Columbia Balanced Fund (CBALX) NPORT-P Multi-Manager International Equity Strategies Fund (Nov 2023 report)

 

MULTI-MANAGER INTERNATIONAL EQUITY STRATEGIES FUND

Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value

PORTFOLIO OF INVESTMENTS

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

(Percentages represent value of investments compared to net assets)

Investments in securities

Common Stocks 97.2%
Issuer	Shares		Value ($)
Australia 0.1%
Aurizon Holdings Ltd.		25,745		60,054
CAR Group Ltd.		10,433		191,715
Estia Health		285,413		579,665
GrainCorp Ltd.		89,318		450,044
Rio Tinto Ltd.		1,299		106,655
Rio Tinto PLC, ADR		9,614		664,231
Treasury Wine Estates Ltd.		123,741		875,111
Total				2,927,475
Austria 0.2%
Erste Group Bank AG		14,525		587,412
Erste Group Bank AG		1,942		78,250
OMV AG		63,123		2,695,274
Wienerberger AG		40,580		1,157,790
Total				4,518,726
Belgium 0.8%
Anheuser-Busch InBev SA/NV		250,315		15,753,057
Proximus SADP		143,898		1,381,040
Total				17,134,097
Brazil 2.4%
Banco Bradesco SA, ADR		1,555,274		5,179,063
MercadoLibre, Inc.(a)		22,255		36,063,337
Petroleo Brasileiro SA, ADR		342,230		5,225,852
Petroleo Brasileiro SA, ADR		331,762		4,827,137
Total				51,295,389
Canada 2.5%
AbCellera Biologics, Inc.(a)		289,836		1,365,127
Alimentation Couche-Tard, Inc.		159,545		9,100,396
Canadian Pacific Kansas City Ltd.		144,613		10,411,028
Constellation Software, Inc.		5,242		12,312,780
Lumine Group, Inc.(a),(b)		299,902		5,149,576
Shopify, Inc., Class A(a)		108,715		7,916,626
Topicus.com, Inc.(a)		110,186		7,418,544
Total				53,674,077

Common Stocks (continued)
Issuer	Shares		Value ($)
China 2.9%
Agricultural Bank of China Ltd., Class H		3,074,000		1,134,716
Alibaba Group Holding Ltd.(a)		508,532		4,727,015
Alibaba Group Holding Ltd., ADR(a)		12,840		961,459
ANE Cayman, Inc.(a)		89,000		72,761
Baidu, Inc. Class A(a)		29,450		437,012
Bank of Chongqing Co., Ltd., Class H		176,500		89,205
Beijing Capital International Airport Co., Ltd., Class H(a)		4,556,000		1,650,046
China Communications Services Corp., Ltd., Class H		290,000		123,561
China Construction Bank Corp., Class H		2,032,000		1,174,890
China Merchants Bank Co., Ltd., Class H		881,500		3,076,450
China Minsheng Banking Corp. Ltd., Class H		553,500		184,987
Industrial & Commercial Bank of China Ltd., Class H		805,000		383,041
Kingboard Chemical Holdings Ltd.		84,000		202,225
Kweichow Moutai Co., Ltd., Class A		18,100		4,546,702
Meituan, Class B(a)		301,770		3,493,442
NetEase, Inc., ADR		3,834		435,082
Ping An Insurance Group Co. of China Ltd., Class H		930,000		4,265,585
Postal Savings Bank of China Co., Ltd.		788,000		349,573
Silergy Corp.		381,000		5,196,616
Tencent Holdings Ltd.		415,200		17,296,885
Tencent Holdings Ltd., ADR		17,956		747,598
Tencent Music Entertainment Group, ADR(a)		904,826		7,700,069
Topsports International Holdings Ltd.		213,000		173,111
WuXi Biologics Cayman, Inc.(a)		798,000		4,430,563
Total				62,852,594
Denmark 2.5%
Ambu A/S(a)		232,944		3,169,890
AP Moller - Maersk A/S, Class A		736		1,141,778
AP Moller - Maersk A/S, Class B		223		352,118
Chr. Hansen Holding A/S		67,423		5,399,117
Demant A/S(a)		172,340		7,309,069
DSV A/S		66,790		10,048,324
Novo Nordisk A/S		125,512		12,822,890
Novo Nordisk A/S, ADR		10,743		1,094,067
Novozymes AS, Class B		169,922		8,811,460

2 Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

Common Stocks (continued)
Issuer	Shares		Value ($)
Pandora A/S		25,014		3,376,835
Total				53,525,548
Finland 0.6%
KONE OYJ, Class B		182,269		8,113,809
Nordea Bank Abp		374,826		4,190,335
Total				12,304,144
France 10.1%
Air Liquide SA		44,299		8,398,213
Alstom SA		1,108,784		13,739,033
AXA SA		398,963		12,439,819
BNP Paribas SA		169,188		10,636,349
Carrefour SA		496,485		9,413,238
Christian Dior SE		438		322,644
Credit Agricole SA		66,932		877,184
Danone SA		524,855		33,749,673
Dassault Systemes SE		343,262		16,099,184
Edenred SE		220,629		12,017,025
Engie SA		742,015		12,876,262
Kering SA		47,515		20,439,506
LVMH Moet Hennessy Louis Vuitton SE		9,324		7,135,462
Nexans SA		46,809		3,685,625
Orange SA		609,272		7,506,786
Sanofi SA		141,304		13,178,709
Sanofi SA, ADR		688		32,164
Sartorius Stedim Biotech		23,204		5,232,352
Societe Generale SA		33,655		846,981
TotalEnergies SE		164,611		11,219,757
TotalEnergies SE, ADR		108,836		7,406,290
Valeo SE		383,455		5,567,908
VINCI SA		68,261		8,351,267
Total				221,171,431
Germany 10.7%
Allianz SE, Registered Shares		108,262		27,221,591
Bayer AG, Registered Shares		191,553		6,556,682
Bayerische Motoren Werke AG		139,061		14,509,945
Beiersdorf AG		16,006		2,243,636
BioNTech SE, ADR(a)		41,271		4,144,021
Continental AG		5,345		414,809

Common Stocks (continued)
Issuer	Shares		Value ($)
Deutsche Boerse AG		77,524		14,737,967
Deutsche Lufthansa AG, Registered Shares(a)		25,012		217,580
Deutsche Telekom AG, Registered Shares		1,091,469		26,160,622
DHL Group		71,586		3,363,759
E.ON SE		301,974		3,925,079
Evonik Industries AG		43,634		815,980
Fresenius SE & Co. KGaA		54,215		1,721,589
Henkel AG & Co. KGaA		37,852		2,644,816
Mercedes-Benz Group AG, Registered Shares		224,938		14,625,323
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered Shares		22,622		9,635,604
Rational AG		14,220		9,119,605
RWE AG		243,712		10,446,526
SAP SE		381,512		60,687,350
SAP SE, ADR		29,425		4,682,106
Scout24 SE		230,583		16,067,072
Volkswagen AG		403		52,296
Total				233,993,958
Hong Kong 1.2%
AIA Group Ltd.		2,194,000		18,862,108
ASMPT Ltd.		116,500		1,192,795
BYD Electronic International Co., Ltd.		564,000		2,574,306
China Taiping Insurance Holdings Co., Ltd.		275,000		249,817
CK Hutchison Holdings Ltd.		245,500		1,231,680
Jardine Matheson Holdings Ltd.		33,100		1,281,949
Lenovo Group Ltd.		528,000		651,615
WH Group Ltd.		350,000		224,796
Total				26,269,066
India 1.2%
HDFC Bank Ltd., ADR		232,679		13,970,047
Reliance Industries Ltd., GDR(b)		219,300		12,600,429
Total				26,570,476
Ireland 2.8%
CRH PLC		290,322		18,360,412
Kingspan Group PLC		190,757		15,158,476
Ryanair Holdings PLC, ADR(a)		240,242		28,401,409
Total				61,920,297

Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023 3

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

Common Stocks (continued)
Issuer	Shares		Value ($)
Israel 0.3%
Bank Leumi Le-Israel BM		80,660		604,591
Bezeq Israeli Telecommunication Corp., Ltd.		92,275		119,403
Check Point Software Technologies Ltd.(a)		28,507		4,162,022
ICL Group Ltd.		12,214		61,436
Israel Chemicals Ltd.		15,793		79,552
Israel Discount Bank Ltd.		51,355		247,291
Mizrahi Tefahot Bank Ltd.		7,805		278,225
Monday.com Ltd.(a)		884		158,979
NiCE Ltd.(a)		2,297		436,018
Wix.com Ltd.(a)		2,541		257,912
Total				6,405,429
Italy 3.9%
Assicurazioni Generali SpA		288,262		5,969,819
Azimut Holding SpA		35,172		855,382
Banca Mediolanum SpA		21,469		191,031
Enel SpA		2,965,572		20,957,220
ENI SpA		833,106		13,814,974
ENI SpA, ADR		76,442		2,533,288
FinecoBank Banca Fineco SpA		642,850		8,674,839
Intesa Sanpaolo SpA		1,012,972		2,919,990
Mediobanca Banca di Credito Finanziario SpA		23,525		276,153
Poste Italiane SpA		25,199		271,591
Technoprobe SpA(a)		547,342		4,692,758
UniCredit SpA		852,282		23,245,837
Total				84,402,882
Japan 15.9%
AGC, Inc.		43,000		1,562,232
Air Water, Inc.		1,100		14,434
Aisin Corp.		6,300		232,680
Alfresa Holdings Corp.		20,900		336,576
Asahi Group Holdings Ltd.		10,200		377,640
Asahi Yukizai Corp.		2,000		57,276
Astellas Pharma, Inc.		166,000		2,023,186
Awa Bank Ltd. (The)		2,300		38,846
Brother Industries Ltd.		50,700		856,003
Canon, Inc.		255,700		6,587,999
Chubu Electric Power Co., Inc.		282,500		3,490,129

Common Stocks (continued)
Issuer	Shares		Value ($)
Dai Nippon Toryo Co., Ltd.		6,400		42,472
Dai-ichi Life Holdings, Inc.		238,900		5,008,208
Daiwa Securities Group, Inc.		89,100		576,100
Denso Corp.		627,792		9,852,406
Disco Corp.		11,800		2,560,058
Dowa Holdings		10,300		365,930
East Japan Railway Co.		40,900		2,209,133
Electric Power Development Co., Ltd.		176,800		2,747,171
ENEOS Holdings, Inc.		137,100		539,621
FANUC Corp.		933,050		25,906,940
Fast Retailing Co., Ltd.		7,600		1,930,753
FCC Co., Ltd.		28,300		349,852
FUJIFILM Holdings Corp.		90,600		5,305,579
Fujitsu Ltd.		34,200		4,869,592
Hitachi Ltd.		46,000		3,198,439
Hokkaido Electric Power Co., Inc.		43,200		182,921
Honda Motor Co., Ltd.		1,406,700		14,389,044
Honda Motor Co., Ltd. ADR		26,379		808,780
Idemitsu Kosan Co., Ltd.		9,000		245,504
Inpex Corp.		1,039,000		14,334,497
ITOCHU ENEX Co., Ltd.		41,600		429,370
Japan Exchange Group, Inc.		8,800		179,628
Japan Petroleum Exploration Co., Ltd.		4,700		179,631
Japan Post Holdings Co., Ltd.		302,300		2,670,915
Japan Post Insurance Co., Ltd.		78,800		1,481,183
JFE Holdings, Inc.		57,100		843,434
Kajima Corp.		48,000		758,825
Kansai Electric Power Co., Inc. (The)		32,200		429,950
KDDI Corp.		72,000		2,249,140
Keyence Corp.		24,500		10,491,286
Kirin Holdings Co., Ltd.		310,300		4,386,568
Kissei Pharmaceutical Co., Ltd.		15,700		324,630
Kyocera Corp.		90,100		4,989,265
Kyocera Corp., ADR		14,888		821,818
Lasertec Corp.		15,600		3,484,050
Macnica Holdings, Inc.		8,700		430,656
Mazda Motor Corp.		28,200		303,647
Mebuki Financial Group, Inc.		330,300		996,553
Megmilk Snow Brand Co., Ltd.		37,500		549,032

4 Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

Common Stocks (continued)
Issuer	Shares		Value ($)
Mitsubishi Corp.		139,600		6,509,304
Mitsubishi Electric Corp.		466,100		6,313,769
Mitsubishi Heavy Industries Ltd.		16,500		926,963
Mitsubishi Motors Corp.		128,900		423,379
Mitsubishi Pencil Co., Ltd.		28,900		368,457
Mitsui & Co., Ltd.		151,300		5,517,461
Mitsui OSK Lines Ltd.		9,200		252,961
Mixi, Inc.		29,500		481,760
MonotaRO Co., Ltd		546,080		5,488,705
MS&AD Insurance Group Holdings, Inc.		135,500		5,101,763
Murata Manufacturing Co., Ltd.		905,100		17,588,112
NEC Corp.		10,600		590,800
NGK Insulators Ltd.		66,800		815,581
Nidec Corp.		110,544		4,191,642
Nihon M&A Center Holdings, Inc.		1,016,300		4,702,734
Nintendo Co., Ltd.		161,750		7,539,560
Nippon Sanso Holdings Corp.		18,800		494,138
Nippon Steel Corp.		133,000		3,114,319
Nippon Telegraph & Telephone Corp.		4,365,000		5,108,124
Nissan Motor Co., Ltd.		102,900		408,445
Nitto Denko Corp.		34,700		2,465,977
Nomura Holdings, Inc.		205,800		842,790
Obic Co., Ltd.		3,200		489,583
Okumura Corp.		48,500		1,480,885
ORIX Corp.		125,400		2,290,937
Osaka Gas Co., Ltd.		86,300		1,681,844
Otsuka Corp.		1,900		77,409
Otsuka Holdings Co., Ltd.		16,500		636,495
Panasonic Holdings Corp.		319,000		3,287,012
Press Kogyo Co., Ltd.		149,800		629,126
Recruit Holdings Co., Ltd.		165,800		6,127,044
Ricoh Co., Ltd.		104,200		851,469
Rohm Co., Ltd.		14,400		275,136
San-Ai Obbli Co., Ltd.		38,500		420,511
Sanshin Electronics Co., Ltd.		4,100		63,553
SCSK Corp.		15,000		275,825
Sega Sammy Holdings, Inc.		53,200		772,307
Seikitokyu Kogyo Co., Ltd.		91,700		1,032,962
Seiko Epson Corp.		176,800		2,625,961

Common Stocks (continued)
Issuer	Shares		Value ($)
Seven & I Holdings Co., Ltd.		98,500		3,782,128
Shikoku Electric Power Co., Inc.		86,700		599,844
Shimadzu Corp.		4,000		103,765
Shimano, Inc.		47,833		7,324,108
Shiseido Co., Ltd.		214,947		5,758,119
SMC Corp.		17,988		9,060,630
Socionext, Inc.		1,000		89,411
SoftBank Corp.		2,400		29,167
Sojitz Corp.		139,600		3,113,645
Sompo Holdings, Inc.		77,500		3,555,189
Sony Group Corp.		150,223		12,917,831
Starzen Co., Ltd.		2,300		38,195
Subaru Corp.		121,800		2,172,825
Sumco Corp.		329,500		4,929,935
Sumiseki Holdings, Inc.		74,400		388,072
Sumitomo Corp.		25,800		540,932
Sumitomo Forestry Co., Ltd.		2,600		66,743
Sumitomo Mitsui Financial Group, Inc.		101,900		5,013,220
Suntory Beverage & Food Ltd.		44,100		1,388,510
Suzuken Co., Ltd.		64,600		2,202,174
Suzuki Motor Corp.		2,400		98,075
Taisho Pharmaceutical Holdings Co., Ltd.		4,800		282,514
Takara Standard Co., Ltd.		1,400		16,815
Takeda Pharmaceutical Co., Ltd.		454,200		12,875,632
Terumo Corp.		4,200		134,095
Tokai Rika Co., Ltd.		4,600		77,187
Tokio Marine Holdings, Inc.		9,200		227,812
Tokyo Electric Power Co. Holdings, Inc.(a)		419,600		1,792,266
Tokyo Electron Ltd.		60,300		9,687,294
Tokyo Gas Co., Ltd.		160,200		3,714,260
Tokyo Steel Manufacturing Co., Ltd.		120,800		1,467,673
TOPPAN Holdings, Inc.		11,400		266,958
Toray Industries, Inc.		143,400		743,496
Tosoh Corp.		6,600		87,805
Toyo Seikan Group Holdings Ltd.		32,300		501,901
Toyoda Gosei Co., Ltd.		3,600		72,232
Toyota Tsusho Corp.		10,600		587,402
Trend Micro, Inc.		3,500		177,915
Tsubakimoto Chain Co.		6,200		158,403

Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023 5

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

Common Stocks (continued)
Issuer	Shares		Value ($)
Wakita & Co., Ltd.		4,400		44,204
Yamaichi Electronics Co., Ltd.		6,800		87,027
Yamazen Corp.		87,200		708,290
Yuasa Trading Co., Ltd.		14,000		419,776
Total				346,567,860
Luxembourg 0.1%
ArcelorMittal SA		14,513		365,503
ArcelorMittal, Registered Shares		104,800		2,639,912
Total				3,005,415
Netherlands 8.4%
Adyen NV(a)		9,090		10,628,532
Akzo Nobel NV		226,465		17,432,721
ArcelorMittal SA		229,643		5,773,468
ASML Holding NV		42,988		29,297,468
ASML Holding NV		9,231		6,311,789
EXOR NV		87,265		8,502,670
IMCD NV		74,909		11,561,232
ING Groep NV		931,045		13,080,239
Koninklijke Philips NV		726,739		14,913,587
Prosus NV		184,099		6,086,521
Shell PLC		447,210		14,455,999
Shell PLC		758,706		24,981,760
Stellantis NV		337,067		7,323,312
Stellantis NV		147,135		3,197,889
Stellantis NV		405,143		8,775,397
Wolters Kluwer NV, ADR		2,199		302,352
Total				182,624,936
Norway 0.4%
Aker Carbon Capture ASA(a)		3,549,096		3,326,123
Equinor ASA		52,687		1,683,312
Equinor ASA, ADR		96,750		3,083,422
Telenor ASA		379		4,079
Yara International ASA		45,981		1,559,917
Total				9,656,853
Panama 0.3%
Copa Holdings SA, Class A		60,443		5,599,440

Common Stocks (continued)
Issuer	Shares		Value ($)
Russian Federation —%
Gazprom PJSC(a),(c),(d),(e),(f)		1,247,200		0
Lukoil PJSC(c),(d),(e),(f)		31,251		—
MMC Norilsk Nickel PJSC(a),(c),(d),(f)		20,201		—
MMC Norilsk Nickel PJSC, ADR(a),(c),(d),(f)		5		—
Rosneft Oil Co. PJSC(c),(d),(e),(f)		563,548		0
Sberbank of Russia PJSC(c),(d),(e),(f),(g)		436,630		—
Total				0
Singapore 0.4%
United Overseas Bank Ltd.		356,200		7,269,784
Yangzijiang Shipbuilding Holdings Ltd.		1,939,500		2,102,956
Total				9,372,740
South Africa 0.4%
Discovery Ltd.		1,143,241		8,068,260
South Korea 3.3%
Coupang, Inc.(a)		386,920		5,912,138
Hana Financial Group, Inc.		44,584		1,434,560
Samsung Electronics Co., Ltd.		616,750		34,777,137
Samsung Electronics Co., Ltd. GDR		14,600		20,343,216
SK Hynix, Inc.		95,900		9,950,725
Total				72,417,776
Spain 2.5%
Aena SME SA		73,987		12,724,030
Amadeus IT Group SA, Class A		314,833		21,615,403
Banco Bilbao Vizcaya Argentaria SA		282,661		2,631,365
Banco Bilbao Vizcaya Argentaria SA, ADR		37,847		351,599
Banco Santander SA		780,667		3,236,046
Banco Santander SA, ADR		86,717		356,407
Iberdrola SA		690,782		8,537,367
Mapfre SA		150,458		332,005
Repsol SA		317,486		4,875,106
Repsol SA, ADR		4,279		65,490
Total				54,724,818
Sweden 2.0%
ASSA ABLOY AB, Class B		181,891		4,660,117
Atlas Copco AB, Class B		1,325,240		17,503,552
Epiroc AB, Class B		663,535		10,449,051
Essity AB, Class B		117,642		2,943,091

6 Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

Common Stocks (continued)
Issuer	Shares		Value ($)
H & M Hennes & Mauritz AB		191,402		3,065,560
Investor AB, Class B		15,912		329,938
MIPS AB		81,084		2,345,349
Sandvik AB		42,730		844,454
Swedbank AB, Class A		39,473		723,550
Total				42,864,662
Switzerland 3.1%
Cie Financiere Richemont SA, Class A, Registered Shares		151,776		18,982,609
Nestlé SA, Registered Shares		134,703		15,327,677
Novartis AG, Registered Shares		125,640		12,263,505
Swatch Group AG (The), Registered Shares		8,846		442,891
Swiss Re AG		116,463		13,754,370
Temenos AG, Registered Shares		2,935		249,064
UBS AG		157,985		4,464,277
Wizz Air Holdings PLC(a)		100,392		2,390,139
Zurich Insurance Group AG		1,151		576,670
Total				68,451,202
Taiwan 1.4%
Sea Ltd. ADR(a)		93,308		3,379,616
Taiwan Semiconductor Manufacturing Co., Ltd.		1,455,400		26,622,350
Total				30,001,966
Turkey 0.1%
Turkiye Garanti Bankasi AS		619,004		1,158,679
Turkiye Is Bankasi AS		1,687,416		1,255,305
Total				2,413,984
United Kingdom 14.7%
Anglo American PLC		146,766		3,971,920
AstraZeneca PLC		137,664		17,718,238
Barclays Bank PLC		11,246,552		20,108,669
Barclays Bank PLC, ADR		236,383		1,706,685
BP PLC		4,713,676		28,657,607
BP PLC, ADR		332,003		12,048,389
British American Tobacco PLC		387,170		12,319,754
BT Group PLC		242,957		377,651
Compass Group PLC		311,338		7,881,972
Croda International PLC		49,755		2,822,812
Diageo PLC		464,842		16,270,098
Experian PLC		326,313		11,996,461

Common Stocks (continued)
Issuer	Shares		Value ($)
GSK PLC		1,033,262		18,565,095
GSK PLC, ADR		35,238		1,268,216
Kingfisher PLC		1,422,150		3,947,581
Legal & General Group PLC		2,825,282		8,210,835
NatWest Group PLC		2,253,245		5,927,864
Oxford Nanopore Technologies PLC(a)		973,427		2,379,156
Prudential PLC		1,654,369		18,094,495
Reckitt Benckiser Group PLC		321,629		21,956,630
RELX PLC		233,229		8,975,311
RELX PLC		271,606		10,462,745
Rio Tinto PLC		424,412		29,007,570
Rolls-Royce Holdings PLC(a)		10,067,978		34,356,691
Segro PLC		394,024		4,051,842
Unilever PLC		171,857		8,198,743
Vodafone Group PLC		4,132,412		3,715,735
Vodafone Group PLC, ADR		478,441		4,334,676
Total				319,333,441
United States 2.0%
Roche Holding AG, Genusschein Shares		138,250		37,192,173
Spotify Technology SA(a)		32,699		6,052,912
Tenaris SA		16,274		280,772
Tenaris SA, ADR		25,228		874,655
Total				44,400,512
Total Common Stocks (Cost $1,864,098,948)				2,118,469,454
Exchange-Traded Equity Funds 0.2%
	Shares		Value ($)
United States 0.2%
iShares MSCI EAFE ETF		26,934		1,950,560
iShares MSCI Eurozone ETF		15,083		688,539
Vanguard FTSE Developed Markets ETF		14,440		663,663
Total				3,302,762
Total Exchange-Traded Equity Funds (Cost $3,267,090)				3,302,762
Preferred Stocks 0.6%
Issuer	Shares		Value ($)
Brazil 0.2%
Petroleo Brasileiro SA		783,100		5,662,382

Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023 7

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

Preferred Stocks (continued)
Issuer	Shares		Value ($)
Germany 0.4%
BMW AG		2,878		273,494
Volkswagen AG		67,423		7,826,084
Total				8,099,578
Total Preferred Stocks (Cost $13,780,664)				13,761,960
Warrants —%
Issuer	Shares		Value ($)
Canada —%
Constellation Software, Inc.(a),(c),(f)		5,743		0
Total Warrants (Cost $—)				0

Money Market Funds 0.8%
	Shares		Value ($)
Columbia Short-Term Cash Fund, 5.605%(h),(i)		17,591,891		17,588,373
Total Money Market Funds (Cost $17,585,662)				17,588,373
Total Investments in Securities (Cost $1,898,732,364)				2,153,122,549
Other Assets & Liabilities, Net				26,177,073
Net Assets			$	2,179,299,622

Notes to Portfolio of Investments

(a) Non-income producing investment.

(b) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At November 30, 2023, the total value of these securities amounted to $17,750,005, which represents 0.81% of total net assets.

(c) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At November 30, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets.

(d) Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At November 30, 2023, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows:

Security	Acquisition Dates		Shares		Cost ($)		Value ($)
Gazprom PJSC		11/11/2020-06/10/2021		1,247,200		3,820,620		—
Lukoil PJSC		03/30/2020-12/29/2021		31,251		2,094,074		—
MMC Norilsk Nickel PJSC		08/07/2019-11/22/2021		20,201		4,978,804		—
MMC Norilsk Nickel PJSC, ADR		08/07/2019-11/22/2021		5		123		—
Rosneft Oil Co. PJSC		03/31/2020-03/16/2021		563,548		3,458,257		—
Sberbank of Russia PJSC		03/29/2021-04/08/2021		436,630		1,642,454		—
						15,994,332		—

(e) As a result of sanctions and restricted cross-border payments, certain income and/or principal has not been recognized by the Fund. The Fund will continue to monitor the net realizable value and record the income when it is considered collectible.

(f) Valuation based on significant unobservable inputs.

(g) On May 25, 2022, the Office of Foreign Assets Control (OFAC) license permitting the holding of the Sberbank position expired, and the position is now considered blocked property. As such the security has been segregated on the Fund’s books and records and cannot be sold or transferred at this time.

(h) The rate shown is the seven-day current annualized yield at November 30, 2023.

8 Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager International Equity Strategies Fund, November 30, 2023 (Unaudited)

Notes to Portfolio of Investments (continued)

(i) 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 November 30, 2023 are as follows:

Affiliated issuers	Beginning of period($)		Purchases($)	Sales($)	Net change in unrealized appreciation (depreciation)($)	End of period($)	Realized gain (loss)($)	Dividends($)	End of period shares
Columbia Short-Term Cash Fund, 5.605%		35,781,258	112,174,353	(130,363,255)	(3,983)	17,588,373	8,413	471,447	17,591,891

Abbreviation Legend

ADR	American Depositary Receipt
GDR	Global Depositary Receipt

Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

Multi-Manager International Equity Strategies Fund  |  First Quarter Report 2023 9

You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.

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