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 811-21852
Columbia Funds Series Trust II
(Exact name of registrant as specified in charter)
290 Congress Street
Boston, MA 02210
(Address of principal executive offices) (Zip code)
Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: February 28
Date of reporting period: August 31, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
August 31, 2022 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended August 31, 2022) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 03/20/95 | -7.71 | -8.84 | 6.02 | 8.18 |
Including sales charges | -13.04 | -14.09 | 4.78 | 7.54 | ||
Advisor Class | 12/11/06 | -7.61 | -8.59 | 6.29 | 8.45 | |
Class C | Excluding sales charges | 06/26/00 | -8.09 | -9.52 | 5.22 | 7.37 |
Including sales charges | -8.95 | -10.33 | 5.22 | 7.37 | ||
Institutional Class | 09/27/10 | -7.64 | -8.65 | 6.29 | 8.45 | |
Institutional 2 Class | 12/11/06 | -7.55 | -8.53 | 6.38 | 8.55 | |
Institutional 3 Class* | 02/28/13 | -7.56 | -8.53 | 6.42 | 8.60 | |
Class R | 12/11/06 | -7.86 | -9.09 | 5.78 | 7.92 | |
MSCI World Value Index (Net) | -8.34 | -7.45 | 4.66 | 7.41 | ||
MSCI World Index (Net) | -10.94 | -15.08 | 7.85 | 9.47 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the oldest share class of the Fund, Class B, are no longer available, Class A shares of the Fund were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Global Value Fund | Semiannual Report 2022 | 3 |
(Unaudited)
Equity sector breakdown (%) (at August 31, 2022) | |
Communication Services | 5.5 |
Consumer Discretionary | 5.2 |
Consumer Staples | 9.9 |
Energy | 11.0 |
Financials | 19.7 |
Health Care | 16.9 |
Industrials | 11.0 |
Information Technology | 9.5 |
Materials | 3.8 |
Real Estate | 2.4 |
Utilities | 5.1 |
Total | 100.0 |
Country breakdown (%) (at August 31, 2022) | |
Australia | 0.6 |
Canada | 5.0 |
Finland | 1.5 |
France | 3.5 |
Hong Kong | 1.1 |
Japan | 6.0 |
Netherlands | 3.0 |
Puerto Rico | 0.8 |
Russian Federation | 0.0 |
Singapore | 1.9 |
South Korea | 1.6 |
Spain | 0.5 |
United Kingdom | 6.2 |
United States(a) | 68.3 |
Total | 100.0 |
(a) | Includes investments in Money Market Funds. |
4 | Columbia Global Value Fund | Semiannual Report 2022 |
(Unaudited)
March 1, 2022 — August 31, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 922.90 | 1,019.56 | 5.43 | 5.70 | 1.12 |
Advisor Class | 1,000.00 | 1,000.00 | 923.90 | 1,020.82 | 4.22 | 4.43 | 0.87 |
Class C | 1,000.00 | 1,000.00 | 919.10 | 1,015.83 | 9.00 | 9.45 | 1.86 |
Institutional Class | 1,000.00 | 1,000.00 | 923.60 | 1,020.82 | 4.22 | 4.43 | 0.87 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 924.50 | 1,021.27 | 3.78 | 3.97 | 0.78 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 924.40 | 1,021.42 | 3.64 | 3.82 | 0.75 |
Class R | 1,000.00 | 1,000.00 | 921.40 | 1,018.35 | 6.59 | 6.92 | 1.36 |
Columbia Global Value Fund | Semiannual Report 2022 | 5 |
August 31, 2022 (Unaudited)
Common Stocks 97.1% | ||
Issuer | Shares | Value ($) |
Australia 0.6% | ||
Northern Star Resources Ltd. | 932,900 | 4,930,604 |
Canada 5.0% | ||
Alimentation Couche-Tard, Inc. | 377,073 | 16,204,363 |
Cameco Corp.(a) | 403,800 | 11,770,770 |
West Fraser Timber Co., Ltd. | 68,728 | 6,148,810 |
Yamana Gold, Inc. | 1,289,790 | 5,687,974 |
Total | 39,811,917 | |
Finland 1.6% | ||
UPM-Kymmene OYJ | 364,603 | 12,387,124 |
France 3.5% | ||
AXA SA | 685,323 | 16,140,464 |
BNP Paribas SA | 260,950 | 12,126,396 |
Total | 28,266,860 | |
Hong Kong 1.1% | ||
WH Group Ltd. | 12,771,593 | 8,701,585 |
Japan 6.0% | ||
Daiwabo Holdings Co., Ltd. | 670,800 | 9,442,960 |
ITOCHU Corp. | 505,800 | 13,919,980 |
ORIX Corp. | 836,001 | 13,741,673 |
Takeda Pharmaceutical Co., Ltd. | 386,228 | 10,675,363 |
Total | 47,779,976 | |
Netherlands 3.0% | ||
ING Groep NV | 1,047,186 | 9,177,998 |
Shell PLC | 571,099 | 15,115,867 |
Total | 24,293,865 | |
Puerto Rico 0.8% | ||
Popular, Inc. | 81,657 | 6,305,554 |
Russian Federation —% | ||
Lukoil PJSC(b),(c),(d) | 48,225 | — |
Singapore 1.9% | ||
BW LPG Ltd. | 540,245 | 3,511,752 |
Venture Corp., Ltd. | 917,200 | 11,983,077 |
Total | 15,494,829 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
South Korea 1.6% | ||
Hyundai Home Shopping Network Corp. | 77,381 | 2,882,460 |
Youngone Corp. | 299,871 | 9,928,514 |
Total | 12,810,974 | |
Spain 0.5% | ||
Endesa SA | 228,099 | 3,912,357 |
United Kingdom 6.2% | ||
BP PLC, ADR | 361,865 | 11,159,917 |
BT Group PLC | 3,420,543 | 5,983,558 |
DCC PLC | 74,928 | 4,312,434 |
John Wood Group PLC(e) | 1,245,774 | 1,865,109 |
Just Group PLC | 6,205,213 | 5,181,611 |
TP Icap Group PLC | 4,361,487 | 7,778,129 |
Vodafone Group PLC | 9,793,118 | 13,111,538 |
Total | 49,392,296 | |
United States 65.3% | ||
AbbVie, Inc. | 109,258 | 14,690,831 |
Ameren Corp. | 203,885 | 18,883,829 |
American Electric Power Co., Inc. | 165,713 | 16,604,443 |
AT&T, Inc. | 742,066 | 13,015,838 |
Bank of America Corp. | 517,351 | 17,388,167 |
Boston Scientific Corp.(e) | 249,363 | 10,051,822 |
Broadcom, Inc. | 31,959 | 15,951,056 |
Cisco Systems, Inc. | 381,429 | 17,057,505 |
ConocoPhillips Co. | 213,792 | 23,399,534 |
Constellation Brands, Inc., Class A | 43,672 | 10,745,496 |
Discover Financial Services | 110,381 | 11,092,187 |
Electronic Arts, Inc. | 84,568 | 10,729,142 |
Elevance Health, Inc. | 24,848 | 12,054,013 |
Eli Lilly & Co. | 29,546 | 8,900,142 |
Extra Space Storage, Inc. | 48,934 | 9,724,654 |
Hershey Co. (The) | 64,347 | 14,456,840 |
Hilton Worldwide Holdings, Inc. | 44,960 | 5,726,106 |
Home Depot, Inc. (The) | 28,191 | 8,130,848 |
Invitation Homes, Inc. | 243,849 | 8,846,842 |
Jazz Pharmaceuticals PLC(e) | 71,328 | 11,071,532 |
6 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Johnson & Johnson | 127,349 | 20,546,488 |
MasTec, Inc.(e) | 76,665 | 6,171,532 |
MetLife, Inc. | 231,888 | 14,917,355 |
Morgan Stanley | 185,871 | 15,839,927 |
Primo Water Corp. | 375,950 | 4,939,983 |
Procter & Gamble Co. (The) | 157,757 | 21,761,000 |
Quotient Ltd.(e) | 489,058 | 95,024 |
Raytheon Technologies Corp. | 126,947 | 11,393,493 |
Republic Services, Inc. | 74,010 | 10,562,707 |
S&P Global, Inc. | 30,712 | 10,816,152 |
ServiceNow, Inc.(e) | 13,973 | 6,072,945 |
State Street Corp. | 180,438 | 12,332,937 |
Stryker Corp. | 47,058 | 9,656,302 |
Target Corp. | 87,824 | 14,081,700 |
TE Connectivity Ltd. | 107,733 | 13,596,982 |
Trane Technologies PLC | 73,065 | 11,257,124 |
Union Pacific Corp. | 60,484 | 13,579,263 |
United Parcel Service, Inc., Class B | 74,368 | 14,465,320 |
UnitedHealth Group, Inc. | 45,875 | 23,824,264 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Valero Energy Corp. | 158,567 | 18,571,367 |
Zoetis, Inc. | 63,147 | 9,884,400 |
Total | 522,887,092 | |
Total Common Stocks (Cost $722,386,553) | 776,975,033 | |
Exchange-Traded Equity Funds 1.6% | ||
Shares | Value ($) | |
United States 1.6% | ||
iShares Russell 1000 Value ETF | 87,520 | 13,124,499 |
Total Exchange-Traded Equity Funds (Cost $13,380,995) | 13,124,499 | |
Money Market Funds 1.5% | ||
Columbia Short-Term Cash Fund, 2.366%(f),(g) | 11,833,035 | 11,827,119 |
Total Money Market Funds (Cost $11,827,067) | 11,827,119 | |
Total Investments in Securities (Cost $747,594,615) | 801,926,651 | |
Other Assets & Liabilities, Net | (1,338,547) | |
Net Assets | $800,588,104 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
8,215,000 AUD | 5,720,382 USD | Morgan Stanley | 09/01/2022 | 99,268 | — |
12,299,000 AUD | 8,342,269 USD | Morgan Stanley | 09/01/2022 | — | (73,322) |
17,898,000 CAD | 13,830,259 USD | Morgan Stanley | 09/01/2022 | 202,514 | — |
8,909,000 CHF | 9,197,224 USD | Morgan Stanley | 09/01/2022 | 83,157 | — |
8,180,000 EUR | 8,360,514 USD | Morgan Stanley | 09/01/2022 | 140,023 | — |
4,909,000 GBP | 5,883,296 USD | Morgan Stanley | 09/01/2022 | 180,510 | — |
2,147,241,000 JPY | 15,852,108 USD | Morgan Stanley | 09/01/2022 | 395,992 | — |
13,083,138,000 KRW | 10,056,990 USD | Morgan Stanley | 09/01/2022 | 275,570 | — |
25,591,000 NOK | 2,642,082 USD | Morgan Stanley | 09/01/2022 | 66,978 | — |
20,357,000 NZD | 12,670,075 USD | Morgan Stanley | 09/01/2022 | 214,644 | — |
132,046,000 SEK | 12,936,808 USD | Morgan Stanley | 09/01/2022 | 549,754 | — |
7,049,000 SGD | 5,072,683 USD | Morgan Stanley | 09/01/2022 | 28,495 | — |
8,414,607 USD | 12,299,000 AUD | Morgan Stanley | 09/01/2022 | 984 | — |
5,709,101 USD | 8,215,000 AUD | Morgan Stanley | 09/01/2022 | — | (87,988) |
13,909,042 USD | 17,898,000 CAD | Morgan Stanley | 09/01/2022 | — | (281,294) |
9,237,424 USD | 8,909,000 CHF | Morgan Stanley | 09/01/2022 | — | (123,357) |
8,148,589 USD | 8,180,000 EUR | Morgan Stanley | 09/01/2022 | 71,902 | — |
5,795,630 USD | 4,909,000 GBP | Morgan Stanley | 09/01/2022 | — | (92,845) |
15,684,855 USD | 2,147,241,000 JPY | Morgan Stanley | 09/01/2022 | — | (228,739) |
9,786,542 USD | 13,083,138,000 KRW | Morgan Stanley | 09/01/2022 | — | (5,122) |
Columbia Global Value Fund | Semiannual Report 2022 | 7 |
August 31, 2022 (Unaudited)
Forward foreign currency exchange contracts (continued) | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
2,519,708 USD | 25,591,000 NOK | Morgan Stanley | 09/01/2022 | 55,396 | — |
12,546,833 USD | 20,357,000 NZD | Morgan Stanley | 09/01/2022 | — | (91,403) |
12,545,222 USD | 132,046,000 SEK | Morgan Stanley | 09/01/2022 | — | (158,168) |
5,031,852 USD | 7,049,000 SGD | Morgan Stanley | 09/01/2022 | 12,336 | — |
6,355,000 CHF | 6,615,454 USD | Morgan Stanley | 10/20/2022 | 88,795 | — |
11,589,000 EUR | 11,584,403 USD | Morgan Stanley | 10/20/2022 | — | (100,207) |
4,898,000 GBP | 5,788,209 USD | Morgan Stanley | 10/20/2022 | 92,726 | — |
1,913,005,000 JPY | 14,031,135 USD | Morgan Stanley | 10/20/2022 | 204,678 | — |
16,583,270,000 KRW | 12,403,807 USD | Morgan Stanley | 10/20/2022 | 43,716 | — |
6,667,362 USD | 9,569,000 AUD | Morgan Stanley | 10/20/2022 | — | (115,142) |
12,481,190 USD | 20,056,000 NZD | Morgan Stanley | 10/20/2022 | — | (211,290) |
4,141,905 USD | 43,783,000 SEK | Morgan Stanley | 10/20/2022 | — | (25,267) |
4,142,161 USD | 5,754,000 SGD | Morgan Stanley | 10/20/2022 | — | (23,618) |
Total | 2,807,438 | (1,617,762) |
Call option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
Cameco Corp. | Morgan Stanley | USD | (4,191,770) | (1,438) | 34.00 | 9/16/2022 | (52,473) | (40,983) |
(a) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(b) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At August 31, 2022, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(c) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Fund’s Board of Trustees. At August 31, 2022, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Lukoil PJSC | 01/27/2022 | 48,225 | 4,239,605 | — |
(d) | Valuation based on significant unobservable inputs. |
(e) | Non-income producing investment. |
(f) | The rate shown is the seven-day current annualized yield at August 31, 2022. |
(g) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended August 31, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 2.366% | ||||||||
11,225,219 | 53,299,632 | (52,697,980) | 248 | 11,827,119 | (1,897) | 48,862 | 11,833,035 |
ADR | American Depositary Receipt |
8 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | South Korean Won |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Global Value Fund | Semiannual Report 2022 | 9 |
August 31, 2022 (Unaudited)
The following table is a summary of the inputs used to value the Fund’s investments at August 31, 2022:
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | — | 4,930,604 | — | 4,930,604 |
Canada | 39,811,917 | — | — | 39,811,917 |
Finland | — | 12,387,124 | — | 12,387,124 |
France | — | 28,266,860 | — | 28,266,860 |
Hong Kong | — | 8,701,585 | — | 8,701,585 |
Japan | — | 47,779,976 | — | 47,779,976 |
Netherlands | — | 24,293,865 | — | 24,293,865 |
Puerto Rico | 6,305,554 | — | — | 6,305,554 |
Russian Federation | — | — | 0* | 0* |
Singapore | — | 15,494,829 | — | 15,494,829 |
South Korea | — | 12,810,974 | — | 12,810,974 |
Spain | — | 3,912,357 | — | 3,912,357 |
United Kingdom | 11,159,917 | 38,232,379 | — | 49,392,296 |
United States | 522,887,092 | — | — | 522,887,092 |
Total Common Stocks | 580,164,480 | 196,810,553 | 0* | 776,975,033 |
Exchange-Traded Equity Funds | 13,124,499 | — | — | 13,124,499 |
Money Market Funds | 11,827,119 | — | — | 11,827,119 |
Total Investments in Securities | 605,116,098 | 196,810,553 | 0* | 801,926,651 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 2,807,438 | — | 2,807,438 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (1,617,762) | — | (1,617,762) |
Options Contracts Written | (40,983) | — | — | (40,983) |
Total | 605,075,115 | 198,000,229 | 0* | 803,075,344 |
* | Rounds to zero. |
10 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $735,767,548) | $790,099,532 |
Affiliated issuers (cost $11,827,067) | 11,827,119 |
Unrealized appreciation on forward foreign currency exchange contracts | 2,807,438 |
Receivable for: | |
Investments sold | 405,648 |
Capital shares sold | 121,101 |
Dividends | 1,956,315 |
Foreign tax reclaims | 946,270 |
Prepaid expenses | 13,534 |
Trustees’ deferred compensation plan | 83,277 |
Other assets | 24,766 |
Total assets | 808,285,000 |
Liabilities | |
Option contracts written, at value (premiums received $52,473) | 40,983 |
Unrealized depreciation on forward foreign currency exchange contracts | 1,617,762 |
Payable for: | |
Investments purchased | 4,997,570 |
Capital shares purchased | 561,073 |
Management services fees | 15,490 |
Distribution and/or service fees | 4,643 |
Transfer agent fees | 77,241 |
Compensation of board members | 272,405 |
Compensation of chief compliance officer | 83 |
Other expenses | 26,369 |
Trustees’ deferred compensation plan | 83,277 |
Total liabilities | 7,696,896 |
Net assets applicable to outstanding capital stock | $800,588,104 |
Represented by | |
Paid in capital | 804,723,681 |
Total distributable earnings (loss) | (4,135,577) |
Total - representing net assets applicable to outstanding capital stock | $800,588,104 |
Columbia Global Value Fund | Semiannual Report 2022 | 11 |
August 31, 2022 (Unaudited)
Class A | |
Net assets | $623,109,301 |
Shares outstanding | 55,785,499 |
Net asset value per share | $11.17 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $11.85 |
Advisor Class | |
Net assets | $6,735,337 |
Shares outstanding | 598,704 |
Net asset value per share | $11.25 |
Class C | |
Net assets | $9,184,282 |
Shares outstanding | 838,609 |
Net asset value per share | $10.95 |
Institutional Class | |
Net assets | $137,347,159 |
Shares outstanding | 12,261,820 |
Net asset value per share | $11.20 |
Institutional 2 Class | |
Net assets | $9,318,324 |
Shares outstanding | 834,360 |
Net asset value per share | $11.17 |
Institutional 3 Class | |
Net assets | $8,891,489 |
Shares outstanding | 827,865 |
Net asset value per share | $10.74 |
Class R | |
Net assets | $6,002,212 |
Shares outstanding | 539,373 |
Net asset value per share | $11.13 |
12 | Columbia Global Value Fund | Semiannual Report 2022 |
Six Months Ended August 31, 2022 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $15,538,851 |
Dividends — affiliated issuers | 48,862 |
European Union tax reclaim | 294,507 |
Foreign taxes withheld | (1,571,660) |
Total income | 14,310,560 |
Expenses: | |
Management services fees | 3,169,492 |
Distribution and/or service fees | |
Class A | 834,826 |
Class C | 51,737 |
Class R | 15,980 |
Transfer agent fees | |
Class A | 420,097 |
Advisor Class | 4,555 |
Class C | 6,506 |
Institutional Class | 92,726 |
Institutional 2 Class | 16,811 |
Institutional 3 Class | 489 |
Class R | 4,017 |
Compensation of board members | (6,719) |
Custodian fees | 29,146 |
Printing and postage fees | 41,469 |
Registration fees | 59,197 |
Audit fees | 32,811 |
Legal fees | 10,452 |
Interest on collateral | 950 |
Compensation of chief compliance officer | 80 |
Other | 15,981 |
Total expenses | 4,800,603 |
Net investment income | 9,509,957 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (2,548,631) |
Investments — affiliated issuers | (1,897) |
Foreign currency translations | (163,256) |
Forward foreign currency exchange contracts | 2,459,044 |
Options contracts written | 246,028 |
Net realized loss | (8,712) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (83,381,901) |
Investments — affiliated issuers | 248 |
Foreign currency translations | (164,527) |
Forward foreign currency exchange contracts | 904,547 |
Options contracts written | 54,544 |
Net change in unrealized appreciation (depreciation) | (82,587,089) |
Net realized and unrealized loss | (82,595,801) |
Net decrease in net assets resulting from operations | $(73,085,844) |
Columbia Global Value Fund | Semiannual Report 2022 | 13 |
Six Months Ended August 31, 2022 (Unaudited) | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $9,509,957 | $16,045,728 |
Net realized gain (loss) | (8,712) | 84,746,566 |
Net change in unrealized appreciation (depreciation) | (82,587,089) | 14,119,018 |
Net increase (decrease) in net assets resulting from operations | (73,085,844) | 114,911,312 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (38,491,040) | (81,232,263) |
Advisor Class | (419,911) | (633,869) |
Class C | (566,358) | (1,386,628) |
Institutional Class | (8,678,476) | (17,775,009) |
Institutional 2 Class | (4,182,300) | (8,001,138) |
Institutional 3 Class | (541,926) | (1,020,438) |
Class R | (359,738) | (894,905) |
Total distributions to shareholders | (53,239,749) | (110,944,250) |
Increase (decrease) in net assets from capital stock activity | (47,794,809) | 26,543,451 |
Total increase (decrease) in net assets | (174,120,402) | 30,510,513 |
Net assets at beginning of period | 974,708,506 | 944,197,993 |
Net assets at end of period | $800,588,104 | $974,708,506 |
14 | Columbia Global Value Fund | Semiannual Report 2022 |
Six Months Ended | Year Ended | |||
August 31, 2022 (Unaudited) | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 573,502 | 6,727,422 | 1,347,530 | 18,331,729 |
Distributions reinvested | 3,334,968 | 35,977,239 | 5,685,027 | 75,872,270 |
Redemptions | (3,174,280) | (37,833,410) | (6,099,044) | (83,270,532) |
Net increase | 734,190 | 4,871,251 | 933,513 | 10,933,467 |
Advisor Class | ||||
Subscriptions | 93,551 | 1,122,608 | 236,921 | 3,233,007 |
Distributions reinvested | 32,568 | 354,297 | 38,492 | 516,791 |
Redemptions | (102,303) | (1,238,485) | (81,795) | (1,113,927) |
Net increase | 23,816 | 238,420 | 193,618 | 2,635,871 |
Class C | ||||
Subscriptions | 20,276 | 231,655 | 56,966 | 762,318 |
Distributions reinvested | 53,629 | 565,176 | 105,312 | 1,383,420 |
Redemptions | (147,290) | (1,711,036) | (394,505) | (5,323,836) |
Net decrease | (73,385) | (914,205) | (232,227) | (3,178,098) |
Institutional Class | ||||
Subscriptions | 496,440 | 5,949,956 | 1,271,495 | 17,347,950 |
Distributions reinvested | 727,212 | 7,880,337 | 1,203,185 | 16,093,539 |
Redemptions | (1,007,420) | (12,057,904) | (1,972,965) | (26,981,639) |
Net increase | 216,232 | 1,772,389 | 501,715 | 6,459,850 |
Institutional 2 Class | ||||
Subscriptions | 310,353 | 3,798,363 | 849,645 | 11,595,971 |
Distributions reinvested | 383,987 | 4,146,520 | 595,599 | 7,939,385 |
Redemptions | (5,459,029) | (62,125,321) | (768,848) | (10,516,857) |
Net increase (decrease) | (4,764,689) | (54,180,438) | 676,396 | 9,018,499 |
Institutional 3 Class | ||||
Subscriptions | 228,174 | 2,613,040 | 313,137 | 4,125,712 |
Distributions reinvested | 52,014 | 540,622 | 79,198 | 1,019,983 |
Redemptions | (212,245) | (2,485,804) | (280,170) | (3,706,710) |
Net increase | 67,943 | 667,858 | 112,165 | 1,438,985 |
Class R | ||||
Subscriptions | 68,162 | 804,240 | 196,910 | 2,689,995 |
Distributions reinvested | 33,478 | 359,738 | 66,898 | 891,234 |
Redemptions | (116,575) | (1,414,062) | (319,417) | (4,346,352) |
Net decrease | (14,935) | (250,084) | (55,609) | (765,123) |
Total net increase (decrease) | (3,810,828) | (47,794,809) | 2,129,571 | 26,543,451 |
Columbia Global Value Fund | Semiannual Report 2022 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $12.91 | 0.12 | (1.14) | (1.02) | (0.11) | (0.61) | (0.72) |
Year Ended 2/28/2022 | $12.87 | 0.21 | 1.35 | 1.56 | (0.33) | (1.19) | (1.52) |
Year Ended 2/28/2021 | $11.89 | 0.19 | 1.89 | 2.08 | (0.20) | (0.90) | (1.10) |
Year Ended 2/29/2020 | $13.00 | 0.29 | (0.18) | 0.11 | (0.27) | (0.95) | (1.22) |
Year Ended 2/28/2019 | $14.20 | 0.22 | (0.22) | 0.00(f) | (0.17) | (1.03) | (1.20) |
Year Ended 2/28/2018 | $12.29 | 0.19 | 1.96 | 2.15 | (0.24) | — | (0.24) |
Advisor Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $13.00 | 0.14 | (1.16) | (1.02) | (0.12) | (0.61) | (0.73) |
Year Ended 2/28/2022 | $12.95 | 0.24 | 1.37 | 1.61 | (0.37) | (1.19) | (1.56) |
Year Ended 2/28/2021 | $11.96 | 0.20 | 1.92 | 2.12 | (0.23) | (0.90) | (1.13) |
Year Ended 2/29/2020 | $13.07 | 0.32 | (0.18) | 0.14 | (0.30) | (0.95) | (1.25) |
Year Ended 2/28/2019 | $14.26 | 0.24 | (0.20) | 0.04 | (0.20) | (1.03) | (1.23) |
Year Ended 2/28/2018 | $12.35 | 0.19 | 1.99 | 2.18 | (0.27) | — | (0.27) |
Class C | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $12.67 | 0.08 | (1.13) | (1.05) | (0.06) | (0.61) | (0.67) |
Year Ended 2/28/2022 | $12.66 | 0.11 | 1.32 | 1.43 | (0.23) | (1.19) | (1.42) |
Year Ended 2/28/2021 | $11.70 | 0.06 | 1.91 | 1.97 | (0.11) | (0.90) | (1.01) |
Year Ended 2/29/2020 | $12.81 | 0.19 | (0.18) | 0.01 | (0.17) | (0.95) | (1.12) |
Year Ended 2/28/2019 | $14.04 | 0.16 | (0.27) | (0.11) | (0.09) | (1.03) | (1.12) |
Year Ended 2/28/2018 | $12.16 | 0.09 | 1.93 | 2.02 | (0.14) | — | (0.14) |
Institutional Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $12.95 | 0.14 | (1.16) | (1.02) | (0.12) | (0.61) | (0.73) |
Year Ended 2/28/2022 | $12.90 | 0.24 | 1.37 | 1.61 | (0.37) | (1.19) | (1.56) |
Year Ended 2/28/2021 | $11.92 | 0.21 | 1.90 | 2.11 | (0.23) | (0.90) | (1.13) |
Year Ended 2/29/2020 | $13.03 | 0.32 | (0.18) | 0.14 | (0.30) | (0.95) | (1.25) |
Year Ended 2/28/2019 | $14.22 | 0.25 | (0.21) | 0.04 | (0.20) | (1.03) | (1.23) |
Year Ended 2/28/2018 | $12.31 | 0.22 | 1.96 | 2.18 | (0.27) | — | (0.27) |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $12.91 | 0.15 | (1.15) | (1.00) | (0.13) | (0.61) | (0.74) |
Year Ended 2/28/2022 | $12.87 | 0.25 | 1.36 | 1.61 | (0.38) | (1.19) | (1.57) |
Year Ended 2/28/2021 | $11.89 | 0.19 | 1.93 | 2.12 | (0.24) | (0.90) | (1.14) |
Year Ended 2/29/2020 | $13.00 | 0.32 | (0.17) | 0.15 | (0.31) | (0.95) | (1.26) |
Year Ended 2/28/2019 | $14.19 | 0.25 | (0.21) | 0.04 | (0.20) | (1.03) | (1.23) |
Year Ended 2/28/2018 | $12.29 | 0.22 | 1.96 | 2.18 | (0.28) | — | (0.28) |
16 | Columbia Global Value Fund | Semiannual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $11.17 | (7.71%) | 1.12%(c),(d) | 1.12%(c),(d) | 2.04%(c) | 25% | $623,109 |
Year Ended 2/28/2022 | $12.91 | 12.13% | 1.11%(d) | 1.11%(d),(e) | 1.52% | 48% | $710,822 |
Year Ended 2/28/2021 | $12.87 | 18.84% | 1.15%(d) | 1.15%(d),(e) | 1.61% | 70% | $696,568 |
Year Ended 2/29/2020 | $11.89 | 0.36% | 1.13%(d) | 1.13%(d),(e) | 2.20% | 37% | $570,739 |
Year Ended 2/28/2019 | $13.00 | 0.40% | 1.15%(d) | 1.15%(d),(e) | 1.62% | 33% | $645,363 |
Year Ended 2/28/2018 | $14.20 | 17.59% | 1.15% | 1.15%(e) | 1.40% | 32% | $710,292 |
Advisor Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $11.25 | (7.61%) | 0.87%(c),(d) | 0.87%(c),(d) | 2.28%(c) | 25% | $6,735 |
Year Ended 2/28/2022 | $13.00 | 12.44% | 0.83%(d) | 0.83%(d),(e) | 1.77% | 48% | $7,474 |
Year Ended 2/28/2021 | $12.95 | 19.14% | 0.90%(d) | 0.90%(d),(e) | 1.72% | 70% | $4,937 |
Year Ended 2/29/2020 | $11.96 | 0.61% | 0.88%(d) | 0.88%(d),(e) | 2.44% | 37% | $2,349 |
Year Ended 2/28/2019 | $13.07 | 0.66% | 0.90%(d) | 0.90%(d),(e) | 1.77% | 33% | $1,856 |
Year Ended 2/28/2018 | $14.26 | 17.79% | 0.90% | 0.90%(e) | 1.36% | 32% | $688 |
Class C | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.95 | (8.09%) | 1.86%(c),(d) | 1.86%(c),(d) | 1.28%(c) | 25% | $9,184 |
Year Ended 2/28/2022 | $12.67 | 11.24% | 1.85%(d) | 1.85%(d),(e) | 0.82% | 48% | $11,556 |
Year Ended 2/28/2021 | $12.66 | 18.01% | 1.90%(d) | 1.90%(d),(e) | 0.54% | 70% | $14,480 |
Year Ended 2/29/2020 | $11.70 | (0.39%) | 1.89%(d) | 1.89%(d),(e) | 1.46% | 37% | $3,696 |
Year Ended 2/28/2019 | $12.81 | (0.39%) | 1.89%(d) | 1.89%(d),(e) | 1.17% | 33% | $5,573 |
Year Ended 2/28/2018 | $14.04 | 16.67% | 1.90% | 1.90%(e) | 0.68% | 32% | $19,715 |
Institutional Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $11.20 | (7.64%) | 0.87%(c),(d) | 0.87%(c),(d) | 2.29%(c) | 25% | $137,347 |
Year Ended 2/28/2022 | $12.95 | 12.47% | 0.85%(d) | 0.85%(d),(e) | 1.77% | 48% | $155,962 |
Year Ended 2/28/2021 | $12.90 | 19.11% | 0.90%(d) | 0.90%(d),(e) | 1.78% | 70% | $148,950 |
Year Ended 2/29/2020 | $11.92 | 0.61% | 0.88%(d) | 0.88%(d),(e) | 2.45% | 37% | $88,301 |
Year Ended 2/28/2019 | $13.03 | 0.66% | 0.90%(d) | 0.90%(d),(e) | 1.87% | 33% | $99,972 |
Year Ended 2/28/2018 | $14.22 | 17.84% | 0.90% | 0.90%(e) | 1.64% | 32% | $108,444 |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $11.17 | (7.55%) | 0.78%(c),(d) | 0.78%(c),(d) | 2.36%(c) | 25% | $9,318 |
Year Ended 2/28/2022 | $12.91 | 12.48% | 0.79%(d) | 0.79%(d) | 1.81% | 48% | $72,299 |
Year Ended 2/28/2021 | $12.87 | 19.26% | 0.84%(d) | 0.84%(d) | 1.55% | 70% | $63,366 |
Year Ended 2/29/2020 | $11.89 | 0.68% | 0.81%(d) | 0.81%(d) | 2.48% | 37% | $1,008 |
Year Ended 2/28/2019 | $13.00 | 0.72% | 0.83%(d) | 0.83%(d) | 1.86% | 33% | $626 |
Year Ended 2/28/2018 | $14.19 | 17.90% | 0.83% | 0.83% | 1.65% | 32% | $411 |
Columbia Global Value Fund | Semiannual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $12.45 | 0.14 | (1.11) | (0.97) | (0.13) | (0.61) | (0.74) |
Year Ended 2/28/2022 | $12.46 | 0.25 | 1.32 | 1.57 | (0.39) | (1.19) | (1.58) |
Year Ended 2/28/2021 | $11.55 | 0.19 | 1.87 | 2.06 | (0.25) | (0.90) | (1.15) |
Year Ended 2/29/2020 | $12.66 | 0.32 | (0.16) | 0.16 | (0.32) | (0.95) | (1.27) |
Year Ended 2/28/2019 | $13.85 | 0.25 | (0.20) | 0.05 | (0.21) | (1.03) | (1.24) |
Year Ended 2/28/2018 | $12.00 | 0.17 | 1.97 | 2.14 | (0.29) | — | (0.29) |
Class R | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $12.87 | 0.11 | (1.15) | (1.04) | (0.09) | (0.61) | (0.70) |
Year Ended 2/28/2022 | $12.83 | 0.18 | 1.35 | 1.53 | (0.30) | (1.19) | (1.49) |
Year Ended 2/28/2021 | $11.85 | 0.13 | 1.92 | 2.05 | (0.17) | (0.90) | (1.07) |
Year Ended 2/29/2020 | $12.96 | 0.26 | (0.18) | 0.08 | (0.24) | (0.95) | (1.19) |
Year Ended 2/28/2019 | $14.17 | 0.18 | (0.22) | (0.04) | (0.14) | (1.03) | (1.17) |
Year Ended 2/28/2018 | $12.27 | 0.15 | 1.95 | 2.10 | (0.20) | — | (0.20) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include interest on collateral expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | Rounds to zero. |
18 | Columbia Global Value Fund | Semiannual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.74 | (7.56%) | 0.75%(c),(d) | 0.75%(c),(d) | 2.39%(c) | 25% | $8,891 |
Year Ended 2/28/2022 | $12.45 | 12.59% | 0.70%(d) | 0.70%(d) | 1.90% | 48% | $9,462 |
Year Ended 2/28/2021 | $12.46 | 19.29% | 0.78%(d) | 0.78%(d) | 1.65% | 70% | $8,071 |
Year Ended 2/29/2020 | $11.55 | 0.75% | 0.77%(d) | 0.77%(d) | 2.56% | 37% | $809 |
Year Ended 2/28/2019 | $12.66 | 0.78% | 0.78%(d) | 0.78%(d) | 1.96% | 33% | $578 |
Year Ended 2/28/2018 | $13.85 | 17.96% | 0.78% | 0.78% | 1.26% | 32% | $361 |
Class R | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $11.13 | (7.86%) | 1.36%(c),(d) | 1.36%(c),(d) | 1.78%(c) | 25% | $6,002 |
Year Ended 2/28/2022 | $12.87 | 11.92% | 1.32%(d) | 1.32%(d),(e) | 1.34% | 48% | $7,132 |
Year Ended 2/28/2021 | $12.83 | 18.59% | 1.40%(d) | 1.40%(d),(e) | 1.08% | 70% | $7,825 |
Year Ended 2/29/2020 | $11.85 | 0.11% | 1.38%(d) | 1.38%(d),(e) | 1.96% | 37% | $784 |
Year Ended 2/28/2019 | $12.96 | 0.14% | 1.40%(d) | 1.40%(d),(e) | 1.37% | 33% | $1,187 |
Year Ended 2/28/2018 | $14.17 | 17.25% | 1.40% | 1.40%(e) | 1.13% | 32% | $1,150 |
Columbia Global Value Fund | Semiannual Report 2022 | 19 |
August 31, 2022 (Unaudited)
20 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Columbia Global Value Fund | Semiannual Report 2022 | 21 |
August 31, 2022 (Unaudited)
22 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 2,807,438 |
Columbia Global Value Fund | Semiannual Report 2022 | 23 |
August 31, 2022 (Unaudited)
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Options contracts written, at value | 40,983 |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 1,617,762 |
Total | 1,658,745 |
Amount of realized gain (loss) on derivatives recognized in income | |||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Total ($) |
Equity risk | — | 246,028 | 246,028 |
Foreign exchange risk | 2,459,044 | — | 2,459,044 |
Total | 2,459,044 | 246,028 | 2,705,072 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Total ($) |
Equity risk | — | 54,544 | 54,544 |
Foreign exchange risk | 904,547 | — | 904,547 |
Total | 904,547 | 54,544 | 959,091 |
Derivative instrument | Average value ($)* |
Options contracts — written | (26,841) |
Derivative instrument | Average unrealized appreciation ($)* | Average unrealized depreciation ($)* |
Forward foreign currency exchange contracts | 1,643,063 | (1,010,518) |
* | Based on the ending quarterly outstanding amounts for the six months ended August 31, 2022. |
24 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Morgan Stanley ($) (a) | Morgan Stanley ($) (a) | Total ($) | |
Assets | |||
Forward foreign currency exchange contracts | 2,807,438 | - | 2,807,438 |
Liabilities | |||
Forward foreign currency exchange contracts | 1,617,762 | - | 1,617,762 |
Options contracts written | - | 40,983 | 40,983 |
Total liabilities | 1,617,762 | 40,983 | 1,658,745 |
Total financial and derivative net assets | 1,189,676 | (40,983) | 1,148,693 |
Total collateral received (pledged) (b) | 184,000 | (40,983) | 143,017 |
Net amount (c) | 1,005,676 | - | 1,005,676 |
(a) | Exposure can only be netted across transactions governed under the same master agreement with the same legal entity. |
(b) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(c) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Global Value Fund | Semiannual Report 2022 | 25 |
August 31, 2022 (Unaudited)
26 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Effective rate (%) | |
Class A | 0.13 |
Advisor Class | 0.13 |
Class C | 0.13 |
Institutional Class | 0.13 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.13 |
Columbia Global Value Fund | Semiannual Report 2022 | 27 |
August 31, 2022 (Unaudited)
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 38,490 |
Class C | — | 1.00(b) | 27 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
July 1, 2022 through June 30, 2023 | Prior to July 1, 2022 | |
Class A | 1.15% | 1.15% |
Advisor Class | 0.90 | 0.90 |
Class C | 1.90 | 1.90 |
Institutional Class | 0.90 | 0.90 |
Institutional 2 Class | 0.84 | 0.83 |
Institutional 3 Class | 0.79 | 0.78 |
Class R | 1.40 | 1.40 |
28 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
747,542,000 | 118,948,000 | (63,415,000) | 55,533,000 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(7,307,726) | (45,453,991) | (52,761,717) |
Columbia Global Value Fund | Semiannual Report 2022 | 29 |
August 31, 2022 (Unaudited)
30 | Columbia Global Value Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Columbia Global Value Fund | Semiannual Report 2022 | 31 |
August 31, 2022 (Unaudited)
32 | Columbia Global Value Fund | Semiannual Report 2022 |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
Columbia Global Value Fund | Semiannual Report 2022 | 33 |
(Unaudited)
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
34 | Columbia Global Value Fund | Semiannual Report 2022 |
(Unaudited)
into account the organization and strength of the Fund’s and its service providers’ compliance programs. The Board also reviewed the financial condition of the Investment Manager and its affiliates and each entity’s ability to carry out its responsibilities under the Management Agreement and the Fund’s other service agreements.
Columbia Global Value Fund | Semiannual Report 2022 | 35 |
(Unaudited)
of the Funds. It also took into account the indirect economic benefits flowing to the Investment Manager or its affiliates in connection with managing or distributing the Funds, such as the enhanced ability to offer various other financial products to Ameriprise Financial customers, soft dollar benefits and overall reputational advantages. The Board noted that the fees paid by the Fund should permit the Investment Manager to offer competitive compensation to its personnel, make necessary investments in its business and earn an appropriate profit. After reviewing these and related factors, the Board concluded, within the context of their overall conclusions, that the costs of services provided and the profitability to the Investment Manager and its affiliates from their relationships with the Fund supported the continuation of the Management Agreement.
36 | Columbia Global Value Fund | Semiannual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
August 31, 2022 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended August 31, 2022) | |||||
Inception | 6 Months cumulative | 1 Year | Life | ||
Class A | Excluding sales charges | 03/05/18 | -14.83 | -21.66 | 0.11 |
Including sales charges | -19.70 | -26.20 | -1.20 | ||
Advisor Class | 03/05/18 | -14.73 | -21.46 | 0.36 | |
Class C | Excluding sales charges | 03/05/18 | -15.17 | -22.31 | -0.65 |
Including sales charges | -16.01 | -23.04 | -0.65 | ||
Institutional Class | 03/05/18 | -14.72 | -21.45 | 0.38 | |
Institutional 2 Class | 03/05/18 | -14.70 | -21.38 | 0.46 | |
Institutional 3 Class | 03/05/18 | -14.70 | -21.40 | 0.51 | |
Class R | 03/05/18 | -14.93 | -21.89 | -0.14 | |
MSCI EAFE Index (Net) | -13.97 | -19.80 | 0.70 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 3 |
(Unaudited)
Equity sector breakdown (%) (at August 31, 2022) | |
Communication Services | 5.5 |
Consumer Discretionary | 9.1 |
Consumer Staples | 13.1 |
Energy | 9.2 |
Financials | 14.0 |
Health Care | 13.4 |
Industrials | 13.1 |
Information Technology | 11.6 |
Materials | 7.7 |
Real Estate | 2.1 |
Utilities | 1.2 |
Total | 100.0 |
Country breakdown (%) (at August 31, 2022) | |
Australia | 4.6 |
Austria | 0.5 |
Brazil | 0.7 |
Canada | 5.1 |
China | 0.6 |
Denmark | 1.0 |
Finland | 1.9 |
France | 4.2 |
Germany | 3.8 |
Hong Kong | 1.5 |
Ireland | 1.7 |
Israel | 2.8 |
Japan | 20.6 |
Netherlands | 9.0 |
Norway | 1.9 |
Russian Federation | 0.0 |
Singapore | 2.0 |
South Africa | 0.5 |
South Korea | 2.4 |
Spain | 0.9 |
Sweden | 1.2 |
Switzerland | 5.3 |
Taiwan | 2.9 |
United Kingdom | 14.4 |
United States(a) | 10.5 |
Total | 100.0 |
(a) | Includes investments in Money Market Funds and Exchange-Traded Funds. |
4 | Columbia Overseas Core Fund | Semiannual Report 2022 |
(Unaudited)
March 1, 2022 — August 31, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 851.70 | 1,019.06 | 5.69 | 6.21 | 1.22 |
Advisor Class | 1,000.00 | 1,000.00 | 852.70 | 1,020.32 | 4.53 | 4.94 | 0.97 |
Class C | 1,000.00 | 1,000.00 | 848.30 | 1,015.27 | 9.18 | 10.01 | 1.97 |
Institutional Class | 1,000.00 | 1,000.00 | 852.80 | 1,020.32 | 4.53 | 4.94 | 0.97 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 853.00 | 1,020.67 | 4.20 | 4.58 | 0.90 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 853.00 | 1,020.92 | 3.97 | 4.33 | 0.85 |
Class R | 1,000.00 | 1,000.00 | 850.70 | 1,017.80 | 6.86 | 7.48 | 1.47 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 5 |
August 31, 2022 (Unaudited)
Common Stocks 95.5% | ||
Issuer | Shares | Value ($) |
Australia 4.5% | ||
Ansell Ltd. | 433,396 | 7,835,783 |
Northern Star Resources Ltd. | 2,464,750 | 13,026,804 |
Paladin Energy Ltd.(a) | 8,239,230 | 4,636,749 |
Santos Ltd. | 3,202,378 | 17,095,201 |
Total | 42,594,537 | |
Austria 0.5% | ||
Kontron AG | 319,384 | 4,859,160 |
Brazil 0.7% | ||
JBS SA | 1,107,309 | 6,298,107 |
Canada 5.1% | ||
Alimentation Couche-Tard, Inc. | 456,854 | 19,632,878 |
Cameco Corp.(b) | 517,230 | 15,077,254 |
West Fraser Timber Co., Ltd. | 63,080 | 5,643,507 |
Whitecap Resources, Inc. | 1,018,038 | 7,418,147 |
Total | 47,771,786 | |
China 0.5% | ||
Li Ning Co., Ltd. | 563,500 | 5,132,535 |
Denmark 1.0% | ||
Novo Nordisk A/S, Class B | 87,336 | 9,337,427 |
Finland 1.8% | ||
UPM-Kymmene OYJ | 510,706 | 17,350,869 |
France 4.2% | ||
DBV Technologies SA, ADR(a) | 196,845 | 395,659 |
Eiffage SA | 200,320 | 17,619,138 |
Sanofi | 103,417 | 8,454,323 |
TotalEnergies SE | 207,534 | 10,507,386 |
Worldline SA(a) | 59,851 | 2,564,178 |
Total | 39,540,684 | |
Germany 3.8% | ||
Aroundtown SA | 1,501,150 | 4,378,239 |
Covestro AG | 133,832 | 4,035,293 |
Duerr AG | 203,738 | 4,487,702 |
E.ON SE | 1,271,548 | 10,845,784 |
KION Group AG | 158,346 | 6,327,009 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
TeamViewer AG(a) | 538,066 | 5,384,413 |
Total | 35,458,440 | |
Hong Kong 1.5% | ||
Hong Kong Exchanges and Clearing Ltd. | 210,400 | 8,477,968 |
WH Group Ltd. | 8,048,402 | 5,483,565 |
Total | 13,961,533 | |
Ireland 1.7% | ||
Amarin Corp. PLC, ADR(a) | 133,149 | 157,116 |
Flutter Entertainment PLC(a) | 128,192 | 16,062,328 |
Total | 16,219,444 | |
Israel 2.8% | ||
Bank Hapoalim BM | 1,094,420 | 11,346,344 |
Check Point Software Technologies Ltd.(a) | 121,519 | 14,611,444 |
Total | 25,957,788 | |
Japan 20.5% | ||
Amano Corp. | 381,900 | 7,064,670 |
BayCurrent Consulting, Inc. | 52,800 | 15,516,336 |
COMSYS Holdings Corp. | 515,900 | 9,581,308 |
Denso Corp. | 111,700 | 6,096,669 |
ExaWizards, Inc.(a) | 287,000 | 946,433 |
Invincible Investment Corp. | 23,038 | 7,084,639 |
ITOCHU Corp. | 672,600 | 18,510,437 |
JustSystems Corp. | 130,400 | 3,273,994 |
Kinden Corp. | 396,200 | 4,180,774 |
Koito Manufacturing Co., Ltd. | 234,500 | 8,011,560 |
MatsukiyoCocokara & Co. | 476,100 | 18,890,580 |
Meitec Corp. | 318,900 | 5,606,889 |
Mitsubishi UFJ Financial Group, Inc. | 1,045,100 | 5,417,744 |
Net Protections Holdings, Inc.(a) | 212,300 | 792,346 |
Nihon M&A Center Holdings, Inc. | 604,900 | 7,496,675 |
Nippon Telegraph & Telephone Corp. | 194,700 | 5,277,205 |
ORIX Corp. | 825,600 | 13,570,708 |
Round One Corp. | 725,700 | 10,442,267 |
Ship Healthcare Holdings, Inc. | 609,100 | 11,387,353 |
Takeda Pharmaceutical Co., Ltd. | 779,077 | 21,533,731 |
Takuma Co., Ltd. | 436,800 | 4,388,489 |
6 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Uchida Yoko Co., Ltd. | 123,000 | 4,405,965 |
USS Co., Ltd. | 17,200 | 303,526 |
ValueCommerce Co., Ltd. | 162,500 | 2,967,750 |
Total | 192,748,048 | |
Netherlands 9.0% | ||
ABN AMRO Bank NV | 789,807 | 7,587,590 |
Adyen NV(a) | 3,773 | 5,822,286 |
ASR Nederland NV | 246,256 | 10,050,752 |
ING Groep NV | 1,221,263 | 10,703,686 |
Koninklijke Ahold Delhaize NV | 435,481 | 11,978,696 |
Prosus NV(a) | 199,282 | 12,317,517 |
Shell PLC | 817,313 | 21,632,667 |
Signify NV | 153,347 | 4,359,018 |
Total | 84,452,212 | |
Norway 1.9% | ||
SalMar ASA | 160,132 | 10,589,112 |
Yara International ASA | 171,876 | 7,269,923 |
Total | 17,859,035 | |
Russian Federation —% | ||
Lukoil PJSC(c),(d),(e) | 33,398 | — |
Singapore 1.9% | ||
BW LPG Ltd. | 476,648 | 3,098,353 |
Venture Corp., Ltd. | 1,163,100 | 15,195,723 |
Total | 18,294,076 | |
South Africa 0.5% | ||
Impala Platinum Holdings Ltd. | 430,539 | 4,511,340 |
South Korea 2.4% | ||
Hyundai Home Shopping Network Corp. | 78,061 | 2,907,790 |
Samsung Electronics Co., Ltd. | 259,346 | 11,489,229 |
Youngone Corp. | 239,760 | 7,938,281 |
Total | 22,335,300 | |
Spain 0.9% | ||
ACS Actividades de Construccion y Servicios SA | 312,554 | 6,963,571 |
Tecnicas Reunidas SA(a) | 281,291 | 1,742,750 |
Total | 8,706,321 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Sweden 1.2% | ||
Granges AB | 191,949 | 1,487,924 |
Samhallsbyggnadsbolaget i Norden AB | 4,544,569 | 7,296,620 |
Stillfront Group AB(a) | 1,282,136 | 2,728,524 |
Total | 11,513,068 | |
Switzerland 5.3% | ||
Landis+Gyr Group AG(a) | 130,088 | 7,609,756 |
Nestlé SA, Registered Shares | 93,021 | 10,885,594 |
Roche Holding AG, Genusschein Shares | 40,744 | 13,129,414 |
UBS AG | 1,125,344 | 17,833,019 |
Total | 49,457,783 | |
Taiwan 2.9% | ||
Fubon Financial Holding Co., Ltd. | 7,998,500 | 14,997,578 |
Parade Technologies Ltd. | 300,000 | 8,398,095 |
Tripod Technology Corp. | 1,175,000 | 3,857,873 |
Total | 27,253,546 | |
United Kingdom 14.3% | ||
AstraZeneca PLC, ADR | 501,553 | 31,286,876 |
British American Tobacco PLC | 509,615 | 20,411,477 |
Crest Nicholson Holdings PLC | 1,110,773 | 3,018,765 |
DCC PLC | 216,522 | 12,461,787 |
Intermediate Capital Group PLC | 296,694 | 4,690,068 |
JD Sports Fashion PLC | 7,467,692 | 9,767,974 |
John Wood Group PLC(a) | 1,187,565 | 1,777,962 |
Just Group PLC | 4,096,994 | 3,421,160 |
Liberty Global PLC, Class C(a) | 827,133 | 17,626,204 |
TP Icap Group PLC | 5,177,433 | 9,233,260 |
Vodafone Group PLC | 15,180,653 | 20,324,652 |
Total | 134,020,185 | |
United States 6.6% | ||
ACADIA Pharmaceuticals, Inc.(a) | 31,564 | 518,596 |
Broadcom, Inc. | 16,019 | 7,995,243 |
Burford Capital Ltd. | 905,488 | 8,457,258 |
Insmed, Inc.(a) | 109,807 | 2,703,448 |
Jazz Pharmaceuticals PLC(a) | 75,659 | 11,743,790 |
Livent Corp.(a),(b) | 479,165 | 15,419,530 |
Primo Water Corp. | 1,012,604 | 13,305,617 |
Quotient Ltd.(a) | 410,952 | 79,848 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 7 |
August 31, 2022 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Sage Therapeutics, Inc.(a) | 38,038 | 1,432,511 |
Total | 61,655,841 | |
Total Common Stocks (Cost $1,000,564,636) | 897,289,065 | |
Exchange-Traded Equity Funds 2.2% | ||
Shares | Value ($) | |
United States 2.2% | ||
iShares MSCI EAFE ETF | 332,117 | 20,491,619 |
Total Exchange-Traded Equity Funds (Cost $22,909,261) | 20,491,619 |
Options Purchased Calls 0.1% | |||||
Value ($) | |||||
(Cost $315,995) | 358,190 |
Money Market Funds 1.7% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 2.366%(f),(g) | 15,927,462 | 15,919,499 |
Total Money Market Funds (Cost $15,918,367) | 15,919,499 | |
Total Investments in Securities (Cost $1,039,708,259) | 934,058,373 | |
Other Assets & Liabilities, Net | 5,157,312 | |
Net Assets | $939,215,685 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
28,070,000 AUD | 19,546,090 USD | Morgan Stanley | 09/01/2022 | 339,193 | — |
8,132,000 AUD | 5,515,841 USD | Morgan Stanley | 09/01/2022 | — | (48,480) |
58,244,000 CAD | 44,817,791 USD | Morgan Stanley | 09/01/2022 | 470,130 | — |
11,479,000 CHF | 11,902,165 USD | Morgan Stanley | 09/01/2022 | 158,942 | — |
66,350,000 DKK | 8,897,916 USD | Morgan Stanley | 09/01/2022 | — | (67,392) |
57,496,000 EUR | 57,275,215 USD | Morgan Stanley | 09/01/2022 | — | (505,390) |
4,587,000 GBP | 5,497,388 USD | Morgan Stanley | 09/01/2022 | 168,670 | — |
3,581,958,000 JPY | 26,410,259 USD | Morgan Stanley | 09/01/2022 | 626,865 | — |
24,960,329,000 KRW | 19,186,970 USD | Morgan Stanley | 09/01/2022 | 525,739 | — |
101,267,000 NOK | 10,002,525 USD | Morgan Stanley | 09/01/2022 | — | (187,506) |
25,152,000 NZD | 15,654,454 USD | Morgan Stanley | 09/01/2022 | 265,203 | — |
211,134,000 SEK | 20,349,559 USD | Morgan Stanley | 09/01/2022 | 543,368 | — |
32,020,000 SGD | 23,042,602 USD | Morgan Stanley | 09/01/2022 | 129,439 | — |
785,479,000 TWD | 26,447,104 USD | Morgan Stanley | 09/01/2022 | 640,813 | — |
24,768,322 USD | 36,202,000 AUD | Morgan Stanley | 09/01/2022 | 2,896 | — |
45,124,622 USD | 58,244,000 CAD | Morgan Stanley | 09/01/2022 | — | (776,962) |
11,850,368 USD | 11,479,000 CHF | Morgan Stanley | 09/01/2022 | — | (107,146) |
9,113,852 USD | 66,350,000 DKK | Morgan Stanley | 09/01/2022 | — | (148,544) |
58,732,227 USD | 57,496,000 EUR | Morgan Stanley | 09/01/2022 | — | (951,621) |
5,415,473 USD | 4,587,000 GBP | Morgan Stanley | 09/01/2022 | — | (86,755) |
26,164,968 USD | 3,581,958,000 JPY | Morgan Stanley | 09/01/2022 | — | (381,574) |
18,671,002 USD | 24,960,329,000 KRW | Morgan Stanley | 09/01/2022 | — | (9,771) |
2,766,746 USD | 28,100,000 NOK | Morgan Stanley | 09/01/2022 | 60,827 | — |
7,553,953 USD | 73,167,000 NOK | Morgan Stanley | 09/01/2022 | — | (191,495) |
15,502,184 USD | 25,152,000 NZD | Morgan Stanley | 09/01/2022 | — | (112,932) |
20,059,093 USD | 211,134,000 SEK | Morgan Stanley | 09/01/2022 | — | (252,901) |
22,857,127 USD | 32,020,000 SGD | Morgan Stanley | 09/01/2022 | 56,037 | — |
25,974,835 USD | 785,479,000 TWD | Morgan Stanley | 09/01/2022 | — | (168,543) |
8 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Forward foreign currency exchange contracts (continued) | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
46,117,000 CAD | 35,623,442 USD | Morgan Stanley | 10/20/2022 | 520,325 | — |
2,744,943,000 JPY | 20,133,072 USD | Morgan Stanley | 10/20/2022 | 293,691 | — |
29,536,127,000 KRW | 22,092,170 USD | Morgan Stanley | 10/20/2022 | 77,861 | — |
74,324,000 NOK | 7,679,575 USD | Morgan Stanley | 10/20/2022 | 194,368 | — |
867,640,000 TWD | 28,739,318 USD | Morgan Stanley | 10/20/2022 | 113,098 | — |
14,520,620 USD | 20,840,000 AUD | Morgan Stanley | 10/20/2022 | — | (250,764) |
12,486,605 USD | 11,995,000 CHF | Morgan Stanley | 10/20/2022 | — | (167,599) |
9,622,322 USD | 71,505,000 DKK | Morgan Stanley | 10/20/2022 | 71,229 | — |
44,212,454 USD | 44,230,000 EUR | Morgan Stanley | 10/20/2022 | 382,444 | — |
3,841,867 USD | 3,251,000 GBP | Morgan Stanley | 10/20/2022 | — | (61,546) |
15,464,577 USD | 24,850,000 NZD | Morgan Stanley | 10/20/2022 | — | (261,795) |
15,395,706 USD | 162,744,000 SEK | Morgan Stanley | 10/20/2022 | — | (93,920) |
18,283,386 USD | 25,398,000 SGD | Morgan Stanley | 10/20/2022 | — | (104,249) |
Total | 5,641,138 | (4,936,885) |
Call option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
CBOE Volatility Index | Morgan Stanley | USD | 3,782,194 | 1,462 | 25.00 | 09/21/2022 | 315,995 | 358,190 |
Call option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
Cameco Corp. | Morgan Stanley | USD | (5,337,365) | (1,831) | 34.00 | 9/16/2022 | (66,813) | (52,184) |
Livent Corp. | Morgan Stanley | USD | (5,441,638) | (1,691) | 35.00 | 9/16/2022 | (77,464) | (114,142) |
Livent Corp. | Morgan Stanley | USD | (5,448,074) | (1,693) | 32.50 | 9/16/2022 | (118,208) | (262,415) |
Total | (262,485) | (428,741) |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At August 31, 2022, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(d) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Fund’s Board of Trustees. At August 31, 2022, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Lukoil PJSC | 01/25/2022-02/02/2022 | 33,398 | 2,752,771 | — |
(e) | Valuation based on significant unobservable inputs. |
(f) | The rate shown is the seven-day current annualized yield at August 31, 2022. |
Columbia Overseas Core Fund | Semiannual Report 2022 | 9 |
August 31, 2022 (Unaudited)
(g) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended August 31, 2022 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 2.366% | ||||||||
3,955,509 | 205,478,622 | (193,515,759) | 1,127 | 15,919,499 | (2,964) | 50,665 | 15,927,462 |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | South Korean Won |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
TWD | New Taiwan Dollar |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
10 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | — | 42,594,537 | — | 42,594,537 |
Austria | — | 4,859,160 | — | 4,859,160 |
Brazil | 6,298,107 | — | — | 6,298,107 |
Canada | 47,771,786 | — | — | 47,771,786 |
China | — | 5,132,535 | — | 5,132,535 |
Denmark | — | 9,337,427 | — | 9,337,427 |
Finland | — | 17,350,869 | — | 17,350,869 |
France | 395,659 | 39,145,025 | — | 39,540,684 |
Germany | — | 35,458,440 | — | 35,458,440 |
Hong Kong | — | 13,961,533 | — | 13,961,533 |
Ireland | 157,116 | 16,062,328 | — | 16,219,444 |
Israel | 14,611,444 | 11,346,344 | — | 25,957,788 |
Japan | — | 192,748,048 | — | 192,748,048 |
Netherlands | — | 84,452,212 | — | 84,452,212 |
Norway | — | 17,859,035 | — | 17,859,035 |
Russian Federation | — | — | — | — |
Singapore | — | 18,294,076 | — | 18,294,076 |
South Africa | — | 4,511,340 | — | 4,511,340 |
South Korea | — | 22,335,300 | — | 22,335,300 |
Spain | — | 8,706,321 | — | 8,706,321 |
Sweden | — | 11,513,068 | — | 11,513,068 |
Switzerland | — | 49,457,783 | — | 49,457,783 |
Taiwan | — | 27,253,546 | — | 27,253,546 |
United Kingdom | 48,913,080 | 85,107,105 | — | 134,020,185 |
United States | 61,655,841 | — | — | 61,655,841 |
Total Common Stocks | 179,803,033 | 717,486,032 | — | 897,289,065 |
Exchange-Traded Equity Funds | 20,491,619 | — | — | 20,491,619 |
Options Purchased Calls | 358,190 | — | — | 358,190 |
Money Market Funds | 15,919,499 | — | — | 15,919,499 |
Total Investments in Securities | 216,572,341 | 717,486,032 | — | 934,058,373 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 5,641,138 | — | 5,641,138 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (4,936,885) | — | (4,936,885) |
Options Contracts Written | (428,741) | — | — | (428,741) |
Total | 216,143,600 | 718,190,285 | — | 934,333,885 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 11 |
August 31, 2022 (Unaudited)
See the Portfolio of Investments for all investment classifications not indicated in the table.
12 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,023,473,897) | $917,780,684 |
Affiliated issuers (cost $15,918,367) | 15,919,499 |
Options purchased (cost $315,995) | 358,190 |
Cash | 169,043 |
Unrealized appreciation on forward foreign currency exchange contracts | 5,641,138 |
Receivable for: | |
Investments sold | 1,651,942 |
Capital shares sold | 82,227 |
Dividends | 2,123,204 |
Foreign tax reclaims | 1,546,484 |
Expense reimbursement due from Investment Manager | 1,338 |
Prepaid expenses | 13,331 |
Other assets | 1,428 |
Total assets | 945,288,508 |
Liabilities | |
Option contracts written, at value (premiums received $262,485) | 428,741 |
Foreign currency (cost $133,504) | 134,471 |
Unrealized depreciation on forward foreign currency exchange contracts | 4,936,885 |
Payable for: | |
Investments purchased | 168,915 |
Capital shares purchased | 216,745 |
Foreign capital gains taxes deferred | 881 |
Management services fees | 21,654 |
Distribution and/or service fees | 370 |
Transfer agent fees | 47,236 |
Compensation of board members | 79,160 |
Compensation of chief compliance officer | 89 |
Other expenses | 37,676 |
Total liabilities | 6,072,823 |
Net assets applicable to outstanding capital stock | $939,215,685 |
Represented by | |
Paid in capital | 1,057,884,370 |
Total distributable earnings (loss) | (118,668,685) |
Total - representing net assets applicable to outstanding capital stock | $939,215,685 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 13 |
August 31, 2022 (Unaudited)
Class A | |
Net assets | $46,218,220 |
Shares outstanding | 5,387,341 |
Net asset value per share | $8.58 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.10 |
Advisor Class | |
Net assets | $205,782 |
Shares outstanding | 23,956 |
Net asset value per share | $8.59 |
Class C | |
Net assets | $1,894,436 |
Shares outstanding | 222,291 |
Net asset value per share | $8.52 |
Institutional Class | |
Net assets | $323,601,041 |
Shares outstanding | 37,640,834 |
Net asset value per share | $8.60 |
Institutional 2 Class | |
Net assets | $749,784 |
Shares outstanding | 87,101 |
Net asset value per share | $8.61 |
Institutional 3 Class | |
Net assets | $566,543,723 |
Shares outstanding | 65,790,719 |
Net asset value per share | $8.61 |
Class R | |
Net assets | $2,699 |
Shares outstanding | 315 |
Net asset value per share | $8.57 |
14 | Columbia Overseas Core Fund | Semiannual Report 2022 |
Six Months Ended August 31, 2022 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $22,410,565 |
Dividends — affiliated issuers | 50,665 |
European Union tax reclaim | 192,774 |
Foreign taxes withheld | (3,178,031) |
Total income | 19,475,973 |
Expenses: | |
Management services fees | 4,171,214 |
Distribution and/or service fees | |
Class A | 63,046 |
Class C | 11,187 |
Class R | 8 |
Transfer agent fees | |
Class A | 33,113 |
Advisor Class | 152 |
Class C | 1,464 |
Institutional Class | 219,680 |
Institutional 2 Class | 165 |
Institutional 3 Class | 17,742 |
Class R | 2 |
Compensation of board members | 7,976 |
Custodian fees | 84,287 |
Printing and postage fees | 14,816 |
Registration fees | 65,191 |
Audit fees | 18,221 |
Legal fees | 10,842 |
Interest on collateral | 2,937 |
Compensation of chief compliance officer | 86 |
Other | 24,168 |
Total expenses | 4,746,297 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (213,178) |
Fees waived by transfer agent | |
Institutional 2 Class | (14) |
Total net expenses | 4,533,105 |
Net investment income | 14,942,868 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (8,168,378) |
Investments — affiliated issuers | (2,964) |
Foreign currency translations | (377,949) |
Forward foreign currency exchange contracts | (3,476,141) |
Futures contracts | (477,882) |
Options purchased | 89,113 |
Options contracts written | 708,280 |
Net realized loss | (11,705,921) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (165,136,666) |
Investments — affiliated issuers | 1,127 |
Foreign currency translations | (166,020) |
Forward foreign currency exchange contracts | 1,196,207 |
Options purchased | 42,195 |
Options contracts written | (102,852) |
Foreign capital gains tax | (881) |
Net change in unrealized appreciation (depreciation) | (164,166,890) |
Net realized and unrealized loss | (175,872,811) |
Net decrease in net assets resulting from operations | $(160,929,943) |
Columbia Overseas Core Fund | Semiannual Report 2022 | 15 |
Six Months Ended August 31, 2022 (Unaudited) | Year Ended February 28, 2022 | |
Operations | ||
Net investment income | $14,942,868 | $17,675,646 |
Net realized gain (loss) | (11,705,921) | 41,781,419 |
Net change in unrealized appreciation (depreciation) | (164,166,890) | (49,402,278) |
Net increase (decrease) in net assets resulting from operations | (160,929,943) | 10,054,787 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (711,103) | (4,475,901) |
Advisor Class | (3,199) | (24,634) |
Class C | (30,685) | (210,035) |
Institutional Class | (4,867,701) | (18,273,977) |
Institutional 2 Class | (6,050) | (36,785) |
Institutional 3 Class | (8,588,232) | (52,919,165) |
Class R | (42) | (258) |
Total distributions to shareholders | (14,207,012) | (75,940,755) |
Increase in net assets from capital stock activity | 113,782,429 | 233,287,464 |
Total increase (decrease) in net assets | (61,354,526) | 167,401,496 |
Net assets at beginning of period | 1,000,570,211 | 833,168,715 |
Net assets at end of period | $939,215,685 | $1,000,570,211 |
16 | Columbia Overseas Core Fund | Semiannual Report 2022 |
Six Months Ended | Year Ended | |||
August 31, 2022 (Unaudited) | February 28, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 252,823 | 2,337,101 | 440,480 | 5,026,131 |
Distributions reinvested | 81,687 | 697,607 | 401,739 | 4,394,805 |
Redemptions | (394,210) | (3,619,187) | (653,764) | (7,367,436) |
Net increase (decrease) | (59,700) | (584,479) | 188,455 | 2,053,500 |
Advisor Class | ||||
Subscriptions | 177 | 1,650 | 3,182 | 37,260 |
Distributions reinvested | 341 | 2,921 | 2,074 | 22,784 |
Redemptions | (2,200) | (19,755) | (13,390) | (155,182) |
Net decrease | (1,682) | (15,184) | (8,134) | (95,138) |
Class C | ||||
Subscriptions | 8,477 | 78,269 | 29,678 | 329,924 |
Distributions reinvested | 3,401 | 28,908 | 17,841 | 196,304 |
Redemptions | (51,300) | (471,850) | (141,615) | (1,615,193) |
Net decrease | (39,422) | (364,673) | (94,096) | (1,088,965) |
Institutional Class | ||||
Subscriptions | 14,010,486 | 139,190,712 | 7,846,015 | 85,315,544 |
Distributions reinvested | 568,340 | 4,864,990 | 1,671,172 | 18,258,565 |
Redemptions | (3,803,442) | (35,905,507) | (2,459,012) | (28,436,361) |
Net increase | 10,775,384 | 108,150,195 | 7,058,175 | 75,137,748 |
Institutional 2 Class | ||||
Subscriptions | 44,459 | 394,029 | 3,636 | 41,864 |
Distributions reinvested | 701 | 6,009 | 3,340 | 36,506 |
Redemptions | (2,329) | (22,225) | (2,997) | (34,437) |
Net increase | 42,831 | 377,813 | 3,979 | 43,933 |
Institutional 3 Class | ||||
Subscriptions | 855,967 | 7,950,464 | 14,220,931 | 160,654,936 |
Distributions reinvested | 1,002,123 | 8,588,191 | 4,836,826 | 52,918,883 |
Redemptions | (1,095,004) | (10,319,898) | (4,967,797) | (56,337,433) |
Net increase | 763,086 | 6,218,757 | 14,089,960 | 157,236,386 |
Total net increase | 11,480,497 | 113,782,429 | 21,238,339 | 233,287,464 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.23 | 0.12 | (1.64) | (1.52) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.89 | 0.17 | 0.02(e) | 0.19 | (0.27) | (0.58) | (0.85) |
Year Ended 2/28/2021 | $8.99 | 0.06 | 2.06 | 2.12 | (0.05) | (0.17) | (0.22) |
Year Ended 2/29/2020 | $9.36 | 0.09 | (0.11) | (0.02) | (0.31) | (0.04) | (0.35) |
Year Ended 2/28/2019(h) | $10.00 | 0.25 | (0.81) | (0.56) | (0.08) | — | (0.08) |
Advisor Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.23 | 0.14 | (1.65) | (1.51) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.89 | 0.21 | 0.01(e) | 0.22 | (0.30) | (0.58) | (0.88) |
Year Ended 2/28/2021 | $8.99 | 0.09 | 2.05 | 2.14 | (0.07) | (0.17) | (0.24) |
Year Ended 2/29/2020 | $9.37 | 0.19 | (0.19) | 0.00 | (0.34) | (0.04) | (0.38) |
Year Ended 2/28/2019(h) | $10.00 | 0.28 | (0.81) | (0.53) | (0.10) | — | (0.10) |
Class C | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.20 | 0.09 | (1.64) | (1.55) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.86 | 0.09 | 0.02(e) | 0.11 | (0.19) | (0.58) | (0.77) |
Year Ended 2/28/2021 | $9.00 | (0.01) | 2.04 | 2.03 | — | (0.17) | (0.17) |
Year Ended 2/29/2020 | $9.36 | 0.06 | (0.15) | (0.09) | (0.23) | (0.04) | (0.27) |
Year Ended 2/28/2019(h) | $10.00 | 0.18 | (0.80) | (0.62) | (0.02) | — | (0.02) |
Institutional Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.24 | 0.14 | (1.65) | (1.51) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.89 | 0.19 | 0.04(e) | 0.23 | (0.30) | (0.58) | (0.88) |
Year Ended 2/28/2021 | $9.00 | 0.13 | 2.00 | 2.13 | (0.07) | (0.17) | (0.24) |
Year Ended 2/29/2020 | $9.37 | 0.19 | (0.18) | 0.01 | (0.34) | (0.04) | (0.38) |
Year Ended 2/28/2019(h) | $10.00 | 0.38 | (0.91) | (0.53) | (0.10) | — | (0.10) |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.25 | 0.13 | (1.64) | (1.51) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.90 | 0.20 | 0.04(e) | 0.24 | (0.31) | (0.58) | (0.89) |
Year Ended 2/28/2021 | $9.00 | 0.10 | 2.05 | 2.15 | (0.08) | (0.17) | (0.25) |
Year Ended 2/29/2020 | $9.38 | 0.19 | (0.18) | 0.01 | (0.35) | (0.04) | (0.39) |
Year Ended 2/28/2019(h) | $10.00 | 0.28 | (0.81) | (0.53) | (0.09) | — | (0.09) |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.25 | 0.14 | (1.65) | (1.51) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.91 | 0.21 | 0.03(e) | 0.24 | (0.32) | (0.58) | (0.90) |
Year Ended 2/28/2021 | $9.00 | 0.12 | 2.05 | 2.17 | (0.09) | (0.17) | (0.26) |
Year Ended 2/29/2020 | $9.38 | 0.21 | (0.19) | 0.02 | (0.36) | (0.04) | (0.40) |
Year Ended 2/28/2019(h) | $10.00 | 0.29 | (0.81) | (0.52) | (0.10) | — | (0.10) |
18 | Columbia Overseas Core Fund | Semiannual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $8.58 | (14.83%) | 1.26%(c),(d) | 1.22%(c),(d) | 2.67%(c) | 22% | $46,218 |
Year Ended 2/28/2022 | $10.23 | 1.38% | 1.27%(d),(f) | 1.22%(d),(f),(g) | 1.47% | 43% | $55,723 |
Year Ended 2/28/2021 | $10.89 | 23.80% | 1.33%(d),(f) | 1.24%(d),(f),(g) | 0.59% | 39% | $57,243 |
Year Ended 2/29/2020 | $8.99 | (0.46%) | 1.40% | 1.26% | 0.94% | 48% | $431 |
Year Ended 2/28/2019(h) | $9.36 | (5.55%) | 1.65%(c),(f) | 1.28%(c),(f) | 2.64%(c) | 71% | $30 |
Advisor Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $8.59 | (14.73%) | 1.01%(c),(d) | 0.97%(c),(d) | 2.92%(c) | 22% | $206 |
Year Ended 2/28/2022 | $10.23 | 1.64% | 1.02%(d),(f) | 0.97%(d),(f),(g) | 1.83% | 43% | $262 |
Year Ended 2/28/2021 | $10.89 | 24.07% | 1.08%(d),(f) | 0.99%(d),(f),(g) | 0.91% | 39% | $368 |
Year Ended 2/29/2020 | $8.99 | (0.30%) | 1.15% | 1.01% | 1.98% | 48% | $19 |
Year Ended 2/28/2019(h) | $9.37 | (5.22%) | 1.40%(c),(f) | 1.03%(c),(f) | 2.95%(c) | 71% | $20 |
Class C | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $8.52 | (15.17%) | 2.01%(c),(d) | 1.97%(c),(d) | 1.94%(c) | 22% | $1,894 |
Year Ended 2/28/2022 | $10.20 | 0.60% | 2.02%(d),(f) | 1.97%(d),(f),(g) | 0.82% | 43% | $2,670 |
Year Ended 2/28/2021 | $10.86 | 22.80% | 2.07%(d),(f) | 1.99%(d),(f),(g) | (0.14%) | 39% | $3,863 |
Year Ended 2/29/2020 | $9.00 | (1.17%) | 2.15% | 2.01% | 0.63% | 48% | $49 |
Year Ended 2/28/2019(h) | $9.36 | (6.22%) | 2.40%(c),(f) | 2.03%(c),(f) | 1.89%(c) | 71% | $25 |
Institutional Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $8.60 | (14.72%) | 1.01%(c),(d) | 0.97%(c),(d) | 2.97%(c) | 22% | $323,601 |
Year Ended 2/28/2022 | $10.24 | 1.73% | 1.02%(d),(f) | 0.97%(d),(f),(g) | 1.68% | 43% | $275,013 |
Year Ended 2/28/2021 | $10.89 | 23.93% | 1.10%(d),(f) | 1.00%(d),(f),(g) | 1.40% | 39% | $215,765 |
Year Ended 2/29/2020 | $9.00 | (0.19%) | 1.15% | 1.02% | 1.98% | 48% | $131,881 |
Year Ended 2/28/2019(h) | $9.37 | (5.22%) | 1.37%(c),(f) | 1.03%(c),(f) | 4.47%(c) | 71% | $120,114 |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $8.61 | (14.70%) | 0.96%(c),(d) | 0.90%(c),(d) | 2.92%(c) | 22% | $750 |
Year Ended 2/28/2022 | $10.25 | 1.81% | 0.95%(d),(f) | 0.90%(d),(f) | 1.77% | 43% | $454 |
Year Ended 2/28/2021 | $10.90 | 24.16% | 0.99%(d),(f) | 0.90%(d),(f) | 1.02% | 39% | $439 |
Year Ended 2/29/2020 | $9.00 | (0.18%) | 1.04% | 0.91% | 1.99% | 48% | $47 |
Year Ended 2/28/2019(h) | $9.38 | (5.17%) | 1.25%(c),(f) | 0.93%(c),(f) | 3.02%(c) | 71% | $29 |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $8.61 | (14.70%) | 0.89%(c),(d) | 0.85%(c),(d) | 3.04%(c) | 22% | $566,544 |
Year Ended 2/28/2022 | $10.25 | 1.78% | 0.89%(d),(f) | 0.84%(d),(f) | 1.85% | 43% | $666,445 |
Year Ended 2/28/2021 | $10.91 | 24.34% | 0.94%(d),(f) | 0.84%(d),(f) | 1.21% | 39% | $555,487 |
Year Ended 2/29/2020 | $9.00 | (0.11%) | 0.97% | 0.85% | 2.18% | 48% | $119,513 |
Year Ended 2/28/2019(h) | $9.38 | (5.11%) | 1.19%(c),(f) | 0.87%(c),(f) | 3.14%(c) | 71% | $132,187 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 19 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $10.23 | 0.11 | (1.64) | (1.53) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.88 | 0.15 | 0.02(e) | 0.17 | (0.24) | (0.58) | (0.82) |
Year Ended 2/28/2021 | $8.99 | 0.20 | 1.88 | 2.08 | (0.02) | (0.17) | (0.19) |
Year Ended 2/29/2020 | $9.36 | 0.18 | (0.22) | (0.04) | (0.29) | (0.04) | (0.33) |
Year Ended 2/28/2019(h) | $10.00 | 0.26 | (0.84) | (0.58) | (0.06) | — | (0.06) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Annualized. |
(d) | Ratios include interest on collateral expense which is less than 0.01%. |
(e) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(f) | Ratios include interfund lending expense which is less than 0.01%. |
(g) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(h) | The Fund commenced operations on March 5, 2018. Per share data and total return reflect activity from that date. |
20 | Columbia Overseas Core Fund | Semiannual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class R | |||||||
Six Months Ended 8/31/2022 (Unaudited) | $8.57 | (14.93%) | 1.51%(c),(d) | 1.47%(c),(d) | 2.42%(c) | 22% | $3 |
Year Ended 2/28/2022 | $10.23 | 1.18% | 1.51%(d),(f) | 1.47%(d),(f),(g) | 1.24% | 43% | $3 |
Year Ended 2/28/2021 | $10.88 | 23.43% | 1.59%(d),(f) | 1.48%(d),(f),(g) | 2.33% | 39% | $3 |
Year Ended 2/29/2020 | $8.99 | (0.73%) | 1.65% | 1.52% | 1.88% | 48% | $19 |
Year Ended 2/28/2019(h) | $9.36 | (5.77%) | 1.90%(c),(f) | 1.53%(c),(f) | 2.91%(c) | 71% | $64 |
Columbia Overseas Core Fund | Semiannual Report 2022 | 21 |
August 31, 2022 (Unaudited)
22 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Columbia Overseas Core Fund | Semiannual Report 2022 | 23 |
August 31, 2022 (Unaudited)
24 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Columbia Overseas Core Fund | Semiannual Report 2022 | 25 |
August 31, 2022 (Unaudited)
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Investments, at value — Options Purchased | 358,190 |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 5,641,138 |
Total | 5,999,328 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Options contracts written, at value | 428,741 |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 4,936,885 |
Total | 5,365,626 |
Amount of realized gain (loss) on derivatives recognized in income | |||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | (477,882) | 708,280 | 89,113 | 319,511 |
Foreign exchange risk | (3,476,141) | — | — | — | (3,476,141) |
Total | (3,476,141) | (477,882) | 708,280 | 89,113 | (3,156,630) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Total ($) |
Equity risk | — | (102,852) | 42,195 | (60,657) |
Foreign exchange risk | 1,196,207 | — | — | 1,196,207 |
Total | 1,196,207 | (102,852) | 42,195 | 1,135,550 |
26 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 217,228 |
Derivative instrument | Average value ($) |
Options contracts — purchased | 179,095** |
Options contracts — written | (312,172)** |
Derivative instrument | Average unrealized appreciation ($) | Average unrealized depreciation ($) |
Forward foreign currency exchange contracts | 4,175,921** | (3,512,229)** |
* | Based on the ending daily outstanding amounts for the six months ended August 31, 2022. |
** | Based on the ending quarterly outstanding amounts for the six months ended August 31, 2022. |
Morgan Stanley ($)(a) | Morgan Stanley ($)(a) | Total ($) | |
Assets | |||
Forward foreign currency exchange contracts | 5,641,138 | - | 5,641,138 |
Options purchased calls | - | 358,190 | 358,190 |
Total assets | 5,641,138 | 358,190 | 5,999,328 |
Liabilities | |||
Forward foreign currency exchange contracts | 4,936,885 | - | 4,936,885 |
Options contracts written | - | 428,741 | 428,741 |
Total liabilities | 4,936,885 | 428,741 | 5,365,626 |
Total financial and derivative net assets | 704,253 | (70,551) | 633,702 |
Total collateral received (pledged) (b) | 704,253 | (70,551) | 633,702 |
Net amount (c) | - | - | - |
(a) | Exposure can only be netted across transactions governed under the same master agreement with the same legal entity. |
(b) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(c) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Overseas Core Fund | Semiannual Report 2022 | 27 |
August 31, 2022 (Unaudited)
28 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Columbia Overseas Core Fund | Semiannual Report 2022 | 29 |
August 31, 2022 (Unaudited)
Effective rate (%) | |
Class A | 0.13 |
Advisor Class | 0.13 |
Class C | 0.13 |
Institutional Class | 0.13 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.13 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 3,960 |
Class C | — | 1.00(b) | 19 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
30 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
July 1, 2022 through June 30, 2023 | Prior to July 1, 2022 | |
Class A | 1.22% | 1.24% |
Advisor Class | 0.97 | 0.99 |
Class C | 1.97 | 1.99 |
Institutional Class | 0.97 | 0.99 |
Institutional 2 Class | 0.90 | 0.90 |
Institutional 3 Class | 0.85 | 0.85 |
Class R | 1.47 | 1.49 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
1,039,446,000 | 76,418,000 | (181,530,000) | (105,112,000) |
Late year ordinary losses ($) | Post-October capital losses ($) |
3,263,934 | — |
Columbia Overseas Core Fund | Semiannual Report 2022 | 31 |
August 31, 2022 (Unaudited)
32 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Columbia Overseas Core Fund | Semiannual Report 2022 | 33 |
August 31, 2022 (Unaudited)
34 | Columbia Overseas Core Fund | Semiannual Report 2022 |
August 31, 2022 (Unaudited)
Columbia Overseas Core Fund | Semiannual Report 2022 | 35 |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
36 | Columbia Overseas Core Fund | Semiannual Report 2022 |
(Unaudited)
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Overseas Core Fund | Semiannual Report 2022 | 37 |
(Unaudited)
into account the organization and strength of the Fund’s and its service providers’ compliance programs. The Board also reviewed the financial condition of the Investment Manager and its affiliates and each entity’s ability to carry out its responsibilities under the Management Agreement and the Fund’s other service agreements.
38 | Columbia Overseas Core Fund | Semiannual Report 2022 |
(Unaudited)
of the Funds. It also took into account the indirect economic benefits flowing to the Investment Manager or its affiliates in connection with managing or distributing the Funds, such as the enhanced ability to offer various other financial products to Ameriprise Financial customers, soft dollar benefits and overall reputational advantages. The Board noted that the fees paid by the Fund should permit the Investment Manager to offer competitive compensation to its personnel, make necessary investments in its business and earn an appropriate profit. After reviewing these and related factors, the Board concluded, within the context of their overall conclusions, that the costs of services provided and the profitability to the Investment Manager and its affiliates from their relationships with the Fund supported the continuation of the Management Agreement.
Columbia Overseas Core Fund | Semiannual Report 2022 | 39 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
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.
(c) | 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. |
(d) | 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 II |
| |
By (Signature and Title) | /s/ Daniel J. Beckman |
| ||
|
|
| Daniel J. Beckman, President and Principal Executive Officer |
|
Date |
| October 24, 2022 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman | ||
|
| Daniel J. Beckman, President and Principal Executive Officer | |
Date |
| October 24, 2022 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| October 24, 2022 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| October 24, 2022 |
|