UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-04367
Columbia Funds Series Trust I
(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: July, 31
Date of reporting period: July 31, 2021
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.
July 31, 2021
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41 | |
42 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/01/98 | 39.24 | 21.84 | 17.16 |
Including sales charges | 31.22 | 20.40 | 16.47 | ||
Advisor Class* | 11/08/12 | 39.60 | 22.14 | 17.46 | |
Class C | Excluding sales charges | 11/18/02 | 38.22 | 20.93 | 16.29 |
Including sales charges | 37.22 | 20.93 | 16.29 | ||
Class E | Excluding sales charges | 09/22/06 | 38.87 | 21.68 | 17.03 |
Including sales charges | 32.62 | 20.56 | 16.49 | ||
Institutional Class | 12/14/90 | 39.61 | 22.14 | 17.46 | |
Institutional 2 Class | 03/07/11 | 39.63 | 22.21 | 17.58 | |
Institutional 3 Class | 07/15/09 | 39.70 | 22.27 | 17.64 | |
Class R | 09/27/10 | 38.92 | 21.53 | 16.87 | |
Class V | Excluding sales charges | 12/14/90 | 39.26 | 21.84 | 17.15 |
Including sales charges | 31.26 | 20.40 | 16.45 | ||
Russell 1000 Growth Index | 36.68 | 23.32 | 18.37 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Institutional Class shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Large Cap Growth Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Common Stocks | 99.1 |
Money Market Funds | 0.9 |
Total | 100.0 |
Equity sector breakdown (%) (at July 31, 2021) | |
Communication Services | 14.3 |
Consumer Discretionary | 18.4 |
Consumer Staples | 1.4 |
Financials | 0.9 |
Health Care | 12.7 |
Industrials | 4.9 |
Information Technology | 46.0 |
Real Estate | 1.4 |
Total | 100.0 |
Equity sub-industry breakdown (%) (at July 31, 2021) | |
Information Technology | |
Application Software | 8.1 |
Data Processing & Outsourced Services | 7.5 |
Electronic Equipment & Instruments | 1.1 |
Internet Services & Infrastructure | 1.3 |
Semiconductor Equipment | 2.5 |
Semiconductors | 6.2 |
Systems Software | 11.3 |
Technology Hardware, Storage & Peripherals | 8.0 |
Total | 46.0 |
4 | Columbia Large Cap Growth Fund | Annual Report 2021 |
• | The Fund’s outperformance of the benchmark during the period was primarily driven by strong stock selection, particularly within the information technology, health care and industrials sectors. |
• | Within information technology, positive contributions were led by Applied Materials, a provider of technology essential to the manufacture of semiconductors and advanced displays. The stock outperformed as several semiconductor companies announced plans to increase capacity to meet rapidly rising demand. Supply shortages across the semiconductor space increased visibility for continued strong sales growth. |
• | Zebra Technologies Corporation, a manufacturer of product identification and tracking technologies, also performed strongly. The company experienced strong demand with the increase in e-commerce, as its customers sought to digitize and automate the tracking of goods in real time. |
• | Shares of Target Corp. also rose notably, as sales trends for the retailer continued to be strong. We believed Target was executing well on its e-commerce and technology investments, positioning the company to continue to gain market share over the long term. |
• | The consumer discretionary sector was the main area of relative underperformance in the quarter. The Fund’s underweight to Tesla within consumer discretionary was the most significant detractor, as shares of the electric vehicle manufacturer rose sharply, in part due to its inclusion in the S&P 500 Index. |
• | The Fund’s cash position during a period of strong equity market performance also hindered performance to a small degree. |
• | Shares of BioMarin Pharmaceutical Inc. dropped sharply on news that the FDA had requested full Phase III data prior to approval of Valrox, a highly anticipated gene therapy treatment for adults with severe cases of the most common form of hemophilia. This request pushed out the launch date for Valrox from late 2021 to mid-2022, and we exited the position in third quarter of 2020. |
• | Also in health care, a lack of exposure to Moderna, Inc. also detracted from performance as the stock rose sharply after announcing its COVID-19 vaccine. |
• | A position in Fidelity National Information Services also weighed on performance in the period as on-premise payment volumes declined sharply during the pandemic, and rising competition from new fintech companies weighed on sentiment and multiples for incumbent merchant acquirers. |
Columbia Large Cap Growth Fund | Annual Report 2021 | 5 |
6 | Columbia Large Cap Growth Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,215.80 | 1,020.04 | 5.41 | 4.94 | 0.98 |
Advisor Class | 1,000.00 | 1,000.00 | 1,217.30 | 1,021.29 | 4.04 | 3.68 | 0.73 |
Class C | 1,000.00 | 1,000.00 | 1,211.40 | 1,016.31 | 9.54 | 8.70 | 1.73 |
Class E | 1,000.00 | 1,000.00 | 1,214.10 | 1,018.65 | 6.96 | 6.34 | 1.26 |
Institutional Class | 1,000.00 | 1,000.00 | 1,217.50 | 1,021.29 | 4.04 | 3.68 | 0.73 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,217.60 | 1,021.29 | 4.04 | 3.68 | 0.73 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,217.90 | 1,021.64 | 3.65 | 3.33 | 0.66 |
Class R | 1,000.00 | 1,000.00 | 1,214.30 | 1,018.80 | 6.79 | 6.19 | 1.23 |
Class V | 1,000.00 | 1,000.00 | 1,216.00 | 1,020.04 | 5.41 | 4.94 | 0.98 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 7 |
July 31, 2021
Common Stocks 99.1% | ||
Issuer | Shares | Value ($) |
Communication Services 14.1% | ||
Entertainment 1.0% | ||
Electronic Arts, Inc. | 400,105 | 57,599,116 |
Interactive Media & Services 13.1% | ||
Alphabet, Inc., Class A(a) | 60,551 | 163,156,486 |
Alphabet, Inc., Class C(a) | 88,946 | 240,547,341 |
Facebook, Inc., Class A(a) | 793,470 | 282,713,361 |
Match Group, Inc.(a) | 376,614 | 59,983,312 |
Total | 746,400,500 | |
Total Communication Services | 803,999,616 | |
Consumer Discretionary 18.2% | ||
Automobiles 1.3% | ||
Tesla Motors, Inc.(a) | 113,261 | 77,832,959 |
Internet & Direct Marketing Retail 8.3% | ||
Amazon.com, Inc.(a) | 114,948 | 382,499,815 |
Etsy, Inc.(a) | 238,911 | 43,842,558 |
Wayfair, Inc., Class A(a) | 189,957 | 45,848,021 |
Total | 472,190,394 | |
Multiline Retail 1.4% | ||
Target Corp. | 298,769 | 77,993,647 |
Specialty Retail 4.2% | ||
Home Depot, Inc. (The) | 477,249 | 156,628,349 |
TJX Companies, Inc. (The) | 1,193,440 | 82,120,607 |
Total | 238,748,956 | |
Textiles, Apparel & Luxury Goods 3.0% | ||
NIKE, Inc., Class B | 713,789 | 119,566,795 |
VF Corp. | 637,707 | 51,144,102 |
Total | 170,710,897 | |
Total Consumer Discretionary | 1,037,476,853 | |
Consumer Staples 1.4% | ||
Household Products 1.4% | ||
Procter & Gamble Co. (The) | 538,690 | 76,617,879 |
Total Consumer Staples | 76,617,879 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Financials 0.9% | ||
Banks 0.9% | ||
SVB Financial Group(a) | 88,506 | 48,674,760 |
Total Financials | 48,674,760 | |
Health Care 12.6% | ||
Biotechnology 1.6% | ||
AbbVie, Inc. | 422,428 | 49,128,376 |
BioMarin Pharmaceutical, Inc.(a) | 258,916 | 19,866,625 |
Exact Sciences Corp.(a) | 201,600 | 21,740,544 |
Total | 90,735,545 | |
Health Care Equipment & Supplies 3.2% | ||
Danaher Corp. | 225,501 | 67,084,293 |
Medtronic PLC | 410,477 | 53,899,735 |
Stryker Corp. | 233,713 | 63,322,200 |
Total | 184,306,228 | |
Health Care Technology 1.4% | ||
Veeva Systems Inc., Class A(a) | 234,215 | 77,925,673 |
Life Sciences Tools & Services 3.0% | ||
10X Genomics, Inc., Class A(a) | 184,470 | 33,800,438 |
Charles River Laboratories International, Inc.(a) | 173,094 | 70,435,410 |
IQVIA Holdings, Inc.(a) | 264,187 | 65,439,120 |
Total | 169,674,968 | |
Pharmaceuticals 3.4% | ||
Eli Lilly & Co. | 418,714 | 101,956,859 |
Horizon Therapeutics PLC(a) | 259,168 | 25,921,983 |
Johnson & Johnson | 364,893 | 62,834,575 |
Total | 190,713,417 | |
Total Health Care | 713,355,831 | |
Industrials 4.9% | ||
Building Products 1.3% | ||
Trane Technologies PLC | 363,636 | 74,039,926 |
Electrical Equipment 1.1% | ||
AMETEK, Inc. | 439,263 | 61,079,520 |
Machinery 1.0% | ||
AGCO Corp. | 448,537 | 59,256,223 |
8 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Road & Rail 1.5% | ||
Union Pacific Corp. | 386,757 | 84,606,961 |
Total Industrials | 278,982,630 | |
Information Technology 45.6% | ||
Electronic Equipment, Instruments & Components 1.1% | ||
Zebra Technologies Corp., Class A(a) | 118,311 | 65,364,461 |
IT Services 8.7% | ||
Fidelity National Information Services, Inc. | 374,326 | 55,793,290 |
Fiserv, Inc.(a) | 394,587 | 45,420,910 |
PayPal Holdings, Inc.(a) | 527,348 | 145,300,194 |
Twilio, Inc., Class A(a) | 193,329 | 72,225,781 |
Visa, Inc., Class A | 707,714 | 174,373,653 |
Total | 493,113,828 | |
Semiconductors & Semiconductor Equipment 8.6% | ||
Applied Materials, Inc. | 644,862 | 90,235,540 |
Broadcom, Inc. | 217,760 | 105,700,704 |
Enphase Energy, Inc.(a) | 255,639 | 48,469,154 |
NVIDIA Corp. | 924,216 | 180,212,878 |
NXP Semiconductors NV | 310,987 | 64,184,607 |
Total | 488,802,883 | |
Software 19.3% | ||
Adobe, Inc.(a) | 225,231 | 140,010,346 |
Atlassian Corp. PLC, Class A(a) | 258,093 | 83,911,196 |
Autodesk, Inc.(a) | 259,314 | 83,273,505 |
Bill.com Holdings, Inc.(a) | 253,496 | 52,428,043 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Crowdstrike Holdings, Inc., Class A(a) | 279,241 | 70,818,310 |
Intuit, Inc. | 188,448 | 99,871,786 |
Microsoft Corp.(b) | 1,467,536 | 418,115,682 |
ServiceNow, Inc.(a) | 161,304 | 94,829,009 |
VMware, Inc., Class A(a) | 356,670 | 54,834,446 |
Total | 1,098,092,323 | |
Technology Hardware, Storage & Peripherals 7.9% | ||
Apple, Inc. | 3,087,899 | 450,400,948 |
Total Information Technology | 2,595,774,443 | |
Real Estate 1.4% | ||
Equity Real Estate Investment Trusts (REITS) 1.4% | ||
Equinix, Inc. | 99,622 | 81,730,885 |
Total Real Estate | 81,730,885 | |
Total Common Stocks (Cost $2,511,451,014) | 5,636,612,897 | |
Money Market Funds 0.9% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(c),(d) | 53,831,726 | 53,826,343 |
Total Money Market Funds (Cost $53,827,307) | 53,826,343 | |
Total Investments in Securities (Cost: $2,565,278,321) | 5,690,439,240 | |
Other Assets & Liabilities, Net | (1,255,712) | |
Net Assets | 5,689,183,528 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 209 | 09/2021 | USD | 45,870,275 | 1,097,504 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
Columbia Large Cap Growth Fund | Annual Report 2021 | 9 |
July 31, 2021
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
84,772,073 | 1,062,132,374 | (1,093,078,447) | 343 | 53,826,343 | (3,086) | 51,471 | 53,831,726 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 803,999,616 | — | — | 803,999,616 |
Consumer Discretionary | 1,037,476,853 | — | — | 1,037,476,853 |
Consumer Staples | 76,617,879 | — | — | 76,617,879 |
Financials | 48,674,760 | — | — | 48,674,760 |
Health Care | 713,355,831 | — | — | 713,355,831 |
10 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Industrials | 278,982,630 | — | — | 278,982,630 |
Information Technology | 2,595,774,443 | — | — | 2,595,774,443 |
Real Estate | 81,730,885 | — | — | 81,730,885 |
Total Common Stocks | 5,636,612,897 | — | — | 5,636,612,897 |
Money Market Funds | 53,826,343 | — | — | 53,826,343 |
Total Investments in Securities | 5,690,439,240 | — | — | 5,690,439,240 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 1,097,504 | — | — | 1,097,504 |
Total | 5,691,536,744 | — | — | 5,691,536,744 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 11 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $2,511,451,014) | $5,636,612,897 |
Affiliated issuers (cost $53,827,307) | 53,826,343 |
Receivable for: | |
Capital shares sold | 986,583 |
Dividends | 1,020,135 |
Prepaid expenses | 57,895 |
Trustees’ deferred compensation plan | 488,002 |
Other assets | 43,170 |
Total assets | 5,693,035,025 |
Liabilities | |
Payable for: | |
Capital shares purchased | 2,649,956 |
Variation margin for futures contracts | 233,035 |
Management services fees | 99,926 |
Distribution and/or service fees | 24,727 |
Transfer agent fees | 266,570 |
Compensation of board members | 18,940 |
Compensation of chief compliance officer | 126 |
Other expenses | 70,215 |
Trustees’ deferred compensation plan | 488,002 |
Total liabilities | 3,851,497 |
Net assets applicable to outstanding capital stock | $5,689,183,528 |
Represented by | |
Paid in capital | 2,252,197,138 |
Total distributable earnings (loss) | 3,436,986,390 |
Total - representing net assets applicable to outstanding capital stock | $5,689,183,528 |
12 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Class A | |
Net assets | $2,900,684,185 |
Shares outstanding | 46,288,769 |
Net asset value per share | $62.66 |
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) | $66.48 |
Advisor Class | |
Net assets | $20,759,999 |
Shares outstanding | 304,313 |
Net asset value per share | $68.22 |
Class C | |
Net assets | $81,518,570 |
Shares outstanding | 1,708,015 |
Net asset value per share | $47.73 |
Class E | |
Net assets | $20,376,017 |
Shares outstanding | 328,713 |
Net asset value per share | $61.99 |
Maximum sales charge | 4.50% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class E shares) | $64.91 |
Institutional Class | |
Net assets | $1,360,639,628 |
Shares outstanding | 20,510,583 |
Net asset value per share | $66.34 |
Institutional 2 Class | |
Net assets | $108,093,446 |
Shares outstanding | 1,626,217 |
Net asset value per share | $66.47 |
Institutional 3 Class | |
Net assets | $877,534,907 |
Shares outstanding | 13,141,227 |
Net asset value per share | $66.78 |
Class R | |
Net assets | $10,247,110 |
Shares outstanding | 166,646 |
Net asset value per share | $61.49 |
Class V | |
Net assets | $309,329,666 |
Shares outstanding | 4,995,161 |
Net asset value per share | $61.93 |
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 V shares) | $65.71 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 13 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $37,736,827 |
Dividends — affiliated issuers | 51,471 |
Foreign taxes withheld | (86,748) |
Total income | 37,701,550 |
Expenses: | |
Management services fees | 31,137,330 |
Distribution and/or service fees | |
Class A | 6,285,181 |
Class C | 848,339 |
Class E | 63,938 |
Class R | 59,842 |
Class V | 672,041 |
Transfer agent fees | |
Class A | 2,026,364 |
Advisor Class | 11,998 |
Class C | 68,715 |
Class E | 48,635 |
Institutional Class | 951,340 |
Institutional 2 Class | 13,178 |
Institutional 3 Class | 43,515 |
Class R | 9,715 |
Class V | 216,690 |
Compensation of board members | 83,005 |
Custodian fees | 30,291 |
Printing and postage fees | 157,260 |
Registration fees | 194,134 |
Audit fees | 30,280 |
Legal fees | 88,068 |
Interest on collateral | 1,097 |
Compensation of chief compliance officer | 1,415 |
Other | 150,991 |
Total expenses | 43,193,362 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,856) |
Expense reduction | (13,536) |
Total net expenses | 43,177,970 |
Net investment loss | (5,476,420) |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 552,411,803 |
Investments — affiliated issuers | (3,086) |
Futures contracts | 14,400,848 |
Net realized gain | 566,809,565 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 1,070,831,567 |
Investments — affiliated issuers | 343 |
Futures contracts | (1,379,073) |
Net change in unrealized appreciation (depreciation) | 1,069,452,837 |
Net realized and unrealized gain | 1,636,262,402 |
Net increase in net assets resulting from operations | $1,630,785,982 |
14 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income (loss) | $(5,476,420) | $2,104,959 |
Net realized gain | 566,809,565 | 368,031,919 |
Net change in unrealized appreciation (depreciation) | 1,069,452,837 | 543,980,413 |
Net increase in net assets resulting from operations | 1,630,785,982 | 914,117,291 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (286,697,027) | (157,797,785) |
Advisor Class | (1,594,971) | (729,200) |
Class C | (13,498,493) | (7,739,945) |
Class E | (2,128,937) | (1,266,394) |
Institutional Class | (131,489,967) | (71,758,661) |
Institutional 2 Class | (2,328,003) | (1,239,785) |
Institutional 3 Class | (63,006,305) | (30,274,543) |
Class R | (1,425,169) | (910,294) |
Class V | (30,981,331) | (17,136,284) |
Total distributions to shareholders | (533,150,203) | (288,852,891) |
Increase (decrease) in net assets from capital stock activity | 365,711,826 | (40,309,225) |
Total increase in net assets | 1,463,347,605 | 584,955,175 |
Net assets at beginning of year | 4,225,835,923 | 3,640,880,748 |
Net assets at end of year | $5,689,183,528 | $4,225,835,923 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 15 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,692,261 | 92,180,209 | 1,631,890 | 71,234,591 |
Distributions reinvested | 5,459,391 | 276,791,144 | 3,632,164 | 152,187,652 |
Redemptions | (5,058,719) | (274,713,720) | (5,564,010) | (241,251,747) |
Net increase (decrease) | 2,092,933 | 94,257,633 | (299,956) | (17,829,504) |
Advisor Class | ||||
Subscriptions | 119,324 | 7,179,335 | 101,519 | 4,815,207 |
Distributions reinvested | 24,561 | 1,353,575 | 15,202 | 685,460 |
Redemptions | (57,075) | (3,289,468) | (159,570) | (7,352,070) |
Net increase (decrease) | 86,810 | 5,243,442 | (42,849) | (1,851,403) |
Class C | ||||
Subscriptions | 232,886 | 9,800,732 | 294,371 | 10,182,407 |
Distributions reinvested | 339,260 | 13,163,270 | 216,905 | 7,246,787 |
Redemptions | (1,003,644) | (42,194,435) | (581,402) | (20,671,490) |
Net decrease | (431,498) | (19,230,433) | (70,126) | (3,242,296) |
Class E | ||||
Subscriptions | 230 | 10,962 | 370 | 16,542 |
Distributions reinvested | 42,367 | 2,128,937 | 30,442 | 1,266,394 |
Redemptions | (54,829) | (2,953,716) | (57,725) | (2,554,049) |
Net decrease | (12,232) | (813,817) | (26,913) | (1,271,113) |
Institutional Class | ||||
Subscriptions | 1,241,974 | 71,615,653 | 1,189,338 | 54,260,014 |
Distributions reinvested | 2,277,626 | 122,057,961 | 1,516,548 | 66,712,940 |
Redemptions | (2,869,901) | (163,390,306) | (4,346,615) | (195,849,121) |
Net increase (decrease) | 649,699 | 30,283,308 | (1,640,729) | (74,876,167) |
Institutional 2 Class | ||||
Subscriptions | 1,359,264 | 87,695,216 | 105,298 | 4,813,721 |
Distributions reinvested | 43,360 | 2,328,003 | 28,130 | 1,239,420 |
Redemptions | (110,786) | (6,394,925) | (102,402) | (4,587,292) |
Net increase | 1,291,838 | 83,628,294 | 31,026 | 1,465,849 |
Institutional 3 Class | ||||
Subscriptions | 6,124,493 | 331,787,174 | 2,681,545 | 132,385,266 |
Distributions reinvested | 679,477 | 36,637,408 | 333,271 | 14,737,257 |
Redemptions | (3,441,935) | (200,663,745) | (1,879,561) | (87,088,044) |
Net increase | 3,362,035 | 167,760,837 | 1,135,255 | 60,034,479 |
Class R | ||||
Subscriptions | 71,838 | 3,791,386 | 86,595 | 3,813,146 |
Distributions reinvested | 21,288 | 1,060,751 | 12,085 | 499,350 |
Redemptions | (163,052) | (8,872,547) | (170,460) | (7,250,675) |
Net decrease | (69,926) | (4,020,410) | (71,780) | (2,938,179) |
Class V | ||||
Subscriptions | 144,581 | 7,309,544 | 103,682 | 4,371,474 |
Distributions reinvested | 457,788 | 22,935,181 | 306,175 | 12,694,027 |
Redemptions | (404,125) | (21,641,753) | (391,349) | (16,866,392) |
Net increase | 198,244 | 8,602,972 | 18,508 | 199,109 |
Total net increase (decrease) | 7,167,903 | 365,711,826 | (967,564) | (40,309,225) |
16 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $50.90 | (0.11) | 18.52 | 18.41 | (0.07) | (6.58) | (6.65) |
Year Ended 7/31/2020 | $43.43 | (0.01) | 11.15 | 11.14 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $43.86 | (0.04) | 2.98 | 2.94 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $39.81 | (0.05) | 6.62 | 6.57 | — | (2.52) | (2.52) |
Year Ended 7/31/2017 | $33.82 | 0.06 | 6.47 | 6.53 | (0.08) | (0.46) | (0.54) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $54.87 | 0.02 | 20.10 | 20.12 | (0.19) | (6.58) | (6.77) |
Year Ended 7/31/2020 | $46.43 | 0.10 | 12.01 | 12.11 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $46.53 | 0.07 | 3.20 | 3.27 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $42.06 | 0.05 | 7.00 | 7.05 | (0.06) | (2.52) | (2.58) |
Year Ended 7/31/2017 | $35.69 | 0.15 | 6.84 | 6.99 | (0.16) | (0.46) | (0.62) |
Class C | |||||||
Year Ended 7/31/2021 | $40.39 | (0.39) | 14.31 | 13.92 | — | (6.58) | (6.58) |
Year Ended 7/31/2020 | $35.43 | (0.27) | 8.90 | 8.63 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $36.70 | (0.29) | 2.39 | 2.10 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $33.95 | (0.30) | 5.57 | 5.27 | — | (2.52) | (2.52) |
Year Ended 7/31/2017 | $29.06 | (0.18) | 5.53 | 5.35 | — | (0.46) | (0.46) |
Class E | |||||||
Year Ended 7/31/2021 | $50.50 | (0.26) | 18.35 | 18.09 | (0.02) | (6.58) | (6.60) |
Year Ended 7/31/2020 | $43.15 | (0.06) | 11.08 | 11.02 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $43.65 | (0.08) | 2.95 | 2.87 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $39.67 | (0.10) | 6.60 | 6.50 | — | (2.52) | (2.52) |
Year Ended 7/31/2017 | $33.70 | 0.02 | 6.45 | 6.47 | (0.04) | (0.46) | (0.50) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $53.52 | 0.03 | 19.56 | 19.59 | (0.19) | (6.58) | (6.77) |
Year Ended 7/31/2020 | $45.38 | 0.10 | 11.71 | 11.81 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $45.56 | 0.06 | 3.13 | 3.19 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $41.23 | 0.06 | 6.86 | 6.92 | (0.07) | (2.52) | (2.59) |
Year Ended 7/31/2017 | $35.00 | 0.15 | 6.70 | 6.85 | (0.16) | (0.46) | (0.62) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $53.62 | (0.00)(e) | 19.64 | 19.64 | (0.21) | (6.58) | (6.79) |
Year Ended 7/31/2020 | $45.44 | 0.12 | 11.73 | 11.85 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $45.59 | 0.09 | 3.13 | 3.22 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $41.25 | 0.08 | 6.87 | 6.95 | (0.09) | (2.52) | (2.61) |
Year Ended 7/31/2017 | $35.02 | 0.18 | 6.70 | 6.88 | (0.19) | (0.46) | (0.65) |
18 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 7/31/2021 | $62.66 | 39.24% | 0.99%(c) | 0.99%(c),(d) | (0.21%) | 52% | $2,900,684 |
Year Ended 7/31/2020 | $50.90 | 27.48% | 1.02% | 1.02%(d) | (0.03%) | 46% | $2,249,478 |
Year Ended 7/31/2019 | $43.43 | 7.84% | 1.04% | 1.04% | (0.10%) | 35% | $1,932,367 |
Year Ended 7/31/2018 | $43.86 | 17.26% | 1.05% | 1.05%(d) | (0.13%) | 32% | $1,976,097 |
Year Ended 7/31/2017 | $39.81 | 19.61% | 1.09% | 1.09%(d) | 0.16% | 29% | $1,835,075 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $68.22 | 39.60% | 0.74%(c) | 0.74%(c),(d) | 0.03% | 52% | $20,760 |
Year Ended 7/31/2020 | $54.87 | 27.81% | 0.77% | 0.77%(d) | 0.21% | 46% | $11,934 |
Year Ended 7/31/2019 | $46.43 | 8.11% | 0.79% | 0.79% | 0.15% | 35% | $12,088 |
Year Ended 7/31/2018 | $46.53 | 17.52% | 0.80% | 0.80%(d) | 0.12% | 32% | $14,629 |
Year Ended 7/31/2017 | $42.06 | 19.92% | 0.84% | 0.84%(d) | 0.40% | 29% | $11,552 |
Class C | |||||||
Year Ended 7/31/2021 | $47.73 | 38.22% | 1.74%(c) | 1.74%(c),(d) | (0.93%) | 52% | $81,519 |
Year Ended 7/31/2020 | $40.39 | 26.54% | 1.77% | 1.77%(d) | (0.78%) | 46% | $86,411 |
Year Ended 7/31/2019 | $35.43 | 7.03% | 1.79% | 1.79% | (0.86%) | 35% | $78,293 |
Year Ended 7/31/2018 | $36.70 | 16.37% | 1.80% | 1.80%(d) | (0.87%) | 32% | $75,872 |
Year Ended 7/31/2017 | $33.95 | 18.72% | 1.84% | 1.84%(d) | (0.58%) | 29% | $101,600 |
Class E | |||||||
Year Ended 7/31/2021 | $61.99 | 38.87% | 1.27%(c) | 1.26%(c),(d) | (0.48%) | 52% | $20,376 |
Year Ended 7/31/2020 | $50.50 | 27.37% | 1.12% | 1.12%(d) | (0.13%) | 46% | $17,216 |
Year Ended 7/31/2019 | $43.15 | 7.71% | 1.14% | 1.14% | (0.20%) | 35% | $15,875 |
Year Ended 7/31/2018 | $43.65 | 17.14% | 1.15% | 1.15%(d) | (0.23%) | 32% | $16,877 |
Year Ended 7/31/2017 | $39.67 | 19.50% | 1.19% | 1.19%(d) | 0.06% | 29% | $16,478 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $66.34 | 39.61% | 0.74%(c) | 0.74%(c),(d) | 0.04% | 52% | $1,360,640 |
Year Ended 7/31/2020 | $53.52 | 27.79% | 0.77% | 0.77%(d) | 0.22% | 46% | $1,062,936 |
Year Ended 7/31/2019 | $45.38 | 8.11% | 0.79% | 0.79% | 0.15% | 35% | $975,664 |
Year Ended 7/31/2018 | $45.56 | 17.54% | 0.80% | 0.80%(d) | 0.13% | 32% | $996,845 |
Year Ended 7/31/2017 | $41.23 | 19.92% | 0.84% | 0.84%(d) | 0.40% | 29% | $1,132,702 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $66.47 | 39.63% | 0.72%(c) | 0.72%(c) | (0.00%)(e) | 52% | $108,093 |
Year Ended 7/31/2020 | $53.62 | 27.84% | 0.73% | 0.73% | 0.26% | 46% | $17,929 |
Year Ended 7/31/2019 | $45.44 | 8.17% | 0.74% | 0.74% | 0.20% | 35% | $13,783 |
Year Ended 7/31/2018 | $45.59 | 17.63% | 0.73% | 0.73% | 0.19% | 32% | $12,715 |
Year Ended 7/31/2017 | $41.25 | 20.02% | 0.74% | 0.74% | 0.49% | 29% | $25,954 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 19 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $53.84 | 0.05 | 19.70 | 19.75 | (0.23) | (6.58) | (6.81) |
Year Ended 7/31/2020 | $45.59 | 0.14 | 11.78 | 11.92 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $45.70 | 0.11 | 3.15 | 3.26 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $41.35 | 0.09 | 6.88 | 6.97 | (0.10) | (2.52) | (2.62) |
Year Ended 7/31/2017 | $35.10 | 0.16 | 6.76 | 6.92 | (0.21) | (0.46) | (0.67) |
Class R | |||||||
Year Ended 7/31/2021 | $50.11 | (0.23) | 18.19 | 17.96 | — | (6.58) | (6.58) |
Year Ended 7/31/2020 | $42.92 | (0.12) | 10.98 | 10.86 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $43.49 | (0.14) | 2.94 | 2.80 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $39.59 | (0.14) | 6.56 | 6.42 | — | (2.52) | (2.52) |
Year Ended 7/31/2017 | $33.65 | (0.04) | 6.44 | 6.40 | — | (0.46) | (0.46) |
Class V | |||||||
Year Ended 7/31/2021 | $50.37 | (0.11) | 18.32 | 18.21 | (0.07) | (6.58) | (6.65) |
Year Ended 7/31/2020 | $43.01 | (0.01) | 11.04 | 11.03 | — | (3.67) | (3.67) |
Year Ended 7/31/2019 | $43.47 | (0.04) | 2.95 | 2.91 | — | (3.37) | (3.37) |
Year Ended 7/31/2018 | $39.48 | (0.05) | 6.56 | 6.51 | — | (2.52) | (2.52) |
Year Ended 7/31/2017 | $33.55 | 0.06 | 6.41 | 6.47 | (0.08) | (0.46) | (0.54) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Rounds to zero. |
20 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $66.78 | 39.70% | 0.66%(c) | 0.66%(c) | 0.09% | 52% | $877,535 |
Year Ended 7/31/2020 | $53.84 | 27.91% | 0.68% | 0.68% | 0.31% | 46% | $526,471 |
Year Ended 7/31/2019 | $45.59 | 8.24% | 0.69% | 0.69% | 0.26% | 35% | $394,049 |
Year Ended 7/31/2018 | $45.70 | 17.65% | 0.69% | 0.69% | 0.20% | 32% | $428,819 |
Year Ended 7/31/2017 | $41.35 | 20.09% | 0.69% | 0.69% | 0.41% | 29% | $184,471 |
Class R | |||||||
Year Ended 7/31/2021 | $61.49 | 38.92% | 1.24%(c) | 1.24%(c),(d) | (0.44%) | 52% | $10,247 |
Year Ended 7/31/2020 | $50.11 | 27.14% | 1.27% | 1.27%(d) | (0.28%) | 46% | $11,856 |
Year Ended 7/31/2019 | $42.92 | 7.57% | 1.29% | 1.29% | (0.35%) | 35% | $13,233 |
Year Ended 7/31/2018 | $43.49 | 16.96% | 1.30% | 1.30%(d) | (0.35%) | 32% | $15,911 |
Year Ended 7/31/2017 | $39.59 | 19.29% | 1.34% | 1.34%(d) | (0.10%) | 29% | $29,781 |
Class V | |||||||
Year Ended 7/31/2021 | $61.93 | 39.26% | 0.99%(c) | 0.99%(c),(d) | (0.21%) | 52% | $309,330 |
Year Ended 7/31/2020 | $50.37 | 27.49% | 1.02% | 1.02%(d) | (0.03%) | 46% | $241,606 |
Year Ended 7/31/2019 | $43.01 | 7.84% | 1.04% | 1.04% | (0.11%) | 35% | $205,528 |
Year Ended 7/31/2018 | $43.47 | 17.25% | 1.05% | 1.05%(d) | (0.13%) | 32% | $208,329 |
Year Ended 7/31/2017 | $39.48 | 19.59% | 1.09% | 1.09%(d) | 0.16% | 29% | $194,803 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 21 |
July 31, 2021
22 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Columbia Large Cap Growth Fund | Annual Report 2021 | 23 |
July 31, 2021
24 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 1,097,504* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | 14,400,848 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (1,379,073) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 25,959,146 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Large Cap Growth Fund | Annual Report 2021 | 25 |
July 31, 2021
26 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
51,158,097 | — | — |
Columbia Large Cap Growth Fund | Annual Report 2021 | 27 |
July 31, 2021
Effective rate (%) | |
Class A | 0.08 |
Advisor Class | 0.08 |
Class C | 0.08 |
Class E | 0.27 |
Institutional Class | 0.08 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.08 |
Class V | 0.08 |
28 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 712,477 |
Class C | — | 1.00(b) | 2,455 |
Class E | 4.50 | 1.00(b) | 212 |
Class V | 5.75 | 0.50 - 1.00(a) | 6,891 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 1.10% | 1.15% |
Advisor Class | 0.85 | 0.90 |
Class C | 1.85 | 1.90 |
Class E | 1.40 | 1.25 |
Institutional Class | 0.85 | 0.90 |
Institutional 2 Class | 0.83 | 0.86 |
Institutional 3 Class | 0.78 | 0.81 |
Class R | 1.35 | 1.40 |
Class V | 1.10 | 1.15 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 29 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
11,471,267 | (11,471,267) | — |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
42,999,531 | 490,150,672 | 533,150,203 | — | 288,852,891 | 288,852,891 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
134,078,907 | 182,483,037 | — | 3,120,929,994 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
2,570,606,750 | 3,136,528,135 | (15,598,141) | 3,120,929,994 |
30 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Columbia Large Cap Growth Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Large Cap Growth Fund | Annual Report 2021 |
July 31, 2021
Columbia Large Cap Growth Fund | Annual Report 2021 | 33 |
34 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
36.33% | 35.25% | $404,009,491 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 35 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
36 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Large Cap Growth Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
38 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Large Cap Growth Fund | Annual Report 2021 | 39 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Petersen, who is Senior Vice President and Assistant Secretary, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
40 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | 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 Large Cap Growth Fund | Annual Report 2021 | 41 |
• | 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). |
42 | Columbia Large Cap Growth Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Large Cap Growth Fund | Annual Report 2021 | 43 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
44 | Columbia Large Cap Growth Fund | Annual Report 2021 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Large Cap Growth Fund | Annual Report 2021 | 45 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
17 | |
18 | |
19 | |
22 | |
26 | |
35 | |
36 | |
36 | |
42 | |
43 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/01/02 | 1.38 | 2.26 | 2.90 |
Including sales charges | -1.69 | 1.63 | 2.59 | ||
Advisor Class* | 03/19/13 | 1.63 | 2.52 | 3.16 | |
Class C | Excluding sales charges | 10/13/03 | 0.92 | 1.78 | 2.46 |
Including sales charges | -0.07 | 1.78 | 2.46 | ||
Institutional Class | 07/02/84 | 1.63 | 2.52 | 3.16 | |
Institutional 2 Class* | 11/08/12 | 1.67 | 2.53 | 3.19 | |
Institutional 3 Class* | 03/01/17 | 1.72 | 2.59 | 3.19 | |
Bloomberg Barclays 3-15 Year Blend Municipal Bond Index | 2.60 | 3.11 | 3.76 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products /mutual-funds/appended-performance for more information. |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at July 31, 2021) | |
AAA rating | 5.7 |
AA rating | 61.8 |
A rating | 24.2 |
BBB rating | 1.7 |
BB rating | 1.1 |
Not rated | 5.5 |
Total | 100.0 |
4 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 5 |
• | We’ve generally been more constructive on credit than duration over the past fiscal period. As a result, the Fund was run with a shorter duration than that of the benchmark during the period. This less-than-benchmark duration posture, along with the presence of cash reserves, curtailed performance. |
• | The Fund’s underweight to bonds rated BBB and overweight to bonds rated AA detracted from performance, illustrating the challenge of managing a high-quality issuer pool against the national universe. |
• | Similarly, an overweight to local GOs, in addition to pre-refunded bonds, weighed on Fund performance. |
• | Security selection within a few AA- and A-rated local GO bonds, transportation, and special tax names detracted from results versus the benchmark. |
• | Finally, as mentioned above, some of the Fund’s relative performance was a function of the strong performing constituents of the benchmark, such as many Illinois and New Jersey based credits that performed exceptionally well and benefited the benchmark by outsized proportions. These strong performing constituents were outside the reach of this Oregon-domiciled fund. |
• | We try to manage aspects of the Fund’s portfolio to more closely resemble the more balanced national market than the inherent characteristics of the state’s own issuance patterns. We believe that footing contributed to performance in several ways. |
• | A maturity profile that underweighted bonds with maturities within 2-5 years, while overweighting bonds with maturities of 10+ years, was helpful. |
• | An underrepresentation to AAA-rated issuers, along with a measured exposure to non-rated bonds in continuing care retirement communities, local GOs and charter schools, benefited performance. |
• | One area in which the Fund did more parallel the state’s makeup was in the use of zero-coupon bonds; an overweight to these naturally accreting instruments added to relative performance. |
• | Owning fewer state GOs than the benchmark, along with more hospitals, was beneficial, as was several instances of positive security selection decisions in various hospital, education, and student housing positions. |
6 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,005.80 | 1,020.89 | 4.05 | 4.08 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 1,007.10 | 1,022.14 | 2.80 | 2.82 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 1,003.60 | 1,018.65 | 6.29 | 6.34 | 1.26 |
Institutional Class | 1,000.00 | 1,000.00 | 1,007.10 | 1,022.14 | 2.80 | 2.82 | 0.56 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,007.20 | 1,022.29 | 2.65 | 2.67 | 0.53 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,007.50 | 1,022.54 | 2.40 | 2.42 | 0.48 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 7 |
July 31, 2021
Floating Rate Notes 0.7% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 0.7% | ||||
City of Minneapolis/St. Paul Housing & Redevelopment Authority(a),(b) | ||||
Revenue Bonds | ||||
Allina Health Systems | ||||
Series 2009B-2 (JPMorgan Chase Bank) | ||||
11/15/2035 | 0.030% | 600,000 | 600,000 | |
New York City Water & Sewer System(a),(b) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013 (JPMorgan Chase Bank) | ||||
06/15/2050 | 0.030% | 2,000,000 | 2,000,000 | |
Total | 2,600,000 | |||
Total Floating Rate Notes (Cost $2,600,000) | 2,600,000 | |||
Municipal Bonds 95.1% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 5.4% | ||||
Port of Portland | ||||
Refunding Revenue Bonds | ||||
Portland International Airport | ||||
Series 2015-23 | ||||
07/01/2028 | 5.000% | 1,240,000 | 1,456,336 | |
07/01/2031 | 5.000% | 1,750,000 | 2,055,312 | |
07/01/2032 | 5.000% | 2,000,000 | 2,344,680 | |
Revenue Bonds | ||||
Passenger Facility Charge | ||||
Series 2011 | ||||
07/01/2027 | 5.500% | 6,635,000 | 6,731,674 | |
Port of Portland Airport(c) | ||||
Revenue Bonds | ||||
Portland International Airport | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 1,680,000 | 2,140,428 | |
07/01/2036 | 5.000% | 650,000 | 826,602 | |
Series 2020A-27 | ||||
07/01/2030 | 5.000% | 3,000,000 | 3,962,951 | |
Total | 19,517,983 | |||
Charter Schools 0.2% | ||||
Oregon State Facilities Authority(d) | ||||
Revenue Bonds | ||||
Redmond Proficiency Academy Project | ||||
Series 2015 | ||||
06/15/2025 | 4.750% | 200,000 | 215,379 | |
06/15/2035 | 5.500% | 540,000 | 597,446 | |
Total | 812,825 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Higher Education 1.5% | ||||
City of Forest Grove | ||||
Refunding Revenue Bonds | ||||
Campus Improvement Pacific University Project | ||||
Series 2014 | ||||
05/01/2034 | 5.250% | 1,000,000 | 1,033,810 | |
Series 2015 | ||||
05/01/2030 | 5.000% | 550,000 | 629,889 | |
05/01/2036 | 5.000% | 1,500,000 | 1,706,002 | |
Oak Tree Foundation Project | ||||
Series 2017 | ||||
03/01/2024 | 5.000% | 250,000 | 274,913 | |
03/01/2025 | 5.000% | 200,000 | 226,611 | |
Oregon State Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Reed College Project | ||||
Series 2017A | ||||
07/01/2032 | 4.000% | 250,000 | 292,657 | |
University of Portland | ||||
Series 2015A | ||||
04/01/2030 | 5.000% | 500,000 | 574,130 | |
04/01/2031 | 5.000% | 530,000 | 608,469 | |
Total | 5,346,481 | |||
Hospital 11.5% | ||||
Astoria Hospital Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Columbia Memorial Hospital | ||||
Series 2012 | ||||
08/01/2021 | 4.000% | 725,000 | 725,138 | |
08/01/2026 | 5.000% | 1,200,000 | 1,255,502 | |
08/01/2027 | 5.000% | 1,260,000 | 1,318,018 | |
08/01/2031 | 5.000% | 2,860,000 | 2,989,346 | |
Klamath Falls Intercommunity Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Sky Lakes Medical Center Project | ||||
Series 2012 | ||||
09/01/2022 | 5.000% | 500,000 | 525,498 | |
Series 2016 | ||||
09/01/2028 | 5.000% | 265,000 | 319,359 | |
09/01/2030 | 5.000% | 830,000 | 990,513 | |
09/01/2031 | 5.000% | 500,000 | 595,098 | |
09/01/2032 | 5.000% | 270,000 | 320,756 | |
Medford Hospital Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Asante Project | ||||
Series 2020A | ||||
08/15/2033 | 5.000% | 1,200,000 | 1,594,438 | |
08/15/2039 | 4.000% | 1,100,000 | 1,330,012 |
8 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Oregon Health & Science University | ||||
Refunding Revenue Bonds | ||||
Series 2016B | ||||
07/01/2034 | 5.000% | 7,500,000 | 9,048,369 | |
Series 2019A | ||||
07/01/2032 | 5.000% | 5,175,000 | 6,792,976 | |
Oregon State Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Legacy Health Project | ||||
Series 2016A | ||||
06/01/2033 | 5.000% | 1,600,000 | 1,918,532 | |
06/01/2034 | 5.000% | 3,185,000 | 3,814,061 | |
PeaceHealth Project | ||||
Series 2014A | ||||
11/15/2029 | 5.000% | 1,600,000 | 1,771,399 | |
Salem Hospital Facility Authority | ||||
Refunding Revenue Bonds | ||||
Salem Health Project | ||||
Series 2016A | ||||
05/15/2029 | 5.000% | 1,000,000 | 1,195,565 | |
05/15/2030 | 5.000% | 1,000,000 | 1,194,162 | |
05/15/2031 | 5.000% | 1,025,000 | 1,222,440 | |
Series 2019 | ||||
05/15/2037 | 5.000% | 2,305,000 | 2,941,648 | |
Total | 41,862,830 | |||
Local General Obligation 31.4% | ||||
Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2018A | ||||
06/15/2038 | 5.000% | 500,000 | 628,136 | |
Blue Mountain Community College District | ||||
Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
06/15/2029 | 4.000% | 1,000,000 | 1,136,274 | |
Boardman Park & Recreation District | ||||
Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
06/15/2035 | 5.250% | 3,400,000 | 3,768,080 | |
Canyonville South Umpqua Rural Fire Protection District | ||||
Unlimited General Obligation Bonds | ||||
Series 2001 | ||||
07/01/2031 | 5.400% | 610,000 | 612,343 | |
Central Oregon Community College | ||||
Limited General Obligation Bonds | ||||
Series 2014 | ||||
06/01/2029 | 5.000% | 500,000 | 564,527 | |
Unlimited General Obligation Bonds | ||||
Series 2010 | ||||
06/15/2024 | 4.750% | 2,580,000 | 2,585,747 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Chemeketa Community College District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2014 | ||||
06/15/2026 | 5.000% | 1,100,000 | 1,248,191 | |
Series 2015 | ||||
06/15/2026 | 4.000% | 1,745,000 | 1,992,772 | |
City of Hillsboro | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2012 | ||||
06/01/2025 | 4.000% | 1,875,000 | 1,934,815 | |
City of Lebanon | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
06/01/2026 | 5.000% | 1,675,000 | 1,965,130 | |
06/01/2027 | 5.000% | 1,715,000 | 2,006,351 | |
City of Madras | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2013 | ||||
02/15/2024 | 4.000% | 445,000 | 469,369 | |
02/15/2027 | 4.500% | 500,000 | 531,095 | |
City of Portland | ||||
Limited General Obligation Bonds | ||||
Limited Tax Sellwood Bridge Project | ||||
Series 2014 | ||||
06/01/2024 | 5.000% | 1,985,000 | 2,256,846 | |
Limited General Obligation Refunding Bonds | ||||
Series 2021A | ||||
06/01/2029 | 5.000% | 2,000,000 | 2,652,727 | |
Unlimited General Obligation Refunding Bonds | ||||
Public Safety Projects and Emergency Facilities | ||||
Series 2014 | ||||
06/15/2024 | 5.000% | 1,885,000 | 2,146,512 | |
City of Redmond | ||||
Limited General Obligation Bonds | ||||
Series 2014A | ||||
06/01/2027 | 5.000% | 685,000 | 773,195 | |
City of Salem | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017 | ||||
06/01/2030 | 4.000% | 2,000,000 | 2,360,746 | |
City of Sisters | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
12/01/2035 | 4.000% | 620,000 | 703,055 | |
Clackamas & Washington Counties School District No. 3 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020B | ||||
06/15/2028 | 5.000% | 275,000 | 355,241 | |
06/15/2029 | 5.000% | 435,000 | 574,741 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 9 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Clackamas Community College District(e) | ||||
Unlimited General Obligation Bonds | ||||
Convertible Deferred Interest | ||||
Series 2017A | ||||
06/15/2038 | 5.000% | 760,000 | 927,316 | |
Clackamas County School District No. 108 Estacada | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2005 (AGM) | ||||
06/15/2025 | 5.500% | 2,485,000 | 2,982,818 | |
Clackamas County School District No. 12 North Clackamas | ||||
Unlimited General Obligation Bonds | ||||
Series 2017B | ||||
06/15/2033 | 5.000% | 3,500,000 | 4,345,334 | |
Clatsop County School District No. 1-C | ||||
Unlimited General Obligation Bonds | ||||
Astoria | ||||
06/15/2035 | 5.000% | 1,000,000 | 1,296,908 | |
Clatsop County School District No. 30 Warrenton-Hammond(f) | ||||
Unlimited General Obligation Bonds | ||||
Deferred Interest | ||||
Series 2019 | ||||
06/15/2035 | 0.000% | 1,000,000 | 675,342 | |
Columbia County School District No. 502(f) | ||||
Unlimited General Obligation Bonds | ||||
Deferred Interest | ||||
Series 2020A | ||||
06/15/2033 | 0.000% | 300,000 | 240,598 | |
Coos County School District No. 9 Coos Bay | ||||
Unlimited General Obligation Bonds | ||||
Series 2018 | ||||
06/15/2034 | 5.000% | 500,000 | 631,161 | |
06/15/2035 | 5.000% | 1,000,000 | 1,264,298 | |
County of Clackamas | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020 | ||||
06/01/2030 | 4.000% | 1,030,000 | 1,302,010 | |
06/01/2031 | 4.000% | 1,060,000 | 1,327,909 | |
Deschutes & Jefferson Counties School District No. 2J Redmond(f) | ||||
Unlimited General Obligation Bonds | ||||
Series 2004B (NPFGC) | ||||
06/15/2022 | 0.000% | 2,335,000 | 2,332,488 | |
Deschutes & Jefferson Counties School District No. 2J Redmond | ||||
Unlimited General Obligation Bonds | ||||
Series 2021 | ||||
06/15/2038 | 4.000% | 650,000 | 811,134 | |
Hillsboro School District No. 1J | ||||
Unlimited General Obligation Bonds | ||||
Washington, Yamhill and Multnomah Counties | ||||
Series 2017 | ||||
06/15/2035 | 5.000% | 2,500,000 | 3,091,423 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020 | ||||
06/15/2029 | 5.000% | 550,000 | 725,701 | |
06/15/2038 | 4.000% | 2,500,000 | 3,060,513 | |
Jackson County School District No. 4(f) | ||||
Unlimited General Obligation Bonds | ||||
Series 2018A | ||||
06/15/2033 | 0.000% | 1,000,000 | 741,070 | |
Jackson County School District No. 5 Ashland | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
06/15/2036 | 5.000% | 3,000,000 | 3,880,653 | |
Jackson County School District No. 549C Medford | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
12/15/2023 | 5.000% | 1,000,000 | 1,115,781 | |
Jackson County School District No. 6 Central Point | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A | ||||
06/15/2036 | 4.000% | 1,145,000 | 1,380,674 | |
Klamath Falls City Schools | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015A | ||||
06/15/2028 | 4.000% | 500,000 | 569,441 | |
Lane Community College | ||||
Unlimited General Obligation Bonds | ||||
Series 2012 | ||||
06/15/2023 | 5.000% | 1,000,000 | 1,042,520 | |
Series 2020A | ||||
06/15/2033 | 4.000% | 1,000,000 | 1,250,085 | |
Lane County School District No. 1 Pleasant Hill(f) | ||||
Unlimited General Obligation Bonds | ||||
Series 2014B | ||||
06/15/2029 | 0.000% | 1,775,000 | 1,612,848 | |
Lane County School District No. 19 Springfield | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
06/15/2031 | 5.000% | 2,000,000 | 2,348,717 | |
Lane County School District No. 19 Springfield(f) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015B | ||||
06/15/2033 | 0.000% | 3,770,000 | 3,080,266 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2015D | ||||
06/15/2024 | 0.000% | 2,305,000 | 2,272,347 | |
06/15/2028 | 0.000% | 1,480,000 | 1,369,952 | |
Linn & Benton Counties School District No. 8J Greater Albany | ||||
Unlimited General Obligation Bonds | ||||
Series 2017 | ||||
06/15/2030 | 5.000% | 1,000,000 | 1,246,860 |
10 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Marion County School District No. 15 North Marion | ||||
Unlimited General Obligation Bonds | ||||
Series 2018B | ||||
06/15/2032 | 5.000% | 1,000,000 | 1,264,301 | |
06/15/2033 | 5.000% | 240,000 | 302,643 | |
Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow(f) | ||||
Unlimited General Obligation Bonds | ||||
Series 2017A | ||||
06/15/2033 | 0.000% | 4,000,000 | 2,893,600 | |
Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow | ||||
Unlimited General Obligation Bonds | ||||
Series 2017B | ||||
06/15/2031 | 5.000% | 3,000,000 | 3,745,310 | |
Multnomah County School District No. 1 Portland | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
06/15/2029 | 5.000% | 2,000,000 | 2,644,274 | |
Multnomah County School District No. 7 Reynolds(f) | ||||
Unlimited General Obligation Bonds | ||||
Deferred Interest | ||||
Series 2015B | ||||
06/15/2030 | 0.000% | 4,000,000 | 3,129,406 | |
Polk Marion & Benton Counties School District No. 13J Central | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
02/01/2027 | 4.000% | 750,000 | 845,510 | |
02/01/2028 | 4.000% | 1,000,000 | 1,125,372 | |
Portland Community College District | ||||
Unlimited General Obligation Bonds | ||||
Series 2018 | ||||
06/15/2029 | 5.000% | 1,000,000 | 1,215,363 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
06/15/2027 | 5.000% | 2,100,000 | 2,560,179 | |
Salem-Keizer School District No. 24J | ||||
Unlimited General Obligation Bonds | ||||
Series 2018 | ||||
06/15/2035 | 4.000% | 1,000,000 | 1,190,802 | |
Washington Clackamas & Yamhill Counties School District No. 88J(f) | ||||
Unlimited General Obligation Bonds | ||||
Deferred Interest | ||||
Series 2018A | ||||
06/15/2037 | 0.000% | 3,500,000 | 2,187,993 | |
Washington Clackamas & Yamhill Counties School District No. 88J | ||||
Unlimited General Obligation Bonds | ||||
Sherwood College | ||||
Series 2017B | ||||
06/15/2031 | 5.000% | 4,500,000 | 5,617,965 | |
Washington County School District No. 15 Forest Grove | ||||
Unlimited General Obligation Bonds | ||||
Series 2012A | ||||
06/15/2024 | 5.000% | 1,780,000 | 1,854,831 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Yamhill Clackamas & Washington Counties School District No. 29J Newberg | ||||
Unlimited General Obligation Bonds | ||||
Series 2021B | ||||
06/15/2028 | 4.000% | 2,000,000 | 2,444,952 | |
06/15/2029 | 4.000% | 2,000,000 | 2,485,012 | |
Total | 113,699,573 | |||
Multi-Family 1.2% | ||||
Oregon State Facilities Authority | ||||
Refunding Revenue Bonds | ||||
College Housing Northwest Project | ||||
Series 2013A | ||||
10/01/2022 | 4.000% | 875,000 | 903,979 | |
Oregon State Facilities Authority(d) | ||||
Revenue Bonds | ||||
College Housing Northwest Project | ||||
Series 2016A | ||||
10/01/2026 | 4.000% | 500,000 | 523,535 | |
10/01/2036 | 5.000% | 1,000,000 | 1,089,935 | |
State of Oregon Housing & Community Services Department | ||||
Revenue Bonds | ||||
Susan Emmons Apartment Project (The) | ||||
Series 2021 (HUD) (Mandatory Put 12/01/23) | ||||
06/01/2024 | 0.380% | 2,000,000 | 2,004,743 | |
Total | 4,522,192 | |||
Municipal Power 2.1% | ||||
Central Lincoln People’s Utility District JATC, Inc. | ||||
Revenue Bonds | ||||
Series 2016 | ||||
12/01/2033 | 5.000% | 350,000 | 415,771 | |
12/01/2034 | 5.000% | 400,000 | 474,601 | |
12/01/2035 | 5.000% | 410,000 | 485,694 | |
12/01/2036 | 5.000% | 440,000 | 520,612 | |
City of Eugene Electric Utility System | ||||
Revenue Bonds | ||||
Series 2017 | ||||
08/01/2029 | 5.000% | 530,000 | 664,777 | |
08/01/2030 | 5.000% | 420,000 | 524,690 | |
08/01/2031 | 5.000% | 450,000 | 559,772 | |
08/01/2032 | 5.000% | 250,000 | 310,317 | |
Northern Wasco County Peoples Utility District | ||||
Revenue Bonds | ||||
Series 2016 | ||||
12/01/2031 | 5.000% | 1,455,000 | 1,769,425 | |
12/01/2036 | 5.000% | 1,545,000 | 1,860,980 | |
Total | 7,586,639 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 11 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Other Bond Issue 0.8% | ||||
Oregon State Business Development Commission | ||||
Revenue Bonds | ||||
Intel Corp. Project | ||||
Series 2018-232 (Mandatory Put 08/14/23) | ||||
12/01/2040 | 2.400% | 2,000,000 | 2,083,483 | |
Warm Springs Reservation Confederated Tribe(d),(g) | ||||
Refunding Revenue Bonds | ||||
Green Bonds - Pelton-Round Butte Project | ||||
Series 2019 | ||||
11/01/2036 | 5.000% | 590,000 | 726,135 | |
Total | 2,809,618 | |||
Pool / Bond Bank 0.7% | ||||
Oregon State Bond Bank | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
01/01/2028 | 5.000% | 850,000 | 1,016,501 | |
01/01/2029 | 5.000% | 1,120,000 | 1,336,144 | |
Total | 2,352,645 | |||
Ports 0.8% | ||||
Port of Morrow | ||||
Limited General Obligation Refunding Bonds | ||||
Subordinated Series 2021D | ||||
12/01/2034 | 4.000% | 1,250,000 | 1,491,064 | |
12/01/2035 | 4.000% | 1,290,000 | 1,535,869 | |
Total | 3,026,933 | |||
Refunded / Escrowed 9.7% | ||||
City of Woodburn Wastewater | ||||
Refunding Revenue Bonds | ||||
Series 2011A Escrowed to Maturity | ||||
03/01/2022 | 5.000% | 4,620,000 | 4,749,353 | |
Clackamas County School District No. 12 North Clackamas | ||||
Prerefunded 06/15/24 Unlimited General Obligation Bonds | ||||
Series 2014 | ||||
06/15/2029 | 5.000% | 1,500,000 | 1,708,486 | |
Jefferson County School District No. 509J | ||||
Prerefunded 06/15/23 Unlimited General Obligation Bonds | ||||
Madras | ||||
Series 2013B | ||||
06/15/2028 | 5.000% | 2,095,000 | 2,284,740 | |
Oregon City School District No. 62 | ||||
Prerefunded 06/01/24 Unlimited General Obligation Refunding Revenue Bonds | ||||
School Building Guaranty | ||||
Series 2014 | ||||
06/01/2034 | 5.000% | 990,000 | 1,125,738 | |
06/01/2034 | 5.000% | 780,000 | 885,756 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Port of Morrow | ||||
Prerefunded 06/01/23 Limited General Obligation Bonds | ||||
Series 2016 | ||||
12/01/2027 | 5.000% | 615,000 | 669,540 | |
12/01/2028 | 5.000% | 645,000 | 702,201 | |
12/01/2029 | 5.000% | 340,000 | 370,152 | |
12/01/2030 | 5.000% | 335,000 | 364,709 | |
12/01/2031 | 5.000% | 375,000 | 408,256 | |
12/01/2036 | 5.000% | 1,160,000 | 1,262,873 | |
Puerto Rico Public Finance Corp.(g) | ||||
Unrefunded Revenue Bonds | ||||
Commonwealth Appropriation | ||||
Series 2002E Escrowed to Maturity | ||||
08/01/2026 | 6.000% | 5,000,000 | 6,287,223 | |
Umatilla County School District No. 16R Pendleton | ||||
Prerefunded 06/15/24 Unlimited General Obligation Bonds | ||||
Series 2014A | ||||
06/15/2030 | 5.000% | 1,110,000 | 1,264,280 | |
06/15/2031 | 5.000% | 2,890,000 | 3,291,683 | |
Union County School District No. 1 La Grande | ||||
Prerefunded 06/15/25 Unlimited General Obligation Bonds | ||||
Series 2015 | ||||
06/15/2030 | 4.000% | 1,000,000 | 1,144,209 | |
Washington & Multnomah Counties School District No. 48J Beaverton | ||||
Prerefunded 06/15/22 Unlimited General Obligation Bonds | ||||
Series 2012B | ||||
06/15/2023 | 4.000% | 4,090,000 | 4,229,600 | |
Prerefunded 06/15/24 Unlimited General Obligation Bonds | ||||
Series 2014 | ||||
06/15/2033 | 5.000% | 4,000,000 | 4,555,962 | |
Total | 35,304,761 | |||
Retirement Communities 3.5% | ||||
Clackamas County Hospital Facility Authority | ||||
Refunding Revenue Bonds | ||||
Rose Villa Project - TEMPS-50 | ||||
Series 2020 | ||||
11/15/2025 | 2.750% | 1,000,000 | 1,004,956 | |
Revenue Bonds | ||||
Mary’s Woods at Marylhurst, Inc. | ||||
Series 2018 | ||||
05/15/2038 | 5.000% | 220,000 | 241,965 | |
Hospital Facilities Authority of Multnomah County | ||||
Refunding Revenue Bonds | ||||
Mirabella at South Waterfront | ||||
Series 2014A | ||||
10/01/2034 | 5.125% | 4,000,000 | 4,371,945 | |
Terwilliger Plaza, Inc. | ||||
Series 2012 | ||||
12/01/2022 | 5.000% | 500,000 | 517,791 |
12 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2016 | ||||
12/01/2030 | 5.000% | 325,000 | 380,485 | |
12/01/2036 | 5.000% | 900,000 | 1,040,711 | |
Medford Hospital Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Rogue Valley Manor | ||||
Series 2013 | ||||
10/01/2022 | 5.000% | 625,000 | 658,119 | |
10/01/2023 | 5.000% | 645,000 | 707,965 | |
10/01/2024 | 5.000% | 455,000 | 499,215 | |
Salem Hospital Facility Authority | ||||
Revenue Bonds | ||||
Capital Manor Project | ||||
Series 2018 | ||||
05/15/2033 | 5.000% | 555,000 | 651,551 | |
05/15/2038 | 5.000% | 500,000 | 583,189 | |
Yamhill County Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Friendsview | ||||
Series 2021A | ||||
11/15/2036 | 5.000% | 1,220,000 | 1,475,280 | |
Friendsview Retirement Community | ||||
Series 2016 | ||||
11/15/2026 | 4.000% | 425,000 | 456,557 | |
Total | 12,589,729 | |||
Single Family 2.0% | ||||
State of Oregon Housing & Community Services Department | ||||
Revenue Bonds | ||||
Series 2017D | ||||
07/01/2032 | 3.150% | 2,425,000 | 2,606,253 | |
Series 2020A | ||||
07/01/2028 | 1.700% | 1,310,000 | 1,341,612 | |
01/01/2029 | 1.750% | 1,270,000 | 1,297,584 | |
Series 2020C | ||||
07/01/2035 | 2.000% | 2,000,000 | 2,056,585 | |
Total | 7,302,034 | |||
Special Non Property Tax 8.5% | ||||
Metro | ||||
Revenue Bonds | ||||
Convention Center Hotel | ||||
Series 2017 | ||||
06/15/2030 | 5.000% | 435,000 | 541,251 | |
06/15/2031 | 5.000% | 725,000 | 898,520 | |
06/15/2032 | 5.000% | 780,000 | 964,526 | |
Oregon State Lottery | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
04/01/2027 | 5.000% | 1,750,000 | 1,967,203 | |
Series 2015D | ||||
04/01/2027 | 5.000% | 2,500,000 | 2,917,991 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2019A | ||||
04/01/2036 | 5.000% | 1,000,000 | 1,281,965 | |
State of Oregon Department of Transportation | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017B | ||||
11/15/2026 | 5.000% | 4,000,000 | 4,951,794 | |
Senior Lien User Tax | ||||
Series 2017C | ||||
11/15/2026 | 5.000% | 1,000,000 | 1,237,948 | |
Subordinated Series 2019A | ||||
11/15/2036 | 5.000% | 2,000,000 | 2,635,341 | |
Revenue Bonds | ||||
Subordinated Series 2020A | ||||
11/15/2037 | 5.000% | 4,000,000 | 5,351,101 | |
Tri-County Metropolitan Transportation District of Oregon | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2016 | ||||
09/01/2031 | 4.000% | 1,000,000 | 1,164,630 | |
09/01/2032 | 4.000% | 1,250,000 | 1,452,350 | |
Revenue Bonds | ||||
Senior Lien Payroll Tax | ||||
Series 2017A | ||||
09/01/2032 | 5.000% | 1,595,000 | 1,949,397 | |
Series 2018A | ||||
09/01/2034 | 5.000% | 550,000 | 689,003 | |
09/01/2035 | 5.000% | 800,000 | 1,001,508 | |
Series 2019A | ||||
09/01/2037 | 5.000% | 1,500,000 | 1,953,299 | |
Total | 30,957,827 | |||
Special Property Tax 1.4% | ||||
City of Keizer | ||||
Special Assessment Bonds | ||||
Keizer Station Area | ||||
Series 2008A | ||||
06/01/2031 | 5.200% | 2,055,000 | 2,062,679 | |
City of Portland | ||||
Tax Allocation Bonds | ||||
Central Eastside | ||||
Series 2011B | ||||
06/15/2026 | 5.000% | 1,580,000 | 1,583,714 | |
06/15/2027 | 5.000% | 1,370,000 | 1,373,114 | |
Total | 5,019,507 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 13 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State General Obligation 4.6% | ||||
State of Oregon | ||||
Limited General Obligation Refunding Bonds | ||||
Veterans Welfare Bonds | ||||
Series 2020I | ||||
12/01/2030 | 1.950% | 555,000 | 582,986 | |
12/01/2031 | 2.000% | 450,000 | 469,108 | |
Unlimited General Obligation Bonds | ||||
Article XI-Q State Project | ||||
Series 2017A | ||||
05/01/2026 | 5.000% | 1,250,000 | 1,523,253 | |
Series 2015F | ||||
05/01/2030 | 5.000% | 5,565,000 | 6,505,488 | |
Series 2019 | ||||
06/01/2038 | 5.000% | 3,000,000 | 3,866,628 | |
Series 2019G | ||||
08/01/2033 | 5.000% | 1,320,000 | 1,731,152 | |
Unlimited General Obligation Notes | ||||
Higher Education | ||||
Series 2016C | ||||
08/01/2033 | 5.000% | 750,000 | 913,087 | |
Series 2016A | ||||
08/01/2031 | 3.500% | 500,000 | 556,583 | |
08/01/2032 | 3.500% | 500,000 | 554,264 | |
Total | 16,702,549 | |||
Transportation 3.3% | ||||
Tri-County Metropolitan Transportation District of Oregon | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
10/01/2026 | 5.000% | 1,235,000 | 1,508,973 | |
10/01/2027 | 5.000% | 1,485,000 | 1,860,654 | |
Revenue Bonds | ||||
Series 2018A | ||||
10/01/2032 | 5.000% | 6,800,000 | 8,420,439 | |
Total | 11,790,066 | |||
Water & Sewer 6.5% | ||||
City of Albany | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2013 | ||||
08/01/2022 | 4.000% | 1,240,000 | 1,288,090 | |
08/01/2023 | 4.000% | 1,290,000 | 1,387,451 | |
City of Beaverton Water | ||||
Revenue Bonds | ||||
Series 2018 | ||||
04/01/2034 | 5.000% | 1,125,000 | 1,413,954 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Bend Sewer | ||||
Revenue Bonds | ||||
Series 2020 | ||||
05/01/2039 | 5.000% | 1,390,000 | 1,827,951 | |
City of Eugene Water Utility System | ||||
Refunding Revenue Bonds | ||||
Utility System | ||||
Series 2016 | ||||
08/01/2032 | 4.000% | 500,000 | 579,470 | |
City of Portland Water System | ||||
Refunding Revenue Bonds | ||||
1st Lien | ||||
Series 2016A | ||||
04/01/2030 | 4.000% | 7,375,000 | 8,490,602 | |
Subordinated Series 2021B | ||||
05/01/2028 | 5.000% | 1,000,000 | 1,288,576 | |
05/01/2029 | 5.000% | 1,000,000 | 1,320,278 | |
Revenue Bonds | ||||
Series 2014A | ||||
05/01/2028 | 4.000% | 3,390,000 | 3,726,295 | |
City of Springfield Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
04/01/2025 | 4.000% | 200,000 | 226,646 | |
04/01/2026 | 4.000% | 250,000 | 290,626 | |
04/01/2027 | 4.000% | 270,000 | 320,526 | |
Clackamas River Water | ||||
Revenue Bonds | ||||
Series 2016 | ||||
11/01/2032 | 5.000% | 200,000 | 232,826 | |
11/01/2033 | 5.000% | 265,000 | 308,280 | |
11/01/2034 | 5.000% | 250,000 | 290,527 | |
11/01/2035 | 5.000% | 225,000 | 261,111 | |
11/01/2036 | 5.000% | 200,000 | 231,777 | |
Total | 23,484,986 | |||
Total Municipal Bonds (Cost $320,921,605) | 344,689,178 |
14 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Money Market Funds 3.5% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(h) | 214,468 | 214,446 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(h) | 12,592,352 | 12,592,352 |
Total Money Market Funds (Cost $12,806,819) | 12,806,798 | |
Total Investments in Securities (Cost: $336,328,424) | 360,095,976 | |
Other Assets & Liabilities, Net | 2,527,025 | |
Net Assets | 362,623,001 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of July 31, 2021. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | 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 July 31, 2021, the total value of these securities amounted to $3,152,430, which represents 0.87% of total net assets. |
(e) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of July 31, 2021. |
(f) | Zero coupon bond. |
(g) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At July 31, 2021, the total value of these securities amounted to $7,013,358, which represents 1.93% of total net assets. |
(h) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
HUD | Department of Housing and Urban Development |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 15 |
July 31, 2021
Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 2,600,000 | — | 2,600,000 |
Municipal Bonds | — | 344,689,178 | — | 344,689,178 |
Money Market Funds | 12,806,798 | — | — | 12,806,798 |
Total Investments in Securities | 12,806,798 | 347,289,178 | — | 360,095,976 |
16 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $336,328,424) | $360,095,976 |
Cash | 8,274 |
Receivable for: | |
Capital shares sold | 508,106 |
Interest | 2,825,206 |
Expense reimbursement due from Investment Manager | 269 |
Prepaid expenses | 6,566 |
Trustees’ deferred compensation plan | 125,438 |
Total assets | 363,569,835 |
Liabilities | |
Payable for: | |
Capital shares purchased | 158,899 |
Distributions to shareholders | 608,260 |
Management services fees | 4,651 |
Distribution and/or service fees | 398 |
Transfer agent fees | 24,603 |
Compensation of board members | 5,005 |
Compensation of chief compliance officer | 10 |
Other expenses | 19,570 |
Trustees’ deferred compensation plan | 125,438 |
Total liabilities | 946,834 |
Net assets applicable to outstanding capital stock | $362,623,001 |
Represented by | |
Paid in capital | 338,538,035 |
Total distributable earnings (loss) | 24,084,966 |
Total - representing net assets applicable to outstanding capital stock | $362,623,001 |
Class A | |
Net assets | $44,606,359 |
Shares outstanding | 3,512,524 |
Net asset value per share | $12.70 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $13.09 |
Advisor Class | |
Net assets | $3,238,090 |
Shares outstanding | 254,930 |
Net asset value per share | $12.70 |
Class C | |
Net assets | $4,872,672 |
Shares outstanding | 383,695 |
Net asset value per share | $12.70 |
Institutional Class | |
Net assets | $266,297,904 |
Shares outstanding | 20,970,066 |
Net asset value per share | $12.70 |
Institutional 2 Class | |
Net assets | $33,366,434 |
Shares outstanding | 2,631,719 |
Net asset value per share | $12.68 |
Institutional 3 Class | |
Net assets | $10,241,542 |
Shares outstanding | 805,411 |
Net asset value per share | $12.72 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 17 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $4,343 |
Interest | 9,338,017 |
Total income | 9,342,360 |
Expenses: | |
Management services fees | 1,668,598 |
Distribution and/or service fees | |
Class A | 111,005 |
Class C | 56,788 |
Transfer agent fees | |
Class A | 39,845 |
Advisor Class | 2,414 |
Class C | 5,091 |
Institutional Class | 236,863 |
Institutional 2 Class | 17,238 |
Institutional 3 Class | 608 |
Compensation of board members | 20,275 |
Custodian fees | 2,264 |
Printing and postage fees | 16,769 |
Registration fees | 13,192 |
Audit fees | 29,500 |
Legal fees | 12,438 |
Compensation of chief compliance officer | 105 |
Other | 18,210 |
Total expenses | 2,251,203 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (102,334) |
Fees waived by distributor | |
Class C | (17,051) |
Expense reduction | (400) |
Total net expenses | 2,131,418 |
Net investment income | 7,210,942 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 25,280 |
Net realized gain | 25,280 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (1,567,752) |
Net change in unrealized appreciation (depreciation) | (1,567,752) |
Net realized and unrealized loss | (1,542,472) |
Net increase in net assets resulting from operations | $5,668,470 |
18 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $7,210,942 | $8,343,031 |
Net realized gain | 25,280 | 920,668 |
Net change in unrealized appreciation (depreciation) | (1,567,752) | 6,367,463 |
Net increase in net assets resulting from operations | 5,668,470 | 15,631,162 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (925,372) | (1,005,535) |
Advisor Class | (62,877) | (51,381) |
Class C | (93,304) | (138,982) |
Institutional Class | (6,162,182) | (6,779,444) |
Institutional 2 Class | (723,876) | (620,481) |
Institutional 3 Class | (213,859) | (190,874) |
Total distributions to shareholders | (8,181,470) | (8,786,697) |
Increase (decrease) in net assets from capital stock activity | 11,747,514 | (11,132,666) |
Total increase (decrease) in net assets | 9,234,514 | (4,288,201) |
Net assets at beginning of year | 353,388,487 | 357,676,688 |
Net assets at end of year | $362,623,001 | $353,388,487 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 19 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 715,810 | 9,089,451 | 739,910 | 9,318,043 |
Distributions reinvested | 70,270 | 890,456 | 77,816 | 978,934 |
Redemptions | (859,891) | (10,921,882) | (759,216) | (9,471,398) |
Net increase (decrease) | (73,811) | (941,975) | 58,510 | 825,579 |
Advisor Class | ||||
Subscriptions | 71,018 | 900,785 | 87,817 | 1,061,939 |
Distributions reinvested | 4,962 | 62,877 | 4,083 | 51,377 |
Redemptions | (9,880) | (124,988) | (56,332) | (696,417) |
Net increase | 66,100 | 838,674 | 35,568 | 416,899 |
Class C | ||||
Subscriptions | 44,033 | 557,658 | 128,825 | 1,624,134 |
Distributions reinvested | 7,229 | 91,633 | 10,118 | 127,257 |
Redemptions | (194,527) | (2,471,232) | (285,416) | (3,571,044) |
Net decrease | (143,265) | (1,821,941) | (146,473) | (1,819,653) |
Institutional Class | ||||
Subscriptions | 1,580,881 | 20,062,241 | 1,504,001 | 18,895,837 |
Distributions reinvested | 375,671 | 4,760,339 | 416,378 | 5,238,328 |
Redemptions | (1,874,015) | (23,759,540) | (2,657,222) | (33,036,148) |
Net increase (decrease) | 82,537 | 1,063,040 | (736,843) | (8,901,983) |
Institutional 2 Class | ||||
Subscriptions | 1,164,410 | 14,768,697 | 398,098 | 5,005,976 |
Distributions reinvested | 57,227 | 723,871 | 49,386 | 620,290 |
Redemptions | (413,551) | (5,232,171) | (654,817) | (8,156,321) |
Net increase (decrease) | 808,086 | 10,260,397 | (207,333) | (2,530,055) |
Institutional 3 Class | ||||
Subscriptions | 228,471 | 2,901,112 | 157,803 | 1,986,828 |
Distributions reinvested | 10,744 | 136,339 | 9,172 | 115,563 |
Redemptions | (54,214) | (688,132) | (97,494) | (1,225,844) |
Net increase | 185,001 | 2,349,319 | 69,481 | 876,547 |
Total net increase (decrease) | 924,648 | 11,747,514 | (927,090) | (11,132,666) |
20 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 21 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $12.79 | 0.23 | (0.06) | 0.17 | (0.23) | (0.03) | (0.26) |
Year Ended 7/31/2020 | $12.52 | 0.27 | 0.29 | 0.56 | (0.27) | (0.02) | (0.29) |
Year Ended 7/31/2019 | $12.14 | 0.30 | 0.41 | 0.71 | (0.31) | (0.02) | (0.33) |
Year Ended 7/31/2018 | $12.45 | 0.31 | (0.31) | 0.00(d) | (0.31) | — | (0.31) |
Year Ended 7/31/2017 | $12.82 | 0.32 | (0.37) | (0.05) | (0.32) | — | (0.32) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $12.79 | 0.26 | (0.05) | 0.21 | (0.27) | (0.03) | (0.30) |
Year Ended 7/31/2020 | $12.52 | 0.30 | 0.29 | 0.59 | (0.30) | (0.02) | (0.32) |
Year Ended 7/31/2019 | $12.14 | 0.33 | 0.41 | 0.74 | (0.34) | (0.02) | (0.36) |
Year Ended 7/31/2018 | $12.45 | 0.34 | (0.31) | 0.03 | (0.34) | — | (0.34) |
Year Ended 7/31/2017 | $12.82 | 0.35 | (0.37) | (0.02) | (0.35) | — | (0.35) |
Class C | |||||||
Year Ended 7/31/2021 | $12.79 | 0.17 | (0.05) | 0.12 | (0.18) | (0.03) | (0.21) |
Year Ended 7/31/2020 | $12.52 | 0.22 | 0.28 | 0.50 | (0.21) | (0.02) | (0.23) |
Year Ended 7/31/2019 | $12.14 | 0.25 | 0.40 | 0.65 | (0.25) | (0.02) | (0.27) |
Year Ended 7/31/2018 | $12.45 | 0.25 | (0.31) | (0.06) | (0.25) | — | (0.25) |
Year Ended 7/31/2017 | $12.83 | 0.26 | (0.38) | (0.12) | (0.26) | — | (0.26) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $12.79 | 0.26 | (0.05) | 0.21 | (0.27) | (0.03) | (0.30) |
Year Ended 7/31/2020 | $12.52 | 0.30 | 0.29 | 0.59 | (0.30) | (0.02) | (0.32) |
Year Ended 7/31/2019 | $12.14 | 0.33 | 0.41 | 0.74 | (0.34) | (0.02) | (0.36) |
Year Ended 7/31/2018 | $12.45 | 0.34 | (0.31) | 0.03 | (0.34) | — | (0.34) |
Year Ended 7/31/2017 | $12.82 | 0.35 | (0.37) | (0.02) | (0.35) | — | (0.35) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $12.77 | 0.26 | (0.05) | 0.21 | (0.27) | (0.03) | (0.30) |
Year Ended 7/31/2020 | $12.51 | 0.31 | 0.27 | 0.58 | (0.30) | (0.02) | (0.32) |
Year Ended 7/31/2019 | $12.12 | 0.34 | 0.41 | 0.75 | (0.34) | (0.02) | (0.36) |
Year Ended 7/31/2018 | $12.43 | 0.34 | (0.31) | 0.03 | (0.34) | — | (0.34) |
Year Ended 7/31/2017 | $12.81 | 0.35 | (0.38) | (0.03) | (0.35) | — | (0.35) |
22 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 7/31/2021 | $12.70 | 1.38% | 0.84% | 0.81%(c) | 1.81% | 5% | $44,606 |
Year Ended 7/31/2020 | $12.79 | 4.52% | 0.84% | 0.81%(c) | 2.16% | 9% | $45,868 |
Year Ended 7/31/2019 | $12.52 | 5.94% | 0.84% | 0.83% | 2.49% | 8% | $44,185 |
Year Ended 7/31/2018 | $12.14 | 0.01% | 0.84% | 0.84%(c) | 2.53% | 10% | $39,896 |
Year Ended 7/31/2017 | $12.45 | (0.39%) | 0.83%(e) | 0.83%(c),(e) | 2.53% | 15% | $43,387 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $12.70 | 1.63% | 0.59% | 0.56%(c) | 2.06% | 5% | $3,238 |
Year Ended 7/31/2020 | $12.79 | 4.78% | 0.59% | 0.56%(c) | 2.40% | 9% | $2,415 |
Year Ended 7/31/2019 | $12.52 | 6.21% | 0.59% | 0.57% | 2.73% | 8% | $1,919 |
Year Ended 7/31/2018 | $12.14 | 0.25% | 0.59% | 0.59%(c) | 2.78% | 10% | $660 |
Year Ended 7/31/2017 | $12.45 | (0.14%) | 0.59%(e) | 0.59%(c),(e) | 2.80% | 15% | $664 |
Class C | |||||||
Year Ended 7/31/2021 | $12.70 | 0.92% | 1.59% | 1.26%(c) | 1.36% | 5% | $4,873 |
Year Ended 7/31/2020 | $12.79 | 4.05% | 1.59% | 1.26%(c) | 1.72% | 9% | $6,740 |
Year Ended 7/31/2019 | $12.52 | 5.46% | 1.59% | 1.28% | 2.05% | 8% | $8,434 |
Year Ended 7/31/2018 | $12.14 | (0.44%) | 1.59% | 1.29%(c) | 2.07% | 10% | $14,530 |
Year Ended 7/31/2017 | $12.45 | (0.91%) | 1.58%(e) | 1.28%(c),(e) | 2.09% | 15% | $24,330 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $12.70 | 1.63% | 0.59% | 0.56%(c) | 2.06% | 5% | $266,298 |
Year Ended 7/31/2020 | $12.79 | 4.78% | 0.59% | 0.56%(c) | 2.41% | 9% | $267,135 |
Year Ended 7/31/2019 | $12.52 | 6.20% | 0.59% | 0.58% | 2.74% | 8% | $270,831 |
Year Ended 7/31/2018 | $12.14 | 0.25% | 0.59% | 0.59%(c) | 2.77% | 10% | $293,485 |
Year Ended 7/31/2017 | $12.45 | (0.14%) | 0.58%(e) | 0.58%(c),(e) | 2.79% | 15% | $333,321 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $12.68 | 1.67% | 0.56% | 0.53% | 2.10% | 5% | $33,366 |
Year Ended 7/31/2020 | $12.77 | 4.73% | 0.56% | 0.53% | 2.45% | 9% | $23,286 |
Year Ended 7/31/2019 | $12.51 | 6.33% | 0.56% | 0.54% | 2.77% | 8% | $25,397 |
Year Ended 7/31/2018 | $12.12 | 0.28% | 0.56% | 0.56% | 2.80% | 10% | $31,451 |
Year Ended 7/31/2017 | $12.43 | (0.18%) | 0.55%(e) | 0.55%(e) | 2.85% | 15% | $42,681 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $12.81 | 0.27 | (0.05) | 0.22 | (0.28) | (0.03) | (0.31) |
Year Ended 7/31/2020 | $12.54 | 0.31 | 0.29 | 0.60 | (0.31) | (0.02) | (0.33) |
Year Ended 7/31/2019 | $12.15 | 0.34 | 0.42 | 0.76 | (0.35) | (0.02) | (0.37) |
Year Ended 7/31/2018 | $12.47 | 0.35 | (0.32) | 0.03 | (0.35) | — | (0.35) |
Year Ended 7/31/2017(f) | $12.30 | 0.15 | 0.17(g) | 0.32 | (0.15) | — | (0.15) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Rounds to zero. |
(e) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Advisor Class | Class C | Institutional Class | Institutional 2 Class |
07/31/2017 | 0.02% | 0.01% | 0.02% | 0.02% | 0.01% |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | 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. |
(h) | Annualized. |
24 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $12.72 | 1.72% | 0.51% | 0.48% | 2.14% | 5% | $10,242 |
Year Ended 7/31/2020 | $12.81 | 4.86% | 0.51% | 0.48% | 2.49% | 9% | $7,945 |
Year Ended 7/31/2019 | $12.54 | 6.37% | 0.51% | 0.49% | 2.82% | 8% | $6,909 |
Year Ended 7/31/2018 | $12.15 | 0.26% | 0.51% | 0.51% | 2.90% | 10% | $3,871 |
Year Ended 7/31/2017(f) | $12.47 | 2.59% | 0.53%(h) | 0.53%(h) | 2.84%(h) | 15% | $10 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 25 |
July 31, 2021
26 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 27 |
July 31, 2021
28 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 45,851 |
Class C | — | 1.00(b) | 169 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 29 |
July 31, 2021
Fee rate(s) contractual through November 30, 2021 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 2 Class | 0.53 |
Institutional 3 Class | 0.48 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(4,625) | 4,625 | — |
30 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
28 | 7,245,249 | 936,193 | 8,181,470 | 52,114 | 8,287,290 | 447,293 | 8,786,697 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 1,055,044 | — | — | 23,767,552 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
336,328,424 | 23,822,585 | (55,033) | 23,767,552 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
July 31, 2021
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 33 |
July 31, 2021
34 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 35 |
Capital gain dividend | Exempt- interest dividends |
$26,545 | 99.99% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
36 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
38 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
40 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Petersen, who is Senior Vice President and Assistant Secretary, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 41 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | 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. |
42 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
• | 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 Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 43 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
44 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 | 45 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
46 | Columbia Oregon Intermediate Municipal Bond Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
33 | |
34 | |
35 | |
38 | |
42 | |
54 | |
55 | |
55 | |
61 | |
62 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/21/78 | 5.74 | 3.25 | 4.52 |
Including sales charges | 2.55 | 2.62 | 4.20 | ||
Advisor Class* | 03/19/13 | 5.88 | 3.44 | 4.69 | |
Class C | Excluding sales charges | 08/01/97 | 5.03 | 2.59 | 3.88 |
Including sales charges | 4.03 | 2.59 | 3.88 | ||
Institutional Class | 09/16/05 | 5.95 | 3.45 | 4.73 | |
Institutional 2 Class* | 12/11/13 | 5.97 | 3.47 | 4.70 | |
Institutional 3 Class* | 03/01/17 | 6.01 | 3.48 | 4.63 | |
Bloomberg Barclays Municipal Bond Index | 3.29 | 3.41 | 4.27 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Tax-Exempt Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at July 31, 2021) | |
AAA rating | 5.7 |
AA rating | 20.6 |
A rating | 39.4 |
BBB rating | 20.6 |
BB rating | 4.1 |
B rating | 0.1 |
D rating | 0.5 |
Not rated | 9.0 |
Total | 100.0 |
Top Ten States/Territories (%) (at July 31, 2021) | |
Illinois | 11.8 |
Texas | 8.6 |
California | 8.2 |
Pennsylvania | 8.1 |
Florida | 5.8 |
New York | 4.8 |
Michigan | 4.6 |
Minnesota | 4.3 |
Colorado | 4.1 |
New Jersey | 3.3 |
4 | Columbia Tax-Exempt Fund | Annual Report 2021 |
• | Issue selection within and having overweighted allocations to the continuing care retirement communities (CCRC), hospital, toll road, airport and charter school sectors contributed most positively to the Fund’s performance during the period. These were sectors that had been severely impacted during the COVID-19 pandemic-induced sell-off in the spring of 2020 and were slow to recover until approved vaccinations helped open the economy and direct federal stimulus proceeds helped shore up fundamentals. |
• | Security selection among state and local general obligation bonds also boosted relative results, attributable mostly to exposure to Illinois state general obligation bonds and Chicago issuers. |
• | Security selection was also additive in the special tax (particularly certain Puerto Rico holdings), electric, and water and sewer sectors. |
• | Credit quality allocation positioning overall added value, especially overweights to BBB-rated and A-rated municipal bonds, underweights to AAA-rated and AA-rated municipal bonds and exposure to below-investment-grade municipal bonds. During the period, lower quality portions of the municipal bond market generally outperformed higher quality segments. |
• | Yield curve positioning helped, as the Fund was overweight bonds with maturities of 15 years and longer and underweight bonds with maturities of one to 10 years. Longer term municipal bonds outpaced shorter term municipal issues during the period. |
• | Having an overweight to the housing sector detracted, as its more defensive structure led to relatively weak returns. |
Columbia Tax-Exempt Fund | Annual Report 2021 | 5 |
• | Having an underweight to the stronger industrial development revenue/pollution control revenue (IDR/PCR) sector also dampened the Fund’s relative results. |
• | A holding in a non-rated nursing home issue detracted, disappointing on weakening credit fundamentals. |
6 | Columbia Tax-Exempt Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,024.60 | 1,021.34 | 3.63 | 3.63 | 0.72 |
Advisor Class | 1,000.00 | 1,000.00 | 1,024.90 | 1,022.34 | 2.63 | 2.62 | 0.52 |
Class C | 1,000.00 | 1,000.00 | 1,020.80 | 1,018.35 | 6.65 | 6.64 | 1.32 |
Institutional Class | 1,000.00 | 1,000.00 | 1,025.60 | 1,022.34 | 2.63 | 2.62 | 0.52 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,025.80 | 1,022.44 | 2.53 | 2.52 | 0.50 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,025.90 | 1,022.59 | 2.37 | 2.37 | 0.47 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 7 |
July 31, 2021
Exchange-Traded Fixed Income Funds 0.2% | ||
Shares | Value ($) | |
United States 0.2% | ||
Columbia Multi-Sector Municipal Income ETF(a) | 274,473 | 6,252,495 |
Total Exchange-Traded Fixed Income Funds (Cost $5,972,532) | 6,252,495 |
Floating Rate Notes 0.2% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
New Hampshire 0.0% | ||||
New Hampshire Health & Education Facilities Authority Act(b),(c) | ||||
Revenue Bonds | ||||
University of New Hampshire | ||||
Series 2012B-2 (Wells Fargo Bank) | ||||
07/01/2033 | 0.030% | 405,000 | 405,000 | |
New York 0.2% | ||||
New York City Transitional Finance Authority(b),(c) | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2012C (JPMorgan Chase Bank) | ||||
11/01/2036 | 0.030% | 2,520,000 | 2,520,000 | |
New York City Water & Sewer System(b),(c) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013 (JPMorgan Chase Bank) | ||||
06/15/2050 | 0.030% | 3,000,000 | 3,000,000 | |
Total | 5,520,000 | |||
Total Floating Rate Notes (Cost $5,925,000) | 5,925,000 | |||
Municipal Bonds 99.0% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 0.6% | ||||
Black Belt Energy Gas District | ||||
Refunding Revenue Bonds | ||||
Series 2021 (Mandatory Put 12/01/31) | ||||
06/01/2051 | 4.000% | 10,000,000 | 12,593,018 | |
Lower Alabama Gas District (The) | ||||
Revenue Bonds | ||||
Series 2016A | ||||
09/01/2046 | 5.000% | 5,000,000 | 7,701,546 | |
Total | 20,294,564 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alaska 0.1% | ||||
Northern Tobacco Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2021A Class 1 | ||||
06/01/2050 | 4.000% | 2,500,000 | 2,966,112 | |
Series 2021B-1 Class 2 | ||||
06/01/2050 | 4.000% | 1,000,000 | 1,174,694 | |
Total | 4,140,806 | |||
Arizona 1.2% | ||||
Arizona Board of Regents | ||||
Revenue Bonds | ||||
Series 2020A | ||||
07/01/2032 | 5.000% | 700,000 | 938,267 | |
07/01/2033 | 5.000% | 700,000 | 935,196 | |
07/01/2034 | 5.000% | 1,000,000 | 1,332,724 | |
Arizona Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Scottsdale Lincoln Hospital Project | ||||
Series 2014 | ||||
12/01/2042 | 5.000% | 7,000,000 | 7,997,872 | |
Arizona Industrial Development Authority | ||||
Revenue Bonds | ||||
Great Lakes Senior Living Community | ||||
Series 2019 | ||||
01/01/2039 | 4.250% | 1,000,000 | 1,027,715 | |
01/01/2040 | 4.250% | 750,000 | 769,241 | |
Lincoln South Beltway Project | ||||
Series 2020 | ||||
11/01/2030 | 5.000% | 1,350,000 | 1,809,936 | |
11/01/2031 | 5.000% | 5,000,000 | 6,845,489 | |
Phoenix Children’s Hospital | ||||
Series 2020 | ||||
02/01/2036 | 5.000% | 1,200,000 | 1,559,900 | |
02/01/2038 | 5.000% | 1,020,000 | 1,319,460 | |
Industrial Development Authority of the City of Phoenix (The) | ||||
Revenue Bonds | ||||
Downtown Student Housing II LLC - Arizona State University Project | ||||
Series 2019 | ||||
07/01/2044 | 5.000% | 1,000,000 | 1,216,036 | |
07/01/2049 | 5.000% | 1,125,000 | 1,361,639 | |
Industrial Development Authority of the County of Yavapai (The) | ||||
Refunding Revenue Bonds | ||||
Yavapai Regional Medical Center | ||||
Series 2019 | ||||
08/01/2038 | 4.000% | 1,000,000 | 1,175,911 |
8 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
La Paz County Industrial Development Authority | ||||
Revenue Bonds | ||||
Charter School Solutions - Harmony Public Schools Project | ||||
Series 2018 | ||||
02/15/2038 | 5.000% | 825,000 | 982,946 | |
Maricopa County Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Christian Care Surprise, Inc. Project | ||||
Series 2016 | ||||
01/01/2036 | 5.750% | 2,000,000 | 2,101,463 | |
Salt Verde Financial Corp. | ||||
Revenue Bonds | ||||
Series 2007 | ||||
12/01/2032 | 5.000% | 7,170,000 | 9,601,767 | |
Total | 40,975,562 | |||
Arkansas 0.1% | ||||
Pulaski County Public Facilities Board | ||||
Prerefunded 12/01/24 Revenue Bonds | ||||
Series 2014 | ||||
12/01/2039 | 5.000% | 4,000,000 | 4,626,360 | |
California 8.2% | ||||
ABAG Finance Authority for Nonprofit Corps. | ||||
Refunding Revenue Bonds | ||||
Episcopal Senior Communities | ||||
Series 2011 | ||||
07/01/2041 | 6.125% | 7,015,000 | 7,039,088 | |
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Sutter Health | ||||
Series 2016B | ||||
11/15/2041 | 4.000% | 10,000,000 | 11,433,380 | |
Revenue Bonds | ||||
Kaiser Permanente | ||||
Subordinated Series 2017A-2 | ||||
11/01/2044 | 4.000% | 10,000,000 | 11,655,226 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2017A | ||||
02/01/2036 | 5.000% | 1,500,000 | 1,824,922 | |
02/01/2037 | 5.000% | 1,000,000 | 1,213,170 | |
California Municipal Finance Authority(d),(e),(f) | ||||
Revenue Bonds | ||||
UTS Renewable Energy-Waste Water Facilities | ||||
Series 2011 | ||||
12/01/2032 | 0.000% | 1,830,000 | 36,600 | |
California Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Sharp Healthcare | ||||
Series 2017A | ||||
08/01/2047 | 4.000% | 10,000,000 | 11,389,157 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California School Finance Authority(d) | ||||
Revenue Bonds | ||||
River Springs Charter School Project | ||||
Series 2015 | ||||
07/01/2046 | 6.375% | 150,000 | 172,310 | |
California State Public Works Board | ||||
Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2012A | ||||
04/01/2037 | 5.000% | 4,660,000 | 4,811,499 | |
Various Correctional Facilities | ||||
Series 2014A | ||||
09/01/2039 | 5.000% | 7,000,000 | 7,934,102 | |
California Statewide Communities Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
899 Charleston Project | ||||
Series 2014A | ||||
11/01/2029 | 5.000% | 1,650,000 | 1,812,892 | |
11/01/2034 | 5.000% | 3,700,000 | 4,027,426 | |
Revenue Bonds | ||||
California Baptist University | ||||
Series 2014A | ||||
11/01/2033 | 6.125% | 1,560,000 | 1,741,051 | |
11/01/2043 | 6.375% | 1,035,000 | 1,151,036 | |
Lancer Plaza Project | ||||
Series 2013 | ||||
11/01/2043 | 5.875% | 1,875,000 | 2,055,771 | |
California Statewide Communities Development Authority | ||||
Revenue Bonds | ||||
Loma Linda University Medical Center | ||||
Series 2014 | ||||
12/01/2044 | 5.250% | 3,500,000 | 3,972,408 | |
Castaic Lake Water Agency(g) | ||||
Certificate of Participation | ||||
Capital Appreciation-Water System Improvement Project | ||||
Series 1999 (AMBAC) | ||||
08/01/2024 | 0.000% | 9,445,000 | 9,294,326 | |
Chino Public Financing Authority | ||||
Prerefunded 09/01/22 Special Tax Bonds | ||||
Series 2012 | ||||
09/01/2025 | 5.000% | 790,000 | 830,804 | |
09/01/2026 | 5.000% | 1,230,000 | 1,293,530 | |
09/01/2027 | 5.000% | 1,280,000 | 1,346,112 | |
City of Los Angeles Department of Airports(e) | ||||
Revenue Bonds | ||||
Senior Series 2020C | ||||
05/15/2031 | 5.000% | 9,000,000 | 11,887,907 | |
05/15/2045 | 5.000% | 16,245,000 | 20,651,352 | |
Subordinated Series 2017A | ||||
05/15/2042 | 5.000% | 4,375,000 | 5,345,926 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 9 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Pomona | ||||
Refunding Revenue Bonds | ||||
Mortgage-Backed Securities | ||||
Series 1990A Escrowed to Maturity (GNMA / FNMA) | ||||
05/01/2023 | 7.600% | 1,900,000 | 2,036,843 | |
Foothill-Eastern Transportation Corridor Agency | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2021A | ||||
01/15/2046 | 4.000% | 19,431,000 | 23,225,888 | |
Golden State Tobacco Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018A-1 | ||||
06/01/2047 | 5.000% | 1,000,000 | 1,032,456 | |
Series 2018A-2 | ||||
06/01/2047 | 5.000% | 9,500,000 | 9,808,332 | |
Los Angeles County Schools Regionalized Business Services Corp.(g) | ||||
Certificate of Participation | ||||
Capital Appreciation-Pooled Financing | ||||
Series 1999A (AMBAC) | ||||
08/01/2022 | 0.000% | 2,180,000 | 2,167,110 | |
Los Angeles Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020RYQ | ||||
07/01/2032 | 5.000% | 3,500,000 | 4,723,208 | |
Norwalk-La Mirada Unified School District(g) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation | ||||
Series 2005B (NPFGC) | ||||
08/01/2023 | 0.000% | 9,790,000 | 9,719,493 | |
Palomar Health | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
11/01/2036 | 5.000% | 4,605,000 | 5,454,440 | |
San Francisco City & County Airport Commission - San Francisco International Airport(e) | ||||
Revenue Bonds | ||||
Series 2019E | ||||
05/01/2050 | 5.000% | 10,000,000 | 12,403,687 | |
Unrefunded Revenue Bonds | ||||
Series 2014A | ||||
05/01/2044 | 5.000% | 24,000,000 | 26,779,958 | |
State of California | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
04/01/2032 | 5.000% | 5,000,000 | 6,527,982 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2017A-2 | ||||
08/01/2030 | 5.000% | 5,080,000 | 6,390,376 | |
Series 2020 | ||||
11/01/2036 | 4.000% | 4,000,000 | 4,979,158 | |
11/01/2037 | 4.000% | 9,600,000 | 11,895,356 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Various Purpose | ||||
Series 2020 | ||||
03/01/2033 | 5.000% | 7,765,000 | 10,314,127 | |
Unrefunded Unlimited General Obligation Bonds | ||||
Series 2004 | ||||
04/01/2029 | 5.300% | 6,000 | 6,024 | |
Temecula Public Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Wolf Creek Community Facilities District | ||||
Series 2012 | ||||
09/01/2027 | 5.000% | 1,275,000 | 1,332,260 | |
09/01/2028 | 5.000% | 1,315,000 | 1,372,364 | |
09/01/2029 | 5.000% | 1,405,000 | 1,464,088 | |
09/01/2030 | 5.000% | 1,480,000 | 1,541,562 | |
09/01/2031 | 5.000% | 1,555,000 | 1,618,678 | |
West Contra Costa Unified School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2001B (NPFGC) | ||||
08/01/2024 | 6.000% | 1,125,000 | 1,220,167 | |
Total | 268,933,552 | |||
Colorado 4.1% | ||||
City & County of Denver Airport System(e) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018A | ||||
12/01/2048 | 4.000% | 11,500,000 | 13,144,868 | |
Colorado Bridge Enterprise(e) | ||||
Revenue Bonds | ||||
Central 70 Project | ||||
Series 2017 | ||||
06/30/2051 | 4.000% | 9,240,000 | 10,295,749 | |
Colorado Educational & Cultural Facilities Authority(d) | ||||
Improvement Refunding Revenue Bonds | ||||
Skyview Charter School | ||||
Series 2014 | ||||
07/01/2034 | 5.125% | 1,525,000 | 1,650,087 | |
07/01/2044 | 5.375% | 2,100,000 | 2,262,929 | |
07/01/2049 | 5.500% | 925,000 | 998,637 | |
Colorado Health Facilities Authority | ||||
Improvement Refunding Revenue Bonds | ||||
Bethesda Project | ||||
Series 2018 | ||||
09/15/2048 | 5.000% | 15,000,000 | 17,601,359 | |
09/15/2053 | 5.000% | 10,000,000 | 11,698,513 | |
Prerefunded 01/01/23 Revenue Bonds | ||||
Catholic Health Initiatives | ||||
Series 2013A | ||||
01/01/2045 | 5.250% | 7,000,000 | 7,500,966 | |
Prerefunded 06/01/27 Revenue Bonds | ||||
Evangelical Lutheran Good Samaritan Society | ||||
Series 2017 | ||||
06/01/2047 | 5.000% | 4,445,000 | 5,537,444 |
10 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Prerefunded 12/01/22 Revenue Bonds | ||||
Covenant Retirement Communities | ||||
Series 2012A | ||||
12/01/2033 | 5.000% | 5,500,000 | 5,855,976 | |
Refunding Revenue Bonds | ||||
AdventHealth Obligated | ||||
Series 2019 | ||||
11/15/2043 | 4.000% | 6,000,000 | 7,153,569 | |
CommonSpirit Health | ||||
Series 2019A | ||||
08/01/2049 | 4.000% | 8,640,000 | 10,025,312 | |
Covenant Retirement Communities | ||||
Series 2015 | ||||
12/01/2035 | 5.000% | 3,800,000 | 4,304,826 | |
School Health System | ||||
Series 2019A | ||||
01/01/2038 | 4.000% | 3,200,000 | 3,831,906 | |
Revenue Bonds | ||||
NJH-SJH Center for Outpatient Health | ||||
Series 2019 | ||||
01/01/2050 | 4.000% | 15,105,000 | 17,666,010 | |
E-470 Public Highway Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
09/01/2034 | 5.000% | 1,300,000 | 1,711,930 | |
E-470 Public Highway Authority(g) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 1997B (NPFGC) | ||||
09/01/2022 | 0.000% | 6,515,000 | 6,494,087 | |
State of Colorado | ||||
Certificate of Participation | ||||
Series 2021A | ||||
12/15/2040 | 4.000% | 4,950,000 | 6,123,424 | |
Total | 133,857,592 | |||
Connecticut 0.7% | ||||
Connecticut State Health & Educational Facilities Authority(d) | ||||
Revenue Bonds | ||||
Church Home of Hartford, Inc. | ||||
Series 2016 | ||||
09/01/2046 | 5.000% | 1,250,000 | 1,404,474 | |
Connecticut State Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Sacred Heart University | ||||
Series 2020K | ||||
07/01/2039 | 5.000% | 2,830,000 | 3,641,164 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of Connecticut | ||||
Revenue Bonds | ||||
Special Tax Obligation Bonds | ||||
Series 2020A | ||||
05/01/2023 | 5.000% | 675,000 | 733,144 | |
05/01/2024 | 5.000% | 1,000,000 | 1,133,106 | |
05/01/2038 | 5.000% | 2,500,000 | 3,268,716 | |
Unlimited General Obligation Bonds | ||||
Series 2018E | ||||
09/15/2037 | 5.000% | 500,000 | 633,411 | |
Series 2018-E | ||||
09/15/2034 | 5.000% | 2,000,000 | 2,543,384 | |
Series 2019A | ||||
04/15/2034 | 5.000% | 1,000,000 | 1,284,982 | |
04/15/2039 | 5.000% | 4,235,000 | 5,381,478 | |
Series 2020C | ||||
06/01/2033 | 4.000% | 450,000 | 557,012 | |
06/01/2037 | 4.000% | 1,000,000 | 1,218,643 | |
Total | 21,799,514 | |||
Delaware 0.1% | ||||
Delaware State Economic Development Authority | ||||
Revenue Bonds | ||||
Newark Charter School | ||||
Series 2012 | ||||
09/01/2032 | 4.625% | 2,000,000 | 2,041,355 | |
09/01/2042 | 5.000% | 1,350,000 | 1,379,035 | |
Total | 3,420,390 | |||
District of Columbia 1.7% | ||||
District of Columbia | ||||
Prerefunded 07/01/23 Revenue Bonds | ||||
KIPP Charter School | ||||
Series 2013 | ||||
07/01/2033 | 6.000% | 250,000 | 277,746 | |
07/01/2048 | 6.000% | 1,150,000 | 1,277,631 | |
Refunding Revenue Bonds | ||||
Children’s Hospital | ||||
Series 2015 | ||||
07/15/2044 | 5.000% | 9,090,000 | 10,695,371 | |
Friendship Public Charter School | ||||
Series 2016 | ||||
06/01/2046 | 5.000% | 1,385,000 | 1,578,780 | |
Revenue Bonds | ||||
KIPP DC Project | ||||
Series 2019 | ||||
07/01/2044 | 4.000% | 1,240,000 | 1,421,656 | |
Metropolitan Washington Airports Authority Aviation(e) | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
10/01/2032 | 5.000% | 15,160,000 | 20,518,933 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 11 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Metropolitan Washington Airports Authority Dulles Toll Road | ||||
Refunding Revenue Bonds | ||||
Dulles Metrorail | ||||
Subordinated Series 2019 | ||||
10/01/2049 | 4.000% | 7,950,000 | 9,295,124 | |
Washington Metropolitan Area Transit Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
07/15/2034 | 5.000% | 8,550,000 | 11,379,437 | |
Total | 56,444,678 | |||
Florida 5.8% | ||||
Alachua County Health Facilities Authority | ||||
Revenue Bonds | ||||
Shands Teaching Hospital & Clinics | ||||
Series 2019 | ||||
12/01/2049 | 4.000% | 5,000,000 | 5,870,491 | |
Capital Trust Agency, Inc.(d) | ||||
04/27/2021 | ||||
07/01/2056 | 5.000% | 2,125,000 | 2,531,153 | |
Capital Trust Agency, Inc.(d),(f) | ||||
Revenue Bonds | ||||
1st Mortgage Tallahassee Tapestry Senior Housing Project | ||||
Series 2015 | ||||
12/01/2045 | 0.000% | 3,760,000 | 1,203,200 | |
12/01/2050 | 0.000% | 1,000,000 | 320,000 | |
Capital Trust Agency, Inc.(d),(g) | ||||
Revenue Bonds | ||||
WFCS Portfolio Project | ||||
Subordinated Series 2021 | ||||
01/01/2061 | 0.000% | 6,000,000 | 581,609 | |
Central Florida Expressway Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2016B | ||||
07/01/2039 | 4.000% | 10,500,000 | 11,874,145 | |
City of Atlantic Beach | ||||
Revenue Bonds | ||||
Fleet Landing Project | ||||
Series 2018 | ||||
11/15/2048 | 5.000% | 2,500,000 | 2,875,205 | |
City of Lakeland | ||||
Revenue Bonds | ||||
Lakeland Regional Health | ||||
Series 2015 | ||||
11/15/2045 | 5.000% | 22,000,000 | 25,005,543 | |
County of Broward Airport System(e) | ||||
Revenue Bonds | ||||
Series 2015A | ||||
10/01/2045 | 5.000% | 14,000,000 | 16,359,511 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2019A | ||||
10/01/2039 | 5.000% | 2,500,000 | 3,184,140 | |
10/01/2049 | 5.000% | 1,000,000 | 1,254,391 | |
County of Miami-Dade Aviation(e) | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
10/01/2033 | 5.000% | 15,000,000 | 17,005,494 | |
10/01/2036 | 5.000% | 11,400,000 | 12,908,844 | |
County of Osceola Transportation(g) | ||||
Refunding Revenue Bonds | ||||
Series 2020A-2 | ||||
10/01/2040 | 0.000% | 4,650,000 | 2,643,645 | |
10/01/2041 | 0.000% | 2,500,000 | 1,363,466 | |
10/01/2042 | 0.000% | 3,250,000 | 1,699,278 | |
10/01/2043 | 0.000% | 2,750,000 | 1,379,011 | |
10/01/2044 | 0.000% | 3,000,000 | 1,447,002 | |
10/01/2046 | 0.000% | 3,000,000 | 1,337,803 | |
10/01/2048 | 0.000% | 4,000,000 | 1,651,308 | |
Florida Development Finance Corp. | ||||
Prerefunded 06/15/23 Revenue Bonds | ||||
Renaissance Charter School | ||||
Series 2013A | ||||
06/15/2044 | 8.500% | 9,000,000 | 10,363,483 | |
Florida Development Finance Corp.(d) | ||||
Revenue Bonds | ||||
Renaissance Charter School Inc. Projects | ||||
Series 2015 | ||||
06/15/2035 | 6.000% | 4,000,000 | 4,581,146 | |
Florida Housing Finance Corp. | ||||
Revenue Bonds | ||||
Series 2018 (GNMA) | ||||
07/01/2043 | 3.800% | 2,790,000 | 2,971,627 | |
Greater Orlando Aviation Authority(e) | ||||
Revenue Bonds | ||||
Priority | ||||
Subordinated Series 2017A | ||||
10/01/2047 | 5.000% | 2,665,000 | 3,222,486 | |
Series 2019A | ||||
10/01/2049 | 5.000% | 2,000,000 | 2,508,782 | |
Hillsborough County Aviation Authority(e) | ||||
Revenue Bonds | ||||
Tampa International Airport | ||||
Subordinated Series 2018 | ||||
10/01/2048 | 5.000% | 5,550,000 | 6,834,705 | |
Miami-Dade County Expressway Authority | ||||
Revenue Bonds | ||||
Series 2014A | ||||
07/01/2044 | 5.000% | 5,000,000 | 5,585,928 | |
Mid-Bay Bridge Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
10/01/2035 | 5.000% | 3,765,000 | 4,319,960 |
12 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Palm Beach County Health Facilities Authority | ||||
Prerefunded 12/01/24 Revenue Bonds | ||||
Boca Raton Community Hospital Obligation Group | ||||
Series 2014 | ||||
12/01/2031 | 5.000% | 1,500,000 | 1,737,596 | |
Revenue Bonds | ||||
Sinai Residences of Boca Raton | ||||
Series 2014 | ||||
06/01/2034 | 7.250% | 685,000 | 728,952 | |
Polk County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Carpenter’s Home Estates | ||||
Series 2019 | ||||
01/01/2039 | 5.000% | 1,700,000 | 1,911,639 | |
Putnam County Development Authority | ||||
Refunding Revenue Bonds | ||||
Seminole Project | ||||
Series 2018A | ||||
03/15/2042 | 5.000% | 6,665,000 | 8,095,656 | |
Sarasota County Public Hospital District | ||||
Refunding Revenue Bonds | ||||
Sarasota Memorial Hospital | ||||
Series 1998B (NPFGC) | ||||
07/01/2028 | 5.500% | 6,980,000 | 8,608,306 | |
Seminole County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Legacy Pointe at UCF Project | ||||
Series 2019 | ||||
11/15/2049 | 5.500% | 4,200,000 | 4,708,860 | |
Tampa Sports Authority | ||||
Sales Tax Revenue Bonds | ||||
Tampa Bay Arena Project | ||||
Series 1995 (NPFGC) | ||||
10/01/2025 | 5.750% | 2,280,000 | 2,531,359 | |
Tampa-Hillsborough County Expressway Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
07/01/2042 | 4.000% | 7,785,000 | 9,010,302 | |
Total | 190,216,026 | |||
Georgia 1.0% | ||||
City of Atlanta Department of Aviation(e) | ||||
Revenue Bonds | ||||
Airport | ||||
Subordinated Series 2019 | ||||
07/01/2036 | 4.000% | 2,250,000 | 2,672,723 | |
07/01/2037 | 4.000% | 3,640,000 | 4,312,631 | |
07/01/2039 | 4.000% | 9,250,000 | 10,912,611 | |
Fulton County Development Authority | ||||
Revenue Bonds | ||||
RAC Series 2017 | ||||
04/01/2047 | 5.000% | 3,000,000 | 3,596,731 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Fulton County Residential Care Facilities for the Elderly Authority | ||||
Refunding Revenue Bonds | ||||
Lenbrook Square Foundation, Inc. | ||||
Series 2016 | ||||
07/01/2036 | 5.000% | 3,500,000 | 3,796,939 | |
Georgia State Road & Tollway Authority(d),(g) | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
I-75 S Express Lanes Project | ||||
Series 2014 Escrowed to Maturity | ||||
06/01/2024 | 0.000% | 625,000 | 584,864 | |
Glynn-Brunswick Memorial Hospital Authority | ||||
Revenue Bonds | ||||
SE Georgia Health System Anticipation Certificates | ||||
Series 2017 | ||||
08/01/2047 | 5.000% | 2,145,000 | 2,561,716 | |
Metropolitan Atlanta Rapid Transit Authority | ||||
Refunding Revenue Bonds | ||||
Series 2007A (AMBAC) | ||||
07/01/2026 | 5.250% | 1,000,000 | 1,234,096 | |
Oconee County Industrial Development Authority | ||||
Revenue Bonds | ||||
Presbyterian Village Athens Project | ||||
Series 2018 | ||||
12/01/2048 | 6.250% | 2,945,000 | 3,029,985 | |
Total | 32,702,296 | |||
Hawaii 0.1% | ||||
State of Hawaii Department of Budget & Finance | ||||
Refunding Revenue Bonds | ||||
Special Purpose - Kahala Nui | ||||
Series 2012 | ||||
11/15/2032 | 5.125% | 1,300,000 | 1,366,400 | |
11/15/2037 | 5.250% | 1,945,000 | 2,042,610 | |
Total | 3,409,010 | |||
Idaho 0.6% | ||||
Idaho Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
St. Luke’s Health System Project | ||||
Series 2018 | ||||
03/01/2038 | 4.000% | 3,650,000 | 4,233,185 | |
Revenue Bonds | ||||
Terraces of Boise Project | ||||
Series 2014A | ||||
10/01/2034 | 7.750% | 9,135,000 | 7,944,043 | |
10/01/2044 | 8.000% | 5,635,000 | 4,917,725 | |
10/01/2049 | 8.125% | 4,365,000 | 3,811,862 | |
Total | 20,906,815 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 13 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Illinois 11.7% | ||||
Chicago Board of Education(d) | ||||
Unlimited General Obligation Bonds | ||||
Dedicated | ||||
Series 2017A | ||||
12/01/2046 | 7.000% | 10,765,000 | 14,320,083 | |
Chicago Board of Education | ||||
Unlimited General Obligation Bonds | ||||
Series 2018 | ||||
12/01/2046 | 5.000% | 5,000,000 | 6,159,284 | |
Series 2021A | ||||
12/01/2033 | 5.000% | 4,535,000 | 5,917,506 | |
Chicago Midway International Airport(e) | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2014A | ||||
01/01/2041 | 5.000% | 10,000,000 | 11,025,228 | |
Chicago O’Hare International Airport(e) | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2018A | ||||
01/01/2048 | 5.000% | 7,455,000 | 9,190,619 | |
Revenue Bonds | ||||
General Senior Lien | ||||
Series 2017D | ||||
01/01/2052 | 5.000% | 17,620,000 | 21,080,394 | |
Series 2015C | ||||
01/01/2046 | 5.000% | 12,525,000 | 14,268,837 | |
TriPs Obligated Group | ||||
Series 2018 | ||||
07/01/2048 | 5.000% | 2,400,000 | 2,883,211 | |
Chicago O’Hare International Airport | ||||
Revenue Bonds | ||||
Series 2015D | ||||
01/01/2046 | 5.000% | 7,310,000 | 8,383,647 | |
Chicago Park District | ||||
Limited General Obligation Bonds | ||||
Series 2016A | ||||
01/01/2033 | 5.000% | 1,000,000 | 1,160,912 | |
01/01/2034 | 5.000% | 1,000,000 | 1,158,891 | |
01/01/2036 | 5.000% | 1,000,000 | 1,156,945 | |
City of Chicago Wastewater Transmission | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2015C | ||||
01/01/2034 | 5.000% | 1,250,000 | 1,435,421 | |
01/01/2039 | 5.000% | 2,970,000 | 3,394,299 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
2nd Lien | ||||
Series 2014 | ||||
01/01/2039 | 5.000% | 4,000,000 | 4,415,167 | |
01/01/2044 | 5.000% | 4,000,000 | 4,413,136 | |
City of Chicago Waterworks | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2016 | ||||
11/01/2026 | 5.000% | 935,000 | 1,140,359 | |
Revenue Bonds | ||||
2nd Lien | ||||
Series 2014 | ||||
11/01/2034 | 5.000% | 1,000,000 | 1,129,653 | |
11/01/2039 | 5.000% | 2,000,000 | 2,255,796 | |
11/01/2044 | 5.000% | 2,850,000 | 3,219,133 | |
Cook County Community College District No. 508 | ||||
Unlimited General Obligation Bonds | ||||
Chicago City Colleges | ||||
Series 2017 (BAM) | ||||
12/01/2047 | 5.000% | 9,400,000 | 11,086,791 | |
County of Champaign | ||||
Unlimited General Obligation Bonds | ||||
Public Safety Sales Tax | ||||
Series 1999 (NPFGC) | ||||
01/01/2023 | 8.250% | 1,420,000 | 1,570,400 | |
Illinois Finance Authority | ||||
Prerefunded 04/01/23 Revenue Bonds | ||||
Series 2013 | ||||
10/01/2049 | 4.000% | 5,575,000 | 5,932,878 | |
Refunding Revenue Bonds | ||||
Northshore University Health System | ||||
Series 2020A | ||||
08/15/2036 | 4.000% | 3,000,000 | 3,663,954 | |
08/15/2038 | 4.000% | 3,500,000 | 4,252,130 | |
08/15/2040 | 4.000% | 1,750,000 | 2,116,723 | |
Northwest Community Hospital | ||||
Series 2016A | ||||
07/01/2038 | 4.000% | 5,000,000 | 5,698,295 | |
Rush University Medical Center | ||||
Series 2015A | ||||
11/15/2038 | 5.000% | 20,145,000 | 23,277,016 | |
Series 2015B | ||||
11/15/2039 | 5.000% | 6,590,000 | 7,609,236 | |
Silver Cross Hospital & Medical Centers | ||||
Series 2015C | ||||
08/15/2044 | 5.000% | 9,400,000 | 10,881,258 | |
University of Chicago | ||||
Series 2021A | ||||
10/01/2031 | 5.000% | 4,000,000 | 5,524,528 |
14 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Illinois Finance Authority(h) | ||||
Refunding Revenue Bonds | ||||
LEARN Charter School Project Social Bonds | ||||
Series 2021 | ||||
11/01/2041 | 4.000% | 425,000 | 505,359 | |
Illinois Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2019D (GNMA) | ||||
10/01/2039 | 2.950% | 2,960,000 | 3,077,347 | |
Illinois State Toll Highway Authority | ||||
Revenue Bonds | ||||
Series 2014C | ||||
01/01/2036 | 5.000% | 5,000,000 | 5,732,541 | |
01/01/2039 | 5.000% | 5,000,000 | 5,710,669 | |
Series 2019A | ||||
01/01/2044 | 4.000% | 5,000,000 | 5,889,485 | |
Toll Highway | ||||
Senior Series 2020A | ||||
01/01/2045 | 5.000% | 13,340,000 | 17,224,399 | |
Metropolitan Pier & Exposition Authority(g),(h) | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion | ||||
Series 2022 | ||||
12/15/2039 | 0.000% | 3,000,000 | 1,874,935 | |
12/15/2040 | 0.000% | 3,050,000 | 1,837,203 | |
12/15/2041 | 0.000% | 2,200,000 | 1,278,781 | |
Metropolitan Pier & Exposition Authority(h) | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion | ||||
Series 2022 | ||||
06/15/2052 | 4.000% | 3,000,000 | 3,441,046 | |
Metropolitan Pier & Exposition Authority(g) | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion Project | ||||
Series 2012 (BAM) | ||||
12/15/2051 | 0.000% | 19,000,000 | 9,079,750 | |
Metropolitan Pier & Exposition Authority | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion Project | ||||
Series 2020 | ||||
06/15/2050 | 4.000% | 2,400,000 | 2,764,070 | |
Metropolitan Water Reclamation District of Greater Chicago | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2007C | ||||
12/01/2033 | 5.250% | 13,210,000 | 19,005,967 | |
Regional Transportation Authority | ||||
Revenue Bonds | ||||
Series 2002A (NPFGC) | ||||
07/01/2031 | 6.000% | 5,400,000 | 7,595,956 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of Illinois | ||||
Revenue Bonds | ||||
1st Series 2002 (NPFGC) | ||||
06/15/2023 | 6.000% | 4,000,000 | 4,385,330 | |
Unlimited General Obligation Bonds | ||||
1st Series 2001 (NPFGC) | ||||
11/01/2026 | 6.000% | 3,000,000 | 3,626,571 | |
Rebuild Illinois Program | ||||
Series 2019B | ||||
11/01/2039 | 4.000% | 7,580,000 | 8,877,676 | |
Series 2019C | ||||
11/01/2042 | 4.000% | 9,925,000 | 11,567,055 | |
11/01/2043 | 4.000% | 3,000,000 | 3,477,905 | |
11/01/2044 | 4.000% | 2,000,000 | 2,314,203 | |
Series 2013 | ||||
07/01/2038 | 5.500% | 4,125,000 | 4,462,517 | |
Series 2013A | ||||
04/01/2036 | 5.000% | 8,000,000 | 8,507,516 | |
Series 2014 | ||||
02/01/2039 | 5.000% | 15,000,000 | 16,533,216 | |
Series 2016 | ||||
11/01/2030 | 5.000% | 5,975,000 | 7,121,193 | |
Series 2020 | ||||
05/01/2039 | 5.500% | 2,705,000 | 3,546,381 | |
Series 2020C | ||||
05/01/2024 | 5.500% | 1,000,000 | 1,138,761 | |
Series 2021A | ||||
03/01/2030 | 5.000% | 5,000,000 | 6,501,853 | |
03/01/2031 | 5.000% | 5,000,000 | 6,626,383 | |
03/01/2037 | 5.000% | 3,750,000 | 4,857,276 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2018-A | ||||
10/01/2033 | 5.000% | 6,000,000 | 7,470,085 | |
Total | 385,753,159 | |||
Indiana 0.2% | ||||
Indiana Finance Authority | ||||
Prerefunded 11/15/21 Revenue Bonds | ||||
BHI Senior Living | ||||
Series 2011 | ||||
11/15/2031 | 5.500% | 1,175,000 | 1,192,831 | |
11/15/2041 | 5.750% | 5,655,000 | 5,744,823 | |
Indiana Housing & Community Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020B-1 (GNMA) | ||||
07/01/2039 | 2.050% | 450,000 | 451,442 | |
Total | 7,389,096 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 15 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Iowa 1.0% | ||||
Iowa Finance Authority | ||||
Revenue Bonds | ||||
Council Bluffs, Inc. Project | ||||
Series 2018 | ||||
08/01/2033 | 5.000% | 500,000 | 525,844 | |
08/01/2038 | 5.000% | 500,000 | 525,744 | |
Lifespace Communities, Inc. | ||||
Series 2018A | ||||
05/15/2048 | 5.000% | 9,275,000 | 10,787,228 | |
PEFA, Inc. | ||||
Revenue Bonds | ||||
Series 2019 (Mandatory Put 09/01/26) | ||||
09/01/2049 | 5.000% | 17,500,000 | 21,156,784 | |
Total | 32,995,600 | |||
Kansas 1.0% | ||||
University of Kansas Hospital Authority | ||||
Improvement Refunding Revenue Bonds | ||||
Kansas University Health System | ||||
Series 2015 | ||||
09/01/2045 | 5.000% | 29,000,000 | 33,613,213 | |
Kentucky 0.4% | ||||
Kentucky Economic Development Finance Authority | ||||
Refunding Revenue Bonds | ||||
Owensboro Health System | ||||
Series 2017A | ||||
06/01/2041 | 5.000% | 1,750,000 | 2,064,590 | |
Kentucky Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Forward Delivery Prairie State Project | ||||
Series 2020 | ||||
09/01/2035 | 5.000% | 1,080,000 | 1,355,124 | |
Series 2015A | ||||
09/01/2042 | 5.000% | 6,600,000 | 7,719,657 | |
Kentucky State Property & Building Commission | ||||
Revenue Bonds | ||||
Project #119 | ||||
Series 2018 (BAM) | ||||
05/01/2034 | 5.000% | 2,000,000 | 2,501,613 | |
Total | 13,640,984 | |||
Louisiana 1.7% | ||||
Louisiana Public Facilities Authority | ||||
Prerefunded 05/15/26 Revenue Bonds | ||||
Ochsner Clinic Foundation Project | ||||
Series 2016 | ||||
05/15/2035 | 4.000% | 25,000 | 28,950 | |
05/15/2041 | 4.000% | 25,000 | 28,951 | |
05/15/2047 | 5.000% | 15,000 | 18,076 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Refunding Revenue Bonds | ||||
Ochsner Clinic Foundation Project | ||||
Series 2016 | ||||
05/15/2047 | 5.000% | 1,185,000 | 1,390,720 | |
Series 2017 | ||||
05/15/2036 | 5.000% | 1,750,000 | 2,118,810 | |
Revenue Bonds | ||||
Provident Group - Flagship Properties | ||||
Series 2017 | ||||
07/01/2047 | 5.000% | 1,400,000 | 1,665,694 | |
07/01/2052 | 5.000% | 1,600,000 | 1,898,689 | |
Louisiana Public Facilities Authority(e) | ||||
Revenue Bonds | ||||
Impala Warehousing LLC Project | ||||
Series 2013 | ||||
07/01/2036 | 6.500% | 16,695,000 | 17,913,738 | |
New Orleans Aviation Board(e) | ||||
Revenue Bonds | ||||
General Airport-North Terminal | ||||
Series 2017B | ||||
01/01/2048 | 5.000% | 3,725,000 | 4,425,811 | |
Series 2015B | ||||
01/01/2045 | 5.000% | 21,150,000 | 24,094,683 | |
Parish of St. James(d) | ||||
Revenue Bonds | ||||
Nustar Logistics LP Project | ||||
Series 2011 (Mandatory Put 06/01/25) | ||||
08/01/2041 | 5.850% | 2,500,000 | 2,877,827 | |
Total | 56,461,949 | |||
Maryland 1.5% | ||||
Maryland Community Development Administration | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
09/01/2034 | 3.000% | 3,000,000 | 3,250,731 | |
09/01/2042 | 3.350% | 3,000,000 | 3,258,516 | |
Series 2020D | ||||
09/01/2035 | 1.950% | 2,255,000 | 2,286,730 | |
Revenue Bonds | ||||
Series 2019C | ||||
09/01/2034 | 2.700% | 4,000,000 | 4,286,270 | |
Maryland Economic Development Corp. | ||||
Tax Allocation Bonds | ||||
Port Covington Project | ||||
Series 2020 | ||||
09/01/2040 | 4.000% | 875,000 | 1,026,118 | |
Maryland Health & Higher Educational Facilities Authority | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
Western Maryland Health System | ||||
Series 2014 | ||||
07/01/2034 | 5.250% | 6,885,000 | 7,882,874 |
16 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Refunding Revenue Bonds | ||||
Mercy Medical Center | ||||
Series 2016A | ||||
07/01/2042 | 4.000% | 5,250,000 | 5,794,054 | |
Meritus Medical Center Issue | ||||
Series 2015 | ||||
07/01/2045 | 5.000% | 3,000,000 | 3,398,945 | |
Revenue Bonds | ||||
University of Maryland Medical System | ||||
Series 2017 | ||||
07/01/2048 | 4.000% | 7,335,000 | 8,355,763 | |
Washington Suburban Sanitary Commission | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2020-2 | ||||
12/01/2030 | 5.000% | 1,445,000 | 1,979,926 | |
12/01/2031 | 5.000% | 1,515,000 | 2,067,147 | |
Series 2020 | ||||
12/01/2031 | 5.000% | 4,510,000 | 6,153,687 | |
Total | 49,740,761 | |||
Massachusetts 1.5% | ||||
Commonwealth of Massachusetts | ||||
Refunding Revenue Bonds | ||||
Series 2005 (NPFGC) | ||||
01/01/2027 | 5.500% | 4,500,000 | 5,630,694 | |
01/01/2030 | 5.500% | 2,500,000 | 3,360,064 | |
Massachusetts Bay Transportation Authority | ||||
Revenue Bonds | ||||
Series 2005B (NPFGC) | ||||
07/01/2026 | 5.500% | 1,500,000 | 1,871,006 | |
Series 2008B | ||||
07/01/2027 | 5.250% | 710,000 | 905,375 | |
Massachusetts Clean Water Trust (The) | ||||
Refunding Revenue Bonds | ||||
Pool Program | ||||
Series 2006 | ||||
08/01/2030 | 5.250% | 1,000,000 | 1,377,001 | |
Massachusetts Development Finance Agency(f) | ||||
Revenue Bonds | ||||
Adventcare Project | ||||
Series 2007A | ||||
10/15/2028 | 0.000% | 4,605,000 | 2,072,250 | |
Massachusetts Development Finance Agency(g) | ||||
Revenue Bonds | ||||
Linden Ponds, Inc. Facility | ||||
Subordinated Series 2011B | ||||
11/15/2056 | 0.000% | 645,165 | 443,895 | |
Massachusetts Development Finance Agency | ||||
Revenue Bonds | ||||
Series 2021V | ||||
07/01/2055 | 5.000% | 3,000,000 | 4,943,243 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
UMass Boston Student Housing Project | ||||
Series 2016 | ||||
10/01/2048 | 5.000% | 6,360,000 | 7,200,925 | |
WGBH Educational Foundation | ||||
Series 2002A (AMBAC) | ||||
01/01/2042 | 5.750% | 2,000,000 | 3,150,719 | |
Massachusetts Educational Financing Authority(e) | ||||
Refunding Revenue Bonds | ||||
Series 2016J | ||||
07/01/2033 | 3.500% | 2,770,000 | 2,839,303 | |
Massachusetts Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Tufts University | ||||
Series 2009M | ||||
02/15/2028 | 5.500% | 1,000,000 | 1,312,004 | |
Massachusetts Housing Finance Agency | ||||
Revenue Bonds | ||||
Special Obligations | ||||
Series 2017D | ||||
12/01/2047 | 3.850% | 10,000,000 | 10,914,215 | |
Massachusetts Port Authority(e) | ||||
Refunding Revenue Bonds | ||||
BosFuel Project | ||||
Series 2019A | ||||
07/01/2044 | 4.000% | 1,500,000 | 1,741,442 | |
Massachusetts State College Building Authority(g) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 1999A Escrowed to Maturity (NPFGC) | ||||
05/01/2023 | 0.000% | 3,000,000 | 2,986,953 | |
Total | 50,749,089 | |||
Michigan 4.5% | ||||
City of Detroit Sewage Disposal System | ||||
Prerefunded 07/01/22 Revenue Bonds | ||||
Senior Lien | ||||
Series 2012A | ||||
07/01/2039 | 5.250% | 11,925,000 | 12,488,648 | |
Grand Traverse County Hospital Finance Authority | ||||
Revenue Bonds | ||||
Munson Healthcare | ||||
Series 2014A | ||||
07/01/2047 | 5.000% | 1,200,000 | 1,348,745 | |
Great Lakes Water Authority Water Supply System | ||||
Revenue Bonds | ||||
2nd Lien | ||||
Series 2016B | ||||
07/01/2046 | 5.000% | 15,385,000 | 18,312,410 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 17 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Michigan Finance Authority | ||||
Prerefunded 07/01/22 Revenue Bonds | ||||
Senior Lien - Detroit Water and Sewage Department Sewage Disposal System | ||||
Series 2014C | ||||
07/01/2044 | 5.000% | 2,000,000 | 2,089,979 | |
Refunding Revenue Bonds | ||||
Henry Ford Health System | ||||
Series 2016 | ||||
11/15/2046 | 4.000% | 9,420,000 | 10,597,059 | |
Senior Lien - Great Lakes Water Authority | ||||
Series 2014C-6 | ||||
07/01/2033 | 5.000% | 1,070,000 | 1,210,927 | |
Trinity Health Corp. | ||||
Series 2017 | ||||
12/01/2036 | 4.000% | 2,000,000 | 2,344,884 | |
Trinity Health Credit Group | ||||
Series 2019 | ||||
12/01/2038 | 4.000% | 3,250,000 | 3,919,673 | |
Revenue Bonds | ||||
Beaumont Health Credit Group | ||||
Series 2016S | ||||
11/01/2044 | 5.000% | 16,760,000 | 19,587,511 | |
Henry Ford Health System | ||||
Series 2019A | ||||
11/15/2050 | 4.000% | 4,400,000 | 5,121,501 | |
Local Government Loan Program - Great Lakes Water Authority | ||||
Series 2015 | ||||
07/01/2034 | 5.000% | 7,095,000 | 8,275,726 | |
07/01/2035 | 5.000% | 4,830,000 | 5,631,755 | |
Trinity Health Credit Group | ||||
Series 2019 | ||||
12/01/2040 | 4.000% | 6,000,000 | 7,201,453 | |
Michigan State Hospital Finance Authority | ||||
Refunding Revenue Bonds | ||||
Ascension Health Senior Care Group | ||||
Series 2010F-4 | ||||
11/15/2047 | 5.000% | 1,250,000 | 1,599,354 | |
Michigan State Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
10/01/2048 | 4.050% | 5,000,000 | 5,530,269 | |
Michigan Strategic Fund(e) | ||||
Revenue Bonds | ||||
I-75 Improvement Project | ||||
Series 2018 | ||||
12/31/2043 | 5.000% | 8,000,000 | 9,768,182 | |
06/30/2048 | 5.000% | 3,000,000 | 3,640,136 | |
Paw Paw Public Schools | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 1998 (NPFGC) (Qualified School Board Loan Fund) | ||||
05/01/2025 | 5.000% | 1,020,000 | 1,122,688 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Royal Oak Hospital Finance Authority | ||||
Refunding Revenue Bonds | ||||
William Beaumont Hospital | ||||
Series 2014D | ||||
09/01/2039 | 5.000% | 9,425,000 | 10,490,211 | |
St. John’s Public Schools | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 1998 (NPFGC) (Qualified School Bond Loan Fund) | ||||
05/01/2025 | 5.100% | 1,790,000 | 1,977,349 | |
Wayne County Airport Authority(e) | ||||
Refunding Revenue Bonds | ||||
Series 2015F | ||||
12/01/2033 | 5.000% | 11,495,000 | 13,568,646 | |
Revenue Bonds | ||||
Series 2017B | ||||
12/01/2047 | 5.000% | 1,000,000 | 1,214,594 | |
Wayne County Airport Authority | ||||
Revenue Bonds | ||||
Series 2015D | ||||
12/01/2045 | 5.000% | 1,945,000 | 2,297,692 | |
Williamston Community School District | ||||
Unlimited General Obligation Bonds | ||||
Series 1996 (NPFGC) (Qualified School Bond Loan Fund) | ||||
05/01/2025 | 5.500% | 405,000 | 451,066 | |
Total | 149,790,458 | |||
Minnesota 4.3% | ||||
City of Blaine | ||||
Refunding Revenue Bonds | ||||
Crest View Senior Community Project | ||||
Series 2015 | ||||
07/01/2045 | 6.125% | 9,775,000 | 9,743,940 | |
City of Brooklyn Center | ||||
Revenue Bonds | ||||
Sanctuary Brooklyn Center Project | ||||
Series 2016 | ||||
11/01/2035 | 5.500% | 2,940,000 | 2,923,094 | |
City of Minneapolis | ||||
Revenue Bonds | ||||
Fairview Health Services | ||||
Series 2018A | ||||
11/15/2048 | 4.000% | 5,000,000 | 5,747,789 | |
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2049 | 5.000% | 1,000,000 | 1,081,473 | |
County of Hennepin | ||||
Unlimited General Obligation Bonds | ||||
Series 2020C | ||||
12/15/2036 | 5.000% | 9,430,000 | 12,419,142 | |
12/15/2037 | 5.000% | 9,900,000 | 13,003,221 |
18 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Prerefunded 11/15/25 Revenue Bonds | ||||
HealthEast Care System Project | ||||
Series 2015 | ||||
11/15/2030 | 5.000% | 900,000 | 1,076,064 | |
11/15/2040 | 5.000% | 935,000 | 1,117,911 | |
Refunding Revenue Bonds | ||||
Fairview Health Services | ||||
Series 2017 | ||||
11/15/2047 | 5.000% | 3,000,000 | 3,675,826 | |
Southern Minnesota Municipal Power Agency(g) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 1994A (NPFGC) | ||||
01/01/2022 | 0.000% | 27,500,000 | 27,458,987 | |
01/01/2023 | 0.000% | 26,500,000 | 26,331,097 | |
01/01/2025 | 0.000% | 17,500,000 | 17,064,570 | |
St. Cloud Housing & Redevelopment Authority(f) | ||||
Revenue Bonds | ||||
Sanctuary St. Cloud Project | ||||
Series 2016A | ||||
08/01/2036 | 0.000% | 7,125,000 | 6,267,435 | |
State of Minnesota | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
08/01/2035 | 5.000% | 9,845,000 | 13,235,054 | |
Total | 141,145,603 | |||
Mississippi 0.2% | ||||
County of Lowndes | ||||
Refunding Revenue Bonds | ||||
Weyerhaeuser Co. Project | ||||
Series 1992A | ||||
04/01/2022 | 6.800% | 2,470,000 | 2,570,310 | |
Medical Center Educational Building Corp. | ||||
Refunding Revenue Bonds | ||||
University of Mississippi Medical Center | ||||
Series 1998B (AMBAC) | ||||
12/01/2023 | 5.500% | 2,520,000 | 2,698,297 | |
Total | 5,268,607 | |||
Missouri 2.0% | ||||
Cape Girardeau County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
SoutheastHEALTH | ||||
Series 2017 | ||||
03/01/2032 | 5.000% | 500,000 | 594,926 | |
03/01/2036 | 5.000% | 1,250,000 | 1,475,539 | |
Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Mosaic Health System | ||||
Series 2019 | ||||
02/15/2049 | 4.000% | 3,200,000 | 3,700,081 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Health & Educational Facilities Authority of the State of Missouri | ||||
Revenue Bonds | ||||
Lutheran Senior Services | ||||
Series 2014 | ||||
02/01/2035 | 5.000% | 7,350,000 | 7,988,850 | |
02/01/2044 | 5.000% | 12,725,000 | 13,762,563 | |
Kansas City Industrial Development Authority(e) | ||||
Revenue Bonds | ||||
Kansas City International Airport | ||||
Series 2020A | ||||
03/01/2045 | 4.000% | 6,000,000 | 7,009,933 | |
Kirkwood Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Aberdeen Heights Project | ||||
Series 2017 | ||||
05/15/2037 | 5.250% | 2,205,000 | 2,544,951 | |
05/15/2042 | 5.250% | 2,290,000 | 2,617,773 | |
Missouri Development Finance Board(e) | ||||
Revenue Bonds | ||||
Procter & Gamble Paper Products | ||||
Series 1999 | ||||
03/15/2029 | 5.200% | 6,385,000 | 8,210,125 | |
Missouri Housing Development Commission | ||||
Revenue Bonds | ||||
First Place Homeownership Loan Program | ||||
Series 2020A (GNMA) | ||||
11/01/2040 | 2.550% | 1,465,000 | 1,531,140 | |
11/01/2045 | 2.700% | 1,180,000 | 1,233,173 | |
Missouri Joint Municipal Electric Utility Commission | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
12/01/2041 | 4.000% | 10,000,000 | 11,070,211 | |
St. Louis County Industrial Development Authority | ||||
Revenue Bonds | ||||
Friendship Village Sunset Hills | ||||
Series 2013A | ||||
09/01/2033 | 5.500% | 2,750,000 | 2,978,296 | |
Total | 64,717,561 | |||
Montana 0.0% | ||||
City of Kalispell | ||||
Refunding Revenue Bonds | ||||
Immanuel Lutheran Corp. Project | ||||
Series 2017 | ||||
05/15/2052 | 5.250% | 1,080,000 | 1,179,839 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 19 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Nebraska 1.8% | ||||
Douglas County Hospital Authority No. 2 | ||||
Revenue Bonds | ||||
Madonna Rehabilitation Hospital | ||||
Series 2014 | ||||
05/15/2029 | 5.000% | 2,125,000 | 2,349,549 | |
05/15/2030 | 5.000% | 2,000,000 | 2,204,959 | |
05/15/2036 | 5.000% | 1,000,000 | 1,096,420 | |
05/15/2044 | 5.000% | 6,400,000 | 7,017,086 | |
Douglas County Hospital Authority No. 3 | ||||
Refunding Revenue Bonds | ||||
Health Facilities - Nebraska Methodist Health System | ||||
Series 2015 | ||||
11/01/2045 | 5.000% | 12,500,000 | 14,400,192 | |
Nebraska Educational Health Cultural & Social Services Finance Authority | ||||
Refunding Revenue Bonds | ||||
Immanuel Obligated Group | ||||
Series 2019 | ||||
01/01/2044 | 4.000% | 7,500,000 | 8,528,879 | |
01/01/2049 | 4.000% | 20,595,000 | 23,422,780 | |
Nebraska Investment Finance Authority | ||||
Revenue Bonds | ||||
Series 2019D | ||||
09/01/2042 | 3.050% | 930,000 | 961,220 | |
Total | 59,981,085 | |||
Nevada 0.3% | ||||
Carson City | ||||
Prerefunded 09/01/22 Revenue Bonds | ||||
Carson Tahoe Regional Medical Center | ||||
Series 2012 | ||||
09/01/2033 | 5.000% | 2,500,000 | 2,625,776 | |
City of Carson City | ||||
Refunding Revenue Bonds | ||||
Carson Tahoe Regional Medical Center | ||||
Series 2017 | ||||
09/01/2042 | 5.000% | 1,120,000 | 1,355,117 | |
Revenue Bonds | ||||
Carson Tahoe Regional Medical Center | ||||
Series 2017 | ||||
09/01/2047 | 5.000% | 2,320,000 | 2,806,563 | |
State of Nevada Department of Business & Industry(d) | ||||
Revenue Bonds | ||||
Somerset Academy | ||||
Series 2015A | ||||
12/15/2035 | 5.000% | 1,025,000 | 1,154,315 | |
Series 2018A | ||||
12/15/2038 | 5.000% | 835,000 | 935,882 | |
Total | 8,877,653 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Hampshire 0.6% | ||||
New Hampshire Business Finance Authority | ||||
Revenue Bonds | ||||
Municipal Certificates | ||||
Series 2020A-1 | ||||
01/20/2034 | 4.125% | 9,601,982 | 11,676,812 | |
New Hampshire Business Finance Authority(d) | ||||
Revenue Bonds | ||||
The Vista Project | ||||
Series 2019A | ||||
07/01/2039 | 5.250% | 1,550,000 | 1,649,347 | |
New Hampshire Health & Education Facilities Authority Act | ||||
Refunding Revenue Bonds | ||||
Elliot Hospital | ||||
Series 2016 | ||||
10/01/2038 | 5.000% | 3,150,000 | 3,732,874 | |
New Hampshire Health & Education Facilities Authority Act(f) | ||||
Revenue Bonds | ||||
Hillside Village | ||||
Series 2017A | ||||
07/01/2037 | 0.000% | 1,750,000 | 1,295,000 | |
07/01/2042 | 0.000% | 1,000,000 | 740,000 | |
Total | 19,094,033 | |||
New Jersey 3.3% | ||||
City of Atlantic City | ||||
Unlimited General Obligation Bonds | ||||
Tax Appeal | ||||
Series 2017B (AGM) | ||||
03/01/2037 | 5.000% | 910,000 | 1,098,055 | |
Middlesex County Improvement Authority(f) | ||||
Revenue Bonds | ||||
Heldrich Center Hotel | ||||
Series 2005C | ||||
01/01/2037 | 0.000% | 1,500,000 | 15 | |
New Jersey Economic Development Authority | ||||
Prerefunded 06/15/25 Revenue Bonds | ||||
Series 2015WW | ||||
06/15/2040 | 5.250% | 150,000 | 178,842 | |
Refunding Revenue Bonds | ||||
School Facilities Construction | ||||
Series 2005N-1 (AGM) | ||||
09/01/2025 | 5.500% | 14,500,000 | 17,468,366 | |
Series 2005N-1 (NPFGC) | ||||
09/01/2027 | 5.500% | 5,000,000 | 6,423,207 | |
Subordinated Series 2017A | ||||
07/01/2034 | 4.000% | 1,750,000 | 1,980,799 | |
Revenue Bonds | ||||
Self-Designated Social Bonds | ||||
Series 2021 | ||||
06/15/2050 | 4.000% | 1,500,000 | 1,766,875 |
20 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2017DDD | ||||
06/15/2042 | 5.000% | 1,250,000 | 1,502,212 | |
Unrefunded Revenue Bonds | ||||
Series 2015WW | ||||
06/15/2040 | 5.250% | 2,600,000 | 3,035,314 | |
New Jersey Educational Facilities Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2020A | ||||
07/01/2045 | 5.000% | 1,800,000 | 2,265,984 | |
New Jersey Housing & Mortgage Finance Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020E (HUD) | ||||
10/01/2040 | 2.250% | 5,070,000 | 5,210,655 | |
New Jersey Transportation Trust Fund Authority | ||||
Refunding Revenue Bonds | ||||
Federal Highway Reimbursement | ||||
Series 2018 | ||||
06/15/2031 | 5.000% | 5,500,000 | 6,503,988 | |
Transportation System | ||||
Series 2018A | ||||
12/15/2034 | 5.000% | 6,000,000 | 7,566,546 | |
Series 2019 | ||||
12/15/2032 | 5.000% | 2,600,000 | 3,340,317 | |
12/15/2039 | 5.000% | 1,400,000 | 1,770,545 | |
Revenue Bonds | ||||
Series 2019BB | ||||
06/15/2050 | 5.000% | 10,000,000 | 12,352,070 | |
Series 2020AA | ||||
06/15/2050 | 5.000% | 7,000,000 | 8,871,721 | |
Transportation Program | ||||
Series 2019 | ||||
06/15/2046 | 5.000% | 3,500,000 | 4,336,383 | |
New Jersey Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Series 2005A (AGM) | ||||
01/01/2030 | 5.250% | 2,000,000 | 2,711,016 | |
Revenue Bonds | ||||
Series 2004C-2 (AMBAC) | ||||
01/01/2025 | 5.500% | 2,500,000 | 2,936,179 | |
State of New Jersey | ||||
Unlimited General Obligation Bonds | ||||
COVID-19 Emergency Bonds | ||||
Series 2020 | ||||
06/01/2031 | 4.000% | 1,250,000 | 1,577,329 | |
Tobacco Settlement Financing Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
06/01/2046 | 5.000% | 7,220,000 | 8,723,759 | |
06/01/2046 | 5.250% | 2,000,000 | 2,463,069 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated Series 2018B | ||||
06/01/2046 | 5.000% | 3,845,000 | 4,596,542 | |
Total | 108,679,788 | |||
New Mexico 0.2% | ||||
New Mexico Mortgage Finance Authority | ||||
Revenue Bonds | ||||
Single Family Mortgage Program | ||||
Series 2019C Class I (GNMA) | ||||
07/01/2034 | 3.050% | 2,005,000 | 2,178,799 | |
07/01/2039 | 3.350% | 1,685,000 | 1,845,441 | |
07/01/2044 | 3.600% | 3,510,000 | 3,819,384 | |
Total | 7,843,624 | |||
New York 4.6% | ||||
Build NYC Resource Corp.(d),(e) | ||||
Refunding Revenue Bonds | ||||
Pratt Paper, Inc. Project | ||||
Series 2014 | ||||
01/01/2025 | 4.500% | 355,000 | 384,123 | |
City of New York | ||||
Unlimited General Obligation Bonds | ||||
Series 2020C | ||||
08/01/2033 | 5.000% | 1,500,000 | 1,994,312 | |
Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2017G | ||||
11/01/2042 | 3.600% | 4,000,000 | 4,322,448 | |
Metropolitan Transportation Authority | ||||
Revenue Bonds | ||||
BAN Series 2019B-1 | ||||
05/15/2022 | 5.000% | 3,000,000 | 3,111,646 | |
BAN Series 2019D-1 | ||||
09/01/2022 | 5.000% | 6,650,000 | 6,990,502 | |
BAN Series 2019F | ||||
11/15/2022 | 5.000% | 2,000,000 | 2,121,638 | |
Green Bonds | ||||
Series 2020C-1 | ||||
11/15/2050 | 5.000% | 4,915,000 | 6,148,135 | |
New York City Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2019 | ||||
11/01/2044 | 3.150% | 8,000,000 | 8,488,798 | |
New York City Transitional Finance Authority | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2020 | ||||
05/01/2040 | 4.000% | 4,500,000 | 5,472,141 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 21 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated Series 2020D | ||||
11/01/2040 | 4.000% | 10,000,000 | 12,160,314 | |
New York Counties Tobacco Trust VI | ||||
Tobacco Settlement Pass-Through Bonds | ||||
Series 2016 | ||||
06/01/2045 | 5.000% | 1,860,000 | 2,039,987 | |
New York State Dormitory Authority | ||||
Refunding Revenue Bonds | ||||
Catholic Health System Obligation Group | ||||
Series 2019 | ||||
07/01/2045 | 4.000% | 1,000,000 | 1,147,461 | |
Series 2019A-3 | ||||
03/15/2041 | 5.000% | 7,000,000 | 8,865,193 | |
Revenue Bonds | ||||
Independent School District-Educational Housing Services | ||||
Series 2005 (AMBAC) | ||||
07/01/2030 | 5.250% | 3,000,000 | 3,617,435 | |
School District Finance Program | ||||
Series 2020A (AGM) | ||||
10/01/2023 | 5.000% | 2,500,000 | 2,764,656 | |
10/01/2024 | 5.000% | 2,250,000 | 2,589,787 | |
Series 2020A | ||||
07/01/2053 | 4.000% | 4,000,000 | 4,711,952 | |
New York State Urban Development Corp. | ||||
Revenue Bonds | ||||
Series 2020A | ||||
03/15/2036 | 5.000% | 2,500,000 | 3,301,588 | |
New York Transportation Development Corp. | ||||
Refunding Revenue Bonds | ||||
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2040 | 4.000% | 1,800,000 | 2,164,343 | |
12/01/2041 | 4.000% | 1,800,000 | 2,158,725 | |
New York Transportation Development Corp.(e) | ||||
Revenue Bonds | ||||
Delta Air Lines, Inc. Laguardia | ||||
Series 2020 | ||||
10/01/2035 | 5.000% | 8,000,000 | 10,404,066 | |
New York State Thruway Service Areas Project | ||||
Series 2021 | ||||
10/31/2041 | 4.000% | 1,430,000 | 1,706,521 | |
Port Authority of New York & New Jersey(e) | ||||
Refunding Revenue Bonds | ||||
Consolidated 197th | ||||
Series 2016-197 | ||||
11/15/2036 | 5.000% | 2,550,000 | 3,072,319 | |
Consolidated 206th | ||||
Series 2017-206 | ||||
11/15/2047 | 5.000% | 1,895,000 | 2,300,192 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Consolidated 218th | ||||
Series 2019 | ||||
11/01/2037 | 4.000% | 4,000,000 | 4,819,950 | |
11/01/2041 | 4.000% | 1,000,000 | 1,196,409 | |
Consolidated Bonds | ||||
Series 221 | ||||
07/15/2039 | 4.000% | 6,500,000 | 7,811,294 | |
07/15/2040 | 4.000% | 6,000,000 | 7,190,957 | |
State of New York Mortgage Agency | ||||
Refunding Revenue Bonds | ||||
Series 2018-211 | ||||
10/01/2043 | 3.750% | 11,620,000 | 12,611,796 | |
Ulster County Capital Resource Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Woodland Pond at New Paltz | ||||
Series 2017 | ||||
09/15/2042 | 5.250% | 2,480,000 | 2,538,414 | |
09/15/2047 | 5.250% | 3,025,000 | 3,072,219 | |
09/15/2053 | 5.250% | 6,240,000 | 6,317,702 | |
Westchester County Local Development Corp. | ||||
Refunding Revenue Bonds | ||||
Westchester Medical Center | ||||
Series 2016 | ||||
11/01/2046 | 5.000% | 4,000,000 | 4,650,759 | |
Total | 152,247,782 | |||
North Carolina 1.7% | ||||
City of Charlotte Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
07/01/2032 | 5.000% | 1,625,000 | 2,191,268 | |
07/01/2033 | 5.000% | 2,250,000 | 3,021,848 | |
07/01/2034 | 5.000% | 1,900,000 | 2,543,618 | |
Durham Housing Authority | ||||
Prerefunded 01/31/23 Revenue Bonds | ||||
Magnolia Pointe Apartments | ||||
Series 2005 | ||||
02/01/2038 | 5.650% | 2,873,072 | 3,095,124 | |
North Carolina Department of Transportation(e) | ||||
Revenue Bonds | ||||
I-77 Hot Lanes Project | ||||
Series 2015 | ||||
06/30/2054 | 5.000% | 12,500,000 | 13,785,669 | |
North Carolina Medical Care Commission(h) | ||||
Refunding Revenue Bonds | ||||
Series 2021C | ||||
03/01/2042 | 4.000% | 2,500,000 | 2,706,729 |
22 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Sharon Towers | ||||
Series 2019A | ||||
07/01/2039 | 5.000% | 1,650,000 | 1,884,136 | |
07/01/2044 | 5.000% | 2,260,000 | 2,563,715 | |
Revenue Bonds | ||||
Novant Health Obligated Group | ||||
Series 2019A | ||||
11/01/2052 | 4.000% | 2,815,000 | 3,316,633 | |
Twin Lakes Community | ||||
Series 2019A | ||||
01/01/2049 | 5.000% | 3,000,000 | 3,464,734 | |
North Carolina Turnpike Authority | ||||
Revenue Bonds | ||||
Senior Lien - Triangle Expressway | ||||
Series 2019 | ||||
01/01/2049 | 5.000% | 7,000,000 | 8,621,534 | |
North Carolina Turnpike Authority(g) | ||||
Revenue Bonds | ||||
Series 2017C | ||||
07/01/2030 | 0.000% | 445,000 | 338,544 | |
07/01/2034 | 0.000% | 1,135,000 | 697,458 | |
Series 2019 | ||||
01/01/2044 | 0.000% | 4,000,000 | 2,166,251 | |
Triangle Expressway System | ||||
Series 2019 | ||||
01/01/2042 | 0.000% | 6,550,000 | 3,822,391 | |
01/01/2043 | 0.000% | 3,500,000 | 1,967,012 | |
Total | 56,186,664 | |||
North Dakota 0.3% | ||||
North Dakota Housing Finance Agency | ||||
Revenue Bonds | ||||
Home Mortgage Program | ||||
Series 2019 | ||||
07/01/2043 | 3.050% | 2,020,000 | 2,140,972 | |
Housing Finance Program | ||||
Series 2017 (FHA) | ||||
07/01/2037 | 3.450% | 1,435,000 | 1,534,443 | |
Housing Finance Program-Home Mortgage Finance | ||||
Series 2018 | ||||
07/01/2042 | 3.950% | 4,880,000 | 5,237,208 | |
Total | 8,912,623 | |||
Ohio 2.4% | ||||
American Municipal Power, Inc. | ||||
Revenue Bonds | ||||
AMP Fremont Energy Center Project | ||||
Series 2012 | ||||
02/15/2037 | 5.000% | 13,220,000 | 13,567,965 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Buckeye Tobacco Settlement Financing Authority | ||||
Refunded Revenue Bonds | ||||
Series 2020A-2 Class 1 | ||||
06/01/2039 | 4.000% | 2,000,000 | 2,401,760 | |
Refunding Senior Revenue Bonds | ||||
Series 2020B-2 | ||||
06/01/2055 | 5.000% | 13,400,000 | 15,759,757 | |
County of Hamilton | ||||
Revenue Bonds | ||||
Cincinnati Children’s Hospital Project | ||||
Series 2019 | ||||
11/15/2049 | 5.000% | 10,000,000 | 15,831,018 | |
County of Marion | ||||
Refunding Revenue Bonds | ||||
United Church Homes, Inc. | ||||
Series 2019 | ||||
12/01/2049 | 5.125% | 625,000 | 689,853 | |
Lake County Port & Economic Development Authority(d),(f) | ||||
Revenue Bonds | ||||
1st Mortgage - Tapestry Wickliffe LLC | ||||
Series 2017 | ||||
12/01/2037 | 0.000% | 6,000,000 | 2,130,000 | |
12/01/2052 | 0.000% | 1,500,000 | 532,500 | |
Ohio Air Quality Development Authority(d),(e) | ||||
Revenue Bonds | ||||
Pratt Paper LLC Project | ||||
Series 2017 | ||||
01/15/2038 | 4.250% | 1,000,000 | 1,163,778 | |
Ohio Turnpike & Infrastructure Commission | ||||
Refunding Revenue Bonds | ||||
Series 1998A (NPFGC) | ||||
02/15/2026 | 5.500% | 3,000,000 | 3,599,183 | |
State of Ohio | ||||
Refunding Revenue Bonds | ||||
Cleveland Clinic Health System | ||||
Series 2017 | ||||
01/01/2036 | 4.000% | 4,500,000 | 5,298,029 | |
State of Ohio(e) | ||||
Revenue Bonds | ||||
Portsmouth Bypass Project | ||||
Series 2015 | ||||
06/30/2053 | 5.000% | 9,835,000 | 11,076,649 | |
Toledo-Lucas County Port Authority | ||||
Revenue Bonds | ||||
University of Toledo Project | ||||
Series 2014 | ||||
07/01/2046 | 5.000% | 5,000,000 | 5,366,356 | |
Special Assessment Bonds | ||||
Town Square - Levis Commons Project | ||||
Series 2016 | ||||
11/01/2036 | 5.400% | 1,445,649 | 1,315,051 | |
Total | 78,731,899 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 23 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Oklahoma 0.1% | ||||
Tulsa County Industrial Authority | ||||
Refunding Revenue Bonds | ||||
Montereau, Inc. Project | ||||
Series 2017 | ||||
11/15/2045 | 5.250% | 2,000,000 | 2,318,401 | |
Oregon 0.6% | ||||
City of Forest Grove | ||||
Refunding Revenue Bonds | ||||
Campus Improvement Pacific University Project | ||||
Series 2014 | ||||
05/01/2040 | 5.000% | 1,500,000 | 1,546,425 | |
Clackamas County Hospital Facility Authority | ||||
Refunding Revenue Bonds | ||||
Rose Villa Project | ||||
Series 2020A | ||||
11/15/2050 | 5.250% | 1,000,000 | 1,115,957 | |
Hospital Facilities Authority of Multnomah County | ||||
Refunding Revenue Bonds | ||||
Mirabella at South Waterfront | ||||
Series 2014A | ||||
10/01/2044 | 5.400% | 3,225,000 | 3,508,476 | |
Medford Hospital Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Asante Project | ||||
Series 2020A | ||||
08/15/2037 | 5.000% | 2,900,000 | 3,813,839 | |
Port of Portland Airport(e) | ||||
Revenue Bonds | ||||
Series 2017-24B | ||||
07/01/2034 | 5.000% | 1,355,000 | 1,633,083 | |
07/01/2042 | 5.000% | 2,000,000 | 2,389,323 | |
State of Oregon Housing & Community Services Department | ||||
Revenue Bonds | ||||
Series 2017D | ||||
01/01/2038 | 3.450% | 4,590,000 | 4,938,736 | |
Total | 18,945,839 | |||
Pennsylvania 8.0% | ||||
Bucks County Industrial Development Authority | ||||
Revenue Bonds | ||||
St. Luke’s University Health Network | ||||
Series 2019 | ||||
08/15/2050 | 4.000% | 4,000,000 | 4,588,290 | |
Commonwealth Financing Authority | ||||
Revenue Bonds | ||||
Tobacco Master Settlement Payment | ||||
Series 2018 | ||||
06/01/2034 | 5.000% | 1,000,000 | 1,239,431 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Commonwealth of Pennsylvania | ||||
Refunding Certificate of Participation | ||||
Series 2018A | ||||
07/01/2043 | 5.000% | 2,500,000 | 3,028,873 | |
Cumberland County Municipal Authority | ||||
Prerefunded 01/01/25 Revenue Bonds | ||||
Diakon Lutheran Social Ministries Project | ||||
Series 2015 | ||||
01/01/2038 | 5.000% | 865,000 | 1,000,947 | |
Refunding Revenue Bonds | ||||
Diakon Lutheran Social Ministries Project | ||||
Series 2015 | ||||
01/01/2038 | 5.000% | 7,975,000 | 8,882,785 | |
Delaware Valley Regional Finance Authority | ||||
Revenue Bonds | ||||
Series 1997C (AMBAC) | ||||
07/01/2027 | 7.750% | 1,000,000 | 1,403,485 | |
Franklin County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Menno-Haven, Inc. Project | ||||
Series 2018 | ||||
12/01/2048 | 5.000% | 1,300,000 | 1,408,433 | |
Geisinger Authority | ||||
Refunding Revenue Bonds | ||||
Geisinger Health System | ||||
Series 2017 | ||||
02/15/2039 | 4.000% | 6,000,000 | 6,833,129 | |
Montgomery County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Albert Einstein HealthCare Network | ||||
Series 2015 | ||||
01/15/2045 | 5.250% | 6,000,000 | 6,793,297 | |
Meadowood Senior Living Project | ||||
Series 2018 | ||||
12/01/2048 | 5.000% | 2,000,000 | 2,284,206 | |
Northampton County General Purpose Authority | ||||
Refunding Revenue Bonds | ||||
St. Luke’s University Health Network | ||||
Series 2018 | ||||
08/15/2048 | 4.000% | 20,000,000 | 22,584,796 | |
Pennsylvania Economic Development Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
11/15/2042 | 4.000% | 30,000,000 | 34,565,631 | |
Pennsylvania Economic Development Financing Authority(d),(f) | ||||
Refunding Revenue Bonds | ||||
Tapestry Moon Senior Housing Project | ||||
Series 2018 | ||||
12/01/2053 | 0.000% | 5,625,000 | 3,318,750 |
24 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pennsylvania Economic Development Financing Authority(e) | ||||
Revenue Bonds | ||||
PA Bridges Finco LP | ||||
Series 2015 | ||||
12/31/2038 | 5.000% | 1,625,000 | 1,900,453 | |
06/30/2042 | 5.000% | 29,375,000 | 34,167,261 | |
Proctor & Gamble Paper Project | ||||
Series 2001 | ||||
03/01/2031 | 5.375% | 1,000,000 | 1,360,882 | |
Pennsylvania Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Series 2017-124B | ||||
10/01/2037 | 3.500% | 16,000,000 | 16,942,874 | |
Revenue Bonds | ||||
Series 2019-129 | ||||
10/01/2039 | 3.150% | 7,730,000 | 8,280,469 | |
Pennsylvania Turnpike Commission | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2015A-1 | ||||
12/01/2045 | 5.250% | 25,295,000 | 30,315,731 | |
Subordinated Series 2016A-1 | ||||
12/01/2046 | 5.000% | 5,000,000 | 5,842,928 | |
Revenue Bonds | ||||
Series 2014B | ||||
12/01/2044 | 5.250% | 10,000,000 | 11,588,234 | |
Subordinated Series 2014A-1 | ||||
12/01/2043 | 5.000% | 16,940,000 | 19,319,279 | |
Subordinated Series 2017B-1 | ||||
06/01/2042 | 5.000% | 15,000,000 | 18,089,697 | |
Subordinated Series 2018B | ||||
12/01/2043 | 5.000% | 7,000,000 | 8,704,636 | |
Philadelphia Authority for Industrial Development | ||||
Revenue Bonds | ||||
First Philadelphia Preparatory Charter School | ||||
Series 2014 | ||||
06/15/2043 | 7.250% | 5,475,000 | 6,321,517 | |
School District of Philadelphia (The) | ||||
Limited General Obligation Bonds | ||||
Series 2018A | ||||
09/01/2037 | 5.000% | 1,000,000 | 1,249,969 | |
Series 2018B | ||||
09/01/2043 | 5.000% | 985,000 | 1,220,097 | |
Westmoreland County Municipal Authority(g) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 1999A (NPFGC) | ||||
08/15/2022 | 0.000% | 2,000,000 | 1,994,064 | |
Total | 265,230,144 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Puerto Rico 1.4% | ||||
Commonwealth of Puerto Rico(f),(i) | ||||
Unlimited General Obligation Bonds | ||||
Series 2014A | ||||
07/01/2035 | 0.000% | 6,000,000 | 5,115,000 | |
Puerto Rico Electric Power Authority(f),(i) | ||||
Revenue Bonds | ||||
Series 2010XX | ||||
07/01/2040 | 0.000% | 3,000,000 | 2,947,500 | |
Series 2012A | ||||
07/01/2042 | 0.000% | 7,000,000 | 6,851,250 | |
Puerto Rico Highway & Transportation Authority(f),(i) | ||||
Revenue Bonds | ||||
Series 2005K | ||||
07/01/2030 | 0.000% | 2,000,000 | 1,062,500 | |
Series 2007M | ||||
07/01/2037 | 0.000% | 2,000,000 | 1,062,500 | |
Unrefunded Revenue Bonds | ||||
Series 2003G | ||||
07/01/2042 | 0.000% | 1,930,000 | 1,025,313 | |
Puerto Rico Public Finance Corp.(i) | ||||
Revenue Bonds | ||||
Commonwealth Appropriation | ||||
Series 2002E Escrowed to Maturity (AMBAC) | ||||
08/01/2027 | 5.500% | 450,000 | 573,549 | |
Unrefunded Revenue Bonds | ||||
Commonwealth Appropriation | ||||
Series 2002E Escrowed to Maturity | ||||
08/01/2026 | 6.000% | 2,470,000 | 3,105,888 | |
Series 2002E Escrowed to Maturity (AMBAC) | ||||
08/01/2027 | 5.500% | 1,050,000 | 1,338,282 | |
Puerto Rico Sales Tax Financing Corp.(g),(i) | ||||
Revenue Bonds | ||||
Series 2018A-1 | ||||
07/01/2046 | 0.000% | 43,459,000 | 14,567,804 | |
Puerto Rico Sales Tax Financing Corp. Sales Tax(i) | ||||
Revenue Bonds | ||||
Series 2019A-1 | ||||
07/01/2058 | 5.000% | 7,000,000 | 8,162,210 | |
Total | 45,811,796 | |||
South Carolina 1.0% | ||||
Piedmont Municipal Power Agency | ||||
Unrefunded Revenue Bonds | ||||
Series 1993 (NPFGC) | ||||
01/01/2025 | 5.375% | 10,940,000 | 12,725,944 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 25 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Bon Secours Mercy Health, Inc. | ||||
Series 2020 | ||||
12/01/2046 | 5.000% | 4,200,000 | 5,399,584 | |
Revenue Bonds | ||||
York Preparatory Academy Project | ||||
Series 2014A | ||||
11/01/2023 | 5.750% | 480,000 | 500,163 | |
11/01/2033 | 7.000% | 910,000 | 1,022,577 | |
11/01/2045 | 7.250% | 3,935,000 | 4,393,817 | |
South Carolina Ports Authority(e) | ||||
Revenue Bonds | ||||
Series 2018 | ||||
07/01/2048 | 5.000% | 4,260,000 | 5,251,184 | |
07/01/2055 | 5.000% | 1,380,000 | 1,693,259 | |
South Carolina State Housing Finance & Development Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
07/01/2035 | 2.650% | 975,000 | 1,046,465 | |
07/01/2040 | 3.000% | 975,000 | 1,046,030 | |
Total | 33,079,023 | |||
South Dakota 0.6% | ||||
South Dakota Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Sanford Obligated Group | ||||
Series 2015 | ||||
11/01/2035 | 5.000% | 2,500,000 | 2,932,022 | |
11/01/2045 | 5.000% | 6,920,000 | 8,052,903 | |
Revenue Bonds | ||||
Regional Health | ||||
Series 2017 | ||||
09/01/2040 | 5.000% | 6,500,000 | 7,863,117 | |
Total | 18,848,042 | |||
Tennessee 1.4% | ||||
Chattanooga Health Educational & Housing Facility Board | ||||
Refunding Revenue Bonds | ||||
Student Housing - CDFI Phase I | ||||
Series 2015 | ||||
10/01/2032 | 5.000% | 1,300,000 | 1,472,171 | |
10/01/2035 | 5.000% | 645,000 | 727,376 | |
Greeneville Health & Educational Facilities Board | ||||
Refunding Revenue Bonds | ||||
Ballad Health Obligation Group | ||||
Series 2018 | ||||
07/01/2035 | 5.000% | 1,000,000 | 1,246,976 | |
07/01/2040 | 4.000% | 7,200,000 | 8,341,747 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board | ||||
Revenue Bonds | ||||
Vanderbilt University Medical Center | ||||
Series 2016 | ||||
07/01/2046 | 5.000% | 6,800,000 | 8,122,394 | |
Series 2017A | ||||
07/01/2048 | 5.000% | 1,665,000 | 2,029,279 | |
New Memphis Arena Public Building Authority(g) | ||||
Revenue Bonds | ||||
City of Memphis Project | ||||
Series 2021 | ||||
04/01/2041 | 0.000% | 1,500,000 | 974,056 | |
04/01/2043 | 0.000% | 1,500,000 | 917,317 | |
04/01/2045 | 0.000% | 1,500,000 | 864,503 | |
04/01/2046 | 0.000% | 750,000 | 420,758 | |
Shelby County Health Educational & Housing Facilities Board | ||||
Revenue Bonds | ||||
Farms at Bailey Station (The) | ||||
Series 2019 | ||||
10/01/2054 | 5.750% | 12,000,000 | 12,975,890 | |
Tennessee Housing Development Agency | ||||
Revenue Bonds | ||||
3rd Issue | ||||
Series 2017 | ||||
07/01/2037 | 3.400% | 975,000 | 1,057,036 | |
07/01/2042 | 3.600% | 650,000 | 697,332 | |
Issue 3 | ||||
Series 2018 | ||||
01/01/2049 | 3.950% | 6,770,000 | 7,339,316 | |
Total | 47,186,151 | |||
Texas 8.5% | ||||
Central Texas Regional Mobility Authority | ||||
Prerefunded 01/01/23 Revenue Bonds | ||||
Senior Lien | ||||
Series 2013A | ||||
01/01/2033 | 5.000% | 2,700,000 | 2,887,706 | |
Refunding Revenue Bonds | ||||
Series 2016 | ||||
01/01/2046 | 5.000% | 9,835,000 | 11,533,608 | |
Revenue Bonds | ||||
Senior Lien | ||||
Series 2015A | ||||
01/01/2045 | 5.000% | 3,000,000 | 3,453,250 | |
Central Texas Regional Mobility Authority(g) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 2010 | ||||
01/01/2025 | 0.000% | 2,000,000 | 1,939,665 |
26 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Central Texas Turnpike System | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
08/15/2039 | 5.000% | 2,400,000 | 3,124,943 | |
Subordinated Series 2015C | ||||
08/15/2037 | 5.000% | 10,000,000 | 11,162,631 | |
08/15/2042 | 5.000% | 14,730,000 | 16,370,797 | |
City of Austin Airport System(e) | ||||
Revenue Bonds | ||||
Series 2017B | ||||
11/15/2041 | 5.000% | 1,000,000 | 1,205,775 | |
11/15/2046 | 5.000% | 3,000,000 | 3,612,779 | |
Series 2019B | ||||
11/15/2044 | 5.000% | 6,500,000 | 8,221,122 | |
City of Houston Airport System(e) | ||||
Revenue Bonds | ||||
Subordinated Series 2020A | ||||
07/01/2047 | 4.000% | 4,200,000 | 4,912,556 | |
Clifton Higher Education Finance Corp. | ||||
Revenue Bonds | ||||
Idea Public Schools | ||||
Series 2012 | ||||
08/15/2032 | 5.000% | 2,165,000 | 2,250,062 | |
08/15/2042 | 5.000% | 5,575,000 | 5,771,594 | |
Series 2013 | ||||
08/15/2033 | 6.000% | 990,000 | 1,090,076 | |
International Leadership | ||||
Series 2015 | ||||
08/15/2038 | 5.750% | 3,000,000 | 3,497,176 | |
International Leadership of Texas | ||||
Series 2015 | ||||
08/15/2045 | 5.750% | 10,500,000 | 12,137,522 | |
Series 2015A | ||||
12/01/2035 | 5.000% | 2,200,000 | 2,497,551 | |
12/01/2045 | 5.000% | 1,100,000 | 1,231,036 | |
Collin County Community College District | ||||
Limited General Obligation Bonds | ||||
Series 2020A | ||||
08/15/2036 | 4.000% | 1,250,000 | 1,529,590 | |
Dallas Love Field(e) | ||||
Revenue Bonds | ||||
Series 2017 | ||||
11/01/2034 | 5.000% | 750,000 | 906,596 | |
11/01/2035 | 5.000% | 1,000,000 | 1,209,082 | |
Dallas/Fort Worth International Airport(e) | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
11/01/2032 | 5.000% | 3,400,000 | 3,733,675 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Dallas/Fort Worth International Airport | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
11/01/2035 | 4.000% | 1,250,000 | 1,551,883 | |
Deaf Smith County Hospital District | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2017 | ||||
03/01/2030 | 5.000% | 1,000,000 | 1,195,043 | |
03/01/2034 | 5.000% | 645,000 | 765,343 | |
Grand Parkway Transportation Corp. | ||||
Refunding Revenue Bonds | ||||
Grand Parkway System | ||||
Series 2020C | ||||
10/01/2045 | 4.000% | 13,010,000 | 15,482,769 | |
Harris County Flood Control District | ||||
Limited General Obligation Bonds | ||||
Series 2020A | ||||
10/01/2032 | 5.000% | 5,500,000 | 7,250,752 | |
Harris County Toll Road Authority (The) | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2018A | ||||
08/15/2048 | 4.000% | 4,000,000 | 4,639,139 | |
Katy Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
02/15/2034 | 4.000% | 3,020,000 | 3,723,550 | |
New Hope Cultural Education Facilities Finance Corp. | ||||
Prerefunded 04/01/25 Revenue Bonds | ||||
Collegiate Housing Tarleton State University | ||||
Series 2015 | ||||
04/01/2047 | 5.000% | 2,995,000 | 3,508,339 | |
Prerefunded 04/01/27 Revenue Bonds | ||||
Texas A&M University - Corpus Christi | ||||
Series 2017 | ||||
04/01/2042 | 5.000% | 2,000,000 | 2,484,036 | |
Refunding Revenue Bonds | ||||
Texas Children’s Health System | ||||
Series 2017A | ||||
08/15/2040 | 4.000% | 7,015,000 | 8,018,796 | |
Revenue Bonds | ||||
Cardinal Bay Senior Living/Village on the Park | ||||
Series 2016 | ||||
07/01/2046 | 5.000% | 5,285,000 | 4,113,509 | |
Cardinal Bay, Inc. - Village on the Park | ||||
Series 2016 | ||||
07/01/2031 | 4.000% | 1,000,000 | 842,156 | |
07/01/2051 | 4.750% | 6,745,000 | 4,905,928 | |
Collegiate Housing College Station | ||||
Series 2014 | ||||
04/01/2046 | 5.000% | 7,250,000 | 7,682,815 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 27 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Westminster Project | ||||
Series 2021 | ||||
11/01/2055 | 4.000% | 1,000,000 | 1,136,322 | |
New Hope Cultural Education Facilities Finance Corp.(f) | ||||
Revenue Bonds | ||||
Bridgemoor Plano Project | ||||
Series 2018 | ||||
12/01/2053 | 0.000% | 9,000,000 | 6,631,020 | |
New Hope Cultural Education Facilities Finance Corp.(d) | ||||
Revenue Bonds | ||||
Jubilee Academic Center Project | ||||
Series 2017 | ||||
08/15/2037 | 5.000% | 940,000 | 942,212 | |
North Texas Tollway Authority | ||||
Refunding Revenue Bonds | ||||
2nd Tier | ||||
Series 2015A | ||||
01/01/2038 | 5.000% | 9,230,000 | 10,548,612 | |
Series 2019A | ||||
01/01/2037 | 4.000% | 5,000,000 | 5,965,367 | |
Northwest Independent School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020 | ||||
02/15/2034 | 4.000% | 2,250,000 | 2,803,146 | |
02/15/2038 | 4.000% | 2,320,000 | 2,859,573 | |
02/15/2040 | 4.000% | 1,415,000 | 1,736,773 | |
Pottsboro Higher Education Finance Corp. | ||||
Revenue Bonds | ||||
Series 2016A | ||||
08/15/2036 | 5.000% | 390,000 | 434,864 | |
Red River Health Facilities Development Corp. | ||||
Revenue Bonds | ||||
MRC Crossings Project | ||||
Series 2014A | ||||
11/15/2034 | 7.500% | 2,000,000 | 2,232,127 | |
Sanger Industrial Development Corp.(d),(e),(f) | ||||
Revenue Bonds | ||||
Texas Pellets Project | ||||
Series 2012B | ||||
07/01/2038 | 0.000% | 34,645,000 | 8,661,250 | |
Tarrant County Cultural Education Facilities Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Trinity Terrace Project | ||||
Series 2014 | ||||
10/01/2044 | 5.000% | 2,500,000 | 2,758,498 | |
10/01/2049 | 5.000% | 1,870,000 | 2,059,099 | |
Tarrant County Cultural Education Facilities Finance Corp.(f) | ||||
Revenue Bonds | ||||
CC Young Memorial Home | ||||
Series 2009A | ||||
02/15/2038 | 0.000% | 3,500,000 | 2,825,991 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Texas Municipal Gas Acquisition & Supply Corp. III | ||||
Refunding Revenue Bonds | ||||
Senior | ||||
Series 2021 | ||||
12/15/2032 | 5.000% | 1,000,000 | 1,376,057 | |
Texas Private Activity Bond Surface Transportation Corp. | ||||
Refunding Revenue Bonds | ||||
LBJ Infrastructure Group LLC I-635 Managed Lanes Project | ||||
Series 2020 | ||||
06/30/2034 | 4.000% | 2,000,000 | 2,424,709 | |
12/31/2039 | 4.000% | 400,000 | 477,221 | |
Senior Lien - North Tarrant Express | ||||
Series 2019 | ||||
12/31/2038 | 4.000% | 3,500,000 | 4,133,529 | |
Texas Private Activity Bond Surface Transportation Corp.(e) | ||||
Revenue Bonds | ||||
Segment 3C Project | ||||
Series 2019 | ||||
06/30/2058 | 5.000% | 11,500,000 | 14,272,601 | |
Senior Lien - Blueridge Transportation Group LLC | ||||
Series 2016 | ||||
12/31/2040 | 5.000% | 2,000,000 | 2,279,346 | |
12/31/2045 | 5.000% | 1,250,000 | 1,416,198 | |
12/31/2050 | 5.000% | 7,750,000 | 8,759,386 | |
12/31/2055 | 5.000% | 6,250,000 | 7,047,234 | |
Texas Transportation Commission | ||||
Revenue Bonds | ||||
State Highway 249 System Toll | ||||
Series 2019 | ||||
08/01/2057 | 5.000% | 2,000,000 | 2,356,768 | |
Tomball Independent School District | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2020 | ||||
02/15/2034 | 3.000% | 1,750,000 | 1,986,729 | |
02/15/2035 | 3.000% | 1,750,000 | 1,982,062 | |
02/15/2036 | 3.000% | 1,435,000 | 1,619,678 | |
02/15/2038 | 4.000% | 1,750,000 | 2,144,252 | |
02/15/2039 | 4.000% | 1,250,000 | 1,526,899 | |
02/15/2040 | 4.000% | 1,000,000 | 1,218,343 | |
Wichita Falls Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2021 | ||||
02/01/2027 | 4.000% | 1,100,000 | 1,304,359 | |
02/01/2028 | 4.000% | 700,000 | 845,689 | |
02/01/2029 | 4.000% | 600,000 | 738,449 | |
02/01/2030 | 4.000% | 800,000 | 1,001,012 | |
Total | 280,948,225 |
28 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Utah 1.5% | ||||
City of Salt Lake City Airport(e),(h) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
07/01/2037 | 5.000% | 10,000,000 | 13,121,501 | |
07/01/2046 | 5.000% | 12,000,000 | 15,420,784 | |
Salt Lake City Corp. Airport(e) | ||||
Revenue Bonds | ||||
Series 2017A | ||||
07/01/2036 | 5.000% | 4,000,000 | 4,878,857 | |
07/01/2047 | 5.000% | 11,500,000 | 13,819,418 | |
Series 2018-A | ||||
07/01/2048 | 5.000% | 3,000,000 | 3,651,754 | |
Total | 50,892,314 | |||
Virginia 1.1% | ||||
Chesapeake Bay Bridge & Tunnel District | ||||
Revenue Bonds | ||||
1st Tier General Resolution | ||||
Series 2016 | ||||
07/01/2046 | 5.000% | 3,500,000 | 4,175,073 | |
Fredericksburg Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Mary Washington Healthcare Obligation | ||||
Series 2014 | ||||
06/15/2030 | 5.000% | 1,000,000 | 1,115,209 | |
06/15/2031 | 5.000% | 800,000 | 890,480 | |
06/15/2033 | 5.000% | 500,000 | 555,048 | |
Virginia Small Business Financing Authority(e) | ||||
Revenue Bonds | ||||
Transform 66 P3 Project | ||||
Series 2017 | ||||
12/31/2052 | 5.000% | 3,750,000 | 4,517,618 | |
12/31/2056 | 5.000% | 20,300,000 | 24,439,345 | |
Total | 35,692,773 | |||
Washington 2.1% | ||||
Greater Wenatchee Regional Events Center Public Facilities District | ||||
Revenue Bonds | ||||
Series 2012A | ||||
09/01/2027 | 5.000% | 1,540,000 | 1,596,382 | |
09/01/2032 | 5.250% | 1,000,000 | 1,035,010 | |
King County Housing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018 | ||||
05/01/2038 | 3.750% | 2,915,000 | 3,281,754 | |
King County Public Hospital District No. 4 | ||||
Revenue Bonds | ||||
Series 2015A | ||||
12/01/2035 | 6.000% | 1,300,000 | 1,443,664 | |
12/01/2045 | 6.250% | 2,500,000 | 2,784,664 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Port of Seattle(e) | ||||
Revenue Bonds | ||||
Series 2018A | ||||
05/01/2043 | 5.000% | 8,000,000 | 9,457,727 | |
Washington Health Care Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Multicare Health System | ||||
Series 2017B | ||||
08/15/2041 | 4.000% | 10,500,000 | 12,097,945 | |
Seattle Cancer Care Alliance | ||||
Series 2020 | ||||
09/01/2050 | 5.000% | 2,250,000 | 2,903,403 | |
Virginia Mason Medical Center | ||||
Series 2017 | ||||
08/15/2042 | 4.000% | 3,335,000 | 3,679,102 | |
Washington State Convention Center Public Facilities District | ||||
Revenue Bonds | ||||
Junior Lodging Tax Green Notes | ||||
Series 2021 | ||||
07/01/2031 | 4.000% | 1,000,000 | 1,193,238 | |
Washington State Housing Finance Commission | ||||
Prerefunded 01/01/23 Revenue Bonds | ||||
Presbyterian Retirement | ||||
Series 2013 | ||||
01/01/2028 | 5.000% | 985,000 | 1,051,298 | |
Revenue Bonds | ||||
Heron’s Key | ||||
Series 2015A | ||||
07/01/2030 | 6.500% | 730,000 | 809,936 | |
07/01/2035 | 6.750% | 550,000 | 612,446 | |
Washington State Housing Finance Commission(d) | ||||
Prerefunded 10/03/22 Revenue Bonds | ||||
Nonprofit Housing-Mirabella | ||||
Series 2012 | ||||
10/01/2032 | 6.500% | 9,400,000 | 10,084,161 | |
10/01/2047 | 6.750% | 1,000,000 | 1,075,057 | |
Refunding Revenue Bonds | ||||
Skyline 1st Hill Project | ||||
Series 2015 | ||||
01/01/2025 | 5.000% | 630,000 | 665,663 | |
01/01/2035 | 5.750% | 575,000 | 627,061 | |
01/01/2045 | 6.000% | 2,325,000 | 2,521,185 | |
Revenue Bonds | ||||
Heron’s Key | ||||
Series 2015A | ||||
07/01/2050 | 7.000% | 1,250,000 | 1,388,290 | |
Transforming Age Projects | ||||
Series 2019A | ||||
01/01/2055 | 5.000% | 2,250,000 | 2,549,006 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 29 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Unrefunded Revenue Bonds | ||||
Presbyterian Retirement | ||||
Series 2013 | ||||
01/01/2023 | 5.000% | 240,000 | 247,169 | |
01/01/2028 | 5.000% | 1,030,000 | 1,071,885 | |
01/01/2033 | 5.000% | 1,315,000 | 1,361,202 | |
01/01/2043 | 5.250% | 3,870,000 | 3,995,295 | |
Total | 67,532,543 | |||
West Virginia 0.8% | ||||
West Virginia Hospital Finance Authority | ||||
Refunding Revenue Bonds | ||||
Cabell Huntington Hospital Obligation | ||||
Series 2018 | ||||
01/01/2047 | 4.125% | 5,000,000 | 5,717,518 | |
Revenue Bonds | ||||
West Virginia University Health System Obligation | ||||
Series 2018 | ||||
06/01/2052 | 5.000% | 16,500,000 | 20,118,796 | |
Total | 25,836,314 | |||
Wisconsin 2.1% | ||||
Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Friends Homes | ||||
Series 2019 | ||||
09/01/2049 | 5.000% | 4,250,000 | 4,908,189 | |
Revenue Bonds | ||||
ACTS Retirement - Life Communities | ||||
Series 2020 | ||||
11/15/2041 | 5.000% | 4,000,000 | 4,918,376 | |
Public Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Mary’s Woods at Marylhurst | ||||
Series 2017 | ||||
05/15/2042 | 5.250% | 820,000 | 907,624 | |
05/15/2047 | 5.250% | 1,105,000 | 1,223,079 | |
Public Finance Authority(d),(g) | ||||
Revenue Bonds | ||||
WFCS Portfolio Project | ||||
Subordinated Series 2021 | ||||
01/01/2061 | 0.000% | 21,500,000 | 2,084,098 | |
State of Wisconsin | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
05/01/2029 | 4.000% | 10,530,000 | 12,840,426 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2021-1 | ||||
05/01/2031 | 5.000% | 2,700,000 | 3,619,129 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Wisconsin Health & Educational Facilities Authority | ||||
Prerefunded 05/15/26 Revenue Bonds | ||||
Ascension Health | ||||
Series 2016 | ||||
11/15/2046 | 4.000% | 1,390,000 | 1,616,793 | |
Prerefunded 08/15/23 Revenue Bonds | ||||
Beaver Dam Community Hospitals | ||||
Series 2013A | ||||
08/15/2028 | 5.125% | 6,750,000 | 7,416,974 | |
08/15/2034 | 5.250% | 8,000,000 | 8,810,756 | |
Refunding Revenue Bonds | ||||
St. Camillus Health System, Inc. | ||||
Series 2019 | ||||
11/01/2046 | 5.000% | 2,100,000 | 2,275,652 | |
Revenue Bonds | ||||
Covenant Communities, Inc. Project | ||||
Series 2018A | ||||
07/01/2048 | 4.000% | 2,335,000 | 2,489,999 | |
07/01/2053 | 4.125% | 5,000,000 | 5,333,732 | |
Series 2018B | ||||
07/01/2038 | 4.375% | 1,250,000 | 1,277,950 | |
07/01/2043 | 4.500% | 1,375,000 | 1,408,417 | |
07/01/2048 | 5.000% | 500,000 | 524,045 | |
St. John’s Communities, Inc. Project | ||||
Series 2018A | ||||
09/15/2050 | 5.000% | 3,750,000 | 4,015,063 | |
Unrefunded Refunding Revenue Bond | ||||
Ascension Health | ||||
Series 2016A | ||||
11/15/2046 | 4.000% | 3,610,000 | 4,111,163 | |
Total | 69,781,465 | |||
Wyoming 0.3% | ||||
County of Campbell | ||||
Refunding Revenue Bonds | ||||
Basin Electric Power Cooperative | ||||
Series 2019 | ||||
07/15/2039 | 3.625% | 7,600,000 | 8,260,302 | |
Total Municipal Bonds (Cost $3,029,252,296) | 3,265,091,567 |
30 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Money Market Funds 1.1% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(j) | 202,189 | 202,169 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(j) | 36,764,018 | 36,764,018 |
Total Money Market Funds (Cost $36,966,201) | 36,966,187 | |
Total Investments in Securities (Cost $3,078,116,029) | 3,314,235,249 | |
Other Assets & Liabilities, Net | (16,656,510) | |
Net Assets | $3,297,578,739 |
(a) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Multi-Sector Municipal Income ETF | ||||||||
6,078,122 | — | — | 174,373 | 6,252,495 | — | 127,108 | 274,473 |
(b) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(c) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of July 31, 2021. |
(d) | 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 July 31, 2021, the total value of these securities amounted to $109,015,825, which represents 3.31% of total net assets. |
(e) | Income from this security may be subject to alternative minimum tax. |
(f) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2021, the total value of these securities amounted to $54,098,074, which represents 1.64% of total net assets. |
(g) | Zero coupon bond. |
(h) | Represents a security purchased on a when-issued basis. |
(i) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At July 31, 2021, the total value of these securities amounted to $45,811,796, which represents 1.39% of total net assets. |
(j) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
FHA | Federal Housing Authority |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
HUD | Department of Housing and Urban Development |
NPFGC | National Public Finance Guarantee Corporation |
Columbia Tax-Exempt Fund | Annual Report 2021 | 31 |
July 31, 2021
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Exchange-Traded Fixed Income Funds | 6,252,495 | — | — | 6,252,495 |
Floating Rate Notes | — | 5,925,000 | — | 5,925,000 |
Municipal Bonds | — | 3,265,091,567 | — | 3,265,091,567 |
Money Market Funds | 36,966,187 | — | — | 36,966,187 |
Total Investments in Securities | 43,218,682 | 3,271,016,567 | — | 3,314,235,249 |
32 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $3,072,143,497) | $3,307,982,754 |
Affiliated issuers (cost $5,972,532) | 6,252,495 |
Receivable for: | |
Capital shares sold | 8,019,092 |
Interest | 27,422,337 |
Prepaid expenses | 38,703 |
Trustees’ deferred compensation plan | 697,875 |
Total assets | 3,350,413,256 |
Liabilities | |
Due to custodian | 40,617 |
Payable for: | |
Investments purchased on a delayed delivery basis | 40,096,419 |
Capital shares purchased | 4,080,773 |
Distributions to shareholders | 7,581,537 |
Management services fees | 39,876 |
Distribution and/or service fees | 14,853 |
Transfer agent fees | 159,124 |
Compensation of board members | 64,432 |
Compensation of chief compliance officer | 93 |
Other expenses | 58,918 |
Trustees’ deferred compensation plan | 697,875 |
Total liabilities | 52,834,517 |
Net assets applicable to outstanding capital stock | $3,297,578,739 |
Represented by | |
Paid in capital | 3,056,394,737 |
Total distributable earnings (loss) | 241,184,002 |
Total - representing net assets applicable to outstanding capital stock | $3,297,578,739 |
Class A | |
Net assets | $2,536,238,516 |
Shares outstanding | 183,305,697 |
Net asset value per share | $13.84 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $14.27 |
Advisor Class | |
Net assets | $29,770,258 |
Shares outstanding | 2,152,102 |
Net asset value per share | $13.83 |
Class C | |
Net assets | $44,739,689 |
Shares outstanding | 3,234,375 |
Net asset value per share | $13.83 |
Institutional Class | |
Net assets | $637,595,799 |
Shares outstanding | 46,076,523 |
Net asset value per share | $13.84 |
Institutional 2 Class | |
Net assets | $22,032,808 |
Shares outstanding | 1,591,918 |
Net asset value per share | $13.84 |
Institutional 3 Class | |
Net assets | $27,201,669 |
Shares outstanding | 1,960,330 |
Net asset value per share | $13.88 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 33 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $7,147 |
Dividends — affiliated issuers | 127,108 |
Interest | 114,553,447 |
Total income | 114,687,702 |
Expenses: | |
Management services fees | 14,470,072 |
Distribution and/or service fees | |
Class A | 5,028,831 |
Class C | 478,056 |
Transfer agent fees | |
Class A | 1,639,193 |
Advisor Class | 18,506 |
Class C | 32,839 |
Institutional Class | 398,770 |
Institutional 2 Class | 23,033 |
Institutional 3 Class | 1,566 |
Compensation of board members | 79,452 |
Custodian fees | 16,370 |
Printing and postage fees | 83,962 |
Registration fees | 145,046 |
Audit fees | 39,500 |
Legal fees | 61,130 |
Interest on inverse floater program | 75,624 |
Compensation of chief compliance officer | 958 |
Other | 96,868 |
Total expenses | 22,689,776 |
Fees waived by distributor | |
Class C | (73,139) |
Expense reduction | (2,913) |
Total net expenses | 22,613,724 |
Net investment income | 92,073,978 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 16,637,564 |
Futures contracts | (1,069,840) |
Net realized gain | 15,567,724 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 75,306,188 |
Investments — affiliated issuers | 174,373 |
Net change in unrealized appreciation (depreciation) | 75,480,561 |
Net realized and unrealized gain | 91,048,285 |
Net increase in net assets resulting from operations | $183,122,263 |
34 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $92,073,978 | $105,920,624 |
Net realized gain | 15,567,724 | 16,429,073 |
Net change in unrealized appreciation (depreciation) | 75,480,561 | (32,429,978) |
Net increase in net assets resulting from operations | 183,122,263 | 89,919,719 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (78,218,582) | (92,843,366) |
Advisor Class | (938,943) | (905,299) |
Class C | (1,273,646) | (1,821,962) |
Institutional Class | (20,255,431) | (25,669,579) |
Institutional 2 Class | (1,515,757) | (1,625,612) |
Institutional 3 Class | (786,951) | (761,875) |
Total distributions to shareholders | (102,989,310) | (123,627,693) |
Decrease in net assets from capital stock activity | (100,510,779) | (85,500,606) |
Total decrease in net assets | (20,377,826) | (119,208,580) |
Net assets at beginning of year | 3,317,956,565 | 3,437,165,145 |
Net assets at end of year | $3,297,578,739 | $3,317,956,565 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 35 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 9,044,414 | 123,055,854 | 17,024,920 | 228,215,858 |
Distributions reinvested | 5,440,312 | 73,812,867 | 6,453,632 | 87,258,852 |
Redemptions | (20,093,734) | (272,652,688) | (21,516,396) | (289,092,639) |
Net increase (decrease) | (5,609,008) | (75,783,967) | 1,962,156 | 26,382,071 |
Advisor Class | ||||
Subscriptions | 576,110 | 7,801,333 | 946,571 | 12,803,038 |
Distributions reinvested | 59,663 | 809,616 | 66,459 | 898,439 |
Redemptions | (460,211) | (6,256,008) | (606,957) | (8,172,881) |
Net increase | 175,562 | 2,354,941 | 406,073 | 5,528,596 |
Class C | ||||
Subscriptions | 434,523 | 5,910,689 | 934,609 | 12,661,622 |
Distributions reinvested | 88,497 | 1,199,530 | 121,873 | 1,647,939 |
Redemptions | (1,501,185) | (20,388,504) | (1,181,304) | (15,885,690) |
Net decrease | (978,165) | (13,278,285) | (124,822) | (1,576,129) |
Institutional Class | ||||
Subscriptions | 8,888,085 | 120,971,238 | 8,640,817 | 116,497,266 |
Distributions reinvested | 799,638 | 10,855,698 | 905,103 | 12,236,480 |
Redemptions | (9,033,158) | (122,718,730) | (21,463,057) | (290,004,012) |
Net increase (decrease) | 654,565 | 9,108,206 | (11,917,137) | (161,270,266) |
Institutional 2 Class | ||||
Subscriptions | 855,835 | 11,612,819 | 3,750,217 | 50,906,940 |
Distributions reinvested | 111,855 | 1,515,277 | 120,413 | 1,625,216 |
Redemptions | (3,089,416) | (42,161,772) | (815,413) | (10,749,300) |
Net increase (decrease) | (2,121,726) | (29,033,676) | 3,055,217 | 41,782,856 |
Institutional 3 Class | ||||
Subscriptions | 653,908 | 8,912,650 | 604,331 | 8,157,986 |
Distributions reinvested | 54,163 | 737,556 | 51,842 | 702,132 |
Redemptions | (259,378) | (3,528,204) | (391,977) | (5,207,852) |
Net increase | 448,693 | 6,122,002 | 264,196 | 3,652,266 |
Total net decrease | (7,430,079) | (100,510,779) | (6,354,317) | (85,500,606) |
36 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $13.50 | 0.38 | 0.38 | 0.76 | (0.38) | (0.04) | (0.42) |
Year Ended 7/31/2020 | $13.63 | 0.43 | (0.06) | 0.37 | (0.43) | (0.07) | (0.50) |
Year Ended 7/31/2019 | $13.35 | 0.50 | 0.34 | 0.84 | (0.55) | (0.01) | (0.56) |
Year Ended 7/31/2018 | $13.60 | 0.53 | (0.25) | 0.28 | (0.53) | — | (0.53) |
Year Ended 7/31/2017 | $14.25 | 0.55 | (0.66) | (0.11) | (0.54) | — | (0.54) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $13.50 | 0.40 | 0.38 | 0.78 | (0.41) | (0.04) | (0.45) |
Year Ended 7/31/2020 | $13.63 | 0.45 | (0.05) | 0.40 | (0.46) | (0.07) | (0.53) |
Year Ended 7/31/2019 | $13.35 | 0.52 | 0.35 | 0.87 | (0.58) | (0.01) | (0.59) |
Year Ended 7/31/2018 | $13.60 | 0.56 | (0.25) | 0.31 | (0.56) | — | (0.56) |
Year Ended 7/31/2017 | $14.25 | 0.57 | (0.65) | (0.08) | (0.57) | — | (0.57) |
Class C | |||||||
Year Ended 7/31/2021 | $13.50 | 0.29 | 0.38 | 0.67 | (0.30) | (0.04) | (0.34) |
Year Ended 7/31/2020 | $13.63 | 0.34 | (0.06) | 0.28 | (0.34) | (0.07) | (0.41) |
Year Ended 7/31/2019 | $13.35 | 0.41 | 0.35 | 0.76 | (0.47) | (0.01) | (0.48) |
Year Ended 7/31/2018 | $13.60 | 0.44 | (0.25) | 0.19 | (0.44) | — | (0.44) |
Year Ended 7/31/2017 | $14.24 | 0.46 | (0.65) | (0.19) | (0.45) | — | (0.45) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $13.50 | 0.40 | 0.39 | 0.79 | (0.41) | (0.04) | (0.45) |
Year Ended 7/31/2020 | $13.64 | 0.45 | (0.06) | 0.39 | (0.46) | (0.07) | (0.53) |
Year Ended 7/31/2019 | $13.35 | 0.52 | 0.36 | 0.88 | (0.58) | (0.01) | (0.59) |
Year Ended 7/31/2018 | $13.60 | 0.56 | (0.25) | 0.31 | (0.56) | — | (0.56) |
Year Ended 7/31/2017 | $14.25 | 0.57 | (0.65) | (0.08) | (0.57) | — | (0.57) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $13.50 | 0.41 | 0.38 | 0.79 | (0.41) | (0.04) | (0.45) |
Year Ended 7/31/2020 | $13.64 | 0.45 | (0.06) | 0.39 | (0.46) | (0.07) | (0.53) |
Year Ended 7/31/2019 | $13.35 | 0.52 | 0.36 | 0.88 | (0.58) | (0.01) | (0.59) |
Year Ended 7/31/2018 | $13.60 | 0.56 | (0.25) | 0.31 | (0.56) | — | (0.56) |
Year Ended 7/31/2017 | $14.25 | 0.58 | (0.66) | (0.08) | (0.57) | — | (0.57) |
38 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 7/31/2021 | $13.84 | 5.74% | 0.72%(c) | 0.72%(c),(d) | 2.78% | 13% | $2,536,239 |
Year Ended 7/31/2020 | $13.50 | 2.76% | 0.73%(c) | 0.73%(c),(d) | 3.16% | 29% | $2,550,497 |
Year Ended 7/31/2019 | $13.63 | 6.51% | 0.73% | 0.73% | 3.74% | 20% | $2,548,777 |
Year Ended 7/31/2018 | $13.35 | 2.08% | 0.72% | 0.72%(d) | 3.93% | 17% | $2,642,009 |
Year Ended 7/31/2017 | $13.60 | (0.70%) | 0.72%(c),(e) | 0.72%(c),(d),(e) | 3.98% | 13% | $2,882,268 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $13.83 | 5.88% | 0.52%(c) | 0.52%(c),(d) | 2.97% | 13% | $29,770 |
Year Ended 7/31/2020 | $13.50 | 2.96% | 0.53%(c) | 0.53%(c),(d) | 3.36% | 29% | $26,679 |
Year Ended 7/31/2019 | $13.63 | 6.72% | 0.53% | 0.53% | 3.93% | 20% | $21,407 |
Year Ended 7/31/2018 | $13.35 | 2.29% | 0.52% | 0.52%(d) | 4.16% | 17% | $13,745 |
Year Ended 7/31/2017 | $13.60 | (0.50%) | 0.52%(c),(e) | 0.52%(c),(d),(e) | 4.20% | 13% | $6,997 |
Class C | |||||||
Year Ended 7/31/2021 | $13.83 | 5.03% | 1.47%(c) | 1.33%(c),(d) | 2.17% | 13% | $44,740 |
Year Ended 7/31/2020 | $13.50 | 2.09% | 1.48%(c) | 1.38%(c),(d) | 2.51% | 29% | $56,855 |
Year Ended 7/31/2019 | $13.63 | 5.82% | 1.48% | 1.38% | 3.09% | 20% | $59,114 |
Year Ended 7/31/2018 | $13.35 | 1.42% | 1.47% | 1.37%(d) | 3.27% | 17% | $72,134 |
Year Ended 7/31/2017 | $13.60 | (1.27%) | 1.47%(c),(e) | 1.37%(c),(d),(e) | 3.33% | 13% | $105,081 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $13.84 | 5.95% | 0.52%(c) | 0.52%(c),(d) | 2.97% | 13% | $637,596 |
Year Ended 7/31/2020 | $13.50 | 2.89% | 0.53%(c) | 0.53%(c),(d) | 3.37% | 29% | $613,307 |
Year Ended 7/31/2019 | $13.64 | 6.80% | 0.53% | 0.53% | 3.94% | 20% | $781,834 |
Year Ended 7/31/2018 | $13.35 | 2.29% | 0.52% | 0.52%(d) | 4.13% | 17% | $775,309 |
Year Ended 7/31/2017 | $13.60 | (0.50%) | 0.52%(c),(e) | 0.52%(c),(d),(e) | 4.18% | 13% | $807,282 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $13.84 | 5.97% | 0.51%(c) | 0.51%(c) | 3.00% | 13% | $22,033 |
Year Ended 7/31/2020 | $13.50 | 2.90% | 0.52%(c) | 0.52%(c) | 3.36% | 29% | $50,150 |
Year Ended 7/31/2019 | $13.64 | 6.81% | 0.52% | 0.52% | 3.94% | 20% | $8,978 |
Year Ended 7/31/2018 | $13.35 | 2.29% | 0.51% | 0.51% | 4.16% | 17% | $6,239 |
Year Ended 7/31/2017 | $13.60 | (0.47%) | 0.51%(c),(e) | 0.51%(c),(e) | 4.21% | 13% | $1,990 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 39 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $13.54 | 0.41 | 0.39 | 0.80 | (0.42) | (0.04) | (0.46) |
Year Ended 7/31/2020 | $13.67 | 0.46 | (0.06) | 0.40 | (0.46) | (0.07) | (0.53) |
Year Ended 7/31/2019 | $13.39 | 0.53 | 0.35 | 0.88 | (0.59) | (0.01) | (0.60) |
Year Ended 7/31/2018 | $13.64 | 0.57 | (0.26) | 0.31 | (0.56) | — | (0.56) |
Year Ended 7/31/2017(f) | $13.45 | 0.23 | 0.19(g) | 0.42 | (0.23) | — | (0.23) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest and fee expense related to the participation in certain inverse floater programs. If interest and fee expense related to the participation in certain inverse floater programs had been excluded, expenses would have been lower by less than 0.01%. Due to an equal increase in interest income from fixed rate municipal bonds held in trust, there is no impact on the Fund’s net assets, net asset value per share, total return or net investment income. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Advisor Class | Class C | Institutional Class | Institutional 2 Class |
07/31/2017 | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | 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. |
(h) | Annualized. |
(i) | Ratios include interest and fee expense related to the participation in certain inverse floater programs. If interest and fee expense related to the participation in certain inverse floater programs had been excluded, expenses would have been lower by 0.01%. Due to an equal increase in interest income from fixed rate municipal bonds held in trust, there is no impact on the Fund’s net assets, net asset value per share, total return or net investment income. |
40 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $13.88 | 6.01% | 0.47%(c) | 0.47%(c) | 3.03% | 13% | $27,202 |
Year Ended 7/31/2020 | $13.54 | 3.03% | 0.47%(c) | 0.47%(c) | 3.42% | 29% | $20,467 |
Year Ended 7/31/2019 | $13.67 | 6.78% | 0.47% | 0.47% | 3.97% | 20% | $17,056 |
Year Ended 7/31/2018 | $13.39 | 2.35% | 0.47% | 0.47% | 4.25% | 17% | $7,731 |
Year Ended 7/31/2017(f) | $13.64 | 3.17% | 0.49%(h),(i) | 0.49%(h),(i) | 4.19%(h) | 13% | $71 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 41 |
July 31, 2021
42 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Columbia Tax-Exempt Fund | Annual Report 2021 | 43 |
July 31, 2021
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (1,069,840) |
44 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 56,542,561 |
* | Based on the ending daily outstanding amounts for the year ended July 31, 2021. |
Columbia Tax-Exempt Fund | Annual Report 2021 | 45 |
July 31, 2021
46 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Columbia Tax-Exempt Fund | Annual Report 2021 | 47 |
July 31, 2021
Effective rate (%) | |
Class A | 0.07 |
Advisor Class | 0.07 |
Class C | 0.07 |
Institutional Class | 0.07 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 521,730 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
48 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Fee rate(s) contractual through November 30, 2021 | |
Class A | 0.80% |
Advisor Class | 0.60 |
Class C | 1.55 |
Institutional Class | 0.60 |
Institutional 2 Class | 0.59 |
Institutional 3 Class | 0.54 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
32,673 | (32,673) | — |
Columbia Tax-Exempt Fund | Annual Report 2021 | 49 |
July 31, 2021
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
14,405 | 92,260,536 | 10,714,369 | 102,989,310 | 5,757,611 | 104,497,039 | 13,373,043 | 123,627,693 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 28,454,445 | 13,555,114 | — | 207,517,016 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
3,106,718,233 | 263,428,653 | (55,911,637) | 207,517,016 |
50 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Columbia Tax-Exempt Fund | Annual Report 2021 | 51 |
July 31, 2021
52 | Columbia Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Columbia Tax-Exempt Fund | Annual Report 2021 | 53 |
54 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Capital gain dividend | Exempt- interest dividends |
$14,822,233 | 99.98% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 55 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
56 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Tax-Exempt Fund | Annual Report 2021 | 57 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
58 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Tax-Exempt Fund | Annual Report 2021 | 59 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Petersen, who is Senior Vice President and Assistant Secretary, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
60 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | 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 Tax-Exempt Fund | Annual Report 2021 | 61 |
• | 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). |
62 | Columbia Tax-Exempt Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Tax-Exempt Fund | Annual Report 2021 | 63 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
64 | Columbia Tax-Exempt Fund | Annual Report 2021 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Tax-Exempt Fund | Annual Report 2021 | 65 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
22 | |
23 | |
24 | |
26 | |
28 | |
40 | |
41 | |
41 | |
47 | |
48 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A* | 02/20/19 | 0.56 | 1.46 | 0.91 | |
Advisor Class* | 12/03/18 | 0.71 | 1.63 | 1.07 | |
Institutional Class* | 12/03/18 | 0.71 | 1.64 | 1.08 | |
Institutional 3 Class | 03/08/04 | 0.75 | 1.72 | 1.17 | |
Bloomberg Barclays U.S. Short-Term Government/Corporate Index | 0.22 | 1.47 | 0.90 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Asset-Backed Securities — Non-Agency | 34.1 |
Commercial Mortgage-Backed Securities - Non-Agency | 0.4 |
Commercial Paper | 0.5 |
Corporate Bonds & Notes | 50.4 |
Foreign Government Obligations | 1.0 |
Money Market Funds | 1.8 |
Residential Mortgage-Backed Securities - Agency | 0.0(a) |
Residential Mortgage-Backed Securities - Non-Agency | 7.9 |
Treasury Bills | 1.5 |
U.S. Government & Agency Obligations | 2.4 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at July 31, 2021) | |
AAA rating | 24.7 |
AA rating | 16.7 |
A rating | 31.5 |
BBB rating | 23.4 |
Not rated | 3.7 |
Total | 100.0 |
4 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
• | The Fund benefited most from its consistent overweight in spread products, relative to the benchmark, during the period. |
• | The Fund was overweight in short corporates, which produced strong positive excess returns across most subsectors. |
• | The Fund was also overweight in securities rated A and BBB, which added to the Fund’s outperformance of the benchmark, as lower quality bonds outperformed higher quality bonds during the period. |
• | Performance was further enhanced by meaningful out-of-benchmark positioning in ABS, which also generated strong excess returns during the period. |
• | More modest exposures to short non-agency CMOs and CMBS also contributed, as spreads tightened across all sectors during the reporting period. |
• | To be overweight in spread products, the Fund was significantly underweight U.S. Treasuries, which underperformed, which also contributed to performance relative to the benchmark. |
• | The Fund had cashflow exposures in the 1–3-year part of the yield curve, which the benchmark did not. While rates were flat or lower in the shortest part of the curve (0-1 year), rates rose further out on the curve, which detracted somewhat from the performance of those exposures. The Fund did use Treasury futures to help offset much of this longer curve exposure. |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 5 |
6 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,001.30 | 1,022.79 | 2.15 | 2.17 | 0.43 |
Advisor Class | 1,000.00 | 1,000.00 | 1,002.10 | 1,023.49 | 1.45 | 1.46 | 0.29 |
Institutional Class | 1,000.00 | 1,000.00 | 1,002.10 | 1,023.54 | 1.40 | 1.41 | 0.28 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,002.30 | 1,023.73 | 1.20 | 1.21 | 0.24 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 7 |
July 31, 2021
Asset-Backed Securities — Non-Agency 34.1% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
ACC Auto Trust(a) | ||||
Series 2021-A Class A | ||||
04/15/2027 | 1.080% | 15,175,000 | 15,175,586 | |
ACC Trust(a) | ||||
Series 2021-1 Class A | ||||
11/20/2023 | 0.740% | 5,244,331 | 5,242,863 | |
Affirm Asset Securitization Trust(a) | ||||
Series 2021-A Class A | ||||
08/15/2025 | 0.880% | 19,050,000 | 19,088,885 | |
Subordinated Series 2021-A Class B | ||||
08/15/2025 | 1.060% | 3,250,000 | 3,255,893 | |
American Credit Acceptance Receivables Trust(a) | ||||
Series 2019-4 Class C | ||||
12/12/2025 | 2.690% | 5,307,000 | 5,364,341 | |
Series 2020-2 Class A | ||||
12/13/2023 | 1.650% | 495,886 | 496,773 | |
Series 2021-1 Class A | ||||
05/13/2024 | 0.350% | 5,873,217 | 5,875,145 | |
Series 2021-2 Class A | ||||
10/15/2024 | 0.370% | 1,134,523 | 1,134,975 | |
Series 2021-3 Class A | ||||
06/13/2025 | 0.330% | 11,860,000 | 11,864,969 | |
Subordinated Series 2018-2 Class D | ||||
07/10/2024 | 4.070% | 3,024,511 | 3,073,865 | |
Subordinated Series 2018-4 Class C | ||||
01/13/2025 | 3.970% | 380,237 | 380,611 | |
Subordinated Series 2019-1 Class D | ||||
04/14/2025 | 3.810% | 2,475,000 | 2,541,989 | |
Subordinated Series 2020-2 Class B | ||||
09/13/2024 | 2.480% | 11,100,000 | 11,225,493 | |
Subordinated Series 2020-3 Class B | ||||
08/13/2024 | 1.150% | 4,750,000 | 4,772,381 | |
Subordinated Series 2020-3 Class C | ||||
06/15/2026 | 1.850% | 4,275,000 | 4,344,267 | |
AmeriCredit Automobile Receivables Trust | ||||
Series 2020-2 Class A2A | ||||
12/18/2023 | 0.600% | 602,956 | 603,549 | |
Arivo Acceptance Auto Loan Receivables Trust(a) | ||||
Series 2021-1A Class A | ||||
01/15/2027 | 1.190% | 14,880,142 | 14,912,768 | |
Avant Loans Funding Trust(a) | ||||
Series 2020-REV1 Class A | ||||
05/15/2029 | 2.170% | 7,300,000 | 7,311,120 | |
Avis Budget Rental Car Funding AESOP LLC(a) | ||||
Series 2016-2A Class A | ||||
11/20/2022 | 2.720% | 16,666,667 | 16,739,538 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2017-1A Class A | ||||
09/20/2023 | 3.070% | 8,520,000 | 8,737,995 | |
Series 2017-2A Class A | ||||
03/20/2024 | 2.970% | 18,780,000 | 19,464,813 | |
Series 2019-1A Class A | ||||
03/20/2023 | 3.450% | 14,720,000 | 14,919,577 | |
BCC Funding XVII LLC(a) | ||||
Series 2020-1 Class A2 | ||||
08/20/2025 | 0.910% | 4,000,000 | 4,009,490 | |
Carmax Auto Owner Trust | ||||
Series 2019-3 Class A3 | ||||
08/15/2024 | 2.180% | 2,065,136 | 2,093,172 | |
CarMax Auto Owner Trust | ||||
Series 2020-2 Class A3 | ||||
11/15/2024 | 1.700% | 7,170,000 | 7,248,555 | |
CarNow Auto Receivables Trust(a) | ||||
Series 2021-1A Class A | ||||
10/15/2024 | 0.970% | 9,738,494 | 9,745,088 | |
Carvana Auto Receivables Trust | ||||
Series 2021-N1 Class A | ||||
01/10/2028 | 0.700% | 17,738,603 | 17,726,679 | |
Series 2021-N2 Class A1 | ||||
03/10/2028 | 0.320% | 14,683,700 | 14,681,393 | |
Carvana Auto Receivables Trust(a) | ||||
Subordinated Series 2019-3A Class B | ||||
04/15/2024 | 2.510% | 23,498,528 | 23,675,937 | |
CCG Receivables Trust(a) | ||||
Series 2019-1 Class A2 | ||||
09/14/2026 | 2.800% | 1,654,677 | 1,671,370 | |
Series 2019-2 Class A2 | ||||
03/15/2027 | 2.110% | 2,311,965 | 2,337,494 | |
Series 2020-1 Class A2 | ||||
12/14/2027 | 0.540% | 8,663,325 | 8,680,550 | |
Series 2021-1 Class A2 | ||||
06/14/2027 | 0.300% | 9,025,000 | 9,014,702 | |
Chase Auto Credit Linked Notes(a) | ||||
Subordinated Series 2020-2 Class B | ||||
02/25/2028 | 0.840% | 16,197,211 | 16,217,162 | |
Subordinated Series 2020-2 Class C | ||||
02/25/2028 | 1.140% | 2,506,711 | 2,512,089 | |
Chase Auto Credit-Linked Notes(a) | ||||
Subordinated Series 2020-1 Class B | ||||
01/25/2028 | 0.991% | 4,191,995 | 4,202,354 | |
Chesapeake Funding II LLC(a) | ||||
Series 2018-2A Class A1 | ||||
08/15/2030 | 3.230% | 543,036 | 545,989 |
8 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CIG Auto Receivables Trust(a) | ||||
Series 2020-1A Class A | ||||
10/12/2023 | 0.680% | 3,971,922 | 3,975,042 | |
CNH Equipment Trust | ||||
Series 2018-A Class A4 | ||||
04/15/2025 | 3.300% | 1,270,000 | 1,294,682 | |
Credit Acceptance Auto Loan Trust(a) | ||||
Series 2019-1A Class A | ||||
02/15/2028 | 3.330% | 12,583,623 | 12,659,568 | |
Series 2020-1A Class A | ||||
02/15/2029 | 2.010% | 4,860,000 | 4,937,079 | |
Series 2020-2A Class A | ||||
07/16/2029 | 1.370% | 3,250,000 | 3,288,808 | |
Credito Real USA Auto Receivables Trust(a) | ||||
Series 2021-1A Class A | ||||
02/16/2027 | 1.350% | 7,617,555 | 7,615,172 | |
Crossroads Asset Trust(a) | ||||
Series 2021-A Class A2 | ||||
03/20/2024 | 0.820% | 3,500,000 | 3,503,963 | |
Dell Equipment Finance Trust(a) | ||||
Series 2020-1 Class A2 | ||||
06/22/2022 | 2.260% | 8,290,070 | 8,349,231 | |
Dext ABS LLC(a) | ||||
Series 2020-1 Class A | ||||
02/16/2027 | 1.460% | 15,282,697 | 15,341,459 | |
Discover Card Execution Note Trust | ||||
Series 2019-A1 Class A1 | ||||
07/15/2024 | 3.040% | 3,350,000 | 3,394,372 | |
DLL LLC(a) | ||||
Series 2018-ST2 Class A4 | ||||
06/20/2024 | 3.590% | 14,349,234 | 14,427,288 | |
Series 2019-DA1 Class A3 | ||||
04/20/2023 | 2.890% | 5,254,349 | 5,292,826 | |
Series 2019-MT3 Class A3 | ||||
02/21/2023 | 2.080% | 39,867,107 | 40,119,390 | |
DLL Securitization Trust(a) | ||||
Series 2017-A Class A4 | ||||
11/17/2025 | 2.430% | 252,541 | 253,081 | |
Drive Auto Receivables Trust | ||||
Series 2019-2 Class C | ||||
06/16/2025 | 3.420% | 626,431 | 634,447 | |
Series 2020-2 Class A2A | ||||
07/17/2023 | 0.850% | 43,767 | 43,778 | |
Subordinated Series 2018-1 Class D | ||||
05/15/2024 | 3.810% | 1,663,643 | 1,680,813 | |
Subordinated Series 2018-3 Class D | ||||
09/16/2024 | 4.300% | 6,001,337 | 6,118,515 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated Series 2018-4 Class D | ||||
01/15/2026 | 4.090% | 6,565,693 | 6,733,210 | |
Subordinated Series 2020-1 Class B | ||||
07/15/2024 | 2.080% | 15,000,000 | 15,077,972 | |
DT Auto Owner Trust(a) | ||||
Series 2017-3A Class E | ||||
08/15/2024 | 5.600% | 4,122,438 | 4,173,611 | |
Series 2019-3A Class B | ||||
05/15/2023 | 2.600% | 609,556 | 610,104 | |
Series 2019-3A Class C | ||||
04/15/2025 | 2.740% | 8,900,000 | 9,000,804 | |
Series 2020-1A Class A | ||||
09/15/2023 | 1.940% | 1,036,746 | 1,038,705 | |
Series 2020-2A Class B | ||||
03/16/2026 | 2.080% | 2,500,000 | 2,536,521 | |
Series 2020-2A Class C | ||||
03/16/2026 | 3.280% | 3,000,000 | 3,120,709 | |
Series 2020-3A Class A | ||||
04/15/2024 | 0.540% | 2,964,693 | 2,967,994 | |
Series 2021-1A Class A | ||||
01/15/2025 | 0.350% | 4,507,366 | 4,509,659 | |
Subordinated Series 2018-3A Class C | ||||
07/15/2024 | 3.790% | 3,964,498 | 3,975,542 | |
Subordinated Series 2019-4A Class C | ||||
07/15/2025 | 2.730% | 12,000,000 | 12,185,576 | |
Enterprise Fleet Financing LLC(a) | ||||
Series 2019-1 Class A2 | ||||
10/20/2024 | 2.980% | 6,057,845 | 6,101,416 | |
Exeter Automobile Receivables Trust(a) | ||||
Series 2019-2A Class C | ||||
03/15/2024 | 3.300% | 9,784,476 | 9,880,808 | |
Series 2020-2A Class A | ||||
08/15/2023 | 1.130% | 229,378 | 229,479 | |
Series 2020-2A Class B | ||||
07/15/2024 | 2.080% | 16,600,000 | 16,717,583 | |
Series 2020-2A Class C | ||||
05/15/2025 | 3.280% | 18,000,000 | 18,568,159 | |
Subordinated Series 2018-4A Class C | ||||
09/15/2023 | 3.970% | 3,324,084 | 3,334,046 | |
FHF Trust(a) | ||||
Series 2021-1A Class A | ||||
03/15/2027 | 1.270% | 9,435,483 | 9,437,979 | |
Flagship Credit Auto Trust(a) | ||||
Series 2021-1 Class A | ||||
06/16/2025 | 0.310% | 2,543,464 | 2,543,587 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 9 |
July 31, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Ford Credit Auto Lease Trust | ||||
Series 2019-B Class A3 | ||||
10/15/2022 | 2.220% | 2,301,802 | 2,307,039 | |
Ford Credit Auto Owner Trust(a) | ||||
Series 2017-1 Class A | ||||
08/15/2028 | 2.620% | 14,499,000 | 14,687,691 | |
Series 2017-2 Class A | ||||
03/15/2029 | 2.360% | 1,000,000 | 1,014,424 | |
Ford Credit Floorplan Master Owner Trust | ||||
Series 2019-1 Class A | ||||
03/15/2024 | 2.840% | 7,636,000 | 7,759,840 | |
Ford Credit Floorplan Master Owner Trust A | ||||
Series 2018-3 Class A1 | ||||
10/15/2023 | 3.520% | 19,292,000 | 19,426,504 | |
Series 2019-3 Class A1 | ||||
09/15/2024 | 2.230% | 22,975,000 | 23,482,966 | |
Foursight Capital Automobile Receivables Trust(a) | ||||
Series 2021-1 Class A2 | ||||
08/15/2024 | 0.400% | 10,859,425 | 10,867,316 | |
Freed ABS Trust(a) | ||||
Series 2021-1CP Class A | ||||
03/20/2028 | 0.660% | 4,996,367 | 4,999,218 | |
FREED ABS Trust(a) | ||||
Series 2021-2 Class A | ||||
06/19/2028 | 0.680% | 7,173,113 | 7,173,405 | |
GLS Auto Receivables Issuer Trust(a) | ||||
Series 2019-3A Class A | ||||
07/17/2023 | 2.580% | 607,572 | 608,688 | |
Series 2019-4A Class A | ||||
11/15/2023 | 2.470% | 2,979,568 | 2,992,803 | |
Series 2020-1A Class A | ||||
02/15/2024 | 2.170% | 1,784,657 | 1,791,953 | |
Series 2020-2A Class A | ||||
08/15/2024 | 1.580% | 11,171,094 | 11,247,399 | |
Series 2020-3A Class B | ||||
08/15/2024 | 1.380% | 8,250,000 | 8,301,316 | |
Subordinated Series 2019-3A Class B | ||||
06/17/2024 | 2.720% | 10,000,000 | 10,122,684 | |
Subordinated Series 2019-4A Class B | ||||
09/16/2024 | 2.780% | 4,500,000 | 4,586,955 | |
Subordinated Series 2020-4A Class B | ||||
12/16/2024 | 0.870% | 20,000,000 | 19,994,944 | |
GLS Auto Receivables Trust(a) | ||||
Subordinated Series 2021-2A Class B | ||||
09/15/2025 | 0.770% | 9,050,000 | 9,041,371 | |
GM Financial Automobile Leasing Trust | ||||
Series 2019-3 Class A4 | ||||
07/20/2023 | 2.030% | 5,300,000 | 5,325,448 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020-2 Class A2A | ||||
10/20/2022 | 0.710% | 661,441 | 662,438 | |
GM Financial Consumer Automobile Receivables Trust | ||||
Series 2018-3 Class A3 | ||||
05/16/2023 | 3.020% | 1,036,381 | 1,043,767 | |
GreatAmerica Leasing Receivables Funding LLC(a) | ||||
Series 2021-1 Class A2 | ||||
06/15/2023 | 0.270% | 5,000,000 | 5,002,280 | |
Harley-Davidson Motorcycle Trust | ||||
Series 2021-A Class A2 | ||||
04/15/2024 | 0.220% | 4,577,586 | 4,577,784 | |
Honda Auto Receivables Owner Trust | ||||
Series 2019-1 Class A3 | ||||
03/20/2023 | 2.830% | 958,791 | 968,753 | |
HPEFS Equipment Trust(a) | ||||
Series 2019-1A Class B | ||||
09/20/2029 | 2.320% | 1,512,000 | 1,523,147 | |
Series 2020-1A Class A2 | ||||
02/20/2030 | 1.730% | 763,363 | 765,110 | |
Series 2020-2A Class A2 | ||||
07/22/2030 | 0.650% | 16,107,175 | 16,124,746 | |
Hyundai Auto Receivables Trust | ||||
Series 2020-A Class A2 | ||||
04/17/2023 | 1.510% | 3,637,827 | 3,649,219 | |
JPMorgan Chase Bank NA(a) | ||||
Subordinated Series 2021-1 Class C | ||||
09/25/2028 | 1.024% | 14,014,494 | 14,020,175 | |
Subordinated Series 2021-2 Class C | ||||
12/26/2028 | 0.969% | 2,400,000 | 2,399,681 | |
Kubota Credit Owner Trust(a) | ||||
Series 2018-1A Class A3 | ||||
08/15/2022 | 3.100% | 247,321 | 248,069 | |
Series 2020-1A Class A2 | ||||
12/15/2022 | 1.920% | 2,612,501 | 2,620,380 | |
Lendingpoint Asset Securitization Trust(a) | ||||
Series 2021-A Class A | ||||
12/15/2028 | 1.000% | 46,100,000 | 46,102,572 | |
Marlette Funding Trust(a) | ||||
Series 2019-2A Class A | ||||
07/16/2029 | 3.130% | 225,109 | 225,623 | |
Series 2020-1A Class A | ||||
03/15/2030 | 2.240% | 1,268,013 | 1,269,265 | |
Series 2020-2A Class A | ||||
09/16/2030 | 1.020% | 893,340 | 893,937 | |
Series 2021-1A Class A | ||||
06/16/2031 | 0.600% | 5,611,274 | 5,614,031 | |
Series 2021-2A Class A | ||||
09/15/2031 | 0.510% | 30,400,000 | 30,403,803 |
10 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
MMAF Equipment Finance LLC(a) | ||||
Series 2016-AA Class A4 | ||||
01/17/2023 | 1.760% | 68,013 | 68,099 | |
Series 2017-B Class A4 | ||||
11/15/2024 | 2.410% | 1,065,098 | 1,076,032 | |
Series 2020-A Class A2 | ||||
04/09/2024 | 0.740% | 1,059,410 | 1,063,479 | |
MVW Owner Trust(a) | ||||
Series 2017-1A Class A | ||||
12/20/2034 | 2.420% | 4,424,506 | 4,519,751 | |
New Residential Advance Receivables Trust Advance Receivables-Backed Notes(a) | ||||
Series 2020-APT1 Class AT1 | ||||
12/16/2052 | 1.035% | 10,500,000 | 10,539,076 | |
Subordinated Series 2020-APT1 Class DT1 | ||||
12/16/2052 | 1.999% | 3,750,000 | 3,755,996 | |
NextGear Floorplan Master Owner Trust(a) | ||||
Series 2018-2A Class A2 | ||||
10/16/2023 | 3.690% | 12,325,000 | 12,389,426 | |
Series 2019-1A Class A2 | ||||
02/15/2024 | 3.210% | 10,856,000 | 11,028,727 | |
Subordinated Series 2020-1A Class A2 | ||||
02/18/2025 | 1.550% | 5,644,000 | 5,737,734 | |
NextGear Floorplan Master Owner Trust(a),(b) | ||||
Series 2020-1A Class A1 | ||||
1-month USD LIBOR + 0.800% 02/15/2025 | 0.870% | 8,575,000 | 8,655,621 | |
Nissan Auto Receivables Trust | ||||
Series 2020-A Class A2 | ||||
12/15/2022 | 1.450% | 1,714,837 | 1,717,744 | |
NMEF Funding LLC(a) | ||||
Series 2019-A Class A | ||||
08/17/2026 | 2.730% | 1,350,639 | 1,353,827 | |
Series 2021-A Class A2 | ||||
12/15/2027 | 0.810% | 30,000,000 | 29,985,783 | |
NRZ Advance Receivables Trust(a) | ||||
Series 2020-T3 Class AT3 | ||||
10/15/2052 | 1.317% | 7,890,000 | 7,925,271 | |
Octane Receivables Trust(a) | ||||
Series 2020-1A Class A | ||||
02/20/2025 | 1.710% | 19,625,322 | 19,807,302 | |
OneMain Direct Auto Receivables Trust(a) | ||||
Series 2018-1A Class A | ||||
12/16/2024 | 3.430% | 6,377,641 | 6,398,731 | |
Subordinated Series 2018-1A Class C | ||||
10/14/2025 | 3.850% | 6,715,000 | 6,779,191 | |
OneMain Financial Issuance Trust(a) | ||||
Series 2018-1A Class A | ||||
03/14/2029 | 3.300% | 3,361,200 | 3,372,711 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Oscar US Funding XIII LLC(a),(c) | ||||
Series 2021-2A Class A2 | ||||
08/12/2024 | 0.390% | 11,250,000 | 11,250,000 | |
Pagaya AI Debt Selection Trust(a) | ||||
Series 2020-3 Class A | ||||
05/17/2027 | 2.100% | 10,222,176 | 10,278,851 | |
Series 2021-1 Class A | ||||
11/15/2027 | 1.180% | 27,497,836 | 27,566,303 | |
Prestige Auto Receivables Trust(a) | ||||
Subordinated Series 2019-1A Class B | ||||
01/16/2024 | 2.530% | 8,371,000 | 8,427,284 | |
Santander Drive Auto Receivables Trust | ||||
Series 2020-3 Class A2 | ||||
09/15/2023 | 0.460% | 5,681,956 | 5,682,954 | |
Series 2021-1 Class A3 | ||||
09/16/2024 | 0.320% | 14,900,000 | 14,909,901 | |
Series 2021-3 Class A2 | ||||
05/15/2024 | 0.290% | 10,800,000 | 10,799,958 | |
Subordinated Series 2020-1 Class B | ||||
11/15/2024 | 3.030% | 11,417,000 | 11,616,505 | |
SCF Equipment Leasing(a) | ||||
Series 2019-2A Class A1 | ||||
06/20/2024 | 2.220% | 2,821,432 | 2,839,926 | |
SCF Equipment Leasing LLC(a) | ||||
Series 2020-1A Class A2 | ||||
10/20/2025 | 0.680% | 6,846,866 | 6,861,535 | |
Series 2021-1A Class A2 | ||||
08/20/2026 | 0.420% | 15,700,000 | 15,696,992 | |
SoFi Consumer Loan Program LLC(a) | ||||
Subordinated Series 2017-6 Class B | ||||
11/25/2026 | 3.520% | 3,070,428 | 3,096,194 | |
SoFi Consumer Loan Program Trust(a) | ||||
Series 2018-3 Class B | ||||
08/25/2027 | 4.020% | 5,386,021 | 5,449,117 | |
Series 2019-2 Class A | ||||
04/25/2028 | 3.010% | 865,298 | 866,639 | |
Series 2019-3 Class A | ||||
05/25/2028 | 2.900% | 2,945,166 | 2,952,126 | |
Series 2019-4 Class A | ||||
08/25/2028 | 2.450% | 1,625,402 | 1,633,012 | |
Series 2020-1 Class A | ||||
01/25/2029 | 2.020% | 2,028,093 | 2,043,828 | |
Theorem Funding Trust(a) | ||||
Series 2020-1A Class A | ||||
10/15/2026 | 2.480% | 3,870,404 | 3,887,837 | |
Toyota Auto Receivables Owner Trust | ||||
Series 2020-B Class A2 | ||||
12/15/2022 | 1.380% | 1,491,070 | 1,493,604 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 11 |
July 31, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Tricolor Auto Securitization Trust(a) | ||||
Series 2021-1A Class A | ||||
04/15/2024 | 0.740% | 9,300,000 | 9,299,967 | |
Subordinated Series 2021-1A Class B | ||||
06/17/2024 | 1.000% | 2,450,000 | 2,449,794 | |
United Auto Credit Securitization Trust(a) | ||||
Series 2020-1 Class B | ||||
11/10/2022 | 1.470% | 4,792,509 | 4,799,598 | |
Series 2021-1 Class A | ||||
07/10/2023 | 0.340% | 7,856,367 | 7,856,947 | |
Upstart Pass-Through Trust(a) | ||||
Series 2020-ST6 Class A | ||||
01/20/2027 | 3.000% | 4,104,567 | 4,161,537 | |
Series 2021-ST2 Class A | ||||
04/20/2027 | 2.500% | 2,582,993 | 2,613,804 | |
Series 2021-ST6 Class A | ||||
08/20/2027 | 1.850% | 6,925,000 | 6,928,904 | |
Upstart Securitization Trust(a) | ||||
Series 2020-3 Class A | ||||
11/20/2030 | 1.702% | 8,199,657 | 8,246,313 | |
Series 2021-1 Class A | ||||
03/20/2031 | 0.870% | 7,998,998 | 8,017,037 | |
Series 2021-3 Class A | ||||
07/20/2031 | 0.830% | 39,925,000 | 39,928,246 | |
Verizon Owner Trust | ||||
Series 2018-A Class A1A | ||||
04/20/2023 | 3.230% | 1,652,870 | 1,663,737 | |
Series 2019-C Class A1A | ||||
04/22/2024 | 1.940% | 9,959,000 | 10,088,041 | |
Series 2020-A Class A1A | ||||
07/22/2024 | 1.850% | 10,000,000 | 10,160,046 | |
Westlake Automobile Receivables Trust(a) | ||||
Series 2019-3A Class A2 | ||||
02/15/2023 | 2.150% | 1,278,658 | 1,280,341 | |
Series 2020-2A Class A2A | ||||
02/15/2024 | 0.930% | 7,882,704 | 7,901,289 | |
Subordinated Series 2018-3A Class C | ||||
10/16/2023 | 3.610% | 402,020 | 402,528 | |
Subordinated Series 2019-1A Class C | ||||
03/15/2024 | 3.450% | 18,549,294 | 18,664,439 | |
Subordinated Series 2019-2A Class C | ||||
07/15/2024 | 2.840% | 12,400,000 | 12,551,607 | |
Subordinated Series 2019-3A Class B | ||||
10/15/2024 | 2.410% | 10,000,000 | 10,048,036 | |
World Omni Auto Receivables Trust | ||||
Series 2018-B Class A4 | ||||
06/17/2024 | 3.030% | 1,750,000 | 1,786,795 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018-D Class A3 | ||||
04/15/2024 | 3.330% | 1,222,780 | 1,239,371 | |
Series 2020-A Class A3 | ||||
01/17/2023 | 1.700% | 8,125,000 | 8,241,286 | |
Series 2021-A Class A2 | ||||
02/15/2024 | 0.170% | 5,774,388 | 5,774,480 | |
Subordinated Series 2018-C Class A3 | ||||
11/15/2023 | 3.130% | 2,405,643 | 2,429,465 | |
World Omni Automobile Lease Securitization Trust | ||||
Series 2019-B Class A3 | ||||
11/15/2022 | 2.030% | 10,747,065 | 10,818,000 | |
World Omni Select Auto Trust | ||||
Series 2020-A Class A2 | ||||
06/17/2024 | 0.470% | 3,568,373 | 3,571,247 | |
Total Asset-Backed Securities — Non-Agency (Cost $1,356,273,746) | 1,354,859,064 | |||
Commercial Mortgage-Backed Securities - Non-Agency 0.4% | ||||
JPMDB Commercial Mortgage Securities Trust | ||||
Series 2016-C2 Class A2 | ||||
06/15/2049 | 2.662% | 641,555 | 652,899 | |
UBS Commercial Mortgage Trust | ||||
Series 2012-C1 Class AAB | ||||
05/10/2045 | 3.002% | 315,655 | 315,788 | |
Wells Fargo Commercial Mortgage Trust | ||||
Series 2012-LC5 Class ASB | ||||
10/15/2045 | 2.528% | 1,216,613 | 1,224,983 | |
Wells Fargo Commercial Mortgage Trust(a),(b) | ||||
Series 2017-SMP Class A | ||||
1-month USD LIBOR + 0.875% Floor 0.750% 12/15/2034 | 0.968% | 11,000,000 | 10,999,236 | |
WF-RBS Commercial Mortgage Trust | ||||
Series 2012-C6 Class A4 | ||||
04/15/2045 | 3.440% | 1,197,740 | 1,200,497 | |
Series 2012-C8 Class ASB | ||||
08/15/2045 | 2.559% | 648,975 | 650,823 | |
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost $15,009,701) | 15,044,226 | |||
12 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Commercial Paper 0.5% | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
Environmental 0.5% | ||||
Waste Management, Inc. | ||||
Series 204-2 | ||||
09/10/2021 | 0.220% | 20,000,000 | 19,994,960 | |
Total Commercial Paper (Cost $19,989,750) | 19,994,960 | |||
Corporate Bonds & Notes 50.3% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 1.6% | ||||
Boeing Co. (The) | ||||
02/04/2023 | 1.167% | 18,190,000 | 18,248,261 | |
L3Harris Technologies, Inc.(b) | ||||
3-month USD LIBOR + 0.750% 03/10/2023 | 0.878% | 5,219,000 | 5,248,693 | |
L3Harris Technologies, Inc. | ||||
06/15/2023 | 3.850% | 13,255,000 | 14,062,675 | |
Northrop Grumman Corp. | ||||
08/01/2023 | 3.250% | 6,128,000 | 6,470,619 | |
Raytheon Technologies Corp. | ||||
12/15/2022 | 2.500% | 18,470,000 | 18,923,641 | |
Total | 62,953,889 | |||
Automotive 0.9% | ||||
Toyota Motor Credit Corp.(b) | ||||
3-month USD LIBOR + 0.390% 01/11/2023 | 0.509% | 10,947,000 | 10,997,478 | |
Toyota Motor Credit Corp. | ||||
06/14/2024 | 0.500% | 23,000,000 | 22,939,300 | |
Total | 33,936,778 | |||
Banking 17.9% | ||||
American Express Co.(b) | ||||
3-month USD LIBOR + 0.750% 08/03/2023 | 0.926% | 25,088,000 | 25,382,123 | |
Australia & New Zealand Banking Group Ltd.(a),(b) | ||||
3-month USD LIBOR + 0.580% 11/09/2022 | 0.742% | 20,665,000 | 20,797,459 | |
Bank of America Corp.(b) | ||||
3-month USD LIBOR + 0.430% 05/28/2024 | 0.536% | 38,481,000 | 38,519,481 | |
Bank of Montreal(b) | ||||
SOFR + 0.680% 03/10/2023 | 0.730% | 24,792,000 | 24,993,830 | |
Bank of New York Mellon Corp. (The)(b) | ||||
3-month USD LIBOR + 1.050% 10/30/2023 | 1.179% | 25,992,000 | 26,303,938 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Bank of Nova Scotia (The)(b),(d) | ||||
SOFR + 0.380% 07/31/2024 | 0.430% | 28,150,000 | 28,115,710 | |
Canadian Imperial Bank of Commerce(b) | ||||
3-month USD LIBOR + 0.720% 06/16/2022 | 0.838% | 20,175,000 | 20,293,682 | |
3-month USD LIBOR + 0.660% 09/13/2023 | 0.779% | 3,240,000 | 3,278,577 | |
Citigroup, Inc.(b) | ||||
3-month USD LIBOR + 0.690% 10/27/2022 | 0.819% | 37,143,000 | 37,380,016 | |
Commonwealth Bank of Australia(a),(b) | ||||
3-month USD LIBOR + 0.700% 03/10/2022 | 0.828% | 7,883,000 | 7,914,831 | |
Cooperatieve Rabobank UA(b) | ||||
3-month USD LIBOR + 0.480% 01/10/2023 | 0.599% | 25,152,000 | 25,295,823 | |
Discover Bank | ||||
02/06/2023 | 3.350% | 20,000,000 | 20,827,909 | |
DNB Bank ASA(a),(b) | ||||
3-month USD LIBOR + 0.620% 12/02/2022 | 0.751% | 20,597,000 | 20,740,037 | |
Goldman Sachs Group, Inc. (The)(b) | ||||
3-month USD LIBOR + 0.750% 02/23/2023 | 0.900% | 36,449,000 | 36,748,554 | |
HSBC Holdings PLC(e) | ||||
03/13/2023 | 3.262% | 23,655,000 | 24,072,528 | |
ING Bank NV(a) | ||||
08/15/2021 | 2.050% | 6,000,000 | 6,004,654 | |
JPMorgan Chase & Co.(e) | ||||
04/01/2023 | 3.207% | 36,510,000 | 37,210,909 | |
Lloyds Bank PLC | ||||
08/14/2022 | 2.250% | 976,000 | 995,623 | |
Morgan Stanley(e) | ||||
04/05/2024 | 0.731% | 39,420,000 | 39,553,328 | |
National Australia Bank Ltd.(a),(b) | ||||
3-month USD LIBOR + 0.410% 12/13/2022 | 0.529% | 25,320,000 | 25,431,212 | |
PNC Bank NA(b) | ||||
3-month USD LIBOR + 0.500% 07/27/2022 | 0.629% | 24,717,000 | 24,831,022 | |
Royal Bank of Canada(b) | ||||
3-month USD LIBOR + 0.360% 01/17/2023 | 0.494% | 26,457,000 | 26,560,308 | |
Skandinaviska Enskilda Banken AB(a),(b) | ||||
3-month USD LIBOR + 0.645% 12/12/2022 | 0.764% | 17,997,000 | 18,120,665 | |
Svenska Handelsbanken AB(a) | ||||
06/30/2023 | 0.625% | 21,045,000 | 21,170,228 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 13 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Toronto-Dominion Bank (The)(b) | ||||
SOFR + 0.450% 09/28/2023 | 0.050% | 27,446,000 | 27,597,629 | |
Truist Financial Corp.(b) | ||||
3-month USD LIBOR + 0.650% 04/01/2022 | 0.795% | 16,580,000 | 16,637,447 | |
UBS AG(a) | ||||
06/01/2023 | 0.375% | 10,000,000 | 9,996,309 | |
02/09/2024 | 0.450% | 17,675,000 | 17,617,069 | |
US Bank NA(b) | ||||
3-month USD LIBOR + 0.180% 01/21/2022 | 0.314% | 14,000,000 | 14,008,182 | |
Wells Fargo & Co.(b) | ||||
3-month USD LIBOR + 1.230% 10/31/2023 | 1.359% | 37,640,000 | 38,130,857 | |
Westpac Banking Corp.(b) | ||||
3-month USD LIBOR + 0.390% 01/13/2023 | 0.519% | 26,046,000 | 26,166,936 | |
Total | 710,696,876 | |||
Cable and Satellite 1.0% | ||||
Charter Communications Operating LLC/Capital(b) | ||||
3-month USD LIBOR + 1.650% 02/01/2024 | 1.776% | 18,827,000 | 19,336,006 | |
Comcast Corp.(b) | ||||
3-month USD LIBOR + 0.630% 04/15/2024 | 0.756% | 2,982,000 | 3,015,447 | |
Sky PLC(a) | ||||
11/26/2022 | 3.125% | 18,202,000 | 18,867,416 | |
Total | 41,218,869 | |||
Chemicals 0.8% | ||||
DuPont de Nemours, Inc.(b) | ||||
3-month USD LIBOR + 1.110% 11/15/2023 | 1.266% | 17,085,000 | 17,381,915 | |
LYB International Finance III LLC(b) | ||||
3-month USD LIBOR + 1.000% 10/01/2023 | 1.145% | 16,267,000 | 16,291,850 | |
Total | 33,673,765 | |||
Construction Machinery 0.9% | ||||
Caterpillar Financial Services Corp. | ||||
03/01/2023 | 0.250% | 21,125,000 | 21,129,769 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
John Deere Capital Corp.(b) | ||||
3-month USD LIBOR + 0.260% 09/10/2021 | 0.388% | 6,621,000 | 6,622,439 | |
3-month USD LIBOR + 0.490% 06/13/2022 | 0.609% | 9,535,000 | 9,571,865 | |
3-month USD LIBOR + 0.550% 06/07/2023 | 0.681% | 285,000 | 287,401 | |
Total | 37,611,474 | |||
Diversified Manufacturing 1.6% | ||||
General Electric Co. | ||||
10/09/2022 | 2.700% | 22,370,000 | 22,976,288 | |
Honeywell International, Inc.(b) | ||||
3-month USD LIBOR + 0.230% 08/19/2022 | 0.380% | 19,247,000 | 19,244,563 | |
Siemens Financieringsmaatschappij NV(a) | ||||
03/11/2023 | 0.400% | 20,000,000 | 20,037,908 | |
Total | 62,258,759 | |||
Electric 4.5% | ||||
American Electric Power Co., Inc. | ||||
12/15/2022 | 2.950% | 6,430,000 | 6,611,222 | |
11/01/2023 | 0.750% | 10,000,000 | 10,006,570 | |
CenterPoint Energy, Inc. | ||||
09/01/2022 | 2.500% | 17,758,000 | 18,133,492 | |
Dominion Energy, Inc.(b) | ||||
3-month USD LIBOR + 0.530% 09/15/2023 | 0.649% | 10,000,000 | 10,004,672 | |
DTE Energy Co. | ||||
11/01/2022 | 2.250% | 15,860,000 | 16,222,069 | |
Duke Energy Progress LLC(b) | ||||
3-month USD LIBOR + 0.180% 02/18/2022 | 0.335% | 18,635,000 | 18,635,282 | |
Eversource Energy | ||||
03/15/2022 | 2.750% | 15,645,000 | 15,852,053 | |
Florida Power & Light Co.(b) | ||||
SOFR + 0.250% 05/10/2023 | 0.300% | 12,330,000 | 12,320,292 | |
Mississippi Power Co.(b) | ||||
SOFR + 0.300% 06/28/2024 | 0.350% | 12,286,000 | 12,294,521 | |
NextEra Energy Capital Holdings, Inc.(b) | ||||
SOFR + 0.540% 03/01/2023 | 0.590% | 7,405,000 | 7,437,378 | |
PacifiCorp | ||||
02/01/2022 | 2.950% | 6,508,000 | 6,551,015 | |
PPL Electric Utilities Corp.(b) | ||||
SOFR + 0.330% 06/24/2024 | 0.380% | 14,938,000 | 14,941,924 |
14 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Public Service Enterprise Group, Inc. | ||||
11/15/2022 | 2.650% | 15,583,000 | 16,023,683 | |
Southern California Edison Co.(b) | ||||
3-month USD LIBOR + 0.270% 12/03/2021 | 0.399% | 15,000,000 | 15,003,377 | |
Total | 180,037,550 | |||
Food and Beverage 1.4% | ||||
Campbell Soup Co. | ||||
08/02/2022 | 2.500% | 5,809,000 | 5,930,965 | |
03/15/2023 | 3.650% | 10,808,000 | 11,333,196 | |
ConAgra Foods, Inc. | ||||
09/15/2022 | 3.250% | 7,215,000 | 7,431,890 | |
01/25/2023 | 3.200% | 5,390,000 | 5,572,773 | |
Diageo Investment Corp. | ||||
05/11/2022 | 2.875% | 12,000,000 | 12,242,577 | |
PepsiCo, Inc.(b) | ||||
3-month USD LIBOR + 0.365% 05/02/2022 | 0.491% | 10,875,000 | 10,902,332 | |
Tyson Foods, Inc. | ||||
09/28/2023 | 3.900% | 2,000,000 | 2,142,038 | |
Total | 55,555,771 | |||
Health Care 1.2% | ||||
Becton Dickinson and Co.(b) | ||||
3-month USD LIBOR + 1.030% 06/06/2022 | 1.161% | 19,483,000 | 19,635,012 | |
Cigna Corp.(b) | ||||
3-month USD LIBOR + 0.890% 07/15/2023 | 1.016% | 19,447,000 | 19,685,407 | |
CVS Health Corp. | ||||
12/01/2022 | 2.750% | 7,300,000 | 7,493,806 | |
Total | 46,814,225 | |||
Healthcare Insurance 0.6% | ||||
Anthem, Inc. | ||||
12/01/2022 | 2.950% | 19,712,000 | 20,362,180 | |
UnitedHealth Group, Inc. | ||||
07/15/2022 | 3.350% | 5,332,000 | 5,491,091 | |
Total | 25,853,271 | |||
Independent Energy 0.2% | ||||
Pioneer Natural Resources Co. | ||||
05/15/2023 | 0.550% | 8,848,000 | 8,857,897 | |
Integrated Energy 1.6% | ||||
BP Capital Markets PLC | ||||
11/06/2022 | 2.500% | 11,893,000 | 12,234,676 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cenovus Energy, Inc. | ||||
08/15/2022 | 3.000% | 9,872,000 | 10,063,326 | |
09/15/2023 | 3.800% | 6,425,000 | 6,769,335 | |
Chevron USA, Inc.(b) | ||||
3-month USD LIBOR + 0.110% 08/12/2022 | 0.278% | 19,320,000 | 19,335,217 | |
Exxon Mobil Corp.(b) | ||||
3-month USD LIBOR + 0.330% 08/16/2022 | 0.486% | 2,300,000 | 2,307,159 | |
Shell International Finance BV(b) | ||||
3-month USD LIBOR + 0.400% 11/13/2023 | 0.560% | 13,514,000 | 13,595,096 | |
Total | 64,304,809 | |||
Life Insurance 1.7% | ||||
Five Corners Funding Trust(a) | ||||
11/15/2023 | 4.419% | 3,190,000 | 3,468,964 | |
Metropolitan Life Global Funding I(a) | ||||
06/17/2022 | 2.400% | 20,000,000 | 20,385,215 | |
New York Life Global Funding(a),(b) | ||||
SOFR + 0.220% 02/02/2023 | 0.270% | 20,000,000 | 20,036,255 | |
Pricoa Global Funding I(a) | ||||
09/21/2022 | 2.450% | 1,815,000 | 1,859,774 | |
Principal Life Global Funding II(a) | ||||
01/08/2024 | 0.500% | 20,000,000 | 20,013,538 | |
Total | 65,763,746 | |||
Media and Entertainment 1.1% | ||||
Discovery Communications LLC | ||||
03/20/2023 | 2.950% | 18,225,000 | 18,913,347 | |
Walt Disney Co. (The)(b) | ||||
3-month USD LIBOR + 0.390% 03/04/2022 | 0.524% | 22,192,000 | 22,239,105 | |
3-month USD LIBOR + 0.390% 09/01/2022 | 0.525% | 969,000 | 972,373 | |
Total | 42,124,825 | |||
Midstream 2.3% | ||||
Enbridge, Inc.(b) | ||||
SOFR + 0.400% 02/17/2023 | 0.450% | 19,588,000 | 19,627,370 | |
Energy Transfer Partners LP | ||||
02/01/2023 | 3.600% | 6,566,000 | 6,797,051 | |
Enterprise Products Operating LLC | ||||
02/01/2022 | 3.500% | 14,070,000 | 14,293,353 | |
Kinder Morgan, Inc. | ||||
01/15/2023 | 3.150% | 13,550,000 | 14,059,364 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 15 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/01/2022 | 3.650% | 9,366,000 | 9,531,877 | |
01/31/2023 | 2.850% | 8,313,000 | 8,523,939 | |
Southern Natural Gas Co. LLC(a) | ||||
04/28/2023 | 0.625% | 10,971,000 | 10,973,233 | |
Williams Companies, Inc. (The) | ||||
08/15/2022 | 3.350% | 5,884,000 | 6,020,925 | |
Total | 89,827,112 | |||
Natural Gas 0.3% | ||||
Southern California Gas Co.(b) | ||||
3-month USD LIBOR + 0.350% 09/14/2023 | 0.469% | 12,622,000 | 12,609,424 | |
Pharmaceuticals 2.7% | ||||
AbbVie, Inc.(b) | ||||
3-month USD LIBOR + 0.650% 11/21/2022 | 0.799% | 22,735,000 | 22,882,862 | |
Amgen, Inc. | ||||
08/19/2023 | 2.250% | 8,541,000 | 8,838,622 | |
AstraZeneca PLC | ||||
05/26/2023 | 0.300% | 38,919,000 | 38,909,001 | |
Bristol-Myers Squibb Co. | ||||
11/13/2023 | 0.537% | 15,000,000 | 15,010,228 | |
Gilead Sciences, Inc.(b) | ||||
3-month USD LIBOR + 0.520% 09/29/2023 | 0.666% | 16,000,000 | 16,008,330 | |
Pfizer, Inc. | ||||
12/15/2021 | 2.200% | 6,200,000 | 6,245,601 | |
Roche Holdings, Inc.(a) | ||||
01/28/2022 | 1.750% | 1,000,000 | 1,006,346 | |
Total | 108,900,990 | |||
Property & Casualty 1.0% | ||||
American International Group, Inc. | ||||
02/15/2024 | 4.125% | 17,885,000 | 19,440,260 | |
Chubb INA Holdings, Inc. | ||||
11/03/2022 | 2.875% | 10,188,000 | 10,482,084 | |
Loews Corp. | ||||
05/15/2023 | 2.625% | 10,775,000 | 11,148,133 | |
Total | 41,070,477 | |||
Railroads 0.3% | ||||
Canadian National Railway Co. | ||||
11/15/2022 | 2.250% | 6,175,000 | 6,294,143 | |
Union Pacific Corp. | ||||
06/08/2023 | 3.500% | 4,244,000 | 4,481,011 | |
Total | 10,775,154 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Refining 0.4% | ||||
Phillips 66(b) | ||||
3-month USD LIBOR + 0.620% 02/15/2024 | 0.776% | 14,500,000 | 14,507,519 | |
Technology 3.4% | ||||
Apple, Inc.(b) | ||||
3-month USD LIBOR + 0.500% 02/09/2022 | 0.662% | 11,459,000 | 11,487,821 | |
Broadcom Corp./Cayman Finance Ltd. | ||||
01/15/2024 | 3.625% | 17,695,000 | 18,867,153 | |
Fidelity National Information Services, Inc. | ||||
03/01/2023 | 0.375% | 12,000,000 | 12,001,110 | |
International Business Machines Corp. | ||||
05/13/2022 | 2.850% | 3,719,000 | 3,795,876 | |
Microchip Technology, Inc. | ||||
06/01/2023 | 4.333% | 11,338,000 | 12,053,729 | |
Microchip Technology, Inc.(a) | ||||
02/15/2024 | 0.972% | 5,500,000 | 5,509,815 | |
NXP BV/Funding LLC(a) | ||||
09/01/2022 | 3.875% | 15,753,000 | 16,303,903 | |
Oracle Corp. | ||||
10/15/2022 | 2.500% | 20,159,000 | 20,674,936 | |
QUALCOMM, Inc.(b) | ||||
3-month USD LIBOR + 0.730% 01/30/2023 | 0.859% | 18,450,000 | 18,627,791 | |
RELX Capital, Inc. | ||||
03/16/2023 | 3.500% | 16,519,000 | 17,300,065 | |
Total | 136,622,199 | |||
Transportation Services 0.6% | ||||
ERAC U.S.A. Finance LLC(a) | ||||
11/01/2023 | 2.700% | 18,035,000 | 18,832,901 | |
United Parcel Service, Inc.(b) | ||||
3-month USD LIBOR + 0.380% 05/16/2022 | 0.536% | 5,000,000 | 5,012,142 | |
Total | 23,845,043 | |||
Wireless 0.9% | ||||
American Tower Corp. | ||||
01/31/2023 | 3.500% | 17,720,000 | 18,543,798 | |
Rogers Communications, Inc.(b) | ||||
3-month USD LIBOR + 0.600% 03/22/2022 | 0.735% | 18,181,000 | 18,230,056 | |
Total | 36,773,854 |
16 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Wirelines 1.4% | ||||
AT&T, Inc. | ||||
06/30/2022 | 3.000% | 12,829,000 | 13,086,771 | |
AT&T, Inc.(b) | ||||
SOFR + 0.640% 03/25/2024 | 0.690% | 10,999,000 | 11,020,340 | |
Verizon Communications, Inc.(b) | ||||
3-month USD LIBOR + 1.000% 03/16/2022 | 1.118% | 17,854,000 | 17,960,119 | |
SOFR + 0.500% 03/22/2024 | 0.050% | 12,000,000 | 12,070,744 | |
Total | 54,137,974 | |||
Total Corporate Bonds & Notes (Cost $1,997,631,210) | 2,000,732,250 | |||
Foreign Government Obligations(f) 1.0% | ||||
Canada 1.0% | ||||
Province of Ontario | ||||
06/29/2022 | 2.450% | 21,000,000 | 21,432,440 | |
Province of Quebec | ||||
01/31/2022 | 2.375% | 18,601,000 | 18,805,530 | |
Total | 40,237,970 | |||
Total Foreign Government Obligations (Cost $40,160,273) | 40,237,970 | |||
Residential Mortgage-Backed Securities - Agency 0.0% | ||||
Federal Home Loan Mortgage Corp.(b) | ||||
1-year CMT + 2.255% Cap 11.159% 02/01/2036 | 2.380% | 46,015 | 48,787 | |
Federal National Mortgage Association(b) | ||||
12-month USD LIBOR + 2.130% Floor 2.130%, Cap 10.130% 03/01/2034 | 2.505% | 109,904 | 109,602 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $155,032) | 158,389 | |||
Residential Mortgage-Backed Securities - Non-Agency 7.9% | ||||
Bellemeade Re Ltd.(a),(b) | ||||
CMO Series 2019-1A Class M1A | ||||
1-month USD LIBOR + 1.300% Floor 1.300% 03/25/2029 | 1.389% | 369,023 | 369,071 | |
CMO Series 2019-3A Class M1A | ||||
1-month USD LIBOR + 1.100% Floor 1.100% 07/25/2029 | 1.189% | 768,181 | 769,668 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-3A Class M1A | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 10/25/2030 | 2.089% | 9,800,000 | 9,853,551 | |
CMO Series 2020-3A Class M1B | ||||
1-month USD LIBOR + 2.850% Floor 2.850% 10/25/2030 | 2.939% | 6,150,000 | 6,247,384 | |
CMO Series 2021-1A Class M1A | ||||
30-day Average SOFR + 1.750% Floor 1.750% 03/25/2031 | 1.760% | 16,000,000 | 16,090,888 | |
BVRT Financing Trust(a),(b) | ||||
CMO Series 2021-1F Class M1 | ||||
30-day Average SOFR + 1.550% Floor 1.550% 03/15/2038 | 1.588% | 5,338,003 | 5,338,284 | |
BVRT Financing Trust(a),(b),(c) | ||||
CMO Series 2021-2F Class M1 | ||||
30-day Average SOFR + 1.550% Floor 1.550% 01/10/2032 | 1.588% | 6,065,025 | 6,065,025 | |
CMO Series 2021-CRT2 Class M1 | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 11/10/2032 | 1.850% | 4,647,175 | 4,647,175 | |
Citigroup Mortgage Loan Trust, Inc.(a),(g) | ||||
CMO Series 2019-IMC1 Class A1 | ||||
07/25/2049 | 2.720% | 2,370,665 | 2,383,756 | |
CMO Series 2019-IMC1 Class A2 | ||||
07/25/2049 | 2.930% | 821,482 | 826,988 | |
CSMC Ltd.(a) | ||||
Subordinated CMO Series 2020-BPL2 Class A1 | ||||
03/25/2026 | 3.453% | 3,289,937 | 3,291,749 | |
Deephaven Residential Mortgage Trust(a) | ||||
CMO Series 2020-2 Class A1 | ||||
05/25/2065 | 1.692% | 3,934,517 | 3,954,327 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
CMO Series 2020-DNA6 Class M1 | ||||
30-day Average SOFR + 0.900% 12/25/2050 | 0.950% | 4,290,949 | 4,292,969 | |
Subordinated CMO Series 2020-DNA5 Class M1 | ||||
30-day Average SOFR + 1.300% 10/25/2050 | 1.318% | 738,962 | 739,163 | |
Freddie Mac Structured Agency Credit Risk REMIC Trust(a),(b) | ||||
CMO Series 2021-DNA1 Class M1 | ||||
30-day Average SOFR + 0.650% 01/25/2051 | 0.700% | 3,063,514 | 3,063,514 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 17 |
July 31, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Home Re Ltd.(a),(b) | ||||
CMO Series 2021-1 Class M1A | ||||
1-month USD LIBOR + 1.050% 07/25/2033 | 1.139% | 17,250,000 | 17,230,787 | |
Home RE Ltd.(a),(b) | ||||
CMO Series 2020-1 Class M1A | ||||
1-month USD LIBOR + 2.600% Floor 2.600% 10/25/2030 | 2.744% | 7,253,798 | 7,272,570 | |
Mello Warehouse Securitization Trust(a),(b) | ||||
CMO Series 2020-1 Class A | ||||
1-month USD LIBOR + 0.900% Floor 0.900% 10/25/2053 | 0.989% | 20,000,000 | 20,045,898 | |
MFA Trust(a),(g) | ||||
CMO Series 2020-NQM3 Class A3 | ||||
01/26/2065 | 1.632% | 3,305,350 | 3,315,885 | |
Mortgage Repurchase Agreement Financing Trust(a),(b) | ||||
CMO Series 2021-1 Class A1 | ||||
1-month USD LIBOR + 0.500% 03/10/2022 | 0.611% | 25,000,000 | 24,998,945 | |
MRA Issuance Trust(a),(b),(c),(h) | ||||
CMO Series 2021-11 Class A1X | ||||
1-month USD LIBOR + 1.150% Floor 1.150% 01/25/2022 | 1.243% | 15,000,000 | 15,000,000 | |
CMO Series 2021-NA1 Class A1X | ||||
1-month USD LIBOR + 1.500% Floor 1.500% 03/08/2022 | 1.700% | 18,450,000 | 18,450,000 | |
MRA Issuance Trust(a),(b) | ||||
CMO Series 2021-14 Class A1X | ||||
1-month USD LIBOR + 1.250% Floor 1.250% 02/15/2022 | 1.450% | 36,500,000 | 36,500,000 | |
CMO Series 2021-EBO4 Class A1X | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 02/16/2022 | 1.842% | 35,500,000 | 35,496,752 | |
NRZ Excess Spread-Collateralized Notes(a) | ||||
Series 2020-PLS1 Class A | ||||
12/25/2025 | 3.844% | 5,758,697 | 5,825,153 | |
Oaktown Re V Ltd.(a),(b) | ||||
Subordinated CMO Series 2020-2A Class M1A | ||||
1-month USD LIBOR + 2.400% Floor 2.400% 10/25/2030 | 2.489% | 1,809,073 | 1,814,595 | |
Pretium Mortgage Credit Partners I LLC(a),(g) | ||||
CMO Series 2020-NPL3 Class A1 | ||||
06/27/2060 | 3.105% | 9,336,616 | 9,429,937 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Radnor Re Ltd.(a),(b) | ||||
CMO Series 2019-2 Class M1A | ||||
1-month USD LIBOR + 1.200% Floor 1.200% 06/25/2029 | 1.289% | 565,873 | 565,869 | |
Station Place Securitization Trust(a),(b) | ||||
Subordinated CMO Series 2021-WL1 Class C | ||||
1-month USD LIBOR + 1.050% Floor 1.050% 01/26/2054 | 1.179% | 4,500,000 | 4,499,686 | |
Traingle Re Ltd.(a),(b) | ||||
CMO Series 2021-1 Class M1A | ||||
1-month USD LIBOR + 1.700% Floor 1.700% 08/25/2033 | 1.789% | 21,041,946 | 21,051,253 | |
VCAT LLC(a),(g) | ||||
CMO Series 2021-NPL1 Class A1 | ||||
12/26/2050 | 2.289% | 2,843,390 | 2,853,659 | |
Vericrest Opportunity Loan Transferee XCIII LLC(a),(g) | ||||
CMO Series 2021-NPL2 Class A1 | ||||
02/27/2051 | 1.893% | 13,429,546 | 13,418,487 | |
Verus Securitization Trust(a),(g) | ||||
CMO Series 2020-1 Class A1 | ||||
01/25/2060 | 2.417% | 1,739,023 | 1,759,630 | |
CMO Series 2020-NPL1 Class A1 | ||||
08/25/2050 | 3.598% | 5,191,789 | 5,199,624 | |
Total Residential Mortgage-Backed Securities - Non-Agency (Cost $312,250,008) | 312,662,242 | |||
Treasury Bills 1.5% | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
United States 1.5% | ||||
U.S. Treasury Bills | ||||
05/19/2022 | 0.060% | 60,000,000 | 59,971,172 | |
Total Treasury Bills (Cost $59,969,583) | 59,971,172 | |||
U.S. Government & Agency Obligations 2.4% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Federal Farm Credit Banks Funding Corp.(b) | ||||
1-month USD LIBOR + 0.160% 10/04/2021 | 0.263% | 16,355,000 | 16,359,358 | |
1-month USD LIBOR + 0.030% 11/02/2021 | 0.126% | 8,279,000 | 8,279,026 | |
1-month USD LIBOR + 0.260% 11/23/2021 | 0.347% | 2,250,000 | 2,251,836 | |
1-month USD LIBOR + 0.020% 11/26/2021 | 0.109% | 17,625,000 | 17,627,029 |
18 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
U.S. Government & Agency Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
1-month USD LIBOR + 0.100% 12/23/2021 | 0.187% | 3,000,000 | 3,001,281 | |
SOFR + 0.190% 07/14/2022 | 0.240% | 7,050,000 | 7,059,173 | |
1-month USD LIBOR + 0.080% 09/06/2022 | 0.183% | 22,130,000 | 22,157,700 | |
1-month USD LIBOR + 0.400% 12/08/2023 | 0.502% | 2,000,000 | 2,018,402 | |
Federal Farm Credit Banks Funding Corp. | ||||
09/15/2022 | 0.080% | 15,000,000 | 14,996,139 | |
03/13/2023 | 0.750% | 2,137,000 | 2,154,748 | |
Total U.S. Government & Agency Obligations (Cost $95,886,182) | 95,904,692 |
Money Market Funds 1.8% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(i),(j) | 70,006,007 | 69,999,006 |
Total Money Market Funds (Cost $69,997,783) | 69,999,006 | |
Total Investments in Securities (Cost: $3,967,323,268) | 3,969,563,971 | |
Other Assets & Liabilities, Net | 5,899,659 | |
Net Assets | 3,975,463,630 |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 2-Year Note | (1,050) | 09/2021 | USD | (231,689,063) | — | (9,417) |
(a) | 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 July 31, 2021, the total value of these securities amounted to $1,735,080,245, which represents 43.64% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of July 31, 2021. |
(c) | Valuation based on significant unobservable inputs. |
(d) | Represents a security purchased on a when-issued basis. |
(e) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of July 31, 2021. |
(f) | Principal and interest may not be guaranteed by a governmental entity. |
(g) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of July 31, 2021. |
(h) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At July 31, 2021, the total value of these securities amounted to $33,450,000, which represents 0.84% of total net assets. |
(i) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
(j) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
71,788,081 | 2,379,853,780 | (2,381,628,186) | (14,669) | 69,999,006 | 9,744 | 82,495 | 70,006,007 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 19 |
July 31, 2021
CMO | Collateralized Mortgage Obligation |
CMT | Constant Maturity Treasury |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Asset-Backed Securities — Non-Agency | — | 1,343,609,064 | 11,250,000 | 1,354,859,064 |
Commercial Mortgage-Backed Securities - Non-Agency | — | 15,044,226 | — | 15,044,226 |
Commercial Paper | — | 19,994,960 | — | 19,994,960 |
Corporate Bonds & Notes | — | 2,000,732,250 | — | 2,000,732,250 |
Foreign Government Obligations | — | 40,237,970 | — | 40,237,970 |
Residential Mortgage-Backed Securities - Agency | — | 158,389 | — | 158,389 |
Residential Mortgage-Backed Securities - Non-Agency | — | 268,500,042 | 44,162,200 | 312,662,242 |
Treasury Bills | 59,971,172 | — | — | 59,971,172 |
U.S. Government & Agency Obligations | — | 95,904,692 | — | 95,904,692 |
Money Market Funds | 69,999,006 | — | — | 69,999,006 |
Total Investments in Securities | 129,970,178 | 3,784,181,593 | 55,412,200 | 3,969,563,971 |
20 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Derivatives | ||||
Liability | ||||
Futures Contracts | (9,417) | — | — | (9,417) |
Total | 129,960,761 | 3,784,181,593 | 55,412,200 | 3,969,554,554 |
Balance as of 07/31/2020 ($) | Increase (decrease) in accrued discounts/ premiums ($) | Realized gain (loss) ($) | Change in unrealized appreciation (depreciation)(a) ($) | Purchases ($) | Sales ($) | Transfers into Level 3 ($) | Transfers out of Level 3 ($) | Balance as of 07/31/2021 ($) | |
Asset-Backed Securities — Non-Agency | — | — | — | 347 | 11,249,653 | — | — | — | 11,250,000 |
Residential Mortgage-Backed Securities — Non-Agency | — | — | — | — | 46,750,000 | (2,587,800) | — | — | 44,162,200 |
Total | — | — | — | 347 | 57,999,653 | (2,587,800) | — | — | 55,412,200 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 21 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $3,897,325,485) | $3,899,564,965 |
Affiliated issuers (cost $69,997,783) | 69,999,006 |
Cash | 136,122 |
Margin deposits on: | |
Futures contracts | 337,000 |
Receivable for: | |
Investments sold | 25,702,899 |
Capital shares sold | 11,960,930 |
Dividends | 15,094 |
Interest | 8,535,590 |
Foreign tax reclaims | 15,376 |
Prepaid expenses | 37,714 |
Trustees’ deferred compensation plan | 187,522 |
Total assets | 4,016,492,218 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 28,150,000 |
Capital shares purchased | 11,116,389 |
Distributions to shareholders | 1,394,828 |
Variation margin for futures contracts | 57,422 |
Management services fees | 22,784 |
Distribution and/or service fees | 4,022 |
Transfer agent fees | 41,200 |
Compensation of board members | 13,845 |
Compensation of chief compliance officer | 76 |
Other expenses | 40,500 |
Trustees’ deferred compensation plan | 187,522 |
Total liabilities | 41,028,588 |
Net assets applicable to outstanding capital stock | $3,975,463,630 |
Represented by | |
Paid in capital | 3,981,416,201 |
Total distributable earnings (loss) | (5,952,571) |
Total - representing net assets applicable to outstanding capital stock | $3,975,463,630 |
Class A | |
Net assets | $978,846,371 |
Shares outstanding | 108,263,735 |
Net asset value per share | $9.04 |
Advisor Class | |
Net assets | $19,968,699 |
Shares outstanding | 2,206,876 |
Net asset value per share | $9.05 |
Institutional Class | |
Net assets | $406,157,279 |
Shares outstanding | 44,881,020 |
Net asset value per share | $9.05 |
Institutional 3 Class | |
Net assets | $2,570,491,281 |
Shares outstanding | 283,974,944 |
Net asset value per share | $9.05 |
22 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — affiliated issuers | $82,495 |
Interest | 31,779,268 |
Interfund lending | 284 |
Total income | 31,862,047 |
Expenses: | |
Management services fees | 6,755,596 |
Distribution and/or service fees | |
Class A | 1,181,491 |
Transfer agent fees | |
Class A | 330,803 |
Advisor Class | 5,712 |
Institutional Class | 133,623 |
Institutional 3 Class | 128,361 |
Compensation of board members | 56,590 |
Custodian fees | 27,667 |
Printing and postage fees | 37,553 |
Registration fees | 548,854 |
Audit fees | 29,500 |
Legal fees | 56,968 |
Compensation of chief compliance officer | 924 |
Other | 72,933 |
Total expenses | 9,366,575 |
Net investment income | 22,495,472 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 5,986,538 |
Investments — affiliated issuers | 9,744 |
Futures contracts | (81,435) |
Net realized gain | 5,914,847 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (7,125,775) |
Investments — affiliated issuers | (14,669) |
Futures contracts | 159,993 |
Net change in unrealized appreciation (depreciation) | (6,980,451) |
Net realized and unrealized loss | (1,065,604) |
Net increase in net assets resulting from operations | $21,429,868 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 23 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $22,495,472 | $25,639,273 |
Net realized gain | 5,914,847 | 626,917 |
Net change in unrealized appreciation (depreciation) | (6,980,451) | 6,686,088 |
Net increase in net assets resulting from operations | 21,429,868 | 32,952,278 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (4,935,165) | (5,261,459) |
Advisor Class | (95,070) | (34,009) |
Institutional Class | (2,527,296) | (2,580,583) |
Institutional 3 Class | (17,427,490) | (18,104,054) |
Total distributions to shareholders | (24,985,021) | (25,980,105) |
Increase in net assets from capital stock activity | 1,740,629,181 | 1,271,306,468 |
Total increase in net assets | 1,737,074,028 | 1,278,278,641 |
Net assets at beginning of year | 2,238,389,602 | 960,110,961 |
Net assets at end of year | $3,975,463,630 | $2,238,389,602 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 121,956,238 | 1,103,440,357 | 69,644,419 | 628,213,829 |
Distributions reinvested | 543,784 | 4,919,688 | 584,021 | 5,261,144 |
Redemptions | (63,535,032) | (574,792,443) | (34,065,302) | (306,220,954) |
Net increase | 58,964,990 | 533,567,602 | 36,163,138 | 327,254,019 |
Advisor Class | ||||
Subscriptions | 5,647,873 | 51,136,063 | 1,989,107 | 17,897,308 |
Distributions reinvested | 10,488 | 94,970 | 3,773 | 33,760 |
Redemptions | (3,730,005) | (33,765,846) | (1,715,695) | (15,260,764) |
Net increase | 1,928,356 | 17,465,187 | 277,185 | 2,670,304 |
Institutional Class | ||||
Subscriptions | 53,485,336 | 484,322,411 | 30,933,196 | 278,998,091 |
Distributions reinvested | 277,639 | 2,514,378 | 286,121 | 2,580,337 |
Redemptions | (33,349,666) | (301,983,894) | (13,506,162) | (121,761,960) |
Net increase | 20,413,309 | 184,852,895 | 17,713,155 | 159,816,468 |
Institutional 3 Class | ||||
Subscriptions | 279,779,317 | 2,534,105,345 | 128,941,311 | 1,162,671,473 |
Distributions reinvested | 337,244 | 3,054,320 | 727,007 | 6,561,077 |
Redemptions | (169,206,209) | (1,532,416,168) | (42,944,401) | (387,666,873) |
Net increase | 110,910,352 | 1,004,743,497 | 86,723,917 | 781,565,677 |
Total net increase | 192,217,007 | 1,740,629,181 | 140,877,395 | 1,271,306,468 |
24 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Year Ended 7/31/2021 | $9.05 | 0.05 | 0.00(c) | 0.05 | (0.06) | (0.06) |
Year Ended 7/31/2020 | $9.03 | 0.16 | 0.03 | 0.19 | (0.17) | (0.17) |
Year Ended 7/31/2019(d) | $9.01 | 0.09 | 0.02 | 0.11 | (0.09) | (0.09) |
Advisor Class | ||||||
Year Ended 7/31/2021 | $9.06 | 0.06 | 0.00(c) | 0.06 | (0.07) | (0.07) |
Year Ended 7/31/2020 | $9.04 | 0.16 | 0.05 | 0.21 | (0.19) | (0.19) |
Year Ended 7/31/2019(f) | $8.99 | 0.14 | 0.05 | 0.19 | (0.14) | (0.14) |
Institutional Class | ||||||
Year Ended 7/31/2021 | $9.06 | 0.06 | 0.00(c) | 0.06 | (0.07) | (0.07) |
Year Ended 7/31/2020 | $9.04 | 0.17 | 0.04 | 0.21 | (0.19) | (0.19) |
Year Ended 7/31/2019(g) | $8.99 | 0.15 | 0.04 | 0.19 | (0.14) | (0.14) |
Institutional 3 Class | ||||||
Year Ended 7/31/2021 | $9.06 | 0.07 | 0.00(c) | 0.07 | (0.08) | (0.08) |
Year Ended 7/31/2020 | $9.04 | 0.18 | 0.03 | 0.21 | (0.19) | (0.19) |
Year Ended 7/31/2019 | $9.00 | 0.22 | 0.04 | 0.26 | (0.22) | (0.22) |
Year Ended 7/31/2018 | $9.02 | 0.14 | (0.01) | 0.13 | (0.15) | (0.15) |
Year Ended 7/31/2017 | $9.01 | 0.10 | 0.01 | 0.11 | (0.10) | (0.10) |
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) | Rounds to zero. |
(d) | Class A shares commenced operations on February 20, 2019. Per share data and total return reflect activity from that date. |
(e) | Annualized. |
(f) | Advisor Class shares commenced operations on December 3, 2018. Per share data and total return reflect activity from that date. |
(g) | Institutional Class shares commenced operations on December 3, 2018. Per share data and total return reflect activity from that date. |
26 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 7/31/2021 | $9.04 | 0.56% | 0.43% | 0.43% | 0.55% | 87% | $978,846 |
Year Ended 7/31/2020 | $9.05 | 2.17% | 0.43% | 0.43% | 1.79% | 100% | $446,211 |
Year Ended 7/31/2019(d) | $9.03 | 1.27% | 0.42%(e) | 0.42%(e) | 2.43%(e) | 95% | $118,625 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $9.05 | 0.71% | 0.28% | 0.28% | 0.63% | 87% | $19,969 |
Year Ended 7/31/2020 | $9.06 | 2.32% | 0.27% | 0.27% | 1.81% | 100% | $2,522 |
Year Ended 7/31/2019(f) | $9.04 | 2.16% | 0.27%(e) | 0.27%(e) | 2.52%(e) | 95% | $12 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $9.05 | 0.71% | 0.28% | 0.28% | 0.71% | 87% | $406,157 |
Year Ended 7/31/2020 | $9.06 | 2.32% | 0.28% | 0.28% | 1.94% | 100% | $221,636 |
Year Ended 7/31/2019(g) | $9.04 | 2.18% | 0.30%(e) | 0.30%(e) | 2.63%(e) | 95% | $61,044 |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $9.05 | 0.75% | 0.24% | 0.24% | 0.75% | 87% | $2,570,491 |
Year Ended 7/31/2020 | $9.06 | 2.35% | 0.25% | 0.25% | 2.00% | 100% | $1,568,020 |
Year Ended 7/31/2019 | $9.04 | 2.91% | 0.25% | 0.25% | 2.40% | 95% | $780,430 |
Year Ended 7/31/2018 | $9.00 | 1.40% | 0.26% | 0.25% | 1.56% | 66% | $1,128,076 |
Year Ended 7/31/2017 | $9.02 | 1.19% | 0.26% | 0.25% | 1.08% | 111% | $1,735,029 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 27 |
July 31, 2021
28 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 29 |
July 31, 2021
30 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 9,417* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (81,435) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 159,993 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 245,637,207 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Effective rate (%) | |
Class A | 0.04 |
Advisor Class | 0.04 |
Institutional Class | 0.04 |
Institutional 3 Class | 0.01 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 33 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | — | 0.50 - 1.00(a) | 2,080 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through November 30, 2021 | |
Class A | 0.50% |
Advisor Class | 0.35 |
Institutional Class | 0.35 |
Institutional 3 Class | 0.25 |
34 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
1,658,759 | (1,658,759) | — |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
24,985,021 | — | 24,985,021 | 25,980,105 | — | 25,980,105 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
1,285,223 | — | (6,627,039) | 984,143 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
3,968,570,411 | 5,002,108 | (4,017,965) | 984,143 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | (6,627,039) | (6,627,039) | 5,237,503 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 35 |
July 31, 2021
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 2,783,333 | 0.63 | 6 |
36 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 37 |
July 31, 2021
38 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
July 31, 2021
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 39 |
40 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Section 163(j) Interest Dividends | |
98.50% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 41 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
42 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 43 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
44 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 45 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Petersen, who is Senior Vice President and Assistant Secretary, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
46 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | 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 Ultra Short Term Bond Fund | Annual Report 2021 | 47 |
• | 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). |
48 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Ultra Short Term Bond Fund | Annual Report 2021 | 49 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
50 | Columbia Ultra Short Term Bond Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
6 | |
8 | |
9 | |
20 | |
21 | |
22 | |
24 | |
28 | |
39 | |
40 | |
40 | |
46 | |
47 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | Life | ||
Class A | Excluding sales charges | 03/26/15 | 3.03 | 3.17 | 3.46 |
Including sales charges | -0.04 | 2.55 | 2.97 | ||
Advisor Class | 03/26/15 | 3.29 | 3.43 | 3.72 | |
Class C | Excluding sales charges | 03/26/15 | 2.36 | 2.40 | 2.70 |
Including sales charges | 1.36 | 2.40 | 2.70 | ||
Institutional Class | 03/26/15 | 3.29 | 3.43 | 3.72 | |
Institutional 2 Class | 03/26/15 | 3.31 | 3.46 | 3.73 | |
Institutional 3 Class* | 03/01/17 | 3.46 | 3.45 | 3.68 | |
Bloomberg Barclays Municipal Bond Index | 3.29 | 3.41 | 3.74 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Since the Fund launched more than one share class at its inception, Class A shares were used. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Corporate Bonds & Notes | 9.9 |
Floating Rate Notes | 0.6 |
Money Market Funds | 2.4 |
Municipal Bonds | 87.1 |
Total | 100.0 |
Quality breakdown (%) (at July 31, 2021) | |
AAA rating | 7.2 |
AA rating | 39.6 |
A rating | 27.5 |
BBB rating | 19.1 |
BB rating | 3.0 |
B rating | 0.2 |
Not rated | 3.4 |
Total | 100.0 |
4 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Top Ten States/Territories (%) (at July 31, 2021) | |
Texas | 7.2 |
New York | 6.7 |
California | 6.4 |
Pennsylvania | 5.5 |
Illinois | 4.9 |
Florida | 4.4 |
Louisiana | 4.0 |
Washington | 4.0 |
Colorado | 3.4 |
Indiana | 3.0 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 5 |
• | Having an overweight to the hospital sector, which outperformed the benchmark during the period, and an underweight to the weaker performing state general obligation sector contributed positively to the Fund’s relative results. |
• | Issue selection in several sectors, including the hospital, local general obligation, education, water and sewer and resource recovery sectors, also boosted relative results. |
• | From a credit quality perspective, the Fund’s overweights to A-rated and BBB-rated bonds, its underweight to AAA-rated bonds and its exposure to below-investment-grade municipal bonds were additive, as lower quality segments of the municipal bond market outperformed higher quality segments during the period. |
• | Overall, yield curve positioning helped. The Fund was overweight in bonds with maturities of 10 to 20 years and underweight in bonds with maturities of one to 10 years, and longer term municipal bonds outpaced shorter term municipal issues during the period. This offset the detracting effect of being underweight issues with maturities of 20 years and longer. |
• | Having an overweight to the housing sector detracted from the Fund’s relative results. The Fund tends to have notable exposure to the housing sector due to the high impact affordable housing can offer many communities, but the sector’s more defensive structure led to relatively weak returns during the period. |
• | Having an overweight to the local general obligation sector also detracted from the Fund’s relative results. The Fund’s local general obligation bond exposure tends to be with issuers of high impact proceed bonds for K-12th grade schools in needy communities. However, local general obligation holdings in the Fund are generally of higher quality, which did not perform as well as lower quality segments of the municipal bond market during the period. |
6 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
• | The Fund’s underweights in the leasing and transportation sectors, which each outperformed the benchmark during the period, detracted from Fund results. |
• | To a lesser degree, having no exposure to the tobacco, prepaid gas and industrial development revenue/pollution control revenue (IDR/PCR) sectors and issue selection in the housing sector dampened results as well. |
• | An exposure to corporate bonds, which are not a component of the benchmark, further detracted from the Fund’s relative results. Short-term corporate bonds underperformed the benchmark during the period, and the Fund’s corporate bond position was focused on issues maturing in two to 10 years. |
• | From a credit quality perspective, security selection among BBB-rated bonds detracted, as many of the strongly performing issuers within the BBB-rated category of the benchmark during the period were in sectors with low or no metrics on the social impact scale. Security selection among A-rated, AA-rated and AAA-rated municipal bonds also detracted. |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 7 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,014.30 | 1,021.44 | 3.52 | 3.53 | 0.70 |
Advisor Class | 1,000.00 | 1,000.00 | 1,015.50 | 1,022.69 | 2.26 | 2.27 | 0.45 |
Class C | 1,000.00 | 1,000.00 | 1,010.50 | 1,017.70 | 7.27 | 7.29 | 1.45 |
Institutional Class | 1,000.00 | 1,000.00 | 1,015.50 | 1,022.69 | 2.26 | 2.27 | 0.45 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,015.60 | 1,022.84 | 2.11 | 2.12 | 0.42 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,015.90 | 1,023.09 | 1.86 | 1.87 | 0.37 |
8 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes 9.9% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United States 9.9% | ||||
AbbVie, Inc. | ||||
05/14/2025 | 3.600% | 500,000 | 546,258 | |
American Tower Corp. | ||||
08/15/2029 | 3.800% | 400,000 | 450,870 | |
Apple, Inc. | ||||
Green Bond | ||||
02/23/2023 | 2.850% | 250,000 | 259,070 | |
AT&T, Inc. | ||||
06/30/2022 | 3.000% | 250,000 | 255,023 | |
02/01/2028 | 1.650% | 250,000 | 250,532 | |
Broadcom Corp./Cayman Finance Ltd. | ||||
01/15/2027 | 3.875% | 237,000 | 263,090 | |
Broadcom, Inc.(a) | ||||
04/15/2034 | 3.469% | 263,000 | 281,543 | |
Capital One Financial Corp. | ||||
01/30/2023 | 3.200% | 500,000 | 520,415 | |
Cardinal Health, Inc. | ||||
06/15/2022 | 2.616% | 274,000 | 278,910 | |
Carrier Global Corp. | ||||
02/15/2027 | 2.493% | 300,000 | 317,002 | |
Cigna Corp. | ||||
10/15/2027 | 3.050% | 250,000 | 272,713 | |
10/15/2028 | 4.375% | 250,000 | 294,092 | |
ConAgra Foods, Inc. | ||||
01/25/2023 | 3.200% | 232,000 | 239,867 | |
Crown Castle International Corp. | ||||
02/15/2028 | 3.800% | 300,000 | 337,435 | |
CVS Health Corp. | ||||
03/09/2023 | 3.700% | 35,000 | 36,761 | |
Five Corners Funding Trust(a) | ||||
11/15/2023 | 4.419% | 500,000 | 543,725 | |
Kellogg Co. | ||||
12/01/2023 | 2.650% | 300,000 | 314,633 | |
Local Initiatives Support Corp. | ||||
03/01/2037 | 4.649% | 400,000 | 480,562 | |
NextEra Energy Capital Holdings, Inc. | ||||
06/01/2030 | 2.250% | 500,000 | 513,519 | |
St. Joseph’s Hospital & Medical Center | ||||
07/01/2027 | 4.584% | 300,000 | 339,458 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Verizon Communications, Inc. | ||||
09/21/2028 | 4.329% | 250,000 | 293,445 | |
Total | 7,088,923 | |||
Total Corporate Bonds & Notes (Cost $6,760,100) | 7,088,923 | |||
Floating Rate Notes 0.6% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Indiana 0.2% | ||||
Indiana Finance Authority(b),(c) | ||||
Revenue Bonds | ||||
Parkview Health System | ||||
Series 2018D (Wells Fargo Bank) | ||||
11/01/2039 | 0.030% | 150,000 | 150,000 | |
New York 0.4% | ||||
New York City Water & Sewer System(b),(c) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013 (JPMorgan Chase Bank) | ||||
06/15/2050 | 0.030% | 300,000 | 300,000 | |
Total Floating Rate Notes (Cost $450,000) | 450,000 | |||
Municipal Bonds 87.1% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 2.0% | ||||
Alabama Public School and College Authority | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2020A | ||||
11/01/2036 | 4.000% | 500,000 | 619,927 | |
Alabama Special Care Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Children’s Hospital of Alabama | ||||
Series 2015 | ||||
06/01/2027 | 5.000% | 250,000 | 290,403 | |
Butler County Board of Education | ||||
Refunding Revenue Bonds | ||||
Series 2015 (AGM) | ||||
07/01/2026 | 5.000% | 250,000 | 287,104 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 9 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Tuscaloosa City Board of Education | ||||
Revenue Bonds | ||||
Series 2016 | ||||
08/01/2030 | 5.000% | 200,000 | 241,362 | |
Total | 1,438,796 | |||
Arizona 1.3% | ||||
Glendale Union High School District No. 205 | ||||
Unlimited General Obligation Bonds | ||||
Series 2021A (AGM) | ||||
07/01/2034 | 4.000% | 200,000 | 250,389 | |
La Paz County Industrial Development Authority | ||||
Revenue Bonds | ||||
Charter School Solutions - Harmony Public Schools Project | ||||
Series 2016 | ||||
02/15/2036 | 5.000% | 100,000 | 113,987 | |
02/15/2046 | 5.000% | 210,000 | 236,699 | |
Pinal County Union High School District No. 82 Casa Grande | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 (AGM) | ||||
07/01/2026 | 5.000% | 250,000 | 294,788 | |
Total | 895,863 | |||
California 6.2% | ||||
California Health Facilities Financing Authority | ||||
Taxable Senior Revenue Bonds | ||||
No Place Like Home Program | ||||
Series 2019 | ||||
06/01/2033 | 2.984% | 600,000 | 650,816 | |
California Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2021-1A | ||||
11/20/2035 | 3.500% | 298,582 | 355,681 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2017A | ||||
02/01/2037 | 5.000% | 300,000 | 363,951 | |
Harbor Regional Center Project | ||||
Series 2015 | ||||
11/01/2024 | 5.000% | 250,000 | 288,056 | |
California School Finance Authority(a) | ||||
Prerefunded 08/01/25 Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2036 | 5.000% | 50,000 | 59,302 | |
Refunding Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2036 | 5.000% | 450,000 | 518,496 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Green Dot Public School Project | ||||
Series 2015A | ||||
08/01/2025 | 4.000% | 250,000 | 277,811 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
Adventist Health System West | ||||
Series 2015 | ||||
03/01/2025 | 5.000% | 250,000 | 292,007 | |
Lammersville Joint Unified School District | ||||
Refunding Special Tax Bonds | ||||
Community Facilities District #2002 | ||||
Series 2017 | ||||
09/01/2033 | 5.000% | 400,000 | 478,743 | |
Placer County Public Financing Authority | ||||
Refunding Taxable Revenue Bonds | ||||
mPOWER Program | ||||
Series 2018 (BAM) | ||||
10/01/2038 | 4.875% | 195,000 | 223,588 | |
San Francisco City & County Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Mission Bay Housing Project | ||||
Subordinated Series 2017 (AGM) | ||||
08/01/2025 | 3.250% | 300,000 | 322,310 | |
Southern California Public Power Authority | ||||
Refunding Revenue Bonds | ||||
Milford Wind Corridor Phase II Project Green Bonds | ||||
Series 2021 | ||||
07/01/2027 | 5.000% | 100,000 | 126,397 | |
State of California | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020 | ||||
11/01/2037 | 4.000% | 400,000 | 495,640 | |
Total | 4,452,798 | |||
Colorado 3.3% | ||||
Colorado Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Parkview Medical Center | ||||
Series 2015B | ||||
09/01/2026 | 5.000% | 250,000 | 292,854 | |
Denver City & County School District No. 1 | ||||
Unlimited General Obligation Bonds | ||||
Series 2021 | ||||
12/01/2040 | 4.000% | 600,000 | 739,518 | |
Regional Transportation District | ||||
Refunding Revenue Bonds | ||||
Denver Transit Partners | ||||
Series 2020 | ||||
07/15/2035 | 4.000% | 250,000 | 305,654 |
10 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Regional Transportation District Sales Tax | ||||
Refunding Revenue Bonds | ||||
FasTracks Project Green Bonds | ||||
Series 2021 | ||||
11/01/2039 | 4.000% | 400,000 | 494,645 | |
State of Colorado | ||||
Certificate of Participation | ||||
Series 2020A | ||||
12/15/2034 | 4.000% | 125,000 | 155,345 | |
Series 2021A | ||||
12/15/2040 | 4.000% | 300,000 | 371,117 | |
Total | 2,359,133 | |||
Connecticut 1.3% | ||||
State of Connecticut | ||||
Revenue Bonds | ||||
Series 2021A | ||||
05/01/2032 | 5.000% | 400,000 | 543,702 | |
State of Connecticut(d) | ||||
Unlimited General Obligation Bonds | ||||
Forward Delivery Social Bonds | ||||
Series 2021 | ||||
07/15/2027 | 5.000% | 300,000 | 378,611 | |
Total | 922,313 | |||
District of Columbia 1.3% | ||||
District of Columbia | ||||
Refunding Revenue Bonds | ||||
Friendship Public Charter School | ||||
Series 2016 | ||||
06/01/2041 | 5.000% | 250,000 | 286,300 | |
Washington Metropolitan Area Transit Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
07/15/2045 | 5.000% | 500,000 | 648,134 | |
Total | 934,434 | |||
Florida 4.3% | ||||
Alachua County Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Shands Teaching Hospital & Clinics | ||||
Series 2019 | ||||
12/01/2037 | 5.000% | 400,000 | 515,986 | |
City of Tallahassee | ||||
Revenue Bonds | ||||
Tallahassee Memorial Healthcare, Inc. Project | ||||
Series 2016 | ||||
12/01/2055 | 5.000% | 250,000 | 284,653 | |
County of Miami-Dade Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2019C | ||||
10/01/2049 | 4.000% | 500,000 | 588,339 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Subordinated Series 2021 | ||||
10/01/2038 | 4.000% | 250,000 | 310,481 | |
Florida Development Finance Corp.(a) | ||||
Revenue Bonds | ||||
Renaissance Charter School Inc. Projects | ||||
Series 2015 | ||||
06/15/2025 | 5.000% | 100,000 | 107,867 | |
Miami-Dade County Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Nicklaus Childrens Hospital | ||||
Series 2017 | ||||
08/01/2037 | 5.000% | 500,000 | 609,491 | |
Palm Beach County School District | ||||
Certificate of Participation | ||||
Series 2020A | ||||
08/01/2034 | 5.000% | 250,000 | 330,819 | |
School District of Broward County | ||||
Refunding Certificate of Participation | ||||
Series 2016A | ||||
07/01/2032 | 5.000% | 250,000 | 299,827 | |
Total | 3,047,463 | |||
Georgia 1.1% | ||||
Cedartown Polk County Hospital Authority | ||||
Prerefunded 07/01/26 Revenue Bonds | ||||
RAC Series 2016 | ||||
07/01/2039 | 5.000% | 250,000 | 303,966 | |
Forsyth County School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
02/01/2030 | 5.000% | 350,000 | 471,907 | |
Total | 775,873 | |||
Idaho 1.1% | ||||
Idaho Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Madison Memorial Hospital | ||||
Series 2016 | ||||
09/01/2028 | 5.000% | 250,000 | 295,411 | |
Idaho Housing & Finance Association | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
07/15/2034 | 5.000% | 250,000 | 336,453 | |
Revenue Bonds | ||||
Series 2015A-1 | ||||
07/01/2025 | 3.200% | 160,000 | 169,975 | |
Total | 801,839 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 11 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Illinois 4.8% | ||||
Chicago Board of Education | ||||
Unlimited General Obligation Bonds | ||||
Dedicated | ||||
Series 2017H | ||||
12/01/2036 | 5.000% | 335,000 | 408,654 | |
Chicago Park District | ||||
Limited General Obligation Bonds | ||||
Series 2016A | ||||
01/01/2032 | 5.000% | 300,000 | 348,439 | |
City of Chicago Wastewater Transmission | ||||
Revenue Bonds | ||||
2nd Lien | ||||
Series 2017A | ||||
01/01/2031 | 5.000% | 300,000 | 365,595 | |
City of Chicago Waterworks | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2001 (AMBAC) | ||||
11/01/2030 | 5.750% | 585,000 | 717,934 | |
Cook County Community College District No. 508 | ||||
Unlimited General Obligation Bonds | ||||
Chicago City Colleges | ||||
Series 2017 (BAM) | ||||
12/01/2047 | 5.000% | 100,000 | 117,945 | |
Cook County Community High School District No. 212 Leyden | ||||
Revenue Bonds | ||||
Series 2016C (BAM) | ||||
12/01/2034 | 5.000% | 250,000 | 287,873 | |
Illinois Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
LEARN Charter School Project Social Bonds | ||||
Series 2021 | ||||
11/01/2041 | 4.000% | 300,000 | 356,724 | |
Illinois Finance Authority | ||||
Refunding Revenue Bonds | ||||
Southern Illinois Healthcare, Inc. | ||||
Series 2017 | ||||
03/01/2034 | 5.000% | 150,000 | 180,032 | |
Metropolitan Water Reclamation District of Greater Chicago | ||||
Unlimited General Obligation Bonds | ||||
Green Bonds | ||||
Series 2016E | ||||
12/01/2035 | 5.000% | 500,000 | 612,436 | |
Total | 3,395,632 | |||
Indiana 2.8% | ||||
Ball State University | ||||
Revenue Bonds | ||||
Housing and Dining | ||||
Series 2018 | ||||
07/01/2038 | 5.000% | 500,000 | 624,410 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Indiana Finance Authority | ||||
Refunding Revenue Bonds | ||||
First Lien - CWA Authority Project | ||||
Series 2021 | ||||
10/01/2035 | 4.000% | 250,000 | 313,910 | |
Revenue Bonds | ||||
Green Bonds - CWA Authority Project | ||||
Series 2019 | ||||
10/01/2044 | 5.000% | 350,000 | 448,489 | |
Taxable Revenue Bonds | ||||
Series 2016A | ||||
07/01/2027 | 2.816% | 250,000 | 272,952 | |
Northern Indiana Commuter Transportation District | ||||
Revenue Bonds | ||||
Series 2016 | ||||
07/01/2032 | 5.000% | 250,000 | 302,369 | |
Total | 1,962,130 | |||
Kentucky 0.6% | ||||
Kentucky Economic Development Finance Authority | ||||
Refunding Revenue Bonds | ||||
Owensboro Health System | ||||
Series 2017A | ||||
06/01/2026 | 5.000% | 350,000 | 411,498 | |
Louisiana 3.9% | ||||
City of New Orleans Sewerage Service | ||||
Revenue Bonds | ||||
Series 2020B (AGM) | ||||
06/01/2035 | 4.000% | 150,000 | 179,857 | |
City of Shreveport Water & Sewer | ||||
Revenue Bonds | ||||
Junior Lien | ||||
Series 2017B (AGM) | ||||
12/01/2041 | 5.000% | 400,000 | 493,109 | |
Louisiana Local Government Environmental Facilities & Community Development Authority | ||||
Refunding Revenue Bonds | ||||
Act 391 Project | ||||
Series 2017 (BAM) | ||||
10/01/2028 | 5.000% | 300,000 | 385,072 | |
Ragin’ Cajun Facilities, Inc. - Student Housing | ||||
Series 2017 (AGM) | ||||
10/01/2039 | 5.000% | 300,000 | 371,030 | |
Revenue Bonds | ||||
Ragin’ Cajun Facilities, Inc. - Student Housing | ||||
Series 2018 | ||||
10/01/2043 | 5.000% | 200,000 | 243,137 |
12 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Louisiana Public Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Ochsner Clinic Foundation Project | ||||
Series 2017 | ||||
05/15/2034 | 5.000% | 400,000 | 485,943 | |
Revenue Bonds | ||||
LA Children’s Medical Center Project | ||||
Series 2018 | ||||
06/01/2039 | 5.000% | 500,000 | 615,548 | |
Total | 2,773,696 | |||
Maine 0.8% | ||||
Maine State Housing Authority | ||||
Revenue Bonds | ||||
Series 2016A | ||||
11/15/2035 | 3.300% | 250,000 | 265,178 | |
Series 2018B | ||||
11/15/2038 | 3.750% | 250,000 | 271,313 | |
Total | 536,491 | |||
Maryland 2.9% | ||||
City of Baltimore | ||||
Refunding Revenue Bonds | ||||
East Baltimore Research Park | ||||
Series 2017 | ||||
09/01/2038 | 5.000% | 300,000 | 339,870 | |
Enterprise Community Loan Fund, Inc. | ||||
Series 2018 | ||||
11/01/2028 | 4.152% | 500,000 | 526,183 | |
Howard County Housing Commission | ||||
Revenue Bonds | ||||
Woodfield Oxford Square Apartments | ||||
Series 2017 | ||||
12/01/2037 | 5.000% | 300,000 | 354,553 | |
Maryland Health & Higher Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Meritus Medical Center Issue | ||||
Series 2015 | ||||
07/01/2023 | 5.000% | 250,000 | 272,669 | |
Revenue Bonds | ||||
MedStar Health | ||||
Series 1998A (AGM) | ||||
08/15/2038 | 5.250% | 425,000 | 590,664 | |
Total | 2,083,939 | |||
Massachusetts 2.3% | ||||
Martha’s Vineyard Land Bank | ||||
Refunding Revenue Bonds | ||||
Green Bonds | ||||
Series 2017 (BAM) | ||||
05/01/2036 | 5.000% | 300,000 | 365,980 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts Development Finance Agency | ||||
Revenue Bonds | ||||
Green Bonds - Boston Medical Center | ||||
Series 2015 | ||||
07/01/2044 | 5.000% | 250,000 | 285,394 | |
Series 2017 | ||||
07/01/2028 | 5.000% | 200,000 | 246,798 | |
Massachusetts Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Series 2016-181 | ||||
12/01/2036 | 3.600% | 150,000 | 156,831 | |
Revenue Bonds | ||||
Special Obligations | ||||
Series 2017D | ||||
12/01/2042 | 3.750% | 500,000 | 549,061 | |
Total | 1,604,064 | |||
Michigan 2.7% | ||||
City of Detroit | ||||
Unlimited General Obligation Bonds | ||||
Social Bonds | ||||
Series 2021A | ||||
04/01/2035 | 5.000% | 150,000 | 188,568 | |
Karegnondi Water Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018 | ||||
11/01/2045 | 5.000% | 400,000 | 488,024 | |
Michigan Finance Authority | ||||
Revenue Bonds | ||||
Local Government Loan Program - Great Lakes Water Authority | ||||
Series 2015 | ||||
07/01/2032 | 5.000% | 250,000 | 292,449 | |
Series 2015 (BAM) | ||||
07/01/2033 | 5.000% | 250,000 | 292,661 | |
Michigan State Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
10/01/2033 | 3.550% | 500,000 | 553,802 | |
12/01/2033 | 3.600% | 70,000 | 77,105 | |
Total | 1,892,609 | |||
Minnesota 0.7% | ||||
Northwest Multi-County Housing & Redevelopment Authority | ||||
Refunding Revenue Bonds | ||||
Pooled Housing Program | ||||
Series 2015 | ||||
07/01/2024 | 4.000% | 250,000 | 259,278 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 13 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
St. Cloud Housing & Redevelopment Authority(e) | ||||
Taxable Revenue Bonds | ||||
Sanctuary St. Cloud Project | ||||
Series 2016 | ||||
08/01/2036 | 0.000% | 240,000 | 221,010 | |
Total | 480,288 | |||
Mississippi 1.7% | ||||
Biloxi Public School District | ||||
Revenue Bonds | ||||
Trust Certificates | ||||
Series 2016 (BAM) | ||||
04/01/2029 | 5.000% | 250,000 | 297,842 | |
Mississippi Development Bank | ||||
Revenue Bonds | ||||
Mississippi Gulf Coast Community College District | ||||
Series 2016F | ||||
12/01/2032 | 4.000% | 300,000 | 346,305 | |
West Rankin Utility Authority | ||||
Revenue Bonds | ||||
Series 2018 (AGM) | ||||
01/01/2036 | 5.000% | 500,000 | 574,077 | |
Total | 1,218,224 | |||
Missouri 0.7% | ||||
Cape Girardeau County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
SoutheastHEALTH | ||||
Series 2017 | ||||
03/01/2031 | 5.000% | 400,000 | 477,091 | |
Missouri Housing Development Commission | ||||
Revenue Bonds | ||||
First Place Homeownership Loan Program | ||||
Series 2015 | ||||
11/01/2027 | 3.250% | 45,000 | 46,660 | |
Total | 523,751 | |||
Nevada 1.4% | ||||
City of Reno | ||||
Revenue Bonds | ||||
Reno Transportation 2nd Lien | ||||
Series 2018 (AGM) | ||||
06/01/2038 | 5.000% | 250,000 | 303,481 | |
Clark County School District | ||||
Limited General Obligation Bonds | ||||
Series 2020B (BAM) | ||||
06/15/2031 | 5.000% | 335,000 | 444,956 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of Nevada Department of Business & Industry(a) | ||||
Revenue Bonds | ||||
Somerset Academy | ||||
Series 2018A | ||||
12/15/2038 | 5.000% | 250,000 | 280,204 | |
Total | 1,028,641 | |||
New Hampshire 1.3% | ||||
New Hampshire Business Finance Authority(a),(f) | ||||
Refunding Revenue Bonds | ||||
Green Bonds | ||||
Series 2020B (Mandatory Put 07/02/40) | ||||
07/01/2045 | 3.750% | 145,000 | 155,915 | |
New Hampshire Business Finance Authority | ||||
Revenue Bonds | ||||
Municipal Certificates | ||||
Series 2020A-1 | ||||
01/20/2034 | 4.125% | 195,959 | 238,302 | |
New Hampshire Health & Education Facilities Authority Act | ||||
Refunding Revenue Bonds | ||||
Dartmouth-Hitchcock Obligation | ||||
Series 2018 | ||||
08/01/2036 | 5.000% | 400,000 | 498,230 | |
Total | 892,447 | |||
New Jersey 1.6% | ||||
New Jersey Economic Development Authority | ||||
Revenue Bonds | ||||
Transportation Project | ||||
Series 2020 | ||||
11/01/2040 | 5.000% | 500,000 | 629,595 | |
New Jersey Housing & Mortgage Finance Agency(f) | ||||
Refunding Revenue Bonds | ||||
Series 2017D | ||||
11/01/2032 | 3.900% | 300,000 | 328,770 | |
New Jersey Housing & Mortgage Finance Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A (HUD) | ||||
11/01/2035 | 2.100% | 200,000 | 203,524 | |
Total | 1,161,889 | |||
New York 6.1% | ||||
Build NYC Resource Corp. | ||||
Revenue Bonds | ||||
Academic Leadership Charter School Project | ||||
Series 2021 | ||||
06/15/2031 | 4.000% | 100,000 | 116,297 | |
Series 2015 | ||||
07/01/2028 | 5.000% | 250,000 | 290,001 |
14 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Housing Development Corp. | ||||
Refunding Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2015S | ||||
05/01/2026 | 3.400% | 500,000 | 535,640 | |
Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2016 | ||||
11/01/2031 | 3.600% | 300,000 | 330,997 | |
Metropolitan Transportation Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2016A-1 | ||||
11/15/2033 | 5.000% | 250,000 | 294,663 | |
Series 2020C-1 | ||||
11/15/2050 | 5.000% | 150,000 | 187,634 | |
Series 2020A-1 (AGM) | ||||
11/15/2041 | 4.000% | 500,000 | 596,687 | |
New York City Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainability Bonds | ||||
Series 2020I-1 | ||||
11/01/2035 | 2.100% | 400,000 | 406,455 | |
New York City Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2017EE | ||||
06/15/2037 | 5.000% | 300,000 | 371,046 | |
New York State Housing Finance Agency | ||||
Revenue Bonds | ||||
Green Bonds - Affordable Housing | ||||
Series 2017 (GNMA) | ||||
11/01/2042 | 4.000% | 300,000 | 326,081 | |
Niagara Falls Public Water Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
07/15/2027 | 5.000% | 300,000 | 364,901 | |
Onondaga Civic Development Corp. | ||||
Refunding Revenue Bonds | ||||
Community College Housing Bonds | ||||
Series 2015 | ||||
10/01/2023 | 5.000% | 250,000 | 267,482 | |
State of New York Mortgage Agency(f) | ||||
Refunding Revenue Bonds | ||||
Series 2016-196 | ||||
10/01/2035 | 3.650% | 250,000 | 265,076 | |
Total | 4,352,960 | |||
North Carolina 2.1% | ||||
City of Charlotte Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
07/01/2034 | 5.000% | 200,000 | 267,749 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Scotland | ||||
Refunding Revenue Bonds | ||||
School Facilities | ||||
Series 2017 | ||||
12/01/2030 | 5.000% | 250,000 | 308,213 | |
North Carolina Capital Facilities Finance Agency | ||||
Refunding Revenue Bonds | ||||
The Arc of North Carolina | ||||
Series 2017 | ||||
10/01/2028 | 5.000% | 300,000 | 371,524 | |
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 44 | ||||
07/01/2040 | 2.850% | 500,000 | 532,095 | |
Total | 1,479,581 | |||
North Dakota 0.0% | ||||
North Dakota Housing Finance Agency | ||||
Revenue Bonds | ||||
Housing Finance Program-Home Mortgage Finance | ||||
Series 2017 | ||||
07/01/2034 | 3.700% | 25,000 | 26,912 | |
Ohio 2.2% | ||||
Akron Bath Copley Joint Township Hospital District | ||||
Refunding Revenue Bonds | ||||
Summa Health Obligated Group-Hospital | ||||
Series 2020 | ||||
11/15/2036 | 4.000% | 250,000 | 302,404 | |
Columbus City School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
School Facilities Construction & Improvement | ||||
Series 2016 | ||||
12/01/2032 | 5.000% | 250,000 | 301,616 | |
Miami Valley Career Technology Center | ||||
Unlimited General Obligation Bonds | ||||
Series 2018 | ||||
12/01/2044 | 5.000% | 400,000 | 495,295 | |
State of Ohio | ||||
Refunding Revenue Bonds | ||||
University Hospital Health System, Inc. | ||||
Series 2020 | ||||
01/15/2050 | 4.000% | 400,000 | 465,388 | |
Total | 1,564,703 | |||
Oregon 0.7% | ||||
Medford Hospital Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Asante Project | ||||
Series 2020A | ||||
08/15/2050 | 5.000% | 400,000 | 514,079 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 15 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pennsylvania 5.4% | ||||
City of Philadelphia Water & Wastewater | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
10/01/2028 | 5.000% | 300,000 | 389,173 | |
Mifflinburg Area School District | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2020A | ||||
06/15/2039 | 4.000% | 200,000 | 237,028 | |
06/15/2040 | 4.000% | 250,000 | 294,388 | |
Pennsylvania Economic Development Financing Authority | ||||
Refunding Revenue Bonds | ||||
Philadelphia Biosolids Facility Project | ||||
Series 2020 | ||||
01/01/2032 | 4.000% | 300,000 | 360,569 | |
Pennsylvania Higher Education Assistance Agency(f) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
06/01/2027 | 5.000% | 250,000 | 304,761 | |
Pennsylvania Turnpike Commission | ||||
Refunding Revenue Bonds | ||||
Mass Transit Projects | ||||
Subordinated Series 2016A-1 | ||||
12/01/2041 | 5.000% | 200,000 | 235,171 | |
Revenue Bonds | ||||
Series 2019A | ||||
12/01/2044 | 5.000% | 500,000 | 642,053 | |
Redevelopment Authority of the City of Philadelphia | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
04/15/2028 | 5.000% | 250,000 | 291,093 | |
Reinvestment Fund, Inc. (The) | ||||
Series 2018 | ||||
02/15/2028 | 3.930% | 500,000 | 517,036 | |
School District of Philadelphia (The) | ||||
Limited General Obligation Bonds | ||||
Series 2018A | ||||
09/01/2036 | 5.000% | 100,000 | 125,363 | |
Scranton School District | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2017D (NPFGC) | ||||
06/01/2037 | 4.250% | 250,000 | 276,829 | |
Series 2017E (BAM) | ||||
12/01/2035 | 5.000% | 150,000 | 183,491 | |
Total | 3,856,955 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Puerto Rico 1.2% | ||||
Puerto Rico Housing Finance Authority(g) | ||||
Refunding Revenue Bonds | ||||
Public Housing Project | ||||
Series 2020 | ||||
12/01/2026 | 5.000% | 700,000 | 855,357 | |
Rhode Island 2.1% | ||||
Rhode Island Health & Educational Building Corp. | ||||
Refunding Revenue Bonds | ||||
Woonsocket Schools | ||||
Series 2017A (AGM) | ||||
05/15/2028 | 5.000% | 300,000 | 373,400 | |
Rhode Island Housing & Mortgage Finance Corp.(f) | ||||
Refunding Revenue Bonds | ||||
Homeownership Opportunity | ||||
Series 2015 | ||||
10/01/2025 | 3.550% | 250,000 | 265,901 | |
Rhode Island Housing & Mortgage Finance Corp. | ||||
Revenue Bonds | ||||
Multi-Family Development and Sustainability | ||||
Series 2019 | ||||
10/01/2034 | 2.750% | 500,000 | 537,873 | |
Rhode Island Student Loan Authority(f) | ||||
Revenue Bonds | ||||
Student Loan Program | ||||
Series 2019A | ||||
12/01/2027 | 5.000% | 250,000 | 309,692 | |
Total | 1,486,866 | |||
Tennessee 1.2% | ||||
Greeneville Health & Educational Facilities Board | ||||
Refunding Revenue Bonds | ||||
Ballad Health Obligation Group | ||||
Series 2018 | ||||
07/01/2037 | 5.000% | 500,000 | 620,676 | |
New Memphis Arena Public Building Authority(h) | ||||
Revenue Bonds | ||||
City of Memphis Project | ||||
Series 2021 | ||||
04/01/2032 | 0.000% | 300,000 | 254,084 | |
Total | 874,760 | |||
Texas 7.0% | ||||
Alamo Community College District | ||||
Limited General Obligation Bonds | ||||
Series 2021 | ||||
08/15/2039 | 4.000% | 400,000 | 488,548 |
16 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Arlington Higher Education Finance Corp. | ||||
Revenue Bonds | ||||
Harmony Public Schools | ||||
Series 2016A | ||||
02/15/2031 | 5.000% | 250,000 | 295,213 | |
Bexar County Hospital District | ||||
Limited General Obligation Bonds | ||||
Series 2018 | ||||
02/15/2043 | 4.000% | 300,000 | 344,481 | |
Carrollton-Farmers Branch Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Dallas and Denton Counties | ||||
Series 2021 | ||||
02/15/2030 | 5.000% | 400,000 | 536,238 | |
Clifton Higher Education Finance Corp. | ||||
Revenue Bonds | ||||
International Leadership of Texas, Inc. | ||||
Series 2021 | ||||
08/15/2031 | 5.000% | 300,000 | 405,340 | |
Collin County Community College District | ||||
Limited General Obligation Bonds | ||||
Series 2018 | ||||
08/15/2025 | 5.000% | 410,000 | 487,132 | |
Deaf Smith County Hospital District | ||||
Limited General Obligation Refunding Bonds | ||||
Series 2017 | ||||
03/01/2034 | 5.000% | 500,000 | 593,289 | |
Frisco Independent School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2021 | ||||
02/15/2032 | 4.000% | 350,000 | 441,744 | |
Harris County Flood Control District | ||||
Limited General Obligation Bonds | ||||
Series 2020A | ||||
10/01/2035 | 4.000% | 500,000 | 611,774 | |
New Hope Cultural Education Facilities Finance Corp. | ||||
Revenue Bonds | ||||
Cardinal Bay Senior Living/Village on the Park | ||||
Series 2016 | ||||
07/01/2046 | 5.000% | 100,000 | 77,834 | |
Old Spanish Trail-Almeda Corridors Redevelopment Authority | ||||
Refunding Tax Allocation Bonds | ||||
Series 2019 (BAM) | ||||
09/01/2036 | 4.000% | 250,000 | 292,825 | |
Texas Private Activity Bond Surface Transportation Corp. | ||||
Refunding Revenue Bonds | ||||
LBJ Infrastructure Group LLC I-635 Managed Lanes Project | ||||
Series 2020 | ||||
12/31/2039 | 4.000% | 100,000 | 119,305 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Texas State Technical College | ||||
Refunding Revenue Bonds | ||||
Improvements | ||||
Series 2016 (AGM) | ||||
10/15/2030 | 4.000% | 250,000 | 288,409 | |
Total | 4,982,132 | |||
Utah 0.7% | ||||
Central Utah Water Conservancy District | ||||
Revenue Bonds | ||||
Series 2020D | ||||
10/01/2040 | 4.000% | 420,000 | 516,835 | |
Virginia 2.1% | ||||
County of Arlington | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2014B | ||||
08/15/2023 | 5.000% | 450,000 | 495,111 | |
Virginia Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
03/01/2043 | 3.650% | 400,000 | 436,640 | |
Series 2020E | ||||
07/01/2040 | 2.300% | 585,000 | 594,783 | |
Total | 1,526,534 | |||
Washington 3.9% | ||||
Energy Northwest | ||||
Wind Project Refunding Revenue Bonds | ||||
Series 2015 | ||||
07/01/2029 | 4.000% | 250,000 | 278,836 | |
King County Housing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018 | ||||
05/01/2038 | 3.750% | 400,000 | 450,326 | |
King County Public Hospital District No. 4 | ||||
Revenue Bonds | ||||
Series 2015A | ||||
12/01/2035 | 6.000% | 200,000 | 222,102 | |
North Thurston Public Schools | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
12/01/2035 | 4.000% | 500,000 | 615,930 | |
Seattle Housing Authority | ||||
Refunding Revenue Bonds | ||||
Pooled Housing | ||||
Series 2018 | ||||
12/01/2047 | 3.750% | 300,000 | 327,518 | |
State of Washington | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
08/01/2044 | 5.000% | 400,000 | 512,481 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 17 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Washington Health Care Facilities Authority | ||||
Revenue Bonds | ||||
Seattle Childrens Hospital | ||||
Series 2017 | ||||
10/01/2047 | 5.000% | 300,000 | 365,325 | |
Total | 2,772,518 | |||
West Virginia 1.5% | ||||
West Virginia Hospital Finance Authority | ||||
Revenue Bonds | ||||
West Virginia University Health System Obligation | ||||
Series 2018 | ||||
06/01/2052 | 5.000% | 500,000 | 609,660 | |
West Virginia Housing Development Fund | ||||
Revenue Bonds | ||||
Series 2019B | ||||
11/01/2039 | 2.850% | 450,000 | 479,744 | |
Total | 1,089,404 | |||
Wisconsin 0.6% | ||||
Wisconsin Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Covenant Communities, Inc. Project | ||||
Series 2018B | ||||
07/01/2053 | 5.000% | 100,000 | 104,688 | |
Wisconsin Housing & Economic Development Authority | ||||
Revenue Bonds | ||||
Series 2019C (FNMA) | ||||
09/01/2030 | 2.100% | 300,000 | 313,977 | |
Total | 418,665 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Wyoming 0.2% | ||||
Wyoming Community Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018-1 | ||||
12/01/2038 | 3.900% | 165,000 | 172,725 | |
Total Municipal Bonds (Cost $57,722,382) | 62,084,797 |
Money Market Funds 2.4% | ||
Shares | Value ($) | |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(i) | 1,689,133 | 1,689,133 |
Total Money Market Funds (Cost $1,689,133) | 1,689,133 | |
Total Investments in Securities (Cost $66,621,615) | 71,312,853 | |
Other Assets & Liabilities, Net | (29,995) | |
Net Assets | $71,282,858 |
(a) | 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 July 31, 2021, the total value of these securities amounted to $2,224,863, which represents 3.12% of total net assets. |
(b) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(c) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of July 31, 2021. |
(d) | Represents a security purchased on a when-issued basis. |
(e) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2021, the total value of these securities amounted to $221,010, which represents 0.31% of total net assets. |
(f) | Income from this security may be subject to alternative minimum tax. |
(g) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At July 31, 2021, the total value of these securities amounted to $855,357, which represents 1.20% of total net assets. |
(h) | Zero coupon bond. |
(i) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
18 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
HUD | Department of Housing and Urban Development |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Corporate Bonds & Notes | — | 7,088,923 | — | 7,088,923 |
Floating Rate Notes | — | 450,000 | — | 450,000 |
Municipal Bonds | — | 62,084,797 | — | 62,084,797 |
Money Market Funds | 1,689,133 | — | — | 1,689,133 |
Total Investments in Securities | 1,689,133 | 69,623,720 | — | 71,312,853 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 19 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $66,621,615) | $71,312,853 |
Cash | 128,465 |
Receivable for: | |
Capital shares sold | 205,710 |
Interest | 605,609 |
Expense reimbursement due from Investment Manager | 774 |
Prepaid expenses | 3,377 |
Trustees’ deferred compensation plan | 38,997 |
Total assets | 72,295,785 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 729,018 |
Capital shares purchased | 93,983 |
Distributions to shareholders | 123,711 |
Management services fees | 935 |
Distribution and/or service fees | 142 |
Transfer agent fees | 4,114 |
Compensation of board members | 4,170 |
Compensation of chief compliance officer | 2 |
Other expenses | 17,855 |
Trustees’ deferred compensation plan | 38,997 |
Total liabilities | 1,012,927 |
Net assets applicable to outstanding capital stock | $71,282,858 |
Represented by | |
Paid in capital | 67,023,267 |
Total distributable earnings (loss) | 4,259,591 |
Total - representing net assets applicable to outstanding capital stock | $71,282,858 |
Class A | |
Net assets | $14,841,206 |
Shares outstanding | 1,366,125 |
Net asset value per share | $10.86 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $11.20 |
Advisor Class | |
Net assets | $2,554,083 |
Shares outstanding | 235,126 |
Net asset value per share | $10.86 |
Class C | |
Net assets | $1,456,175 |
Shares outstanding | 134,065 |
Net asset value per share | $10.86 |
Institutional Class | |
Net assets | $41,855,625 |
Shares outstanding | 3,852,625 |
Net asset value per share | $10.86 |
Institutional 2 Class | |
Net assets | $3,461,162 |
Shares outstanding | 318,329 |
Net asset value per share | $10.87 |
Institutional 3 Class | |
Net assets | $7,114,607 |
Shares outstanding | 652,596 |
Net asset value per share | $10.90 |
20 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $818 |
Interest | 1,801,649 |
Total income | 1,802,467 |
Expenses: | |
Management services fees | 322,080 |
Distribution and/or service fees | |
Class A | 36,187 |
Class C | 17,458 |
Transfer agent fees | |
Class A | 12,766 |
Advisor Class | 1,866 |
Class C | 1,540 |
Institutional Class | 35,015 |
Institutional 2 Class | 1,911 |
Institutional 3 Class | 469 |
Compensation of board members | 16,003 |
Custodian fees | 1,766 |
Printing and postage fees | 13,040 |
Registration fees | 96,806 |
Audit fees | 29,500 |
Legal fees | 7,654 |
Compensation of chief compliance officer | 20 |
Other | 12,099 |
Total expenses | 606,180 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (254,019) |
Total net expenses | 352,161 |
Net investment income | 1,450,306 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 36,147 |
Futures contracts | (2,688) |
Net realized gain | 33,459 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 734,051 |
Net change in unrealized appreciation (depreciation) | 734,051 |
Net realized and unrealized gain | 767,510 |
Net increase in net assets resulting from operations | $2,217,816 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 21 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $1,450,306 | $1,411,563 |
Net realized gain (loss) | 33,459 | (8,156) |
Net change in unrealized appreciation (depreciation) | 734,051 | 1,393,440 |
Net increase in net assets resulting from operations | 2,217,816 | 2,796,847 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (286,103) | (334,977) |
Advisor Class | (47,112) | (38,652) |
Class C | (21,380) | (31,142) |
Institutional Class | (884,786) | (849,002) |
Institutional 2 Class | (71,421) | (89,840) |
Institutional 3 Class | (135,066) | (125,062) |
Total distributions to shareholders | (1,445,868) | (1,468,675) |
Increase in net assets from capital stock activity | 7,480,454 | 9,231,774 |
Total increase in net assets | 8,252,402 | 10,559,946 |
Net assets at beginning of year | 63,030,456 | 52,470,510 |
Net assets at end of year | $71,282,858 | $63,030,456 |
22 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 276,112 | 2,970,060 | 553,446 | 5,814,007 |
Distributions reinvested | 20,204 | 216,513 | 25,592 | 270,489 |
Redemptions | (298,959) | (3,208,079) | (332,474) | (3,474,454) |
Net increase (decrease) | (2,643) | (21,506) | 246,564 | 2,610,042 |
Advisor Class | ||||
Subscriptions | 88,294 | 949,990 | 161,085 | 1,707,933 |
Distributions reinvested | 4,372 | 46,874 | 3,631 | 38,361 |
Redemptions | (44,592) | (478,911) | (37,458) | (389,294) |
Net increase | 48,074 | 517,953 | 127,258 | 1,357,000 |
Class C | ||||
Subscriptions | 51,442 | 549,748 | 26,815 | 284,538 |
Distributions reinvested | 1,522 | 16,303 | 2,449 | 25,889 |
Redemptions | (83,018) | (891,596) | (36,711) | (391,181) |
Net decrease | (30,054) | (325,545) | (7,447) | (80,754) |
Institutional Class | ||||
Subscriptions | 1,454,645 | 15,589,987 | 1,924,333 | 20,202,651 |
Distributions reinvested | 61,656 | 660,810 | 59,637 | 630,532 |
Redemptions | (1,053,333) | (11,276,538) | (1,610,879) | (16,873,948) |
Net increase | 462,968 | 4,974,259 | 373,091 | 3,959,235 |
Institutional 2 Class | ||||
Subscriptions | 49,318 | 530,169 | 94,193 | 997,635 |
Distributions reinvested | 6,634 | 71,181 | 8,456 | 89,549 |
Redemptions | (9,151) | (98,319) | (118,099) | (1,282,570) |
Net increase (decrease) | 46,801 | 503,031 | (15,450) | (195,386) |
Institutional 3 Class | ||||
Subscriptions | 213,261 | 2,295,089 | 186,610 | 1,973,139 |
Distributions reinvested | 12,047 | 129,625 | 11,481 | 121,763 |
Redemptions | (55,063) | (592,452) | (48,996) | (513,265) |
Net increase | 170,245 | 1,832,262 | 149,095 | 1,581,637 |
Total net increase | 695,391 | 7,480,454 | 873,111 | 9,231,774 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $10.75 | 0.21 | 0.11 | 0.32 | (0.21) | — | (0.21) |
Year Ended 7/31/2020 | $10.51 | 0.25 | 0.25 | 0.50 | (0.25) | (0.01) | (0.26) |
Year Ended 7/31/2019 | $10.05 | 0.27 | 0.45 | 0.72 | (0.26) | — | (0.26) |
Year Ended 7/31/2018 | $10.18 | 0.24 | (0.13) | 0.11 | (0.24) | — | (0.24) |
Year Ended 7/31/2017 | $10.43 | 0.22 | (0.26) | (0.04) | (0.21) | — | (0.21) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $10.75 | 0.24 | 0.11 | 0.35 | (0.24) | — | (0.24) |
Year Ended 7/31/2020 | $10.51 | 0.28 | 0.25 | 0.53 | (0.28) | (0.01) | (0.29) |
Year Ended 7/31/2019 | $10.05 | 0.29 | 0.46 | 0.75 | (0.29) | — | (0.29) |
Year Ended 7/31/2018 | $10.18 | 0.28 | (0.14) | 0.14 | (0.27) | — | (0.27) |
Year Ended 7/31/2017 | $10.43 | 0.24 | (0.25) | (0.01) | (0.24) | — | (0.24) |
Class C | |||||||
Year Ended 7/31/2021 | $10.74 | 0.13 | 0.12 | 0.25 | (0.13) | — | (0.13) |
Year Ended 7/31/2020 | $10.51 | 0.17 | 0.24 | 0.41 | (0.17) | (0.01) | (0.18) |
Year Ended 7/31/2019 | $10.05 | 0.19 | 0.46 | 0.65 | (0.19) | — | (0.19) |
Year Ended 7/31/2018 | $10.17 | 0.17 | (0.12) | 0.05 | (0.17) | — | (0.17) |
Year Ended 7/31/2017 | $10.43 | 0.14 | (0.26) | (0.12) | (0.14) | — | (0.14) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $10.75 | 0.24 | 0.11 | 0.35 | (0.24) | — | (0.24) |
Year Ended 7/31/2020 | $10.51 | 0.28 | 0.25 | 0.53 | (0.28) | (0.01) | (0.29) |
Year Ended 7/31/2019 | $10.05 | 0.29 | 0.46 | 0.75 | (0.29) | — | (0.29) |
Year Ended 7/31/2018 | $10.18 | 0.27 | (0.13) | 0.14 | (0.27) | — | (0.27) |
Year Ended 7/31/2017 | $10.43 | 0.24 | (0.25) | (0.01) | (0.24) | — | (0.24) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $10.76 | 0.24 | 0.11 | 0.35 | (0.24) | — | (0.24) |
Year Ended 7/31/2020 | $10.52 | 0.28 | 0.25 | 0.53 | (0.28) | (0.01) | (0.29) |
Year Ended 7/31/2019 | $10.06 | 0.29 | 0.46 | 0.75 | (0.29) | — | (0.29) |
Year Ended 7/31/2018 | $10.18 | 0.27 | (0.12) | 0.15 | (0.27) | — | (0.27) |
Year Ended 7/31/2017 | $10.43 | 0.25 | (0.26) | (0.01) | (0.24) | — | (0.24) |
24 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 7/31/2021 | $10.86 | 3.03% | 1.08% | 0.70% | 1.98% | 13% | $14,841 |
Year Ended 7/31/2020 | $10.75 | 4.87% | 1.12% | 0.70% | 2.39% | 14% | $14,709 |
Year Ended 7/31/2019 | $10.51 | 7.33% | 1.14% | 0.70% | 2.63% | 11% | $11,797 |
Year Ended 7/31/2018 | $10.05 | 1.10% | 1.20% | 0.70% | 2.40% | 21% | $7,030 |
Year Ended 7/31/2017 | $10.18 | (0.31%) | 1.31% | 0.72% | 2.12% | 20% | $5,184 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $10.86 | 3.29% | 0.83% | 0.45% | 2.23% | 13% | $2,554 |
Year Ended 7/31/2020 | $10.75 | 5.13% | 0.87% | 0.45% | 2.64% | 14% | $2,010 |
Year Ended 7/31/2019 | $10.51 | 7.60% | 0.89% | 0.45% | 2.86% | 11% | $629 |
Year Ended 7/31/2018 | $10.05 | 1.36% | 0.94% | 0.45% | 2.76% | 21% | $86 |
Year Ended 7/31/2017 | $10.18 | (0.06%) | 1.06% | 0.47% | 2.38% | 20% | $10 |
Class C | |||||||
Year Ended 7/31/2021 | $10.86 | 2.36% | 1.83% | 1.45% | 1.23% | 13% | $1,456 |
Year Ended 7/31/2020 | $10.74 | 3.99% | 1.87% | 1.45% | 1.64% | 14% | $1,763 |
Year Ended 7/31/2019 | $10.51 | 6.53% | 1.89% | 1.45% | 1.88% | 11% | $1,803 |
Year Ended 7/31/2018 | $10.05 | 0.45% | 1.95% | 1.45% | 1.65% | 21% | $1,470 |
Year Ended 7/31/2017 | $10.17 | (1.16%) | 2.05% | 1.46% | 1.42% | 20% | $1,165 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $10.86 | 3.29% | 0.83% | 0.45% | 2.23% | 13% | $41,856 |
Year Ended 7/31/2020 | $10.75 | 5.13% | 0.86% | 0.45% | 2.64% | 14% | $36,426 |
Year Ended 7/31/2019 | $10.51 | 7.60% | 0.90% | 0.45% | 2.88% | 11% | $31,708 |
Year Ended 7/31/2018 | $10.05 | 1.36% | 0.95% | 0.45% | 2.65% | 21% | $36,887 |
Year Ended 7/31/2017 | $10.18 | (0.06%) | 1.06% | 0.47% | 2.39% | 20% | $34,257 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $10.87 | 3.31% | 0.80% | 0.43% | 2.25% | 13% | $3,461 |
Year Ended 7/31/2020 | $10.76 | 5.14% | 0.84% | 0.44% | 2.66% | 14% | $2,920 |
Year Ended 7/31/2019 | $10.52 | 7.60% | 0.87% | 0.44% | 2.89% | 11% | $3,018 |
Year Ended 7/31/2018 | $10.06 | 1.46% | 0.93% | 0.44% | 2.67% | 21% | $1,581 |
Year Ended 7/31/2017 | $10.18 | (0.05%) | 1.10% | 0.44% | 2.48% | 20% | $1,123 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 25 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $10.78 | 0.25 | 0.12 | 0.37 | (0.25) | — | (0.25) |
Year Ended 7/31/2020 | $10.55 | 0.28 | 0.25 | 0.53 | (0.29) | (0.01) | (0.30) |
Year Ended 7/31/2019 | $10.09 | 0.30 | 0.45 | 0.75 | (0.29) | — | (0.29) |
Year Ended 7/31/2018 | $10.21 | 0.27 | (0.12) | 0.15 | (0.27) | — | (0.27) |
Year Ended 7/31/2017(c) | $9.94 | 0.10 | 0.27(d) | 0.37 | (0.10) | — | (0.10) |
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) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(d) | 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. |
(e) | Annualized. |
26 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $10.90 | 3.46% | 0.75% | 0.38% | 2.30% | 13% | $7,115 |
Year Ended 7/31/2020 | $10.78 | 5.08% | 0.79% | 0.40% | 2.69% | 14% | $5,202 |
Year Ended 7/31/2019 | $10.55 | 7.61% | 0.84% | 0.42% | 2.91% | 11% | $3,515 |
Year Ended 7/31/2018 | $10.09 | 1.49% | 0.90% | 0.43% | 2.72% | 21% | $2,420 |
Year Ended 7/31/2017(c) | $10.21 | 3.76% | 1.02%(e) | 0.44%(e) | 2.46%(e) | 20% | $10 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 27 |
July 31, 2021
28 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Columbia U.S. Social Bond Fund | Annual Report 2021 | 29 |
July 31, 2021
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (2,688) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 956,211 |
30 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
* | Based on the ending daily outstanding amounts for the year ended July 31, 2021. |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 13,892 |
Class C | — | 1.00(b) | 1,399 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 33 |
July 31, 2021
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 0.70% | 0.70% |
Advisor Class | 0.45 | 0.45 |
Class C | 1.45 | 1.45 |
Institutional Class | 0.45 | 0.45 |
Institutional 2 Class | 0.42 | 0.44 |
Institutional 3 Class | 0.37 | 0.39 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
238,674 | 1,207,194 | — | 1,445,868 | 277,856 | 1,183,143 | 7,676 | 1,468,675 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 187,544 | — | (16,953) | 4,257,142 |
34 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
67,055,711 | 4,316,281 | (59,139) | 4,257,142 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(16,953) | — | (16,953) | — |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 35 |
July 31, 2021
36 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
July 31, 2021
Columbia U.S. Social Bond Fund | Annual Report 2021 | 37 |
July 31, 2021
38 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 39 |
Exempt- interest dividends | |
83.49% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
40 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 41 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
42 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 43 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008 - January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
44 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Petersen, who is Senior Vice President and Assistant Secretary, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 45 |
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | 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. |
46 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
• | 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 Advisory Agreements; |
• | Subadvisory fees payable by the Investment Manager under the Subadvisory 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 and the Subadviser under the Advisory Agreements, 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 and Subadviser, including information regarding senior management, portfolio managers and other personnel; |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 47 |
• | Information regarding the capabilities of the Investment Manager and the Subadviser 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). |
48 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
Columbia U.S. Social Bond Fund | Annual Report 2021 | 49 |
50 | Columbia U.S. Social Bond Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
(a)The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.
(b)During the period covered by this report, there were not any amendments to a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item.
(c)During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the code of ethics to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party that relates to one or more of the items set forth in paragraph (b) of this Item.
Item 3. Audit Committee Financial Expert.
The registrant's Board of Trustees has determined that David M. Moffett, Brian J. Gallagher, J. Kevin Connaughton, and Sandra L. Yeager, each of whom are members of the registrant's Board of Trustees and Audit Committee, each qualify as an audit committee financial expert. Mr. Moffett, Mr. Gallagher, Mr. Connaughton, and Ms. Yeager are each independent trustees, as defined in paragraph (a)(2) of this item's instructions.
Item 4. Principal Accountant Fees and Services.
Fee information below is disclosed for the five series of the registrant whose reports to stockholders are included in this annual filing.
(a)Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended July 31, 2021 and July 31, 2020 are approximately as follows:
20212020
$157,500 $151,000
Audit Fees include amounts related to the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
(b)Audit-Related Fees. Aggregate Audit-Related Fees billed to the registrant by the principal accountant for professional services rendered during the fiscal years ended July 31, 2021 and July 31, 2020 are approximately as follows:
2021 | 2020 |
$0 | $1,200 |
Audit-Related Fees include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.
During the fiscal years ended July 31, 2021 and July 31, 2020, there were no Audit- Related Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(c)Tax Fees. Aggregate Tax Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended July 31, 2021 and July 31,
2020 are approximately as follows:
2021 | 2020 |
$0 | $0 |
Tax Fees, if any, include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning.
During the fiscal years ended July 31, 2021 and July 31, 2020, there were no Tax Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(d)All Other Fees. Aggregate All Other Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended July 31, 2021 and July 31, 2020 are approximately as follows:
2021 | 2020 |
$0 | $0 |
All Other Fees, if any, include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above.
Aggregate All Other Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant during the fiscal years ended July 31,
2021 and July 31, 2020 are approximately as follows:
20212020
$520,000 $520,000
In fiscal years 2021 and 2020, All Other Fees primarily consists of fees billed for internal control examinations of the registrant's transfer agent and investment adviser.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant's Audit Committee is required to pre-approve the engagement of the registrant's independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the "Adviser") or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a "Control Affiliate") if the engagement relates directly to the operations and financial reporting of the registrant.
The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the "Policy"). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant's independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant ("Fund Services"); (ii) non-audit services to the registrant's Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund ("Fund-related Adviser Services"); and (iii) certain other audit and non-audit services to the registrant's Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund's independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC's rules are met.
Under the Policy, the Audit Committee may delegate pre-approval authority to any pre- designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre- approval decisions to the Audit Committee at its next regular meeting. The Audit Committee's responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.
On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund's Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre- approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre- approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.
The Fund's Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre-approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.
*****
(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
(f)Not applicable.
(g)The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal years ended July 31, 2021 and July 31,
2020 are approximately as follows:
20212020
$520,000 $521,200
(h)The registrant's Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant's adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant's independence.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a)The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR.
(b)Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a)The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b)There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected,
or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
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 I |
| |
By (Signature and Title) | /s/ Daniel J. Beckman |
| ||
|
|
| Daniel J. Beckman, President and Principal Executive Officer |
|
Date |
| September 22, 2021 |
|
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 |
| September 22, 2021 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| September 22, 2021 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| September 22, 2021 |
|