesa Laboratories, Inc. | 18,293 | 3,229,080 |
NuVasive, Inc.(a) | 190,098 | 8,217,937 |
OraSure Technologies, Inc.(a) | 264,804 | 1,670,913 |
Orthofix Medical, Inc.(a) | 122,958 | 2,532,935 |
SurModics, Inc.(a) | 51,067 | 1,115,303 |
Varex Imaging Corp.(a) | 145,489 | 2,573,701 |
Zimvie, Inc.(a) | 76,101 | 866,029 |
Zynex, Inc.(a) | 79,209 | 1,023,376 |
Total | 92,041,669 | |
Health Care Providers & Services 3.1% | ||
AdaptHealth Corp.(a) | 280,029 | 4,477,664 |
Addus HomeCare Corp.(a) | 58,743 | 6,381,840 |
Agiliti, Inc.(a) | 121,549 | 2,316,724 |
AMN Healthcare Services, Inc.(a) | 158,018 | 14,223,200 |
Apollo Medical Holdings, Inc.(a) | 144,782 | 5,052,892 |
Community Health Systems, Inc.(a) | 456,825 | 2,768,360 |
Corvel Corp.(a) | 33,366 | 6,015,222 |
Cross Country Healthcare, Inc.(a) | 129,191 | 3,417,102 |
Enhabit, Inc.(a) | 180,924 | 2,777,183 |
Ensign Group, Inc. (The) | 202,313 | 18,102,967 |
Fulgent Genetics, Inc.(a) | 71,918 | 2,358,191 |
ModivCare, Inc.(a) | 46,397 | 4,555,721 |
NeoGenomics, Inc.(a) | 460,543 | 7,760,150 |
Owens & Minor, Inc.(a) | 277,975 | 4,261,357 |
Pediatrix Medical Group, Inc.(a) | 298,730 | 4,702,010 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pennant Group, Inc. (The)(a) | 102,802 | 1,544,086 |
RadNet, Inc.(a) | 177,784 | 4,193,036 |
Select Medical Holdings Corp. | 379,682 | 10,323,554 |
U.S. Physical Therapy, Inc. | 47,410 | 4,804,055 |
Total | 110,035,314 | |
Health Care Technology 0.5% | ||
Computer Programs & Systems, Inc.(a) | 51,880 | 1,556,919 |
HealthStream, Inc.(a) | 88,069 | 2,258,970 |
NextGen Healthcare, Inc.(a) | 199,674 | 3,616,096 |
OptimizeRx Corp.(a) | 62,546 | 1,116,446 |
Simulations Plus, Inc. | 58,471 | 2,224,237 |
Veradigm, Inc.(a) | 398,399 | 6,617,407 |
Total | 17,390,075 | |
Life Sciences Tools & Services 0.1% | ||
BioLife Solutions, Inc.(a) | 124,751 | 2,901,708 |
Pharmaceuticals 1.7% | ||
Amphastar Pharmaceuticals, Inc.(a) | 137,460 | 4,379,476 |
ANI Pharmaceuticals, Inc.(a) | 44,550 | 1,863,972 |
Cara Therapeutics, Inc.(a) | 164,583 | 1,672,163 |
Collegium Pharmaceutical, Inc.(a) | 122,415 | 3,247,670 |
Corcept Therapeutics, Inc.(a) | 349,350 | 7,276,961 |
Harmony Biosciences Holdings, Inc.(a) | 108,147 | 4,761,712 |
Innoviva, Inc.(a) | 229,007 | 2,764,114 |
Ligand Pharmaceuticals, Inc.(a) | 58,521 | 4,221,705 |
Nektar Therapeutics(a) | 685,344 | 945,775 |
Pacira Pharmaceuticals, Inc.(a) | 167,301 | 7,122,004 |
Phibro Animal Health Corp., Class A | 74,159 | 1,165,038 |
Prestige Consumer Healthcare, Inc.(a) | 180,589 | 10,880,487 |
Supernus Pharmaceuticals, Inc.(a) | 197,114 | 7,409,515 |
Total | 57,710,592 | |
Total Health Care | 361,202,346 | |
Industrials 17.1% | ||
Aerospace & Defense 1.4% | ||
AAR Corp.(a) | 121,528 | 6,609,908 |
Aerojet Rocketdyne Holdings, Inc.(a) | 276,032 | 15,551,643 |
Aerovironment, Inc.(a) | 91,118 | 7,812,457 |
Kaman Corp. | 102,167 | 2,656,342 |
Moog, Inc., Class A | 105,602 | 10,414,469 |
Columbia Small Cap Index Fund | Annual Report 2023 | 13 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
National Presto Industries, Inc. | 18,527 | 1,271,508 |
Park Aerospace Corp. | 70,912 | 1,164,375 |
Triumph Group, Inc.(a) | 237,016 | 2,991,142 |
Total | 48,471,844 | |
Air Freight & Logistics 0.9% | ||
Atlas Air Worldwide Holdings, Inc.(a) | 93,977 | 9,473,821 |
Forward Air Corp. | 96,956 | 10,006,829 |
HUB Group, Inc., Class A(a) | 119,068 | 10,922,108 |
Total | 30,402,758 | |
Airlines 0.4% | ||
Allegiant Travel Co.(a) | 57,026 | 5,848,016 |
Hawaiian Holdings, Inc.(a) | 187,462 | 2,099,574 |
Skywest, Inc.(a) | 184,497 | 3,518,358 |
Sun Country Airlines Holdings, Inc.(a) | 118,774 | 2,381,419 |
Total | 13,847,367 | |
Building Products 1.7% | ||
AAON, Inc. | 153,248 | 13,939,438 |
American Woodmark Corp.(a) | 60,609 | 3,089,847 |
Apogee Enterprises, Inc. | 80,978 | 3,705,553 |
AZZ, Inc. | 90,655 | 3,685,126 |
Gibraltar Industries, Inc.(a) | 112,931 | 6,031,645 |
Griffon Corp. | 172,702 | 6,298,442 |
Insteel Industries, Inc. | 71,023 | 2,112,934 |
MasterBrand, Inc.(a) | 471,534 | 4,592,741 |
PGT, Inc.(a) | 218,773 | 4,627,049 |
Quanex Building Products Corp. | 120,800 | 3,134,760 |
Resideo Technologies, Inc.(a) | 531,797 | 9,753,157 |
Total | 60,970,692 | |
Commercial Services & Supplies 2.2% | ||
ABM Industries, Inc. | 241,213 | 11,677,121 |
Brady Corp., Class A | 169,117 | 9,328,494 |
CoreCivic, Inc.(a) | 419,260 | 4,071,015 |
Deluxe Corp. | 157,288 | 2,900,391 |
GEO Group, Inc. (The)(a) | 452,693 | 3,965,591 |
Harsco Corp.(a) | 289,793 | 2,451,649 |
Healthcare Services Group, Inc. | 270,150 | 3,584,890 |
HNI Corp. | 150,827 | 4,713,344 |
Interface, Inc. | 212,108 | 1,870,792 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
KAR Auction Services, Inc.(a) | 397,115 | 5,674,773 |
Liquidity Services, Inc.(a) | 98,611 | 1,248,415 |
Matthews International Corp., Class A | 111,600 | 4,258,656 |
MillerKnoll, Inc. | 275,506 | 6,576,328 |
Pitney Bowes, Inc. | 590,064 | 2,560,878 |
Unifirst Corp. | 54,979 | 10,783,031 |
Viad Corp.(a) | 75,370 | 1,937,763 |
Total | 77,603,131 | |
Construction & Engineering 1.3% | ||
Arcosa, Inc. | 176,315 | 10,684,689 |
Comfort Systems U.S.A., Inc. | 130,397 | 18,964,940 |
Granite Construction, Inc. | 159,454 | 6,888,413 |
MYR Group, Inc.(a) | 60,533 | 7,300,885 |
Total | 43,838,927 | |
Electrical Equipment 0.4% | ||
Encore Wire Corp. | 66,885 | 12,909,474 |
Powell Industries, Inc. | 33,080 | 1,467,098 |
Total | 14,376,572 | |
Machinery 5.0% | ||
3D Systems Corp.(a) | 478,261 | 4,682,175 |
Alamo Group, Inc. | 37,524 | 6,844,002 |
Albany International Corp., Class A | 113,401 | 11,444,429 |
Astec Industries, Inc. | 82,816 | 3,729,204 |
Barnes Group, Inc. | 184,392 | 7,770,279 |
CIRCOR International, Inc.(a) | 74,250 | 2,173,298 |
Enerpac Tool Group Corp. | 207,371 | 5,584,501 |
EnPro Industries, Inc. | 75,855 | 8,154,413 |
ESCO Technologies, Inc. | 94,269 | 8,784,928 |
Federal Signal Corp. | 221,103 | 11,667,605 |
Franklin Electric Co., Inc. | 141,872 | 13,558,707 |
Greenbrier Companies, Inc. (The) | 119,538 | 3,838,365 |
Hillenbrand, Inc. | 253,264 | 11,938,865 |
John Bean Technologies Corp. | 116,165 | 12,881,537 |
Lindsay Corp. | 40,037 | 6,025,168 |
Mueller Industries, Inc. | 207,349 | 15,337,606 |
Proto Labs, Inc.(a) | 98,878 | 3,108,724 |
SPX Technologies, Inc.(a) | 164,767 | 11,606,188 |
Standex International Corp. | 43,705 | 5,055,794 |
14 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Tennant Co. | 67,807 | 4,802,092 |
Titan International, Inc.(a) | 185,612 | 2,303,445 |
Trinity Industries, Inc. | 296,823 | 8,284,330 |
Wabash National Corp. | 174,820 | 4,790,068 |
Total | 174,365,723 | |
Marine 0.3% | ||
Matson, Inc. | 137,762 | 9,162,551 |
Professional Services 1.3% | ||
Exponent, Inc. | 184,643 | 18,999,765 |
Forrester Research, Inc.(a) | 40,987 | 1,348,062 |
Heidrick & Struggles International, Inc. | 72,420 | 2,486,179 |
Kelly Services, Inc., Class A | 126,130 | 2,110,155 |
Korn/Ferry International | 194,642 | 10,878,541 |
NV5 Global, Inc.(a) | 45,390 | 4,775,936 |
Resources Connection, Inc. | 116,914 | 2,111,467 |
TrueBlue, Inc.(a) | 119,305 | 2,231,003 |
Total | 44,941,108 | |
Road & Rail 0.7% | ||
ArcBest Corp. | 89,036 | 8,565,263 |
Heartland Express, Inc. | 169,822 | 2,739,229 |
Marten Transport Ltd. | 209,952 | 4,633,640 |
RXO, Inc.(a) | 419,745 | 8,634,155 |
Total | 24,572,287 | |
Trading Companies & Distributors 1.5% | ||
Applied Industrial Technologies, Inc. | 140,647 | 20,092,830 |
Boise Cascade Co. | 143,841 | 9,940,852 |
DXP Enterprises, Inc.(a) | 57,476 | 1,661,631 |
GMS, Inc.(a) | 154,630 | 9,387,587 |
NOW, Inc.(a) | 402,702 | 5,174,721 |
Veritiv Corp. | 49,164 | 7,445,396 |
Total | 53,703,017 | |
Total Industrials | 596,255,977 | |
Information Technology 13.3% | ||
Communications Equipment 1.5% | ||
ADTRAN Holdings, Inc. | 257,676 | 4,496,446 |
Clearfield, Inc.(a) | 41,699 | 2,614,110 |
Comtech Telecommunications Corp. | 100,920 | 1,613,711 |
Digi International, Inc.(a) | 128,687 | 4,294,285 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Extreme Networks, Inc.(a) | 478,928 | 8,965,532 |
Harmonic, Inc.(a) | 384,455 | 5,070,962 |
InterDigital, Inc. | 98,426 | 7,184,114 |
NETGEAR, Inc.(a) | 105,376 | 1,907,306 |
Netscout Systems, Inc.(a) | 250,262 | 7,117,451 |
Viavi Solutions, Inc.(a) | 825,378 | 9,029,635 |
Total | 52,293,552 | |
Electronic Equipment, Instruments & Components 4.1% | ||
Advanced Energy Industries, Inc. | 136,311 | 12,687,828 |
Arlo Technologies, Inc.(a) | 322,599 | 1,225,876 |
Badger Meter, Inc. | 106,725 | 12,979,894 |
Benchmark Electronics, Inc. | 128,264 | 3,051,401 |
CTS Corp. | 116,245 | 5,034,571 |
ePlus, Inc.(a) | 98,112 | 5,314,727 |
Fabrinet(a) | 133,409 | 16,258,555 |
FARO Technologies, Inc.(a) | 68,478 | 1,862,602 |
Insight Enterprises, Inc.(a) | 110,495 | 14,797,490 |
Itron, Inc.(a) | 164,734 | 9,187,215 |
Knowles Corp.(a) | 331,620 | 5,630,908 |
Methode Electronics, Inc. | 133,361 | 6,498,682 |
OSI Systems, Inc.(a) | 57,157 | 5,289,880 |
PC Connection, Inc. | 41,218 | 1,805,348 |
Plexus Corp.(a) | 100,927 | 9,677,890 |
Rogers Corp.(a) | 68,595 | 10,097,184 |
Sanmina Corp.(a) | 209,409 | 12,660,868 |
Scansource, Inc.(a) | 92,052 | 2,870,181 |
TTM Technologies, Inc.(a) | 372,678 | 4,952,891 |
Total | 141,883,991 | |
IT Services 1.3% | ||
CSG Systems International, Inc. | 110,535 | 6,212,067 |
EVERTEC, Inc. | 237,749 | 8,751,541 |
Payoneer Global, Inc.(a) | 727,848 | 4,221,518 |
Perficient, Inc.(a) | 126,265 | 8,939,562 |
Sabre Corp.(a) | 1,197,315 | 6,058,414 |
TTEC Holdings, Inc. | 68,872 | 2,772,787 |
Unisys Corp.(a) | 247,171 | 1,230,911 |
Verra Mobility Corp.(a) | 508,361 | 8,759,060 |
Total | 46,945,860 |
Columbia Small Cap Index Fund | Annual Report 2023 | 15 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Semiconductors & Semiconductor Equipment 3.8% | ||
Alpha & Omega Semiconductor Ltd.(a) | 80,950 | 2,162,174 |
Axcelis Technologies, Inc.(a) | 119,779 | 15,396,393 |
Ceva, Inc.(a) | 84,551 | 2,668,430 |
Cohu, Inc.(a) | 173,675 | 6,460,710 |
Diodes, Inc.(a) | 165,799 | 15,202,110 |
Formfactor, Inc.(a) | 280,859 | 8,453,856 |
Ichor Holdings Ltd.(a) | 105,025 | 3,460,574 |
Kulicke & Soffa Industries, Inc. | 211,736 | 11,285,529 |
MaxLinear, Inc., Class A(a) | 263,560 | 9,016,388 |
Onto Innovation, Inc.(a) | 180,556 | 14,890,453 |
PDF Solutions, Inc.(a) | 107,686 | 4,031,764 |
Photronics, Inc.(a) | 224,939 | 3,963,425 |
Rambus, Inc.(a) | 391,916 | 17,334,445 |
Semtech Corp.(a) | 231,601 | 7,135,627 |
SMART Global Holdings, Inc.(a) | 177,289 | 2,960,726 |
Ultra Clean Holdings, Inc.(a) | 165,897 | 5,285,478 |
Veeco Instruments, Inc.(a) | 187,513 | 3,988,401 |
Total | 133,696,483 | |
Software 2.4% | ||
8x8, Inc.(a) | 407,252 | 2,166,581 |
A10 Networks, Inc. | 233,000 | 3,546,260 |
Adeia, Inc. | 383,081 | 3,777,179 |
Agilysys, Inc.(a) | 72,200 | 5,769,502 |
Alarm.com Holdings, Inc.(a) | 181,992 | 9,250,653 |
Cerence, Inc.(a) | 143,604 | 3,931,878 |
Consensus Cloud Solutions, Inc.(a) | 64,347 | 2,640,801 |
Digital Turbine, Inc.(a) | 328,555 | 3,528,681 |
DoubleVerify Holdings, Inc.(a) | 270,536 | 7,106,981 |
Ebix, Inc. | 85,642 | 1,488,458 |
LivePerson, Inc.(a) | 255,444 | 2,585,093 |
LiveRamp Holdings, Inc.(a) | 242,394 | 5,727,770 |
OneSpan, Inc.(a) | 128,713 | 1,740,200 |
Progress Software Corp. | 156,785 | 9,005,730 |
SPS Commerce, Inc.(a) | 131,421 | 19,797,259 |
Xperi, Inc.(a) | 152,078 | 1,777,792 |
Total | 83,840,818 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Technology Hardware, Storage & Peripherals 0.2% | ||
Avid Technology, Inc.(a) | 121,077 | 3,518,498 |
Corsair Gaming, Inc.(a) | 140,003 | 2,450,052 |
Total | 5,968,550 | |
Total Information Technology | 464,629,254 | |
Materials 5.8% | ||
Chemicals 2.9% | ||
AdvanSix, Inc. | 100,519 | 4,136,357 |
American Vanguard Corp. | 101,394 | 2,116,093 |
Balchem Corp. | 117,175 | 15,232,750 |
FutureFuel Corp. | 94,149 | 823,804 |
Hawkins, Inc. | 68,978 | 2,805,335 |
HB Fuller Co. | 194,397 | 13,561,135 |
Innospec, Inc. | 90,302 | 9,884,457 |
Koppers Holdings, Inc. | 76,201 | 2,734,854 |
Livent Corp.(a),(e) | 654,058 | 15,337,660 |
Mativ Holdings, Inc. | 200,341 | 5,190,835 |
Minerals Technologies, Inc. | 118,324 | 7,188,183 |
Quaker Chemical Corp. | 49,693 | 9,728,895 |
Rayonier Advanced Materials, Inc.(a) | 233,260 | 1,912,732 |
Stepan Co. | 76,998 | 8,014,722 |
Trinseo PLC | 127,527 | 2,956,076 |
Total | 101,623,888 | |
Containers & Packaging 0.4% | ||
Myers Industries, Inc. | 133,080 | 3,438,787 |
O-I Glass, Inc.(a) | 565,686 | 12,569,543 |
Total | 16,008,330 | |
Metals & Mining 2.2% | ||
Arconic Corp.(a) | 370,049 | 9,784,096 |
ATI, Inc.(a) | 471,902 | 19,182,816 |
Carpenter Technology Corp. | 176,647 | 8,537,349 |
Century Aluminum Co.(a) | 186,526 | 2,251,369 |
Compass Minerals International, Inc. | 124,088 | 4,781,111 |
Haynes International, Inc. | 45,441 | 2,486,077 |
Kaiser Aluminum Corp. | 58,126 | 4,610,554 |
Materion Corp. | 74,852 | 8,359,471 |
Olympic Steel, Inc. | 34,902 | 1,832,355 |
SunCoke Energy, Inc. | 304,112 | 2,892,105 |
16 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
TimkenSteel Corp.(a) | 144,313 | 2,639,485 |
Tredegar Corp. | 91,745 | 1,066,077 |
Warrior Met Coal, Inc. | 188,348 | 7,208,078 |
Total | 75,630,943 | |
Paper & Forest Products 0.3% | ||
Clearwater Paper Corp.(a) | 61,043 | 2,355,649 |
Mercer International, Inc. | 147,173 | 1,586,525 |
Sylvamo Corp. | 120,603 | 5,949,346 |
Total | 9,891,520 | |
Total Materials | 203,154,681 | |
Real Estate 6.8% | ||
Equity Real Estate Investment Trusts (REITS) 6.2% | ||
Acadia Realty Trust | 346,245 | 5,044,790 |
Alexander & Baldwin, Inc. | 264,520 | 4,938,588 |
American Assets Trust, Inc. | 189,807 | 4,788,831 |
Armada Hoffler Properties, Inc. | 246,967 | 3,166,117 |
Brandywine Realty Trust | 625,602 | 3,684,796 |
CareTrust REIT, Inc. | 353,801 | 6,959,266 |
Centerspace | 54,947 | 3,440,232 |
Chatham Lodging Trust | 177,970 | 2,173,014 |
Community Healthcare Trust, Inc. | 85,791 | 3,323,543 |
DiamondRock Hospitality Co. | 763,452 | 6,657,301 |
Easterly Government Properties, Inc. | 330,989 | 4,997,934 |
Elme Communities | 319,117 | 5,938,767 |
Essential Properties Realty Trust, Inc. | 519,155 | 13,373,433 |
Four Corners Property Trust, Inc. | 305,880 | 8,304,642 |
Franklin Street Properties Corp. | 335,026 | 810,763 |
Getty Realty Corp. | 155,071 | 5,323,587 |
Global Net Lease, Inc. | 378,472 | 5,344,025 |
Hersha Hospitality Trust | 119,993 | 1,003,141 |
Hudson Pacific Properties, Inc. | 467,606 | 4,316,003 |
Industrial Logistics Properties Trust | 239,087 | 980,257 |
Innovative Industrial Properties, Inc. | 101,999 | 9,017,731 |
iStar, Inc. | 316,127 | 2,434,178 |
LTC Properties, Inc. | 147,695 | 5,290,435 |
LXP Industrial Trust | 1,005,379 | 10,486,103 |
NexPoint Residential Trust, Inc. | 82,913 | 4,015,476 |
Office Properties Income Trust | 177,088 | 2,911,327 |
Orion Office REIT, Inc. | 206,510 | 1,767,726 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Outfront Media, Inc. | 532,719 | 9,295,946 |
Retail Opportunity Investments Corp. | 454,122 | 6,462,156 |
RPT Realty | 310,847 | 3,332,280 |
Safehold, Inc. | 88,434 | 2,642,408 |
Saul Centers, Inc. | 47,050 | 1,850,006 |
Service Properties Trust | 603,298 | 6,624,212 |
SITE Centers Corp. | 674,155 | 9,013,452 |
Summit Hotel Properties, Inc. | 389,779 | 2,884,365 |
Sunstone Hotel Investors, Inc. | 767,189 | 8,109,188 |
Tanger Factory Outlet Centers, Inc. | 380,484 | 7,187,343 |
Uniti Group, Inc. | 864,912 | 4,748,367 |
Universal Health Realty Income Trust | 46,301 | 2,454,879 |
Urban Edge Properties | 428,219 | 6,594,573 |
Urstadt Biddle Properties, Inc., Class A | 108,858 | 1,883,243 |
Veris Residential, Inc.(a) | 288,947 | 4,663,604 |
Whitestone REIT | 169,273 | 1,599,630 |
Xenia Hotels & Resorts, Inc. | 415,128 | 5,828,397 |
Total | 215,666,055 | |
Real Estate Management & Development 0.6% | ||
Anywhere Real Estate, Inc.(a) | 399,201 | 2,311,374 |
Cushman & Wakefield PLC(a) | 592,694 | 7,669,460 |
Douglas Elliman, Inc. | 245,894 | 1,037,673 |
Marcus & Millichap, Inc. | 90,431 | 3,108,113 |
RE/MAX Holdings, Inc., Class A | 66,527 | 1,230,084 |
St. Joe Co. (The) | 123,373 | 5,284,066 |
Total | 20,640,770 | |
Total Real Estate | 236,306,825 | |
Utilities 2.2% | ||
Electric Utilities 0.3% | ||
Otter Tail Corp. | 152,195 | 10,789,104 |
Gas Utilities 0.4% | ||
Chesapeake Utilities Corp. | 64,690 | 8,286,142 |
Northwest Natural Holding Co. | 127,983 | 6,186,698 |
Total | 14,472,840 | |
Multi-Utilities 0.4% | ||
Avista Corp. | 269,012 | 11,061,773 |
Unitil Corp. | 58,487 | 3,177,014 |
Total | 14,238,787 |
Columbia Small Cap Index Fund | Annual Report 2023 | 17 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Water Utilities 1.1% | ||
American States Water Co. | 134,772 | 12,035,140 |
California Water Service Group | 199,907 | 11,442,677 |
Middlesex Water Co. | 64,318 | 4,920,327 |
SJW Corp. | 97,287 | 7,436,618 |
Total | 35,834,762 | |
Total Utilities | 75,335,493 | |
Total Common Stocks (Cost $2,318,362,854) | 3,411,303,069 | |
Exchange-Traded Equity Funds 1.4% | ||
Shares | Value ($) | |
U.S. Small Cap 1.4% | ||
iShares Core S&P Small-Cap ETF | 480,249 | 49,172,695 |
Total Exchange-Traded Equity Funds (Cost $47,814,649) | 49,172,695 | |
Money Market Funds 0.9% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(f),(g) | 30,298,650 | 30,286,530 |
Total Money Market Funds (Cost $30,286,530) | 30,286,530 | |
Total Investments in Securities (Cost: $2,396,464,033) | 3,490,762,294 | |
Other Assets & Liabilities, Net | 3,704,834 | |
Net Assets | 3,494,467,128 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Russell 2000 Index E-mini | 257 | 03/2023 | USD | 24,403,435 | 1,018,022 | — |
Russell 2000 Index E-mini | 87 | 03/2023 | USD | 8,261,085 | — | (45,166) |
Total | 1,018,022 | (45,166) |
(a) | Non-income producing investment. |
(b) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At February 28, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(c) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At February 28, 2023, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
OmniAb, Inc. | 09/03/2021 | 23,460 | — | — |
OmniAb, Inc. | 09/03/2021 | 23,460 | — | — |
— | — |
(d) | Valuation based on significant unobservable inputs. |
(e) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(f) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
18 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
(g) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
28,841,820 | 540,562,664 | (539,116,089) | (1,865) | 30,286,530 | (3,974) | 593,259 | 30,298,650 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 70,933,749 | — | — | 70,933,749 |
Consumer Discretionary | 464,761,258 | — | — | 464,761,258 |
Consumer Staples | 177,704,912 | — | — | 177,704,912 |
Energy | 158,877,032 | — | — | 158,877,032 |
Financials | 602,141,542 | — | — | 602,141,542 |
Columbia Small Cap Index Fund | Annual Report 2023 | 19 |
February 28, 2023
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Health Care | 361,202,346 | — | 0* | 361,202,346 |
Industrials | 596,255,977 | — | — | 596,255,977 |
Information Technology | 464,629,254 | — | — | 464,629,254 |
Materials | 203,154,681 | — | — | 203,154,681 |
Real Estate | 236,306,825 | — | — | 236,306,825 |
Utilities | 75,335,493 | — | — | 75,335,493 |
Total Common Stocks | 3,411,303,069 | — | 0* | 3,411,303,069 |
Exchange-Traded Equity Funds | 49,172,695 | — | — | 49,172,695 |
Money Market Funds | 30,286,530 | — | — | 30,286,530 |
Total Investments in Securities | 3,490,762,294 | — | 0* | 3,490,762,294 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 1,018,022 | — | — | 1,018,022 |
Liability | ||||
Futures Contracts | (45,166) | — | — | (45,166) |
Total | 3,491,735,150 | — | — | 3,491,735,150 |
* | Rounds to zero. |
20 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $2,366,177,503) | $3,460,475,764 |
Affiliated issuers (cost $30,286,530) | 30,286,530 |
Cash | 74,212 |
Receivable for: | |
Investments sold | 9,393,332 |
Capital shares sold | 2,938,268 |
Dividends | 2,491,474 |
Variation margin for futures contracts | 3,610 |
Expense reimbursement due from Investment Manager | 174 |
Total assets | 3,505,663,364 |
Liabilities | |
Payable for: | |
Investments purchased | 8,757,789 |
Capital shares purchased | 2,124,728 |
Variation margin for futures contracts | 1,312 |
Management services fees | 19,163 |
Distribution and/or service fees | 6,265 |
Compensation of board members | 286,979 |
Total liabilities | 11,196,236 |
Net assets applicable to outstanding capital stock | $3,494,467,128 |
Represented by | |
Paid in capital | 2,366,738,068 |
Total distributable earnings (loss) | 1,127,729,060 |
Total - representing net assets applicable to outstanding capital stock | $3,494,467,128 |
Class A | |
Net assets | $913,783,527 |
Shares outstanding | 38,219,493 |
Net asset value per share | $23.91 |
Institutional Class | |
Net assets | $1,226,987,413 |
Shares outstanding | 50,799,652 |
Net asset value per share | $24.15 |
Institutional 2 Class | |
Net assets | $1,045,398,839 |
Shares outstanding | 41,977,240 |
Net asset value per share | $24.90 |
Institutional 3 Class | |
Net assets | $308,297,349 |
Shares outstanding | 13,216,077 |
Net asset value per share | $23.33 |
Columbia Small Cap Index Fund | Annual Report 2023 | 21 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $53,909,469 |
Dividends — affiliated issuers | 593,259 |
Interfund lending | 563 |
Foreign taxes withheld | (51,129) |
Total income | 54,452,162 |
Expenses: | |
Management services fees | 7,223,326 |
Distribution and/or service fees | |
Class A | 2,332,083 |
Compensation of board members | 54,967 |
Interest on collateral | 878 |
Interest on interfund lending | 338 |
Other | 1,016 |
Total expenses | 9,612,608 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (55,983) |
Expense reduction | (1,190) |
Total net expenses | 9,555,435 |
Net investment income | 44,896,727 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 254,280,402 |
Investments — affiliated issuers | (3,974) |
Foreign currency translations | (64) |
Futures contracts | (2,775,498) |
Net realized gain | 251,500,866 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (472,445,729) |
Investments — affiliated issuers | (1,865) |
Futures contracts | 393,774 |
Net change in unrealized appreciation (depreciation) | (472,053,820) |
Net realized and unrealized loss | (220,552,954) |
Net decrease in net assets resulting from operations | $(175,656,227) |
22 | Columbia Small Cap Index Fund | Annual Report 2023 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $44,896,727 | $45,699,215 |
Net realized gain | 251,500,866 | 319,392,353 |
Net change in unrealized appreciation (depreciation) | (472,053,820) | (183,269,121) |
Net increase (decrease) in net assets resulting from operations | (175,656,227) | 181,822,447 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (86,885,916) | (90,877,215) |
Institutional Class | (126,559,674) | (151,339,217) |
Institutional 2 Class | (97,975,094) | (97,402,387) |
Institutional 3 Class | (25,250,419) | (7,395,880) |
Total distributions to shareholders | (336,671,103) | (347,014,699) |
Decrease in net assets from capital stock activity | (118,293,670) | (122,118,941) |
Total decrease in net assets | (630,621,000) | (287,311,193) |
Net assets at beginning of year | 4,125,088,128 | 4,412,399,321 |
Net assets at end of year | $3,494,467,128 | $4,125,088,128 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 5,173,973 | 126,295,715 | 6,871,306 | 203,973,849 |
Distributions reinvested | 3,224,938 | 73,409,867 | 2,667,184 | 78,041,984 |
Redemptions | (9,088,840) | (222,996,349) | (11,669,698) | (345,770,746) |
Net decrease | (689,929) | (23,290,767) | (2,131,208) | (63,754,913) |
Institutional Class | ||||
Subscriptions | 6,107,262 | 151,535,556 | 8,209,632 | 245,235,326 |
Distributions reinvested | 4,843,315 | 111,341,135 | 3,953,756 | 116,597,000 |
Redemptions | (23,649,498) | (580,067,718) | (14,989,733) | (448,800,004) |
Net decrease | (12,698,921) | (317,191,027) | (2,826,345) | (86,967,678) |
Institutional 2 Class | ||||
Subscriptions | 10,145,684 | 257,112,604 | 13,891,385 | 427,539,854 |
Distributions reinvested | 3,808,877 | 90,214,110 | 2,970,935 | 89,977,964 |
Redemptions | (14,010,374) | (354,455,313) | (16,428,592) | (508,690,062) |
Net increase (decrease) | (55,813) | (7,128,599) | 433,728 | 8,827,756 |
Institutional 3 Class | ||||
Subscriptions | 11,358,951 | 265,349,587 | 1,704,017 | 49,590,547 |
Distributions reinvested | 332,921 | 7,400,872 | 193,333 | 5,532,686 |
Redemptions | (1,855,253) | (43,433,736) | (1,212,485) | (35,347,339) |
Net increase | 9,836,619 | 229,316,723 | 684,865 | 19,775,894 |
Total net decrease | (3,608,044) | (118,293,670) | (3,838,960) | (122,118,941) |
Columbia Small Cap Index Fund | Annual Report 2023 | 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 | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $27.52 | 0.26 | (1.51) | (1.25) | (0.28) | (2.08) | (2.36) |
Year Ended 2/28/2022 | $28.74 | 0.25 | 0.90 | 1.15 | (0.27) | (2.10) | (2.37) |
Year Ended 2/28/2021 | $20.32 | 0.18 | 8.97 | 9.15 | (0.22) | (0.51) | (0.73) |
Year Ended 2/29/2020 | $23.54 | 0.24 | (2.00) | (1.76) | (0.26) | (1.20) | (1.46) |
Year Ended 2/28/2019 | $24.33 | 0.23 | 1.32 | 1.55 | (0.23) | (2.11) | (2.34) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $27.77 | 0.32 | (1.53) | (1.21) | (0.33) | (2.08) | (2.41) |
Year Ended 2/28/2022 | $28.96 | 0.33 | 0.91 | 1.24 | (0.33) | (2.10) | (2.43) |
Year Ended 2/28/2021 | $20.47 | 0.24 | 9.03 | 9.27 | (0.27) | (0.51) | (0.78) |
Year Ended 2/29/2020 | $23.69 | 0.30 | (2.02) | (1.72) | (0.30) | (1.20) | (1.50) |
Year Ended 2/28/2019 | $24.47 | 0.29 | 1.33 | 1.62 | (0.29) | (2.11) | (2.40) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $28.55 | 0.33 | (1.57) | (1.24) | (0.33) | (2.08) | (2.41) |
Year Ended 2/28/2022 | $29.71 | 0.34 | 0.93 | 1.27 | (0.33) | (2.10) | (2.43) |
Year Ended 2/28/2021 | $20.98 | 0.25 | 9.26 | 9.51 | (0.27) | (0.51) | (0.78) |
Year Ended 2/29/2020 | $24.25 | 0.30 | (2.07) | (1.77) | (0.30) | (1.20) | (1.50) |
Year Ended 2/28/2019 | $24.99 | 0.30 | 1.36 | 1.66 | (0.29) | (2.11) | (2.40) |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $26.91 | 0.33 | (1.50) | (1.17) | (0.33) | (2.08) | (2.41) |
Year Ended 2/28/2022 | $28.13 | 0.32 | 0.89 | 1.21 | (0.33) | (2.10) | (2.43) |
Year Ended 2/28/2021 | $19.91 | 0.23 | 8.77 | 9.00 | (0.27) | (0.51) | (0.78) |
Year Ended 2/29/2020 | $23.08 | 0.29 | (1.96) | (1.67) | (0.30) | (1.20) | (1.50) |
Year Ended 2/28/2019 | $23.90 | 0.29 | 1.29 | 1.58 | (0.29) | (2.11) | (2.40) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
24 | Columbia Small Cap Index Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $23.91 | (3.93%) | 0.45%(c),(d) | 0.45%(c),(d),(e) | 1.06% | 16% | $913,784 |
Year Ended 2/28/2022 | $27.52 | 3.62% | 0.45%(c) | 0.45%(c),(e) | 0.84% | 13% | $1,070,943 |
Year Ended 2/28/2021 | $28.74 | 46.15% | 0.45%(d) | 0.45%(d),(e) | 0.89% | 24% | $1,179,484 |
Year Ended 2/29/2020 | $20.32 | (8.08%) | 0.45%(d) | 0.45%(d),(e) | 1.04% | 17% | $1,032,677 |
Year Ended 2/28/2019 | $23.54 | 6.70% | 0.45% | 0.45%(e) | 0.89% | 22% | $1,440,665 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $24.15 | (3.72%) | 0.20%(c),(d) | 0.20%(c),(d),(e) | 1.29% | 16% | $1,226,987 |
Year Ended 2/28/2022 | $27.77 | 3.92% | 0.20%(c) | 0.20%(c),(e) | 1.09% | 13% | $1,763,233 |
Year Ended 2/28/2021 | $28.96 | 46.46% | 0.20%(d) | 0.20%(d),(e) | 1.14% | 24% | $1,920,981 |
Year Ended 2/29/2020 | $20.47 | (7.85%) | 0.20%(d) | 0.20%(d),(e) | 1.29% | 17% | $1,603,859 |
Year Ended 2/28/2019 | $23.69 | 6.99% | 0.20% | 0.20%(e) | 1.14% | 22% | $2,026,925 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $24.90 | (3.73%) | 0.20%(c),(d) | 0.20%(c),(d) | 1.31% | 16% | $1,045,399 |
Year Ended 2/28/2022 | $28.55 | 3.92% | 0.20%(c) | 0.20%(c) | 1.09% | 13% | $1,199,980 |
Year Ended 2/28/2021 | $29.71 | 46.48% | 0.20%(d) | 0.20%(d) | 1.12% | 24% | $1,236,122 |
Year Ended 2/29/2020 | $20.98 | (7.87%) | 0.20%(d) | 0.20%(d) | 1.29% | 17% | $638,046 |
Year Ended 2/28/2019 | $24.25 | 7.01% | 0.20% | 0.20% | 1.14% | 22% | $748,749 |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $23.33 | (3.69%) | 0.20%(c),(d) | 0.20%(c),(d) | 1.41% | 16% | $308,297 |
Year Ended 2/28/2022 | $26.91 | 3.93% | 0.20%(c) | 0.20%(c) | 1.09% | 13% | $90,933 |
Year Ended 2/28/2021 | $28.13 | 46.41% | 0.20%(d) | 0.20%(d) | 1.16% | 24% | $75,812 |
Year Ended 2/29/2020 | $19.91 | (7.84%) | 0.20%(d) | 0.20%(d) | 1.30% | 17% | $82,471 |
Year Ended 2/28/2019 | $23.08 | 6.99% | 0.20% | 0.20% | 1.16% | 22% | $70,934 |
Columbia Small Cap Index Fund | Annual Report 2023 | 25 |
February 28, 2023
26 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Small Cap Index Fund | Annual Report 2023 | 27 |
February 28, 2023
28 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 1,018,022* |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 45,166* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (2,775,498) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 393,774 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 30,145,940 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2023. |
Columbia Small Cap Index Fund | Annual Report 2023 | 29 |
February 28, 2023
30 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Small Cap Index Fund | Annual Report 2023 | 31 |
February 28, 2023
Fee rate(s) contractual through June 30, 2023 | |
Class A | 0.45% |
Institutional Class | 0.20 |
Institutional 2 Class | 0.20 |
Institutional 3 Class | 0.20 |
32 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(65) | 65 | — |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
43,578,562 | 293,092,541 | 336,671,103 | 71,711,256 | 275,303,443 | 347,014,699 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
1,302,574 | 63,028,185 | — | 1,063,682,847 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
2,428,052,303 | 1,394,878,503 | (331,195,656) | 1,063,682,847 |
Columbia Small Cap Index Fund | Annual Report 2023 | 33 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 2,800,000 | 4.35 | 1 |
Lender | 3,550,000 | 2.85 | 2 |
34 | Columbia Small Cap Index Fund | Annual Report 2023 |
February 28, 2023
Columbia Small Cap Index Fund | Annual Report 2023 | 35 |
February 28, 2023
36 | Columbia Small Cap Index Fund | Annual Report 2023 |
Columbia Small Cap Index Fund | Annual Report 2023 | 37 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
95.16% | 90.30% | 4.84% | $262,006,047 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
38 | Columbia Small Cap Index Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Small Cap Index Fund | Annual Report 2023 | 39 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
40 | Columbia Small Cap Index Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
Columbia Small Cap Index Fund | Annual Report 2023 | 41 |
(Unaudited)
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
42 | Columbia Small Cap Index Fund | Annual Report 2023 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
Columbia Small Cap Index Fund | Annual Report 2023 | 43 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img3dfc05f02.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgfbbc855c1.jpg)
February 28, 2023
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(Unaudited)
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Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 05/01/02 | -4.97 | 6.73 | 8.98 |
Including sales charges | -10.44 | 5.48 | 8.34 | ||
Advisor Class | 11/08/12 | -4.83 | 6.98 | 9.24 | |
Class C | Excluding sales charges | 05/01/02 | -5.72 | 5.91 | 8.17 |
Including sales charges | -6.59 | 5.91 | 8.17 | ||
Institutional Class | 05/01/02 | -4.81 | 6.99 | 9.26 | |
Institutional 2 Class | 11/08/12 | -4.64 | 7.15 | 9.42 | |
Institutional 3 Class | 11/08/12 | -4.58 | 7.20 | 9.47 | |
Class R | 01/23/06 | -5.32 | 6.44 | 8.71 | |
Russell 2000 Value Index | -4.40 | 6.38 | 8.46 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgaf6d79bd4.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 95.6 |
Exchange-Traded Equity Funds | 1.9 |
Money Market Funds | 2.5 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 1.5 |
Consumer Discretionary | 11.0 |
Consumer Staples | 4.6 |
Energy | 5.5 |
Financials | 24.8 |
Health Care | 6.0 |
Industrials | 20.1 |
Information Technology | 7.0 |
Materials | 7.5 |
Real Estate | 6.9 |
Utilities | 5.1 |
Total | 100.0 |
4 | Columbia Small Cap Value Fund II | Annual Report 2023 |
(Unaudited)
• | Stock selection, particularly within the financials and energy sectors, was the most significant source of the Fund’s underperformance during the period. |
• | Global boutique fitness franchisor F45 Training Holdings, Inc. was a top detractor, falling on concerns over weaker-than-expected results driven by discounting and macroeconomic considerations that tempered the company’s outlook for continued growth and expansion. The Fund sold its position in the company. |
• | Hospital services provider Tenet Healthcare Corp. fell on concerns over labor costs, COVID-19-related challenges and lowered guidance. The Fund sold its position in the company. |
• | Specialty computing solutions provider SMART Global Holdings, Inc. fell primarily due to weakness reported in its Brazil consumer segment. The Fund sold its position in the company. |
Columbia Small Cap Value Fund II | Annual Report 2023 | 5 |
(Unaudited)
• | Semiconductor company MagnaChip Semiconductor Corp. fell as supply chain issues have weighed on margins. A potential acquisition of the company by a Chinese private equity firm was also blocked by the U.S. government over security concerns. The Fund sold its position in the company. |
• | Dallas-based banking company Triumph Financial, Inc. fell on concerns over poor results and reduced guidance, particularly due to weakness in its transportation financing business. |
• | Strong overall sector allocation and strong stock selection within the materials, industrials and communication services sectors proved insufficient to offset weaker results elsewhere in the portfolio. |
• | Top individual performers for the fourth quarter included footwear maker Crocs, Inc., which benefited from its strong quarterly results, improved forward guidance and expectations for a casual footwear trend. |
• | Also helping relative results were engineered products provider Materion Corp., which rebounded sharply from a steep plunge late in the prior period when the company posted record results that nonetheless disappointed investors who had higher expectations. |
• | Glass packaging maker O-I Glass, Inc. was an additional noteworthy contributor, rising after reporting strong results and favorable guidance driven by increased pricing power. |
6 | Columbia Small Cap Value Fund II | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,059.50 | 1,018.50 | 6.49 | 6.36 | 1.27 |
Advisor Class | 1,000.00 | 1,000.00 | 1,060.30 | 1,019.74 | 5.21 | 5.11 | 1.02 |
Class C | 1,000.00 | 1,000.00 | 1,054.80 | 1,014.78 | 10.29 | 10.09 | 2.02 |
Institutional Class | 1,000.00 | 1,000.00 | 1,060.40 | 1,019.74 | 5.21 | 5.11 | 1.02 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,061.30 | 1,020.43 | 4.50 | 4.41 | 0.88 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,061.50 | 1,020.68 | 4.24 | 4.16 | 0.83 |
Class R | 1,000.00 | 1,000.00 | 1,057.40 | 1,017.26 | 7.75 | 7.60 | 1.52 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 95.9% | ||
Issuer | Shares | Value ($) |
Communication Services 1.4% | ||
Interactive Media & Services 0.5% | ||
Ziff Davis, Inc.(a) | 84,900 | 6,705,402 |
Media 0.9% | ||
Nexstar Media Group, Inc., Class A | 64,400 | 11,971,960 |
Total Communication Services | 18,677,362 | |
Consumer Discretionary 10.5% | ||
Hotels, Restaurants & Leisure 3.6% | ||
Brinker International, Inc.(a) | 225,100 | 8,553,800 |
International Game Technology PLC | 690,000 | 18,326,400 |
Light & Wonder, Inc.(a) | 198,000 | 12,396,780 |
Red Rock Resorts, Inc., Class A | 167,800 | 7,327,826 |
Total | 46,604,806 | |
Household Durables 1.0% | ||
KB Home | 379,000 | 13,367,330 |
Multiline Retail 0.6% | ||
Macy’s, Inc. | 372,700 | 7,625,442 |
Specialty Retail 4.7% | ||
American Eagle Outfitters, Inc. | 534,200 | 7,676,454 |
Foot Locker, Inc. | 253,700 | 11,091,764 |
Genesco, Inc.(a) | 121,689 | 5,472,354 |
Group 1 Automotive, Inc. | 63,200 | 13,971,624 |
Hibbett, Inc. | 199,520 | 14,351,474 |
Signet Jewelers Ltd. | 136,100 | 9,747,482 |
Total | 62,311,152 | |
Textiles, Apparel & Luxury Goods 0.6% | ||
Crocs, Inc.(a) | 69,900 | 8,507,529 |
Total Consumer Discretionary | 138,416,259 | |
Consumer Staples 4.4% | ||
Food & Staples Retailing 2.7% | ||
BJ’s Wholesale Club Holdings, Inc.(a) | 73,600 | 5,284,480 |
The Chefs’ Warehouse(a) | 418,800 | 13,631,940 |
United Natural Foods, Inc.(a) | 413,400 | 16,837,782 |
Total | 35,754,202 | |
Food Products 1.2% | ||
TreeHouse Foods, Inc.(a) | 318,000 | 15,515,220 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Personal Products 0.5% | ||
BellRing Brands, Inc.(a) | 201,240 | 6,214,291 |
Total Consumer Staples | 57,483,713 | |
Energy 5.3% | ||
Energy Equipment & Services 1.8% | ||
Helmerich & Payne, Inc. | 196,100 | 8,251,888 |
Transocean Ltd.(a) | 2,126,600 | 14,864,934 |
Total | 23,116,822 | |
Oil, Gas & Consumable Fuels 3.5% | ||
Civitas Resources, Inc. | 245,800 | 17,247,786 |
Equitrans Midstream Corp. | 919,700 | 5,545,791 |
Golar LNG Ltd.(a) | 559,200 | 12,766,536 |
Murphy Oil Corp. | 265,300 | 10,352,006 |
Total | 45,912,119 | |
Total Energy | 69,028,941 | |
Financials 23.8% | ||
Banks 13.7% | ||
Ameris Bancorp | 335,200 | 16,046,024 |
Atlantic Union Bankshares Corp. | 445,575 | 16,691,239 |
Bancorp, Inc. (The)(a) | 490,300 | 16,959,477 |
Cathay General Bancorp | 409,500 | 17,575,740 |
Community Bank System, Inc. | 203,711 | 12,436,557 |
Hancock Whitney Corp. | 342,900 | 16,843,248 |
Independent Bank Corp. | 156,268 | 12,451,434 |
Independent Bank Group, Inc. | 145,300 | 8,552,358 |
Pacific Premier Bancorp, Inc. | 255,964 | 8,298,353 |
Renasant Corp. | 231,100 | 8,314,978 |
Sandy Spring Bancorp, Inc. | 299,300 | 9,861,935 |
South State Corp. | 64,300 | 5,187,724 |
Triumph Financial, Inc.(a) | 114,455 | 6,964,587 |
UMB Financial Corp. | 190,862 | 17,303,549 |
United Bankshares, Inc. | 162,100 | 6,608,817 |
Total | 180,096,020 |
8 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Capital Markets 2.9% | ||
Focus Financial Partners, Inc., Class A(a) | 268,500 | 13,924,410 |
Houlihan Lokey, Inc., Class A | 158,900 | 15,206,730 |
Stifel Financial Corp. | 126,900 | 8,480,727 |
Total | 37,611,867 | |
Consumer Finance 0.4% | ||
SLM Corp. | 325,100 | 4,674,938 |
Insurance 1.7% | ||
AMERISAFE, Inc. | 182,700 | 9,964,458 |
Argo Group International Holdings Ltd. | 437,300 | 12,703,565 |
Total | 22,668,023 | |
Mortgage Real Estate Investment Trusts (REITS) 1.1% | ||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 228,900 | 7,189,749 |
Starwood Property Trust, Inc. | 400,700 | 7,677,412 |
Total | 14,867,161 | |
Thrifts & Mortgage Finance 4.0% | ||
Axos Financial, Inc.(a) | 299,800 | 14,207,522 |
MGIC Investment Corp. | 895,600 | 12,323,456 |
Radian Group, Inc. | 543,200 | 11,597,320 |
WSFS Financial Corp. | 299,800 | 14,963,018 |
Total | 53,091,316 | |
Total Financials | 313,009,325 | |
Health Care 5.8% | ||
Biotechnology 2.0% | ||
Agios Pharmaceuticals, Inc.(a) | 133,200 | 3,371,292 |
Arcutis Biotherapeutics, Inc.(a) | 210,467 | 3,405,356 |
Ideaya Biosciences, Inc.(a) | 225,500 | 3,980,075 |
Immunocore Holdings PLC, ADR(a) | 44,800 | 2,457,280 |
Insmed, Inc.(a) | 153,100 | 3,120,178 |
IVERIC bio, Inc.(a) | 173,800 | 3,611,564 |
Sage Therapeutics, Inc.(a) | 136,300 | 5,675,532 |
Total | 25,621,277 | |
Health Care Equipment & Supplies 2.2% | ||
Haemonetics Corp.(a) | 192,900 | 15,001,833 |
Merit Medical Systems, Inc.(a) | 164,600 | 11,617,468 |
Varex Imaging Corp.(a) | 152,800 | 2,703,032 |
Total | 29,322,333 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care Providers & Services 0.6% | ||
AdaptHealth Corp.(a) | 503,894 | 8,057,265 |
Pharmaceuticals 1.0% | ||
Amylyx Pharmaceuticals, Inc.(a) | 87,000 | 3,029,340 |
Prestige Consumer Healthcare, Inc.(a) | 168,300 | 10,140,075 |
Total | 13,169,415 | |
Total Health Care | 76,170,290 | |
Industrials 19.2% | ||
Aerospace & Defense 2.0% | ||
Moog, Inc., Class A | 161,565 | 15,933,540 |
Parsons Corp.(a) | 223,500 | 10,064,205 |
Total | 25,997,745 | |
Airlines 0.5% | ||
JetBlue Airways Corp.(a) | 781,000 | 6,482,300 |
Commercial Services & Supplies 1.2% | ||
ABM Industries, Inc. | 319,900 | 15,486,359 |
Construction & Engineering 2.5% | ||
API Group Corp.(a) | 784,700 | 18,432,603 |
EMCOR Group, Inc. | 85,600 | 14,314,032 |
Total | 32,746,635 | |
Electrical Equipment 0.8% | ||
Bloom Energy Corp., Class A(a) | 529,000 | 11,474,010 |
Machinery 0.8% | ||
Evoqua Water Technologies Corp.(a) | 216,400 | 10,508,384 |
Marine 0.6% | ||
Star Bulk Carriers Corp. | 333,200 | 8,166,732 |
Professional Services 3.6% | ||
Alight, Inc., Class A(a) | 785,200 | 7,537,920 |
ICF International, Inc. | 128,500 | 12,784,465 |
KBR, Inc. | 228,000 | 12,565,080 |
Science Applications International Corp. | 133,100 | 14,193,784 |
Total | 47,081,249 | |
Road & Rail 1.6% | ||
ArcBest Corp. | 119,500 | 11,495,900 |
Heartland Express, Inc. | 605,000 | 9,758,650 |
Total | 21,254,550 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 9 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Trading Companies & Distributors 5.6% | ||
Beacon Roofing Supply, Inc.(a) | 179,700 | 11,680,500 |
Core & Main, Inc., Class A(a) | 484,700 | 11,298,357 |
FTAI Aviation Ltd. | 344,693 | 8,710,392 |
Herc Holdings Inc | 111,600 | 16,024,644 |
Triton International Ltd. | 173,800 | 11,981,772 |
Univar, Inc.(a) | 396,500 | 13,778,375 |
Total | 73,474,040 | |
Total Industrials | 252,672,004 | |
Information Technology 6.7% | ||
Communications Equipment 0.8% | ||
Extreme Networks, Inc.(a) | 533,700 | 9,990,864 |
Electronic Equipment, Instruments & Components 1.8% | ||
Coherent Corp.(a) | 150,700 | 6,499,691 |
Knowles Corp.(a) | 380,300 | 6,457,494 |
Vishay Intertechnology, Inc. | 477,200 | 10,130,956 |
Total | 23,088,141 | |
IT Services 0.7% | ||
ExlService Holdings, Inc.(a) | 59,500 | 9,788,345 |
Semiconductors & Semiconductor Equipment 2.8% | ||
Amkor Technology, Inc. | 197,000 | 5,074,720 |
Diodes, Inc.(a) | 142,628 | 13,077,561 |
Rambus, Inc.(a) | 235,900 | 10,433,857 |
Ultra Clean Holdings, Inc.(a) | 266,200 | 8,481,132 |
Total | 37,067,270 | |
Software 0.6% | ||
Cerence, Inc.(a) | 292,700 | 8,014,126 |
Total Information Technology | 87,948,746 | |
Materials 7.2% | ||
Chemicals 2.9% | ||
Ashland, Inc. | 84,000 | 8,549,520 |
Avient Corp. | 102,732 | 4,482,197 |
Cabot Corp. | 197,300 | 15,691,269 |
HB Fuller Co. | 143,600 | 10,017,536 |
Total | 38,740,522 | |
Containers & Packaging 1.4% | ||
O-I Glass, Inc.(a) | 817,400 | 18,162,628 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Metals & Mining 2.9% | ||
ATI, Inc.(a) | 340,700 | 13,849,455 |
Materion Corp. | 140,500 | 15,691,040 |
Ryerson Holding Corp. | 226,400 | 8,134,552 |
Total | 37,675,047 | |
Total Materials | 94,578,197 | |
Real Estate 6.7% | ||
Equity Real Estate Investment Trusts (REITS) 6.7% | ||
American Assets Trust, Inc. | 304,000 | 7,669,920 |
Apple Hospitality REIT, Inc. | 711,300 | 11,743,563 |
First Industrial Realty Trust, Inc. | 184,900 | 9,753,475 |
Kite Realty Group Trust | 744,000 | 16,159,680 |
NetSTREIT Corp. | 328,900 | 6,640,491 |
Rayonier, Inc. | 312,400 | 10,490,392 |
STAG Industrial, Inc. | 296,200 | 9,964,168 |
Tanger Factory Outlet Centers, Inc. | 793,400 | 14,987,326 |
Total | 87,409,015 | |
Total Real Estate | 87,409,015 | |
Utilities 4.9% | ||
Electric Utilities 1.2% | ||
Portland General Electric Co. | 336,257 | 16,073,085 |
Gas Utilities 2.7% | ||
New Jersey Resources Corp. | 384,900 | 19,641,447 |
ONE Gas, Inc. | 201,500 | 16,152,240 |
Total | 35,793,687 | |
Independent Power and Renewable Electricity Producers 1.0% | ||
Clearway Energy, Inc., Class C | 407,800 | 12,808,998 |
Total Utilities | 64,675,770 | |
Total Common Stocks (Cost $913,011,803) | 1,260,069,622 | |
Exchange-Traded Equity Funds 1.9% | ||
Shares | Value ($) | |
Sector 1.9% | ||
SPDR S&P Biotech ETF(a) | 293,300 | 24,299,905 |
Total Exchange-Traded Equity Funds (Cost $25,221,457) | 24,299,905 | |
10 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Money Market Funds 2.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(b),(c) | 33,135,210 | 33,121,956 |
Total Money Market Funds (Cost $33,119,559) | 33,121,956 | |
Total Investments in Securities (Cost: $971,352,819) | 1,317,491,483 | |
Other Assets & Liabilities, Net | (4,031,075) | |
Net Assets | 1,313,460,408 |
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
61,955,773 | 511,848,040 | (540,685,017) | 3,160 | 33,121,956 | 6,406 | 855,160 | 33,135,210 |
ADR | American Depositary Receipt |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Small Cap Value Fund II | Annual Report 2023 | 11 |
February 28, 2023
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 | ||||
Common Stocks | ||||
Communication Services | 18,677,362 | — | — | 18,677,362 |
Consumer Discretionary | 138,416,259 | — | — | 138,416,259 |
Consumer Staples | 57,483,713 | — | — | 57,483,713 |
Energy | 69,028,941 | — | — | 69,028,941 |
Financials | 313,009,325 | — | — | 313,009,325 |
Health Care | 76,170,290 | — | — | 76,170,290 |
Industrials | 252,672,004 | — | — | 252,672,004 |
Information Technology | 87,948,746 | — | — | 87,948,746 |
Materials | 94,578,197 | — | — | 94,578,197 |
Real Estate | 87,409,015 | — | — | 87,409,015 |
Utilities | 64,675,770 | — | — | 64,675,770 |
Total Common Stocks | 1,260,069,622 | — | — | 1,260,069,622 |
Exchange-Traded Equity Funds | 24,299,905 | — | — | 24,299,905 |
Money Market Funds | 33,121,956 | — | — | 33,121,956 |
Total Investments in Securities | 1,317,491,483 | — | — | 1,317,491,483 |
12 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $938,233,260) | $1,284,369,527 |
Affiliated issuers (cost $33,119,559) | 33,121,956 |
Receivable for: | |
Investments sold | 3,754,975 |
Capital shares sold | 1,845,616 |
Dividends | 1,347,519 |
Expense reimbursement due from Investment Manager | 1,284 |
Prepaid expenses | 11,616 |
Total assets | 1,324,452,493 |
Liabilities | |
Payable for: | |
Investments purchased | 9,640,526 |
Capital shares purchased | 918,881 |
Management services fees | 29,854 |
Distribution and/or service fees | 656 |
Transfer agent fees | 151,924 |
Compensation of board members | 165,750 |
Compensation of chief compliance officer | 251 |
Other expenses | 84,243 |
Total liabilities | 10,992,085 |
Net assets applicable to outstanding capital stock | $1,313,460,408 |
Represented by | |
Paid in capital | 934,030,968 |
Total distributable earnings (loss) | 379,429,440 |
Total - representing net assets applicable to outstanding capital stock | $1,313,460,408 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 13 |
February 28, 2023
Class A | |
Net assets | $84,579,867 |
Shares outstanding | 5,129,991 |
Net asset value per share | $16.49 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $17.50 |
Advisor Class | |
Net assets | $84,624,450 |
Shares outstanding | 4,859,717 |
Net asset value per share | $17.41 |
Class C | |
Net assets | $1,334,954 |
Shares outstanding | 100,211 |
Net asset value per share | $13.32 |
Institutional Class | |
Net assets | $376,006,940 |
Shares outstanding | 22,268,744 |
Net asset value per share | $16.88 |
Institutional 2 Class | |
Net assets | $201,436,393 |
Shares outstanding | 11,517,425 |
Net asset value per share | $17.49 |
Institutional 3 Class | |
Net assets | $562,816,404 |
Shares outstanding | 32,036,831 |
Net asset value per share | $17.57 |
Class R | |
Net assets | $2,661,400 |
Shares outstanding | 166,085 |
Net asset value per share | $16.02 |
14 | Columbia Small Cap Value Fund II | Annual Report 2023 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $22,987,727 |
Dividends — affiliated issuers | 855,160 |
Interfund lending | 1,901 |
Foreign taxes withheld | (45,943) |
Total income | 23,798,845 |
Expenses: | |
Management services fees | 10,882,897 |
Distribution and/or service fees | |
Class A | 210,455 |
Class C | 13,524 |
Class R | 12,191 |
Transfer agent fees | |
Class A | 178,015 |
Advisor Class | 219,741 |
Class C | 2,862 |
Institutional Class | 845,391 |
Institutional 2 Class | 114,481 |
Institutional 3 Class | 40,534 |
Class R | 5,164 |
Compensation of board members | 26,082 |
Custodian fees | 18,904 |
Printing and postage fees | 187,106 |
Registration fees | 158,474 |
Audit fees | 36,840 |
Legal fees | 31,066 |
Compensation of chief compliance officer | 246 |
Other | 30,997 |
Total expenses | 13,014,970 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (655,412) |
Expense reduction | (100) |
Total net expenses | 12,359,458 |
Net investment income | 11,439,387 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 89,786,108 |
Investments — affiliated issuers | 6,406 |
Net realized gain | 89,792,514 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (172,539,910) |
Investments — affiliated issuers | 3,160 |
Net change in unrealized appreciation (depreciation) | (172,536,750) |
Net realized and unrealized loss | (82,744,236) |
Net decrease in net assets resulting from operations | $(71,304,849) |
Columbia Small Cap Value Fund II | Annual Report 2023 | 15 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $11,439,387 | $3,918,259 |
Net realized gain | 89,792,514 | 180,509,539 |
Net change in unrealized appreciation (depreciation) | (172,536,750) | (17,518,707) |
Net increase (decrease) in net assets resulting from operations | (71,304,849) | 166,909,091 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (4,947,604) | (11,132,679) |
Advisor Class | (5,870,779) | (15,473,174) |
Class C | (93,614) | (172,699) |
Institutional Class | (23,831,903) | (54,172,778) |
Institutional 2 Class | (11,602,604) | (27,431,969) |
Institutional 3 Class | (30,647,862) | (86,013,104) |
Class R | (130,677) | (505,702) |
Total distributions to shareholders | (77,125,043) | (194,902,105) |
Increase (decrease) in net assets from capital stock activity | (141,121,623) | 295,265,372 |
Total increase (decrease) in net assets | (289,551,515) | 267,272,358 |
Net assets at beginning of year | 1,603,011,923 | 1,335,739,565 |
Net assets at end of year | $1,313,460,408 | $1,603,011,923 |
16 | Columbia Small Cap Value Fund II | Annual Report 2023 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,302,848 | 21,614,478 | 1,904,995 | 37,448,934 |
Fund reorganization | — | — | 102,798 | 1,822,064 |
Distributions reinvested | 284,058 | 4,375,929 | 515,548 | 10,020,650 |
Redemptions | (1,391,997) | (22,891,077) | (1,280,388) | (25,009,568) |
Net increase | 194,909 | 3,099,330 | 1,242,953 | 24,282,080 |
Advisor Class | ||||
Subscriptions | 5,646,799 | 96,885,655 | 3,499,219 | 71,418,698 |
Fund reorganization | — | — | 4,247,560 | 79,222,767 |
Distributions reinvested | 306,458 | 5,038,527 | 669,131 | 13,759,766 |
Redemptions | (10,273,093) | (184,029,552) | (6,142,833) | (124,064,664) |
Net increase (decrease) | (4,319,836) | (82,105,370) | 2,273,077 | 40,336,567 |
Class C | ||||
Subscriptions | 22,275 | 308,111 | 70,460 | 1,155,402 |
Distributions reinvested | 7,376 | 92,070 | 10,663 | 171,009 |
Redemptions | (26,154) | (351,927) | (20,474) | (333,741) |
Net increase | 3,497 | 48,254 | 60,649 | 992,670 |
Institutional Class | ||||
Subscriptions | 9,868,882 | 174,150,843 | 8,709,443 | 176,726,803 |
Distributions reinvested | 1,353,087 | 21,322,406 | 2,485,306 | 49,323,735 |
Redemptions | (11,456,661) | (192,201,504) | (6,068,437) | (120,323,290) |
Net increase (decrease) | (234,692) | 3,271,745 | 5,126,312 | 105,727,248 |
Institutional 2 Class | ||||
Subscriptions | 3,928,838 | 69,110,773 | 4,554,026 | 92,890,951 |
Distributions reinvested | 709,576 | 11,598,977 | 1,337,272 | 27,417,036 |
Redemptions | (4,568,501) | (80,758,011) | (5,903,551) | (123,227,966) |
Net increase (decrease) | 69,913 | (48,261) | (12,253) | (2,919,979) |
Institutional 3 Class | ||||
Subscriptions | 14,798,985 | 259,578,537 | 12,888,406 | 267,021,479 |
Fund reorganization | — | — | 50,335 | 946,037 |
Distributions reinvested | 1,628,642 | 26,797,164 | 3,709,447 | 76,346,220 |
Redemptions | (19,031,222) | (351,036,283) | (10,429,093) | (215,750,681) |
Net increase (decrease) | (2,603,595) | (64,660,582) | 6,219,095 | 128,563,055 |
Class R | ||||
Subscriptions | 63,740 | 1,009,251 | 43,521 | 857,511 |
Distributions reinvested | 8,720 | 130,677 | 26,625 | 505,702 |
Redemptions | (108,124) | (1,866,667) | (161,147) | (3,079,482) |
Net decrease | (35,664) | (726,739) | (91,001) | (1,716,269) |
Total net increase (decrease) | (6,925,468) | (141,121,623) | 14,818,832 | 295,265,372 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 17 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $18.48 | 0.09 | (1.09) | (1.00) | (0.06) | (0.93) | (0.99) |
Year Ended 2/28/2022 | $18.85 | (0.02) | 2.33 | 2.31 | (0.03) | (2.65) | (2.68) |
Year Ended 2/28/2021 | $12.89 | 0.03 | 6.04 | 6.07 | (0.05) | (0.06) | (0.11) |
Year Ended 2/29/2020 | $15.11 | 0.06 | (1.76) | (1.70) | (0.09) | (0.43) | (0.52) |
Year Ended 2/28/2019 | $17.11 | 0.03 | (0.10) | (0.07) | (0.01) | (1.92) | (1.93) |
Advisor Class | |||||||
Year Ended 2/28/2023 | $19.46 | 0.15 | (1.18) | (1.03) | (0.09) | (0.93) | (1.02) |
Year Ended 2/28/2022 | $19.71 | 0.03 | 2.45 | 2.48 | (0.08) | (2.65) | (2.73) |
Year Ended 2/28/2021 | $13.46 | 0.06 | 6.33 | 6.39 | (0.08) | (0.06) | (0.14) |
Year Ended 2/29/2020 | $15.75 | 0.10 | (1.83) | (1.73) | (0.13) | (0.43) | (0.56) |
Year Ended 2/28/2019 | $17.75 | 0.07 | (0.11) | (0.04) | (0.04) | (1.92) | (1.96) |
Class C | |||||||
Year Ended 2/28/2023 | $15.20 | (0.03) | (0.92) | (0.95) | — | (0.93) | (0.93) |
Year Ended 2/28/2022 | $16.01 | (0.13) | 1.97 | 1.84 | — | (2.65) | (2.65) |
Year Ended 2/28/2021 | $11.00 | (0.06) | 5.13 | 5.07 | — | (0.06) | (0.06) |
Year Ended 2/29/2020 | $12.96 | (0.04) | (1.51) | (1.55) | — | (0.41) | (0.41) |
Year Ended 2/28/2019 | $15.06 | (0.11) | (0.07) | (0.18) | — | (1.92) | (1.92) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $18.90 | 0.13 | (1.13) | (1.00) | (0.09) | (0.93) | (1.02) |
Year Ended 2/28/2022 | $19.21 | 0.04 | 2.38 | 2.42 | (0.08) | (2.65) | (2.73) |
Year Ended 2/28/2021 | $13.12 | 0.07 | 6.16 | 6.23 | (0.08) | (0.06) | (0.14) |
Year Ended 2/29/2020 | $15.37 | 0.10 | (1.79) | (1.69) | (0.13) | (0.43) | (0.56) |
Year Ended 2/28/2019 | $17.37 | 0.07 | (0.11) | (0.04) | (0.04) | (1.92) | (1.96) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $19.53 | 0.16 | (1.16) | (1.00) | (0.11) | (0.93) | (1.04) |
Year Ended 2/28/2022 | $19.77 | 0.06 | 2.45 | 2.51 | (0.10) | (2.65) | (2.75) |
Year Ended 2/28/2021 | $13.48 | 0.09 | 6.35 | 6.44 | (0.09) | (0.06) | (0.15) |
Year Ended 2/29/2020 | $15.78 | 0.12 | (1.84) | (1.72) | (0.15) | (0.43) | (0.58) |
Year Ended 2/28/2019 | $17.78 | 0.10 | (0.11) | (0.01) | (0.07) | (1.92) | (1.99) |
18 | Columbia Small Cap Value Fund II | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $16.49 | (4.97%) | 1.33% | 1.27%(c) | 0.53% | 67% | $84,580 |
Year Ended 2/28/2022 | $18.48 | 11.94% | 1.34% | 1.28%(c) | (0.08%) | 50% | $91,223 |
Year Ended 2/28/2021 | $18.85 | 47.45% | 1.37% | 1.29%(c) | 0.27% | 55% | $69,591 |
Year Ended 2/29/2020 | $12.89 | (11.58%) | 1.36% | 1.28%(c) | 0.40% | 27% | $99,356 |
Year Ended 2/28/2019 | $15.11 | (0.15%) | 1.35% | 1.27%(c) | 0.17% | 38% | $144,155 |
Advisor Class | |||||||
Year Ended 2/28/2023 | $17.41 | (4.83%) | 1.08% | 1.02%(c) | 0.85% | 67% | $84,624 |
Year Ended 2/28/2022 | $19.46 | 12.26% | 1.09% | 1.03%(c) | 0.15% | 50% | $178,599 |
Year Ended 2/28/2021 | $19.71 | 47.83% | 1.12% | 1.05%(c) | 0.44% | 55% | $136,110 |
Year Ended 2/29/2020 | $13.46 | (11.34%) | 1.11% | 1.03%(c) | 0.64% | 27% | $57,400 |
Year Ended 2/28/2019 | $15.75 | 0.09% | 1.10% | 1.02%(c) | 0.42% | 38% | $85,978 |
Class C | |||||||
Year Ended 2/28/2023 | $13.32 | (5.72%) | 2.08% | 2.02%(c) | (0.22%) | 67% | $1,335 |
Year Ended 2/28/2022 | $15.20 | 11.10% | 2.09% | 2.03%(c) | (0.81%) | 50% | $1,470 |
Year Ended 2/28/2021 | $16.01 | 46.38% | 2.12% | 2.05%(c) | (0.55%) | 55% | $577 |
Year Ended 2/29/2020 | $11.00 | (12.27%) | 2.11% | 2.03%(c) | (0.33%) | 27% | $315 |
Year Ended 2/28/2019 | $12.96 | (0.93%) | 2.09% | 2.02%(c) | (0.71%) | 38% | $611 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $16.88 | (4.81%) | 1.08% | 1.02%(c) | 0.76% | 67% | $376,007 |
Year Ended 2/28/2022 | $18.90 | 12.27% | 1.09% | 1.03%(c) | 0.18% | 50% | $425,250 |
Year Ended 2/28/2021 | $19.21 | 47.85% | 1.12% | 1.04%(c) | 0.51% | 55% | $333,786 |
Year Ended 2/29/2020 | $13.12 | (11.36%) | 1.11% | 1.03%(c) | 0.66% | 27% | $350,469 |
Year Ended 2/28/2019 | $15.37 | 0.09% | 1.10% | 1.02%(c) | 0.42% | 38% | $545,568 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $17.49 | (4.64%) | 0.92% | 0.88% | 0.92% | 67% | $201,436 |
Year Ended 2/28/2022 | $19.53 | 12.41% | 0.91% | 0.88% | 0.30% | 50% | $223,545 |
Year Ended 2/28/2021 | $19.77 | 48.19% | 0.94% | 0.90% | 0.62% | 55% | $226,504 |
Year Ended 2/29/2020 | $13.48 | (11.26%) | 0.92% | 0.89% | 0.79% | 27% | $144,260 |
Year Ended 2/28/2019 | $15.78 | 0.22% | 0.91% | 0.88% | 0.60% | 38% | $118,654 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 19 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $19.61 | 0.17 | (1.16) | (0.99) | (0.12) | (0.93) | (1.05) |
Year Ended 2/28/2022 | $19.84 | 0.08 | 2.45 | 2.53 | (0.11) | (2.65) | (2.76) |
Year Ended 2/28/2021 | $13.53 | 0.09 | 6.38 | 6.47 | (0.10) | (0.06) | (0.16) |
Year Ended 2/29/2020 | $15.84 | 0.13 | (1.85) | (1.72) | (0.16) | (0.43) | (0.59) |
Year Ended 2/28/2019 | $17.84 | 0.11 | (0.12) | (0.01) | (0.07) | (1.92) | (1.99) |
Class R | |||||||
Year Ended 2/28/2023 | $18.01 | 0.05 | (1.09) | (1.04) | (0.02) | (0.93) | (0.95) |
Year Ended 2/28/2022 | $18.44 | (0.07) | 2.29 | 2.22 | — | (2.65) | (2.65) |
Year Ended 2/28/2021 | $12.62 | (0.00)(d) | 5.91 | 5.91 | (0.03) | (0.06) | (0.09) |
Year Ended 2/29/2020 | $14.80 | 0.02 | (1.71) | (1.69) | (0.06) | (0.43) | (0.49) |
Year Ended 2/28/2019 | $16.84 | (0.01) | (0.11) | (0.12) | — | (1.92) | (1.92) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Rounds to zero. |
20 | Columbia Small Cap Value Fund II | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $17.57 | (4.58%) | 0.87% | 0.83% | 0.99% | 67% | $562,816 |
Year Ended 2/28/2022 | $19.61 | 12.46% | 0.86% | 0.83% | 0.37% | 50% | $679,291 |
Year Ended 2/28/2021 | $19.84 | 48.20% | 0.89% | 0.85% | 0.67% | 55% | $563,772 |
Year Ended 2/29/2020 | $13.53 | (11.23%) | 0.87% | 0.84% | 0.84% | 27% | $393,074 |
Year Ended 2/28/2019 | $15.84 | 0.27% | 0.85% | 0.83% | 0.62% | 38% | $487,282 |
Class R | |||||||
Year Ended 2/28/2023 | $16.02 | (5.32%) | 1.57% | 1.52%(c) | 0.31% | 67% | $2,661 |
Year Ended 2/28/2022 | $18.01 | 11.73% | 1.59% | 1.53%(c) | (0.34%) | 50% | $3,633 |
Year Ended 2/28/2021 | $18.44 | 47.11% | 1.62% | 1.55%(c) | (0.00%)(d) | 55% | $5,399 |
Year Ended 2/29/2020 | $12.62 | (11.79%) | 1.61% | 1.53%(c) | 0.15% | 27% | $4,796 |
Year Ended 2/28/2019 | $14.80 | (0.46%) | 1.60% | 1.52%(c) | (0.08%) | 38% | $6,104 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 21 |
February 28, 2023
22 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Columbia Small Cap Value Fund II | Annual Report 2023 | 23 |
February 28, 2023
24 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Effective rate (%) | |
Class A | 0.21 |
Advisor Class | 0.21 |
Class C | 0.21 |
Institutional Class | 0.21 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.21 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 25 |
February 28, 2023
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 70,835 |
Class C | — | 1.00(b) | 311 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through June 30, 2024 | |
Class A | 1.27% |
Advisor Class | 1.02 |
Class C | 2.02 |
Institutional Class | 1.02 |
Institutional 2 Class | 0.88 |
Institutional 3 Class | 0.83 |
Class R | 1.52 |
26 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(893,404) | (14,609,974) | 15,503,378 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
7,962,311 | 69,162,732 | 77,125,043 | 53,913,346 | 140,988,759 | 194,902,105 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
2,893,333 | 34,298,158 | — | 342,401,894 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
975,089,590 | 360,709,889 | (18,307,995) | 342,401,894 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 27 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 4,260,000 | 2.58 | 5 |
28 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Shares | |
Class A | 102,798 |
Advisor Class | 4,247,560 |
Institutional 3 Class | 50,335 |
($) | |
Net investment income | 4,488,000 |
Net realized gain | 206,826,000 |
Net change in unrealized appreciation/(depreciation) | (31,844,000) |
Net increase in net assets from operations | 179,470,000 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 29 |
February 28, 2023
30 | Columbia Small Cap Value Fund II | Annual Report 2023 |
February 28, 2023
Columbia Small Cap Value Fund II | Annual Report 2023 | 31 |
32 | Columbia Small Cap Value Fund II | Annual Report 2023 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
100.00% | 100.00% | $78,261,984 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
Columbia Small Cap Value Fund II | Annual Report 2023 | 33 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
34 | Columbia Small Cap Value Fund II | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
Columbia Small Cap Value Fund II | Annual Report 2023 | 35 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
36 | Columbia Small Cap Value Fund II | Annual Report 2023 |
(Unaudited)
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Columbia Small Cap Value Fund II | Annual Report 2023 | 37 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
38 | Columbia Small Cap Value Fund II | Annual Report 2023 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img7b0b4f6f2.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgf83366f51.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img6357b4fb2.jpg)
3 | |
5 | |
7 | |
8 | |
14 | |
16 | |
17 | |
20 | |
24 | |
39 | |
40 | |
40 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img24392f563.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 02/28/13 | 0.15 | 1.89 | 5.29 |
Including sales charges | -5.63 | 0.69 | 4.67 | ||
Advisor Class* | 07/01/15 | 0.46 | 2.14 | 5.55 | |
Class C | Excluding sales charges | 02/28/13 | -0.56 | 1.13 | 4.50 |
Including sales charges | -1.54 | 1.13 | 4.50 | ||
Institutional Class | 03/31/08 | 0.46 | 2.17 | 5.54 | |
Institutional 2 Class* | 07/01/15 | 0.53 | 2.26 | 5.64 | |
Institutional 3 Class* | 07/01/15 | 0.57 | 2.28 | 5.68 | |
Class R* | 03/01/16 | -0.05 | 1.63 | 5.03 | |
MSCI EAFE Value Index (Net) | 0.61 | 1.31 | 3.79 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Overseas Value Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img0519a5ae4.jpg)
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 6.8 |
Consumer Discretionary | 4.3 |
Consumer Staples | 11.9 |
Energy | 14.8 |
Financials | 28.5 |
Health Care | 10.6 |
Industrials | 8.1 |
Information Technology | 4.5 |
Materials | 5.8 |
Real Estate | 0.3 |
Utilities | 4.4 |
Total | 100.0 |
Country breakdown (%) (at February 28, 2023) | |
Australia | 1.3 |
Brazil | 0.2 |
Canada | 5.6 |
China | 1.8 |
Finland | 1.9 |
France | 13.0 |
Germany | 4.0 |
Greece | 1.0 |
Hong Kong | 1.3 |
Ireland | 2.0 |
Israel | 2.9 |
Country breakdown (%) (at February 28, 2023) | |
Japan | 18.7 |
Netherlands | 12.1 |
Norway | 0.8 |
Russian Federation | 0.0(a) |
Singapore | 2.6 |
South Africa | 0.4 |
South Korea | 0.7 |
Spain | 3.7 |
Sweden | 0.6 |
Switzerland | 2.3 |
Taiwan | 1.1 |
United Kingdom | 14.5 |
United States(b) | 7.5 |
Total | 100.0 |
(a) | Rounds to zero. |
(b) | Includes investments in Money Market Funds and Exchange-Traded Funds. |
4 | Columbia Overseas Value Fund | Annual Report 2023 |
(Unaudited)
• | The Fund’s underperformance of its benchmark during the period was caused primarily by adverse stock selection, particularly within the United Kingdom, as well as within the communication services and industrials sectors. |
• | Individual holdings that lagged in absolute and relative terms included Vodafone Group Plc (United Kingdom), Leroy Seafood Group ASA (Norway), Atos SE (France), KION GROUP AG (Germany) and Toyota Motor Corp. (Japan). |
• | From a geographical perspective, the Fund’s modest out-of-benchmark allocations to Brazil and South Africa hurt relative performance, as did stock selection within the United Kingdom, Germany and Sweden. |
Columbia Overseas Value Fund | Annual Report 2023 | 5 |
(Unaudited)
• | Relative to its benchmark, the Fund’s overweight positions in Canada, the United States and the energy sector helped results. Security selection in Japan also proved beneficial. |
• | Individual top performers included TotalEnergies SE (France), Teekay Tankers Ltd. (Bermuda), ING Groep NV (Netherlands), BP p.l.c. (United Kingdom) and Shell Plc (United Kingdom). |
6 | Columbia Overseas Value Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,138.90 | 1,019.04 | 6.15 | 5.81 | 1.16 |
Advisor Class | 1,000.00 | 1,000.00 | 1,140.30 | 1,020.28 | 4.83 | 4.56 | 0.91 |
Class C | 1,000.00 | 1,000.00 | 1,134.60 | 1,015.32 | 10.11 | 9.54 | 1.91 |
Institutional Class | 1,000.00 | 1,000.00 | 1,140.80 | 1,020.28 | 4.83 | 4.56 | 0.91 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,141.30 | 1,020.73 | 4.35 | 4.11 | 0.82 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,141.60 | 1,020.98 | 4.09 | 3.86 | 0.77 |
Class R | 1,000.00 | 1,000.00 | 1,136.90 | 1,017.80 | 7.47 | 7.05 | 1.41 |
Columbia Overseas Value Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 97.4% | ||
Issuer | Shares | Value ($) |
Australia 1.3% | ||
Northern Star Resources Ltd. | 4,910,705 | 34,273,422 |
Brazil 0.2% | ||
Azul SA, ADR(a) | 1,052,254 | 4,293,196 |
Canada 5.5% | ||
Alimentation Couche-Tard, Inc. | 977,144 | 45,838,760 |
Cameco Corp. | 1,259,812 | 34,443,260 |
Nutrien Ltd. | 211,966 | 16,486,715 |
Teck Resources Ltd., Class B | 592,256 | 23,642,859 |
Teekay Tankers Ltd., Class A(a),(b) | 498,286 | 22,497,613 |
Vermilion Energy, Inc. | 515,592 | 6,908,933 |
Total | 149,818,140 | |
China 1.8% | ||
Guangdong Investment Ltd. | 32,616,000 | 32,959,815 |
Industrial & Commercial Bank of China Ltd., Class H | 31,175,000 | 15,555,147 |
Total | 48,514,962 | |
Finland 1.9% | ||
UPM-Kymmene OYJ | 1,418,874 | 51,414,967 |
France 13.0% | ||
AXA SA | 2,385,786 | 75,179,677 |
BNP Paribas SA | 919,793 | 64,303,823 |
DBV Technologies SA, ADR(a) | 329,151 | 477,269 |
Eiffage SA | 303,652 | 33,325,559 |
Engie SA | 1,456,890 | 21,260,943 |
Sanofi | 589,876 | 55,152,423 |
TotalEnergies SE | 1,643,511 | 101,411,573 |
Total | 351,111,267 | |
Germany 4.0% | ||
Bayer AG, Registered Shares | 290,889 | 17,273,353 |
Duerr AG | 715,744 | 26,943,220 |
E.ON SE | 3,122,079 | 34,064,613 |
KION Group AG | 335,681 | 13,147,284 |
Mercedes-Benz Group AG, Registered Shares | 224,757 | 17,225,999 |
Total | 108,654,469 | |
Greece 1.0% | ||
Piraeus Financial Holdings SA(a) | 10,487,651 | 26,588,748 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Hong Kong 1.3% | ||
WH Group Ltd. | 58,557,330 | 34,076,205 |
Ireland 2.0% | ||
Amarin Corp. PLC, ADR(a) | 306,060 | 621,302 |
Bank of Ireland Group PLC | 2,693,951 | 29,679,577 |
Flutter Entertainment PLC(a) | 149,322 | 23,974,908 |
Total | 54,275,787 | |
Israel 2.9% | ||
Bank Hapoalim BM | 2,877,764 | 24,070,268 |
Bezeq Israeli Telecommunication Corp., Ltd. | 12,771,876 | 17,678,334 |
Check Point Software Technologies Ltd.(a) | 296,328 | 36,661,700 |
Total | 78,410,302 | |
Japan 18.7% | ||
Dai-ichi Life Holdings, Inc. | 1,880,900 | 40,127,719 |
Daiwabo Holdings Co., Ltd. | 2,077,600 | 32,106,452 |
ITOCHU Corp. | 1,729,000 | 51,681,010 |
Kinden Corp. | 1,229,600 | 13,805,822 |
Koito Manufacturing Co., Ltd. | 917,000 | 15,411,201 |
Marubeni Corp. | 2,240,100 | 28,597,251 |
MatsukiyoCocokara & Co. | 939,100 | 43,641,035 |
Mebuki Financial Group, Inc. | 5,772,600 | 15,517,831 |
Nippon Telegraph & Telephone Corp. | 1,136,200 | 32,923,461 |
ORIX Corp. | 2,949,600 | 52,865,698 |
Ship Healthcare Holdings, Inc. | 1,233,100 | 22,256,025 |
Sumitomo Mitsui Financial Group, Inc. | 1,480,200 | 64,646,051 |
Takeda Pharmaceutical Co., Ltd. | 1,663,300 | 51,270,060 |
Takuma Co., Ltd. | 809,845 | 8,154,468 |
Toyota Motor Corp. | 2,357,500 | 32,131,730 |
Total | 505,135,814 | |
Netherlands 12.1% | ||
ABN AMRO Bank NV | 1,166,260 | 20,580,042 |
ASR Nederland NV | 1,206,341 | 54,901,632 |
ING Groep NV | 5,153,829 | 72,128,458 |
Koninklijke Ahold Delhaize NV | 2,049,976 | 65,090,640 |
Shell PLC | 3,720,417 | 112,685,408 |
Total | 325,386,180 |
8 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Norway 0.8% | ||
Leroy Seafood Group ASA | 4,407,147 | 21,853,674 |
Russian Federation —% | ||
Lukoil PJSC(c),(d),(e) | 106,132 | — |
Singapore 2.6% | ||
BW LPG Ltd. | 2,265,558 | 19,818,717 |
Venture Corp., Ltd. | 3,881,100 | 49,424,316 |
Total | 69,243,033 | |
South Africa 0.4% | ||
Sibanye Stillwater Ltd., ADR | 1,319,231 | 10,685,771 |
South Korea 0.7% | ||
Hyundai Home Shopping Network Corp. | 126,141 | 4,911,073 |
Youngone Corp.(a) | 470,847 | 15,160,225 |
Total | 20,071,298 | |
Spain 3.7% | ||
Banco Santander SA | 17,538,816 | 69,057,470 |
Endesa SA | 1,347,343 | 26,421,438 |
Tecnicas Reunidas SA(a) | 421,593 | 4,830,356 |
Total | 100,309,264 | |
Sweden 0.6% | ||
Samhallsbyggnadsbolaget i Norden AB | 4,820,143 | 7,865,127 |
Stillfront Group AB(a) | 5,008,108 | 9,219,548 |
Total | 17,084,675 | |
Switzerland 2.3% | ||
Novartis AG, Registered Shares | 725,973 | 61,097,978 |
Taiwan 1.1% | ||
Fubon Financial Holding Co., Ltd. | 15,228,115 | 29,777,272 |
United Kingdom 14.5% | ||
AstraZeneca PLC, ADR | 319,632 | 20,833,614 |
Barclays Bank PLC | 8,231,325 | 17,274,163 |
BP PLC | 4,640,760 | 30,496,906 |
British American Tobacco PLC | 2,093,218 | 79,219,497 |
BT Group PLC | 19,089,659 | 32,003,007 |
Crest Nicholson Holdings PLC | 1,591,799 | 4,677,861 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
DCC PLC | 582,431 | 32,346,222 |
Imperial Brands PLC | 934,499 | 22,513,276 |
John Wood Group PLC(a) | 2,165,502 | 5,090,862 |
Just Group PLC | 25,551,420 | 26,892,710 |
Liberty Global PLC, Class C(a) | 1,647,841 | 35,016,621 |
TP Icap Group PLC | 14,403,106 | 33,436,818 |
Vodafone Group PLC | 43,526,377 | 52,117,379 |
Total | 391,918,936 | |
United States 5.0% | ||
Burford Capital Ltd. | 2,199,341 | 17,924,629 |
Diversified Energy Co. PLC | 28,098,447 | 35,217,742 |
Energy Fuels, Inc.(a),(b) | 2,223,773 | 14,921,517 |
Insmed, Inc.(a) | 198,859 | 4,052,747 |
Jazz Pharmaceuticals PLC(a) | 303,355 | 42,591,042 |
Livent Corp.(a) | 721,014 | 16,907,778 |
Quotient Ltd.(a) | 22,353 | 1,062 |
Sage Therapeutics, Inc.(a) | 60,538 | 2,520,802 |
Total | 134,137,319 | |
Total Common Stocks (Cost $2,584,804,285) | 2,628,132,679 | |
Exchange-Traded Equity Funds 2.3% | ||
Shares | Value ($) | |
United States 2.3% | ||
iShares MSCI EAFE Value ETF | 1,299,028 | 63,067,810 |
Total Exchange-Traded Equity Funds (Cost $63,790,148) | 63,067,810 | |
Money Market Funds 0.2% | ||
Columbia Short-Term Cash Fund, 4.748%(f),(g) | 4,592,371 | 4,590,534 |
Total Money Market Funds (Cost $4,590,339) | 4,590,534 | |
Total Investments in Securities (Cost $2,653,184,772) | 2,695,791,023 | |
Other Assets & Liabilities, Net | 3,688,238 | |
Net Assets | $2,699,479,261 |
Columbia Overseas Value Fund | Annual Report 2023 | 9 |
February 28, 2023
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
11,595,000 AUD | 8,036,181 USD | Goldman Sachs International | 03/09/2023 | 231,769 | — |
120,581,000 CAD | 89,952,837 USD | Goldman Sachs International | 03/09/2023 | 1,576,842 | — |
29,248,000 EUR | 31,703,547 USD | Goldman Sachs International | 03/09/2023 | 754,083 | — |
4,172,917,000 JPY | 32,115,813 USD | Goldman Sachs International | 03/09/2023 | 1,435,405 | — |
16,287,165,000 KRW | 13,117,884 USD | Goldman Sachs International | 03/09/2023 | 801,269 | — |
398,460,000 NOK | 39,553,685 USD | Goldman Sachs International | 03/09/2023 | 1,169,214 | — |
170,393,000 SEK | 16,103,273 USD | Goldman Sachs International | 03/09/2023 | — | (180,600) |
10,680,000 SGD | 8,058,592 USD | Goldman Sachs International | 03/09/2023 | 136,920 | — |
2,055,366,000 TWD | 68,092,298 USD | Goldman Sachs International | 03/09/2023 | 729,761 | — |
126,258,320 USD | 181,899,000 AUD | Goldman Sachs International | 03/09/2023 | — | (3,824,953) |
21,458,328 USD | 28,833,000 CAD | Goldman Sachs International | 03/09/2023 | — | (326,102) |
7,826,171 USD | 7,254,000 CHF | Goldman Sachs International | 03/09/2023 | — | (117,970) |
7,841,716 USD | 54,017,000 DKK | Goldman Sachs International | 03/09/2023 | — | (161,681) |
23,601,819 USD | 21,798,000 EUR | Goldman Sachs International | 03/09/2023 | — | (535,750) |
47,299,589 USD | 38,959,000 GBP | Goldman Sachs International | 03/09/2023 | — | (431,392) |
13,594,353 USD | 1,748,940,000 JPY | Goldman Sachs International | 03/09/2023 | — | (735,675) |
5,451,695 USD | 53,869,000 NOK | Goldman Sachs International | 03/09/2023 | — | (262,383) |
41,913,794 USD | 65,911,000 NZD | Goldman Sachs International | 03/09/2023 | — | (1,160,561) |
63,144,420 USD | 656,694,000 SEK | Goldman Sachs International | 03/09/2023 | — | (386,435) |
26,331,512 USD | 34,817,000 SGD | Goldman Sachs International | 03/09/2023 | — | (506,712) |
Total | 6,835,263 | (8,630,214) |
Call option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
Energy Fuels, Inc. | Morgan Stanley | USD | (6,854,936) | (10,216) | 10.00 | 3/17/2023 | (35,569) | (25,540) |
Teekay Tankers Ltd. | Morgan Stanley | USD | (11,969,265) | (2,651) | 40.00 | 3/17/2023 | (36,376) | (1,511,070) |
Total | (71,945) | (1,536,610) |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At February 28, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(d) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At February 28, 2023, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Lukoil PJSC | 01/25/2022-01/26/2022 | 106,132 | 8,693,218 | — |
(e) | Valuation based on significant unobservable inputs. |
(f) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
10 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
(g) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
11,100,869 | 584,426,244 | (590,936,192) | (387) | 4,590,534 | 6,141 | 366,321 | 4,592,371 |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | South Korean Won |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
TWD | New Taiwan Dollar |
USD | US Dollar |
■ | 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 Overseas Value Fund | Annual Report 2023 | 11 |
February 28, 2023
Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | — | 34,273,422 | — | 34,273,422 |
Brazil | 4,293,196 | — | — | 4,293,196 |
Canada | 149,818,140 | — | — | 149,818,140 |
China | — | 48,514,962 | — | 48,514,962 |
Finland | — | 51,414,967 | — | 51,414,967 |
France | 477,269 | 350,633,998 | — | 351,111,267 |
Germany | — | 108,654,469 | — | 108,654,469 |
Greece | — | 26,588,748 | — | 26,588,748 |
Hong Kong | — | 34,076,205 | — | 34,076,205 |
Ireland | 621,302 | 53,654,485 | — | 54,275,787 |
Israel | 36,661,700 | 41,748,602 | — | 78,410,302 |
Japan | — | 505,135,814 | — | 505,135,814 |
Netherlands | — | 325,386,180 | — | 325,386,180 |
Norway | — | 21,853,674 | — | 21,853,674 |
Russian Federation | — | — | 0* | 0* |
Singapore | — | 69,243,033 | — | 69,243,033 |
South Africa | 10,685,771 | — | — | 10,685,771 |
South Korea | — | 20,071,298 | — | 20,071,298 |
Spain | — | 100,309,264 | — | 100,309,264 |
Sweden | — | 17,084,675 | — | 17,084,675 |
Switzerland | — | 61,097,978 | — | 61,097,978 |
Taiwan | — | 29,777,272 | — | 29,777,272 |
United Kingdom | 55,850,235 | 336,068,701 | — | 391,918,936 |
United States | 98,918,515 | 35,218,804 | — | 134,137,319 |
Total Common Stocks | 357,326,128 | 2,270,806,551 | 0* | 2,628,132,679 |
Exchange-Traded Equity Funds | 63,067,810 | — | — | 63,067,810 |
Money Market Funds | 4,590,534 | — | — | 4,590,534 |
Total Investments in Securities | 424,984,472 | 2,270,806,551 | 0* | 2,695,791,023 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 6,835,263 | — | 6,835,263 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (8,630,214) | — | (8,630,214) |
Options Contracts Written | (1,536,610) | — | — | (1,536,610) |
Total | 423,447,862 | 2,269,011,600 | — | 2,692,459,462 |
* | Rounds to zero. |
12 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
The Fund’s assets assigned to the Level 2 input category are generally valued using the market approach, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets. These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The model utilized by such third party statistical pricing service takes into account a security’s correlation to available market data including, but not limited to, intraday index, ADR, and exchange-traded fund movements.
Columbia Overseas Value Fund | Annual Report 2023 | 13 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $2,648,594,433) | $2,691,200,489 |
Affiliated issuers (cost $4,590,339) | 4,590,534 |
Cash | 19 |
Unrealized appreciation on forward foreign currency exchange contracts | 6,835,263 |
Receivable for: | |
Investments sold | 2,720,222 |
Capital shares sold | 2,902,820 |
Dividends | 3,383,005 |
Foreign tax reclaims | 4,126,152 |
Expense reimbursement due from Investment Manager | 4,037 |
Prepaid expenses | 15,265 |
Total assets | 2,715,777,806 |
Liabilities | |
Option contracts written, at value (premiums received $71,945) | 1,536,610 |
Foreign currency (cost $149,863) | 149,863 |
Unrealized depreciation on forward foreign currency exchange contracts | 8,630,214 |
Payable for: | |
Investments purchased | 1,353,393 |
Capital shares purchased | 3,896,887 |
Management services fees | 57,604 |
Distribution and/or service fees | 2,685 |
Transfer agent fees | 221,535 |
Compensation of board members | 240,491 |
Compensation of chief compliance officer | 493 |
Other expenses | 208,770 |
Total liabilities | 16,298,545 |
Net assets applicable to outstanding capital stock | $2,699,479,261 |
Represented by | |
Paid in capital | 2,981,534,737 |
Total distributable earnings (loss) | (282,055,476) |
Total - representing net assets applicable to outstanding capital stock | $2,699,479,261 |
14 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Class A | |
Net assets | $300,206,987 |
Shares outstanding | 30,162,535 |
Net asset value per share | $9.95 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.56 |
Advisor Class | |
Net assets | $428,049,855 |
Shares outstanding | 43,097,618 |
Net asset value per share | $9.93 |
Class C | |
Net assets | $15,532,100 |
Shares outstanding | 1,574,517 |
Net asset value per share | $9.86 |
Institutional Class | |
Net assets | $489,364,068 |
Shares outstanding | 49,045,124 |
Net asset value per share | $9.98 |
Institutional 2 Class | |
Net assets | $660,833,345 |
Shares outstanding | 66,629,634 |
Net asset value per share | $9.92 |
Institutional 3 Class | |
Net assets | $791,530,703 |
Shares outstanding | 79,693,552 |
Net asset value per share | $9.93 |
Class R | |
Net assets | $13,962,203 |
Shares outstanding | 1,441,645 |
Net asset value per share | $9.68 |
Columbia Overseas Value Fund | Annual Report 2023 | 15 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $103,356,281 |
Dividends — affiliated issuers | 366,321 |
European Union tax reclaim | 262,654 |
Foreign taxes withheld | (13,346,412) |
Total income | 90,638,844 |
Expenses: | |
Management services fees | 19,484,110 |
Distribution and/or service fees | |
Class A | 749,033 |
Class C | 162,324 |
Class R | 67,736 |
Transfer agent fees | |
Class A | 445,274 |
Advisor Class | 579,392 |
Class C | 24,100 |
Institutional Class | 683,664 |
Institutional 2 Class | 346,452 |
Institutional 3 Class | 52,926 |
Class R | 20,142 |
Compensation of board members | 39,767 |
Custodian fees | 287,163 |
Printing and postage fees | 248,932 |
Registration fees | 168,826 |
Audit fees | 87,445 |
Legal fees | 47,334 |
Interest on collateral | 13,300 |
Interest on interfund lending | 48 |
Compensation of chief compliance officer | 485 |
Other | 93,566 |
Total expenses | 23,602,019 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,471,774) |
Expense reduction | (280) |
Total net expenses | 22,129,965 |
Net investment income | 68,508,879 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (62,223,149) |
Investments — affiliated issuers | 6,141 |
Foreign currency translations | (1,365,913) |
Forward foreign currency exchange contracts | 1,513,786 |
Options purchased | (1,197,553) |
Options contracts written | 3,698,527 |
Net realized loss | (59,568,161) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 9,865,015 |
Investments — affiliated issuers | (387) |
Foreign currency translations | (139,668) |
Forward foreign currency exchange contracts | (3,871,978) |
Options contracts written | (704,051) |
Net change in unrealized appreciation (depreciation) | 5,148,931 |
Net realized and unrealized loss | (54,419,230) |
Net increase in net assets resulting from operations | $14,089,649 |
16 | Columbia Overseas Value Fund | Annual Report 2023 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $68,508,879 | $63,111,953 |
Net realized gain (loss) | (59,568,161) | 70,828,967 |
Net change in unrealized appreciation (depreciation) | 5,148,931 | (45,067,529) |
Net increase in net assets resulting from operations | 14,089,649 | 88,873,391 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (5,087,610) | (11,067,794) |
Advisor Class | (7,491,328) | (11,757,755) |
Class C | (185,075) | (504,315) |
Institutional Class | (8,676,294) | (17,975,864) |
Institutional 2 Class | (12,018,675) | (26,006,694) |
Institutional 3 Class | (14,462,101) | (27,502,053) |
Class R | (205,342) | (484,871) |
Total distributions to shareholders | (48,126,425) | (95,299,346) |
Increase (decrease) in net assets from capital stock activity | (1,231,491) | 740,751,097 |
Total increase (decrease) in net assets | (35,268,267) | 734,325,142 |
Net assets at beginning of year | 2,734,747,528 | 2,000,422,386 |
Net assets at end of year | $2,699,479,261 | $2,734,747,528 |
Columbia Overseas Value Fund | Annual Report 2023 | 17 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,607,056 | 33,379,300 | 6,233,691 | 66,476,786 |
Fund reorganization | — | — | 4,285 | 44,736 |
Distributions reinvested | 545,233 | 4,929,061 | 1,059,055 | 10,705,814 |
Redemptions | (7,479,359) | (68,178,155) | (5,913,875) | (62,548,415) |
Net increase (decrease) | (3,327,070) | (29,869,794) | 1,383,156 | 14,678,921 |
Advisor Class | ||||
Subscriptions | 13,760,629 | 127,666,956 | 17,797,576 | 190,309,034 |
Fund reorganization | — | — | 4,039,099 | 42,049,576 |
Distributions reinvested | 823,638 | 7,462,922 | 1,162,793 | 11,726,703 |
Redemptions | (11,643,383) | (108,363,000) | (11,769,913) | (123,972,382) |
Net increase | 2,940,884 | 26,766,878 | 11,229,555 | 120,112,931 |
Class C | ||||
Subscriptions | 164,154 | 1,546,563 | 188,106 | 1,978,112 |
Distributions reinvested | 20,993 | 184,742 | 50,165 | 503,448 |
Redemptions | (528,535) | (4,895,352) | (583,560) | (6,147,866) |
Net decrease | (343,388) | (3,164,047) | (345,289) | (3,666,306) |
Institutional Class | ||||
Subscriptions | 21,956,282 | 199,739,705 | 21,464,914 | 228,595,718 |
Distributions reinvested | 933,279 | 8,488,850 | 1,714,711 | 17,352,111 |
Redemptions | (25,085,083) | (231,336,530) | (12,203,529) | (128,865,133) |
Net increase (decrease) | (2,195,522) | (23,107,975) | 10,976,096 | 117,082,696 |
Institutional 2 Class | ||||
Subscriptions | 24,158,014 | 224,982,961 | 44,433,415 | 467,540,027 |
Distributions reinvested | 1,323,911 | 11,991,581 | 2,583,941 | 25,998,838 |
Redemptions | (30,032,454) | (285,244,645) | (30,847,596) | (326,703,923) |
Net increase (decrease) | (4,550,529) | (48,270,103) | 16,169,760 | 166,834,942 |
Institutional 3 Class | ||||
Subscriptions | 27,615,573 | 257,295,732 | 49,017,595 | 518,942,169 |
Distributions reinvested | 1,065,356 | 9,607,853 | 1,924,294 | 19,356,884 |
Redemptions | (20,518,168) | (189,165,088) | (20,635,911) | (219,964,259) |
Net increase | 8,162,761 | 77,738,497 | 30,305,978 | 318,334,794 |
Class R | ||||
Subscriptions | 379,724 | 3,450,138 | 1,098,288 | 11,569,685 |
Distributions reinvested | 23,384 | 204,983 | 49,177 | 483,756 |
Redemptions | (542,706) | (4,980,068) | (452,156) | (4,680,322) |
Net increase (decrease) | (139,598) | (1,324,947) | 695,309 | 7,373,119 |
Total net increase (decrease) | 547,538 | (1,231,491) | 70,414,565 | 740,751,097 |
18 | Columbia Overseas Value Fund | Annual Report 2023 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $10.11 | 0.24 | (0.24) | 0.00 | (0.06) | (0.10) | (0.16) |
Year Ended 2/28/2022 | $9.99 | 0.23 | 0.23 | 0.46 | (0.27) | (0.07) | (0.34) |
Year Ended 2/28/2021 | $8.55 | 0.14 | 1.44 | 1.58 | (0.10) | (0.04) | (0.14) |
Year Ended 2/29/2020 | $9.24 | 0.22 | (0.56) | (0.34) | (0.33) | (0.02) | (0.35) |
Year Ended 2/28/2019 | $10.37 | 0.27 | (1.10) | (0.83) | (0.13) | (0.17) | (0.30) |
Advisor Class | |||||||
Year Ended 2/28/2023 | $10.08 | 0.25 | (0.22) | 0.03 | (0.08) | (0.10) | (0.18) |
Year Ended 2/28/2022 | $9.96 | 0.25 | 0.24 | 0.49 | (0.30) | (0.07) | (0.37) |
Year Ended 2/28/2021 | $8.53 | 0.16 | 1.43 | 1.59 | (0.12) | (0.04) | (0.16) |
Year Ended 2/29/2020 | $9.21 | 0.22 | (0.52) | (0.30) | (0.36) | (0.02) | (0.38) |
Year Ended 2/28/2019 | $10.35 | 0.28 | (1.10) | (0.82) | (0.15) | (0.17) | (0.32) |
Class C | |||||||
Year Ended 2/28/2023 | $10.03 | 0.17 | (0.24) | (0.07) | (0.00)(f) | (0.10) | (0.10) |
Year Ended 2/28/2022 | $9.91 | 0.16 | 0.22 | 0.38 | (0.19) | (0.07) | (0.26) |
Year Ended 2/28/2021 | $8.50 | 0.08 | 1.41 | 1.49 | (0.04) | (0.04) | (0.08) |
Year Ended 2/29/2020 | $9.20 | 0.16 | (0.57) | (0.41) | (0.27) | (0.02) | (0.29) |
Year Ended 2/28/2019 | $10.31 | 0.20 | (1.09) | (0.89) | (0.05) | (0.17) | (0.22) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $10.13 | 0.25 | (0.22) | 0.03 | (0.08) | (0.10) | (0.18) |
Year Ended 2/28/2022 | $10.01 | 0.26 | 0.23 | 0.49 | (0.30) | (0.07) | (0.37) |
Year Ended 2/28/2021 | $8.57 | 0.16 | 1.44 | 1.60 | (0.12) | (0.04) | (0.16) |
Year Ended 2/29/2020 | $9.25 | 0.24 | (0.54) | (0.30) | (0.36) | (0.02) | (0.38) |
Year Ended 2/28/2019 | $10.38 | 0.29 | (1.10) | (0.81) | (0.15) | (0.17) | (0.32) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $10.07 | 0.26 | (0.22) | 0.04 | (0.09) | (0.10) | (0.19) |
Year Ended 2/28/2022 | $9.95 | 0.27 | 0.23 | 0.50 | (0.31) | (0.07) | (0.38) |
Year Ended 2/28/2021 | $8.52 | 0.16 | 1.44 | 1.60 | (0.13) | (0.04) | (0.17) |
Year Ended 2/29/2020 | $9.20 | 0.25 | (0.54) | (0.29) | (0.37) | (0.02) | (0.39) |
Year Ended 2/28/2019 | $10.33 | 0.30 | (1.10) | (0.80) | (0.16) | (0.17) | (0.33) |
20 | Columbia Overseas Value Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $9.95 | 0.15% | 1.22%(c),(d) | 1.16%(c),(d),(e) | 2.53% | 36% | $300,207 |
Year Ended 2/28/2022 | $10.11 | 4.65% | 1.21%(c) | 1.15%(c),(e) | 2.20% | 43% | $338,513 |
Year Ended 2/28/2021 | $9.99 | 18.68% | 1.28%(c),(d) | 1.18%(c),(d),(e) | 1.65% | 54% | $320,615 |
Year Ended 2/29/2020 | $8.55 | (4.10%) | 1.24%(c) | 1.22%(c),(e) | 2.35% | 35% | $309,065 |
Year Ended 2/28/2019 | $9.24 | (7.96%) | 1.29%(c),(d) | 1.25%(c),(d),(e) | 2.80% | 58% | $341,198 |
Advisor Class | |||||||
Year Ended 2/28/2023 | $9.93 | 0.46% | 0.97%(c),(d) | 0.91%(c),(d),(e) | 2.69% | 36% | $428,050 |
Year Ended 2/28/2022 | $10.08 | 4.93% | 0.96%(c) | 0.90%(c),(e) | 2.37% | 43% | $404,891 |
Year Ended 2/28/2021 | $9.96 | 18.86% | 1.03%(c),(d) | 0.93%(c),(d),(e) | 1.85% | 54% | $288,182 |
Year Ended 2/29/2020 | $8.53 | (3.78%) | 0.99%(c) | 0.97%(c),(e) | 2.41% | 35% | $210,152 |
Year Ended 2/28/2019 | $9.21 | (7.80%) | 1.04%(c),(d) | 0.99%(c),(d),(e) | 2.96% | 58% | $161,150 |
Class C | |||||||
Year Ended 2/28/2023 | $9.86 | (0.56%) | 1.97%(c),(d) | 1.91%(c),(d),(e) | 1.82% | 36% | $15,532 |
Year Ended 2/28/2022 | $10.03 | 3.88% | 1.96%(c) | 1.90%(c),(e) | 1.50% | 43% | $19,243 |
Year Ended 2/28/2021 | $9.91 | 17.66% | 2.03%(c),(d) | 1.93%(c),(d),(e) | 0.98% | 54% | $22,436 |
Year Ended 2/29/2020 | $8.50 | (4.81%) | 1.99%(c) | 1.97%(c),(e) | 1.73% | 35% | $28,608 |
Year Ended 2/28/2019 | $9.20 | (8.60%) | 2.04%(c),(d) | 2.00%(c),(d),(e) | 2.09% | 58% | $42,165 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $9.98 | 0.46% | 0.97%(c),(d) | 0.91%(c),(d),(e) | 2.72% | 36% | $489,364 |
Year Ended 2/28/2022 | $10.13 | 4.91% | 0.96%(c) | 0.90%(c),(e) | 2.40% | 43% | $518,966 |
Year Ended 2/28/2021 | $10.01 | 18.89% | 1.03%(c),(d) | 0.93%(c),(d),(e) | 1.93% | 54% | $402,868 |
Year Ended 2/29/2020 | $8.57 | (3.76%) | 0.99%(c) | 0.97%(c),(e) | 2.54% | 35% | $443,217 |
Year Ended 2/28/2019 | $9.25 | (7.69%) | 1.04%(c),(d) | 1.00%(c),(d),(e) | 3.05% | 58% | $432,061 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $9.92 | 0.53% | 0.88%(c),(d) | 0.82%(c),(d) | 2.85% | 36% | $660,833 |
Year Ended 2/28/2022 | $10.07 | 5.02% | 0.88%(c) | 0.82%(c) | 2.52% | 43% | $716,539 |
Year Ended 2/28/2021 | $9.95 | 18.99% | 0.93%(c),(d) | 0.84%(c),(d) | 1.92% | 54% | $547,159 |
Year Ended 2/29/2020 | $8.52 | (3.68%) | 0.90%(c) | 0.86%(c) | 2.70% | 35% | $493,226 |
Year Ended 2/28/2019 | $9.20 | (7.61%) | 0.96%(c),(d) | 0.88%(c),(d) | 3.39% | 58% | $533,584 |
Columbia Overseas Value Fund | Annual Report 2023 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $10.08 | 0.26 | (0.22) | 0.04 | (0.09) | (0.10) | (0.19) |
Year Ended 2/28/2022 | $9.96 | 0.26 | 0.24 | 0.50 | (0.31) | (0.07) | (0.38) |
Year Ended 2/28/2021 | $8.53 | 0.16 | 1.44 | 1.60 | (0.13) | (0.04) | (0.17) |
Year Ended 2/29/2020 | $9.21 | 0.25 | (0.54) | (0.29) | (0.37) | (0.02) | (0.39) |
Year Ended 2/28/2019 | $10.35 | 0.30 | (1.10) | (0.80) | (0.17) | (0.17) | (0.34) |
Class R | |||||||
Year Ended 2/28/2023 | $9.84 | 0.20 | (0.22) | (0.02) | (0.04) | (0.10) | (0.14) |
Year Ended 2/28/2022 | $9.73 | 0.19 | 0.24 | 0.43 | (0.25) | (0.07) | (0.32) |
Year Ended 2/28/2021 | $8.34 | 0.11 | 1.40 | 1.51 | (0.08) | (0.04) | (0.12) |
Year Ended 2/29/2020 | $9.02 | 0.18 | (0.53) | (0.35) | (0.31) | (0.02) | (0.33) |
Year Ended 2/28/2019 | $10.13 | 0.23 | (1.07) | (0.84) | (0.10) | (0.17) | (0.27) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | Rounds to zero. |
22 | Columbia Overseas Value Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $9.93 | 0.57% | 0.83%(c),(d) | 0.77%(c),(d) | 2.81% | 36% | $791,531 |
Year Ended 2/28/2022 | $10.08 | 5.07% | 0.83%(c) | 0.77%(c) | 2.46% | 43% | $721,028 |
Year Ended 2/28/2021 | $9.96 | 19.00% | 0.88%(c),(d) | 0.79%(c),(d) | 1.93% | 54% | $410,541 |
Year Ended 2/29/2020 | $8.53 | (3.65%) | 0.85%(c) | 0.83%(c) | 2.67% | 35% | $260,599 |
Year Ended 2/28/2019 | $9.21 | (7.64%) | 0.89%(c),(d) | 0.85%(c),(d) | 3.11% | 58% | $248,248 |
Class R | |||||||
Year Ended 2/28/2023 | $9.68 | (0.05%) | 1.47%(c),(d) | 1.41%(c),(d),(e) | 2.25% | 36% | $13,962 |
Year Ended 2/28/2022 | $9.84 | 4.40% | 1.47%(c) | 1.40%(c),(e) | 1.84% | 43% | $15,567 |
Year Ended 2/28/2021 | $9.73 | 18.29% | 1.53%(c),(d) | 1.43%(c),(d),(e) | 1.36% | 54% | $8,621 |
Year Ended 2/29/2020 | $8.34 | (4.30%) | 1.49%(c) | 1.47%(c),(e) | 2.00% | 35% | $7,209 |
Year Ended 2/28/2019 | $9.02 | (8.20%) | 1.55%(c),(d) | 1.49%(c),(d),(e) | 2.47% | 58% | $5,864 |
Columbia Overseas Value Fund | Annual Report 2023 | 23 |
February 28, 2023
24 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Columbia Overseas Value Fund | Annual Report 2023 | 25 |
February 28, 2023
26 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 6,835,263 |
Columbia Overseas Value Fund | Annual Report 2023 | 27 |
February 28, 2023
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Options contracts written, at value | 1,536,610 |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 8,630,214 |
Total | 10,166,824 |
Amount of realized gain (loss) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | 3,698,527 | (1,197,553) | 2,500,974 |
Foreign exchange risk | 1,513,786 | — | — | 1,513,786 |
Total | 1,513,786 | 3,698,527 | (1,197,553) | 4,014,760 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | (704,051) | — | (704,051) |
Foreign exchange risk | (3,871,978) | — | — | (3,871,978) |
Total | (3,871,978) | (704,051) | — | (4,576,029) |
Derivative instrument | Average value ($)* |
Options contracts — purchased | 304,426 |
Options contracts — written | (791,216) |
Derivative instrument | Average unrealized appreciation ($)* | Average unrealized depreciation ($)* |
Forward foreign currency exchange contracts | 10,399,324 | (8,643,355) |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2023. |
28 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Goldman Sachs International ($) | Morgan Stanley ($) | Total ($) | |
Assets | |||
Forward foreign currency exchange contracts | 6,835,263 | - | 6,835,263 |
Liabilities | |||
Forward foreign currency exchange contracts | 8,630,214 | - | 8,630,214 |
Options contracts written | - | 1,536,610 | 1,536,610 |
Total liabilities | 8,630,214 | 1,536,610 | 10,166,824 |
Total financial and derivative net assets | (1,794,951) | (1,536,610) | (3,331,561) |
Total collateral received (pledged) (a) | - | (1,536,610) | (1,536,610) |
Net amount (b) | (1,794,951) | - | (1,794,951) |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Overseas Value Fund | Annual Report 2023 | 29 |
February 28, 2023
30 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Effective rate (%) | |
Class A | 0.15 |
Advisor Class | 0.15 |
Class C | 0.15 |
Institutional Class | 0.15 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.15 |
Columbia Overseas Value Fund | Annual Report 2023 | 31 |
February 28, 2023
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 87,094 |
Class C | — | 1.00(b) | 271 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through June 30, 2024 | |
Class A | 1.16% |
Advisor Class | 0.91 |
Class C | 1.91 |
Institutional Class | 0.91 |
Institutional 2 Class | 0.82 |
Institutional 3 Class | 0.77 |
Class R | 1.41 |
32 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
91,743 | (91,743) | — |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
22,047,113 | 26,079,312 | 48,126,425 | 77,253,206 | 18,046,140 | 95,299,346 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
33,057,196 | — | (328,827,828) | 14,242,021 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
2,678,217,441 | 293,899,861 | (279,657,840) | 14,242,021 |
Columbia Overseas Value Fund | Annual Report 2023 | 33 |
February 28, 2023
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | (328,827,828) | (328,827,828) | — |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 1,300,000 | 1.32 | 1 |
34 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Shares | |
Class A | 4,285 |
Advisor Class | 4,039,099 |
($) | |
Net investment income | 64,507,000 |
Net realized gain | 81,877,000 |
Net change in unrealized appreciation/(depreciation) | (52,161,000) |
Net increase in net assets from operations | 94,223,000 |
Columbia Overseas Value Fund | Annual Report 2023 | 35 |
February 28, 2023
36 | Columbia Overseas Value Fund | Annual Report 2023 |
February 28, 2023
Columbia Overseas Value Fund | Annual Report 2023 | 37 |
February 28, 2023
38 | Columbia Overseas Value Fund | Annual Report 2023 |
Columbia Overseas Value Fund | Annual Report 2023 | 39 |
Qualified dividend income | Foreign taxes paid to foreign countries | Foreign taxes paid per share to foreign countries | Foreign source income | Foreign source income per share |
100.00% | $11,892,773 | $0.04 | $100,846,113 | $0.37 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
40 | Columbia Overseas Value Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Overseas Value Fund | Annual Report 2023 | 41 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
42 | Columbia Overseas Value Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
Columbia Overseas Value Fund | Annual Report 2023 | 43 |
(Unaudited)
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
44 | Columbia Overseas Value Fund | Annual Report 2023 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
Columbia Overseas Value Fund | Annual Report 2023 | 45 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img6357b4fb2.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img3dded2881.jpg)
February 28, 2023
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgc2cd00992.jpg)
3 | |
5 | |
7 | |
8 | |
14 | |
15 | |
16 | |
18 | |
22 | |
33 | |
34 | |
34 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imge5b168583.jpg)
Average annual total returns (%) (for the period ended February 28, 2023) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 07/31/96 | -7.84 | 8.85 | 11.87 | |
Advisor Class* | 07/01/15 | -7.65 | 9.12 | 12.08 | |
Institutional Class | 07/31/96 | -7.66 | 9.12 | 12.16 | |
Institutional 2 Class* | 06/25/14 | -7.49 | 9.25 | 12.22 | |
Institutional 3 Class | 07/15/09 | -7.47 | 9.31 | 12.32 | |
Class R | 01/23/06 | -8.08 | 8.58 | 11.59 | |
S&P 500 Index | -7.69 | 9.82 | 12.25 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 3 |
(Unaudited)
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/img18c2ba634.jpg)
Portfolio breakdown (%) (at February 28, 2023) | |
Common Stocks | 98.5 |
Money Market Funds | 1.5 |
Total | 100.0 |
Equity sector breakdown (%) (at February 28, 2023) | |
Communication Services | 7.4 |
Consumer Discretionary | 10.8 |
Consumer Staples | 6.4 |
Energy | 5.0 |
Financials | 11.4 |
Health Care | 14.6 |
Industrials | 8.8 |
Information Technology | 27.6 |
Materials | 2.6 |
Real Estate | 2.9 |
Utilities | 2.5 |
Total | 100.0 |
4 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
(Unaudited)
• | Selections within the consumer staples, industrials, financials and information technology sectors detracted most from the Fund’s performance relative to the benchmark during the period. |
• | Individual holdings that detracted most from the Fund’s performance relative to its benchmark included semiconductor company NVIDIA Corp., multinational oil and gas company Chevron Corp., online travel company Expedia Group, Inc., financial services company Lincoln National Corp. and consumer finance company Capital One Financial Corp. |
○ | Chevron delivered positive results, but the Fund’s underweight is what led to the detraction versus the benchmark. |
• | The Fund’s selections within the health care, consumer discretionary and energy sectors contributed most to Fund performance versus the benchmark during the period. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 5 |
(Unaudited)
• | Individual holdings that contributed most to the Fund’s performance relative to its benchmark included healthcare services company McKesson Corp., oil and gas giant Exxon Mobil Corp, semiconductor company Applied Materials, Inc. and steel manufacturer Nucor Corp. The Fund sold its position in McKesson. Not owning Intel also benefited relative results as both companies weighed heavily on the benchmark during the period. |
6 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
(Unaudited)
September 1, 2022 — February 28, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,016.50 | 1,020.68 | 4.15 | 4.16 | 0.83 |
Advisor Class | 1,000.00 | 1,000.00 | 1,017.60 | 1,021.92 | 2.90 | 2.91 | 0.58 |
Institutional Class | 1,000.00 | 1,000.00 | 1,017.80 | 1,021.92 | 2.90 | 2.91 | 0.58 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,018.60 | 1,022.56 | 2.25 | 2.26 | 0.45 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,018.50 | 1,022.81 | 2.00 | 2.01 | 0.40 |
Class R | 1,000.00 | 1,000.00 | 1,015.30 | 1,019.44 | 5.40 | 5.41 | 1.08 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 7 |
February 28, 2023
Common Stocks 98.4% | ||
Issuer | Shares | Value ($) |
Communication Services 7.3% | ||
Diversified Telecommunication Services 0.2% | ||
AT&T, Inc. | 44,613 | 843,632 |
Entertainment 0.8% | ||
Activision Blizzard, Inc. | 7,854 | 598,867 |
Electronic Arts, Inc. | 19,854 | 2,202,603 |
Total | 2,801,470 | |
Interactive Media & Services 5.5% | ||
Alphabet, Inc., Class A(a) | 139,410 | 12,555,264 |
Meta Platforms, Inc., Class A(a) | 36,206 | 6,333,878 |
Total | 18,889,142 | |
Media 0.8% | ||
Fox Corp., Class A | 54,285 | 1,901,061 |
Omnicom Group, Inc. | 7,467 | 676,286 |
Total | 2,577,347 | |
Total Communication Services | 25,111,591 | |
Consumer Discretionary 10.6% | ||
Automobiles 1.1% | ||
Tesla, Inc.(a) | 18,482 | 3,801,932 |
Distributors 0.3% | ||
Genuine Parts Co. | 6,751 | 1,193,982 |
Hotels, Restaurants & Leisure 1.6% | ||
Booking Holdings, Inc.(a) | 1,359 | 3,430,116 |
Expedia Group, Inc.(a) | 20,263 | 2,208,059 |
Total | 5,638,175 | |
Household Durables 1.8% | ||
Lennar Corp., Class A | 11,145 | 1,078,167 |
NVR, Inc.(a) | 497 | 2,571,289 |
PulteGroup, Inc. | 44,720 | 2,444,843 |
Total | 6,094,299 | |
Internet & Direct Marketing Retail 2.0% | ||
Amazon.com, Inc.(a) | 71,255 | 6,714,359 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Specialty Retail 3.8% | ||
AutoZone, Inc.(a) | 949 | 2,359,727 |
Best Buy Co., Inc. | 21,795 | 1,811,382 |
Home Depot, Inc. (The) | 5,247 | 1,555,945 |
Lowe’s Companies, Inc. | 14,747 | 3,034,195 |
O’Reilly Automotive, Inc.(a) | 2,752 | 2,284,435 |
Ulta Beauty, Inc.(a) | 3,547 | 1,840,184 |
Total | 12,885,868 | |
Total Consumer Discretionary | 36,328,615 | |
Consumer Staples 6.2% | ||
Beverages 0.4% | ||
Coca-Cola Co. (The) | 10,672 | 635,091 |
PepsiCo, Inc. | 4,716 | 818,367 |
Total | 1,453,458 | |
Food & Staples Retailing 0.7% | ||
Kroger Co. (The) | 55,374 | 2,388,834 |
Food Products 1.8% | ||
Archer-Daniels-Midland Co. | 32,350 | 2,575,060 |
Campbell Soup Co. | 18,900 | 992,628 |
General Mills, Inc. | 33,203 | 2,639,971 |
Total | 6,207,659 | |
Household Products 1.4% | ||
Kimberly-Clark Corp. | 6,547 | 818,702 |
Procter & Gamble Co. (The) | 28,374 | 3,903,128 |
Total | 4,721,830 | |
Tobacco 1.9% | ||
Altria Group, Inc. | 63,864 | 2,965,206 |
Philip Morris International, Inc. | 38,687 | 3,764,245 |
Total | 6,729,451 | |
Total Consumer Staples | 21,501,232 |
8 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Energy 5.0% | ||
Oil, Gas & Consumable Fuels 5.0% | ||
Chevron Corp. | 30,008 | 4,824,386 |
Exxon Mobil Corp. | 59,649 | 6,556,021 |
Marathon Petroleum Corp. | 23,091 | 2,854,048 |
Valero Energy Corp. | 21,275 | 2,802,556 |
Total | 17,037,011 | |
Total Energy | 17,037,011 | |
Financials 11.2% | ||
Banks 2.9% | ||
Bank of America Corp. | 30,019 | 1,029,652 |
Citigroup, Inc. | 66,959 | 3,394,152 |
JPMorgan Chase & Co. | 13,252 | 1,899,674 |
Regions Financial Corp. | 73,140 | 1,705,625 |
Wells Fargo & Co. | 45,502 | 2,128,128 |
Total | 10,157,231 | |
Capital Markets 3.0% | ||
CME Group, Inc. | 10,190 | 1,888,818 |
Invesco Ltd. | 129,381 | 2,284,868 |
Morgan Stanley | 38,332 | 3,699,038 |
State Street Corp. | 26,686 | 2,366,515 |
Total | 10,239,239 | |
Consumer Finance 1.0% | ||
Capital One Financial Corp. | 7,592 | 828,135 |
Synchrony Financial | 72,669 | 2,595,010 |
Total | 3,423,145 | |
Diversified Financial Services 0.9% | ||
Berkshire Hathaway, Inc., Class B(a) | 10,582 | 3,229,415 |
Insurance 3.4% | ||
American International Group, Inc. | 42,156 | 2,576,153 |
Aon PLC, Class A | 6,491 | 1,973,588 |
Lincoln National Corp. | 39,273 | 1,245,740 |
Marsh & McLennan Companies, Inc. | 18,826 | 3,052,448 |
MetLife, Inc. | 38,367 | 2,752,065 |
Total | 11,599,994 | |
Total Financials | 38,649,024 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care 14.3% | ||
Biotechnology 2.7% | ||
AbbVie, Inc. | 27,270 | 4,196,853 |
Amgen, Inc. | 3,306 | 765,868 |
Gilead Sciences, Inc. | 9,573 | 770,914 |
Regeneron Pharmaceuticals, Inc.(a) | 1,919 | 1,459,246 |
Vertex Pharmaceuticals, Inc.(a) | 7,202 | 2,090,668 |
Total | 9,283,549 | |
Health Care Equipment & Supplies 2.4% | ||
Abbott Laboratories | 38,176 | 3,883,263 |
Hologic, Inc.(a) | 28,265 | 2,251,024 |
Zimmer Biomet Holdings, Inc. | 16,740 | 2,073,584 |
Total | 8,207,871 | |
Health Care Providers & Services 3.6% | ||
Cardinal Health, Inc. | 28,248 | 2,138,656 |
Centene Corp.(a) | 33,455 | 2,288,322 |
Humana, Inc. | 5,670 | 2,806,764 |
McKesson Corp. | 7,700 | 2,693,537 |
UnitedHealth Group, Inc. | 5,396 | 2,568,172 |
Total | 12,495,451 | |
Life Sciences Tools & Services 1.5% | ||
Agilent Technologies, Inc. | 13,300 | 1,888,201 |
IQVIA Holdings, Inc.(a) | 12,179 | 2,538,956 |
Mettler-Toledo International, Inc.(a) | 561 | 804,312 |
Total | 5,231,469 | |
Pharmaceuticals 4.1% | ||
Bristol-Myers Squibb Co. | 50,440 | 3,478,342 |
Eli Lilly & Co. | 4,703 | 1,463,668 |
Johnson & Johnson | 13,832 | 2,119,892 |
Merck & Co., Inc. | 6,304 | 669,737 |
Pfizer, Inc. | 101,263 | 4,108,240 |
Viatris, Inc. | 190,382 | 2,170,355 |
Total | 14,010,234 | |
Total Health Care | 49,228,574 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 9 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Industrials 8.6% | ||
Aerospace & Defense 2.9% | ||
General Dynamics Corp. | 11,709 | 2,668,598 |
L3Harris Technologies, Inc. | 6,921 | 1,461,646 |
Lockheed Martin Corp. | 6,759 | 3,205,523 |
Textron, Inc. | 36,613 | 2,655,541 |
Total | 9,991,308 | |
Air Freight & Logistics 0.9% | ||
Expeditors International of Washington, Inc. | 14,710 | 1,538,078 |
United Parcel Service, Inc., Class B | 8,847 | 1,614,489 |
Total | 3,152,567 | |
Airlines 0.1% | ||
Southwest Airlines Co. | 13,389 | 449,603 |
Building Products 0.7% | ||
Masco Corp. | 48,054 | 2,519,471 |
Commercial Services & Supplies 1.3% | ||
Cintas Corp. | 6,084 | 2,667,652 |
Republic Services, Inc. | 14,908 | 1,922,088 |
Total | 4,589,740 | |
Electrical Equipment 0.7% | ||
Emerson Electric Co. | 28,300 | 2,340,693 |
Industrial Conglomerates 0.3% | ||
3M Co. | 7,647 | 823,888 |
Machinery 1.4% | ||
Fortive Corp. | 28,262 | 1,883,945 |
Parker-Hannifin Corp. | 8,226 | 2,894,318 |
Total | 4,778,263 | |
Road & Rail 0.3% | ||
CSX Corp. | 32,141 | 979,979 |
Total Industrials | 29,625,512 | |
Information Technology 27.2% | ||
Communications Equipment 1.2% | ||
Cisco Systems, Inc. | 87,676 | 4,245,272 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
IT Services 3.1% | ||
MasterCard, Inc., Class A | 13,884 | 4,932,846 |
PayPal Holdings, Inc.(a) | 10,662 | 784,723 |
Visa, Inc., Class A | 21,935 | 4,824,384 |
Total | 10,541,953 | |
Semiconductors & Semiconductor Equipment 5.3% | ||
Advanced Micro Devices, Inc.(a) | 48,300 | 3,795,414 |
Applied Materials, Inc. | 27,618 | 3,207,831 |
Enphase Energy, Inc.(a) | 4,331 | 911,805 |
Lam Research Corp. | 6,358 | 3,090,052 |
NVIDIA Corp. | 14,732 | 3,420,181 |
QUALCOMM, Inc. | 30,595 | 3,779,400 |
Total | 18,204,683 | |
Software 10.2% | ||
Adobe, Inc.(a) | 10,670 | 3,456,547 |
Autodesk, Inc.(a) | 13,293 | 2,641,186 |
Cadence Design Systems, Inc.(a) | 13,814 | 2,665,273 |
Fortinet, Inc.(a) | 38,792 | 2,305,796 |
Microsoft Corp.(b) | 84,031 | 20,959,012 |
Synopsys, Inc.(a) | 7,814 | 2,842,421 |
Total | 34,870,235 | |
Technology Hardware, Storage & Peripherals 7.4% | ||
Apple, Inc. | 167,939 | 24,755,888 |
HP, Inc. | 23,555 | 695,344 |
Total | 25,451,232 | |
Total Information Technology | 93,313,375 | |
Materials 2.6% | ||
Chemicals 1.8% | ||
CF Industries Holdings, Inc. | 26,818 | 2,303,398 |
LyondellBasell Industries NV, Class A | 13,649 | 1,310,167 |
Mosaic Co. (The) | 44,041 | 2,342,541 |
Total | 5,956,106 | |
Metals & Mining 0.8% | ||
Nucor Corp. | 17,048 | 2,854,517 |
Total Materials | 8,810,623 |
10 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate 2.9% | ||
Equity Real Estate Investment Trusts (REITS) 2.9% | ||
American Tower Corp. | 5,000 | 990,050 |
Equinix, Inc. | 1,169 | 804,588 |
Host Hotels & Resorts, Inc. | 130,393 | 2,190,602 |
SBA Communications Corp. | 8,080 | 2,095,548 |
Simon Property Group, Inc. | 21,210 | 2,589,529 |
Weyerhaeuser Co. | 40,124 | 1,253,875 |
Total | 9,924,192 | |
Total Real Estate | 9,924,192 | |
Utilities 2.5% | ||
Electric Utilities 2.5% | ||
American Electric Power Co., Inc. | 29,024 | 2,553,241 |
Entergy Corp. | 18,922 | 1,946,506 |
Evergy, Inc. | 27,923 | 1,642,152 |
Pinnacle West Capital Corp. | 31,401 | 2,313,626 |
Total | 8,455,525 | |
Total Utilities | 8,455,525 | |
Total Common Stocks (Cost $228,349,706) | 337,985,274 | |
Money Market Funds 1.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.748%(c),(d) | 5,141,842 | 5,139,785 |
Total Money Market Funds (Cost $5,139,735) | 5,139,785 | |
Total Investments in Securities (Cost: $233,489,441) | 343,125,059 | |
Other Assets & Liabilities, Net | 384,232 | |
Net Assets | 343,509,291 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 31 | 03/2023 | USD | 6,162,025 | 176,737 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at February 28, 2023. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended February 28, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.748% | ||||||||
10,064,564 | 110,169,981 | (115,095,287) | 527 | 5,139,785 | (1,855) | 141,865 | 5,141,842 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 11 |
February 28, 2023
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 25,111,591 | — | — | 25,111,591 |
Consumer Discretionary | 36,328,615 | — | — | 36,328,615 |
Consumer Staples | 21,501,232 | — | — | 21,501,232 |
Energy | 17,037,011 | — | — | 17,037,011 |
Financials | 38,649,024 | — | — | 38,649,024 |
Health Care | 49,228,574 | — | — | 49,228,574 |
Industrials | 29,625,512 | — | — | 29,625,512 |
Information Technology | 93,313,375 | — | — | 93,313,375 |
Materials | 8,810,623 | — | — | 8,810,623 |
Real Estate | 9,924,192 | — | — | 9,924,192 |
Utilities | 8,455,525 | — | — | 8,455,525 |
Total Common Stocks | 337,985,274 | — | — | 337,985,274 |
Money Market Funds | 5,139,785 | — | — | 5,139,785 |
Total Investments in Securities | 343,125,059 | — | — | 343,125,059 |
12 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 176,737 | — | — | 176,737 |
Total | 343,301,796 | — | — | 343,301,796 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 13 |
February 28, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $228,349,706) | $337,985,274 |
Affiliated issuers (cost $5,139,735) | 5,139,785 |
Cash | 4,467 |
Receivable for: | |
Investments sold | 10,177,034 |
Capital shares sold | 364,286 |
Dividends | 578,203 |
Expense reimbursement due from Investment Manager | 4,015 |
Prepaid expenses | 7,385 |
Total assets | 354,260,449 |
Liabilities | |
Payable for: | |
Investments purchased | 10,180,751 |
Capital shares purchased | 355,777 |
Variation margin for futures contracts | 19,375 |
Management services fees | 7,080 |
Distribution and/or service fees | 932 |
Transfer agent fees | 40,471 |
Compensation of board members | 120,551 |
Compensation of chief compliance officer | 67 |
Other expenses | 26,154 |
Total liabilities | 10,751,158 |
Net assets applicable to outstanding capital stock | $343,509,291 |
Represented by | |
Paid in capital | 232,270,397 |
Total distributable earnings (loss) | 111,238,894 |
Total - representing net assets applicable to outstanding capital stock | $343,509,291 |
Class A | |
Net assets | $50,648,185 |
Shares outstanding | 2,324,481 |
Net asset value per share | $21.79 |
Advisor Class | |
Net assets | $7,676,776 |
Shares outstanding | 358,989 |
Net asset value per share | $21.38 |
Institutional Class | |
Net assets | $66,112,398 |
Shares outstanding | 3,041,773 |
Net asset value per share | $21.73 |
Institutional 2 Class | |
Net assets | $4,174,680 |
Shares outstanding | 193,309 |
Net asset value per share | $21.60 |
Institutional 3 Class | |
Net assets | $172,477,570 |
Shares outstanding | 7,928,944 |
Net asset value per share | $21.75 |
Class R | |
Net assets | $42,419,682 |
Shares outstanding | 1,954,736 |
Net asset value per share | $21.70 |
14 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
Year Ended February 28, 2023
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $6,351,763 |
Dividends — affiliated issuers | 141,865 |
Interfund lending | 277 |
Total income | 6,493,905 |
Expenses: | |
Management services fees | 2,836,832 |
Distribution and/or service fees | |
Class A | 134,794 |
Class R | 226,486 |
Transfer agent fees | |
Class A | 97,277 |
Advisor Class | 14,035 |
Institutional Class | 132,403 |
Institutional 2 Class | 3,033 |
Institutional 3 Class | 13,104 |
Class R | 81,724 |
Compensation of board members | 14,139 |
Custodian fees | 13,912 |
Printing and postage fees | 20,740 |
Registration fees | 95,448 |
Audit fees | 32,840 |
Legal fees | 18,160 |
Interest on collateral | 167 |
Compensation of chief compliance officer | 66 |
Other | 16,067 |
Total expenses | 3,751,227 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,536,891) |
Fees waived by transfer agent | |
Institutional 2 Class | (485) |
Institutional 3 Class | (13,104) |
Expense reduction | (39) |
Total net expenses | 2,200,708 |
Net investment income | 4,293,197 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 9,277,262 |
Investments — affiliated issuers | (1,855) |
Foreign currency translations | (40) |
Futures contracts | (573,794) |
Net realized gain | 8,701,573 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (39,884,059) |
Investments — affiliated issuers | 527 |
Futures contracts | 398,261 |
Net change in unrealized appreciation (depreciation) | (39,485,271) |
Net realized and unrealized loss | (30,783,698) |
Net decrease in net assets resulting from operations | $(26,490,501) |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 15 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $4,293,197 | $4,906,725 |
Net realized gain | 8,701,573 | 116,268,095 |
Net change in unrealized appreciation (depreciation) | (39,485,271) | (29,223,494) |
Net increase (decrease) in net assets resulting from operations | (26,490,501) | 91,951,326 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (4,229,487) | (15,720,116) |
Advisor Class | (647,075) | (2,090,505) |
Institutional Class | (5,964,414) | (22,298,922) |
Institutional 2 Class | (416,835) | (1,892,219) |
Institutional 3 Class | (17,296,813) | (53,752,772) |
Class R | (3,420,756) | (13,055,006) |
Total distributions to shareholders | (31,975,380) | (108,809,540) |
Decrease in net assets from capital stock activity | (7,041,437) | (61,711,493) |
Total decrease in net assets | (65,507,318) | (78,569,707) |
Net assets at beginning of year | 409,016,609 | 487,586,316 |
Net assets at end of year | $343,509,291 | $409,016,609 |
16 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
Year Ended | Year Ended | |||
February 28, 2023 | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 300,972 | 6,767,130 | 324,168 | 9,387,862 |
Distributions reinvested | 155,941 | 3,295,005 | 454,796 | 12,508,794 |
Redemptions | (505,548) | (11,325,632) | (545,889) | (15,786,572) |
Net increase (decrease) | (48,635) | (1,263,497) | 233,075 | 6,110,084 |
Advisor Class | ||||
Subscriptions | 60,011 | 1,330,184 | 47,974 | 1,440,214 |
Distributions reinvested | 31,155 | 647,075 | 77,442 | 2,090,505 |
Redemptions | (66,806) | (1,432,980) | (86,688) | (2,528,250) |
Net increase | 24,360 | 544,279 | 38,728 | 1,002,469 |
Institutional Class | ||||
Subscriptions | 365,919 | 8,158,042 | 477,447 | 13,232,520 |
Distributions reinvested | 241,927 | 5,102,985 | 697,927 | 19,154,056 |
Redemptions | (996,820) | (22,525,800) | (876,756) | (25,332,187) |
Net increase (decrease) | (388,974) | (9,264,773) | 298,618 | 7,054,389 |
Institutional 2 Class | ||||
Subscriptions | 42,108 | 973,584 | 67,414 | 1,975,397 |
Distributions reinvested | 19,359 | 405,686 | 67,519 | 1,846,529 |
Redemptions | (127,983) | (2,881,060) | (197,380) | (5,849,287) |
Net decrease | (66,516) | (1,501,790) | (62,447) | (2,027,361) |
Institutional 3 Class | ||||
Subscriptions | 7,101,537 | 156,190,261 | 700,226 | 20,034,893 |
Distributions reinvested | 507,875 | 10,705,331 | 951,957 | 26,126,306 |
Redemptions | (7,208,789) | (160,941,922) | (3,806,575) | (114,838,980) |
Net increase (decrease) | 400,623 | 5,953,670 | (2,154,392) | (68,677,781) |
Class R | ||||
Subscriptions | 423,831 | 9,636,288 | 473,731 | 13,757,874 |
Distributions reinvested | 158,700 | 3,338,055 | 461,727 | 12,684,637 |
Redemptions | (640,258) | (14,483,669) | (1,060,505) | (31,615,804) |
Net decrease | (57,727) | (1,509,326) | (125,047) | (5,173,293) |
Total net decrease | (136,869) | (7,041,437) | (1,771,465) | (61,711,493) |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 2/28/2023 | $25.71 | 0.20 | (2.31) | (2.11) | (0.18) | (1.63) | (1.81) |
Year Ended 2/28/2022 | $27.58 | 0.25 | 5.49 | 5.74 | (0.26) | (7.35) | (7.61) |
Year Ended 2/28/2021 | $23.11 | 0.25 | 6.18 | 6.43 | (0.26) | (1.70) | (1.96) |
Year Ended 2/29/2020 | $23.52 | 0.27 | 0.32 | 0.59 | (0.24) | (0.76) | (1.00) |
Year Ended 2/28/2019 | $25.12 | 0.28 | 0.69 | 0.97 | (0.24) | (2.33) | (2.57) |
Advisor Class | |||||||
Year Ended 2/28/2023 | $25.28 | 0.25 | (2.28) | (2.03) | (0.24) | (1.63) | (1.87) |
Year Ended 2/28/2022 | $27.21 | 0.31 | 5.44 | 5.75 | (0.33) | (7.35) | (7.68) |
Year Ended 2/28/2021 | $22.83 | 0.31 | 6.09 | 6.40 | (0.32) | (1.70) | (2.02) |
Year Ended 2/29/2020 | $23.23 | 0.33 | 0.32 | 0.65 | (0.29) | (0.76) | (1.05) |
Year Ended 2/28/2019 | $24.85 | 0.36 | 0.65 | 1.01 | (0.30) | (2.33) | (2.63) |
Institutional Class | |||||||
Year Ended 2/28/2023 | $25.66 | 0.26 | (2.32) | (2.06) | (0.24) | (1.63) | (1.87) |
Year Ended 2/28/2022 | $27.53 | 0.32 | 5.49 | 5.81 | (0.33) | (7.35) | (7.68) |
Year Ended 2/28/2021 | $23.07 | 0.31 | 6.17 | 6.48 | (0.32) | (1.70) | (2.02) |
Year Ended 2/29/2020 | $23.47 | 0.32 | 0.33 | 0.65 | (0.29) | (0.76) | (1.05) |
Year Ended 2/28/2019 | $25.07 | 0.34 | 0.69 | 1.03 | (0.30) | (2.33) | (2.63) |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $25.51 | 0.29 | (2.30) | (2.01) | (0.27) | (1.63) | (1.90) |
Year Ended 2/28/2022 | $27.40 | 0.36 | 5.48 | 5.84 | (0.38) | (7.35) | (7.73) |
Year Ended 2/28/2021 | $22.97 | 0.34 | 6.14 | 6.48 | (0.35) | (1.70) | (2.05) |
Year Ended 2/29/2020 | $23.37 | 0.35 | 0.32 | 0.67 | (0.31) | (0.76) | (1.07) |
Year Ended 2/28/2019 | $24.98 | 0.37 | 0.68 | 1.05 | (0.33) | (2.33) | (2.66) |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $25.68 | 0.30 | (2.31) | (2.01) | (0.29) | (1.63) | (1.92) |
Year Ended 2/28/2022 | $27.54 | 0.37 | 5.51 | 5.88 | (0.39) | (7.35) | (7.74) |
Year Ended 2/28/2021 | $23.08 | 0.35 | 6.17 | 6.52 | (0.36) | (1.70) | (2.06) |
Year Ended 2/29/2020 | $23.47 | 0.38 | 0.31 | 0.69 | (0.32) | (0.76) | (1.08) |
Year Ended 2/28/2019 | $25.07 | 0.38 | 0.69 | 1.07 | (0.34) | (2.33) | (2.67) |
18 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 2/28/2023 | $21.79 | (7.84%) | 1.24%(c) | 0.83%(c),(d) | 0.89% | 92% | $50,648 |
Year Ended 2/28/2022 | $25.71 | 20.15% | 1.23%(c) | 0.84%(c),(d) | 0.83% | 67% | $61,024 |
Year Ended 2/28/2021 | $27.58 | 29.53% | 1.25%(c) | 0.85%(c),(d) | 1.02% | 81% | $59,015 |
Year Ended 2/29/2020 | $23.11 | 2.33% | 1.20% | 0.88%(d) | 1.11% | 77% | $56,439 |
Year Ended 2/28/2019 | $23.52 | 4.14% | 1.21% | 0.89% | 1.17% | 99% | $75,497 |
Advisor Class | |||||||
Year Ended 2/28/2023 | $21.38 | (7.65%) | 0.99%(c) | 0.58%(c),(d) | 1.14% | 92% | $7,677 |
Year Ended 2/28/2022 | $25.28 | 20.50% | 0.98%(c) | 0.58%(c),(d) | 1.08% | 67% | $8,459 |
Year Ended 2/28/2021 | $27.21 | 29.79% | 1.00%(c) | 0.61%(c),(d) | 1.29% | 81% | $8,052 |
Year Ended 2/29/2020 | $22.83 | 2.60% | 0.95% | 0.63%(d) | 1.38% | 77% | $12,021 |
Year Ended 2/28/2019 | $23.23 | 4.38% | 0.96% | 0.64% | 1.53% | 99% | $5,222 |
Institutional Class | |||||||
Year Ended 2/28/2023 | $21.73 | (7.66%) | 0.99%(c) | 0.58%(c),(d) | 1.14% | 92% | $66,112 |
Year Ended 2/28/2022 | $25.66 | 20.49% | 0.98%(c) | 0.59%(c),(d) | 1.08% | 67% | $88,028 |
Year Ended 2/28/2021 | $27.53 | 29.83% | 1.00%(c) | 0.60%(c),(d) | 1.27% | 81% | $86,219 |
Year Ended 2/29/2020 | $23.07 | 2.58% | 0.94% | 0.63%(d) | 1.34% | 77% | $97,348 |
Year Ended 2/28/2019 | $23.47 | 4.42% | 0.96% | 0.64% | 1.41% | 99% | $329,587 |
Institutional 2 Class | |||||||
Year Ended 2/28/2023 | $21.60 | (7.49%) | 0.86%(c) | 0.45%(c) | 1.26% | 92% | $4,175 |
Year Ended 2/28/2022 | $25.51 | 20.67% | 0.85%(c) | 0.45%(c) | 1.21% | 67% | $6,628 |
Year Ended 2/28/2021 | $27.40 | 29.96% | 0.86%(c) | 0.48%(c) | 1.40% | 81% | $8,831 |
Year Ended 2/29/2020 | $22.97 | 2.66% | 0.85% | 0.54% | 1.46% | 77% | $11,538 |
Year Ended 2/28/2019 | $23.37 | 4.50% | 0.87% | 0.54% | 1.56% | 99% | $26,349 |
Institutional 3 Class | |||||||
Year Ended 2/28/2023 | $21.75 | (7.47%) | 0.81%(c) | 0.40%(c) | 1.32% | 92% | $172,478 |
Year Ended 2/28/2022 | $25.68 | 20.73% | 0.80%(c) | 0.40%(c) | 1.25% | 67% | $193,329 |
Year Ended 2/28/2021 | $27.54 | 30.01% | 0.81%(c) | 0.43%(c) | 1.44% | 81% | $266,693 |
Year Ended 2/29/2020 | $23.08 | 2.73% | 0.81% | 0.49% | 1.59% | 77% | $173,757 |
Year Ended 2/28/2019 | $23.47 | 4.58% | 0.81% | 0.49% | 1.61% | 99% | $55,689 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R | |||||||
Year Ended 2/28/2023 | $25.61 | 0.14 | (2.29) | (2.15) | (0.13) | (1.63) | (1.76) |
Year Ended 2/28/2022 | $27.50 | 0.17 | 5.47 | 5.64 | (0.18) | (7.35) | (7.53) |
Year Ended 2/28/2021 | $23.05 | 0.19 | 6.16 | 6.35 | (0.20) | (1.70) | (1.90) |
Year Ended 2/29/2020 | $23.48 | 0.21 | 0.31 | 0.52 | (0.19) | (0.76) | (0.95) |
Year Ended 2/28/2019 | $25.08 | 0.22 | 0.69 | 0.91 | (0.18) | (2.33) | (2.51) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
20 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class R | |||||||
Year Ended 2/28/2023 | $21.70 | (8.08%) | 1.49%(c) | 1.08%(c),(d) | 0.64% | 92% | $42,420 |
Year Ended 2/28/2022 | $25.61 | 19.85% | 1.48%(c) | 1.09%(c),(d) | 0.57% | 67% | $51,549 |
Year Ended 2/28/2021 | $27.50 | 29.22% | 1.50%(c) | 1.10%(c),(d) | 0.77% | 81% | $58,775 |
Year Ended 2/29/2020 | $23.05 | 2.04% | 1.45% | 1.13%(d) | 0.86% | 77% | $51,362 |
Year Ended 2/28/2019 | $23.48 | 3.88% | 1.46% | 1.14% | 0.93% | 99% | $53,131 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 21 |
February 28, 2023
22 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 23 |
February 28, 2023
24 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 176,737* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Equity risk | (573,794) | |||||
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Equity risk | 398,261 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 6,460,688 |
* | Based on the ending quarterly outstanding amounts for the year ended February 28, 2023. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 25 |
February 28, 2023
26 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 27 |
February 28, 2023
Effective rate (%) | |
Class A | 0.18 |
Advisor Class | 0.18 |
Institutional Class | 0.18 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Class R | 0.18 |
July 1, 2022 through June 30, 2023 | Prior to July 1, 2022 | |
Class A | 0.83% | 0.84% |
Advisor Class | 0.58 | 0.59 |
Institutional Class | 0.58 | 0.59 |
Institutional 2 Class | 0.45 | 0.45 |
Institutional 3 Class | 0.40 | 0.40 |
Class R | 1.08 | 1.09 |
28 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(95,218) | (516,782) | 612,000 |
Year Ended February 28, 2023 | Year Ended February 28, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
8,122,502 | 23,852,878 | 31,975,380 | 39,316,763 | 69,492,777 | 108,809,540 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
803,061 | 5,320,316 | — | 105,234,562 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
238,067,234 | 110,601,310 | (5,366,748) | 105,234,562 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 29 |
February 28, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 7,400,000 | 1.35 | 1 |
30 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
February 28, 2023
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 31 |
February 28, 2023
32 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 33 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
51.68% | 51.40% | 1.27% | $12,483,135 |
34 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
(Unaudited)
Independent trustees
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993-1994 |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 35 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm), since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform), since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Treasurer, Edinburgh University US Trust Board; Member, HBS Community Action Partners Board; Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Former Trustee, MA Taxpayers Foundation,1997-2022; former Governing Board Member (Chairperson of Innovation Index Advisory Committee), MA Technology Collaborative, 1997-2020; former Director, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation, since 2004 |
36 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | Independent business executive, since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (Chair of the Board) (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007-2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 174 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Advisor to Bridgewater Associates and The Carlyle Group |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 37 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, since April 2015; President and Principal Executive Officer of the Columbia Funds, since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since, January 2022; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
38 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
(Unaudited)
The Statement of Additional Information has additional information about the Fund’s Board members and is available, without charge, upon request by calling 800.345.6611, visiting columbiathreadneedleus.com/investor/ or contacting your financial intermediary.
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively. |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds, since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Columbia Large Cap Enhanced Core Fund | Annual Report 2023 | 39 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds, since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
40 | Columbia Large Cap Enhanced Core Fund | Annual Report 2023 |
![](https://capedge.com/proxy/N-CSR/0001683863-23-004525/imgc2cd00992.jpg)
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
(a) | The registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(b) | During the period covered by this report, there were not any amendments to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item. |
(c) | During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the code of ethics to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party that relates to one or more of the items set forth in paragraph (b) of this Item. |
Item 3. Audit Committee Financial Expert.
The registrant’s Board of Trustees has determined that David M. Moffett, Brian J. Gallagher, J. Kevin Connaughton, Sandra L. Yeager, and Douglas A. Hacker, each of whom are members of the registrant’s Board of Trustees and Audit Committee, each qualify as an audit committee financial expert. Mr. Moffett, Mr. Gallagher, Mr. Connaughton, Ms. Yeager, and Mr. Hacker are each independent trustees, as defined in paragraph (a)(2) of this item’s instructions.
Item 4. Principal Accountant Fees and Services.
Fee information below is disclosed for the ten series of the registrant whose reports to stockholders are included in this annual filing.
(a) Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended February 28, 2023 and February 28, 2022 are approximately as follows:
2023 | 2022 |
$300,900 | $295,000 |
Audit Fees include amounts related to the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
(b) Audit-Related Fees. Aggregate Audit-Related Fees billed to the registrant by the principal accountant for professional services rendered during the fiscal years ended February 28, 2023 and February 28, 2022 are approximately as follows:
2023 | 2022 |
$0 | $36,250 |
Audit-Related Fees include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported in Audit Fees above.
During the fiscal years ended February 28, 2023 and February 28, 2022, there were no Audit-Related Fees billed by the registrant’s principal accountant to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(c) Tax Fees. Aggregate Tax Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended February 28, 2023 and February 28, 2022 are approximately as follows:
2023 | 2022 |
$125,000 | $48,500 |
Tax Fees include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning.
During the fiscal years ended February 28, 2023 and February 28, 2022, there were no Tax Fees billed by the registrant’s principal accountant to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(d) All Other Fees. Aggregate All Other Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended February 28, 2023 and February 28, 2022 are approximately as follows:
2023 | 2022 |
$0 | $0 |
All Other Fees, if any, include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above.
Aggregate All Other Fees billed by the registrant’s principal accountant to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant during the fiscal years ended February 28, 2023 and February 28, 2022 are approximately as follows:
2023 | 2022 |
$541,000 | $535,000 |
In fiscal years 2023 and 2022, All Other Fees primarily consists of fees billed for internal control examinations of the registrant’s transfer agent and investment adviser.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant’s Audit Committee is required to pre-approve the engagement of the registrant’s independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the “Adviser”) or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a “Control Affiliate”) if the engagement relates directly to the operations and financial reporting of the registrant.
The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the “Policy”). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant’s independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant (“Fund Services”); (ii) non-audit services to the registrant’s Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund (“Fund-related Adviser Services”); and (iii) certain other audit and non-audit services to the registrant’s Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund’s independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC’s rules are met.
Under the Policy, the Audit Committee may delegate pre-approval authority to any pre-designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre-approval decisions to the Audit Committee at its next regular meeting. The Audit Committee's responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.
On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund’s Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre-approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre-approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.
The Fund’s Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre-approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.
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(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
(f) Not applicable.
(g) The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal years ended February 28, 2023 and February 28, 2022 are approximately as follows:
2023 | 2022 |
$666,000 | $620,000 |
(h) The registrant’s Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant’s adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant’s independence.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a) | The registrant’s “Schedule I – Investments in securities of unaffiliated issuers” (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive officer and principal financial officer, based on their evaluation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant’s management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. |
(b) | There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
(b) Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) attached hereto as Exhibit 99.906CERT.
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 |
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By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
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Date | April 21, 2023 |
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
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Date | April 21, 2023 |
By (Signature and Title) | /s/ Michael G. Clarke |
| Michael G. Clarke, Chief Financial Officer, |
| Principal Financial Officer and Senior Vice President |
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Date | April 21, 2023 |
By (Signature and Title) | /s/ Joseph Beranek |
| Joseph Beranek, Treasurer, Chief Accounting |
| Officer and Principal Financial Officer |
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Date | April 21, 2023 |