Columbia Adaptive Risk Allocation Fund
Third Quarter Report
February 29, 2024 (Unaudited)
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
Portfolio of InvestmentsColumbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
Alternative Strategies Funds 6.0% | ||
Shares | Value ($) | |
Columbia Commodity Strategy Fund, Institutional 3 Class(a) | 18,054,154 | 170,611,754 |
Total Alternative Strategies Funds (Cost $183,655,759) | 170,611,754 | |
Common Stocks 5.0% | ||
Issuer | Shares | Value ($) |
Real Estate 5.0% | ||
Diversified REITs 0.1% | ||
American Assets Trust, Inc. | 9,000 | 194,130 |
Empire State Realty Trust, Inc., Class A | 152,300 | 1,518,431 |
Federal Realty Investment Trust | 12,744 | 1,285,232 |
Total | 2,997,793 | |
Health Care REITs 0.6% | ||
CareTrust REIT, Inc. | 16,200 | 365,472 |
Healthcare Realty Trust, Inc. | 67,100 | 924,638 |
Healthpeak Properties, Inc. | 179,997 | 3,014,950 |
Medical Properties Trust, Inc. | 103,900 | 437,419 |
National Health Investors, Inc. | 7,000 | 402,290 |
Omega Healthcare Investors, Inc. | 101,600 | 3,161,792 |
Physicians Realty Trust | 36,000 | 404,280 |
Ventas, Inc. | 68,200 | 2,884,178 |
Welltower, Inc.(b) | 42,480 | 3,914,957 |
Total | 15,509,976 | |
Hotel & Resort REITs 0.2% | ||
Apple Hospitality REIT, Inc. | 29,300 | 471,437 |
DiamondRock Hospitality Co. | 32,000 | 300,800 |
Park Hotels & Resorts, Inc. | 73,100 | 1,213,460 |
RLJ Lodging Trust | 26,300 | 312,181 |
Ryman Hospitality Properties, Inc. | 8,200 | 971,536 |
Service Properties Trust | 25,200 | 171,360 |
Sunstone Hotel Investors, Inc. | 267,900 | 2,997,801 |
Xenia Hotels & Resorts, Inc. | 16,000 | 245,440 |
Total | 6,684,015 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Industrial REITs 0.9% | ||
Americold Realty Trust, Inc. | 37,600 | 951,280 |
EastGroup Properties, Inc. | 6,400 | 1,124,416 |
First Industrial Realty Trust, Inc. | 47,835 | 2,535,255 |
Innovative Industrial Properties, Inc. | 4,500 | 440,955 |
LXP Industrial Trust | 42,200 | 365,452 |
Prologis, Inc.(b) | 131,327 | 17,501,949 |
Rexford Industrial Realty, Inc. | 22,000 | 1,119,360 |
Total | 24,038,667 | |
Office REITs 0.2% | ||
Alexandria Real Estate Equities, Inc.(b) | 24,624 | 3,071,352 |
COPT Defense Properties | 19,200 | 465,216 |
Cousins Properties, Inc. | 21,400 | 488,134 |
Easterly Government Properties, Inc. | 26,900 | 317,420 |
Highwoods Properties, Inc. | 51,700 | 1,264,065 |
Hudson Pacific Properties, Inc. | 25,400 | 161,036 |
Piedmont Office Realty Trust, Inc. | 20,600 | 129,162 |
Total | 5,896,385 | |
Residential REITs 0.9% | ||
Apartment Income REIT Corp. | 22,100 | 670,072 |
AvalonBay Communities, Inc.(b) | 36,680 | 6,493,461 |
Centerspace | 2,638 | 146,647 |
Elme Communities | 12,600 | 162,288 |
Equity LifeStyle Properties, Inc. | 1,200 | 80,784 |
Equity Residential | 102,600 | 6,177,546 |
Essex Property Trust, Inc.(b) | 9,000 | 2,082,600 |
Independence Realty Trust, Inc. | 42,200 | 617,808 |
Invitation Homes, Inc. | 134,220 | 4,572,875 |
Sun Communities, Inc. | 30,074 | 4,022,698 |
UDR, Inc. | 47,754 | 1,695,267 |
Veris Residential, Inc. | 11,100 | 162,060 |
Total | 26,884,106 |
2
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Retail REITs 0.8% | ||
Brixmor Property Group, Inc. | 140,678 | 3,180,729 |
Kimco Realty Corp. | 198,400 | 3,920,384 |
Macerich Co. (The) | 29,700 | 487,377 |
Realty Income Corp.(b) | 111,044 | 5,786,503 |
Simon Property Group, Inc.(b) | 55,427 | 8,210,956 |
SITE Centers Corp. | 33,064 | 449,009 |
Total | 22,034,958 | |
Specialized REITs 1.3% | ||
CubeSmart | 31,400 | 1,369,354 |
Digital Realty Trust, Inc. | 20,100 | 2,950,881 |
EPR Properties | 18,700 | 768,196 |
Equinix, Inc.(b) | 17,080 | 15,181,046 |
Extra Space Storage, Inc.(b) | 35,825 | 5,050,250 |
Four Corners Property Trust, Inc. | 21,900 | 529,542 |
Iron Mountain, Inc. | 43,500 | 3,420,840 |
Lamar Advertising Co., Class A | 12,431 | 1,374,247 |
Outfront Media, Inc. | 23,700 | 340,569 |
Public Storage(b) | 19,000 | 5,393,530 |
SBA Communications Corp. | 5,300 | 1,108,919 |
VICI Properties, Inc. | 26,700 | 799,131 |
Total | 38,286,505 | |
Total Real Estate | 142,332,405 | |
Total Common Stocks (Cost $137,714,933) | 142,332,405 |
Foreign Government Obligations(c),(d) 11.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Belgium 0.3% | ||||
Kingdom of Belgium Government Bond(e) | ||||
06/22/2031 | 1.000% | EUR | 4,000,000 | 3,820,546 |
03/28/2035 | 5.000% | EUR | 4,000,000 | 5,131,495 |
Total | 8,952,041 | |||
Canada 0.3% | ||||
Canadian Government Bond | ||||
06/01/2033 | 2.750% | CAD | 12,000,000 | 8,325,230 |
China 2.6% | ||||
China Development Bank | ||||
07/18/2032 | 2.960% | CNY | 110,000,000 | 15,813,141 |
Foreign Government Obligations(c),(d) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
China Government Bond | ||||
11/21/2029 | 3.130% | CNY | 38,350,000 | 5,569,963 |
05/21/2030 | 2.680% | CNY | 52,200,000 | 7,396,981 |
05/15/2032 | 2.760% | CNY | 110,000,000 | 15,710,864 |
05/25/2033 | 2.670% | CNY | 146,000,000 | 20,764,564 |
04/15/2053 | 3.190% | CNY | 63,000,000 | 10,036,221 |
Total | 75,291,734 | |||
France 1.4% | ||||
French Republic Government Bond OAT(e),(f) | ||||
11/25/2030 | 0.000% | EUR | 12,178,000 | 10,985,970 |
French Republic Government Bond OAT(e) | ||||
05/25/2033 | 3.000% | EUR | 20,300,000 | 22,210,253 |
05/25/2036 | 1.250% | EUR | 7,807,000 | 6,926,609 |
Total | 40,122,832 | |||
Italy 0.9% | ||||
Italy Buoni Poliennali Del Tesoro(e) | ||||
05/01/2033 | 4.400% | EUR | 16,553,000 | 18,851,246 |
02/01/2037 | 4.000% | EUR | 7,350,000 | 7,970,500 |
Total | 26,821,746 | |||
Japan 4.0% | ||||
Japan Government 10-Year Bond | ||||
06/20/2031 | 0.100% | JPY | 2,812,450,000 | 18,240,197 |
Japan Government 20-Year Bond | ||||
06/20/2041 | 0.400% | JPY | 1,417,800,000 | 8,132,745 |
09/20/2041 | 0.500% | JPY | 1,391,000,000 | 8,084,016 |
03/20/2042 | 0.800% | JPY | 1,325,400,000 | 8,056,562 |
03/20/2043 | 1.100% | JPY | 2,830,000,000 | 17,937,868 |
Japan Government 30-Year Bond | ||||
06/20/2050 | 0.600% | JPY | 1,068,800,000 | 5,540,213 |
06/20/2051 | 0.700% | JPY | 1,028,650,000 | 5,397,000 |
09/20/2051 | 0.700% | JPY | 1,022,300,000 | 5,345,919 |
12/20/2051 | 0.700% | JPY | 1,015,450,000 | 5,285,972 |
03/20/2052 | 1.000% | JPY | 968,200,000 | 5,459,417 |
03/20/2053 | 1.400% | JPY | 2,292,000,000 | 14,202,737 |
Japan Government 40-Year Bond | ||||
03/20/2063 | 1.300% | JPY | 1,933,000,000 | 10,951,812 |
Total | 112,634,458 | |||
New Zealand 0.3% | ||||
New Zealand Government Bond(e) | ||||
04/14/2033 | 3.500% | NZD | 15,000,000 | 8,318,742 |
South Korea 0.8% | ||||
Korea Treasury Bond | ||||
06/10/2033 | 3.250% | KRW | 30,000,000,000 | 22,221,643 |
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
3
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Foreign Government Obligations(c),(d) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Spain 0.7% | ||||
Spain Government Bond(e) | ||||
04/30/2033 | 3.150% | EUR | 14,660,000 | 15,785,550 |
07/30/2041 | 4.700% | EUR | 2,073,000 | 2,542,214 |
Total | 18,327,764 | |||
Sweden 0.2% | ||||
Sweden Government Bond | ||||
03/30/2039 | 3.500% | SEK | 64,000,000 | 6,824,372 |
Total Foreign Government Obligations (Cost $377,681,355) | 327,840,562 | |||
Inflation-Indexed Bonds(c) 13.1% | ||||
Australia 0.5% | ||||
Australia Government Bond(e) | ||||
11/21/2027 | 0.750% | AUD | 4,885,421 | 3,121,250 |
08/21/2035 | 2.000% | AUD | 3,934,874 | 2,634,112 |
08/21/2040 | 1.250% | AUD | 2,412,953 | 1,434,082 |
Australia Government Index-Linked Bond(e) | ||||
09/20/2025 | 3.000% | AUD | 11,619,323 | 7,772,277 |
Total | 14,961,721 | |||
Canada 0.3% | ||||
Canadian Government Real Return Bond | ||||
12/01/2031 | 4.000% | CAD | 1,656,060 | 1,424,633 |
12/01/2036 | 3.000% | CAD | 4,016,233 | 3,358,123 |
12/01/2041 | 2.000% | CAD | 3,582,496 | 2,706,770 |
Total | 7,489,526 | |||
France 1.4% | ||||
France Government Bond OAT(e) | ||||
07/25/2030 | 0.700% | EUR | 10,278,766 | 11,249,998 |
07/25/2032 | 3.150% | EUR | 10,243,635 | 13,391,506 |
French Republic Government Bond OAT(e) | ||||
07/25/2036 | 0.100% | EUR | 8,558,207 | 8,549,060 |
07/25/2040 | 1.800% | EUR | 5,832,142 | 7,259,162 |
Total | 40,449,726 | |||
Germany 0.8% | ||||
Bundesrepublik Deutschland Bundesobligation Inflation-Linked Bond(e) | ||||
04/15/2030 | 0.500% | EUR | 21,379,550 | 23,250,364 |
Italy 0.8% | ||||
Italy Buoni Poliennali Del Tesoro(e) | ||||
09/15/2026 | 3.100% | EUR | 2,602,073 | 2,950,134 |
05/15/2028 | 1.300% | EUR | 9,524,069 | 10,263,829 |
09/15/2035 | 2.350% | EUR | 4,656,457 | 5,335,792 |
09/15/2041 | 2.550% | EUR | 3,550,862 | 4,124,336 |
Total | 22,674,091 |
Inflation-Indexed Bonds(c) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Japan 0.6% | ||||
Japanese Government CPI-Linked Bond | ||||
03/10/2029 | 0.100% | JPY | 1,740,683,730 | 12,230,343 |
03/10/2033 | 0.005% | JPY | 531,486,800 | 3,759,656 |
Total | 15,989,999 | |||
New Zealand 0.1% | ||||
New Zealand Government Inflation-Linked Bond(e) | ||||
09/20/2030 | 3.000% | NZD | 5,967,277 | 3,759,375 |
Spain 0.1% | ||||
Spain Government Inflation-Linked Bond(e) | ||||
11/30/2033 | 0.700% | EUR | 2,580,454 | 2,676,853 |
Sweden 0.1% | ||||
Sweden Inflation-Linked Bond(e) | ||||
06/01/2032 | 0.125% | SEK | 22,601,415 | 2,026,679 |
United Kingdom 3.3% | ||||
United Kingdom Gilt Inflation-Linked Bond(e) | ||||
03/22/2029 | 0.125% | GBP | 15,747,796 | 19,575,013 |
03/22/2034 | 0.750% | GBP | 13,127,888 | 16,813,900 |
11/22/2037 | 1.125% | GBP | 10,014,549 | 13,123,750 |
03/22/2044 | 0.125% | GBP | 11,018,773 | 11,299,798 |
11/22/2047 | 0.750% | GBP | 6,019,728 | 6,842,937 |
03/22/2050 | 0.500% | GBP | 6,349,236 | 6,662,089 |
03/22/2052 | 0.250% | GBP | 3,314,777 | 3,190,433 |
11/22/2056 | 0.125% | GBP | 7,868,079 | 7,023,706 |
11/22/2065 | 0.125% | GBP | 6,694,324 | 5,655,013 |
03/22/2068 | 0.125% | GBP | 3,925,083 | 3,278,890 |
Total | 93,465,529 | |||
United States 5.1% | ||||
U.S. Treasury Inflation-Indexed Bond | ||||
07/15/2027 | 0.375% | 17,079,208 | 16,250,307 | |
01/15/2028 | 0.500% | 19,594,933 | 18,537,557 | |
01/15/2029 | 0.875% | 21,798,730 | 20,764,880 | |
07/15/2029 | 0.250% | 12,607,084 | 11,599,852 | |
07/15/2030 | 0.125% | 19,051,474 | 17,104,084 | |
04/15/2032 | 3.375% | 19,528,095 | 21,603,926 | |
02/15/2042 | 0.750% | 15,033,176 | 12,000,082 | |
02/15/2043 | 0.625% | 4,334,783 | 3,324,066 | |
02/15/2045 | 0.750% | 11,480,078 | 8,793,974 | |
02/15/2048 | 1.000% | 9,171,422 | 7,218,225 | |
02/15/2050 | 0.250% | 10,439,800 | 6,579,447 | |
02/15/2053 | 1.500% | 3,921,334 | 3,426,354 | |
Total | 147,202,754 | |||
Total Inflation-Indexed Bonds (Cost $458,489,041) | 373,946,617 | |||
4
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Residential Mortgage-Backed Securities - Agency 4.6% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Government National Mortgage Association TBA(g) | ||||
03/20/2054 | 3.000% | 15,250,000 | 13,368,504 | |
03/20/2054 | 3.500% | 12,650,000 | 11,440,729 | |
03/20/2054 | 4.000% | 8,520,000 | 7,928,713 | |
Uniform Mortgage-Backed Security TBA(g) | ||||
03/18/2039 | 2.500% | 9,148,328 | 8,293,313 | |
03/18/2039- 03/13/2054 | 3.000% | 39,700,000 | 34,322,665 | |
03/13/2054 | 3.500% | 24,700,000 | 21,972,174 | |
03/13/2054 | 4.000% | 20,440,000 | 18,804,292 | |
03/13/2054 | 4.500% | 15,330,000 | 14,510,267 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $131,772,938) | 130,640,657 | |||
U.S. Treasury Obligations 20.5% | ||||
U.S. Treasury | ||||
10/31/2026 | 1.125% | 43,400,000 | 39,778,812 | |
11/30/2028 | 1.500% | 34,742,000 | 30,629,959 | |
04/30/2029 | 2.875% | 19,089,000 | 17,863,128 | |
05/15/2029 | 2.375% | 28,507,000 | 26,008,183 | |
08/15/2029 | 1.625% | 10,483,500 | 9,172,244 | |
05/31/2030 | 3.750% | 180,600,000 | 175,365,423 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
06/30/2030 | 3.750% | 38,850,000 | 37,714,852 | |
08/15/2030 | 0.625% | 26,810,000 | 21,345,368 | |
02/15/2031 | 1.125% | 24,922,000 | 20,323,112 | |
08/15/2031 | 1.250% | 31,458,000 | 25,471,149 | |
11/15/2031 | 1.375% | 26,522,000 | 21,532,549 | |
05/15/2033 | 3.375% | 173,400,000 | 161,803,875 | |
Total U.S. Treasury Obligations (Cost $634,687,694) | 587,008,654 |
Money Market Funds 38.3% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.557%(a),(h) | 1,092,926,975 | 1,092,708,389 |
Total Money Market Funds (Cost $1,092,617,075) | 1,092,708,389 | |
Total Investments in Securities (Cost: $3,016,618,795) | 2,825,089,038 | |
Other Assets & Liabilities, Net | 29,138,747 | |
Net Assets | 2,854,227,785 |
At February 29, 2024, securities and/or cash totaling $165,487,726 were pledged as collateral.
Investments in derivatives
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
60,215,000 HKD | 7,706,933 USD | Barclays | 03/06/2024 | 15,661 | — |
648,569,000 SEK | 61,880,120 USD | Barclays | 03/06/2024 | — | (689,842 ) |
5,282,000 SGD | 3,942,583 USD | Barclays | 03/06/2024 | 16,692 | — |
31,079,515 USD | 28,664,000 EUR | Barclays | 03/06/2024 | — | (96,865 ) |
1,472,318 USD | 1,169,000 GBP | Barclays | 03/06/2024 | 3,330 | — |
7,693,930 USD | 60,215,000 HKD | Barclays | 03/06/2024 | — | (2,658 ) |
75,342,067 USD | 778,108,000 SEK | Barclays | 03/06/2024 | — | (274,976 ) |
60,215,000 HKD | 7,704,364 USD | Barclays | 04/24/2024 | 1,482 | — |
778,108,000 SEK | 75,491,182 USD | Barclays | 04/24/2024 | 265,829 | — |
2,399,700 USD | 356,900,000 JPY | Barclays | 04/24/2024 | 1,040 | — |
97,085,000 CHF | 112,761,695 USD | Citi | 03/06/2024 | 2,956,004 | — |
53,911,000 DKK | 7,825,306 USD | Citi | 03/06/2024 | 7,315 | — |
20,731,000 NZD | 12,620,023 USD | Citi | 03/06/2024 | — | (2,060 ) |
109,187,344 USD | 95,932,000 CHF | Citi | 03/06/2024 | — | (685,726 ) |
7,841,294 USD | 53,911,000 DKK | Citi | 03/06/2024 | — | (23,304 ) |
12,641,337 USD | 20,731,000 NZD | Citi | 03/06/2024 | — | (19,254 ) |
719,772 USD | 13,870,000 ZAR | Citi | 03/06/2024 | 3,252 | — |
95,932,000 CHF | 109,763,270 USD | Citi | 04/24/2024 | 658,231 | — |
53,911,000 DKK | 7,861,202 USD | Citi | 04/24/2024 | 22,498 | — |
20,731,000 NZD | 12,641,650 USD | Citi | 04/24/2024 | 19,228 | — |
13,870,000 ZAR | 716,734 USD | Citi | 04/24/2024 | — | (3,187 ) |
109,067,265 GBP | 138,124,966 USD | Goldman Sachs International | 03/06/2024 | 447,612 | — |
564,810,000 CNY | 79,503,830 USD | HSBC | 03/06/2024 | 918,621 | — |
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
5
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Forward foreign currency exchange contracts (continued) | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
27,597,940,414 JPY | 187,404,528 USD | HSBC | 03/06/2024 | 3,260,196 | — |
29,232,000,000 KRW | 21,979,774 USD | HSBC | 03/06/2024 | 28,676 | — |
79,455,581 USD | 564,810,000 CNY | HSBC | 03/06/2024 | — | (870,372 ) |
988,161 USD | 920,000 EUR | HSBC | 03/06/2024 | 6,258 | — |
188,933,237 USD | 28,453,345,414 JPY | HSBC | 03/06/2024 | 918,695 | — |
21,872,054 USD | 29,232,000,000 KRW | HSBC | 03/06/2024 | 79,044 | — |
3,925,019 USD | 5,282,000 SGD | HSBC | 03/06/2024 | 872 | — |
564,810,000 CNY | 79,433,233 USD | HSBC | 04/24/2024 | — | (92,272 ) |
28,453,345,414 JPY | 190,378,138 USD | HSBC | 04/24/2024 | — | (1,017,444 ) |
29,232,000,000 KRW | 21,916,329 USD | HSBC | 04/24/2024 | — | (39,037 ) |
5,282,000 SGD | 3,933,457 USD | HSBC | 04/24/2024 | — | (1,264 ) |
2,577,000 CAD | 1,899,355 USD | JPMorgan | 03/06/2024 | 465 | — |
2,930,000 EUR | 3,162,923 USD | JPMorgan | 03/06/2024 | — | (4,087 ) |
855,405,000 JPY | 5,746,281 USD | JPMorgan | 03/06/2024 | 38,682 | — |
5,287,080 USD | 4,220,000 GBP | JPMorgan | 03/06/2024 | 39,893 | — |
333,924,296 EUR | 361,360,384 USD | Morgan Stanley | 03/06/2024 | 424,730 | — |
2,489,000 MXN | 145,482 USD | Morgan Stanley | 03/06/2024 | — | (502 ) |
129,539,000 SEK | 12,536,194 USD | Morgan Stanley | 03/06/2024 | 39,065 | — |
333,299,501 USD | 307,270,296 EUR | Morgan Stanley | 03/06/2024 | — | (1,173,906 ) |
144,582 USD | 2,489,000 MXN | Morgan Stanley | 03/06/2024 | 1,402 | — |
13,870,000 ZAR | 734,132 USD | Morgan Stanley | 03/06/2024 | 11,108 | — |
307,270,296 EUR | 333,960,132 USD | Morgan Stanley | 04/24/2024 | 1,139,082 | — |
144,357 USD | 2,489,000 MXN | Morgan Stanley | 04/24/2024 | 446 | — |
33,853,000 GBP | 42,864,669 USD | State Street | 03/06/2024 | 131,485 | — |
175,853,909 USD | 138,882,265 GBP | State Street | 03/06/2024 | — | (540,603 ) |
105,029,265 GBP | 133,026,391 USD | State Street | 04/24/2024 | 405,833 | — |
2,377,381 USD | 2,195,000 EUR | State Street | 04/24/2024 | 142 | — |
42,877,025 USD | 33,853,000 GBP | State Street | 04/24/2024 | — | (130,808 ) |
22,168,000 CAD | 16,493,962 USD | UBS | 03/06/2024 | 159,234 | — |
116,343,000 CAD | 85,700,332 USD | UBS | 03/06/2024 | — | (28,250 ) |
16,329,345 USD | 22,168,000 CAD | UBS | 03/06/2024 | 5,383 | — |
88,481,682 USD | 118,920,000 CAD | UBS | 03/06/2024 | — | (854,210 ) |
22,168,000 CAD | 16,341,286 USD | UBS | 04/24/2024 | — | (5,556 ) |
85,763,001 USD | 116,343,000 CAD | UBS | 04/24/2024 | 29,158 | — |
62,642,000 AUD | 40,973,036 USD | Wells Fargo | 03/06/2024 | 253,063 | — |
67,006,000 AUD | 43,527,382 USD | Wells Fargo | 03/06/2024 | — | (29,377 ) |
1,351,000 GBP | 1,707,100 USD | Wells Fargo | 03/06/2024 | 1,711 | — |
941,175,000 NOK | 88,903,875 USD | Wells Fargo | 03/06/2024 | 287,266 | — |
40,692,243 USD | 62,642,000 AUD | Wells Fargo | 03/06/2024 | 27,730 | — |
43,827,452 USD | 67,006,000 AUD | Wells Fargo | 03/06/2024 | — | (270,693 ) |
1,312,454 USD | 1,153,000 CHF | Wells Fargo | 03/06/2024 | — | (8,381 ) |
88,739,762 USD | 941,175,000 NOK | Wells Fargo | 03/06/2024 | — | (123,153 ) |
62,642,000 AUD | 40,753,319 USD | Wells Fargo | 04/24/2024 | — | (31,258 ) |
20,112,000 NOK | 1,902,168 USD | Wells Fargo | 04/24/2024 | 6,173 | — |
42,925,589 USD | 65,981,000 AUD | Wells Fargo | 04/24/2024 | 32,925 | — |
1,863,819 USD | 1,476,000 GBP | Wells Fargo | 04/24/2024 | — | (73 ) |
85,776,775 USD | 906,935,000 NOK | Wells Fargo | 04/24/2024 | — | (278,379 ) |
Total | 12,665,512 | (7,297,497 ) |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Australian 10-Year Bond | 425 | 03/2024 | AUD | 48,881,872 | 522,240 | — |
Canadian Government 10-Year Bond | 259 | 06/2024 | CAD | 31,046,330 | 62,527 | — |
Euro-Bobl | 76 | 03/2024 | EUR | 8,832,720 | — | (157,362 ) |
Euro-BTP | 67 | 03/2024 | EUR | 7,893,940 | 93,780 | — |
Euro-Bund | 189 | 03/2024 | EUR | 25,070,850 | — | (425,215 ) |
6
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Long futures contracts (continued) | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Euro-Buxl 30-Year | 50 | 03/2024 | EUR | 6,658,000 | — | (144,709 ) |
Euro-OAT | 156 | 03/2024 | EUR | 19,919,640 | — | (231,288 ) |
IBEX 35 Index | 522 | 03/2024 | EUR | 52,342,506 | — | (2,894 ) |
Long Gilt | 397 | 06/2024 | GBP | 38,941,730 | 118,470 | — |
MSCI EAFE Index | 2,085 | 03/2024 | USD | 238,513,575 | 13,054,456 | — |
MSCI Emerging Markets Index | 3,826 | 03/2024 | USD | 194,513,840 | 5,670,274 | — |
S&P 500 Index E-mini | 3,196 | 03/2024 | USD | 815,579,250 | 67,839,200 | — |
TOPIX Index | 417 | 03/2024 | JPY | 11,179,770,000 | 7,349,378 | — |
U.S. Treasury 10-Year Note | 925 | 06/2024 | USD | 102,154,688 | 19,691 | — |
U.S. Treasury Ultra 10-Year Note | 1,883 | 06/2024 | USD | 214,985,641 | 159,933 | — |
Total | 94,889,949 | (961,468 ) |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Euro STOXX 50 Index | (1,076) | 03/2024 | EUR | (52,659,440 ) | — | (56,247 ) |
Japanese 10-Year Government Bond | (25) | 03/2024 | JPY | (3,656,500,000 ) | — | (199,983 ) |
S&P/TSX 60 Index | (198) | 03/2024 | CAD | (51,107,760 ) | — | (1,879,054 ) |
SPI 200 Index | (536) | 03/2024 | AUD | (102,644,000 ) | — | (2,289,867 ) |
U.S. Treasury 5-Year Note | (1,074) | 06/2024 | USD | (114,817,313 ) | — | (25,975 ) |
Total | — | (4,451,126 ) |
Cleared credit default swap contracts - sell protection | ||||||||||||
Reference entity | Counterparty | Maturity date | Receive fixed rate (%) | Payment frequency | Implied credit spread (%)* | Notional currency | Notional amount | Value ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CDX Emerging Markets Index, Series 40 | Morgan Stanley | 12/20/2028 | 1.000 | Quarterly | 1.664 | USD | 234,177,000 | 4,252,429 | — | — | 4,252,429 | — |
Markit CDX North America Investment Grade Index, Series 41 | Morgan Stanley | 12/20/2028 | 5.000 | Quarterly | 3.381 | USD | 398,837,340 | 25,124,026 | — | — | 25,124,026 | — |
Markit CDX North America Investment Grade Index, Series 41 | Morgan Stanley | 12/20/2028 | 1.000 | Quarterly | 0.522 | USD | 225,568,000 | 1,998,085 | — | — | 1,998,085 | — |
Total | 31,374,540 | — | — | 31,374,540 | — |
* Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
Swap arrangement - contracts for differences | ||||||||||
Fund receives | Fund pays | Payment frequency | Counterparty | Maturity date | Notional currency | Notional amount | Value ($) | Cash & other receivable (payable) ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Appreciation on underlying contracts for differences (CFDs), accrued income on long CFDs, and SOFR less a spread of 40 basis points on short CFDs. | Depreciation on underlying CFDs, accrued income on underlying short CFDs, and SOFR plus a spread of 40 basis points on long CFDs | Monthly | Goldman Sachs International | 02/24/2027 | USD | 40,733,389 | 229,992 | (99,390 ) | 130,602 | — |
The following table represents the contracts for differences underlying the swap arrangement as of February 29, 2024. Percentages represent the unrealized appreciation (depreciation) of each underlying contract for difference compared to the aggregate unrealized appreciation (depreciation) of the swap arrangement:
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
7
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Description | Shares | Notional Amount ($) | Appreciation (Depreciation) ($) | (%) |
Long Equity Contracts for Differences | ||||
Real Estate | ||||
Diversified REITs | ||||
Broadstone Net Lease, Inc. | 44,100 | 697,221 | (39,690 ) | (30.4 ) |
WP Carey, Inc. | 29,700 | 1,701,810 | (28,809 ) | (22.1 ) |
Health Care REITs | ||||
Ventas, Inc. | 29,100 | 1,286,511 | (55,872 ) | (42.8 ) |
Hotel & Resort REITs | ||||
Park Hotels & Resorts, Inc. | 114,500 | 1,747,270 | 153,430 | 117.5 |
Office REITs | ||||
Boston Properties, Inc. | 22,500 | 1,500,975 | (44,775 ) | (34.3 ) |
Kilroy Realty Corp. | 75,400 | 2,745,034 | 111,872 | 85.7 |
NET Lease Office Properties | 2,134 | 57,021 | (4,973 ) | (3.8 ) |
Retail REITs | ||||
Agree Realty Corp. | 30,500 | 1,748,870 | (72,895 ) | (55.8 ) |
Kite Realty Group Trust | 30,600 | 668,610 | (13,464 ) | (10.3 ) |
Retail Opportunity Investments Corp. | 178,400 | 2,290,656 | 16,056 | 12.3 |
Specialized REITs | ||||
Gaming and Leisure Properties, Inc. | 114,795 | 5,212,841 | 8,036 | 6.2 |
Total | 19,656,819 | 28,916 |
Description | Shares | Notional Amount ($) | Appreciation (Depreciation) ($) | (%) |
Short Equity Contracts for Differences | ||||
Real Estate | ||||
Health Care REITs | ||||
Sabra Health Care REIT, Inc. | (195,800 ) | (2,709,872 ) | (7,832 ) | (6.0 ) |
Hotel & Resort REITs | ||||
Host Hotels & Resorts, Inc. | (28,492 ) | (566,991 ) | (23,933 ) | (18.3 ) |
Industrial REITs | ||||
STAG Industrial Inc | (14,600 ) | (571,152 ) | 28,908 | 22.1 |
Terreno Realty Corp | (13,200 ) | (831,468 ) | (17,292 ) | (13.2 ) |
Office REITs | ||||
Douglas Emmett, Inc. | (121,800 ) | (1,663,788 ) | 53,592 | 41.0 |
JBG Smith Properties | (115,800 ) | (1,905,361 ) | (14,603 ) | (11.2 ) |
Paramount Group, Inc. | (315,800 ) | (1,464,102 ) | 65,108 | 49.9 |
Residential REITs | ||||
Camden Property Trust | (15,500 ) | (1,509,235 ) | 44,795 | 34.3 |
Mid-America Apartment Communities, Inc. | (5,800 ) | (751,158 ) | 22,214 | 17.0 |
Retail REITs | ||||
NNN REIT, Inc. | (22,400 ) | (910,560 ) | (896 ) | (0.7 ) |
Phillips Edison & Co., Inc. | (42,500 ) | (1,490,475 ) | (27,625 ) | (21.2 ) |
Regency Centers Corp. | (8,600 ) | (526,664 ) | (6,106 ) | (4.7 ) |
Urban Edge Properties | (104,900 ) | (1,835,750 ) | 51,401 | 39.4 |
Specialized REITs | ||||
American Tower Corp. | (5,900 ) | (1,104,244 ) | (69,030 ) | (52.9 ) |
National Storage Affiliates Trust | (87,500 ) | (3,235,750 ) | 102,375 | 78.4 |
Total | (21,076,570 ) | 201,076 |
8
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Swap arrangement - contracts for differences | ||||||||||
Fund receives | Fund pays | Payment frequency | Counterparty | Maturity date | Notional currency | Notional amount | Value ($) | Cash & other receivable (payable) ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Appreciation on underlying contracts for difference (CFDs), accrued income on long CFDs, and 1-Day Overnight Fed Funds Effective Rate less a spread of 35 basis points on short CFDs. | Depreciation on underlying CFDs, accrued income on underlying short CFDs, and 1-Day Overnight Fed Funds Effective Rate plus a spread of 40 basis points on long CFDs. | Monthly | Morgan Stanley | 08/06/2025 | USD | 16,389,084 | (153,713 ) | (19,781 ) | — | (173,494 ) |
The following table represents the contracts for differences underlying the swap arrangement as of February 29, 2024. Percentages represent the unrealized appreciation (depreciation) of each underlying contract for difference compared to the aggregate unrealized appreciation (depreciation) of the swap arrangement:
Description | Shares | Notional Amount ($) | Appreciation (Depreciation) ($) | (%) |
Long Equity Contracts for Differences | ||||
Real Estate | ||||
Diversified REITs | ||||
Essential Properties Realty Trust, Inc. | 71,200 | 1,747,248 | (46,280 ) | 26.7 |
Industrial REITs | ||||
Rexford Industrial Realty, Inc. | 34,200 | 1,819,098 | (79,002 ) | 45.5 |
Office REITs | ||||
Brandywine Realty Trust | 23,800 | 99,008 | 3,332 | (1.9 ) |
Highwoods Properties, Inc. | 52,700 | 1,253,206 | 35,309 | (20.4 ) |
Vornado Realty Trust | 108,600 | 2,789,589 | 66,591 | (38.4 ) |
Specialized REITs | ||||
Public Storage | 12,400 | 3,549,624 | (29,636 ) | 17.1 |
Total | 11,257,773 | (49,686 ) |
Description | Shares | Notional Amount ($) | Appreciation (Depreciation) ($) | (%) |
Short Equity Contracts for Differences | ||||
Real Estate | ||||
Hotel & Resort REITs | ||||
Pebblebrook Hotel Trust | (142,700 ) | (2,301,751 ) | 41,383 | (23.9 ) |
Office REITs | ||||
SL Green Realty Corp. | (37,000 ) | (1,693,860 ) | (99,900 ) | 57.6 |
Retail REITs | ||||
Tanger, Inc. | (41,000 ) | (1,135,700 ) | (45,510 ) | 26.2 |
Total | (5,131,311 ) | (104,027 ) |
Swap arrangement - contracts for differences | ||||||||||
Fund receives | Fund pays | Payment frequency | Counterparty | Maturity date | Notional currency | Notional amount | Value ($) | Cash & other receivable (payable) ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Appreciation on underlying contracts for differences (CFDs), accrued income on long CFDs, and OBFR on short CFDs. | Depreciation on underlying CFDs, accrued income on underlying short CFDs, and OBFR plus a spread of 46.5 basis points on long CFDs. | Monthly | UBS | 11/03/2026 | USD | 99,239 | (560 ) | (143 ) | — | (703 ) |
The following table represents the contracts for differences underlying the swap arrangement as of February 29, 2024. Percentages represent the unrealized appreciation (depreciation) of each underlying contract for difference compared to the aggregate unrealized appreciation (depreciation) of the swap arrangement:
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
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Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Description | Shares | Notional Amount ($) | Appreciation (Depreciation) ($) | (%) |
Long Equity Contracts for Differences | ||||
Real Estate | ||||
Specialized REITs | ||||
Extra Space Storage, Inc. | 700 | 99,239 | (560 ) | 79.7 |
Total | 99,239 | (560 ) |
Reference index and values for swap contracts as of period end | ||
Reference index | Reference rate | |
1-Day Overnight Fed Funds Effective Rate | Overnight Federal Funds Effective Rate | 5.330% |
OBFR | Overnight Bank Funding Rate | 5.320% |
SOFR | Secured Overnight Financing Rate | 5.310% |
Notes to Portfolio of Investments
(a) | 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 February 29, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Capital gain distributions($) | Realized gain (loss)($) | Dividends — affiliated issuers ($) | End of period shares |
Columbia Commodity Strategy Fund, Institutional 3 Class | |||||||||
175,783,540 | 88,266,359 | (98,683,165 ) | 5,245,020 | 170,611,754 | — | (4,381,766 ) | 7,266,359 | 18,054,154 | |
Columbia Short-Term Cash Fund, 5.557% | |||||||||
1,612,883,985 | 2,571,667,829 | (3,092,128,962 ) | 285,537 | 1,092,708,389 | — | 93,277 | 48,562,734 | 1,092,926,975 | |
Columbia Solutions Aggressive Portfolio | |||||||||
1,120,628 | — | (1,556,231 ) | 435,603 | — | — | (388,270 ) | — | — | |
Columbia Solutions Conservative Portfolio | |||||||||
6,272,511 | 61,344 | (7,470,144 ) | 1,136,289 | — | — | (1,098,275 ) | 61,344 | — | |
Total | 1,796,060,664 | 7,102,449 | 1,263,320,143 | — | (5,775,034 ) | 55,890,437 |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(d) | Principal and interest may not be guaranteed by a governmental entity. |
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At February 29, 2024, the total value of these securities amounted to $305,807,463, which represents 10.71% of total net assets. |
(f) | Zero coupon bond. |
(g) | Represents a security purchased on a when-issued basis. |
(h) | The rate shown is the seven-day current annualized yield at February 29, 2024. |
Abbreviation Legend
TBA | To Be Announced |
Currency Legend
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
CNY | China Yuan Renminbi |
DKK | Danish Krone |
EUR | Euro |
10
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
Portfolio of Investments (continued)Columbia Adaptive Risk Allocation Fund, February 29, 2024 (Unaudited)
Currency Legend (continued)
GBP | British Pound |
HKD | Hong Kong Dollar |
JPY | Japanese Yen |
KRW | South Korean Won |
MXN | Mexican Peso |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
USD | US Dollar |
ZAR | South African Rand |
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
Columbia Adaptive Risk Allocation Fund | Third Quarter Report 2024
11