UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-09645
Columbia Funds Series Trust
(Exact name of registrant as specified in charter)
290 Congress Street
Boston, MA 02210
(Address of principal executive offices) (Zip code)
Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
Boston, MA 02210
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: April 30
Date of reporting period: October 31, 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.
October 31, 2023 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2023) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/02/93 | -0.76 | 1.92 | 0.49 | 0.48 |
Including sales charges | -1.74 | 0.90 | 0.30 | 0.38 | ||
Advisor Class | 03/19/13 | -0.63 | 2.18 | 0.77 | 0.75 | |
Class C | Excluding sales charges | 05/19/94 | -1.14 | 1.16 | -0.25 | -0.26 |
Including sales charges | -2.12 | 0.16 | -0.25 | -0.26 | ||
Institutional Class | 10/07/93 | -0.64 | 2.18 | 0.74 | 0.73 | |
Institutional 2 Class | 11/08/12 | -0.71 | 2.23 | 0.79 | 0.79 | |
Institutional 3 Class* | 03/01/17 | -0.69 | 2.28 | 0.84 | 0.79 | |
Bloomberg 1-5 Year Municipal Bond Index | -0.75 | 2.19 | 0.97 | 0.97 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2023) | |
AAA rating | 5.8 |
AA rating | 39.1 |
A rating | 37.8 |
BBB rating | 9.6 |
BB rating | 1.2 |
Not rated | 6.5 |
Total | 100.0 |
Top Ten States/Territories (%) (at October 31, 2023) | |
New York | 15.0 |
Illinois | 9.5 |
New Jersey | 7.7 |
Texas | 5.6 |
Massachusetts | 4.8 |
Pennsylvania | 3.7 |
California | 3.4 |
Wisconsin | 3.1 |
Florida | 3.0 |
Indiana | 2.9 |
4 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
(Unaudited)
May 1, 2023 — October 31, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 992.40 | 1,022.16 | 3.24 | 3.29 | 0.64 |
Advisor Class | 1,000.00 | 1,000.00 | 993.70 | 1,023.43 | 1.98 | 2.01 | 0.39 |
Class C | 1,000.00 | 1,000.00 | 988.60 | 1,018.35 | 7.02 | 7.13 | 1.39 |
Institutional Class | 1,000.00 | 1,000.00 | 993.60 | 1,023.43 | 1.98 | 2.01 | 0.39 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 992.90 | 1,023.68 | 1.72 | 1.75 | 0.34 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 993.10 | 1,023.94 | 1.47 | 1.49 | 0.29 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 5 |
October 31, 2023 (Unaudited)
Floating Rate Notes 2.5% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Minnesota 0.3% | ||||
City of Minneapolis(a),(b) | ||||
Revenue Bonds | ||||
Fairview Health Services | ||||
Series 2018 (Wells Fargo Bank NA) | ||||
11/15/2048 | 3.950% | 1,500,000 | 1,500,000 | |
New York 1.1% | ||||
New York City Transitional Finance Authority(a),(b) | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2018 (JPMorgan Chase Bank) | ||||
08/01/2042 | 3.950% | 2,000,000 | 2,000,000 | |
New York City Water & Sewer System(a),(b) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013DD-2 (JPMorgan Chase Bank) | ||||
06/15/2043 | 3.950% | 2,500,000 | 2,500,000 | |
Total | 4,500,000 | |||
Utah 1.1% | ||||
City of Murray(a),(b) | ||||
Revenue Bonds | ||||
IHC Health Services, Inc. | ||||
Series 2005A (JPMorgan Chase Bank) | ||||
05/15/2037 | 3.870% | 1,000,000 | 1,000,000 | |
Series 2005B (JPMorgan Chase Bank) | ||||
05/15/2037 | 3.870% | 3,425,000 | 3,425,000 | |
Total | 4,425,000 | |||
Total Floating Rate Notes (Cost $10,425,000) | 10,425,000 | |||
Municipal Bonds 94.4% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 2.1% | ||||
Black Belt Energy Gas District(c) | ||||
Prerefunded 11/30/23 Revenue Bonds | ||||
Series 2018B-1 | ||||
0.7 x 1-month Term SOFR + 0.900% 11/30/2048 | 4.585% | 1,000,000 | 999,984 | |
Black Belt Energy Gas District | ||||
Refunding Revenue Bonds | ||||
Series 2022D1 (Mandatory Put 06/01/27) | ||||
07/01/2052 | 4.000% | 3,000,000 | 2,893,195 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Project No. 4 | ||||
Series 2019A-1 (Mandatory Put 12/01/25) | ||||
12/01/2049 | 4.000% | 2,000,000 | 1,954,735 | |
Industrial Development Board of the City of Mobile | ||||
Senior Revenue Bonds | ||||
Alabama Power Co. - Barry Plant Project | ||||
Series 2020 (Mandatory Put 06/26/25) | ||||
06/01/2034 | 1.000% | 1,150,000 | 1,086,458 | |
Lower Alabama Gas District (The) | ||||
Revenue Bonds | ||||
Gas Project | ||||
Series 2020 (Mandatory Put 12/01/25) | ||||
12/01/2050 | 4.000% | 600,000 | 586,479 | |
Southeast Energy Authority A Cooperative District | ||||
Revenue Bonds | ||||
Project #2 | ||||
Series 2021B | ||||
06/01/2026 | 4.000% | 1,265,000 | 1,242,278 | |
Total | 8,763,129 | |||
Alaska 0.4% | ||||
Alaska Industrial Development & Export Authority | ||||
Refunding Revenue Bonds | ||||
Greater Fairbanks Community Hospital Foundation Project | ||||
Series 2019 | ||||
04/01/2024 | 5.000% | 1,800,000 | 1,806,109 | |
Arizona 2.5% | ||||
Chandler Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Intel Corp. | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
06/01/2049 | 5.000% | 1,450,000 | 1,449,452 | |
Intel Corp. Project | ||||
Series 2022-1 (Mandatory Put 09/01/27) | ||||
09/01/2042 | 5.000% | 5,000,000 | 5,035,363 | |
City of Phoenix Civic Improvement Corp.(d) | ||||
Revenue Bonds | ||||
Junior Lien - Airport | ||||
Series 2019B | ||||
07/01/2026 | 5.000% | 990,000 | 1,003,985 | |
Coconino County Pollution Control Corp. | ||||
Refunding Revenue Bonds | ||||
Nevada Power Co. | ||||
Series 2023 (Mandatory Put 03/31/26) | ||||
09/01/2032 | 4.125% | 500,000 | 490,266 |
6 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Maricopa County Industrial Development Authority(c) | ||||
Refunding Revenue Bonds | ||||
Banner Health Obligation | ||||
Series 2019 (Mandatory Put 10/18/24) | ||||
Muni Swap Index Yield + 0.570% 01/01/2035 | 4.660% | 1,325,000 | 1,322,027 | |
Maricopa County Pollution Control Corp. | ||||
Refunding Revenue Bonds | ||||
Palo Verde Project | ||||
Series 2021 (Mandatory Put 10/01/26) | ||||
06/01/2043 | 0.875% | 1,000,000 | 872,880 | |
Total | 10,173,973 | |||
California 3.1% | ||||
Anaheim Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Anaheim Public Improvement Projects | ||||
Series 2019 | ||||
09/01/2028 | 5.000% | 1,000,000 | 1,033,075 | |
Bay Area Toll Authority(c) | ||||
Revenue Bonds | ||||
San Francisco Bay Area Toll Bridge | ||||
Series 2012 (Mandatory Put 04/01/24) | ||||
Muni Swap Index Yield + 1.100% 04/01/2045 | 5.190% | 500,000 | 499,916 | |
California Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Henry Mayo Newhall Hospital | ||||
Series 2021 | ||||
10/15/2025 | 4.000% | 400,000 | 392,269 | |
10/15/2026 | 4.000% | 415,000 | 403,716 | |
California Public Finance Authority(e) | ||||
Revenue Bonds | ||||
Enso Village Project - TEMPS 50 | ||||
Series 2021 | ||||
11/15/2027 | 2.125% | 3,000,000 | 2,845,968 | |
City of Vernon Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
08/01/2026 | 5.000% | 600,000 | 599,152 | |
Corona-Norco Unified School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation | ||||
Series 2002D (AGM) | ||||
09/01/2027 | 0.000% | 2,000,000 | 1,699,838 | |
San Francisco City & County Airport Commission - San Francisco International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Second Series 2023A | ||||
05/01/2028 | 5.000% | 5,000,000 | 5,103,677 | |
Total | 12,577,611 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Colorado 2.6% | ||||
City & County of Denver Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
11/15/2030 | 5.000% | 1,925,000 | 1,951,583 | |
Revenue Bonds | ||||
Series 2022A | ||||
11/15/2028 | 5.000% | 5,000,000 | 5,118,254 | |
Colorado Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
CommonSpirit Health Services | ||||
Series 2019B (Mandatory Put 08/01/25) | ||||
08/01/2049 | 5.000% | 1,000,000 | 1,004,365 | |
Revenue Bonds | ||||
Aberdeen Ridge | ||||
Series 2021B | ||||
05/15/2028 | 2.125% | 1,750,000 | 1,571,135 | |
E-470 Public Highway Authority(c) | ||||
Refunding Revenue Bonds | ||||
Series 2021B (Mandatory Put 09/01/24) | ||||
0.7 x SOFR + 0.350% 09/01/2039 | 3.908% | 1,000,000 | 995,430 | |
Total | 10,640,767 | |||
Connecticut 1.2% | ||||
City of New Haven | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A (AGM) | ||||
08/01/2024 | 5.000% | 1,000,000 | 1,006,503 | |
Connecticut Housing Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Housing Mortgage Finance Program | ||||
Series 2021 | ||||
11/15/2023 | 0.400% | 300,000 | 299,633 | |
State of Connecticut | ||||
Unlimited General Obligation Bonds | ||||
Series 2022F | ||||
11/15/2026 | 5.000% | 3,000,000 | 3,106,703 | |
State of Connecticut Special Tax | ||||
Revenue Bonds | ||||
Series 2022A | ||||
07/01/2027 | 5.000% | 500,000 | 521,433 | |
Total | 4,934,272 | |||
District of Columbia 2.5% | ||||
District of Columbia | ||||
Revenue Bonds | ||||
Federal Highway Grant Anticipation | ||||
Series 2011 | ||||
12/01/2023 | 5.250% | 1,750,000 | 1,750,943 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 7 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
District of Columbia Housing Finance Agency | ||||
Revenue Bonds | ||||
Faircliff Plaza East Apartments Project | ||||
Series 2022 (FHA) (Mandatory Put 12/01/25) | ||||
12/01/2026 | 5.000% | 1,450,000 | 1,457,674 | |
Metropolitan Washington Airports Authority Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
10/01/2025 | 5.000% | 1,725,000 | 1,732,929 | |
Series 2018A | ||||
10/01/2027 | 5.000% | 2,385,000 | 2,430,830 | |
Series 2020A | ||||
10/01/2025 | 5.000% | 3,000,000 | 3,028,378 | |
Total | 10,400,754 | |||
Florida 3.0% | ||||
City of Jacksonville | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
10/01/2025 | 5.000% | 700,000 | 714,607 | |
City of Pompano Beach | ||||
Revenue Bonds | ||||
John Knox Village Project | ||||
Series 2021 | ||||
01/01/2027 | 1.450% | 2,000,000 | 1,768,718 | |
County of Lee Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
10/01/2028 | 5.000% | 2,035,000 | 2,074,705 | |
County of Miami-Dade Seaport Department(d) | ||||
Refunding Revenue Bonds | ||||
Series 2023A | ||||
10/01/2027 | 5.000% | 1,650,000 | 1,686,462 | |
Duval County Public Schools | ||||
Certificate of Participation | ||||
Series 2022 (AGM) | ||||
07/01/2026 | 5.000% | 2,125,000 | 2,184,598 | |
Greater Orlando Aviation Authority(d) | ||||
Revenue Bonds | ||||
Series 2019A | ||||
10/01/2025 | 5.000% | 2,000,000 | 2,021,112 | |
Miami-Dade County Housing Finance Authority | ||||
Revenue Bonds | ||||
Cutler Vista | ||||
Series 2023 (Mandatory Put 09/01/25) | ||||
02/28/2027 | 5.000% | 1,000,000 | 1,007,437 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
St. Johns County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Vicar’s Landing Project | ||||
Series 2021 | ||||
12/15/2024 | 4.000% | 145,000 | 142,096 | |
12/15/2025 | 4.000% | 180,000 | 173,200 | |
12/15/2026 | 4.000% | 185,000 | 174,755 | |
Village Community Development District No. 13 | ||||
Special Assessment Bonds | ||||
Series 2021 | ||||
05/01/2026 | 1.800% | 400,000 | 371,540 | |
Total | 12,319,230 | |||
Georgia 1.6% | ||||
City of Atlanta Department of Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021C | ||||
07/01/2025 | 5.000% | 1,000,000 | 1,011,843 | |
Development Authority of Burke County (The) | ||||
Refunding Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2022 (Mandatory Put 08/19/25) | ||||
12/01/2049 | 2.875% | 750,000 | 716,967 | |
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 03/12/24) | ||||
11/01/2048 | 2.925% | 1,250,000 | 1,237,315 | |
Georgia State Road & Tollway Authority(e),(f) | ||||
Revenue Bonds | ||||
I-75 S Express Lanes Project | ||||
Series 2014 Escrowed to Maturity | ||||
06/01/2024 | 0.000% | 305,000 | 298,018 | |
Main Street Natural Gas, Inc. | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/15/2024 | 5.000% | 1,250,000 | 1,248,720 | |
Series 2021C | ||||
12/01/2027 | 4.000% | 1,225,000 | 1,175,012 | |
Series 2023C (Mandatory Put 09/01/30) | ||||
09/01/2053 | 5.000% | 1,000,000 | 993,005 | |
Total | 6,680,880 | |||
Guam 0.6% | ||||
Guam Power Authority(g) | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
10/01/2025 | 5.000% | 2,375,000 | 2,387,945 |
8 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Illinois 9.5% | ||||
Chicago Board of Education | ||||
Refunding Unlimited General Obligation Bonds | ||||
Series 2017F | ||||
12/01/2024 | 5.000% | 1,000,000 | 1,000,301 | |
Chicago Midway International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Junior 2nd Lien | ||||
Series 2014A | ||||
01/01/2030 | 5.000% | 2,845,000 | 2,812,743 | |
Chicago Park District | ||||
Refunding Limited General Obligation Bonds | ||||
Limited Tax | ||||
Series 2014C | ||||
01/01/2026 | 5.000% | 1,865,000 | 1,858,796 | |
City of Chicago | ||||
Refunding Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
01/01/2024 | 5.000% | 2,090,000 | 2,090,129 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2020A | ||||
01/01/2024 | 5.000% | 340,000 | 340,021 | |
City of Chicago Wastewater Transmission | ||||
Refunding Revenue Bonds | ||||
Second Lien | ||||
Junior Subordinated Series 2015 | ||||
01/01/2024 | 5.000% | 1,400,000 | 1,401,459 | |
Series 2008 Escrowed to Maturity | ||||
01/01/2024 | 5.000% | 800,000 | 801,244 | |
City of Joliet Waterworks & Sewerage | ||||
Revenue Bonds | ||||
Senior Lien | ||||
BAN Series 2022 | ||||
01/01/2024 | 5.000% | 1,380,000 | 1,380,090 | |
Cook County Community College District No. 535 Oakton | ||||
Prerefunded 12/01/24 Limited General Obligation Bonds | ||||
Limited Tax | ||||
Series 2014 | ||||
12/01/2027 | 4.000% | 200,000 | 200,240 | |
Cook County School District No. 99 Cicero | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2019 | ||||
12/01/2023 | 5.000% | 575,000 | 575,308 | |
Illinois Development Finance Authority(f) | ||||
Revenue Bonds | ||||
Regency Park | ||||
Series 1991 Escrowed to Maturity | ||||
07/15/2025 | 0.000% | 2,010,000 | 1,875,110 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Illinois Finance Authority | ||||
Refunding Revenue Bonds | ||||
Lifespace Communities, Inc. | ||||
Series 2015 | ||||
05/15/2024 | 5.000% | 450,000 | 445,608 | |
Illinois Finance Authority(b) | ||||
Refunding Revenue Bonds | ||||
OSF Healthcare System | ||||
Series 2020 (Mandatory Put 11/15/24) | ||||
05/15/2050 | 5.000% | 4,250,000 | 4,251,646 | |
Illinois Finance Authority(c) | ||||
Refunding Revenue Bonds | ||||
Presbyterian Homes | ||||
Series 2021 (Mandatory Put 05/01/26) | ||||
Muni Swap Index Yield + 0.700% 05/01/2042 | 4.790% | 1,250,000 | 1,222,418 | |
Illinois Housing Development Authority | ||||
Revenue Bonds | ||||
Senior | ||||
Series 2016A | ||||
10/01/2031 | 3.125% | 915,000 | 907,502 | |
Series 2021C (FHA) | ||||
07/01/2026 | 0.800% | 1,000,000 | 905,277 | |
Northern Illinois University | ||||
Refunding Revenue Bonds | ||||
Northern University of Illinois | ||||
Series 2020B (BAM) | ||||
04/01/2025 | 5.000% | 400,000 | 403,041 | |
Revenue Bonds | ||||
Board of Trustees | ||||
Series 2021 (BAM) | ||||
10/01/2026 | 5.000% | 250,000 | 253,581 | |
Railsplitter Tobacco Settlement Authority | ||||
Revenue Bonds | ||||
Series 2017 Escrowed to Maturity | ||||
05/31/2024 | 5.000% | 3,000,000 | 3,015,080 | |
State of Illinois | ||||
Unlimited General Obligation Bonds | ||||
Senior | ||||
Series 2014 | ||||
05/01/2026 | 5.000% | 2,000,000 | 1,995,903 | |
Series 2020D | ||||
10/01/2024 | 5.000% | 2,000,000 | 2,010,923 | |
Series 2021A | ||||
03/01/2025 | 5.000% | 500,000 | 504,050 | |
03/01/2028 | 5.000% | 2,500,000 | 2,565,509 | |
Series 2023B | ||||
05/01/2028 | 5.000% | 300,000 | 308,131 | |
05/01/2032 | 5.000% | 3,500,000 | 3,613,695 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 9 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2022B | ||||
03/01/2025 | 5.000% | 2,400,000 | 2,419,438 | |
Total | 39,157,243 | |||
Indiana 2.7% | ||||
City of Whiting(d) | ||||
Refunding Revenue Bonds | ||||
BP Products North America | ||||
Series 2019 (Mandatory Put 06/05/26) | ||||
12/01/2044 | 5.000% | 1,000,000 | 998,033 | |
City of Whiting(b),(d) | ||||
Revenue Bonds | ||||
BP Products North America, Inc. Project | ||||
Series 2017 (Mandatory Put 11/01/24) | ||||
11/01/2047 | 5.000% | 5,000,000 | 4,991,352 | |
Indiana Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Fulcrum Centerpoint LLC Project | ||||
Series 2022 (Mandatory Put 11/15/23) | ||||
12/15/2046 | 4.500% | 4,000,000 | 3,999,098 | |
Indianapolis Local Public Improvement Bond Bank(d) | ||||
Refunding Revenue Bonds | ||||
Indianapolis Airport | ||||
Series 2019 | ||||
01/01/2026 | 5.000% | 1,050,000 | 1,059,978 | |
Total | 11,048,461 | |||
Iowa 0.1% | ||||
Iowa Student Loan Liquidity Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
12/01/2023 | 5.000% | 580,000 | 580,215 | |
Kentucky 2.5% | ||||
City of Henderson(d),(e) | ||||
Revenue Bonds | ||||
Pratt Paper LLC Project | ||||
Series 2022 | ||||
01/01/2032 | 3.700% | 1,000,000 | 923,181 | |
Kenton County School District Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
10/01/2025 | 3.000% | 1,995,000 | 1,935,609 | |
Kentucky Interlocal School Transportation Association | ||||
Refunding Certificate of Participation | ||||
Series 2021 | ||||
03/01/2025 | 1.250% | 1,335,000 | 1,253,694 | |
03/01/2026 | 1.250% | 1,085,000 | 980,546 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Kentucky Public Energy Authority | ||||
Revenue Bonds | ||||
Series 2018A (Mandatory Put 04/01/24) | ||||
04/01/2048 | 4.000% | 2,780,000 | 2,766,732 | |
Series 2020A (Mandatory Put 06/01/26) | ||||
12/01/2050 | 4.000% | 1,355,000 | 1,317,925 | |
Kentucky Public Energy Authority(c) | ||||
Revenue Bonds | ||||
Series 2019A-2 (Mandatory Put 06/01/25) | ||||
0.7 x 1-month Term SOFR + 1.120% 12/01/2049 | 4.805% | 1,000,000 | 997,285 | |
Total | 10,174,972 | |||
Louisiana 0.5% | ||||
Louisiana Local Government Environmental Facilities & Community Development Authority | ||||
Refunding Revenue Bonds | ||||
Entergy Louisiana LLC Project | ||||
Series 2021 | ||||
06/01/2030 | 2.000% | 1,250,000 | 1,031,428 | |
Louisiana Offshore Terminal Authority | ||||
Refunding Revenue Bonds | ||||
Loop LLC Project | ||||
Series 2019 (Mandatory Put 12/01/23) | ||||
09/01/2027 | 1.650% | 1,000,000 | 996,696 | |
Total | 2,028,124 | |||
Maryland 1.8% | ||||
Maryland Community Development Administration | ||||
Revenue Bonds | ||||
Series 2021B | ||||
03/01/2027 | 0.900% | 860,000 | 761,077 | |
Maryland Economic Development Corp.(d) | ||||
Revenue Bonds | ||||
Green Bonds - Purple Line Light Rail Project | ||||
Series 2022 | ||||
11/12/2028 | 5.000% | 2,000,000 | 1,985,979 | |
State of Maryland Department of Transportation | ||||
Refunding Revenue Bonds | ||||
Series 2022B | ||||
12/01/2027 | 5.000% | 1,205,000 | 1,266,593 | |
Revenue Bonds | ||||
2nd Issue | ||||
Series 2018 | ||||
10/01/2024 | 5.000% | 3,420,000 | 3,457,640 | |
Total | 7,471,289 | |||
Massachusetts 3.1% | ||||
Berkshire Regional Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2023 | ||||
07/25/2024 | 4.500% | 3,500,000 | 3,501,882 |
10 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Berklee College of Music | ||||
Series 2016 | ||||
10/01/2029 | 5.000% | 1,000,000 | 1,015,408 | |
Massachusetts Educational Financing Authority(d) | ||||
Revenue Bonds | ||||
Education Loan | ||||
Series 2014-I | ||||
01/01/2025 | 5.000% | 3,000,000 | 3,016,254 | |
Senior Series 2020B | ||||
07/01/2026 | 5.000% | 1,250,000 | 1,259,221 | |
Senior Series 2022B | ||||
07/01/2025 | 5.000% | 250,000 | 252,041 | |
07/01/2029 | 5.000% | 825,000 | 833,187 | |
Massachusetts Housing Finance Agency | ||||
Revenue Bonds | ||||
Sustainability Bonds | ||||
Series 2022-D3 (FHA) | ||||
12/01/2026 | 3.300% | 1,000,000 | 957,616 | |
Massachusetts Port Authority(d) | ||||
Refunding Revenue Bonds | ||||
BosFuel Project | ||||
Series 2019A | ||||
07/01/2026 | 5.000% | 1,000,000 | 1,012,621 | |
BOSFUEL Project | ||||
Series 2019A | ||||
07/01/2025 | 5.000% | 1,000,000 | 1,005,772 | |
Total | 12,854,002 | |||
Michigan 2.1% | ||||
Michigan Finance Authority | ||||
Refunding Revenue Bonds | ||||
McLaren Health Care | ||||
Series 2021D-1 | ||||
10/15/2026 | 0.900% | 2,495,000 | 2,266,915 | |
10/15/2027 | 1.100% | 1,650,000 | 1,467,941 | |
Michigan Finance Authority(h) | ||||
Refunding Revenue Bonds | ||||
Trinity Health | ||||
Series 2019 (Mandatory Put 02/01/25) | ||||
12/01/2044 | 5.000% | 1,605,000 | 1,624,438 | |
Michigan Strategic Fund(d) | ||||
Revenue Bonds | ||||
Consumers Energy Co. Project | ||||
Series 2021 (Mandatory Put 10/08/26) | ||||
04/01/2035 | 0.875% | 1,335,000 | 1,153,045 | |
Green Bonds | ||||
Series 2021 (Mandatory Put 10/01/26) | ||||
10/01/2061 | 4.000% | 2,000,000 | 1,937,901 | |
Total | 8,450,240 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Minnesota 1.0% | ||||
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2024 | 3.000% | 100,000 | 98,718 | |
08/01/2025 | 3.000% | 200,000 | 193,993 | |
08/01/2026 | 3.000% | 250,000 | 238,164 | |
Minnesota Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021C (GNMA) | ||||
01/01/2024 | 0.600% | 370,000 | 367,624 | |
Revenue Bonds | ||||
Series 2020A (GNMA) | ||||
07/01/2024 | 1.450% | 115,000 | 112,682 | |
Series 2020D (GNMA) | ||||
07/01/2026 | 1.650% | 360,000 | 331,869 | |
Series 2020H | ||||
01/01/2024 | 0.650% | 175,000 | 173,890 | |
07/01/2024 | 0.700% | 190,000 | 185,250 | |
01/01/2025 | 0.800% | 340,000 | 325,548 | |
07/01/2025 | 0.850% | 360,000 | 338,435 | |
Minnesota Rural Water Finance Authority, Inc. | ||||
Revenue Notes | ||||
Public Projects Construction | ||||
Series 2022 | ||||
12/01/2023 | 2.625% | 1,700,000 | 1,695,538 | |
Total | 4,061,711 | |||
Mississippi 0.7% | ||||
County of Warren(d) | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2020 (Mandatory Put 06/16/25) | ||||
08/01/2027 | 1.600% | 1,000,000 | 952,252 | |
Mississippi Business Finance Corp.(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
03/01/2027 | 2.200% | 1,250,000 | 1,231,483 | |
State of Mississippi Gaming Tax | ||||
Revenue Bonds | ||||
Series 2019A | ||||
10/15/2024 | 5.000% | 750,000 | 755,199 | |
Total | 2,938,934 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 11 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Missouri 1.0% | ||||
Kansas City Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Kansas City International Airport | ||||
Series 2019 | ||||
03/01/2028 | 5.000% | 3,810,000 | 3,873,267 | |
Missouri Development Finance Board | ||||
Refunding Revenue Bonds | ||||
Crackerneck Creek Project | ||||
Series 2021 | ||||
03/01/2026 | 5.000% | 300,000 | 298,891 | |
Total | 4,172,158 | |||
Nebraska 0.8% | ||||
Central Plains Energy Project | ||||
Revenue Bonds | ||||
Project No. 4 | ||||
Series 2018 (Mandatory Put 01/01/24) | ||||
03/01/2050 | 5.000% | 1,000,000 | 1,003,055 | |
Gretna Public Schools | ||||
Unlimited General Obligation Bonds | ||||
Series 2022B | ||||
12/15/2027 | 5.000% | 2,080,000 | 2,121,791 | |
Total | 3,124,846 | |||
New Hampshire 0.9% | ||||
New Hampshire Business Finance Authority | ||||
Refunding Revenue Bonds | ||||
Springpoint Senior Living | ||||
Series 2021 | ||||
01/01/2025 | 4.000% | 290,000 | 285,270 | |
01/01/2026 | 4.000% | 265,000 | 256,926 | |
New Hampshire Business Finance Authority(c),(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2018 (Mandatory Put 07/01/24) | ||||
Muni Swap Index Yield + 0.375% 10/01/2033 | 4.465% | 2,000,000 | 1,982,326 | |
New Hampshire Business Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 07/01/24) | ||||
07/01/2027 | 2.150% | 1,000,000 | 982,921 | |
Total | 3,507,443 | |||
New Jersey 7.7% | ||||
City of Newark | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2023B | ||||
09/27/2024 | 5.000% | 2,000,000 | 2,003,271 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Jersey Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
New Jersey-American Water Company, Inc. Project | ||||
Series 2020 | ||||
12/01/2025 | 0.850% | 2,750,000 | 2,457,387 | |
New Jersey Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015XX | ||||
06/15/2026 | 4.250% | 2,355,000 | 2,342,485 | |
New Jersey Health Care Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Hospital Asset Transformation Program | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 2,000,000 | 2,064,010 | |
Hospital Asset Transformation Project | ||||
Series 2017 | ||||
10/01/2026 | 5.000% | 650,000 | 664,477 | |
RWJ Barnabas Health Obligated Group | ||||
Series 2019 (Mandatory Put 07/01/25) | ||||
07/01/2042 | 5.000% | 3,370,000 | 3,416,407 | |
New Jersey Higher Education Student Assistance Authority(d) | ||||
Revenue Bonds | ||||
Series 2015-1A | ||||
12/01/2027 | 4.000% | 1,375,000 | 1,358,635 | |
Series 2017-1A | ||||
12/01/2024 | 5.000% | 3,750,000 | 3,764,586 | |
Series 2023B | ||||
12/01/2028 | 5.000% | 4,000,000 | 4,051,533 | |
Senior Revenue Bonds | ||||
Series 2022B | ||||
12/01/2024 | 5.000% | 885,000 | 887,795 | |
New Jersey Housing & Mortgage Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020F (HUD) | ||||
04/01/2026 | 1.500% | 3,000,000 | 2,780,684 | |
New Jersey Transportation Trust Fund Authority | ||||
Refunding Revenue Bonds | ||||
Series 2022AA | ||||
06/15/2027 | 5.000% | 3,185,000 | 3,287,925 | |
Transportation System | ||||
Series 2018A | ||||
12/15/2023 | 5.000% | 250,000 | 250,308 | |
Revenue Bonds | ||||
Transportation System | ||||
Series 2010D | ||||
12/15/2023 | 5.000% | 2,375,000 | 2,377,927 | |
Total | 31,707,430 |
12 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Mexico 0.5% | ||||
City of Farmington | ||||
Refunding Revenue Bonds | ||||
Public Service Co. of New Mexico San Juan Project | ||||
Series 2020 (Mandatory Put 06/01/24) | ||||
06/01/2040 | 1.150% | 2,000,000 | 1,953,038 | |
New York 13.9% | ||||
City of New York | ||||
Unlimited General Obligation Bonds | ||||
Series 2024A | ||||
08/01/2029 | 5.000% | 2,345,000 | 2,489,086 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2023C | ||||
08/01/2027 | 5.000% | 7,000,000 | 7,305,339 | |
Huntington Local Development Corp. | ||||
Revenue Bonds | ||||
Fountaingate Garden Project | ||||
Series 2021B | ||||
07/01/2027 | 4.000% | 1,635,000 | 1,528,756 | |
Long Island Power Authority | ||||
Refunding Revenue Bonds | ||||
Series 2023F | ||||
09/01/2029 | 5.000% | 3,000,000 | 3,209,051 | |
Metropolitan Transportation Authority(c) | ||||
Refunding Revenue Bonds | ||||
Transportation | ||||
Subordinated Series 2021 (AGM) (Mandatory Put 04/01/24) | ||||
0.7 x SOFR + 0.550% 11/01/2032 | 4.108% | 500,000 | 499,864 | |
Metropolitan Transportation Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Subordinated Series 2019A (Mandatory Put 11/15/24) | ||||
11/15/2048 | 5.000% | 1,000,000 | 996,854 | |
New York City Transitional Finance Authority | ||||
Revenue Bonds | ||||
Subordinated Series 2018A-2 | ||||
11/01/2027 | 5.000% | 3,235,000 | 3,384,703 | |
New York Liberty Development Corp. | ||||
Refunding Revenue Bonds | ||||
Green Bonds - 4 World Trade Center Project | ||||
Series 2021 | ||||
11/15/2031 | 1.900% | 950,000 | 748,895 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Series 2023A | ||||
03/15/2029 | 5.000% | 3,250,000 | 3,447,607 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York Transportation Development Corp.(d) | ||||
Refunding Revenue Bonds | ||||
American Airlines, Inc. Project | ||||
Series 2021 | ||||
08/01/2026 | 2.250% | 1,550,000 | 1,447,072 | |
Revenue Bonds | ||||
LaGuardia Airport Terminal B Redevelopment Project | ||||
Series 2016 | ||||
07/01/2030 | 5.000% | 1,255,000 | 1,238,945 | |
Port Authority of New York & New Jersey(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018-207 | ||||
09/15/2029 | 5.000% | 5,000,000 | 5,079,659 | |
Series 2021-223 | ||||
07/15/2026 | 5.000% | 4,130,000 | 4,181,074 | |
Revenue Bonds | ||||
Consolidated One Hundred Eighty Four | ||||
Series 2014-25A | ||||
09/01/2028 | 5.000% | 1,275,000 | 1,270,710 | |
State of New York Mortgage Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019-221 | ||||
04/01/2024 | 1.800% | 2,000,000 | 1,976,971 | |
Social Bonds | ||||
Series 2021-235 | ||||
04/01/2026 | 1.050% | 1,275,000 | 1,172,953 | |
10/01/2026 | 1.150% | 1,335,000 | 1,212,457 | |
04/01/2027 | 1.300% | 2,705,000 | 2,444,791 | |
Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-240 | ||||
10/01/2024 | 0.850% | 1,970,000 | 1,898,676 | |
04/01/2025 | 0.950% | 2,485,000 | 2,344,827 | |
10/01/2025 | 1.050% | 1,000,000 | 926,566 | |
04/01/2026 | 1.200% | 1,220,000 | 1,112,672 | |
Triborough Bridge & Tunnel Authority(c) | ||||
Refunding Revenue Bonds | ||||
MTA Bridges and Tunnels | ||||
Series 2021 (Mandatory Put 02/01/24) | ||||
0.7 x SOFR + 0.380% 01/01/2032 | 3.938% | 1,960,000 | 1,954,185 | |
Triborough Bridge & Tunnel Authority | ||||
Refunding Revenue Bonds | ||||
MTA Bridges and Tunnels | ||||
Series 2023 | ||||
11/15/2028 | 5.000% | 5,000,000 | 5,296,117 | |
Total | 57,167,830 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 13 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Carolina 1.3% | ||||
North Carolina Eastern Municipal Power Agency(i) | ||||
Revenue Bonds | ||||
Series 1993 (FGIC) | ||||
01/01/2025 | 3.100% | 600,000 | 586,823 | |
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Home Ownership | ||||
Series 2021-47 (GNMA) | ||||
01/01/2028 | 1.050% | 1,580,000 | 1,319,671 | |
North Carolina Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 | ||||
01/01/2025 | 5.000% | 1,500,000 | 1,514,743 | |
Series 2018 | ||||
01/01/2025 | 5.000% | 1,110,000 | 1,120,910 | |
North Carolina Turnpike Authority(f) | ||||
Refunding Revenue Bonds | ||||
Series 2016C | ||||
07/01/2026 | 0.000% | 780,000 | 680,843 | |
Total | 5,222,990 | |||
North Dakota 1.1% | ||||
North Dakota Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C | ||||
01/01/2024 | 0.700% | 1,800,000 | 1,789,636 | |
07/01/2024 | 0.800% | 1,685,000 | 1,647,276 | |
01/01/2025 | 0.950% | 975,000 | 938,064 | |
Total | 4,374,976 | |||
Ohio 1.9% | ||||
City of Columbus | ||||
Unlimited General Obligation Bonds | ||||
Series 2023A | ||||
08/15/2024 | 5.000% | 725,000 | 731,878 | |
Ohio Air Quality Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Duke Energy Corp. Project | ||||
Series 2022 (Mandatory Put 06/01/27) | ||||
11/01/2039 | 4.250% | 2,500,000 | 2,446,212 | |
Ohio Turnpike & Infrastructure Commission | ||||
Refunding Revenue Bonds | ||||
Junior Lien - Infrastructure Projects | ||||
Series 2022 | ||||
02/15/2026 | 5.000% | 1,250,000 | 1,278,338 | |
02/15/2027 | 5.000% | 1,000,000 | 1,032,890 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of Ohio | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2022A | ||||
06/15/2028 | 5.000% | 2,250,000 | 2,379,784 | |
Total | 7,869,102 | |||
Oklahoma 1.9% | ||||
Oklahoma County Independent School District No. 89 Oklahoma City | ||||
Unlimited General Obligation Bonds | ||||
Series 2023A | ||||
07/01/2027 | 3.000% | 6,000,000 | 5,725,453 | |
Tulsa Airports Improvement Trust(d) | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
Series 2015A (BAM) | ||||
06/01/2035 | 5.000% | 1,000,000 | 1,003,600 | |
06/01/2045 | 5.000% | 1,280,000 | 1,284,608 | |
Total | 8,013,661 | |||
Oregon 0.1% | ||||
State of Oregon Housing & Community Services Department(h) | ||||
Revenue Bonds | ||||
Plaza Los Amigos Apartments Project | ||||
Series 2022 (Mandatory Put 02/01/25) | ||||
02/01/2026 | 3.000% | 500,000 | 489,857 | |
Pennsylvania 3.2% | ||||
Geisinger Authority | ||||
Refunding Revenue Bonds | ||||
Geisinger Health System Obligated Group | ||||
Series 2020 (Mandatory Put 02/15/27) | ||||
04/01/2043 | 5.000% | 3,350,000 | 3,394,112 | |
Montgomery County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Meadowood Senior Living Project | ||||
Series 2018 | ||||
12/01/2023 | 5.000% | 320,000 | 320,060 | |
Pennsylvania Higher Education Assistance Agency(d) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
06/01/2027 | 5.000% | 1,315,000 | 1,325,160 | |
Pennsylvania Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-134B | ||||
10/01/2025 | 5.000% | 800,000 | 803,924 | |
Pennsylvania Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2019-129 | ||||
10/01/2034 | 2.950% | 1,500,000 | 1,261,554 | |
Series 2020-132A | ||||
04/01/2026 | 1.450% | 1,400,000 | 1,297,581 | |
10/01/2026 | 1.500% | 1,500,000 | 1,372,642 |
14 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pennsylvania Turnpike Commission | ||||
Refunding Revenue Bonds | ||||
Series 2022B | ||||
12/01/2026 | 5.000% | 275,000 | 284,531 | |
Redevelopment Authority of the City of Philadelphia(d) | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
04/15/2027 | 5.000% | 2,010,000 | 2,031,190 | |
Southeastern Pennsylvania Transportation Authority | ||||
Revenue Bonds | ||||
Asset Improvement Program | ||||
Series 2022 | ||||
06/01/2027 | 5.000% | 1,000,000 | 1,041,096 | |
Total | 13,131,850 | |||
Puerto Rico 0.6% | ||||
Commonwealth of Puerto Rico(g) | ||||
Unlimited General Obligation Bonds | ||||
Series 2021-A1 | ||||
07/01/2025 | 5.375% | 2,500,000 | 2,513,419 | |
Rhode Island 1.8% | ||||
Rhode Island Health and Educational Building Corp. | ||||
Refunding Revenue Bonds | ||||
Providence Public Buildings Authority | ||||
Series 2015 (AGM) | ||||
05/15/2024 | 4.000% | 2,385,000 | 2,380,987 | |
Rhode Island Housing & Mortgage Finance Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Homeownership Opportunity | ||||
Series 2016 | ||||
04/01/2026 | 2.600% | 1,235,000 | 1,180,769 | |
10/01/2026 | 2.650% | 1,575,000 | 1,496,268 | |
Rhode Island Student Loan Authority(d) | ||||
Revenue Bonds | ||||
Senior Program | ||||
Series 2019A | ||||
12/01/2023 | 5.000% | 650,000 | 650,214 | |
12/01/2024 | 5.000% | 875,000 | 879,595 | |
12/01/2035 | 2.875% | 630,000 | 612,586 | |
Total | 7,200,419 | |||
South Carolina 1.5% | ||||
Patriots Energy Group Financing Agency(c) | ||||
Revenue Bonds | ||||
Series 2018B (Mandatory Put 02/01/24) | ||||
0.7 x 1-month Term SOFR + 0.860% 10/01/2048 | 4.545% | 1,000,000 | 999,990 | |
South Carolina Jobs-Economic Development Authority(d) | ||||
Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2023 (Mandatory Put 04/01/26) | ||||
04/01/2033 | 4.000% | 850,000 | 836,732 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South Carolina Ports Authority(d) | ||||
Prerefunded 07/01/25 Revenue Bonds | ||||
Series 2015 | ||||
07/01/2050 | 5.250% | 3,000,000 | 3,036,857 | |
South Carolina State Housing Finance & Development Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
01/01/2024 | 1.500% | 980,000 | 974,802 | |
07/01/2024 | 1.550% | 510,000 | 499,562 | |
Total | 6,347,943 | |||
Texas 5.4% | ||||
Atascosa County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
San Miguel Electric Cooperative, Inc. Project | ||||
Series 2020 | ||||
12/15/2024 | 5.000% | 550,000 | 555,804 | |
12/15/2026 | 5.000% | 625,000 | 642,883 | |
City of Houston Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2023A (AGM) | ||||
07/01/2031 | 5.000% | 3,250,000 | 3,333,963 | |
County of Collin | ||||
Limited General Obligation Bonds | ||||
Series 2023 | ||||
02/15/2028 | 5.000% | 1,000,000 | 1,049,711 | |
County of Harris Toll Road | ||||
Refunding Revenue Bonds | ||||
Series 2023A | ||||
08/15/2028 | 5.000% | 500,000 | 526,769 | |
Dallas Fort Worth International Airport | ||||
Refunding Revenue Bonds | ||||
Series 2023B | ||||
11/01/2031 | 5.000% | 2,000,000 | 2,141,699 | |
Denton Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2023 | ||||
08/15/2029 | 5.000% | 1,750,000 | 1,865,570 | |
Harris County Cultural Education Facilities Finance Corp.(c) | ||||
Revenue Bonds | ||||
Natus Medical, Inc. | ||||
Series 2019 (Mandatory Put 12/04/24) | ||||
Muni Swap Index Yield + 0.570% 12/01/2049 | 4.660% | 2,000,000 | 2,000,660 | |
Matagorda County Navigation District No. 1 | ||||
Refunding Revenue Bonds | ||||
Central Power & Light | ||||
Series 2023 | ||||
05/01/2030 | 4.250% | 2,500,000 | 2,354,997 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 15 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Texas Tollway Authority(j) | ||||
Refunding Revenue Bonds | ||||
Series 2023A | ||||
01/01/2027 | 5.000% | 1,950,000 | 2,016,868 | |
Plano Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2023 | ||||
02/15/2028 | 5.000% | 1,750,000 | 1,835,579 | |
Port Beaumont Navigation District(d),(e) | ||||
Revenue Bonds | ||||
Jefferson Gulf Coast Energy Project | ||||
Series 2021 | ||||
01/01/2026 | 1.875% | 700,000 | 637,038 | |
Spring Branch Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2022 | ||||
02/01/2025 | 5.000% | 1,000,000 | 1,015,160 | |
Texas Home Collaborative | ||||
Revenue Bonds | ||||
1518 Apartments | ||||
Series 2023 (FHA) (Mandatory Put 10/01/26) | ||||
09/30/2041 | 5.000% | 1,725,000 | 1,744,777 | |
Texas Municipal Gas Acquisition & Supply Corp. III | ||||
Refunding Revenue Bonds | ||||
Senior | ||||
Series 2021 | ||||
12/15/2028 | 5.000% | 500,000 | 493,495 | |
Total | 22,214,973 | |||
Utah 0.2% | ||||
Intermountain Power Agency | ||||
Revenue Bonds | ||||
Series 2023A | ||||
07/01/2029 | 5.000% | 750,000 | 797,147 | |
Vermont 0.8% | ||||
Vermont Student Assistance Corp.(d) | ||||
Revenue Bonds | ||||
Student Loan | ||||
Senior Series 2018A | ||||
06/15/2025 | 5.000% | 1,010,000 | 1,014,113 | |
06/15/2026 | 5.000% | 1,375,000 | 1,387,580 | |
Series 2022A | ||||
06/15/2028 | 5.000% | 985,000 | 992,153 | |
Total | 3,393,846 | |||
Virginia 1.2% | ||||
Amelia County Industrial Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2021 | ||||
04/01/2027 | 1.450% | 1,750,000 | 1,550,123 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Henrico County Economic Development Authority(i) | ||||
Revenue Bonds | ||||
Registered Savrs | ||||
Series 1992 Escrowed to Maturity (AGM) | ||||
08/23/2027 | 7.459% | 700,000 | 700,000 | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
LifeSpire of Virginia | ||||
Series 2021 | ||||
12/01/2024 | 3.000% | 220,000 | 214,479 | |
12/01/2025 | 3.000% | 230,000 | 218,964 | |
12/01/2026 | 3.000% | 235,000 | 218,678 | |
Virginia Small Business Financing Authority(d),(j) | ||||
Revenue Bonds | ||||
Pure Salmon Virginia LLC Project | ||||
Series 2023 (Mandatory Put 11/15/24) | ||||
10/31/2052 | 5.000% | 2,000,000 | 1,999,680 | |
Total | 4,901,924 | |||
Washington 1.7% | ||||
Chelan County Public Utility District No. 1(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020C | ||||
07/01/2025 | 5.000% | 1,170,000 | 1,186,111 | |
City of Seattle | ||||
Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
12/01/2031 | 4.000% | 1,810,000 | 1,781,534 | |
Douglas County Public Utility District No. 1 Wells Hydroelectric Project(d) | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
09/01/2027 | 5.000% | 830,000 | 836,389 | |
Port of Seattle(d) | ||||
Refunding Revenue Bonds | ||||
Intermediate Lien | ||||
Series 2022 | ||||
08/01/2028 | 5.000% | 1,500,000 | 1,535,036 | |
Revenue Bonds | ||||
Series 2018A | ||||
05/01/2028 | 5.000% | 1,715,000 | 1,740,666 | |
Total | 7,079,736 | |||
West Virginia 0.2% | ||||
West Virginia Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Appalachian Power Co. Amos Project | ||||
Series 2019 (Mandatory Put 04/01/24) | ||||
03/01/2040 | 2.550% | 1,000,000 | 989,064 |
16 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Wisconsin 3.1% | ||||
City of Milwaukee | ||||
Unlimited General Obligation Refunding Bonds | ||||
Promissory Notes | ||||
Series 2020N-4 | ||||
04/01/2024 | 5.000% | 1,500,000 | 1,502,144 | |
Public Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2016 | ||||
05/01/2027 | 2.875% | 5,350,000 | 4,918,275 | |
State of Wisconsin | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2022-4 | ||||
05/01/2026 | 5.000% | 1,230,000 | 1,268,597 | |
Wisconsin Department of Transportation | ||||
Refunding Revenue Bonds | ||||
Series 2017-1 | ||||
07/01/2028 | 5.000% | 1,185,000 | 1,244,459 | |
Wisconsin Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Marshfield Clinic Health System, Inc. | ||||
Series 2020 (Mandatory Put 02/15/25) | ||||
02/15/2052 | 5.000% | 3,500,000 | 3,503,037 | |
Wisconsin Housing & Economic Development Authority | ||||
Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C (GNMA) | ||||
03/01/2025 | 0.700% | 425,000 | 396,660 | |
Total | 12,833,172 | |||
Total Municipal Bonds (Cost $406,251,568) | 388,456,685 | |||
Municipal Short Term 3.0% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
California 0.4% | ||||
California Municipal Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2021 (Mandatory Put 04/01/24) | ||||
06/30/2041 | 4.700% | 1,500,000 | 1,500,138 | |
Indiana 0.2% | ||||
Indiana Finance Authority(b),(d) | ||||
Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2012 (Mandatory Put 12/01/23) | ||||
11/30/2037 | 4.300% | 750,000 | 749,741 |
Municipal Short Term (continued) | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Massachusetts 1.7% | ||||
Brockton Area Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2023 | ||||
07/26/2024 | 4.390% | 2,500,000 | 2,500,992 | |
Merrimack Valley Regional Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2023 | ||||
06/21/2024 | 4.330% | 3,000,000 | 3,001,937 | |
Pioneer Valley Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2023 | ||||
07/12/2024 | 4.280% | 1,500,000 | 1,504,229 | |
Total | 7,007,158 | |||
Pennsylvania 0.5% | ||||
Pennsylvania Economic Development Financing Authority(d) | ||||
Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2022 (Mandatory Put 01/16/24) | ||||
04/01/2049 | 4.210% | 2,100,000 | 2,094,952 | |
Texas 0.2% | ||||
City of Dallas | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2023A | ||||
02/15/2024 | 3.900% | 825,000 | 827,510 | |
Total Municipal Short Term (Cost $12,214,821) | 12,179,499 |
Money Market Funds 0.5% | ||
Shares | Value ($) | |
BlackRock Liquidity Funds MuniCash, Institutional Shares, 3.823%(k) | 1,905,115 | 1,905,115 |
Total Money Market Funds (Cost $1,905,115) | 1,905,115 | |
Total Investments in Securities (Cost $430,796,504) | 412,966,299 | |
Other Assets & Liabilities, Net | (1,471,204) | |
Net Assets | $411,495,095 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 17 |
October 31, 2023 (Unaudited)
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2023. |
(c) | Variable rate security. The interest rate shown was the current rate as of October 31, 2023. |
(d) | Income from this security may be subject to alternative minimum tax. |
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2023, the total value of these securities amounted to $4,704,205, which represents 1.14% of total net assets. |
(f) | Zero coupon bond. |
(g) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At October 31, 2023, the total value of these securities amounted to $4,901,364, which represents 1.19% of total net assets. |
(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 October 31, 2023. |
(i) | Represents a variable rate security where the coupon adjusts periodically through an auction process. |
(j) | Represents a security purchased on a when-issued basis. |
(k) | The rate shown is the seven-day current annualized yield at October 31, 2023. |
AGM | Assured Guaranty Municipal Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
FGIC | Financial Guaranty Insurance Corporation |
FHA | Federal Housing Authority |
GNMA | Government National Mortgage Association |
HUD | U.S. Department of Housing and Urban Development |
RAN | Revenue Anticipation Note |
SOFR | Secured Overnight Financing Rate |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
18 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 10,425,000 | — | 10,425,000 |
Municipal Bonds | — | 388,456,685 | — | 388,456,685 |
Municipal Short Term | — | 12,179,499 | — | 12,179,499 |
Money Market Funds | 1,905,115 | — | — | 1,905,115 |
Total Investments in Securities | 1,905,115 | 411,061,184 | — | 412,966,299 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 19 |
October 31, 2023 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $430,796,504) | $412,966,299 |
Cash | 5,200 |
Receivable for: | |
Capital shares sold | 417,984 |
Dividends | 5,777 |
Interest | 4,828,124 |
Expense reimbursement due from Investment Manager | 2,095 |
Prepaid expenses | 8,774 |
Total assets | 418,234,253 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 4,017,470 |
Capital shares redeemed | 1,607,535 |
Distributions to shareholders | 881,731 |
Management services fees | 4,884 |
Distribution and/or service fees | 457 |
Transfer agent fees | 23,455 |
Trustees’ fees | 165,257 |
Compensation of chief compliance officer | 46 |
Other expenses | 38,323 |
Total liabilities | 6,739,158 |
Net assets applicable to outstanding capital stock | $411,495,095 |
Represented by | |
Paid in capital | 448,608,444 |
Total distributable earnings (loss) | (37,113,349) |
Total - representing net assets applicable to outstanding capital stock | $411,495,095 |
Class A | |
Net assets | $60,770,273 |
Shares outstanding | 6,171,914 |
Net asset value per share | $9.85 |
Maximum sales charge | 1.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.95 |
Advisor Class | |
Net assets | $43,121,904 |
Shares outstanding | 4,375,357 |
Net asset value per share | $9.86 |
Class C | |
Net assets | $1,416,720 |
Shares outstanding | 144,184 |
Net asset value per share | $9.83 |
Institutional Class | |
Net assets | $79,850,500 |
Shares outstanding | 8,108,764 |
Net asset value per share | $9.85 |
Institutional 2 Class | |
Net assets | $55,120,575 |
Shares outstanding | 5,601,250 |
Net asset value per share | $9.84 |
Institutional 3 Class | |
Net assets | $171,215,123 |
Shares outstanding | 17,396,431 |
Net asset value per share | $9.84 |
20 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
Six Months Ended October 31, 2023 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $57,193 |
Interest | 6,191,293 |
Total income | 6,248,486 |
Expenses: | |
Management services fees | 991,926 |
Distribution and/or service fees | |
Class A | 83,930 |
Class C | 8,922 |
Transfer agent fees | |
Class A | 32,521 |
Advisor Class | 23,197 |
Class C | 864 |
Institutional Class | 43,445 |
Institutional 2 Class | 12,777 |
Institutional 3 Class | 5,653 |
Trustees’ fees | 14,479 |
Custodian fees | 5,879 |
Printing and postage fees | 10,834 |
Registration fees | 55,343 |
Accounting services fees | 20,770 |
Legal fees | 9,003 |
Compensation of chief compliance officer | 46 |
Other | 10,056 |
Total expenses | 1,329,645 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (444,084) |
Fees waived by transfer agent | |
Institutional 3 Class | (5,653) |
Expense reduction | (40) |
Total net expenses | 879,868 |
Net investment income | 5,368,618 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (3,579,341) |
Net realized loss | (3,579,341) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (4,635,332) |
Net change in unrealized appreciation (depreciation) | (4,635,332) |
Net realized and unrealized loss | (8,214,673) |
Net decrease in net assets resulting from operations | $(2,846,055) |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 21 |
Six Months Ended October 31, 2023 (Unaudited) | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $5,368,618 | $10,896,166 |
Net realized loss | (3,579,341) | (9,757,479) |
Net change in unrealized appreciation (depreciation) | (4,635,332) | 10,999,980 |
Net increase (decrease) in net assets resulting from operations | (2,846,055) | 12,138,667 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (687,116) | (1,082,213) |
Advisor Class | (548,442) | (1,166,399) |
Class C | (11,569) | (15,490) |
Institutional Class | (1,028,257) | (1,802,650) |
Institutional 2 Class | (673,818) | (1,919,571) |
Institutional 3 Class | (2,354,867) | (5,127,128) |
Total distributions to shareholders | (5,304,069) | (11,113,451) |
Decrease in net assets from capital stock activity | (74,782,207) | (279,514,603) |
Total decrease in net assets | (82,932,331) | (278,489,387) |
Net assets at beginning of period | 494,427,426 | 772,916,813 |
Net assets at end of period | $411,495,095 | $494,427,426 |
22 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
Six Months Ended | Year Ended | |||
October 31, 2023 (Unaudited) | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 513,633 | 5,126,199 | 4,585,621 | 45,834,971 |
Distributions reinvested | 63,113 | 627,981 | 96,989 | 970,581 |
Shares redeemed | (1,479,010) | (14,759,091) | (5,500,323) | (55,086,454) |
Net decrease | (902,264) | (9,004,911) | (817,713) | (8,280,902) |
Advisor Class | ||||
Shares sold | 399,444 | 3,994,317 | 2,469,079 | 24,718,526 |
Distributions reinvested | 19,475 | 193,884 | 37,417 | 374,803 |
Shares redeemed | (1,334,443) | (13,340,744) | (4,874,214) | (48,813,606) |
Net decrease | (915,524) | (9,152,543) | (2,367,718) | (23,720,277) |
Class C | ||||
Shares sold | 18,644 | 184,539 | 176,278 | 1,758,839 |
Distributions reinvested | 1,165 | 11,567 | 1,550 | 15,472 |
Shares redeemed | (79,782) | (792,524) | (134,605) | (1,349,669) |
Net increase (decrease) | (59,973) | (596,418) | 43,223 | 424,642 |
Institutional Class | ||||
Shares sold | 666,503 | 6,656,175 | 8,779,942 | 88,100,889 |
Distributions reinvested | 89,776 | 893,634 | 158,885 | 1,590,760 |
Shares redeemed | (2,104,285) | (20,992,598) | (10,229,746) | (102,553,635) |
Net decrease | (1,348,006) | (13,442,789) | (1,290,919) | (12,861,986) |
Institutional 2 Class | ||||
Shares sold | 889,402 | 8,861,721 | 3,513,896 | 35,210,315 |
Distributions reinvested | 50,615 | 503,417 | 167,520 | 1,674,858 |
Shares redeemed | (1,570,013) | (15,669,850) | (10,211,677) | (102,561,819) |
Net decrease | (629,996) | (6,304,712) | (6,530,261) | (65,676,646) |
Institutional 3 Class | ||||
Shares sold | 318,204 | 3,164,022 | 1,365,780 | 13,631,656 |
Distributions reinvested | 6,544 | 65,081 | 13,572 | 135,824 |
Shares redeemed | (3,967,291) | (39,509,937) | (18,325,146) | (183,166,914) |
Net decrease | (3,642,543) | (36,280,834) | (16,945,794) | (169,399,434) |
Total net decrease | (7,498,306) | (74,782,207) | (27,909,182) | (279,514,603) |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 23 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $10.03 | 0.11 | (0.19) | (0.08) | (0.10) | (0.10) |
Year Ended 4/30/2023 | $10.01 | 0.14 | 0.03 | 0.17 | (0.15) | (0.15) |
Year Ended 4/30/2022 | $10.46 | 0.07 | (0.45) | (0.38) | (0.07) | (0.07) |
Year Ended 4/30/2021 | $10.26 | 0.11 | 0.20 | 0.31 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.35 | 0.15 | (0.08) | 0.07 | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.26 | 0.15 | 0.09 | 0.24 | (0.15) | (0.15) |
Advisor Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $10.04 | 0.12 | (0.18) | (0.06) | (0.12) | (0.12) |
Year Ended 4/30/2023 | $10.02 | 0.16 | 0.03 | 0.19 | (0.17) | (0.17) |
Year Ended 4/30/2022 | $10.48 | 0.10 | (0.47) | (0.37) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.27 | 0.13 | 0.21 | 0.34 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.36 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.27 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Class C | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $10.01 | 0.07 | (0.18) | (0.11) | (0.07) | (0.07) |
Year Ended 4/30/2023 | $9.99 | 0.07 | 0.02 | 0.09 | (0.07) | (0.07) |
Year Ended 4/30/2022 | $10.46 | (0.01) | (0.46) | (0.47) | (0.00)(e) | (0.00)(e) |
Year Ended 4/30/2021 | $10.25 | 0.03 | 0.21 | 0.24 | (0.03) | (0.03) |
Year Ended 4/30/2020 | $10.34 | 0.08 | (0.09) | (0.01) | (0.08) | (0.08) |
Year Ended 4/30/2019 | $10.25 | 0.07 | 0.10 | 0.17 | (0.08) | (0.08) |
Institutional Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $10.03 | 0.12 | (0.18) | (0.06) | (0.12) | (0.12) |
Year Ended 4/30/2023 | $10.01 | 0.16 | 0.03 | 0.19 | (0.17) | (0.17) |
Year Ended 4/30/2022 | $10.46 | 0.09 | (0.45) | (0.36) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.26 | 0.13 | 0.20 | 0.33 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Institutional 2 Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $10.03 | 0.12 | (0.19) | (0.07) | (0.12) | (0.12) |
Year Ended 4/30/2023 | $10.01 | 0.17 | 0.03 | 0.20 | (0.18) | (0.18) |
Year Ended 4/30/2022 | $10.46 | 0.09 | (0.44) | (0.35) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.25 | 0.14 | 0.21 | 0.35 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
24 | Columbia Short Duration Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.85 | (0.76%) | 0.83% | 0.64%(c) | 2.08% | 15% | $60,770 |
Year Ended 4/30/2023 | $10.03 | 1.67% | 0.83%(d) | 0.65%(c),(d) | 1.41% | 48% | $70,963 |
Year Ended 4/30/2022 | $10.01 | (3.68%) | 0.81% | 0.66%(c) | 0.63% | 69% | $79,026 |
Year Ended 4/30/2021 | $10.46 | 2.99% | 0.81% | 0.66%(c) | 1.02% | 46% | $72,327 |
Year Ended 4/30/2020 | $10.26 | 0.63% | 0.80%(d) | 0.66%(c),(d) | 1.48% | 58% | $61,987 |
Year Ended 4/30/2019 | $10.35 | 2.39% | 0.81% | 0.66%(c) | 1.44% | 55% | $68,355 |
Advisor Class | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.86 | (0.63%) | 0.58% | 0.39%(c) | 2.33% | 15% | $43,122 |
Year Ended 4/30/2023 | $10.04 | 1.92% | 0.58%(d) | 0.40%(c),(d) | 1.65% | 48% | $53,125 |
Year Ended 4/30/2022 | $10.02 | (3.53%) | 0.57% | 0.41%(c) | 0.93% | 69% | $76,764 |
Year Ended 4/30/2021 | $10.48 | 3.34% | 0.56% | 0.41%(c) | 1.26% | 46% | $1,899 |
Year Ended 4/30/2020 | $10.27 | 0.89% | 0.55%(d) | 0.41%(c),(d) | 1.72% | 58% | $1,701 |
Year Ended 4/30/2019 | $10.36 | 2.64% | 0.56% | 0.41%(c) | 1.74% | 55% | $2,027 |
Class C | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.83 | (1.14%) | 1.59% | 1.39%(c) | 1.32% | 15% | $1,417 |
Year Ended 4/30/2023 | $10.01 | 0.91% | 1.59%(d) | 1.40%(c),(d) | 0.70% | 48% | $2,044 |
Year Ended 4/30/2022 | $9.99 | (4.48%) | 1.56% | 1.41%(c) | (0.11%) | 69% | $1,608 |
Year Ended 4/30/2021 | $10.46 | 2.32% | 1.56% | 1.41%(c) | 0.30% | 46% | $1,775 |
Year Ended 4/30/2020 | $10.25 | (0.12%) | 1.55%(d) | 1.41%(c),(d) | 0.74% | 58% | $3,464 |
Year Ended 4/30/2019 | $10.34 | 1.62% | 1.55% | 1.41%(c) | 0.69% | 55% | $6,322 |
Institutional Class | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.85 | (0.64%) | 0.58% | 0.39%(c) | 2.33% | 15% | $79,851 |
Year Ended 4/30/2023 | $10.03 | 1.92% | 0.58%(d) | 0.40%(c),(d) | 1.64% | 48% | $94,875 |
Year Ended 4/30/2022 | $10.01 | (3.44%) | 0.56% | 0.41%(c) | 0.88% | 69% | $107,620 |
Year Ended 4/30/2021 | $10.46 | 3.25% | 0.56% | 0.41%(c) | 1.27% | 46% | $94,743 |
Year Ended 4/30/2020 | $10.26 | 0.89% | 0.55%(d) | 0.41%(c),(d) | 1.72% | 58% | $86,870 |
Year Ended 4/30/2019 | $10.35 | 2.64% | 0.56% | 0.41%(c) | 1.70% | 55% | $104,300 |
Institutional 2 Class | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.84 | (0.71%) | 0.53% | 0.34% | 2.38% | 15% | $55,121 |
Year Ended 4/30/2023 | $10.03 | 1.97% | 0.52%(d) | 0.35%(d) | 1.69% | 48% | $62,470 |
Year Ended 4/30/2022 | $10.01 | (3.40%) | 0.51% | 0.37% | 0.92% | 69% | $127,702 |
Year Ended 4/30/2021 | $10.46 | 3.39% | 0.53% | 0.37% | 1.31% | 46% | $86,120 |
Year Ended 4/30/2020 | $10.25 | 0.83% | 0.51%(d) | 0.37%(d) | 1.77% | 58% | $71,372 |
Year Ended 4/30/2019 | $10.35 | 2.69% | 0.51% | 0.36% | 1.76% | 55% | $27,329 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 25 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $10.03 | 0.12 | (0.19) | (0.07) | (0.12) | (0.12) |
Year Ended 4/30/2023 | $10.01 | 0.17 | 0.03 | 0.20 | (0.18) | (0.18) |
Year Ended 4/30/2022 | $10.46 | 0.10 | (0.45) | (0.35) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.25 | 0.14 | 0.21 | 0.35 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.35 | 0.19 | (0.10) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.25 | 0.18 | 0.11 | 0.29 | (0.19) | (0.19) |
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) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | Rounds to zero. |
26 | Columbia Short Duration Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.84 | (0.69%) | 0.49% | 0.29% | 2.42% | 15% | $171,215 |
Year Ended 4/30/2023 | $10.03 | 2.02% | 0.48%(d) | 0.30%(d) | 1.71% | 48% | $210,950 |
Year Ended 4/30/2022 | $10.01 | (3.36%) | 0.47% | 0.32% | 0.97% | 69% | $380,197 |
Year Ended 4/30/2021 | $10.46 | 3.44% | 0.48% | 0.32% | 1.37% | 46% | $448,774 |
Year Ended 4/30/2020 | $10.25 | 0.88% | 0.46%(d) | 0.32%(d) | 1.82% | 58% | $511,085 |
Year Ended 4/30/2019 | $10.35 | 2.84% | 0.46% | 0.32% | 1.78% | 55% | $670,432 |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 27 |
October 31, 2023 (Unaudited)
28 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 29 |
October 31, 2023 (Unaudited)
30 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.10 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.04 |
Institutional 3 Class | 0.00 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 1.00 | 0.50(a) | 17,006 |
Class C | — | 1.00(b) | 60 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 31 |
October 31, 2023 (Unaudited)
September 1, 2023 through August 31, 2024 | Prior to September 1, 2023 | |
Class A | 0.65% | 0.65% |
Advisor Class | 0.40 | 0.40 |
Class C | 1.40 | 1.40 |
Institutional Class | 0.40 | 0.40 |
Institutional 2 Class | 0.35 | 0.34 |
Institutional 3 Class | 0.30 | 0.29 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
430,797,000 | 87,000 | (17,918,000) | (17,831,000) |
32 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(8,542,874) | (7,100,125) | (15,642,999) |
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 33 |
October 31, 2023 (Unaudited)
34 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 35 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to one or more benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
36 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
(Unaudited)
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 | 37 |
(Unaudited)
Investment Manager’s profitability. The Board reviewed the fees charged to comparable institutional or other accounts/vehicles managed by the Investment Manager and discussed differences in how the products are managed and operated, thus explaining many of the differences in fees.
38 | Columbia Short Duration Municipal Bond Fund | Semiannual Report 2023 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
October 31, 2023 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended October 31, 2023) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/09/02 | -2.89 | 2.22 | 0.79 | 1.62 |
Including sales charges | -5.77 | -0.83 | 0.19 | 1.30 | ||
Advisor Class | 03/19/13 | -2.78 | 2.48 | 1.04 | 1.88 | |
Class C | Excluding sales charges | 09/11/02 | -3.26 | 1.46 | 0.04 | 0.86 |
Including sales charges | -4.22 | 0.46 | 0.04 | 0.86 | ||
Institutional Class | 08/19/02 | -2.67 | 2.58 | 1.06 | 1.88 | |
Institutional 2 Class | 11/08/12 | -2.78 | 2.49 | 1.08 | 1.93 | |
Institutional 3 Class* | 03/01/17 | -2.64 | 2.65 | 1.15 | 1.94 | |
Bloomberg California 3-15 Year Blend Municipal Bond Index | -3.57 | 2.39 | 1.15 | 1.93 | ||
Bloomberg 3-15 Year Blend Municipal Bond Index | -3.78 | 2.49 | 1.27 | 1.97 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 3 |
(Unaudited)
Quality breakdown (%) (at October 31, 2023) | |
AAA rating | 1.1 |
AA rating | 48.7 |
A rating | 27.7 |
BBB rating | 13.7 |
BB rating | 2.3 |
Not rated | 6.5 |
Total | 100.0 |
4 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
(Unaudited)
May 1, 2023 — October 31, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 971.10 | 1,021.70 | 3.66 | 3.75 | 0.73 |
Advisor Class | 1,000.00 | 1,000.00 | 972.20 | 1,022.97 | 2.41 | 2.47 | 0.48 |
Class C | 1,000.00 | 1,000.00 | 967.40 | 1,017.89 | 7.40 | 7.59 | 1.48 |
Institutional Class | 1,000.00 | 1,000.00 | 973.30 | 1,022.97 | 2.41 | 2.47 | 0.48 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 972.20 | 1,023.02 | 2.36 | 2.42 | 0.47 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 973.60 | 1,023.28 | 2.11 | 2.16 | 0.42 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 5 |
October 31, 2023 (Unaudited)
Floating Rate Notes 1.2% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 1.2% | ||||
City of Murray(a),(b) | ||||
Revenue Bonds | ||||
IHC Health Services, Inc. | ||||
Series 2005A (JPMorgan Chase Bank) | ||||
05/15/2037 | 3.870% | 1,420,000 | 1,420,000 | |
New York City Transitional Finance Authority(a),(b) | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2012C (JPMorgan Chase Bank) | ||||
11/01/2036 | 3.950% | 1,000,000 | 1,000,000 | |
New York City Water & Sewer System(a),(b) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013 (JPMorgan Chase Bank) | ||||
06/15/2050 | 3.950% | 1,125,000 | 1,125,000 | |
Total | 3,545,000 | |||
Total Floating Rate Notes (Cost $3,545,000) | 3,545,000 | |||
Municipal Bonds 99.5% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 12.7% | ||||
City of Los Angeles Department of Airports(c) | ||||
Refunding Revenue Bonds | ||||
Series 2018B | ||||
05/15/2028 | 5.000% | 2,000,000 | 2,054,260 | |
Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2019 | ||||
05/15/2038 | 5.000% | 3,500,000 | 3,468,570 | |
City of Los Angeles Department of Airports | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2015C | ||||
05/15/2029 | 5.000% | 2,410,000 | 2,451,166 | |
Subordinated Series 2019 | ||||
05/15/2035 | 5.000% | 1,485,000 | 1,574,482 | |
05/15/2037 | 5.000% | 840,000 | 878,939 | |
Revenue Bonds | ||||
Subordinated Series 2017B | ||||
05/15/2029 | 5.000% | 330,000 | 345,730 | |
05/15/2030 | 5.000% | 500,000 | 523,583 | |
County of Sacramento Airport System(c) | ||||
Refunding Revenue Bonds | ||||
Series 2018C | ||||
07/01/2028 | 5.000% | 3,090,000 | 3,154,160 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Sacramento Airport System | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016B | ||||
07/01/2036 | 5.000% | 1,750,000 | 1,781,676 | |
Subordinated Series 2018E | ||||
07/01/2029 | 5.000% | 1,035,000 | 1,089,540 | |
07/01/2034 | 5.000% | 1,000,000 | 1,045,109 | |
San Diego County Regional Airport Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017A | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,035,886 | |
07/01/2034 | 5.000% | 700,000 | 724,306 | |
San Diego County Regional Airport Authority(c) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019B | ||||
07/01/2036 | 5.000% | 1,540,000 | 1,542,034 | |
Subordinated Series 2020 | ||||
07/01/2036 | 5.000% | 495,000 | 497,150 | |
07/01/2039 | 5.000% | 400,000 | 393,682 | |
Revenue Bonds | ||||
Subordinated Series 2021B | ||||
07/01/2039 | 4.000% | 250,000 | 218,172 | |
San Francisco City & County Airport Commission - San Francisco International Airport | ||||
Refunding Revenue Bonds | ||||
2nd Series 2016A | ||||
05/01/2026 | 5.000% | 1,975,000 | 2,039,834 | |
San Francisco Airport Commission Project | ||||
Series 2019 | ||||
05/01/2036 | 5.000% | 3,205,000 | 3,360,627 | |
San Francisco City & County Airport Commission - San Francisco International Airport(c) | ||||
Revenue Bonds | ||||
Series 2019E | ||||
05/01/2037 | 5.000% | 4,450,000 | 4,464,683 | |
San Francisco City & County Airport Commission-San Francisco International Airport(c),(d) | ||||
Refunding Revenue Bonds | ||||
Second Series 2023C | ||||
05/01/2037 | 5.500% | 1,750,000 | 1,834,005 | |
San Francisco City & County Airport Commission-San Francisco International Airport(c) | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/01/2038 | 5.000% | 1,470,000 | 1,456,852 | |
Total | 35,934,446 |
6 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Charter Schools 5.0% | ||||
California Infrastructure & Economic Development Bank | ||||
Revenue Bonds | ||||
Equitable School Revolving Fund | ||||
Series 2019 | ||||
11/01/2039 | 5.000% | 275,000 | 271,795 | |
California School Finance Authority(e) | ||||
Refunding Revenue Bonds | ||||
Aspire Public Schools | ||||
Series 2016 | ||||
08/01/2029 | 5.000% | 1,000,000 | 1,004,259 | |
08/01/2030 | 5.000% | 1,380,000 | 1,384,954 | |
08/01/2031 | 5.000% | 850,000 | 852,529 | |
Revenue Bonds | ||||
Alliance College-Ready Public Schools | ||||
Series 2015 | ||||
07/01/2030 | 5.000% | 3,400,000 | 3,403,608 | |
Aspire Public Schools Obligation Group | ||||
Series 2021 | ||||
08/01/2036 | 4.000% | 325,000 | 287,740 | |
Green Dot Public School Project | ||||
Series 2015A | ||||
08/01/2035 | 5.000% | 1,010,000 | 1,008,911 | |
Series 2018 | ||||
08/01/2038 | 5.000% | 1,000,000 | 946,179 | |
KIPP Los Angeles Projects | ||||
Series 2015A | ||||
07/01/2035 | 5.000% | 1,250,000 | 1,255,774 | |
Series 2017 | ||||
07/01/2037 | 5.000% | 3,090,000 | 3,061,423 | |
California School Finance Authority | ||||
Revenue Bonds | ||||
KIPP Los Angeles Projects | ||||
Series 2014A | ||||
07/01/2034 | 5.000% | 600,000 | 601,628 | |
Total | 14,078,800 | |||
Disposal 0.3% | ||||
California Municipal Finance Authority(c) | ||||
Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2023 (Mandatory Put 09/01/33) | ||||
08/31/2053 | 4.375% | 750,000 | 710,547 | |
Higher Education 7.0% | ||||
California Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Loma Linda University | ||||
Series 2017A | ||||
04/01/2034 | 5.000% | 1,485,000 | 1,512,927 | |
04/01/2035 | 5.000% | 2,000,000 | 2,035,532 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018-A | ||||
12/01/2036 | 5.000% | 1,000,000 | 996,888 | |
Revenue Bonds | ||||
Chapman University | ||||
Series 2015 | ||||
04/01/2026 | 5.000% | 1,000,000 | 1,015,779 | |
Green Bonds - Loyola Marymount University | ||||
Series 2018 | ||||
10/01/2036 | 5.000% | 760,000 | 772,924 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Azusa Pacific University | ||||
Series 2015B | ||||
04/01/2025 | 5.000% | 395,000 | 392,382 | |
04/01/2026 | 5.000% | 1,000,000 | 991,902 | |
Biola University | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 540,000 | 546,340 | |
10/01/2032 | 5.000% | 615,000 | 621,727 | |
10/01/2033 | 5.000% | 625,000 | 631,391 | |
10/01/2034 | 5.000% | 570,000 | 575,579 | |
California Lutheran University | ||||
Series 2018 | ||||
10/01/2035 | 5.000% | 225,000 | 225,612 | |
10/01/2036 | 5.000% | 250,000 | 248,149 | |
Revenue Bonds | ||||
National University | ||||
Series 2019A | ||||
04/01/2035 | 5.000% | 1,780,000 | 1,807,550 | |
04/01/2036 | 5.000% | 1,120,000 | 1,131,333 | |
California Municipal Finance Authority(e) | ||||
Revenue Bonds | ||||
California Baptist University | ||||
Series 2016A | ||||
11/01/2026 | 4.000% | 1,000,000 | 960,131 | |
California State University | ||||
Revenue Bonds | ||||
Series 2023A | ||||
11/01/2041 | 5.000% | 1,000,000 | 1,058,308 | |
California Statewide Communities Development Authority(e) | ||||
Refunding Revenue Bonds | ||||
California Baptist University | ||||
Series 2017A | ||||
11/01/2032 | 5.000% | 1,135,000 | 1,109,294 | |
Revenue Bonds | ||||
California Baptist University | ||||
Series 2014A | ||||
11/01/2023 | 5.125% | 255,000 | 255,001 | |
Lancer Plaza Project | ||||
Series 2013 | ||||
11/01/2023 | 5.125% | 145,000 | 145,001 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 7 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
University of California | ||||
Refunding Revenue Bonds | ||||
Series 2023BN | ||||
05/15/2039 | 5.000% | 2,500,000 | 2,678,631 | |
Total | 19,712,381 | |||
Hospital 7.7% | ||||
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Cedars Sinai Medical Center | ||||
Series 2015 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,023,457 | |
El Camino Hospital | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,500,000 | 1,519,126 | |
Sutter Health | ||||
Series 2017A | ||||
11/15/2033 | 5.000% | 1,000,000 | 1,033,020 | |
Revenue Bonds | ||||
El Camino Hospital | ||||
Series 2017 | ||||
02/01/2033 | 5.000% | 2,500,000 | 2,550,250 | |
02/01/2034 | 5.000% | 500,000 | 509,187 | |
Kaiser Permanente | ||||
Subordinated Series 2017A-1-G | ||||
11/01/2027 | 5.000% | 1,875,000 | 1,986,766 | |
Lucile Salter Packard Children’s Hospital | ||||
Series 2014 | ||||
08/15/2028 | 5.000% | 300,000 | 301,787 | |
Series 2017 | ||||
11/15/2034 | 5.000% | 250,000 | 257,160 | |
11/15/2035 | 5.000% | 270,000 | 276,821 | |
Providence Health & Services | ||||
Series 2014A | ||||
10/01/2030 | 5.000% | 1,500,000 | 1,511,042 | |
Sutter Health | ||||
Series 2018A | ||||
11/15/2034 | 5.000% | 1,000,000 | 1,032,009 | |
California Statewide Communities Development Authority | ||||
Revenue Bonds | ||||
Green - Marin General Hospital Project | ||||
Series 2018 | ||||
08/01/2033 | 5.000% | 425,000 | 427,909 | |
08/01/2034 | 5.000% | 650,000 | 655,031 | |
Loma Linda University Medical Center | ||||
Series 2014 | ||||
12/01/2034 | 5.250% | 3,000,000 | 2,986,632 | |
Methodist Hospital of Southern California | ||||
Series 2018 | ||||
01/01/2036 | 5.000% | 3,000,000 | 2,986,842 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Statewide Communities Development Authority(f) | ||||
Revenue Bonds | ||||
Kaiser Permanente | ||||
Series 2019 (Mandatory Put 11/01/29) | ||||
04/01/2036 | 5.000% | 1,410,000 | 1,491,820 | |
City of Upland | ||||
Refunding Certificate of Participation | ||||
San Antonio Regional Hospital | ||||
Series 2017 | ||||
01/01/2034 | 5.000% | 500,000 | 506,936 | |
01/01/2036 | 4.000% | 1,000,000 | 867,432 | |
Total | 21,923,227 | |||
Human Service Provider 0.4% | ||||
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Harbor Regional Center Project | ||||
Series 2015 | ||||
11/01/2032 | 5.000% | 1,120,000 | 1,144,967 | |
Joint Power Authority 0.5% | ||||
Northern California Transmission Agency | ||||
Refunding Revenue Bonds | ||||
California-Oregon Project | ||||
Series 2016 | ||||
05/01/2032 | 5.000% | 1,500,000 | 1,541,818 | |
Local Appropriation 2.3% | ||||
Anaheim Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Anaheim Public Improvement Projects | ||||
Series 2019 BAM | ||||
09/01/2031 | 5.000% | 1,470,000 | 1,529,797 | |
Fresno Joint Powers Financing Authority | ||||
Refunding Revenue Bonds | ||||
Master Lease Project | ||||
Series 2017A (AGM) | ||||
04/01/2033 | 5.000% | 1,000,000 | 1,039,774 | |
Los Angeles County Public Works Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds - LACMA Building for the Permanent Collection Project | ||||
Series 2020A | ||||
12/01/2037 | 4.000% | 2,415,000 | 2,280,312 | |
San Rafael Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Public Safety Facilities Project | ||||
Series 2018 | ||||
06/01/2033 | 5.000% | 850,000 | 900,046 | |
06/01/2034 | 5.000% | 775,000 | 822,341 | |
Total | 6,572,270 |
8 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local General Obligation 8.3% | ||||
Bellevue Union School District(g) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2008 | ||||
Series 2011A (AGM) | ||||
08/01/2030 | 0.000% | 585,000 | 436,756 | |
08/01/2031 | 0.000% | 615,000 | 437,800 | |
City of San Jose | ||||
Unlimited General Obligation Bonds | ||||
Series 2021A | ||||
09/01/2040 | 5.000% | 1,000,000 | 1,048,535 | |
Compton Unified School District(g) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2002 | ||||
Series 2006C (AMBAC) | ||||
06/01/2024 | 0.000% | 1,925,000 | 1,878,233 | |
Conejo Valley Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2018B | ||||
08/01/2032 | 4.000% | 2,000,000 | 1,993,775 | |
Corona-Norco Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2014 | ||||
Series 2018B | ||||
08/01/2034 | 4.000% | 500,000 | 489,299 | |
Encinitas Union School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2010 | ||||
Series 2011 | ||||
08/01/2035 | 6.750% | 500,000 | 605,485 | |
Long Beach Unified School District(g) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015D-1 | ||||
08/01/2031 | 0.000% | 1,375,000 | 967,760 | |
Los Angeles Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2008 | ||||
Series 2018B-1 | ||||
07/01/2032 | 5.000% | 4,000,000 | 4,184,217 | |
Monterey Peninsula Community College District(g) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
08/01/2028 | 0.000% | 2,125,000 | 1,742,255 | |
Napa Valley Community College District(f) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2018 | ||||
08/01/2034 | 4.000% | 1,595,000 | 1,573,046 | |
Oakland Unified School District/Alameda County | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
08/01/2025 | 5.000% | 650,000 | 663,029 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pomona Unified School District(g) | ||||
Unlimited General Obligation Bonds | ||||
Election of 2008 | ||||
Series 2016G (AGM) | ||||
08/01/2032 | 0.000% | 1,000,000 | 675,219 | |
Rancho Santiago Community College District(g) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2002 | ||||
Series 2006C (AGM) | ||||
09/01/2031 | 0.000% | 3,785,000 | 2,693,933 | |
Rescue Union School District(g) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 1998 | ||||
Series 2005 (NPFGC) | ||||
09/01/2026 | 0.000% | 1,100,000 | 977,293 | |
Santa Monica Community College District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2016 | ||||
Series 2018A | ||||
08/01/2034 | 4.000% | 500,000 | 500,200 | |
Sierra Kings Health Care District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
08/01/2028 | 5.000% | 1,000,000 | 1,002,124 | |
08/01/2032 | 5.000% | 1,500,000 | 1,502,137 | |
Total | 23,371,096 | |||
Multi-Family 1.4% | ||||
California Housing Finance | ||||
Revenue Bonds | ||||
Series 2019-2 Class A | ||||
03/20/2033 | 4.000% | 1,125,488 | 1,060,573 | |
California Municipal Finance Authority | ||||
Revenue Bonds | ||||
Bowles Hall Foundation | ||||
Series 2015A | ||||
06/01/2035 | 5.000% | 400,000 | 390,709 | |
Caritas Affordable Housing | ||||
Series 2014 | ||||
08/15/2030 | 5.000% | 1,000,000 | 1,005,681 | |
California Statewide Communities Development Authority | ||||
Revenue Bonds | ||||
Lancer Educational Student Housing Project | ||||
Series 2019 | ||||
06/01/2034 | 5.000% | 375,000 | 351,223 | |
Series 2017 | ||||
05/15/2032 | 5.000% | 1,000,000 | 1,004,801 | |
Total | 3,812,987 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 9 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Municipal Power 7.6% | ||||
City of Redding Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
06/01/2029 | 5.000% | 1,250,000 | 1,298,558 | |
City of Riverside Electric | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2037 | 5.000% | 1,000,000 | 1,045,820 | |
City of Vernon Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
08/01/2039 | 5.000% | 425,000 | 415,123 | |
Los Angeles Department of Water & Power | ||||
Refunding Revenue Bonds | ||||
Power System | ||||
Series 2017B | ||||
07/01/2029 | 5.000% | 3,580,000 | 3,722,298 | |
Revenue Bonds | ||||
Series 2023B | ||||
07/01/2040 | 5.000% | 2,000,000 | 2,113,836 | |
Los Angeles Department of Water & Power(d) | ||||
Refunding Revenue Bonds | ||||
Series 2023D | ||||
07/01/2041 | 5.000% | 6,000,000 | 6,325,487 | |
Los Angeles Department of Water & Power System | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2035 | 5.000% | 1,750,000 | 1,833,925 | |
Redding Joint Powers Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
06/01/2031 | 5.000% | 1,045,000 | 1,068,395 | |
Sacramento Municipal Utility District | ||||
Revenue Bonds | ||||
Electric | ||||
Series 2020H | ||||
08/15/2033 | 5.000% | 1,000,000 | 1,090,353 | |
Green Bonds | ||||
Series 2023K | ||||
08/15/2040 | 5.000% | 500,000 | 529,610 | |
08/15/2041 | 5.000% | 400,000 | 421,918 | |
Turlock Irrigation District | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
01/01/2038 | 5.000% | 1,650,000 | 1,722,284 | |
Total | 21,587,607 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Other Bond Issue 1.0% | ||||
California Infrastructure & Economic Development Bank | ||||
Refunding Revenue Bonds | ||||
Salvation Army Western Territory (The) | ||||
Series 2016 | ||||
09/01/2033 | 4.000% | 400,000 | 386,377 | |
09/01/2034 | 4.000% | 600,000 | 575,674 | |
Walt Disney Family Museum | ||||
Series 2016 | ||||
02/01/2032 | 4.000% | 350,000 | 346,263 | |
02/01/2033 | 4.000% | 500,000 | 491,900 | |
City of Long Beach Marina System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/15/2028 | 5.000% | 635,000 | 636,527 | |
County of San Diego | ||||
Refunding Revenue Bonds | ||||
Sanford Burnham Prebys Medical Discovery Group | ||||
Series 2015 | ||||
11/01/2025 | 5.000% | 350,000 | 357,499 | |
Total | 2,794,240 | |||
Ports 0.3% | ||||
City of Long Beach Harbor | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/15/2036 | 5.000% | 700,000 | 740,719 | |
Prepaid Gas 1.9% | ||||
California Community Choice Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds - Clean Energy Project | ||||
Series 2023 (Mandatory Put 08/01/29) | ||||
12/01/2053 | 5.000% | 1,000,000 | 993,451 | |
M-S-R Energy Authority | ||||
Revenue Bonds | ||||
Series 2009B | ||||
11/01/2029 | 6.125% | 1,780,000 | 1,843,749 | |
Series 2009C | ||||
11/01/2039 | 6.500% | 2,350,000 | 2,644,165 | |
Total | 5,481,365 | |||
Recreation 0.6% | ||||
Del Mar Race Track Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
10/01/2025 | 5.000% | 1,665,000 | 1,647,320 |
10 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Refunded / Escrowed 9.0% | ||||
California Educational Facilities Authority | ||||
Revenue Bonds | ||||
University of Southern California | ||||
Series 2009C Escrowed to Maturity | ||||
10/01/2024 | 5.250% | 3,000,000 | 3,044,556 | |
California Municipal Finance Authority | ||||
Prerefunded 02/01/25 Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,200,000 | 1,218,339 | |
Refunding Revenue Bonds | ||||
Retirement Housing Foundation | ||||
Series 2017 Escrowed to Maturity | ||||
11/15/2029 | 5.000% | 390,000 | 419,703 | |
11/15/2030 | 5.000% | 600,000 | 651,787 | |
11/15/2032 | 5.000% | 850,000 | 940,406 | |
California School Finance Authority(e) | ||||
Revenue Bonds | ||||
River Springs Charter School Project | ||||
Series 2015 Escrowed to Maturity | ||||
07/01/2025 | 5.250% | 605,000 | 612,598 | |
California Statewide Communities Development Authority | ||||
Prerefunded 02/15/26 Revenue Bonds | ||||
Enloe Medical Center | ||||
Series 2015 | ||||
08/15/2030 | 5.000% | 1,990,000 | 2,052,981 | |
Prerefunded 07/01/24 Revenue Bonds | ||||
Huntington Memorial Hospital | ||||
Series 2014B | ||||
07/01/2033 | 5.000% | 2,300,000 | 2,321,514 | |
Prerefunded 10/01/24 Revenue Bonds | ||||
Henry Mayo Newhall Memorial Hospital | ||||
Series 2014A (AGM) | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,012,986 | |
Prerefunded 11/15/23 Revenue Bonds | ||||
Insured Redwoods Project | ||||
Series 2013 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,000,467 | |
City of Los Angeles Department of Airports | ||||
Prerefunded 05/15/29 Refunding Revenue Bonds | ||||
Subordinated Series 2019 | ||||
05/15/2035 | 5.000% | 2,490,000 | 2,680,088 | |
05/15/2037 | 5.000% | 1,410,000 | 1,517,640 | |
Golden State Tobacco Securitization Corp. | ||||
Prerefunded 06/01/25 Asset-Backed Revenue Bonds | ||||
Series 2015A | ||||
06/01/2033 | 5.000% | 4,000,000 | 4,080,653 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Refunding Revenue Bonds | ||||
Series 2017A-1 Escrowed to Maturity | ||||
06/01/2024 | 5.000% | 4,000,000 | 4,028,122 | |
Total | 25,581,840 | |||
Retirement Communities 3.2% | ||||
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Northern California Presbyterian Homes | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 310,000 | 316,144 | |
07/01/2029 | 5.000% | 300,000 | 305,656 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
HumanGood Obligation Group | ||||
Series 2019A | ||||
10/01/2034 | 4.000% | 500,000 | 466,228 | |
10/01/2035 | 4.000% | 1,000,000 | 919,812 | |
California Public Finance Authority(e) | ||||
Revenue Bonds | ||||
Enso Village Project - Green Bonds - TEMPS 70 | ||||
Series 2021 | ||||
11/15/2028 | 2.375% | 2,000,000 | 1,874,846 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
American Baptist Homes West | ||||
Series 2015 | ||||
10/01/2024 | 5.000% | 2,575,000 | 2,578,989 | |
10/01/2026 | 5.000% | 1,000,000 | 1,003,957 | |
Front Porch Communities & Services | ||||
Series 2017 | ||||
04/01/2030 | 5.000% | 150,000 | 151,364 | |
Series 2021 | ||||
04/01/2039 | 4.000% | 750,000 | 646,191 | |
Revenue Bonds | ||||
Viamonte Senior Living 1, Inc. | ||||
Series 2018 | ||||
07/01/2035 | 4.000% | 300,000 | 294,295 | |
07/01/2036 | 4.000% | 430,000 | 416,872 | |
Total | 8,974,354 | |||
Sales Tax 1.2% | ||||
California Statewide Communities Development Authority | ||||
Certificate of Participation | ||||
Total Road Improvement Program | ||||
Series 2018B (AGM) | ||||
12/01/2035 | 5.000% | 1,405,000 | 1,474,416 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 11 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Sacramento Transient Occupancy | ||||
Revenue Bonds | ||||
Convention Center Complex | ||||
Subordinated Series 2018 | ||||
06/01/2035 | 5.000% | 615,000 | 635,325 | |
06/01/2036 | 5.000% | 1,180,000 | 1,215,113 | |
Total | 3,324,854 | |||
Special Non Property Tax 0.2% | ||||
Berkeley Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Series 2016 (BAM) | ||||
06/01/2033 | 4.000% | 415,000 | 409,021 | |
06/01/2034 | 4.000% | 250,000 | 245,156 | |
Total | 654,177 | |||
Special Property Tax 14.0% | ||||
Carson Public Financing Authority | ||||
Revenue Bonds | ||||
Series 2019 | ||||
09/02/2026 | 5.000% | 650,000 | 658,424 | |
City & County of San Francisco Community Facilities District No. 2016-1 | ||||
Special Tax Bonds | ||||
Series 2021 | ||||
09/01/2041 | 4.000% | 745,000 | 611,085 | |
City of Irvine | ||||
Refunding Special Assessment Bonds | ||||
Limited Obligation Reassessment District | ||||
Series 2015 | ||||
09/02/2025 | 5.000% | 1,295,000 | 1,315,811 | |
Special Assessment Refunding Bonds | ||||
Series 2019 | ||||
09/02/2032 | 5.000% | 340,000 | 350,737 | |
Concord Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014 (BAM) | ||||
03/01/2025 | 5.000% | 840,000 | 849,231 | |
Emeryville Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014A (AGM) | ||||
09/01/2027 | 5.000% | 1,000,000 | 1,007,578 | |
09/01/2030 | 5.000% | 815,000 | 820,921 | |
09/01/2031 | 5.000% | 590,000 | 594,340 | |
Garden Grove Agency Community Development Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Garden Grove Community Project | ||||
Series 2016 (BAM) | ||||
10/01/2030 | 5.000% | 1,040,000 | 1,068,556 | |
10/01/2031 | 5.000% | 1,640,000 | 1,685,099 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Inglewood Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Merged Redevelopment Project | ||||
Subordinated Series 2017 (BAM) | ||||
05/01/2032 | 5.000% | 500,000 | 514,377 | |
05/01/2033 | 5.000% | 1,000,000 | 1,028,707 | |
Irvine Facilities Financing Authority | ||||
Special Tax Bonds | ||||
Irvine Great Park Infrastructure Project | ||||
Series 2023 | ||||
09/01/2040 | 5.000% | 2,000,000 | 2,087,818 | |
Irvine Unified School District | ||||
Refunding Special Tax Bonds | ||||
Series 2015 | ||||
09/01/2030 | 5.000% | 2,065,000 | 2,099,049 | |
09/01/2031 | 5.000% | 2,720,000 | 2,764,890 | |
Jurupa Public Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Series 2014A | ||||
09/01/2029 | 5.000% | 530,000 | 535,103 | |
09/01/2030 | 5.000% | 625,000 | 630,813 | |
09/01/2032 | 5.000% | 625,000 | 630,201 | |
Los Angeles Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Playa Vista-Phase 1 | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 985,000 | 989,447 | |
Los Angeles County Redevelopment Authority | ||||
Refunding Tax Allocation Bonds | ||||
Los Angeles Bunker Hill Project | ||||
Series 2014C (AGM) | ||||
12/01/2028 | 5.000% | 3,000,000 | 3,031,839 | |
Oakley Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Oakley Redevelopment Project Area | ||||
Series 2018 (BAM) | ||||
09/01/2032 | 5.000% | 335,000 | 352,175 | |
09/01/2033 | 5.000% | 730,000 | 766,189 | |
09/01/2034 | 5.000% | 500,000 | 525,852 | |
Palm Desert Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2017A (BAM) | ||||
10/01/2029 | 5.000% | 890,000 | 919,763 | |
10/01/2030 | 5.000% | 350,000 | 363,338 | |
Poway Unified School District Public Financing Authority | ||||
Special Tax Refunding Bonds | ||||
Series 2015B | ||||
09/01/2026 | 5.000% | 995,000 | 1,018,010 | |
Rancho Cucamonga Redevelopment Agency Successor Agency | ||||
Tax Allocation Bonds | ||||
Rancho Redevelopment Project Area | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 700,000 | 703,264 |
12 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Riverside County Public Financing Authority | ||||
Tax Allocation Bonds | ||||
Project Area #1-Desert Communities | ||||
Series 2016 (BAM) | ||||
10/01/2031 | 4.000% | 2,500,000 | 2,430,951 | |
San Francisco City & County Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Mission Bay North Redevelopment Project | ||||
Series 2016 | ||||
08/01/2030 | 5.000% | 275,000 | 283,088 | |
08/01/2031 | 5.000% | 355,000 | 365,283 | |
Mission Bay South Redevelopment Project | ||||
Series 2016 | ||||
08/01/2031 | 5.000% | 670,000 | 689,407 | |
08/01/2032 | 5.000% | 580,000 | 596,672 | |
Tax Allocation Bonds | ||||
Mission Bay South Redevelopment Project | ||||
Series 2014A | ||||
08/01/2029 | 5.000% | 225,000 | 226,848 | |
08/01/2030 | 5.000% | 175,000 | 176,446 | |
San Mateo Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2015A | ||||
08/01/2028 | 5.000% | 1,860,000 | 1,891,530 | |
08/01/2029 | 5.000% | 1,000,000 | 1,015,363 | |
Tustin Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Legacy Villages of Columbus #06-1 | ||||
Series 2015 | ||||
09/01/2029 | 5.000% | 1,200,000 | 1,216,023 | |
Tustin Community Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2016 | ||||
09/01/2032 | 4.000% | 2,295,000 | 2,230,540 | |
Vista Redevelopment Agency Successor Agency | ||||
Tax Allocation Refunding Bonds | ||||
Series 2015B1 (AGM) | ||||
09/01/2026 | 5.000% | 700,000 | 712,953 | |
Total | 39,757,721 | |||
State Appropriated 5.0% | ||||
California State Public Works Board | ||||
Refunding Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2023 | ||||
09/01/2038 | 5.000% | 2,000,000 | 2,119,732 | |
Various Purpose | ||||
Series 2022A | ||||
08/01/2036 | 5.000% | 5,040,000 | 5,374,742 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Department of Corrections and Rehabilitation | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 1,175,000 | 1,195,982 | |
Green Bonds | ||||
Series 2021 | ||||
11/01/2037 | 4.000% | 2,665,000 | 2,538,789 | |
Various Correctional Facilities | ||||
Series 2014A | ||||
09/01/2031 | 5.000% | 3,000,000 | 3,020,339 | |
Total | 14,249,584 | |||
State General Obligation 2.0% | ||||
State of California | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
11/01/2029 | 5.000% | 2,165,000 | 2,321,720 | |
04/01/2031 | 5.000% | 1,000,000 | 1,061,538 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2023 | ||||
10/01/2039 | 5.000% | 1,000,000 | 1,065,850 | |
Various Purpose | ||||
Series 2021 | ||||
10/01/2028 | 5.000% | 1,205,000 | 1,281,356 | |
Total | 5,730,464 | |||
Tobacco 0.7% | ||||
California County Tobacco Securitization Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
06/01/2032 | 5.000% | 250,000 | 258,705 | |
06/01/2033 | 5.000% | 250,000 | 258,517 | |
06/01/2034 | 4.000% | 200,000 | 191,969 | |
Tobacco Securitization Authority of Southern California | ||||
Refunding Revenue Bonds | ||||
San Diego County Tobacco Asset Securitization Corp. | ||||
Series 2019 | ||||
06/01/2030 | 5.000% | 1,220,000 | 1,283,217 | |
Total | 1,992,408 | |||
Transportation 0.2% | ||||
Peninsula Corridor Joint Powers Board | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2036 | 5.000% | 315,000 | 330,824 | |
10/01/2037 | 5.000% | 300,000 | 312,004 | |
Total | 642,828 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 13 |
October 31, 2023 (Unaudited)
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Turnpike / Bridge / Toll Road 2.0% | ||||
Bay Area Toll Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017 | ||||
04/01/2031 | 4.000% | 2,000,000 | 1,989,777 | |
Foothill-Eastern Transportation Corridor Agency(g) | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
01/15/2033 | 0.000% | 5,000,000 | 3,210,559 | |
Riverside County Transportation Commission | ||||
Refunding Revenue Bonds | ||||
RCTC 91 Express Lanes | ||||
Series 2021 | ||||
06/01/2038 | 4.000% | 375,000 | 339,097 | |
Total | 5,539,433 | |||
Water & Sewer 5.0% | ||||
Beaumont Public Improvement Authority | ||||
Revenue Bonds | ||||
Series 2018-A (AGM) | ||||
09/01/2033 | 5.000% | 500,000 | 524,438 | |
09/01/2035 | 5.000% | 830,000 | 867,309 | |
City of Riverside Water | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2032 | 5.000% | 1,500,000 | 1,611,729 | |
City of Tulare Sewer | ||||
Refunding Revenue Bonds | ||||
Series 2015 (AGM) | ||||
11/15/2025 | 5.000% | 700,000 | 716,694 | |
11/15/2026 | 5.000% | 1,000,000 | 1,020,111 | |
Livermore Valley Water Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2034 | 4.000% | 920,000 | 918,842 | |
Los Angeles County Sanitation Districts Financing Authority | ||||
Refunding Revenue Bonds | ||||
Capital Projects - District #14 | ||||
Subordinated Series 2015 | ||||
10/01/2024 | 5.000% | 1,050,000 | 1,063,257 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Los Angeles Department of Water & Power Water System | ||||
Refunding Revenue Bonds | ||||
Series 2022D | ||||
07/01/2040 | 5.000% | 2,500,000 | 2,641,426 | |
Series 2023A | ||||
07/01/2040 | 5.000% | 500,000 | 530,943 | |
Mountain House Public Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Subordinated Series 2020B (BAM) | ||||
12/01/2035 | 4.000% | 1,000,000 | 969,343 | |
Santa Paula Utility Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019 (AGM) | ||||
02/01/2034 | 4.000% | 575,000 | 567,027 | |
02/01/2036 | 4.000% | 1,325,000 | 1,243,854 | |
Stockton Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014 (BAM) | ||||
09/01/2028 | 5.000% | 1,500,000 | 1,509,671 | |
Total | 14,184,644 | |||
Total Municipal Bonds (Cost $294,631,035) | 281,686,097 |
Money Market Funds 1.0% | ||
Shares | Value ($) | |
BlackRock Liquidity Funds MuniCash, Institutional Shares, 3.823%(h) | 2,911,546 | 2,911,546 |
Total Money Market Funds (Cost $2,911,546) | 2,911,546 | |
Total Investments in Securities (Cost: $301,087,581) | 288,142,643 | |
Other Assets & Liabilities, Net | (4,904,543) | |
Net Assets | 283,238,100 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of October 31, 2023. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Represents a security purchased on a when-issued basis. |
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At October 31, 2023, the total value of these securities amounted to $18,162,248, which represents 6.41% of total net assets. |
14 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
(f) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of October 31, 2023. |
(g) | Zero coupon bond. |
(h) | The rate shown is the seven-day current annualized yield at October 31, 2023. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 3,545,000 | — | 3,545,000 |
Municipal Bonds | — | 281,686,097 | — | 281,686,097 |
Money Market Funds | 2,911,546 | — | — | 2,911,546 |
Total Investments in Securities | 2,911,546 | 285,231,097 | — | 288,142,643 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 15 |
October 31, 2023 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $301,087,581) | $288,142,643 |
Cash | 1,124 |
Receivable for: | |
Capital shares sold | 853,146 |
Dividends | 11,055 |
Interest | 3,736,130 |
Expense reimbursement due from Investment Manager | 765 |
Prepaid expenses | 7,633 |
Other assets | 2,494 |
Total assets | 292,754,990 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 8,267,453 |
Capital shares redeemed | 437,782 |
Distributions to shareholders | 677,953 |
Management services fees | 3,638 |
Distribution and/or service fees | 268 |
Transfer agent fees | 13,065 |
Trustees’ fees | 92,903 |
Compensation of chief compliance officer | 30 |
Other expenses | 23,798 |
Total liabilities | 9,516,890 |
Net assets applicable to outstanding capital stock | $283,238,100 |
Represented by | |
Paid in capital | 308,745,312 |
Total distributable earnings (loss) | (25,507,212) |
Total - representing net assets applicable to outstanding capital stock | $283,238,100 |
Class A | |
Net assets | $31,004,013 |
Shares outstanding | 3,294,800 |
Net asset value per share | $9.41 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.70 |
Advisor Class | |
Net assets | $12,224,667 |
Shares outstanding | 1,302,898 |
Net asset value per share | $9.38 |
Class C | |
Net assets | $2,368,566 |
Shares outstanding | 251,853 |
Net asset value per share | $9.40 |
Institutional Class | |
Net assets | $145,552,243 |
Shares outstanding | 15,490,375 |
Net asset value per share | $9.40 |
Institutional 2 Class | |
Net assets | $8,085,144 |
Shares outstanding | 863,796 |
Net asset value per share | $9.36 |
Institutional 3 Class | |
Net assets | $84,003,467 |
Shares outstanding | 8,949,450 |
Net asset value per share | $9.39 |
16 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
Six Months Ended October 31, 2023 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $38,792 |
Interest | 4,916,749 |
Total income | 4,955,541 |
Expenses: | |
Management services fees | 733,365 |
Distribution and/or service fees | |
Class A | 52,307 |
Class C | 13,825 |
Transfer agent fees | |
Class A | 14,334 |
Advisor Class | 4,288 |
Class C | 946 |
Institutional Class | 51,283 |
Institutional 2 Class | 3,109 |
Institutional 3 Class | 2,814 |
Trustees’ fees | 11,464 |
Custodian fees | 1,154 |
Printing and postage fees | 6,984 |
Registration fees | 9,048 |
Accounting services fees | 15,512 |
Legal fees | 7,924 |
Interest on interfund lending | 420 |
Compensation of chief compliance officer | 30 |
Other | 7,913 |
Total expenses | 936,720 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (154,146) |
Expense reduction | (20) |
Total net expenses | 782,554 |
Net investment income | 4,172,987 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (1,492,238) |
Net realized loss | (1,492,238) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (11,124,531) |
Net change in unrealized appreciation (depreciation) | (11,124,531) |
Net realized and unrealized loss | (12,616,769) |
Net decrease in net assets resulting from operations | $(8,443,782) |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 17 |
Six Months Ended October 31, 2023 (Unaudited) | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $4,172,987 | $8,642,866 |
Net realized loss | (1,492,238) | (6,312,604) |
Net change in unrealized appreciation (depreciation) | (11,124,531) | 7,873,119 |
Net increase (decrease) in net assets resulting from operations | (8,443,782) | 10,203,381 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (503,080) | (1,020,973) |
Advisor Class | (166,417) | (187,364) |
Class C | (22,991) | (61,373) |
Institutional Class | (1,990,328) | (4,812,440) |
Institutional 2 Class | (146,224) | (208,125) |
Institutional 3 Class | (1,287,880) | (2,371,668) |
Total distributions to shareholders | (4,116,920) | (8,661,943) |
Decrease in net assets from capital stock activity | (17,914,377) | (100,881,238) |
Total decrease in net assets | (30,475,079) | (99,339,800) |
Net assets at beginning of period | 313,713,179 | 413,052,979 |
Net assets at end of period | $283,238,100 | $313,713,179 |
18 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
Six Months Ended | Year Ended | |||
October 31, 2023 (Unaudited) | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 468,189 | 4,499,809 | 1,388,101 | 13,484,325 |
Distributions reinvested | 48,760 | 470,360 | 96,307 | 938,350 |
Shares redeemed | (1,682,339) | (16,071,759) | (1,570,463) | (15,256,743) |
Net decrease | (1,165,390) | (11,101,590) | (86,055) | (834,068) |
Advisor Class | ||||
Shares sold | 153,848 | 1,497,537 | 1,127,065 | 10,749,141 |
Distributions reinvested | 17,299 | 166,186 | 19,271 | 187,120 |
Shares redeemed | (75,462) | (727,079) | (114,264) | (1,106,916) |
Net increase | 95,685 | 936,644 | 1,032,072 | 9,829,345 |
Class C | ||||
Shares sold | 9,763 | 95,266 | 61,305 | 594,796 |
Distributions reinvested | 2,172 | 20,935 | 5,920 | 57,628 |
Shares redeemed | (85,253) | (829,160) | (188,806) | (1,846,248) |
Net decrease | (73,318) | (712,959) | (121,581) | (1,193,824) |
Institutional Class | ||||
Shares sold | 2,559,803 | 24,684,627 | 11,042,139 | 107,049,493 |
Distributions reinvested | 190,427 | 1,832,280 | 311,400 | 3,032,847 |
Shares redeemed | (2,137,142) | (20,581,957) | (32,069,479) | (313,176,375) |
Net increase (decrease) | 613,088 | 5,934,950 | (20,715,940) | (203,094,035) |
Institutional 2 Class | ||||
Shares sold | 335,738 | 3,278,789 | 679,936 | 6,601,469 |
Distributions reinvested | 15,166 | 145,562 | 21,332 | 206,883 |
Shares redeemed | (360,595) | (3,410,996) | (730,653) | (7,065,394) |
Net increase (decrease) | (9,691) | 13,355 | (29,385) | (257,042) |
Institutional 3 Class | ||||
Shares sold | 292,720 | 2,821,696 | 17,610,722 | 172,173,489 |
Distributions reinvested | 9,359 | 89,950 | 17,727 | 172,176 |
Shares redeemed | (1,648,647) | (15,896,423) | (8,020,896) | (77,677,279) |
Net increase (decrease) | (1,346,568) | (12,984,777) | 9,607,553 | 94,668,386 |
Total net decrease | (1,886,194) | (17,914,377) | (10,313,336) | (100,881,238) |
Columbia California Intermediate Municipal Bond Fund | Semiannual 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 | Total distributions to shareholders | |
Class A | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.81 | 0.12 | (0.40) | (0.28) | (0.12) | (0.12) |
Year Ended 4/30/2023 | $9.77 | 0.23 | 0.04 | 0.27 | (0.23) | (0.23) |
Year Ended 4/30/2022 | $10.71 | 0.21 | (0.94) | (0.73) | (0.21) | (0.21) |
Year Ended 4/30/2021 | $10.24 | 0.22 | 0.47 | 0.69 | (0.22) | (0.22) |
Year Ended 4/30/2020 | $10.46 | 0.24 | (0.22) | 0.02 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.23 | 0.27 | 0.23 | 0.50 | (0.27) | (0.27) |
Advisor Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.78 | 0.13 | (0.40) | (0.27) | (0.13) | (0.13) |
Year Ended 4/30/2023 | $9.75 | 0.25 | 0.03 | 0.28 | (0.25) | (0.25) |
Year Ended 4/30/2022 | $10.68 | 0.23 | (0.93) | (0.70) | (0.23) | (0.23) |
Year Ended 4/30/2021 | $10.21 | 0.25 | 0.47 | 0.72 | (0.25) | (0.25) |
Year Ended 4/30/2020 | $10.43 | 0.27 | (0.22) | 0.05 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.20 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Class C | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.80 | 0.08 | (0.40) | (0.32) | (0.08) | (0.08) |
Year Ended 4/30/2023 | $9.77 | 0.15 | 0.03 | 0.18 | (0.15) | (0.15) |
Year Ended 4/30/2022 | $10.71 | 0.13 | (0.94) | (0.81) | (0.13) | (0.13) |
Year Ended 4/30/2021 | $10.23 | 0.14 | 0.48 | 0.62 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.46 | 0.16 | (0.23) | (0.07) | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.22 | 0.20 | 0.24 | 0.44 | (0.20) | (0.20) |
Institutional Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.79 | 0.13 | (0.39) | (0.26) | (0.13) | (0.13) |
Year Ended 4/30/2023 | $9.75 | 0.25 | 0.04 | 0.29 | (0.25) | (0.25) |
Year Ended 4/30/2022 | $10.69 | 0.23 | (0.94) | (0.71) | (0.23) | (0.23) |
Year Ended 4/30/2021 | $10.21 | 0.25 | 0.48 | 0.73 | (0.25) | (0.25) |
Year Ended 4/30/2020 | $10.44 | 0.27 | (0.23) | 0.04 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.21 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Institutional 2 Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.76 | 0.13 | (0.40) | (0.27) | (0.13) | (0.13) |
Year Ended 4/30/2023 | $9.72 | 0.25 | 0.04 | 0.29 | (0.25) | (0.25) |
Year Ended 4/30/2022 | $10.66 | 0.24 | (0.94) | (0.70) | (0.24) | (0.24) |
Year Ended 4/30/2021 | $10.18 | 0.26 | 0.48 | 0.74 | (0.26) | (0.26) |
Year Ended 4/30/2020 | $10.41 | 0.27 | (0.22) | 0.05 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.18 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
20 | Columbia California Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.41 | (2.89%) | 0.83%(c) | 0.73%(c),(d) | 2.44% | 9% | $31,004 |
Year Ended 4/30/2023 | $9.81 | 2.76% | 0.83%(c) | 0.73%(c),(d) | 2.31% | 12% | $43,752 |
Year Ended 4/30/2022 | $9.77 | (6.96%) | 0.85% | 0.74%(d) | 1.96% | 8% | $44,427 |
Year Ended 4/30/2021 | $10.71 | 6.80% | 0.87% | 0.75%(d) | 2.09% | 5% | $34,289 |
Year Ended 4/30/2020 | $10.24 | 0.17% | 0.86% | 0.75%(d) | 2.30% | 6% | $31,402 |
Year Ended 4/30/2019 | $10.46 | 5.00% | 0.87% | 0.74%(d) | 2.67% | 17% | $31,998 |
Advisor Class | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.38 | (2.78%) | 0.58%(c) | 0.48%(c),(d) | 2.70% | 9% | $12,225 |
Year Ended 4/30/2023 | $9.78 | 2.92% | 0.58%(c) | 0.48%(c),(d) | 2.63% | 12% | $11,806 |
Year Ended 4/30/2022 | $9.75 | (6.65%) | 0.60% | 0.49%(d) | 2.21% | 8% | $1,707 |
Year Ended 4/30/2021 | $10.68 | 7.08% | 0.62% | 0.50%(d) | 2.34% | 5% | $2,961 |
Year Ended 4/30/2020 | $10.21 | 0.41% | 0.61% | 0.50%(d) | 2.54% | 6% | $2,354 |
Year Ended 4/30/2019 | $10.43 | 5.28% | 0.62% | 0.49%(d) | 2.92% | 17% | $2,254 |
Class C | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.40 | (3.26%) | 1.58%(c) | 1.48%(c),(d) | 1.70% | 9% | $2,369 |
Year Ended 4/30/2023 | $9.80 | 1.89% | 1.58%(c) | 1.48%(c),(d) | 1.56% | 12% | $3,188 |
Year Ended 4/30/2022 | $9.77 | (7.65%) | 1.60% | 1.49%(d) | 1.20% | 8% | $4,363 |
Year Ended 4/30/2021 | $10.71 | 6.11% | 1.62% | 1.50%(d) | 1.35% | 5% | $7,658 |
Year Ended 4/30/2020 | $10.23 | (0.68%) | 1.61% | 1.50%(d) | 1.54% | 6% | $10,387 |
Year Ended 4/30/2019 | $10.46 | 4.32% | 1.62% | 1.49%(d) | 1.92% | 17% | $11,161 |
Institutional Class | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.40 | (2.67%) | 0.58%(c) | 0.48%(c),(d) | 2.70% | 9% | $145,552 |
Year Ended 4/30/2023 | $9.79 | 3.02% | 0.58%(c) | 0.48%(c),(d) | 2.52% | 12% | $145,710 |
Year Ended 4/30/2022 | $9.75 | (6.74%) | 0.60% | 0.49%(d) | 2.21% | 8% | $347,070 |
Year Ended 4/30/2021 | $10.69 | 7.18% | 0.62% | 0.50%(d) | 2.34% | 5% | $388,017 |
Year Ended 4/30/2020 | $10.21 | 0.31% | 0.61% | 0.50%(d) | 2.54% | 6% | $382,665 |
Year Ended 4/30/2019 | $10.44 | 5.27% | 0.62% | 0.49%(d) | 2.92% | 17% | $343,276 |
Institutional 2 Class | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.36 | (2.78%) | 0.57%(c) | 0.47%(c) | 2.72% | 9% | $8,085 |
Year Ended 4/30/2023 | $9.76 | 3.03% | 0.56%(c) | 0.46%(c) | 2.58% | 12% | $8,524 |
Year Ended 4/30/2022 | $9.72 | (6.72%) | 0.55% | 0.44% | 2.25% | 8% | $8,777 |
Year Ended 4/30/2021 | $10.66 | 7.26% | 0.56% | 0.44% | 2.40% | 5% | $13,265 |
Year Ended 4/30/2020 | $10.18 | 0.37% | 0.55% | 0.44% | 2.60% | 6% | $10,846 |
Year Ended 4/30/2019 | $10.41 | 5.34% | 0.56% | 0.43% | 2.98% | 17% | $10,662 |
Columbia California Intermediate Municipal Bond Fund | Semiannual 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 | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.78 | 0.14 | (0.40) | (0.26) | (0.13) | (0.13) |
Year Ended 4/30/2023 | $9.74 | 0.26 | 0.04 | 0.30 | (0.26) | (0.26) |
Year Ended 4/30/2022 | $10.68 | 0.24 | (0.94) | (0.70) | (0.24) | (0.24) |
Year Ended 4/30/2021 | $10.21 | 0.26 | 0.47 | 0.73 | (0.26) | (0.26) |
Year Ended 4/30/2020 | $10.43 | 0.28 | (0.22) | 0.06 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.20 | 0.31 | 0.23 | 0.54 | (0.31) | (0.31) |
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 California Intermediate Municipal Bond Fund | Semiannual 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 | |||||||
Six Months Ended 10/31/2023 (Unaudited) | $9.39 | (2.64%) | 0.51%(c) | 0.42%(c) | 2.76% | 9% | $84,003 |
Year Ended 4/30/2023 | $9.78 | 3.09% | 0.52%(c) | 0.42%(c) | 2.68% | 12% | $100,733 |
Year Ended 4/30/2022 | $9.74 | (6.66%) | 0.50% | 0.39% | 2.31% | 8% | $6,708 |
Year Ended 4/30/2021 | $10.68 | 7.19% | 0.51% | 0.39% | 2.45% | 5% | $5,348 |
Year Ended 4/30/2020 | $10.21 | 0.52% | 0.50% | 0.39% | 2.64% | 6% | $5,307 |
Year Ended 4/30/2019 | $10.43 | 5.39% | 0.51% | 0.38% | 3.02% | 17% | $3,231 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 23 |
October 31, 2023 (Unaudited)
24 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 25 |
October 31, 2023 (Unaudited)
26 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Effective rate (%) | |
Class A | 0.07 |
Advisor Class | 0.07 |
Class C | 0.07 |
Institutional Class | 0.07 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 1,504 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 27 |
October 31, 2023 (Unaudited)
September 1, 2023 through August 31, 2024 | Prior to September 1, 2023 | |
Class A | 0.73% | 0.75% |
Advisor Class | 0.48 | 0.50 |
Class C | 1.48 | 1.50 |
Institutional Class | 0.48 | 0.50 |
Institutional 2 Class | 0.47 | 0.47 |
Institutional 3 Class | 0.42 | 0.42 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
301,088,000 | 373,000 | (13,318,000) | (12,945,000) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(5,259,899) | (5,748,828) | (11,008,727) |
28 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 2,700,000 | 5.61 | 1 |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 29 |
October 31, 2023 (Unaudited)
30 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
October 31, 2023 (Unaudited)
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 31 |
October 31, 2023 (Unaudited)
32 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to one or more benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 33 |
(Unaudited)
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
34 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
(Unaudited)
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 | 35 |
(Unaudited)
On June 22, 2023, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
36 | Columbia California Intermediate Municipal Bond Fund | Semiannual Report 2023 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
Not applicable for semiannual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semiannual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semiannual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a) | The registrant’s “Schedule I – Investments in securities of unaffiliated issuers” (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive officer and principal financial officer, based on their evaluation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant’s management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. |
(b) | There was no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR: Not applicable for semiannual reports.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) | Columbia Funds Series Trust |
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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 | December 20, 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 | December 20, 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 | December 20, 2023 |
By (Signature and Title) | /s/ Joseph Beranek |
| Joseph Beranek, Treasurer, Chief Accounting |
| Officer and Principal Financial Officer |
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Date | December 20, 2023 |