UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-04367
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: April 30
Date of reporting period: April 30, 2024
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.
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
3 | |
5 | |
7 | |
8 | |
23 | |
25 | |
26 | |
28 | |
30 | |
45 | |
46 | |
46 | |
52 |
Average annual total returns (%) (for the period ended April 30, 2024) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 03/31/08 | -0.53 | -0.13 | 1.16 |
Including sales charges | -5.27 | -1.09 | 0.67 | ||
Advisor Class | 11/08/12 | -0.25 | 0.13 | 1.41 | |
Institutional Class | 01/09/86 | -0.28 | 0.12 | 1.41 | |
Institutional 2 Class | 11/08/12 | -0.23 | 0.21 | 1.50 | |
Institutional 3 Class | 07/15/09 | -0.16 | 0.24 | 1.56 | |
Bloomberg U.S. Aggregate Bond Index | -1.47 | -0.16 | 1.20 |
Portfolio breakdown (%) (at April 30, 2024) | |
Asset-Backed Securities - Non-Agency | 17.7 |
Call Option Contracts Purchased | 0.1 |
Commercial Mortgage-Backed Securities - Agency | 0.1 |
Commercial Mortgage-Backed Securities - Non-Agency | 6.7 |
Common Stocks | 0.0 (a) |
Corporate Bonds & Notes | 15.6 |
Inflation-Indexed Bonds | 1.3 |
Money Market Funds | 4.0 |
Put Option Contracts Purchased | 0.1 |
Residential Mortgage-Backed Securities - Agency | 34.1 |
Residential Mortgage-Backed Securities - Non-Agency | 20.3 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at April 30, 2024) | |
AA rating | 65.8 |
A rating | 16.3 |
BBB rating | 12.9 |
BB rating | 0.1 |
Not rated | 4.9 |
Total | 100.0 |
November 1, 2023 — April 30, 2024 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,064.50 | 1,021.13 | 3.85 | 3.77 | 0.75 |
Advisor Class | 1,000.00 | 1,000.00 | 1,066.30 | 1,022.38 | 2.57 | 2.51 | 0.50 |
Institutional Class | 1,000.00 | 1,000.00 | 1,065.80 | 1,022.38 | 2.57 | 2.51 | 0.50 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,065.90 | 1,022.68 | 2.26 | 2.21 | 0.44 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,066.30 | 1,022.92 | 2.00 | 1.96 | 0.39 |
Asset-Backed Securities - Non-Agency 21.0% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
ACHV ABS Trust(a) | ||||
Series 2024-1PL Class A | ||||
04/25/2031 | 5.900% | 5,047,340 | 5,036,651 | |
Subordinated Series 2023-1PL Class B | ||||
03/18/2030 | 6.800% | 681,659 | 682,253 | |
Subordinated Series 2023-3PL Class C | ||||
08/19/2030 | 7.350% | 2,750,000 | 2,773,736 | |
ACM Auto Trust(a) | ||||
Series 2023-2A Class A | ||||
06/20/2030 | 7.970% | 1,454,082 | 1,462,219 | |
Affirm Asset Securitization Trust(a) | ||||
Series 2023-A Class 1A | ||||
01/18/2028 | 6.610% | 2,000,000 | 2,008,640 | |
Series 2023-A Class A | ||||
01/18/2028 | 6.610% | 2,900,000 | 2,912,529 | |
Series 2023-B Class A | ||||
09/15/2028 | 6.820% | 4,700,000 | 4,751,887 | |
American Credit Acceptance Receivables Trust(a) | ||||
Subordinated Series 2022-2 Class C | ||||
06/13/2028 | 4.410% | 2,705,784 | 2,696,607 | |
Avant Loans Funding Trust(a) | ||||
Subordinated Series 2021-REV1 Class B | ||||
07/15/2030 | 1.640% | 2,581,815 | 2,575,533 | |
Bain Capital Credit CLO Ltd.(a),(b) | ||||
Series 2018-1A Class B | ||||
3-month Term SOFR + 1.662% 04/23/2031 | 6.988% | 2,000,000 | 2,003,834 | |
Carlyle Global Market Strategies CLO Ltd.(a),(b) | ||||
Series 2016-1A Class A1R2 | ||||
3-month Term SOFR + 1.402% Floor 1.140% 04/20/2034 | 6.726% | 4,300,000 | 4,302,558 | |
Carlyle Group LP(a),(b) | ||||
Series 2017-5A Class A2 | ||||
3-month Term SOFR + 1.662% 01/20/2030 | 6.986% | 2,000,000 | 1,993,896 | |
Carvana Auto Receivables Trust(a) | ||||
Series 2023-N1 Class A | ||||
04/12/2027 | 6.360% | 3,883,494 | 3,890,693 | |
Cent CLO Ltd.(a),(b) | ||||
Series 2018-C17A Class A2R | ||||
3-month Term SOFR + 1.862% Floor 1.600% 04/30/2031 | 7.191% | 1,800,000 | 1,790,365 | |
Dell Equipment Finance Trust(a) | ||||
Series 2024-1 Class A2 | ||||
03/22/2030 | 5.580% | 1,790,000 | 1,788,176 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Dryden 83 CLO Ltd.(a),(b) | ||||
Series 2020-83A Class C | ||||
3-month Term SOFR + 2.412% Floor 2.150% 01/18/2032 | 7.739% | 5,000,000 | 5,001,750 | |
Dryden CLO Ltd.(a),(b) | ||||
Series 2018-57A Class B | ||||
3-month Term SOFR + 1.612% Floor 1.350% 05/15/2031 | 6.919% | 1,250,000 | 1,250,160 | |
DT Auto Owner Trust(a) | ||||
Series 2023-2A Class A | ||||
04/15/2027 | 5.880% | 3,565,154 | 3,565,581 | |
Subordinated Series 2021-3A Class C | ||||
05/17/2027 | 0.870% | 1,398,437 | 1,380,366 | |
Subordinated Series 2022-1A Class C | ||||
11/15/2027 | 2.960% | 2,749,260 | 2,718,146 | |
Subordinated Series 2023-3A Class B | ||||
03/15/2028 | 6.070% | 4,850,000 | 4,825,171 | |
Exeter Automobile Receivables Trust | ||||
Series 2024-2A Class A2 | ||||
05/15/2026 | 5.700% | 4,400,000 | 4,399,349 | |
Subordinated Series 2023-3A Class B | ||||
09/15/2027 | 6.110% | 800,000 | 799,829 | |
GLS Auto Receivables Issuer Trust(a) | ||||
Subordinated Series 2022-1A-B Class B | ||||
05/15/2026 | 2.840% | 669,900 | 667,566 | |
GLS Auto Select Receivables Trust(a) | ||||
Series 2024-2A Class A2 | ||||
06/17/2030 | 5.580% | 2,335,000 | 2,329,018 | |
LendingPoint Asset Securitization Trust(a) | ||||
Subordinated Series 2022-A Class C | ||||
06/15/2029 | 2.820% | 699,444 | 694,505 | |
LL ABS Trust(a) | ||||
Series 2021-1A Class A | ||||
05/15/2029 | 1.070% | 1,912 | 1,909 | |
Madison Park Funding XXIV Ltd.(a),(b) | ||||
Series 2016-24A Class BR | ||||
3-month Term SOFR + 2.012% 10/20/2029 | 7.336% | 5,000,000 | 5,009,885 | |
Madison Park Funding XXVII Ltd.(a),(b) | ||||
Series 2018-27A Class A2 | ||||
3-month Term SOFR + 1.612% 04/20/2030 | 6.936% | 3,700,000 | 3,696,004 | |
Marlette Funding Trust(a) | ||||
Series 2023-2A Class A | ||||
06/15/2033 | 6.040% | 1,416,788 | 1,417,484 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2023-3A Class A | ||||
09/15/2033 | 6.490% | 1,763,809 | 1,765,935 | |
Octagon Investment Partners 35 Ltd.(a),(b) | ||||
Series 2018-1A Class A2 | ||||
3-month Term SOFR + 1.662% Floor 1.400% 01/20/2031 | 6.986% | 1,820,000 | 1,822,987 | |
Octagon Investment Partners XXII Ltd.(a),(b) | ||||
Series 2014-1A Class BRR | ||||
3-month Term SOFR + 1.712% Floor 1.450% 01/22/2030 | 7.036% | 4,000,000 | 3,997,068 | |
Oportun Issuance Trust(a) | ||||
Series 2021-B Class A | ||||
05/08/2031 | 1.470% | 6,800,000 | 6,423,928 | |
Series 2022-3 Class A | ||||
01/08/2030 | 7.451% | 68,148 | 68,159 | |
Pagaya AI Debt Trust(a) | ||||
Series 2023-3 Class A | ||||
12/16/2030 | 7.600% | 3,711,556 | 3,735,271 | |
Series 2023-5 Class A | ||||
04/15/2031 | 7.179% | 2,100,792 | 2,105,275 | |
Series 2023-6 Class A | ||||
06/16/2031 | 7.128% | 3,339,554 | 3,349,744 | |
Series 2024-2 Class A | ||||
08/15/2031 | 6.319% | 4,600,000 | 4,593,987 | |
Series 2024-3 Class A | ||||
10/15/2031 | 6.258% | 1,950,000 | 1,947,645 | |
Subordinated Series 2022-1 Class B | ||||
10/15/2029 | 3.344% | 4,199,445 | 4,101,921 | |
Subordinated Series 2022-2 Class B | ||||
01/15/2030 | 6.630% | 3,228,808 | 3,228,193 | |
Subordinated Series 2023-7 Class B | ||||
07/15/2031 | 7.549% | 3,010,912 | 3,020,161 | |
Subordinated Series 2024-3 Class B | ||||
10/15/2031 | 6.571% | 3,000,000 | 2,997,236 | |
Pagaya AI Debt Trust(a),(c) | ||||
Subordinated Series 2023-7 Class AB | ||||
07/15/2031 | 7.357% | 3,114,170 | 3,127,831 | |
Palmer Square Loan Funding Ltd.(a),(b) | ||||
Series 2022-3A Class A1BR | ||||
3-month Term SOFR + 1.400% Floor 1.400% 04/15/2031 | 6.729% | 2,800,000 | 2,800,274 | |
Prosper Marketplace Issuance Trust(a) | ||||
Subordinated Series 2023-1A Class B | ||||
07/16/2029 | 7.480% | 1,800,000 | 1,816,446 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Reach ABS Trust(a) | ||||
Subordinated Series 2023-1A Class B | ||||
02/18/2031 | 7.330% | 4,550,000 | 4,600,728 | |
Research-Driven Pagaya Motor Asset Trust(a) | ||||
Series 2023-4A Class A | ||||
03/25/2032 | 7.540% | 3,376,841 | 3,372,523 | |
Research-Driven Pagaya Motor Asset Trust IV(a) | ||||
Series 2021-2A Class A | ||||
03/25/2030 | 2.650% | 1,054,509 | 1,017,351 | |
Research-Driven Pagaya Motor Trust(a) | ||||
Series 2024-1A Class A | ||||
06/25/2032 | 7.090% | 2,195,000 | 2,194,546 | |
RR 1 LLC(a),(b) | ||||
Series 2017-1A Class A2B | ||||
3-month Term SOFR + 1.862% Floor 1.600% 07/15/2035 | 7.190% | 10,000,000 | 10,006,470 | |
RR 3 Ltd.(a),(b) | ||||
Series 2014-14A Class A1R2 | ||||
3-month Term SOFR + 1.352% Floor 1.090% 01/15/2030 | 6.680% | 2,699,110 | 2,702,725 | |
Santander Drive Auto Receivables Trust | ||||
Series 2024-1 Class A2 | ||||
02/16/2027 | 5.710% | 3,825,235 | 3,823,810 | |
Santander Revolving Auto Loan Trust(a) | ||||
Series 2019-A Class A | ||||
01/26/2032 | 2.510% | 3,496,000 | 3,408,695 | |
Theorem Funding Trust(a) | ||||
Series 2022-2A Class A | ||||
12/15/2028 | 6.060% | 984,690 | 982,356 | |
Series 2022-3A Class A | ||||
04/15/2029 | 7.600% | 2,174,379 | 2,190,457 | |
Series 2023-1A Class A | ||||
04/15/2029 | 7.580% | 1,105,332 | 1,114,348 | |
Upstart Pass-Through Trust(a) | ||||
Series 2021-ST1 Class A | ||||
02/20/2027 | 2.750% | 270,679 | 268,295 | |
Series 2021-ST10 Class A | ||||
01/20/2030 | 2.250% | 1,726,685 | 1,693,105 | |
Series 2021-ST6 Class A | ||||
08/20/2027 | 1.850% | 844,706 | 826,438 | |
Series 2021-ST9 Class A | ||||
11/20/2029 | 1.700% | 384,803 | 380,330 | |
Upstart Securitization Trust(a) | ||||
Series 2023-1 Class A | ||||
02/20/2033 | 6.590% | 644,167 | 643,941 | |
Series 2023-2 Class A | ||||
06/20/2033 | 6.770% | 1,396,616 | 1,399,676 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated Series 2021-5 Class B | ||||
11/20/2031 | 2.490% | 4,676,068 | 4,609,256 | |
Upstart Structured Pass-Through Trust(a) | ||||
Series 2022-1A Class A | ||||
04/15/2030 | 3.400% | 1,528,878 | 1,500,115 | |
Westlake Automobile Receivables Trust(a) | ||||
Series 2023-3A Class A3 | ||||
05/17/2027 | 5.820% | 1,800,000 | 1,801,122 | |
Total Asset-Backed Securities — Non-Agency (Cost $177,815,819) | 177,864,648 | |||
Commercial Mortgage-Backed Securities - Agency 0.1% | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates(c) | ||||
Series 2017-K070 Class A2 | ||||
11/25/2027 | 3.303% | 1,000,000 | 940,130 | |
Total Commercial Mortgage-Backed Securities - Agency (Cost $1,011,771) | 940,130 | |||
Commercial Mortgage-Backed Securities - Non-Agency 8.0% | ||||
BAMLL Commercial Mortgage Securities Trust(a),(c) | ||||
Series 2013-WBRK Class A | ||||
03/10/2037 | 3.652% | 1,350,000 | 1,250,509 | |
Braemar Hotels & Resorts Trust(a),(b) | ||||
Series 2018-PRME Class A | ||||
1-month Term SOFR + 0.867% Floor 0.820% 06/15/2035 | 6.256% | 79,212 | 78,902 | |
COMM Mortgage Trust(a),(c) | ||||
Subordinated Series 2020-CBM Class D | ||||
02/10/2037 | 3.754% | 1,750,000 | 1,668,684 | |
Corevest American Finance Trust(a) | ||||
Series 2020-4 Class A | ||||
12/15/2052 | 1.174% | 5,889,022 | 5,522,608 | |
Credit Suisse Mortgage Capital Certificates OA LLC(a) | ||||
Series 2014-USA Class A2 | ||||
09/15/2037 | 3.953% | 6,220,000 | 5,395,851 | |
Hilton USA Trust(a) | ||||
Subordinated Series 2016-SFP Class D | ||||
11/05/2035 | 4.927% | 1,646,000 | 744,546 | |
Invitation Homes Trust(a),(b) | ||||
Subordinated Series 2018-SFR4 Class C | ||||
1-month Term SOFR + 1.514% Floor 1.400% 01/17/2038 | 6.836% | 1,999,908 | 2,000,534 | |
JPMorgan Chase Commercial Mortgage Securities Trust(a),(c) | ||||
Subordinated Series 2021-2NU Class C | ||||
01/05/2040 | 2.077% | 1,750,000 | 1,314,532 | |
Morgan Stanley Capital I Trust(a),(c) | ||||
Series 2019-MEAD Class D | ||||
11/10/2036 | 3.283% | 1,200,000 | 1,077,427 |
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
New Residential Mortgage Loan Trust(a) | ||||
Series 2022-SFR1 Class A | ||||
02/17/2039 | 2.400% | 6,182,813 | 5,600,872 | |
One New York Plaza Trust(a),(b) | ||||
Subordinated Series 2020-1NYP Class B | ||||
1-month Term SOFR + 1.614% Floor 1.500% 01/15/2036 | 6.936% | 5,000,000 | 4,635,679 | |
Subordinated Series 2020-1NYP Class C | ||||
1-month Term SOFR + 2.314% Floor 2.200% 01/15/2036 | 7.636% | 5,000,000 | 4,604,268 | |
Progress Residential Trust(a) | ||||
Series 2020-SFR1 Class E | ||||
04/17/2037 | 3.032% | 1,800,000 | 1,739,105 | |
Series 2020-SFR3 Class B | ||||
10/17/2027 | 1.495% | 4,000,000 | 3,744,782 | |
Series 2020-SFR3 Class C | ||||
10/17/2027 | 1.695% | 6,250,000 | 5,855,713 | |
Series 2022-SFR1 Class A | ||||
02/17/2041 | 2.709% | 2,987,754 | 2,621,247 | |
Subordinated Series 2022-SFR4 Class B | ||||
05/17/2041 | 4.788% | 6,000,000 | 5,711,836 | |
SFO Commercial Mortgage Trust(a),(b) | ||||
Series 2021-555 Class A | ||||
1-month Term SOFR + 1.264% Floor 1.150% 05/15/2038 | 6.586% | 6,165,000 | 5,887,902 | |
Tricon American Homes(a) | ||||
Series 2020-SFR1 Class C | ||||
07/17/2038 | 2.249% | 7,000,000 | 6,448,141 | |
UBS Commercial Mortgage Trust(a),(b) | ||||
Series 2018-NYCH Class B | ||||
1-month Term SOFR + 1.297% Floor 1.250% 02/15/2032 | 6.618% | 900,000 | 867,736 | |
Wells Fargo Commercial Mortgage Trust(a),(b) | ||||
Subordinated Series 2017-SMP Class C | ||||
1-month Term SOFR + 1.372% Floor 1.200% 12/15/2034 | 6.693% | 800,000 | 696,606 | |
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost $73,899,907) | 67,467,480 |
Common Stocks 0.0% | ||
Issuer | Shares | Value ($) |
Consumer Staples 0.0% | ||
Beverages 0.0% | ||
Crimson Wine Group Ltd.(d) | 3 | 19 |
Total Consumer Staples | 19 | |
Energy 0.0% | ||
Oil, Gas & Consumable Fuels 0.0% | ||
Vitesse Energy, Inc. | 4 | 89 |
Total Energy | 89 | |
Financials 0.0% | ||
Capital Markets 0.0% | ||
Jefferies Financial Group, Inc. | 39 | 1,679 |
Total Financials | 1,679 | |
Total Common Stocks (Cost $—) | 1,787 |
Corporate Bonds & Notes 18.6% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 1.8% | ||||
BAE Systems PLC(a) | ||||
03/26/2029 | 5.125% | 997,000 | 978,949 | |
Boeing Co. (The) | ||||
08/01/2059 | 3.950% | 2,971,000 | 1,858,191 | |
Boeing Co. (The)(a),(e) | ||||
05/01/2064 | 7.008% | 416,000 | 416,322 | |
L3Harris Technologies, Inc. | ||||
01/15/2027 | 5.400% | 5,070,000 | 5,060,634 | |
07/31/2033 | 5.400% | 686,000 | 668,134 | |
Lockheed Martin Corp. | ||||
08/15/2034 | 4.800% | 604,000 | 578,263 | |
Northrop Grumman Corp. | ||||
06/01/2034 | 4.900% | 3,950,000 | 3,763,578 | |
Raytheon Technologies Corp. | ||||
03/15/2032 | 2.375% | 2,441,000 | 1,952,031 | |
Total | 15,276,102 | |||
Banking 5.7% | ||||
Bank of America Corp.(f) | ||||
10/24/2031 | 1.922% | 2,300,000 | 1,828,155 | |
10/20/2032 | 2.572% | 5,507,000 | 4,443,117 | |
02/04/2033 | 2.972% | 5,600,000 | 4,616,647 | |
Subordinated | ||||
09/21/2036 | 2.482% | 179,000 | 139,960 | |
Citigroup, Inc.(f) | ||||
01/25/2033 | 3.057% | 3,676,000 | 3,044,387 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Goldman Sachs Group, Inc. (The)(f) | ||||
07/21/2032 | 2.383% | 3,310,000 | 2,646,253 | |
10/21/2032 | 2.650% | 3,570,000 | 2,889,795 | |
HSBC Holdings PLC(f) | ||||
05/24/2032 | 2.804% | 2,558,000 | 2,087,273 | |
JPMorgan Chase & Co.(f) | ||||
04/22/2032 | 2.580% | 6,920,000 | 5,694,727 | |
11/08/2032 | 2.545% | 1,694,000 | 1,371,733 | |
04/22/2035 | 5.766% | 1,624,000 | 1,627,059 | |
Morgan Stanley(f) | ||||
07/21/2032 | 2.239% | 2,729,000 | 2,168,743 | |
10/20/2032 | 2.511% | 4,593,000 | 3,694,052 | |
04/19/2035 | 5.831% | 1,744,000 | 1,744,918 | |
Subordinated | ||||
09/16/2036 | 2.484% | 1,265,000 | 976,788 | |
PNC Financial Services Group, Inc. (The)(f) | ||||
10/20/2034 | 6.875% | 418,000 | 443,913 | |
US Bancorp(f) | ||||
06/12/2034 | 5.836% | 830,000 | 819,721 | |
Wells Fargo & Co.(f) | ||||
10/30/2030 | 2.879% | 830,000 | 720,498 | |
07/25/2034 | 5.557% | 7,147,000 | 6,962,995 | |
Total | 47,920,734 | |||
Cable and Satellite 0.4% | ||||
Charter Communications Operating LLC/Capital | ||||
05/01/2047 | 5.375% | 610,000 | 467,141 | |
12/01/2061 | 4.400% | 3,550,000 | 2,197,801 | |
06/30/2062 | 3.950% | 1,301,000 | 739,752 | |
Total | 3,404,694 | |||
Construction Machinery 0.2% | ||||
John Deere Capital Corp. | ||||
07/14/2028 | 4.950% | 1,732,000 | 1,718,053 | |
Electric 1.2% | ||||
AEP Texas, Inc. | ||||
01/15/2050 | 3.450% | 1,400,000 | 913,744 | |
Duke Energy Corp. | ||||
09/01/2046 | 3.750% | 3,035,000 | 2,164,368 | |
08/15/2052 | 5.000% | 471,000 | 401,062 | |
Edison International | ||||
11/15/2028 | 5.250% | 1,658,000 | 1,624,464 | |
Emera US Finance LP | ||||
06/15/2046 | 4.750% | 1,869,000 | 1,459,400 | |
FirstEnergy Corp. | ||||
03/01/2050 | 3.400% | 532,000 | 341,438 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Pacific Gas and Electric Co. | ||||
07/01/2050 | 4.950% | 3,680,000 | 2,995,117 | |
Total | 9,899,593 | |||
Food and Beverage 1.5% | ||||
Bacardi Ltd.(a) | ||||
05/15/2048 | 5.300% | 3,330,000 | 2,947,225 | |
Bacardi Ltd./Bacardi-Martini BV(a) | ||||
06/15/2033 | 5.400% | 3,500,000 | 3,360,647 | |
Constellation Brands, Inc. | ||||
05/01/2033 | 4.900% | 2,843,000 | 2,682,338 | |
Diageo Capital PLC | ||||
10/05/2033 | 5.625% | 2,185,000 | 2,224,521 | |
Pepsico Singapore Financing I Pte Ltd. | ||||
02/16/2027 | 4.650% | 1,426,000 | 1,403,626 | |
Total | 12,618,357 | |||
Health Care 1.2% | ||||
CVS Health Corp. | ||||
07/20/2045 | 5.125% | 2,031,000 | 1,761,291 | |
03/25/2048 | 5.050% | 2,460,000 | 2,099,212 | |
GE HealthCare Technologies, Inc. | ||||
11/15/2027 | 5.650% | 586,000 | 588,950 | |
HCA, Inc. | ||||
09/01/2030 | 3.500% | 6,272,000 | 5,529,118 | |
Total | 9,978,571 | |||
Healthcare Insurance 1.8% | ||||
Aetna, Inc. | ||||
11/15/2042 | 4.125% | 357,000 | 275,862 | |
08/15/2047 | 3.875% | 285,000 | 204,199 | |
Centene Corp. | ||||
10/15/2030 | 3.000% | 8,880,000 | 7,436,727 | |
03/01/2031 | 2.500% | 1,358,000 | 1,091,715 | |
UnitedHealth Group, Inc. | ||||
04/15/2031 | 4.900% | 1,711,000 | 1,664,972 | |
04/15/2034 | 5.000% | 4,428,000 | 4,285,360 | |
Total | 14,958,835 | |||
Life Insurance 0.0% | ||||
Peachtree Corners Funding Trust(a) | ||||
02/15/2025 | 3.976% | 335,000 | 328,692 | |
Media and Entertainment 0.6% | ||||
Warnermedia Holdings, Inc. | ||||
03/15/2062 | 5.391% | 6,209,000 | 4,753,045 | |
Midstream 0.9% | ||||
Enbridge, Inc. | ||||
04/05/2027 | 5.250% | 1,905,000 | 1,890,513 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Kinder Morgan Energy Partners LP | ||||
09/01/2044 | 5.400% | 1,396,000 | 1,247,017 | |
Kinder Morgan, Inc. | ||||
02/15/2046 | 5.050% | 671,000 | 571,846 | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/15/2044 | 4.700% | 4,576,000 | 3,706,629 | |
Western Midstream Operating LP | ||||
01/15/2029 | 6.350% | 696,000 | 710,832 | |
Total | 8,126,837 | |||
Natural Gas 0.1% | ||||
NiSource, Inc. | ||||
05/01/2030 | 3.600% | 981,000 | 883,860 | |
Pharmaceuticals 1.3% | ||||
AbbVie, Inc. | ||||
03/15/2029 | 4.800% | 2,773,000 | 2,724,254 | |
Amgen, Inc. | ||||
03/02/2063 | 5.750% | 2,961,000 | 2,825,434 | |
Gilead Sciences, Inc. | ||||
03/01/2026 | 3.650% | 1,741,000 | 1,686,749 | |
Pfizer Investment Enterprises Pte., Ltd. | ||||
05/19/2033 | 4.750% | 4,002,000 | 3,815,776 | |
Total | 11,052,213 | |||
Retailers 0.4% | ||||
Lowe’s Companies, Inc. | ||||
04/01/2062 | 4.450% | 2,524,000 | 1,930,729 | |
09/15/2062 | 5.800% | 1,573,000 | 1,507,704 | |
Total | 3,438,433 | |||
Technology 0.5% | ||||
Broadcom, Inc.(a) | ||||
11/15/2036 | 3.187% | 3,417,000 | 2,620,936 | |
NXP BV/Funding LLC/USA, Inc. | ||||
05/01/2030 | 3.400% | 200,000 | 177,528 | |
01/15/2033 | 5.000% | 1,254,000 | 1,188,900 | |
Total | 3,987,364 | |||
Transportation Services 0.4% | ||||
ERAC USA Finance LLC(a) | ||||
05/01/2028 | 4.600% | 3,769,000 | 3,663,119 | |
Wireless 0.6% | ||||
T-Mobile US, Inc. | ||||
02/15/2031 | 2.875% | 6,066,000 | 5,146,506 | |
Total Corporate Bonds & Notes (Cost $167,721,212) | 157,155,008 | |||
Inflation-Indexed Bonds 1.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United States 1.5% | ||||
U.S. Treasury Inflation-Indexed Bond | ||||
04/15/2026 | 0.125% | 6,869,172 | 6,546,375 | |
10/15/2028 | 2.375% | 2,274,544 | 2,287,605 | |
02/15/2045 | 0.750% | 5,831,442 | 4,222,329 | |
Total | 13,056,309 | |||
Total Inflation-Indexed Bonds (Cost $13,340,809) | 13,056,309 | |||
Residential Mortgage-Backed Securities - Agency 40.6% | ||||
Fannie Mae REMICS(b),(g) | ||||
CMO Series 2023-46 Class SC | ||||
30-day Average SOFR + 5.886% Cap 6.000% 06/25/2050 | 0.556% | 10,899,510 | 930,100 | |
Federal Home Loan Mortgage Corp.(h) | ||||
06/01/2043 | 4.000% | 1,090,050 | 1,016,411 | |
05/01/2052 | 3.000% | 8,640,782 | 7,223,031 | |
Federal Home Loan Mortgage Corp. | ||||
09/01/2051 | 2.500% | 15,087,178 | 12,064,673 | |
02/01/2052 | 3.000% | 5,908,084 | 4,896,457 | |
08/01/2052 | 4.000% | 13,266,313 | 12,034,429 | |
08/01/2052- 02/01/2053 | 4.500% | 12,051,462 | 11,172,292 | |
09/01/2052 | 5.000% | 3,813,338 | 3,641,142 | |
Federal Home Loan Mortgage Corp.(b),(g) | ||||
CMO Series 4903 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 08/25/2049 | 0.606% | 1,765,404 | 153,809 | |
Federal Home Loan Mortgage Corp.(g) | ||||
CMO Series 5162 Class IA | ||||
11/25/2051 | 3.000% | 7,900,668 | 1,254,027 | |
Federal Home Loan Mortgage Corp. REMICS(b),(g) | ||||
CMO Series 5345 Class SE | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 01/15/2048 | 0.556% | 8,025,341 | 650,760 | |
Federal National Mortgage Association | ||||
08/01/2029- 09/01/2045 | 3.000% | 1,301,194 | 1,212,004 | |
05/01/2043- 05/01/2052 | 3.500% | 31,201,013 | 27,068,340 | |
02/01/2048- 08/01/2052 | 4.000% | 34,346,857 | 31,210,337 | |
01/01/2052 | 2.500% | 9,641,391 | 7,669,222 | |
09/01/2052- 09/01/2053 | 5.000% | 21,422,467 | 20,462,619 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Federal National Mortgage Association(h) | ||||
07/01/2038 | 6.000% | 490,041 | 496,087 | |
01/01/2040 | 5.500% | 566,731 | 564,248 | |
08/01/2040 | 4.500% | 945,687 | 888,151 | |
10/01/2042 | 3.000% | 1,377,409 | 1,184,178 | |
07/01/2045- 02/01/2046 | 3.500% | 1,662,471 | 1,467,439 | |
11/01/2045 | 4.000% | 487,874 | 443,210 | |
Federal National Mortgage Association(b),(g) | ||||
CMO Series 2016-53 Class KS | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 08/25/2046 | 0.556% | 649,055 | 58,371 | |
CMO Series 2016-57 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 08/25/2046 | 0.556% | 1,561,646 | 149,037 | |
CMO Series 2016-93 Class SL | ||||
-1.0 x 30-day Average SOFR + 6.536% Cap 6.650% 12/25/2046 | 1.206% | 1,978,530 | 125,366 | |
CMO Series 2017-109 Class SA | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 01/25/2048 | 0.706% | 736,707 | 82,287 | |
CMO Series 2017-20 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.986% Cap 6.100% 04/25/2047 | 0.656% | 662,993 | 64,800 | |
CMO Series 2017-54 Class SN | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 07/25/2047 | 0.706% | 1,355,507 | 147,842 | |
CMO Series 2018-66 Class SM | ||||
-1.0 x 30-day Average SOFR + 6.086% Cap 6.200% 09/25/2048 | 0.756% | 914,989 | 89,055 | |
CMO Series 2018-74 Class SA | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 10/25/2048 | 0.706% | 1,104,058 | 102,079 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2019-33 Class SB | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 07/25/2049 | 0.606% | 2,645,305 | 233,756 | |
CMO Series 2019-60 Class SH | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 10/25/2049 | 0.606% | 1,017,294 | 94,696 | |
CMO Series 2019-67 Class SE | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 11/25/2049 | 0.606% | 1,606,330 | 183,205 | |
Federal National Mortgage Association(g) | ||||
CMO Series 2021-3 Class TI | ||||
02/25/2051 | 2.500% | 10,965,688 | 1,806,735 | |
Federal National Mortgage Association REMICS(b),(g) | ||||
CMO Series 2017-108 Class SA | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 01/25/2048 | 0.706% | 11,233,068 | 1,181,645 | |
CMO Series 2019-73 Class SC | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 12/25/2049 | 0.606% | 17,744,713 | 1,742,355 | |
CMO Series 2020-39 Class MS | ||||
-1.0 x 30-day Average SOFR + 5.966% Cap 6.080% 06/25/2050 | 0.636% | 11,271,222 | 1,089,338 | |
Freddie Mac REMICS(g) | ||||
CMO Series 5152 Class XI | ||||
11/25/2050 | 2.500% | 14,289,412 | 1,716,847 | |
CMO Series 5287 Class NI | ||||
05/25/2051 | 3.500% | 7,106,644 | 1,326,412 | |
Government National Mortgage Association(b) | ||||
1-year CMT + 1.500% Cap 10.000% 04/20/2028 | 3.875% | 794 | 780 | |
Government National Mortgage Association(h) | ||||
04/20/2048 | 4.500% | 645,407 | 609,932 | |
Government National Mortgage Association(b),(g) | ||||
CMO Series 2017-112 Class SJ | ||||
-1.0 x 1-month Term SOFR + 5.546% Cap 5.660% 07/20/2047 | 0.230% | 2,304,523 | 148,259 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2017-130 Class HS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2047 | 0.770% | 793,659 | 62,507 | |
CMO Series 2017-149 Class BS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 10/20/2047 | 0.770% | 981,874 | 91,656 | |
CMO Series 2017-163 Class SA | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 11/20/2047 | 0.770% | 416,863 | 36,413 | |
CMO Series 2017-37 Class SB | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 03/20/2047 | 0.720% | 590,114 | 54,919 | |
CMO Series 2018-103 Class SA | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2048 | 0.770% | 564,553 | 51,509 | |
CMO Series 2018-112 Class LS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2048 | 0.770% | 715,296 | 64,115 | |
CMO Series 2018-125 Class SK | ||||
-1.0 x 1-month Term SOFR + 6.136% Cap 6.250% 09/20/2048 | 0.820% | 926,826 | 63,689 | |
CMO Series 2018-134 Class KS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 10/20/2048 | 0.770% | 752,027 | 64,955 | |
CMO Series 2018-148 Class SB | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 01/20/2048 | 0.770% | 1,397,881 | 133,663 | |
CMO Series 2018-151 Class SA | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 11/20/2048 | 0.720% | 1,198,204 | 105,643 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2018-89 Class MS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 06/20/2048 | 0.770% | 741,459 | 60,410 | |
CMO Series 2018-91 Class DS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 07/20/2048 | 0.770% | 792,018 | 67,417 | |
CMO Series 2019-20 Class JS | ||||
-1.0 x 1-month Term SOFR + 5.886% Cap 6.000% 02/20/2049 | 0.570% | 1,137,913 | 95,805 | |
CMO Series 2019-5 Class SH | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 01/20/2049 | 0.720% | 833,171 | 71,359 | |
CMO Series 2019-56 Class SG | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 05/20/2049 | 0.720% | 851,553 | 75,458 | |
CMO Series 2019-59 Class KS | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 05/20/2049 | 0.620% | 869,298 | 76,499 | |
CMO Series 2019-74 Class PS | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 06/20/2049 | 0.620% | 11,909,656 | 1,144,738 | |
CMO Series 2019-85 Class SC | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 07/20/2049 | 0.720% | 839,440 | 72,560 | |
CMO Series 2019-90 Class SD | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 07/20/2049 | 0.720% | 1,973,610 | 191,804 | |
CMO Series 2019-92 Class SD | ||||
-1.0 x 1-month Term SOFR + 5.986% Cap 6.100% 07/20/2049 | 0.670% | 4,775,696 | 437,473 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-11 Class LS | ||||
-1.0 x 1-month Term SOFR + 6.164% Cap 6.050% 01/20/2050 | 0.620% | 18,351,431 | 1,746,060 | |
CMO Series 2020-188 Class SA | ||||
-1.0 x 1-month Term SOFR + 6.186% Cap 6.300% 12/20/2050 | 0.870% | 10,557,337 | 1,137,781 | |
CMO Series 2020-21 Class VS | ||||
-1.0 x 1-month Term SOFR + 6.164% Cap 6.050% 02/20/2050 | 0.620% | 648,472 | 60,236 | |
CMO Series 2020-61 Class SW | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 08/20/2049 | 0.620% | 7,530,461 | 635,193 | |
CMO Series 2020-62 Class SG | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 05/20/2050 | 0.720% | 1,146,688 | 101,697 | |
CMO Series 2022-207 Class SA | ||||
-1.0 x 1-month Term SOFR + 5.886% Cap 6.000% 09/20/2049 | 0.570% | 28,861,768 | 2,747,857 | |
CMO Series 2022-207 Class SC | ||||
-1.0 x 1-month Term SOFR + 5.986% Cap 6.100% 01/20/2050 | 0.670% | 11,894,637 | 1,028,096 | |
CMO Series 2023-141 Class SN | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 04/20/2049 | 0.620% | 10,380,815 | 921,475 | |
CMO Series 2023-17 Class SY | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 05/20/2050 | 0.620% | 11,480,920 | 989,134 | |
CMO Series 2023-47 Class DS | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 09/20/2049 | 0.620% | 12,281,680 | 1,054,379 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2024-30 Class XH | ||||
-1.0 x 30-day Average SOFR + 5.850% Cap 5.850% 02/20/2054 | 0.520% | 9,972,736 | 718,589 | |
Government National Mortgage Association(g) | ||||
CMO Series 2020-164 Class CI | ||||
11/20/2050 | 3.000% | 6,604,281 | 1,048,146 | |
CMO Series 2020-175 Class KI | ||||
11/20/2050 | 2.500% | 18,753,667 | 2,529,830 | |
CMO Series 2020-191 Class UG | ||||
12/20/2050 | 3.500% | 6,698,647 | 1,164,032 | |
CMO Series 2021-119 Class QI | ||||
07/20/2051 | 3.000% | 7,659,418 | 1,210,301 | |
CMO Series 2021-139 Class IC | ||||
08/20/2051 | 3.000% | 17,690,148 | 2,956,576 | |
CMO Series 2021-16 Class KI | ||||
01/20/2051 | 2.500% | 8,949,061 | 1,207,359 | |
Government National Mortgage Association TBA(e) | ||||
05/20/2054 | 4.000% | 18,000,000 | 16,310,191 | |
05/20/2054 | 4.500% | 10,000,000 | 9,312,399 | |
Uniform Mortgage-Backed Security TBA(e) | ||||
05/15/2039- 05/13/2054 | 3.000% | 61,078,000 | 50,620,012 | |
05/15/2039- 05/13/2054 | 3.500% | 19,000,000 | 16,639,649 | |
05/15/2039- 05/13/2054 | 4.000% | 28,000,000 | 25,368,552 | |
05/13/2054 | 4.500% | 7,000,000 | 6,449,900 | |
05/13/2054 | 5.000% | 9,500,000 | 9,001,323 | |
05/13/2054 | 6.000% | 27,000,000 | 26,748,987 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $366,266,435) | 343,386,109 | |||
Residential Mortgage-Backed Securities - Non-Agency 24.1% | ||||
510 Asset Backed Trust(a),(c) | ||||
CMO Series 2021-NPL2 Class A1 | ||||
06/25/2061 | 2.116% | 2,009,026 | 1,952,456 | |
Angel Oak Mortgage Trust(a),(c) | ||||
CMO Series 2020-1 Class M1 | ||||
12/25/2059 | 3.161% | 3,000,000 | 2,588,115 | |
CMO Series 2020-3 Class A1 | ||||
04/25/2065 | 1.691% | 1,755,511 | 1,599,508 | |
CMO Series 2021-5 Class A2 | ||||
07/25/2066 | 1.208% | 3,831,964 | 3,165,745 | |
Angel Oak Mortgage Trust I LLC(a),(c) | ||||
CMO Series 2018-3 Class M1 | ||||
09/25/2048 | 4.421% | 397,853 | 392,208 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Arroyo Mortgage Trust(a),(c) | ||||
CMO Series 2019-2 Class A3 | ||||
04/25/2049 | 3.800% | 137,220 | 125,899 | |
Arroyo Mortgage Trust(a) | ||||
CMO Series 2020-1 Class M1 | ||||
03/25/2055 | 4.277% | 3,946,000 | 3,165,683 | |
Bellemeade Re Ltd.(a),(b) | ||||
CMO Series 2019-3A Class M1C | ||||
1-month Term SOFR + 2.064% Floor 1.950% 07/25/2029 | 7.381% | 1,026,837 | 1,027,719 | |
CMO Series 2022-1 Class M1A | ||||
30-day Average SOFR + 1.750% Floor 1.750% 01/26/2032 | 7.080% | 1,821,576 | 1,822,630 | |
BRAVO Residential Funding Trust(a),(c) | ||||
CMO Series 2020-NQM1 Class M1 | ||||
05/25/2060 | 3.181% | 2,500,000 | 2,290,452 | |
CMO Series 2020-RPL2 Class A1 | ||||
05/25/2059 | 2.000% | 1,593,152 | 1,427,927 | |
CMO Series 2021-A Class A1 | ||||
10/25/2059 | 4.991% | 2,376,682 | 2,310,118 | |
Bunker Hill Loan Depositary Trust(a),(c) | ||||
CMO Series 2019-3 Class A2 | ||||
11/25/2059 | 2.981% | 519,321 | 505,309 | |
CMO Series 2019-3 Class A3 | ||||
11/25/2059 | 3.135% | 756,724 | 736,304 | |
CMO Series 2020-1 Class A1 | ||||
02/25/2055 | 1.724% | 1,923,490 | 1,830,365 | |
BVRT Financing Trust(a),(b),(i) | ||||
CMO Series 2021-3F Class M2 | ||||
30-day Average SOFR + 2.900% Floor 2.900% 07/12/2033 | 4.187% | 4,914,317 | 4,914,317 | |
CHNGE Mortgage Trust(a),(c) | ||||
CMO Series 2022-1 Class A1 | ||||
01/25/2067 | 3.007% | 4,019,188 | 3,627,858 | |
CMO Series 2022-2 Class A1 | ||||
03/25/2067 | 3.757% | 3,535,529 | 3,255,609 | |
CMO Series 2022-3 Class A1 | ||||
05/25/2067 | 5.000% | 3,781,120 | 3,649,506 | |
CMO Series 2023-3 Class A1 | ||||
07/25/2058 | 7.100% | 4,394,383 | 4,391,093 | |
COLT Mortgage Loan Trust(a),(c) | ||||
CMO Series 2020-2 Class A2 | ||||
03/25/2065 | 3.094% | 331,336 | 319,646 | |
CMO Series 2021-3 Class A1 | ||||
09/27/2066 | 0.956% | 2,623,521 | 1,995,414 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2021-5 Class A2 | ||||
11/26/2066 | 2.606% | 4,270,000 | 2,987,355 | |
Connecticut Avenue Securities Trust(a),(b) | ||||
CMO Series 2022-R01 Class 1M2 | ||||
30-day Average SOFR + 1.900% 12/25/2041 | 7.230% | 2,650,000 | 2,676,046 | |
CMO Series 2022-R04 Class 1M2 | ||||
30-day Average SOFR + 3.100% 03/25/2042 | 8.430% | 4,000,000 | 4,161,711 | |
Credit Suisse Mortgage Trust(a),(c) | ||||
CMO Series 2021-NQM2 Class A2 | ||||
02/25/2066 | 1.384% | 2,969,496 | 2,542,360 | |
CMO Series 2021-RPL2 Class A1A | ||||
01/25/2060 | 1.115% | 2,902,984 | 2,344,454 | |
CSMC Trust(a),(c) | ||||
CMO Series 2020-RPL2 Class A12 | ||||
02/25/2060 | 3.561% | 771,325 | 780,731 | |
CMO Series 2020-RPL6 Class A1 | ||||
03/25/2059 | 3.415% | 7,982,859 | 7,872,873 | |
CMO Series 2021-NQM8 Class A1 | ||||
10/25/2066 | 1.841% | 3,426,855 | 2,862,400 | |
CMO Series 2022-NQM1 Class A3 | ||||
11/25/2066 | 2.675% | 3,038,605 | 2,480,656 | |
CMO Series 2022-RPL3 Class A1 | ||||
03/25/2061 | 3.613% | 3,545,631 | 3,519,204 | |
Subordinated CMO Series 2020-RPL3 Class A1 | ||||
03/25/2060 | 4.046% | 2,235,829 | 2,206,704 | |
Deephaven Residential Mortgage Trust(a),(c) | ||||
CMO Series 2021-1 Class A2 | ||||
05/25/2065 | 0.973% | 486,276 | 446,706 | |
Ellington Financial Mortgage Trust(a),(c) | ||||
CMO Series 2020-1 Class A3 | ||||
05/25/2065 | 3.999% | 550,000 | 509,528 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
CMO Series 2021-DNA3 Class M1 | ||||
30-day Average SOFR + 0.750% 10/25/2033 | 6.080% | 656,892 | 656,889 | |
CMO Series 2022-DNA1 Class M1B | ||||
30-day Average SOFR + 1.850% 01/25/2042 | 7.180% | 3,000,000 | 3,024,474 | |
Subordinated CMO Series 2022-DNA6 Class M1A | ||||
30-day Average SOFR + 2.150% 09/25/2042 | 7.480% | 1,729,996 | 1,750,540 | |
Freddie Mac Structured Agency Credit Risk Debt Notes(a),(b) | ||||
CMO Series 2022-DNA2 Class M1B | ||||
30-day Average SOFR + 2.400% 02/25/2042 | 7.730% | 3,800,000 | 3,876,940 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
FWD Securitization Trust(a),(c) | ||||
CMO Series 2020-INV1 Class M1 | ||||
01/25/2050 | 2.850% | 3,500,000 | 2,793,897 | |
GCAT LLC(a),(c) | ||||
CMO Series 2021-CM1 Class A1 | ||||
04/25/2065 | 1.469% | 2,071,343 | 1,892,957 | |
GCAT Trust(a),(c) | ||||
CMO Series 2021-CM2 Class A1 | ||||
08/25/2066 | 2.352% | 2,438,674 | 2,189,505 | |
CMO Series 2022-NQM2 Class A3 | ||||
02/25/2067 | 4.210% | 4,185,865 | 3,697,943 | |
GS Mortgage-Backed Securities Corp. Trust(a),(c) | ||||
CMO Series 2021-NQM1 Class A1 | ||||
07/25/2061 | 1.017% | 2,143,553 | 1,847,307 | |
Home Re Ltd.(a),(b) | ||||
Subordinated CMO Series 2022-1 Class M1A | ||||
30-day Average SOFR + 2.850% 10/25/2034 | 8.180% | 1,425,227 | 1,433,974 | |
Imperial Fund Mortgage Trust(a),(c) | ||||
CMO Series 2021-NQM4 Class A2 | ||||
01/25/2057 | 2.296% | 1,619,302 | 1,325,579 | |
Legacy Mortgage Asset Trust(a),(c) | ||||
CMO Series 2021-GS2 Class A1 | ||||
04/25/2061 | 1.750% | 1,818,874 | 1,756,815 | |
CMO Series 2021-SL2 Class A | ||||
10/25/2068 | 1.875% | 2,140,168 | 2,057,714 | |
Mello Mortgage Capital Acceptance(a),(c) | ||||
CMO Series 2024-SD1 Class A3 | ||||
04/25/2054 | 4.000% | 4,727,000 | 4,146,802 | |
MFA Trust(a),(c) | ||||
CMO Series 2020-NQM2 Class M1 | ||||
04/25/2065 | 3.034% | 3,500,000 | 2,885,993 | |
CMO Series 2020-NQM3 Class A1 | ||||
01/26/2065 | 1.014% | 3,782,548 | 3,470,398 | |
CMO Series 2020-NQM3 Class A2 | ||||
01/26/2065 | 1.324% | 1,513,022 | 1,387,595 | |
CMO Series 2020-NQM3 Class A3 | ||||
01/26/2065 | 1.632% | 1,134,766 | 1,043,557 | |
CMO Series 2021-INV2 Class A3 | ||||
11/25/2056 | 2.264% | 2,177,677 | 1,836,353 | |
MFRA Trust(a),(c) | ||||
CMO Series 2021-INV1 Class A2 | ||||
01/25/2056 | 1.057% | 219,845 | 202,664 | |
CMO Series 2021-INV1 Class A3 | ||||
01/25/2056 | 1.262% | 342,739 | 316,008 | |
New Residential Mortgage Loan Trust(a),(c) | ||||
CMO Series 2018-1A Class A1A | ||||
12/25/2057 | 4.000% | 5,378,834 | 5,007,018 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NRZ Excess Spread-Collateralized Notes(a) | ||||
Series 2020-PLS1 Class A | ||||
12/25/2025 | 3.844% | 2,311,062 | 2,218,041 | |
Oaktown Re III Ltd.(a),(b) | ||||
CMO Series 2019-1A Class M1B | ||||
30-day Average SOFR + 2.064% Floor 1.950% 07/25/2029 | 7.395% | 431,575 | 432,190 | |
PMT Credit Risk Transfer Trust(a),(b) | ||||
Series 2019-2R Class A | ||||
1-month Term SOFR + 3.864% Floor 3.750% 05/30/2025 | 9.183% | 367,207 | 367,943 | |
Preston Ridge Partners Mortgage Trust(a),(c) | ||||
CMO Series 2020-6 Class A1 | ||||
11/25/2025 | 5.363% | 6,468,693 | 6,354,558 | |
CMO Series 2021-2 Class A1 | ||||
03/25/2026 | 2.115% | 1,571,598 | 1,542,659 | |
CMO Series 2021-3 Class A1 | ||||
04/25/2026 | 1.867% | 1,317,597 | 1,277,719 | |
CMO Series 2021-8 Class A1 | ||||
09/25/2026 | 1.743% | 1,209,471 | 1,156,670 | |
Pretium Mortgage Credit Partners(a),(c) | ||||
CMO Series 2022-NPL1 Class A1 | ||||
01/25/2052 | 2.981% | 2,707,089 | 2,587,707 | |
PRKCM Trust(a),(c) | ||||
CMO Series 2021-AFC1 Class A3 | ||||
08/25/2056 | 2.069% | 4,920,332 | 3,865,023 | |
CMO Series 2021-AFC1 Class M1 | ||||
08/25/2056 | 3.114% | 4,516,000 | 2,727,249 | |
PRPM LLC(a),(c) | ||||
CMO Series 2021-RPL1 Class A1 | ||||
07/25/2051 | 1.319% | 3,325,264 | 2,952,266 | |
CMO Series 2023-RCF2 Class A2 | ||||
11/25/2053 | 4.000% | 2,557,000 | 2,302,844 | |
Residential Mortgage Loan Trust(a),(c) | ||||
CMO Series 2019-3 Class A3 | ||||
09/25/2059 | 3.044% | 11,028 | 10,742 | |
Stanwich Mortgage Loan Co. LLC(a),(c) | ||||
CMO Series 2021-NPB1 Class A1 | ||||
10/16/2026 | 2.735% | 1,824,018 | 1,751,168 | |
Starwood Mortgage Residential Trust(a),(c) | ||||
CMO Series 2019-INV1 Class A3 | ||||
09/27/2049 | 2.916% | 2,765,440 | 2,656,284 | |
CMO Series 2020-2 Class A3 | ||||
04/25/2060 | 3.000% | 3,985,507 | 3,906,519 | |
CMO Series 2020-3 Class A3 | ||||
04/25/2065 | 2.591% | 5,000,000 | 4,153,203 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-3 Class M1 | ||||
04/25/2065 | 3.544% | 2,800,000 | 2,304,472 | |
CMO Series 2020-INV1 Class A2 | ||||
11/25/2055 | 1.439% | 2,794,322 | 2,568,715 | |
CMO Series 2020-INV1 Class A3 | ||||
11/25/2055 | 1.593% | 1,057,674 | 972,449 | |
CMO Series 2021-3 Class A1 | ||||
06/25/2056 | 1.127% | 797,323 | 635,426 | |
Towd Point Mortgage Trust(a),(c) | ||||
CMO Series 2019-4 Class M1B | ||||
10/25/2059 | 3.000% | 10,000,000 | 7,969,705 | |
TRK Trust(a),(c) | ||||
CMO Series 2021-INV2 Class A1 | ||||
11/25/2056 | 1.966% | 5,139,028 | 4,240,969 | |
Vendee Mortgage Trust(c),(g) | ||||
CMO Series 1998-1 Class 2IO | ||||
03/15/2028 | 0.000% | 325,410 | 0 | |
CMO Series 1998-3 Class IO | ||||
03/15/2029 | 0.000% | 412,494 | 0 | |
Verus Securitization Trust(a),(c) | ||||
CMO Series 2019-INV3 Class A3 | ||||
11/25/2059 | 3.100% | 215,189 | 208,167 | |
CMO Series 2020-1 Class A3 | ||||
01/25/2060 | 2.724% | 659,648 | 617,588 | |
CMO Series 2020-4 Class A3 | ||||
05/25/2065 | 2.321% | 1,054,694 | 994,668 | |
CMO Series 2021-4 Class A2 | ||||
07/25/2066 | 1.247% | 3,705,621 | 2,966,227 | |
Verus Securitization Trust(a) | ||||
CMO Series 2020-INV1 Class A2 | ||||
03/25/2060 | 3.035% | 4,000,000 | 3,930,059 | |
CMO Series 2020-INV1 Class A3 | ||||
03/25/2060 | 3.889% | 2,800,000 | 2,716,970 | |
Visio Trust(a) | ||||
CMO Series 2020-1R Class A3 | ||||
11/25/2055 | 1.873% | 1,042,773 | 963,565 | |
CMO Series 2021-1R Class A1 | ||||
05/25/2056 | 1.280% | 1,914,347 | 1,701,576 | |
Total Residential Mortgage-Backed Securities - Non-Agency (Cost $221,983,783) | 204,138,872 |
Call Option Contracts Purchased 0.1% | ||||
Value ($) | ||||
(Cost $1,099,500) | 447,235 | |||
Put Option Contracts Purchased 0.1% | ||||
(Cost $381,900) | 650,155 |
Money Market Funds 4.8% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.485%(j),(k) | 40,633,707 | 40,621,517 |
Total Money Market Funds (Cost $40,617,125) | 40,621,517 | |
Total Investments in Securities (Cost: $1,064,138,261) | 1,005,729,250 | |
Other Assets & Liabilities, Net | (159,876,757 ) | |
Net Assets | 845,852,493 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 2-Year Note | 982 | 06/2024 | USD | 199,008,438 | — | (1,008,607 ) |
U.S. Treasury 5-Year Note | 300 | 06/2024 | USD | 31,422,656 | — | (72,920 ) |
U.S. Treasury Ultra Bond | 37 | 06/2024 | USD | 4,423,813 | — | (302,578 ) |
Total | — | (1,384,105 ) |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Long Bond | (157) | 06/2024 | USD | (17,868,563 ) | 827,585 | — |
U.S. Treasury 10-Year Note | (61) | 06/2024 | USD | (6,553,688 ) | 14,196 | — |
Total | 841,781 | — |
Call option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive exercise rate and pay SOFR | Citi | USD | 10,000,000 | 10,000,000 | 3.80 | 04/10/2025 | 307,000 | 184,450 |
10-Year OTC interest rate swap with Morgan Stanley to receive exercise rate and pay SOFR | Morgan Stanley | USD | 25,000,000 | 25,000,000 | 3.75 | 11/29/2024 | 792,500 | 262,785 |
Total | 1,099,500 | 447,235 |
Put option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive SOFR and pay exercise rate | Citi | USD | 5,000,000 | 5,000,000 | 4.50 | 04/25/2025 | 122,750 | 115,235 |
5-Year OTC interest rate swap with Citi to receive SOFR and pay exercise rate | Citi | USD | 50,000,000 | 50,000,000 | 4.50 | 10/07/2024 | 259,150 | 534,920 |
Total | 381,900 | 650,155 |
(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 April 30, 2024, the total value of these securities amounted to $454,763,902, which represents 53.76% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of April 30, 2024. |
(c) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of April 30, 2024. |
(d) | Non-income producing investment. |
(e) | Represents a security purchased on a when-issued basis. |
(f) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of April 30, 2024. |
(g) | Represents interest only securities which have the right to receive the monthly interest payments on an underlying pool of mortgage loans. |
(h) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(i) | Valuation based on significant unobservable inputs. |
(j) | The rate shown is the seven-day current annualized yield at April 30, 2024. |
(k) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.485% | ||||||||
92,910,208 | 406,151,355 | (458,444,277 ) | 4,231 | 40,621,517 | 418 | 2,746,174 | 40,633,707 |
CMO | Collateralized Mortgage Obligation |
CMT | Constant Maturity Treasury |
SOFR | Secured Overnight Financing Rate |
TBA | To Be Announced |
USD | US Dollar |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Asset-Backed Securities - Non-Agency | — | 177,864,648 | — | 177,864,648 |
Commercial Mortgage-Backed Securities - Agency | — | 940,130 | — | 940,130 |
Commercial Mortgage-Backed Securities - Non-Agency | — | 67,467,480 | — | 67,467,480 |
Common Stocks | ||||
Consumer Staples | — | 19 | — | 19 |
Energy | 89 | — | — | 89 |
Financials | 1,679 | — | — | 1,679 |
Total Common Stocks | 1,768 | 19 | — | 1,787 |
Corporate Bonds & Notes | — | 157,155,008 | — | 157,155,008 |
Inflation-Indexed Bonds | — | 13,056,309 | — | 13,056,309 |
Residential Mortgage-Backed Securities - Agency | — | 343,386,109 | — | 343,386,109 |
Residential Mortgage-Backed Securities - Non-Agency | — | 199,224,555 | 4,914,317 | 204,138,872 |
Call Option Contracts Purchased | — | 447,235 | — | 447,235 |
Put Option Contracts Purchased | — | 650,155 | — | 650,155 |
Money Market Funds | 40,621,517 | — | — | 40,621,517 |
Total Investments in Securities | 40,623,285 | 960,191,648 | 4,914,317 | 1,005,729,250 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 841,781 | — | — | 841,781 |
Liability | ||||
Futures Contracts | (1,384,105 ) | — | — | (1,384,105 ) |
Total | 40,080,961 | 960,191,648 | 4,914,317 | 1,005,186,926 |
Balance as of 04/30/2023 ($) | Increase (decrease) in accrued discounts/ premiums ($) | Realized gain (loss) ($) | Change in unrealized appreciation (depreciation) ($) | Purchases ($) | Sales ($) | Transfers into Level 3 ($) | Transfers out of Level 3 ($) | Balance as of 04/30/2024 ($) | |
Asset-Backed Securities — Non-Agency | 1,995,000 | - | - | - | - | - | - | (1,995,000 ) | - |
Residential Mortgage-Backed Securities — Non-Agency | 9,051,066 | - | - | 13,887 | - | (4,150,636 ) | - | - | 4,914,317 |
Total | 11,046,066 | - | - | 13,887 | - | (4,150,636 ) | - | (1,995,000 ) | 4,914,317 |
Valuation Technique | Value ($) | |
Residential Mortgage-Backed Securities - Non-Agency | Single Market Quotes from Broker | 4,914,317 |
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,022,039,736) | $964,010,343 |
Affiliated issuers (cost $40,617,125) | 40,621,517 |
Option contracts purchased (cost $1,481,400) | 1,097,390 |
Cash | 377,000 |
Cash collateral held at broker for: | |
TBA | 2,970,424 |
Receivable for: | |
Capital shares sold | 3,134,819 |
Dividends | 218,368 |
Interest | 4,017,273 |
Variation margin for futures contracts | 154,109 |
Expense reimbursement due from Investment Manager | 3,246 |
Prepaid expenses | 5,720 |
Deferred compensation of board members | 221,464 |
Total assets | 1,016,831,673 |
Liabilities | |
Payable for: | |
Investments purchased | 327,109 |
Investments purchased on a delayed delivery basis | 164,820,650 |
Capital shares redeemed | 1,875,500 |
Distributions to shareholders | 3,188,294 |
Variation margin for futures contracts | 419,812 |
Management services fees | 11,546 |
Distribution and/or service fees | 597 |
Transfer agent fees | 16,227 |
Compensation of board members | 841 |
Other expenses | 20,355 |
Deferred compensation of board members | 298,249 |
Total liabilities | 170,979,180 |
Net assets applicable to outstanding capital stock | $845,852,493 |
Represented by | |
Paid in capital | 1,067,638,324 |
Total distributable earnings (loss) | (221,785,831 ) |
Total - representing net assets applicable to outstanding capital stock | $845,852,493 |
Class A | |
Net assets | $87,323,969 |
Shares outstanding | 3,074,625 |
Net asset value per share | $28.40 |
Maximum sales charge | 4.75% |
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) | $29.82 |
Advisor Class | |
Net assets | $1,157,084 |
Shares outstanding | 40,791 |
Net asset value per share | $28.37 |
Institutional Class | |
Net assets | $66,224,582 |
Shares outstanding | 2,331,938 |
Net asset value per share | $28.40 |
Institutional 2 Class | |
Net assets | $28,277,130 |
Shares outstanding | 998,317 |
Net asset value per share | $28.32 |
Institutional 3 Class | |
Net assets | $662,869,728 |
Shares outstanding | 23,290,942 |
Net asset value per share | $28.46 |
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $55 |
Dividends — affiliated issuers | 2,746,174 |
Interest | 42,107,742 |
Interfund lending | 4,091 |
Foreign taxes withheld | (2,066 ) |
Total income | 44,855,996 |
Expenses: | |
Management services fees | 4,564,504 |
Distribution and/or service fees | |
Class A | 203,553 |
Class C | 34,381 |
Class R | 1,152 |
Class V | 4,743 |
Transfer agent fees | |
Class A | 95,228 |
Advisor Class | 1,353 |
Class C | 4,043 |
Institutional Class | 93,285 |
Institutional 2 Class | 13,851 |
Institutional 3 Class | 40,120 |
Class R | 272 |
Class V | 3,841 |
Custodian fees | 32,637 |
Printing and postage fees | 33,017 |
Registration fees | 106,543 |
Accounting services fees | 41,499 |
Legal fees | 22,719 |
Interest on collateral | 23,980 |
Compensation of chief compliance officer | 173 |
Compensation of board members | 21,400 |
Deferred compensation of board members | 18,917 |
Other | 26,657 |
Total expenses | 5,387,868 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,331,617 ) |
Fees waived by transfer agent | |
Institutional 2 Class | (534 ) |
Institutional 3 Class | (13,855 ) |
Expense reduction | (731 ) |
Total net expenses | 4,041,131 |
Net investment income | 40,814,865 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (26,184,621 ) |
Investments — affiliated issuers | 418 |
Futures contracts | (10,379,901 ) |
Option contracts purchased | (551,660 ) |
Option contracts written | 60,195 |
Net realized loss | (37,055,569 ) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 1,664,812 |
Investments — affiliated issuers | 4,231 |
Futures contracts | (8,712,368 ) |
Option contracts purchased | 354,524 |
Net change in unrealized appreciation (depreciation) | (6,688,801 ) |
Net realized and unrealized loss | (43,744,370 ) |
Net decrease in net assets resulting from operations | $(2,929,505 ) |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $40,814,865 | $31,854,281 |
Net realized loss | (37,055,569 ) | (83,187,911 ) |
Net change in unrealized appreciation (depreciation) | (6,688,801 ) | 32,270,579 |
Net decrease in net assets resulting from operations | (2,929,505 ) | (19,063,051 ) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (3,410,555 ) | (2,382,407 ) |
Advisor Class | (51,277 ) | (67,054 ) |
Class C | (118,311 ) | (91,492 ) |
Institutional Class | (3,509,174 ) | (2,168,440 ) |
Institutional 2 Class | (1,100,547 ) | (435,234 ) |
Institutional 3 Class | (32,878,457 ) | (26,451,528 ) |
Class R | (9,099 ) | (8,241 ) |
Class V | (136,223 ) | (181,843 ) |
Total distributions to shareholders | (41,213,643 ) | (31,786,239 ) |
Decrease in net assets from capital stock activity | (73,267,843 ) | (7,025,916 ) |
Total decrease in net assets | (117,410,991 ) | (57,875,206 ) |
Net assets at beginning of year | 963,263,484 | 1,021,138,690 |
Net assets at end of year | $845,852,493 | $963,263,484 |
Year Ended | Year Ended | |||
April 30, 2024 | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 953,801 | 27,481,020 | 507,815 | 15,160,104 |
Distributions reinvested | 103,547 | 2,982,364 | 69,426 | 2,051,769 |
Shares redeemed | (615,341 ) | (17,676,807 ) | (534,726 ) | (15,947,139 ) |
Net increase | 442,007 | 12,786,577 | 42,515 | 1,264,734 |
Advisor Class | ||||
Shares sold | 12,809 | 372,143 | 6,582 | 193,361 |
Distributions reinvested | 1,770 | 50,909 | 2,248 | 66,756 |
Shares redeemed | (12,977 ) | (374,474 ) | (80,530 ) | (2,318,622 ) |
Net increase (decrease) | 1,602 | 48,578 | (71,700 ) | (2,058,505 ) |
Class C | ||||
Shares sold | 41,836 | 1,210,104 | 27,540 | 810,763 |
Distributions reinvested | 3,776 | 108,636 | 2,893 | 85,203 |
Shares redeemed | (165,970 ) | (4,755,377 ) | (67,225 ) | (2,016,973 ) |
Net decrease | (120,358 ) | (3,436,637 ) | (36,792 ) | (1,121,007 ) |
Institutional Class | ||||
Shares sold | 1,128,798 | 32,693,971 | 1,502,427 | 44,900,228 |
Distributions reinvested | 113,015 | 3,254,566 | 66,293 | 1,961,422 |
Shares redeemed | (1,927,920 ) | (55,039,087 ) | (982,374 ) | (29,580,684 ) |
Net increase (decrease) | (686,107 ) | (19,090,550 ) | 586,346 | 17,280,966 |
Institutional 2 Class | ||||
Shares sold | 811,991 | 23,579,785 | 871,494 | 25,807,130 |
Distributions reinvested | 38,261 | 1,100,349 | 14,730 | 435,234 |
Shares redeemed | (913,447 ) | (26,211,008 ) | (210,527 ) | (6,176,709 ) |
Net increase (decrease) | (63,195 ) | (1,530,874 ) | 675,697 | 20,065,655 |
Institutional 3 Class | ||||
Shares sold | 3,968,117 | 115,627,851 | 982,696 | 29,129,632 |
Distributions reinvested | 669,145 | 19,287,823 | 552,905 | 16,392,158 |
Shares redeemed | (6,575,880 ) | (191,397,936 ) | (2,902,845 ) | (87,494,983 ) |
Net decrease | (1,938,618 ) | (56,482,262 ) | (1,367,244 ) | (41,973,193 ) |
Class R | ||||
Shares sold | 1,980 | 57,285 | 2,294 | 68,770 |
Distributions reinvested | 302 | 8,698 | 277 | 8,168 |
Shares redeemed | (10,602 ) | (307,947 ) | (5,160 ) | (152,998 ) |
Net decrease | (8,320 ) | (241,964 ) | (2,589 ) | (76,060 ) |
Class V | ||||
Shares sold | 769 | 22,313 | 1,455 | 43,393 |
Distributions reinvested | 3,312 | 94,239 | 4,356 | 128,524 |
Shares redeemed | (189,742 ) | (5,437,263 ) | (19,519 ) | (580,423 ) |
Net decrease | (185,661 ) | (5,320,711 ) | (13,708 ) | (408,506 ) |
Total net decrease | (2,558,650 ) | (73,267,843 ) | (187,475 ) | (7,025,916 ) |
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 4/30/2024 | $29.78 | 1.20 | (1.36 ) | (0.16 ) | (1.22 ) | — | (1.22 ) |
Year Ended 4/30/2023 | $31.39 | 0.93 | (1.62 ) | (0.69 ) | (0.92 ) | — | (0.92 ) |
Year Ended 4/30/2022 | $35.38 | 0.50 | (4.00 ) | (3.50 ) | (0.49 ) | — | (0.49 ) |
Year Ended 4/30/2021(e) | $34.88 | 0.69 | 1.39 | 2.08 | (0.72 ) | (0.86 ) | (1.58 ) |
Year Ended 4/30/2020(e) | $33.84 | 0.88 | 1.48 | 2.36 | (0.88 ) | (0.44 ) | (1.32 ) |
Advisor Class | |||||||
Year Ended 4/30/2024 | $29.74 | 1.27 | (1.35 ) | (0.08 ) | (1.29 ) | — | (1.29 ) |
Year Ended 4/30/2023 | $31.34 | 0.94 | (1.54 ) | (0.60 ) | (1.00 ) | — | (1.00 ) |
Year Ended 4/30/2022 | $35.33 | 0.58 | (4.00 ) | (3.42 ) | (0.57 ) | — | (0.57 ) |
Year Ended 4/30/2021(e) | $34.83 | 0.79 | 1.38 | 2.17 | (0.81 ) | (0.86 ) | (1.67 ) |
Year Ended 4/30/2020(e) | $33.80 | 0.96 | 1.47 | 2.43 | (0.96 ) | (0.44 ) | (1.40 ) |
Institutional Class | |||||||
Year Ended 4/30/2024 | $29.78 | 1.27 | (1.36 ) | (0.09 ) | (1.29 ) | — | (1.29 ) |
Year Ended 4/30/2023 | $31.38 | 1.01 | (1.61 ) | (0.60 ) | (1.00 ) | — | (1.00 ) |
Year Ended 4/30/2022 | $35.37 | 0.59 | (4.01 ) | (3.42 ) | (0.57 ) | — | (0.57 ) |
Year Ended 4/30/2021(e) | $34.88 | 0.78 | 1.38 | 2.16 | (0.81 ) | (0.86 ) | (1.67 ) |
Year Ended 4/30/2020(e) | $33.83 | 0.96 | 1.49 | 2.45 | (0.96 ) | (0.44 ) | (1.40 ) |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $29.70 | 1.29 | (1.37 ) | (0.08 ) | (1.30 ) | — | (1.30 ) |
Year Ended 4/30/2023 | $31.30 | 1.06 | (1.64 ) | (0.58 ) | (1.02 ) | — | (1.02 ) |
Year Ended 4/30/2022 | $35.28 | 0.61 | (3.99 ) | (3.38 ) | (0.60 ) | — | (0.60 ) |
Year Ended 4/30/2021(e) | $34.78 | 0.80 | 1.39 | 2.19 | (0.83 ) | (0.86 ) | (1.69 ) |
Year Ended 4/30/2020(e) | $33.74 | 1.00 | 1.48 | 2.48 | (1.00 ) | (0.44 ) | (1.44 ) |
Institutional 3 Class | |||||||
Year Ended 4/30/2024 | $29.84 | 1.31 | (1.37 ) | (0.06 ) | (1.32 ) | — | (1.32 ) |
Year Ended 4/30/2023 | $31.45 | 1.04 | (1.61 ) | (0.57 ) | (1.04 ) | — | (1.04 ) |
Year Ended 4/30/2022 | $35.45 | 0.63 | (4.01 ) | (3.38 ) | (0.62 ) | — | (0.62 ) |
Year Ended 4/30/2021(e) | $34.95 | 0.79 | 1.42 | 2.21 | (0.85 ) | (0.86 ) | (1.71 ) |
Year Ended 4/30/2020(e) | $33.90 | 1.00 | 1.53 | 2.53 | (1.04 ) | (0.44 ) | (1.48 ) |
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) | Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
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 4/30/2024 | $28.40 | (0.53% ) | 0.90% (c) | 0.75% (c),(d) | 4.15% | 262% | $87,324 |
Year Ended 4/30/2023 | $29.78 | (2.12% ) | 0.91% (c) | 0.77% (c),(d) | 3.10% | 260% | $78,406 |
Year Ended 4/30/2022 | $31.39 | (10.02% ) | 0.90% (c) | 0.77% (c),(d) | 1.44% | 224% | $81,291 |
Year Ended 4/30/2021 (e) | $35.38 | 5.96% | 0.91% (c) | 0.77% (c),(d) | 1.92% | 227% | $99,681 |
Year Ended 4/30/2020 (e) | $34.88 | 7.05% | 0.97% | 0.80% (d) | 2.50% | 229% | $75,375 |
Advisor Class | |||||||
Year Ended 4/30/2024 | $28.37 | (0.25% ) | 0.65% (c) | 0.50% (c),(d) | 4.40% | 262% | $1,157 |
Year Ended 4/30/2023 | $29.74 | (1.85% ) | 0.66% (c) | 0.52% (c),(d) | 3.11% | 260% | $1,166 |
Year Ended 4/30/2022 | $31.34 | (9.81% ) | 0.65% (c) | 0.52% (c),(d) | 1.70% | 224% | $3,475 |
Year Ended 4/30/2021 (e) | $35.33 | 6.20% | 0.66% (c) | 0.52% (c),(d) | 2.19% | 227% | $2,123 |
Year Ended 4/30/2020 (e) | $34.83 | 7.32% | 0.71% | 0.55% (d) | 2.74% | 229% | $1,676 |
Institutional Class | |||||||
Year Ended 4/30/2024 | $28.40 | (0.28% ) | 0.65% (c) | 0.50% (c),(d) | 4.39% | 262% | $66,225 |
Year Ended 4/30/2023 | $29.78 | (1.84% ) | 0.66% (c) | 0.52% (c),(d) | 3.37% | 260% | $89,875 |
Year Ended 4/30/2022 | $31.38 | (9.80% ) | 0.65% (c) | 0.52% (c),(d) | 1.69% | 224% | $76,311 |
Year Ended 4/30/2021 (e) | $35.37 | 6.19% | 0.66% (c) | 0.52% (c),(d) | 2.18% | 227% | $80,542 |
Year Ended 4/30/2020 (e) | $34.88 | 7.32% | 0.72% | 0.55% (d) | 2.76% | 229% | $68,640 |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $28.32 | (0.23% ) | 0.59% (c) | 0.44% (c) | 4.45% | 262% | $28,277 |
Year Ended 4/30/2023 | $29.70 | (1.78% ) | 0.59% (c) | 0.45% (c) | 3.58% | 260% | $31,528 |
Year Ended 4/30/2022 | $31.30 | (9.74% ) | 0.58% (c) | 0.45% (c) | 1.76% | 224% | $12,075 |
Year Ended 4/30/2021 (e) | $35.28 | 6.24% | 0.60% (c) | 0.45% (c) | 2.23% | 227% | $10,058 |
Year Ended 4/30/2020 (e) | $34.78 | 7.55% | 0.62% | 0.46% | 2.83% | 229% | $6,038 |
Institutional 3 Class | |||||||
Year Ended 4/30/2024 | $28.46 | (0.16% ) | 0.54% (c) | 0.39% (c) | 4.51% | 262% | $662,870 |
Year Ended 4/30/2023 | $29.84 | (1.74% ) | 0.54% (c) | 0.40% (c) | 3.47% | 260% | $752,943 |
Year Ended 4/30/2022 | $31.45 | (9.70% ) | 0.53% (c) | 0.40% (c) | 1.81% | 224% | $836,474 |
Year Ended 4/30/2021 (e) | $35.45 | 6.31% | 0.55% (c) | 0.40% (c) | 2.22% | 227% | $925,195 |
Year Ended 4/30/2020 (e) | $34.95 | 7.47% | 0.57% | 0.40% | 2.91% | 229% | $265,665 |
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 841,781 * |
Interest rate risk | Investments, at value — Option contracts purchased | 1,097,390 |
Total | 1,939,171 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 1,384,105 * |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | ||||
Risk exposure category | Futures contracts ($) | Option contracts purchased ($) | Option contracts written ($) | Total ($) |
Interest rate risk | (10,379,901 ) | (551,660 ) | 60,195 | (10,871,366 ) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |||
Risk exposure category | Futures contracts ($) | Option contracts purchased ($) | Total ($) |
Interest rate risk | (8,712,368 ) | 354,524 | (8,357,844 ) |
Derivative instrument | Average notional amounts ($) |
Futures contracts — long | 233,993,701 |
Futures contracts — short | 37,844,916 |
Derivative instrument | Average value ($) |
Option contracts purchased | 497,601 |
Option contracts written | (38,219 ) |
Citi ($) | Morgan Stanley ($) | Total ($) | |
Assets | |||
Call option contracts purchased | 184,450 | 262,785 | 447,235 |
Put option contracts purchased | 650,155 | - | 650,155 |
Total assets | 834,605 | 262,785 | 1,097,390 |
Total financial and derivative net assets | 834,605 | 262,785 | 1,097,390 |
Total collateral received (pledged) (a) | 659,000 | 262,785 | 921,785 |
Net amount (b) | 175,605 | - | 175,605 |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.11 (a) |
Institutional Class | 0.12 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Class R | 0.12 (a) |
Class V | 0.07 (a) |
(a) | Unannualized. |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 4.75 | 0.50 - 1.00 (a) | 93,040 |
Class C | — | 1.00 (b) | 114 |
Class V | — | 0.50 - 1.00 (a) | 24 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2023 through August 31, 2024 | Prior to September 1, 2023 | |
Class A | 0.74 % | 0.77 % |
Advisor Class | 0.49 | 0.52 |
Institutional Class | 0.49 | 0.52 |
Institutional 2 Class | 0.44 | 0.45 |
Institutional 3 Class | 0.39 | 0.40 |
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
129,617 | (129,617 ) | — |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
41,213,643 | — | 41,213,643 | 31,786,239 | — | 31,786,239 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
3,418,186 | — | (163,017,101 ) | (58,700,372 ) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
1,063,887,298 | 5,278,965 | (63,979,337 ) | (58,700,372 ) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(75,862,130 ) | (87,154,971 ) | (163,017,101 ) | — |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 3,187,500 | 5.73 | 8 |
Section 163(j) Interest Dividends | |
99.93% |
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 and other relevant Board experience |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 161 | 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; former Board Member, Chase Bank International, 1993-1994 |
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 and other relevant Board experience |
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; Trustee of Gerald Rauenhorst 1982 Trusts, since 2020; 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-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 161 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (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; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; 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, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 161 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee, since 2017 and Audit Committee Chair, since November 2023); Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services company), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
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 | 161 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, January 2020-December 2023; Adjunct Professor of Finance, Bentley University January 2018-April 2023; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; 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 | 159 | Former Director, The Autism Project, March 2015-December 2021; 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 (former mutual fund complex), January 2015-December 2017 |
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 and other relevant Board experience |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | 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; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 159 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor Emeritus of Economics and Management, Bentley University, since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 161 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 |
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 | 161 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | 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 | 161 | Director, SpartanNash Company (food distributor), since November 2013 (Chair of the Board, since May 2021); Director, Aircastle Limited (aircraft leasing), since August 2006 (Chair of Audit Committee); 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 | 159 | None |
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 and other relevant Board experience |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 161 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates, January 2013-December 2015 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | 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. | 161 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 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 | 159 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. 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 | 161 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, June 2022-June 2023 |
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 and other relevant Board experience |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 | 161 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds 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, Beckman, Gallagher, Hacker and Moffett and Mses. Blatz, Carlton, Carrig, Flynn, Paglia, and Yeager serve as directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | 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. |
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009); Senior Vice President (2019); Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2024) for CFST, CFST I, CFST II, CFVIT and CFVST II | Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations, March 2022 – June 2023, Vice President, Head of North America Operations, and Co-Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. Director, Ameriprise Trust Company, since June 2023. |
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 |
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. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 - 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, TAM UK International Holdings Limited, since July 2021; formerly Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, March 2013 – December 2022 and December 2008 – December 2022, respectively; senior executive of various entities affiliated with Columbia Threadneedle Investments. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
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; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
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; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
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Average annual total returns (%) (for the period ended April 30, 2024) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 07/25/86 | 18.34 | 9.18 | 7.78 |
Including sales charges | 11.54 | 7.90 | 7.15 | ||
Advisor Class | 11/08/12 | 18.62 | 9.45 | 8.06 | |
Class C | Excluding sales charges | 01/15/96 | 17.41 | 8.36 | 6.98 |
Including sales charges | 16.41 | 8.36 | 6.98 | ||
Institutional Class | 07/31/95 | 18.60 | 9.45 | 8.05 | |
Institutional 2 Class | 11/08/12 | 18.74 | 9.56 | 8.19 | |
Institutional 3 Class | 07/15/09 | 18.81 | 9.63 | 8.24 | |
Class R | 09/27/10 | 18.01 | 8.91 | 7.51 | |
Russell 2000 Value Index | 14.03 | 5.96 | 6.45 |
Portfolio breakdown (%) (at April 30, 2024) | |
Common Stocks | 99.8 |
Money Market Funds | 0.2 |
Total | 100.0 |
Equity sector breakdown (%) (at April 30, 2024) | |
Communication Services | 3.0 |
Consumer Discretionary | 14.8 |
Consumer Staples | 2.2 |
Energy | 7.5 |
Financials | 17.8 |
Health Care | 8.1 |
Industrials | 16.0 |
Information Technology | 9.8 |
Materials | 10.1 |
Real Estate | 5.8 |
Utilities | 4.9 |
Total | 100.0 |
November 1, 2023 — April 30, 2024 | |||||||
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 | 1,185.90 | 1,018.65 | 6.79 | 6.27 | 1.25 |
Advisor Class | 1,000.00 | 1,000.00 | 1,187.40 | 1,019.89 | 5.44 | 5.02 | 1.00 |
Class C | 1,000.00 | 1,000.00 | 1,181.30 | 1,014.92 | 10.85 | 10.02 | 2.00 |
Institutional Class | 1,000.00 | 1,000.00 | 1,187.30 | 1,019.89 | 5.44 | 5.02 | 1.00 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,188.00 | 1,020.34 | 4.95 | 4.57 | 0.91 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,188.30 | 1,020.59 | 4.68 | 4.32 | 0.86 |
Class R | 1,000.00 | 1,000.00 | 1,184.40 | 1,017.40 | 8.15 | 7.52 | 1.50 |
Common Stocks 98.7% | ||
Issuer | Shares | Value ($) |
Communication Services 3.0% | ||
Diversified Telecommunication Services 0.3% | ||
Bandwidth, Inc., Class A(a) | 197,500 | 3,594,500 |
Entertainment 0.7% | ||
Gaia, Inc.(a),(b) | 686,949 | 2,658,493 |
IMAX Corp.(a) | 276,540 | 4,427,405 |
Playstudios, Inc.(a) | 1,199,954 | 2,591,901 |
Total | 9,677,799 | |
Interactive Media & Services 0.7% | ||
Bumble, Inc., Class A(a) | 476,550 | 4,813,155 |
Shutterstock, Inc. | 115,190 | 4,919,765 |
Total | 9,732,920 | |
Media 0.4% | ||
Innovid Corp.(a) | 2,813,654 | 6,330,721 |
Wireless Telecommunication Services 0.9% | ||
Telephone and Data Systems, Inc. | 430,011 | 6,729,672 |
United States Cellular Corp.(a) | 143,215 | 5,207,298 |
Total | 11,936,970 | |
Total Communication Services | 41,272,910 | |
Consumer Discretionary 14.6% | ||
Automobile Components 1.6% | ||
Gentherm, Inc.(a) | 108,548 | 5,489,272 |
Modine Manufacturing Co.(a) | 109,893 | 10,179,389 |
Visteon Corp.(a) | 62,190 | 6,880,080 |
Total | 22,548,741 | |
Broadline Retail 1.4% | ||
Articore Group Ltd.(a) | 6,119,594 | 1,744,280 |
Kohl’s Corp. | 314,240 | 7,522,906 |
Savers Value Village, Inc.(a) | 644,075 | 10,640,119 |
Total | 19,907,305 | |
Distributors 0.1% | ||
Educational Development Corp.(a) | 372,132 | 803,805 |
Diversified Consumer Services 1.1% | ||
American Public Education, Inc.(a) | 613,970 | 8,491,205 |
Stride, Inc.(a) | 108,337 | 7,231,495 |
Total | 15,722,700 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Hotels, Restaurants & Leisure 1.0% | ||
Everi Holdings, Inc.(a) | 622,992 | 5,089,844 |
PlayAGS, Inc.(a) | 1,021,852 | 9,033,172 |
Total | 14,123,016 | |
Household Durables 3.6% | ||
Cavco Industries, Inc.(a) | 25,487 | 9,282,620 |
Century Communities, Inc. | 92,080 | 7,303,786 |
Hamilton Beach Brands Holding Co. | 465,765 | 9,473,660 |
iRobot Corp.(a) | 271,850 | 2,327,036 |
Landsea Homes Corp.(a) | 352,132 | 4,067,125 |
Legacy Housing Corp.(a) | 252,857 | 5,150,697 |
Lifetime Brands, Inc. | 470,247 | 4,298,057 |
Lovesac Co. (The)(a) | 138,137 | 3,063,879 |
Universal Electronics, Inc.(a) | 465,632 | 5,256,985 |
Total | 50,223,845 | |
Leisure Products 1.2% | ||
Latham Group, Inc.(a) | 978,708 | 2,740,383 |
Malibu Boats, Inc., Class A(a) | 78,495 | 2,670,400 |
Topgolf Callaway Brands Corp.(a) | 681,201 | 10,912,840 |
Total | 16,323,623 | |
Specialty Retail 3.0% | ||
1-800-Flowers.com, Inc., Class A(a) | 296,494 | 2,689,201 |
Advance Auto Parts, Inc. | 179,350 | 13,088,963 |
Beyond, Inc.(a) | 168,680 | 3,395,528 |
Brilliant Earth Group, Inc., Class A(a) | 478,785 | 1,225,690 |
Citi Trends, Inc.(a) | 142,535 | 3,055,950 |
Leslie’s, Inc.(a) | 1,166,900 | 4,585,917 |
Lulu’s Fashion Lounge Holdings, Inc.(a) | 903,910 | 1,355,865 |
National Vision Holdings, Inc.(a) | 357,876 | 6,234,200 |
ThredUp, Inc., Class A(a) | 1,692,274 | 2,707,638 |
Zumiez, Inc.(a) | 187,460 | 3,224,312 |
Total | 41,563,264 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Textiles, Apparel & Luxury Goods 1.6% | ||
Canada Goose Holdings, Inc.(a) | 484,920 | 5,474,747 |
Culp, Inc.(a) | 314,531 | 1,434,261 |
Fossil Group, Inc.(a) | 713,163 | 554,698 |
Movado Group, Inc. | 200,415 | 5,104,570 |
Steven Madden Ltd. | 229,270 | 9,264,801 |
Total | 21,833,077 | |
Total Consumer Discretionary | 203,049,376 | |
Consumer Staples 2.2% | ||
Beverages 0.5% | ||
Duckhorn Portfolio, Inc. (The)(a) | 344,020 | 2,913,849 |
MGP Ingredients, Inc. | 54,660 | 4,287,531 |
Total | 7,201,380 | |
Consumer Staples Distribution & Retail 0.6% | ||
Andersons, Inc. (The) | 142,865 | 7,849,003 |
SpartanNash Co. | 973 | 18,574 |
Total | 7,867,577 | |
Food Products 0.8% | ||
Fresh Del Monte Produce, Inc. | 229,754 | 5,874,810 |
Mission Produce, Inc.(a) | 441,275 | 5,008,471 |
Total | 10,883,281 | |
Personal Care Products 0.3% | ||
Honest Co., Inc. (The)(a) | 1,409,000 | 4,241,090 |
Total Consumer Staples | 30,193,328 | |
Energy 7.4% | ||
Energy Equipment & Services 2.8% | ||
Natural Gas Services Group, Inc.(a) | 368,547 | 8,137,518 |
Newpark Resources, Inc.(a) | 600,144 | 4,164,999 |
Pason Systems, Inc. | 732,130 | 8,322,983 |
Patterson-UTI Energy, Inc. | 1,439,910 | 15,579,826 |
Profire Energy, Inc.(a) | 1,170,243 | 2,118,140 |
Total | 38,323,466 | |
Oil, Gas & Consumable Fuels 4.6% | ||
CVR Energy, Inc. | 260,980 | 7,928,572 |
Delek U.S. Holdings, Inc. | 291,280 | 7,960,682 |
Kinetik Holdings, Inc. | 195,885 | 7,510,231 |
Magnolia Oil & Gas Corp., Class A | 361,550 | 9,064,059 |
Murphy Oil Corp. | 436,576 | 19,488,753 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Ring Energy, Inc.(a) | 2,545,020 | 4,835,538 |
Talos Energy, Inc.(a) | 534,770 | 7,048,269 |
Total | 63,836,104 | |
Total Energy | 102,159,570 | |
Financials 17.6% | ||
Banks 10.0% | ||
Bank of Marin Bancorp | 158,650 | 2,278,214 |
BankUnited, Inc. | 351,946 | 9,407,517 |
Banner Corp. | 173,786 | 7,582,283 |
Capital Bancorp, Inc. | 205,730 | 3,991,162 |
Central Pacific Financial Corp. | 239,151 | 4,768,671 |
CNB Financial Corp. | 10,703 | 203,357 |
Columbia Banking System, Inc. | 531,300 | 9,993,753 |
Community Trust Bancorp, Inc. | 94,353 | 3,963,770 |
Community West Bancshares | 213,298 | 3,662,327 |
First Community Corp. | 202,330 | 3,344,515 |
First Financial Corp. | 100,720 | 3,667,215 |
Heritage Financial Corp. | 261,560 | 4,640,074 |
HomeStreet, Inc. | 344,801 | 4,223,812 |
HomeTrust Bancshares, Inc. | 31,619 | 812,608 |
Northrim BanCorp, Inc. | 141,126 | 6,745,823 |
Popular, Inc. | 175,494 | 14,915,235 |
Provident Financial Holdings, Inc. | 192,842 | 2,495,375 |
Riverview Bancorp, Inc. | 500,451 | 1,866,682 |
Sierra Bancorp | 207,497 | 4,112,591 |
Southern First Bancshares, Inc.(a) | 167,714 | 4,330,376 |
Synovus Financial Corp. | 298,620 | 10,687,610 |
Towne Bank | 280,644 | 7,260,260 |
WaFd, Inc. | 322,080 | 8,725,147 |
Western New England Bancorp, Inc. | 582,376 | 3,517,551 |
Zions Bancorp | 277,040 | 11,297,691 |
Total | 138,493,619 | |
Capital Markets 0.7% | ||
StoneX Group, Inc.(a) | 137,628 | 9,991,793 |
Consumer Finance 0.4% | ||
PROG Holdings, Inc. | 178,583 | 5,936,099 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Financial Services 3.9% | ||
Alerus Financial Corp. | 229,391 | 4,519,003 |
Cass Information Systems, Inc. | 67,122 | 2,898,999 |
Essent Group Ltd. | 344,870 | 18,267,764 |
EVERTEC, Inc. | 155,740 | 5,844,922 |
International Money Express, Inc.(a) | 194,790 | 3,940,602 |
NMI Holdings, Inc., Class A(a) | 368,917 | 11,384,778 |
Payoneer Global, Inc.(a) | 1,524,688 | 7,531,959 |
Total | 54,388,027 | |
Insurance 2.6% | ||
Global Indemnity Group LLC | 218,823 | 6,971,701 |
Greenlight Capital Re Ltd., Class A(a) | 344,716 | 4,177,958 |
Horace Mann Educators Corp. | 235,460 | 8,679,055 |
Mercury General Corp. | 205,706 | 10,750,195 |
ProAssurance Corp.(a) | 362,580 | 4,844,069 |
Total | 35,422,978 | |
Total Financials | 244,232,516 | |
Health Care 8.0% | ||
Biotechnology 3.0% | ||
Apellis Pharmaceuticals, Inc.(a) | 236,865 | 10,467,064 |
Arrowhead Pharmaceuticals, Inc.(a) | 170,209 | 3,850,128 |
BioCryst Pharmaceuticals, Inc.(a) | 477,821 | 1,973,401 |
Celcuity, Inc.(a) | 193,850 | 3,057,014 |
Insmed, Inc.(a) | 347,750 | 8,596,380 |
Lexicon Pharmaceuticals, Inc.(a) | 910,805 | 1,402,640 |
Olema Pharmaceuticals, Inc.(a) | 177,840 | 1,808,633 |
SpringWorks Therapeutics, Inc.(a) | 148,235 | 6,921,092 |
Travere Therapeutics, Inc.(a) | 319,814 | 1,768,571 |
uniQure NV(a) | 311,320 | 1,372,921 |
Total | 41,217,844 | |
Health Care Equipment & Supplies 1.2% | ||
Inogen, Inc.(a) | 485,937 | 3,304,372 |
LivaNova PLC(a) | 208,303 | 11,612,892 |
Zimvie, Inc.(a) | 143,625 | 2,183,100 |
Total | 17,100,364 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care Providers & Services 0.7% | ||
Castle Biosciences, Inc.(a) | 152,387 | 3,213,842 |
Enhabit, Inc.(a) | 283,063 | 2,856,106 |
Fulgent Genetics, Inc.(a) | 188,320 | 3,832,312 |
Total | 9,902,260 | |
Health Care Technology 1.1% | ||
GoodRx Holdings, Inc., Class A(a) | 989,070 | 7,022,397 |
Teladoc Health, Inc.(a) | 563,600 | 7,185,900 |
TruBridge, Inc.(a) | 195,728 | 1,546,251 |
Total | 15,754,548 | |
Life Sciences Tools & Services 0.2% | ||
Codexis, Inc.(a) | 785,495 | 2,285,790 |
Pharmaceuticals 1.8% | ||
ANI Pharmaceuticals, Inc.(a) | 97,244 | 6,418,104 |
Perrigo Co. PLC | 233,909 | 7,639,468 |
Supernus Pharmaceuticals, Inc.(a) | 169,925 | 5,114,742 |
Taro Pharmaceutical Industries Ltd.(a) | 143,222 | 6,084,071 |
Total | 25,256,385 | |
Total Health Care | 111,517,191 | |
Industrials 15.8% | ||
Aerospace & Defense 1.0% | ||
Moog, Inc., Class A | 87,895 | 13,981,458 |
Air Freight & Logistics 0.2% | ||
Radiant Logistics, Inc.(a) | 707,424 | 3,494,675 |
Building Products 1.6% | ||
AZZ, Inc. | 142,480 | 10,205,842 |
UFP Industries, Inc. | 109,045 | 12,289,372 |
Total | 22,495,214 | |
Commercial Services & Supplies 1.0% | ||
ACCO Brands Corp. | 586,821 | 2,828,477 |
Healthcare Services Group, Inc.(a) | 342,010 | 3,632,146 |
HNI Corp. | 181,260 | 7,603,857 |
Total | 14,064,480 | |
Electrical Equipment 0.8% | ||
GrafTech International Ltd. | 2,226,830 | 3,830,148 |
Thermon(a) | 212,480 | 6,784,486 |
Total | 10,614,634 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Ground Transportation 1.6% | ||
Hertz Global Holdings, Inc.(a) | 573,050 | 2,607,378 |
Marten Transport Ltd. | 378,125 | 6,397,875 |
Schneider National, Inc., Class B | 367,118 | 7,592,000 |
Werner Enterprises, Inc. | 154,800 | 5,294,160 |
Total | 21,891,413 | |
Machinery 3.2% | ||
Energy Recovery, Inc.(a) | 237,506 | 3,538,839 |
Gorman-Rupp Co. | 133,078 | 4,414,197 |
Greenbrier Companies, Inc. (The) | 161,320 | 7,967,595 |
Hurco Companies, Inc. | 192,657 | 3,487,092 |
John Bean Technologies Corp. | 97,800 | 8,713,002 |
Manitex International, Inc.(a) | 466,145 | 2,428,615 |
Markforged Holding Corp.(a) | 2,176,187 | 1,329,433 |
Mueller Industries, Inc. | 187,840 | 10,485,229 |
Stratasys Ltd.(a) | 218,780 | 2,126,542 |
Total | 44,490,544 | |
Marine Transportation 2.0% | ||
Costamare, Inc. | 634,665 | 7,603,287 |
Kirby Corp.(a) | 179,451 | 19,583,487 |
Total | 27,186,774 | |
Passenger Airlines 0.3% | ||
Sun Country Airlines Holdings, Inc.(a) | 304,568 | 4,053,800 |
Professional Services 3.0% | ||
Alight, Inc., Class A(a) | 1,605,866 | 14,484,911 |
IBEX Holdings Ltd.(a) | 271,921 | 3,562,165 |
Korn/Ferry International | 206,215 | 12,521,375 |
MAXIMUS, Inc. | 78,640 | 6,313,219 |
TaskUS, Inc., Class A(a) | 445,712 | 5,107,860 |
Total | 41,989,530 | |
Trading Companies & Distributors 1.1% | ||
BlueLinx Holdings, Inc.(a) | 41,877 | 4,592,650 |
H&E Equipment Services, Inc. | 94,341 | 4,555,727 |
Karat Packaging, Inc. | 208,068 | 5,638,643 |
Total | 14,787,020 | |
Total Industrials | 219,049,542 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Information Technology 9.7% | ||
Communications Equipment 1.5% | ||
Applied Optoelectronics, Inc.(a) | 375,881 | 3,702,428 |
Infinera Corp.(a) | 1,079,620 | 5,203,768 |
Lumentum Holdings, Inc.(a) | 165,648 | 7,248,757 |
Netscout Systems, Inc.(a) | 221,017 | 4,256,787 |
Total | 20,411,740 | |
Electronic Equipment, Instruments & Components 3.9% | ||
Airgain, Inc.(a) | 426,837 | 2,236,626 |
FARO Technologies, Inc.(a) | 238,111 | 4,464,581 |
IPG Photonics Corp.(a) | 84,030 | 7,056,839 |
Luna Innovations, Inc.(a) | 969,780 | 1,997,747 |
Methode Electronics, Inc. | 167,412 | 2,040,752 |
OSI Systems, Inc.(a) | 55,610 | 7,309,379 |
Powerfleet, Inc.(a) | 1,411,580 | 6,761,468 |
SmartRent, Inc.(a) | 1,337,030 | 3,101,910 |
TTM Technologies, Inc.(a) | 487,580 | 7,279,569 |
Vishay Precision Group, Inc.(a) | 87,579 | 2,890,107 |
Vontier Corp. | 215,630 | 8,761,047 |
Total | 53,900,025 | |
IT Services 0.7% | ||
Kyndryl Holdings, Inc.(a) | 501,399 | 9,857,504 |
Semiconductors & Semiconductor Equipment 2.0% | ||
Aehr Test Systems(a) | 226,071 | 2,708,331 |
Cohu, Inc.(a) | 220,532 | 6,686,530 |
MagnaChip Semiconductor Corp.(a) | 579,970 | 2,911,449 |
Navitas Semiconductor Corp.(a) | 817,980 | 3,541,853 |
Synaptics, Inc.(a) | 114,490 | 10,299,521 |
Valens Semiconductor Ltd.(a) | 897,181 | 2,117,347 |
Total | 28,265,031 | |
Software 1.4% | ||
Cerence, Inc.(a) | 217,854 | 1,984,650 |
Clear Secure, Inc., Class A | 321,613 | 5,618,579 |
Cognyte Software Ltd.(a) | 459,014 | 3,130,476 |
Mitek Systems, Inc.(a) | 282,001 | 3,561,673 |
Red Violet, Inc.(a) | 200,280 | 3,360,698 |
Upland Software, Inc.(a) | 789,565 | 1,705,460 |
Total | 19,361,536 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Technology Hardware, Storage & Peripherals 0.2% | ||
Nano Dimension Ltd., ADR(a) | 1,068,240 | 2,574,459 |
Total Information Technology | 134,370,295 | |
Materials 9.9% | ||
Chemicals 1.9% | ||
Arcadium Lithium PLC(a) | 931,801 | 4,099,924 |
Aspen Aerogels, Inc.(a) | 252,557 | 3,955,043 |
Chemours Co. LLC (The) | 290,646 | 7,774,781 |
Tronox Holdings PLC, Class A | 634,798 | 10,785,218 |
Total | 26,614,966 | |
Construction Materials 1.2% | ||
Summit Materials, Inc., Class A(a) | 428,868 | 16,682,965 |
Containers & Packaging 0.5% | ||
Greif, Inc., Class A | 110,039 | 6,743,190 |
Metals & Mining 5.8% | ||
Ampco-Pittsburgh Corp.(a) | 680,062 | 1,394,127 |
Capstone Copper Corp.(a) | 1,482,961 | 10,265,949 |
Centerra Gold, Inc. | 1,071,380 | 6,521,748 |
ERO Copper Corp.(a) | 357,554 | 7,290,554 |
Ferroglobe PLC | 986,845 | 5,180,936 |
Hudbay Minerals, Inc. | 1,044,205 | 8,791,149 |
MAG Silver Corp.(a) | 367,650 | 4,521,349 |
MP Materials Corp.(a) | 495,349 | 7,925,584 |
Pan American Silver Corp. | 952,941 | 17,572,232 |
Radius Recycling, Inc., Class A | 44,400 | 773,448 |
Torex Gold Resources, Inc.(a) | 393,142 | 5,540,228 |
Universal Stainless & Alloy Products, Inc.(a) | 194,403 | 5,083,638 |
Total | 80,860,942 | |
Paper & Forest Products 0.5% | ||
Clearwater Paper Corp.(a) | 93,053 | 4,191,107 |
Glatfelter Corp.(a) | 1,809,947 | 2,588,224 |
Total | 6,779,331 | |
Total Materials | 137,681,394 | |
Real Estate 5.7% | ||
Diversified REITs 0.6% | ||
American Assets Trust, Inc. | 372,060 | 7,943,481 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Health Care REITs 0.2% | ||
Universal Health Realty Income Trust | 84,930 | 3,060,028 |
Hotel & Resort REITs 1.4% | ||
Park Hotels & Resorts, Inc. | 623,200 | 10,052,216 |
RLJ Lodging Trust | 809,241 | 8,901,651 |
Total | 18,953,867 | |
Office REITs 1.0% | ||
Brandywine Realty Trust | 999,040 | 4,535,641 |
Highwoods Properties, Inc. | 368,310 | 9,649,722 |
Total | 14,185,363 | |
Retail REITs 0.8% | ||
Macerich Co. (The) | 807,630 | 11,112,989 |
Specialized REITs 1.7% | ||
Outfront Media, Inc. | 619,510 | 9,825,429 |
PotlatchDeltic Corp. | 349,823 | 13,996,418 |
Total | 23,821,847 | |
Total Real Estate | 79,077,575 | |
Utilities 4.8% | ||
Electric Utilities 1.6% | ||
Northwestern Energy Group, Inc. | 176,891 | 8,922,382 |
PNM Resources, Inc. | 375,016 | 13,898,093 |
Total | 22,820,475 | |
Gas Utilities 2.4% | ||
National Fuel Gas Co. | 278,060 | 14,764,986 |
RGC Resources, Inc. | 244,489 | 5,041,363 |
UGI Corp. | 526,700 | 13,462,452 |
Total | 33,268,801 | |
Multi-Utilities 0.8% | ||
Black Hills Corp. | 193,063 | 10,599,159 |
Total Utilities | 66,688,435 | |
Total Common Stocks (Cost $1,112,401,090) | 1,369,292,132 | |
Money Market Funds 0.2% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.485%(b),(c) | 2,317,739 | 2,317,044 |
Total Money Market Funds (Cost $2,317,272) | 2,317,044 | |
Total Investments in Securities (Cost: $1,114,718,362) | 1,371,609,176 | |
Other Assets & Liabilities, Net | 14,802,843 | |
Net Assets | 1,386,412,019 |
(a) | Non-income producing investment. |
(b) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.485% | ||||||||
4,421,052 | 365,355,379 | (367,459,044 ) | (343 ) | 2,317,044 | (10,634 ) | 294,855 | 2,317,739 | |
Gaia, Inc.† | ||||||||
2,410,562 | 105,207 | (1,222,796 ) | 2,149,736 | — | (816,642 ) | — | — | |
Total | 6,831,614 | 2,149,393 | 2,317,044 | (827,276 ) | 294,855 |
† | Issuer was not an affiliate at the end of period. |
(c) | The rate shown is the seven-day current annualized yield at April 30, 2024. |
ADR | American Depositary Receipt |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 41,272,910 | — | — | 41,272,910 |
Consumer Discretionary | 201,305,096 | 1,744,280 | — | 203,049,376 |
Consumer Staples | 30,193,328 | — | — | 30,193,328 |
Energy | 102,159,570 | — | — | 102,159,570 |
Financials | 244,232,516 | — | — | 244,232,516 |
Health Care | 111,517,191 | — | — | 111,517,191 |
Industrials | 219,049,542 | — | — | 219,049,542 |
Information Technology | 134,370,295 | — | — | 134,370,295 |
Materials | 137,681,394 | — | — | 137,681,394 |
Real Estate | 79,077,575 | — | — | 79,077,575 |
Utilities | 66,688,435 | — | — | 66,688,435 |
Total Common Stocks | 1,367,547,852 | 1,744,280 | — | 1,369,292,132 |
Money Market Funds | 2,317,044 | — | — | 2,317,044 |
Total Investments in Securities | 1,369,864,896 | 1,744,280 | — | 1,371,609,176 |
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,112,401,090) | $1,369,292,132 |
Affiliated issuers (cost $2,317,272) | 2,317,044 |
Receivable for: | |
Investments sold | 23,740,807 |
Capital shares sold | 3,703,243 |
Dividends | 735,234 |
Prepaid expenses | 5,076 |
Deferred compensation of board members | 382,175 |
Total assets | 1,400,175,711 |
Liabilities | |
Due to custodian | 1,201 |
Payable for: | |
Investments purchased | 12,283,860 |
Capital shares redeemed | 794,877 |
Management services fees | 31,064 |
Distribution and/or service fees | 2,090 |
Transfer agent fees | 177,571 |
Compensation of board members | 1,048 |
Other expenses | 55,003 |
Deferred compensation of board members | 416,978 |
Total liabilities | 13,763,692 |
Net assets applicable to outstanding capital stock | $1,386,412,019 |
Represented by | |
Paid in capital | 1,088,607,997 |
Total distributable earnings (loss) | 297,804,022 |
Total - representing net assets applicable to outstanding capital stock | $1,386,412,019 |
Class A | |
Net assets | $264,662,092 |
Shares outstanding | 6,367,104 |
Net asset value per share | $41.57 |
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) | $44.11 |
Advisor Class | |
Net assets | $80,948,427 |
Shares outstanding | 1,598,297 |
Net asset value per share | $50.65 |
Class C | |
Net assets | $7,965,036 |
Shares outstanding | 371,669 |
Net asset value per share | $21.43 |
Institutional Class | |
Net assets | $662,416,000 |
Shares outstanding | 13,629,302 |
Net asset value per share | $48.60 |
Institutional 2 Class | |
Net assets | $150,708,453 |
Shares outstanding | 2,969,406 |
Net asset value per share | $50.75 |
Institutional 3 Class | |
Net assets | $217,677,116 |
Shares outstanding | 4,437,316 |
Net asset value per share | $49.06 |
Class R | |
Net assets | $2,034,895 |
Shares outstanding | 49,354 |
Net asset value per share | $41.23 |
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $20,843,762 |
Dividends — affiliated issuers | 294,855 |
Foreign taxes withheld | (164,071 ) |
Total income | 20,974,546 |
Expenses: | |
Management services fees | 10,224,310 |
Distribution and/or service fees | |
Class A | 637,263 |
Class C | 68,208 |
Class R | 9,764 |
Transfer agent fees | |
Class A | 379,340 |
Advisor Class | 116,061 |
Class C | 10,143 |
Institutional Class | 831,351 |
Institutional 2 Class | 81,485 |
Institutional 3 Class | 14,105 |
Class R | 2,907 |
Custodian fees | 36,033 |
Printing and postage fees | 153,978 |
Registration fees | 181,053 |
Accounting services fees | 30,993 |
Legal fees | 26,434 |
Interest on interfund lending | 21,179 |
Compensation of chief compliance officer | 242 |
Compensation of board members | 25,450 |
Deferred compensation of board members | 11,880 |
Other | 49,253 |
Total expenses | 12,911,432 |
Expense reduction | (2,363 ) |
Total net expenses | 12,909,069 |
Net investment income | 8,065,477 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 138,497,658 |
Investments — affiliated issuers | (827,276 ) |
Foreign currency translations | (1,572 ) |
Net realized gain | 137,668,810 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 55,813,042 |
Investments — affiliated issuers | 2,149,393 |
Foreign currency translations | 658 |
Net change in unrealized appreciation (depreciation) | 57,963,093 |
Net realized and unrealized gain | 195,631,903 |
Net increase in net assets resulting from operations | $203,697,380 |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $8,065,477 | $7,272,987 |
Net realized gain | 137,668,810 | 11,652,483 |
Net change in unrealized appreciation (depreciation) | 57,963,093 | (18,479,763 ) |
Net increase in net assets resulting from operations | 203,697,380 | 445,707 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (19,412,034 ) | (13,945,771 ) |
Advisor Class | (4,872,784 ) | (2,764,530 ) |
Class C | (850,474 ) | (633,272 ) |
Institutional Class | (37,161,532 ) | (28,176,888 ) |
Institutional 2 Class | (9,963,763 ) | (5,246,792 ) |
Institutional 3 Class | (15,230,825 ) | (8,710,054 ) |
Class R | (151,163 ) | (113,858 ) |
Total distributions to shareholders | (87,642,575 ) | (59,591,165 ) |
Increase in net assets from capital stock activity | 35,756,321 | 147,585,905 |
Total increase in net assets | 151,811,126 | 88,440,447 |
Net assets at beginning of year | 1,234,600,893 | 1,146,160,446 |
Net assets at end of year | $1,386,412,019 | $1,234,600,893 |
Year Ended | Year Ended | |||
April 30, 2024 | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 714,259 | 29,248,170 | 583,191 | 22,595,872 |
Distributions reinvested | 451,700 | 17,766,330 | 362,208 | 12,817,394 |
Shares redeemed | (936,098 ) | (38,128,779 ) | (934,811 ) | (35,949,994 ) |
Net increase (decrease) | 229,861 | 8,885,721 | 10,588 | (536,728 ) |
Advisor Class | ||||
Shares sold | 990,725 | 49,160,207 | 674,898 | 32,214,091 |
Distributions reinvested | 90,274 | 4,311,693 | 57,135 | 2,432,012 |
Shares redeemed | (912,911 ) | (44,958,200 ) | (509,459 ) | (23,528,750 ) |
Net increase | 168,088 | 8,513,700 | 222,574 | 11,117,353 |
Class C | ||||
Shares sold | 132,340 | 2,869,204 | 67,987 | 1,473,734 |
Distributions reinvested | 35,801 | 736,116 | 30,691 | 597,238 |
Shares redeemed | (83,371 ) | (1,811,367 ) | (118,478 ) | (2,541,729 ) |
Net increase (decrease) | 84,770 | 1,793,953 | (19,800 ) | (470,757 ) |
Institutional Class | ||||
Shares sold | 5,490,728 | 263,701,828 | 8,205,125 | 353,422,764 |
Distributions reinvested | 654,723 | 30,027,425 | 568,409 | 23,351,820 |
Shares redeemed | (6,438,794 ) | (295,020,058 ) | (6,316,981 ) | (281,131,997 ) |
Net increase (decrease) | (293,343 ) | (1,290,805 ) | 2,456,553 | 95,642,587 |
Institutional 2 Class | ||||
Shares sold | 981,928 | 48,790,571 | 1,267,764 | 58,607,741 |
Distributions reinvested | 208,218 | 9,962,777 | 122,865 | 5,246,792 |
Shares redeemed | (1,252,629 ) | (61,868,613 ) | (520,518 ) | (24,090,097 ) |
Net increase (decrease) | (62,483 ) | (3,115,265 ) | 870,111 | 39,764,436 |
Institutional 3 Class | ||||
Shares sold | 1,584,197 | 75,376,383 | 863,431 | 39,079,011 |
Distributions reinvested | 247,208 | 11,435,669 | 147,320 | 6,094,970 |
Shares redeemed | (1,365,674 ) | (65,982,091 ) | (953,022 ) | (42,957,800 ) |
Net increase | 465,731 | 20,829,961 | 57,729 | 2,216,181 |
Class R | ||||
Shares sold | 11,953 | 485,635 | 4,862 | 184,687 |
Distributions reinvested | 3,864 | 150,880 | 3,243 | 113,671 |
Shares redeemed | (12,281 ) | (497,459 ) | (11,560 ) | (445,525 ) |
Net increase (decrease) | 3,536 | 139,056 | (3,455 ) | (147,167 ) |
Total net increase | 596,160 | 35,756,321 | 3,594,300 | 147,585,905 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 4/30/2024 | $38.06 | 0.17 | 6.58 | 6.75 | (0.24 ) | (3.00 ) | (3.24 ) |
Year Ended 4/30/2023 | $40.91 | 0.14 | (0.69 ) | (0.55 ) | (0.13 ) | (2.17 ) | (2.30 ) |
Year Ended 4/30/2022 | $49.30 | 0.02 | (2.46 ) | (2.44 ) | (0.07 ) | (5.88 ) | (5.95 ) |
Year Ended 4/30/2021 | $26.90 | 0.19 | 22.41 | 22.60 | (0.17 ) | (0.03 ) | (0.20 ) |
Year Ended 4/30/2020 | $36.62 | 0.18 | (8.59 ) | (8.41 ) | (0.17 ) | (1.14 ) | (1.31 ) |
Advisor Class | |||||||
Year Ended 4/30/2024 | $45.73 | 0.33 | 7.94 | 8.27 | (0.35 ) | (3.00 ) | (3.35 ) |
Year Ended 4/30/2023 | $48.60 | 0.28 | (0.78 ) | (0.50 ) | (0.20 ) | (2.17 ) | (2.37 ) |
Year Ended 4/30/2022 | $57.47 | 0.15 | (2.94 ) | (2.79 ) | (0.20 ) | (5.88 ) | (6.08 ) |
Year Ended 4/30/2021 | $31.32 | 0.37 | 26.06 | 26.43 | (0.25 ) | (0.03 ) | (0.28 ) |
Year Ended 4/30/2020 | $42.37 | 0.30 | (9.98 ) | (9.68 ) | (0.23 ) | (1.14 ) | (1.37 ) |
Class C | |||||||
Year Ended 4/30/2024 | $20.98 | (0.08 ) | 3.53 | 3.45 | — | (3.00 ) | (3.00 ) |
Year Ended 4/30/2023 | $23.70 | (0.08 ) | (0.47 ) | (0.55 ) | — | (2.17 ) | (2.17 ) |
Year Ended 4/30/2022 | $31.15 | (0.20 ) | (1.37 ) | (1.57 ) | — | (5.88 ) | (5.88 ) |
Year Ended 4/30/2021 | $17.06 | (0.04 ) | 14.16 | 14.12 | — | (0.03 ) | (0.03 ) |
Year Ended 4/30/2020 | $23.72 | (0.04 ) | (5.48 ) | (5.52 ) | — | (1.14 ) | (1.14 ) |
Institutional Class | |||||||
Year Ended 4/30/2024 | $44.01 | 0.32 | 7.62 | 7.94 | (0.35 ) | (3.00 ) | (3.35 ) |
Year Ended 4/30/2023 | $46.87 | 0.27 | (0.76 ) | (0.49 ) | (0.20 ) | (2.17 ) | (2.37 ) |
Year Ended 4/30/2022 | $55.63 | 0.15 | (2.82 ) | (2.67 ) | (0.21 ) | (5.88 ) | (6.09 ) |
Year Ended 4/30/2021 | $30.33 | 0.33 | 25.25 | 25.58 | (0.25 ) | (0.03 ) | (0.28 ) |
Year Ended 4/30/2020 | $41.07 | 0.30 | (9.67 ) | (9.37 ) | (0.23 ) | (1.14 ) | (1.37 ) |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $45.81 | 0.38 | 7.95 | 8.33 | (0.39 ) | (3.00 ) | (3.39 ) |
Year Ended 4/30/2023 | $48.68 | 0.32 | (0.79 ) | (0.47 ) | (0.23 ) | (2.17 ) | (2.40 ) |
Year Ended 4/30/2022 | $57.55 | 0.21 | (2.94 ) | (2.73 ) | (0.26 ) | (5.88 ) | (6.14 ) |
Year Ended 4/30/2021 | $31.36 | 0.40 | 26.11 | 26.51 | (0.29 ) | (0.03 ) | (0.32 ) |
Year Ended 4/30/2020 | $42.40 | 0.36 | (10.00 ) | (9.64 ) | (0.26 ) | (1.14 ) | (1.40 ) |
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 4/30/2024 | $41.57 | 18.34% | 1.25% (c) | 1.25% (c),(d) | 0.41% | 79% | $264,662 |
Year Ended 4/30/2023 | $38.06 | (0.90% ) | 1.24% (c) | 1.24% (c),(d) | 0.36% | 72% | $233,599 |
Year Ended 4/30/2022 | $40.91 | (5.94% ) | 1.26% (c) | 1.26% (c),(d) | 0.04% | 58% | $250,665 |
Year Ended 4/30/2021 | $49.30 | 84.29% | 1.33% (c) | 1.31% (c),(d) | 0.53% | 43% | $286,411 |
Year Ended 4/30/2020 | $26.90 | (23.69% ) | 1.37% (c),(e) | 1.32% (c),(d),(e) | 0.55% | 60% | $152,006 |
Advisor Class | |||||||
Year Ended 4/30/2024 | $50.65 | 18.62% | 1.00% (c) | 1.00% (c),(d) | 0.66% | 79% | $80,948 |
Year Ended 4/30/2023 | $45.73 | (0.64% ) | 0.99% (c) | 0.99% (c),(d) | 0.61% | 72% | $65,398 |
Year Ended 4/30/2022 | $48.60 | (5.71% ) | 1.01% (c) | 1.01% (c),(d) | 0.28% | 58% | $58,696 |
Year Ended 4/30/2021 | $57.47 | 84.74% | 1.08% (c) | 1.06% (c),(d) | 0.87% | 43% | $54,621 |
Year Ended 4/30/2020 | $31.32 | (23.49% ) | 1.12% (c),(e) | 1.07% (c),(d),(e) | 0.79% | 60% | $19,077 |
Class C | |||||||
Year Ended 4/30/2024 | $21.43 | 17.41% | 2.01% (c) | 2.00% (c),(d) | (0.34% ) | 79% | $7,965 |
Year Ended 4/30/2023 | $20.98 | (1.62% ) | 1.99% (c) | 1.99% (c),(d) | (0.39% ) | 72% | $6,018 |
Year Ended 4/30/2022 | $23.70 | (6.66% ) | 2.01% (c) | 2.01% (c),(d) | (0.71% ) | 58% | $7,269 |
Year Ended 4/30/2021 | $31.15 | 82.90% | 2.08% (c) | 2.05% (c),(d) | (0.19% ) | 43% | $8,516 |
Year Ended 4/30/2020 | $17.06 | (24.24% ) | 2.12% (c),(e) | 2.07% (c),(d),(e) | (0.20% ) | 60% | $3,178 |
Institutional Class | |||||||
Year Ended 4/30/2024 | $48.60 | 18.60% | 1.00% (c) | 1.00% (c),(d) | 0.66% | 79% | $662,416 |
Year Ended 4/30/2023 | $44.01 | (0.64% ) | 0.99% (c) | 0.99% (c),(d) | 0.60% | 72% | $612,677 |
Year Ended 4/30/2022 | $46.87 | (5.70% ) | 1.01% (c) | 1.01% (c),(d) | 0.30% | 58% | $537,447 |
Year Ended 4/30/2021 | $55.63 | 84.72% | 1.07% (c) | 1.05% (c),(d) | 0.77% | 43% | $440,126 |
Year Ended 4/30/2020 | $30.33 | (23.48% ) | 1.12% (c),(e) | 1.07% (c),(d),(e) | 0.79% | 60% | $106,186 |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $50.75 | 18.74% | 0.91% (c) | 0.91% (c) | 0.76% | 79% | $150,708 |
Year Ended 4/30/2023 | $45.81 | (0.59% ) | 0.90% (c) | 0.90% (c) | 0.68% | 72% | $138,905 |
Year Ended 4/30/2022 | $48.68 | (5.60% ) | 0.91% (c) | 0.91% (c) | 0.39% | 58% | $105,229 |
Year Ended 4/30/2021 | $57.55 | 84.97% | 0.95% (c) | 0.93% (c) | 0.93% | 43% | $116,249 |
Year Ended 4/30/2020 | $31.36 | (23.39% ) | 0.98% (c),(e) | 0.94% (c),(e) | 0.96% | 60% | $52,825 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 4/30/2024 | $44.38 | 0.38 | 7.72 | 8.10 | (0.42 ) | (3.00 ) | (3.42 ) |
Year Ended 4/30/2023 | $47.23 | 0.33 | (0.77 ) | (0.44 ) | (0.24 ) | (2.17 ) | (2.41 ) |
Year Ended 4/30/2022 | $56.01 | 0.23 | (2.84 ) | (2.61 ) | (0.29 ) | (5.88 ) | (6.17 ) |
Year Ended 4/30/2021 | $30.53 | 0.39 | 25.43 | 25.82 | (0.31 ) | (0.03 ) | (0.34 ) |
Year Ended 4/30/2020 | $41.30 | 0.37 | (9.72 ) | (9.35 ) | (0.28 ) | (1.14 ) | (1.42 ) |
Class R | |||||||
Year Ended 4/30/2024 | $37.79 | 0.07 | 6.52 | 6.59 | (0.15 ) | (3.00 ) | (3.15 ) |
Year Ended 4/30/2023 | $40.66 | 0.04 | (0.68 ) | (0.64 ) | (0.06 ) | (2.17 ) | (2.23 ) |
Year Ended 4/30/2022 | $49.08 | (0.09 ) | (2.45 ) | (2.54 ) | — | (5.88 ) | (5.88 ) |
Year Ended 4/30/2021 | $26.79 | 0.11 | 22.30 | 22.41 | (0.09 ) | (0.03 ) | (0.12 ) |
Year Ended 4/30/2020 | $36.50 | 0.10 | (8.56 ) | (8.46 ) | (0.11 ) | (1.14 ) | (1.25 ) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interfund lending expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
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 4/30/2024 | $49.06 | 18.81% | 0.86% (c) | 0.86% (c) | 0.80% | 79% | $217,677 |
Year Ended 4/30/2023 | $44.38 | (0.53% ) | 0.85% (c) | 0.85% (c) | 0.74% | 72% | $176,273 |
Year Ended 4/30/2022 | $47.23 | (5.55% ) | 0.86% (c) | 0.86% (c) | 0.44% | 58% | $184,850 |
Year Ended 4/30/2021 | $56.01 | 85.03% | 0.90% (c) | 0.88% (c) | 0.96% | 43% | $178,586 |
Year Ended 4/30/2020 | $30.53 | (23.34% ) | 0.93% (c),(e) | 0.89% (c),(e) | 1.01% | 60% | $96,875 |
Class R | |||||||
Year Ended 4/30/2024 | $41.23 | 18.01% | 1.50% (c) | 1.50% (c),(d) | 0.16% | 79% | $2,035 |
Year Ended 4/30/2023 | $37.79 | (1.14% ) | 1.49% (c) | 1.49% (c),(d) | 0.11% | 72% | $1,731 |
Year Ended 4/30/2022 | $40.66 | (6.17% ) | 1.51% (c) | 1.51% (c),(d) | (0.20% ) | 58% | $2,003 |
Year Ended 4/30/2021 | $49.08 | 83.85% | 1.58% (c) | 1.56% (c),(d) | 0.30% | 43% | $2,521 |
Year Ended 4/30/2020 | $26.79 | (23.87% ) | 1.62% (c),(e) | 1.57% (c),(d),(e) | 0.31% | 60% | $1,487 |
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
418,069 | — | — |
Effective rate (%) | |
Class A | 0.15 |
Advisor Class | 0.15 |
Class C | 0.15 |
Institutional Class | 0.15 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.15 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00 (a) | 103,276 |
Class C | — | 1.00 (b) | 221 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through August 31, 2024 | |
Class A | 1.27 % |
Advisor Class | 1.02 |
Class C | 2.02 |
Institutional Class | 1.02 |
Institutional 2 Class | 0.93 |
Institutional 3 Class | 0.88 |
Class R | 1.52 |
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(126,470 ) | (8,449,530 ) | 8,576,000 |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
8,929,299 | 78,713,276 | 87,642,575 | 5,775,857 | 53,815,308 | 59,591,165 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
278,344 | 54,704,261 | (5,821,305 ) | 249,059,700 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,122,549,476 | 315,196,085 | (66,136,385 ) | 249,059,700 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(5,821,305 ) | — | (5,821,305 ) | 599,961 |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 2,389,091 | 5.82 | 55 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
100.00% | 100.00% | $131,006,933 |
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 and other relevant Board experience |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 161 | 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; former Board Member, Chase Bank International, 1993-1994 |
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 and other relevant Board experience |
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; Trustee of Gerald Rauenhorst 1982 Trusts, since 2020; 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-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 161 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (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; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; 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, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 161 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee, since 2017 and Audit Committee Chair, since November 2023); Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services company), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
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 | 161 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, January 2020-December 2023; Adjunct Professor of Finance, Bentley University January 2018-April 2023; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; 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 | 159 | Former Director, The Autism Project, March 2015-December 2021; 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 (former mutual fund complex), January 2015-December 2017 |
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 and other relevant Board experience |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | 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; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 159 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor Emeritus of Economics and Management, Bentley University, since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 161 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 |
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 | 161 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | 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 | 161 | Director, SpartanNash Company (food distributor), since November 2013 (Chair of the Board, since May 2021); Director, Aircastle Limited (aircraft leasing), since August 2006 (Chair of Audit Committee); 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 | 159 | None |
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 and other relevant Board experience |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 161 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates, January 2013-December 2015 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | 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. | 161 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 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 | 159 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. 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 | 161 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, June 2022-June 2023 |
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 and other relevant Board experience |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 | 161 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds 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, Beckman, Gallagher, Hacker and Moffett and Mses. Blatz, Carlton, Carrig, Flynn, Paglia, and Yeager serve as directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | 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. |
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009); Senior Vice President (2019); Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2024) for CFST, CFST I, CFST II, CFVIT and CFVST II | Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations, March 2022 – June 2023, Vice President, Head of North America Operations, and Co-Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. Director, Ameriprise Trust Company, since June 2023. |
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 |
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. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 - 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, TAM UK International Holdings Limited, since July 2021; formerly Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, March 2013 – December 2022 and December 2008 – December 2022, respectively; senior executive of various entities affiliated with Columbia Threadneedle Investments. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
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; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
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; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
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Average annual total returns (%) (for the period ended April 30, 2024) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 11/25/02 | -3.01 | -0.79 | 0.40 | |
Institutional Class | 06/04/91 | -2.96 | -0.65 | 0.56 | |
Institutional 2 Class | 11/08/12 | -2.97 | -0.64 | 0.55 | |
Institutional 3 Class* | 03/01/17 | -2.92 | -0.64 | 0.56 | |
FTSE USBIG Treasury Index | -2.75 | -0.48 | 0.74 |
Portfolio breakdown (%) (at April 30, 2024) | |
Money Market Funds | 0.5 |
U.S. Treasury Obligations | 99.5 |
Total | 100.0 |
Quality breakdown (%) (at April 30, 2024) | |
AA rating | 100.0 |
Total | 100.0 |
November 1, 2023 — April 30, 2024 | |||||||
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 | 1,033.20 | 1,023.27 | 1.62 | 1.61 | 0.32 |
Institutional Class | 1,000.00 | 1,000.00 | 1,034.00 | 1,024.02 | 0.86 | 0.86 | 0.17 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,034.00 | 1,024.02 | 0.86 | 0.86 | 0.17 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,033.90 | 1,024.02 | 0.86 | 0.86 | 0.17 |
U.S. Treasury Obligations 98.8% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury | ||||
05/15/2025 | 2.125% | 5,903,000 | 5,718,070 | |
05/15/2025 | 2.750% | 4,352,000 | 4,242,690 | |
05/31/2025 | 0.250% | 4,380,000 | 4,151,419 | |
05/31/2025 | 2.875% | 2,362,000 | 2,303,319 | |
05/31/2025 | 4.250% | 3,977,000 | 3,934,900 | |
06/15/2025 | 2.875% | 5,192,000 | 5,058,549 | |
06/30/2025 | 0.250% | 3,717,000 | 3,509,951 | |
06/30/2025 | 2.750% | 2,373,000 | 2,307,094 | |
06/30/2025 | 4.625% | 3,643,000 | 3,618,097 | |
07/15/2025 | 3.000% | 4,646,000 | 4,527,309 | |
07/31/2025 | 0.250% | 5,390,000 | 5,069,548 | |
07/31/2025 | 2.875% | 2,599,000 | 2,525,903 | |
07/31/2025 | 4.750% | 4,892,000 | 4,865,820 | |
08/15/2025 | 2.000% | 6,371,000 | 6,119,893 | |
08/15/2025 | 3.125% | 4,667,000 | 4,547,955 | |
08/31/2025 | 0.250% | 3,863,000 | 3,619,299 | |
08/31/2025 | 2.750% | 2,414,000 | 2,338,468 | |
08/31/2025 | 5.000% | 4,604,000 | 4,591,950 | |
09/15/2025 | 3.500% | 4,686,000 | 4,581,480 | |
09/30/2025 | 0.250% | 5,226,000 | 4,877,736 | |
09/30/2025 | 3.000% | 2,420,000 | 2,348,251 | |
09/30/2025 | 5.000% | 5,051,000 | 5,038,175 | |
10/15/2025 | 4.250% | 4,515,000 | 4,457,152 | |
10/31/2025 | 0.250% | 6,091,000 | 5,663,440 | |
10/31/2025 | 3.000% | 3,471,000 | 3,363,616 | |
10/31/2025 | 5.000% | 6,045,000 | 6,030,596 | |
11/15/2025 | 2.250% | 6,604,000 | 6,321,266 | |
11/15/2025 | 4.500% | 3,964,000 | 3,925,444 | |
11/30/2025 | 0.375% | 4,636,000 | 4,303,150 | |
11/30/2025 | 2.875% | 3,042,000 | 2,937,907 | |
11/30/2025 | 4.875% | 5,581,000 | 5,557,673 | |
12/15/2025 | 4.000% | 5,229,000 | 5,136,267 | |
12/31/2025 | 0.375% | 5,876,000 | 5,434,611 | |
12/31/2025 | 2.625% | 2,738,000 | 2,629,443 | |
12/31/2025 | 4.250% | 5,308,000 | 5,233,771 | |
01/15/2026 | 3.875% | 4,463,000 | 4,373,043 | |
01/31/2026 | 0.375% | 5,670,000 | 5,223,930 | |
01/31/2026 | 2.625% | 2,446,000 | 2,344,911 | |
01/31/2026 | 4.250% | 5,251,000 | 5,177,158 | |
02/15/2026 | 1.625% | 5,549,000 | 5,221,479 | |
02/15/2026 | 4.000% | 4,164,000 | 4,086,738 | |
02/15/2026 | 6.000% | 485,000 | 492,370 | |
02/28/2026 | 0.500% | 6,649,000 | 6,120,976 | |
02/28/2026 | 2.500% | 3,002,000 | 2,867,027 | |
02/28/2026 | 4.625% | 8,870,000 | 8,801,396 | |
03/15/2026 | 4.625% | 4,555,000 | 4,518,880 | |
03/31/2026 | 0.750% | 5,353,000 | 4,937,097 | |
03/31/2026 | 2.250% | 2,475,000 | 2,349,896 | |
04/15/2026 | 3.750% | 4,239,000 | 4,137,330 | |
04/30/2026 | 0.750% | 5,550,000 | 5,101,881 | |
04/30/2026 | 2.375% | 2,036,000 | 1,933,882 | |
05/15/2026 | 1.625% | 4,562,000 | 4,263,332 | |
05/15/2026 | 3.625% | 4,372,000 | 4,253,819 | |
05/31/2026 | 0.750% | 6,266,000 | 5,740,733 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
05/31/2026 | 2.125% | 2,186,000 | 2,062,013 | |
06/15/2026 | 4.125% | 3,692,000 | 3,625,948 | |
06/30/2026 | 0.875% | 4,848,000 | 4,441,980 | |
06/30/2026 | 1.875% | 2,504,000 | 2,345,152 | |
07/15/2026 | 4.500% | 4,201,000 | 4,156,364 | |
07/31/2026 | 0.625% | 5,615,000 | 5,098,683 | |
07/31/2026 | 1.875% | 2,172,000 | 2,029,463 | |
08/15/2026 | 1.500% | 4,527,000 | 4,187,121 | |
08/15/2026 | 4.375% | 4,258,000 | 4,201,781 | |
08/31/2026 | 0.750% | 5,997,000 | 5,443,683 | |
08/31/2026 | 1.375% | 2,513,000 | 2,315,494 | |
09/15/2026 | 4.625% | 3,649,000 | 3,620,492 | |
09/30/2026 | 0.875% | 5,942,000 | 5,396,543 | |
09/30/2026 | 1.625% | 1,209,000 | 1,118,325 | |
10/15/2026 | 4.625% | 4,534,000 | 4,499,641 | |
10/31/2026 | 1.125% | 5,699,000 | 5,190,988 | |
10/31/2026 | 1.625% | 2,647,000 | 2,442,478 | |
11/15/2026 | 2.000% | 4,040,000 | 3,759,094 | |
11/15/2026 | 4.625% | 3,335,000 | 3,309,987 | |
11/30/2026 | 1.250% | 6,730,000 | 6,134,816 | |
11/30/2026 | 1.625% | 2,088,000 | 1,922,265 | |
12/15/2026 | 4.375% | 5,182,000 | 5,112,367 | |
12/31/2026 | 1.250% | 6,122,000 | 5,568,150 | |
12/31/2026 | 1.750% | 2,601,000 | 2,397,390 | |
01/15/2027 | 4.000% | 5,457,000 | 5,332,086 | |
01/31/2027 | 1.500% | 7,713,000 | 7,044,138 | |
02/15/2027 | 2.250% | 4,400,000 | 4,099,219 | |
02/15/2027 | 4.125% | 2,054,000 | 2,012,920 | |
02/28/2027 | 1.125% | 1,558,000 | 1,404,513 | |
02/28/2027 | 1.875% | 5,444,000 | 5,013,584 | |
03/15/2027 | 4.250% | 1,675,000 | 1,646,865 | |
03/31/2027 | 0.625% | 2,295,000 | 2,033,227 | |
03/31/2027 | 2.500% | 5,662,000 | 5,300,605 | |
04/30/2027 | 0.500% | 2,502,000 | 2,199,805 | |
04/30/2027 | 2.750% | 3,771,000 | 3,549,748 | |
05/15/2027 | 2.375% | 6,142,000 | 5,713,020 | |
05/31/2027 | 0.500% | 3,520,000 | 3,084,400 | |
05/31/2027 | 2.625% | 5,278,000 | 4,942,352 | |
06/30/2027 | 0.500% | 4,342,000 | 3,793,483 | |
06/30/2027 | 3.250% | 4,978,000 | 4,746,212 | |
07/31/2027 | 0.375% | 5,003,000 | 4,335,803 | |
07/31/2027 | 2.750% | 5,098,000 | 4,778,578 | |
08/15/2027 | 2.250% | 4,827,000 | 4,448,759 | |
08/31/2027 | 0.500% | 4,015,000 | 3,483,640 | |
08/31/2027 | 3.125% | 4,979,000 | 4,717,992 | |
09/30/2027 | 0.375% | 5,260,000 | 4,528,531 | |
09/30/2027 | 4.125% | 4,610,000 | 4,507,716 | |
10/31/2027 | 0.500% | 5,033,000 | 4,337,424 | |
10/31/2027 | 4.125% | 4,494,000 | 4,391,130 | |
11/15/2027 | 2.250% | 5,016,000 | 4,599,045 | |
11/30/2027 | 0.625% | 5,564,000 | 4,802,862 | |
11/30/2027 | 3.875% | 4,990,000 | 4,834,452 | |
12/31/2027 | 0.625% | 5,807,000 | 4,995,835 | |
12/31/2027 | 3.875% | 4,757,000 | 4,607,229 | |
01/31/2028 | 0.750% | 6,226,000 | 5,366,034 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
01/31/2028 | 3.500% | 4,885,000 | 4,665,938 | |
02/15/2028 | 2.750% | 6,549,000 | 6,084,430 | |
02/29/2028 | 1.125% | 6,631,000 | 5,785,547 | |
02/29/2028 | 4.000% | 4,869,000 | 4,732,440 | |
03/31/2028 | 1.250% | 5,742,000 | 5,021,110 | |
03/31/2028 | 3.625% | 4,310,000 | 4,130,866 | |
04/30/2028 | 1.250% | 6,287,000 | 5,483,443 | |
04/30/2028 | 3.500% | 4,946,000 | 4,715,702 | |
05/15/2028 | 2.875% | 7,070,000 | 6,578,414 | |
05/31/2028 | 1.250% | 6,384,000 | 5,555,576 | |
05/31/2028 | 3.625% | 4,621,000 | 4,424,607 | |
06/30/2028 | 1.250% | 6,196,000 | 5,377,934 | |
06/30/2028 | 4.000% | 4,182,000 | 4,060,461 | |
07/31/2028 | 1.000% | 6,671,000 | 5,712,565 | |
07/31/2028 | 4.125% | 4,418,000 | 4,308,931 | |
08/15/2028 | 2.875% | 7,127,000 | 6,606,395 | |
08/31/2028 | 1.125% | 6,718,000 | 5,770,132 | |
08/31/2028 | 4.375% | 5,205,000 | 5,125,705 | |
09/30/2028 | 1.250% | 6,111,000 | 5,264,531 | |
09/30/2028 | 4.625% | 5,001,000 | 4,972,869 | |
10/31/2028 | 1.375% | 5,439,000 | 4,701,761 | |
10/31/2028 | 4.875% | 4,487,000 | 4,508,033 | |
11/15/2028 | 3.125% | 5,729,000 | 5,350,349 | |
11/15/2028 | 5.250% | 993,000 | 1,011,153 | |
11/30/2028 | 1.500% | 5,839,000 | 5,065,789 | |
11/30/2028 | 4.375% | 5,630,000 | 5,545,110 | |
12/31/2028 | 1.375% | 5,621,000 | 4,835,817 | |
12/31/2028 | 3.750% | 3,652,000 | 3,501,640 | |
01/31/2029 | 1.750% | 4,713,000 | 4,117,984 | |
01/31/2029 | 4.000% | 10,160,000 | 9,845,675 | |
02/15/2029 | 2.625% | 5,474,000 | 4,981,768 | |
02/15/2029 | 5.250% | 277,000 | 281,999 | |
02/28/2029 | 1.875% | 5,419,000 | 4,755,172 | |
02/28/2029 | 4.250% | 4,156,000 | 4,071,906 | |
03/31/2029 | 2.375% | 4,510,000 | 4,046,316 | |
04/30/2029 | 2.875% | 4,516,000 | 4,145,194 | |
05/15/2029 | 2.375% | 4,854,000 | 4,346,605 | |
05/31/2029 | 2.750% | 4,423,000 | 4,030,804 | |
06/30/2029 | 3.250% | 4,126,000 | 3,847,495 | |
07/31/2029 | 2.625% | 3,938,000 | 3,556,814 | |
08/15/2029 | 1.625% | 4,893,000 | 4,196,894 | |
08/31/2029 | 3.125% | 3,601,000 | 3,331,488 | |
09/30/2029 | 3.875% | 3,557,000 | 3,413,331 | |
10/31/2029 | 4.000% | 3,648,000 | 3,520,605 | |
11/15/2029 | 1.750% | 3,419,000 | 2,939,272 | |
11/30/2029 | 3.875% | 3,759,000 | 3,603,648 | |
12/31/2029 | 3.875% | 3,715,000 | 3,559,144 | |
01/31/2030 | 3.500% | 3,643,000 | 3,420,151 | |
02/15/2030 | 1.500% | 6,136,000 | 5,145,611 | |
02/28/2030 | 4.000% | 3,649,000 | 3,515,583 | |
03/31/2030 | 3.625% | 3,552,000 | 3,353,310 | |
04/30/2030 | 3.500% | 3,531,000 | 3,308,381 | |
05/15/2030 | 0.625% | 8,230,000 | 6,478,553 | |
05/15/2030 | 6.250% | 687,000 | 740,135 | |
05/31/2030 | 3.750% | 3,529,000 | 3,349,242 | |
06/30/2030 | 3.750% | 3,427,000 | 3,250,563 | |
07/31/2030 | 4.000% | 4,057,000 | 3,900,425 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
08/15/2030 | 0.625% | 10,661,000 | 8,312,248 | |
08/31/2030 | 4.125% | 3,871,000 | 3,746,100 | |
09/30/2030 | 4.625% | 3,760,000 | 3,741,494 | |
10/31/2030 | 4.875% | 4,165,000 | 4,201,444 | |
11/15/2030 | 0.875% | 11,533,000 | 9,082,237 | |
11/30/2030 | 4.375% | 4,073,000 | 3,995,358 | |
12/31/2030 | 3.750% | 4,058,000 | 3,837,346 | |
01/31/2031 | 4.000% | 4,237,000 | 4,064,872 | |
02/15/2031 | 1.125% | 10,641,000 | 8,476,222 | |
02/15/2031 | 5.375% | 466,000 | 484,786 | |
02/28/2031 | 4.250% | 1,923,000 | 1,872,521 | |
05/15/2031 | 1.625% | 10,583,000 | 8,659,870 | |
08/15/2031 | 1.250% | 11,700,000 | 9,239,344 | |
11/15/2031 | 1.375% | 11,425,000 | 9,036,461 | |
02/15/2032 | 1.875% | 11,265,000 | 9,207,377 | |
05/15/2032 | 2.875% | 10,346,000 | 9,089,931 | |
08/15/2032 | 2.750% | 10,691,000 | 9,271,102 | |
11/15/2032 | 4.125% | 10,739,000 | 10,311,118 | |
02/15/2033 | 3.500% | 9,974,000 | 9,123,093 | |
05/15/2033 | 3.375% | 10,025,000 | 9,060,094 | |
08/15/2033 | 3.875% | 11,842,000 | 11,118,528 | |
11/15/2033 | 4.500% | 12,153,000 | 11,976,402 | |
02/15/2034 | 4.000% | 9,162,000 | 8,676,700 | |
02/15/2036 | 4.500% | 1,045,000 | 1,039,612 | |
05/15/2037 | 5.000% | 666,000 | 689,726 | |
02/15/2038 | 4.375% | 575,000 | 557,391 | |
05/15/2038 | 4.500% | 622,000 | 609,463 | |
02/15/2039 | 3.500% | 721,000 | 627,608 | |
05/15/2039 | 4.250% | 1,208,000 | 1,142,693 | |
08/15/2039 | 4.500% | 1,278,000 | 1,241,657 | |
11/15/2039 | 4.375% | 1,490,000 | 1,424,114 | |
02/15/2040 | 4.625% | 1,475,000 | 1,448,727 | |
05/15/2040 | 1.125% | 4,267,000 | 2,510,863 | |
05/15/2040 | 4.375% | 1,292,000 | 1,230,630 | |
08/15/2040 | 1.125% | 4,620,000 | 2,691,872 | |
08/15/2040 | 3.875% | 1,302,000 | 1,163,663 | |
11/15/2040 | 1.375% | 5,569,000 | 3,373,596 | |
11/15/2040 | 4.250% | 1,289,000 | 1,204,208 | |
02/15/2041 | 1.875% | 6,993,000 | 4,594,620 | |
02/15/2041 | 4.750% | 1,479,000 | 1,466,521 | |
05/15/2041 | 2.250% | 5,883,000 | 4,098,796 | |
05/15/2041 | 4.375% | 1,334,000 | 1,261,672 | |
08/15/2041 | 1.750% | 6,926,000 | 4,395,846 | |
08/15/2041 | 3.750% | 1,217,000 | 1,059,170 | |
11/15/2041 | 2.000% | 5,777,000 | 3,815,528 | |
11/15/2041 | 3.125% | 1,514,000 | 1,200,791 | |
02/15/2042 | 2.375% | 5,295,000 | 3,713,119 | |
02/15/2042 | 3.125% | 1,487,000 | 1,175,195 | |
05/15/2042 | 3.000% | 1,389,000 | 1,073,003 | |
05/15/2042 | 3.250% | 4,005,000 | 3,216,516 | |
08/15/2042 | 2.750% | 1,659,000 | 1,227,660 | |
08/15/2042 | 3.375% | 4,004,000 | 3,266,388 | |
11/15/2042 | 2.750% | 2,482,000 | 1,829,699 | |
11/15/2042 | 4.000% | 4,159,000 | 3,706,059 | |
02/15/2043 | 3.125% | 1,981,000 | 1,546,728 | |
02/15/2043 | 3.875% | 3,541,000 | 3,093,949 | |
05/15/2043 | 2.875% | 3,096,000 | 2,316,679 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
05/15/2043 | 3.875% | 3,531,000 | 3,079,694 | |
08/15/2043 | 3.625% | 2,239,000 | 1,877,611 | |
08/15/2043 | 4.375% | 4,405,000 | 4,114,545 | |
11/15/2043 | 3.750% | 2,268,000 | 1,934,179 | |
11/15/2043 | 4.750% | 4,608,000 | 4,520,880 | |
02/15/2044 | 3.625% | 2,524,000 | 2,110,695 | |
02/15/2044 | 4.500% | 1,674,000 | 1,589,254 | |
05/15/2044 | 3.375% | 2,891,000 | 2,323,641 | |
08/15/2044 | 3.125% | 2,674,000 | 2,059,816 | |
11/15/2044 | 3.000% | 2,664,000 | 2,005,076 | |
02/15/2045 | 2.500% | 2,748,000 | 1,885,386 | |
05/15/2045 | 3.000% | 1,584,000 | 1,186,268 | |
08/15/2045 | 2.875% | 2,361,000 | 1,725,743 | |
11/15/2045 | 3.000% | 1,425,000 | 1,063,184 | |
02/15/2046 | 2.500% | 2,471,000 | 1,675,261 | |
05/15/2046 | 2.500% | 2,741,000 | 1,852,745 | |
08/15/2046 | 2.250% | 2,708,000 | 1,733,543 | |
11/15/2046 | 2.875% | 1,611,000 | 1,164,451 | |
02/15/2047 | 3.000% | 2,933,000 | 2,164,462 | |
05/15/2047 | 3.000% | 2,267,000 | 1,669,787 | |
08/15/2047 | 2.750% | 3,307,000 | 2,316,967 | |
11/15/2047 | 2.750% | 3,329,000 | 2,328,219 | |
02/15/2048 | 3.000% | 3,729,000 | 2,732,658 | |
05/15/2048 | 3.125% | 4,052,000 | 3,035,834 | |
08/15/2048 | 3.000% | 4,436,000 | 3,241,052 | |
11/15/2048 | 3.375% | 4,553,000 | 3,564,145 | |
02/15/2049 | 3.000% | 4,643,000 | 3,385,763 | |
05/15/2049 | 2.875% | 4,679,000 | 3,325,014 | |
08/15/2049 | 2.250% | 4,351,000 | 2,700,339 | |
11/15/2049 | 2.375% | 4,081,000 | 2,602,275 | |
02/15/2050 | 2.000% | 5,202,000 | 3,026,914 | |
05/15/2050 | 1.250% | 6,241,000 | 2,947,897 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
08/15/2050 | 1.375% | 6,838,000 | 3,336,730 | |
11/15/2050 | 1.625% | 6,668,000 | 3,485,072 | |
02/15/2051 | 1.875% | 7,449,000 | 4,159,801 | |
05/15/2051 | 2.375% | 7,541,000 | 4,757,900 | |
08/15/2051 | 2.000% | 7,701,000 | 4,422,059 | |
11/15/2051 | 1.875% | 7,187,000 | 3,986,539 | |
02/15/2052 | 2.250% | 6,605,000 | 4,028,018 | |
05/15/2052 | 2.875% | 6,093,000 | 4,287,949 | |
08/15/2052 | 3.000% | 5,834,000 | 4,212,330 | |
11/15/2052 | 4.000% | 5,839,000 | 5,117,336 | |
02/15/2053 | 3.625% | 5,710,000 | 4,665,248 | |
05/15/2053 | 3.625% | 5,792,000 | 4,734,055 | |
08/15/2053 | 4.125% | 6,312,000 | 5,651,212 | |
11/15/2053 | 4.750% | 7,806,000 | 7,764,531 | |
02/15/2054 | 4.250% | 2,586,000 | 2,368,210 | |
Total U.S. Treasury Obligations (Cost $1,187,774,944) | 1,085,337,529 |
Money Market Funds 0.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.485%(a),(b) | 5,678,460 | 5,676,757 |
Total Money Market Funds (Cost $5,676,666) | 5,676,757 | |
Total Investments in Securities (Cost: $1,193,451,610) | 1,091,014,286 | |
Other Assets & Liabilities, Net | 7,568,344 | |
Net Assets | 1,098,582,630 |
(a) | The rate shown is the seven-day current annualized yield at April 30, 2024. |
(b) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.485% | ||||||||
3,627,916 | 95,435,026 | (93,386,059 ) | (126 ) | 5,676,757 | 1,157 | 273,016 | 5,678,460 |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
U.S. Treasury Obligations | — | 1,085,337,529 | — | 1,085,337,529 |
Money Market Funds | 5,676,757 | — | — | 5,676,757 |
Total Investments in Securities | 5,676,757 | 1,085,337,529 | — | 1,091,014,286 |
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,187,774,944) | $1,085,337,529 |
Affiliated issuers (cost $5,676,666) | 5,676,757 |
Receivable for: | |
Investments sold | 17,110,619 |
Capital shares sold | 3,146,055 |
Dividends | 18,620 |
Interest | 9,039,143 |
Expense reimbursement due from Investment Manager | 6,942 |
Deferred compensation of board members | 146,682 |
Total assets | 1,120,482,347 |
Liabilities | |
Payable for: | |
Investments purchased | 18,580,113 |
Capital shares redeemed | 132,950 |
Distributions to shareholders | 2,989,987 |
Management services fees | 12,013 |
Distribution and/or service fees | 272 |
Compensation of board members | 999 |
Deferred compensation of board members | 183,383 |
Total liabilities | 21,899,717 |
Net assets applicable to outstanding capital stock | $1,098,582,630 |
Represented by | |
Paid in capital | 1,311,908,994 |
Total distributable earnings (loss) | (213,326,364 ) |
Total - representing net assets applicable to outstanding capital stock | $1,098,582,630 |
Class A | |
Net assets | $66,276,510 |
Shares outstanding | 6,890,048 |
Net asset value per share | $9.62 |
Institutional Class | |
Net assets | $388,593,995 |
Shares outstanding | 40,379,709 |
Net asset value per share | $9.62 |
Institutional 2 Class | |
Net assets | $20,647,811 |
Shares outstanding | 2,150,468 |
Net asset value per share | $9.60 |
Institutional 3 Class | |
Net assets | $623,064,314 |
Shares outstanding | 64,384,601 |
Net asset value per share | $9.68 |
Net investment income | |
Income: | |
Dividends — affiliated issuers | $273,016 |
Interest | 34,855,108 |
Total income | 35,128,124 |
Expenses: | |
Management services fees | 4,509,179 |
Distribution and/or service fees | |
Class A | 98,670 |
Class C | 5,608 |
Compensation of board members | 23,950 |
Deferred compensation of board members | 11,986 |
Total expenses | 4,649,393 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (2,632,271 ) |
Expense reduction | (600 ) |
Total net expenses | 2,016,522 |
Net investment income | 33,111,602 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (45,426,323 ) |
Investments — affiliated issuers | 1,157 |
Net realized loss | (45,425,166 ) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (22,755,534 ) |
Investments — affiliated issuers | (126 ) |
Net change in unrealized appreciation (depreciation) | (22,755,660 ) |
Net realized and unrealized loss | (68,180,826 ) |
Net decrease in net assets resulting from operations | $(35,069,224 ) |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $33,111,602 | $22,280,845 |
Net realized loss | (45,425,166 ) | (60,258,787 ) |
Net change in unrealized appreciation (depreciation) | (22,755,660 ) | 23,292,480 |
Net decrease in net assets resulting from operations | (35,069,224 ) | (14,685,462 ) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (1,828,072 ) | (1,129,848 ) |
Class C | (14,574 ) | (17,057 ) |
Institutional Class | (13,831,286 ) | (9,181,389 ) |
Institutional 2 Class | (629,670 ) | (432,012 ) |
Institutional 3 Class | (16,635,496 ) | (11,631,519 ) |
Total distributions to shareholders | (32,939,098 ) | (22,391,825 ) |
Decrease in net assets from capital stock activity | (26,528,511 ) | (62,638,706 ) |
Total decrease in net assets | (94,536,833 ) | (99,715,993 ) |
Net assets at beginning of year | 1,193,119,463 | 1,292,835,456 |
Net assets at end of year | $1,098,582,630 | $1,193,119,463 |
Year Ended | Year Ended | |||
April 30, 2024 | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 2,318,206 | 22,800,306 | 4,981,834 | 51,719,018 |
Distributions reinvested | 68,525 | 673,035 | 37,842 | 383,115 |
Shares redeemed | (2,216,109 ) | (21,801,842 ) | (1,675,602 ) | (17,122,290 ) |
Net increase | 170,622 | 1,671,499 | 3,344,074 | 34,979,843 |
Class C | ||||
Shares sold | 8,387 | 84,164 | 4,772 | 48,327 |
Distributions reinvested | 1,413 | 13,911 | 1,682 | 17,057 |
Shares redeemed | (96,780 ) | (941,850 ) | (160,991 ) | (1,623,685 ) |
Net decrease | (86,980 ) | (843,775 ) | (154,537 ) | (1,558,301 ) |
Institutional Class | ||||
Shares sold | 14,141,642 | 139,133,788 | 12,613,230 | 126,812,970 |
Distributions reinvested | 1,372,645 | 13,487,188 | 880,119 | 8,914,230 |
Shares redeemed | (24,007,129 ) | (236,679,396 ) | (6,904,405 ) | (70,132,989 ) |
Net increase (decrease) | (8,492,842 ) | (84,058,420 ) | 6,588,944 | 65,594,211 |
Institutional 2 Class | ||||
Shares sold | 1,102,329 | 10,785,841 | 1,917,292 | 19,249,047 |
Distributions reinvested | 40,104 | 393,746 | 21,859 | 220,532 |
Shares redeemed | (1,771,872 ) | (17,414,490 ) | (3,325,044 ) | (34,809,795 ) |
Net decrease | (629,439 ) | (6,234,903 ) | (1,385,893 ) | (15,340,216 ) |
Institutional 3 Class | ||||
Shares sold | 29,782,671 | 295,698,975 | 32,582,117 | 333,437,917 |
Distributions reinvested | 1,676,962 | 16,572,744 | 1,137,179 | 11,596,979 |
Shares redeemed | (25,180,927 ) | (249,334,631 ) | (48,027,100 ) | (491,349,139 ) |
Net increase (decrease) | 6,278,706 | 62,937,088 | (14,307,804 ) | (146,314,243 ) |
Total net decrease | (2,759,933 ) | (26,528,511 ) | (5,915,216 ) | (62,638,706 ) |
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 4/30/2024 | $10.20 | 0.28 | (0.58 ) | (0.30 ) | (0.28 ) | — | (0.28 ) |
Year Ended 4/30/2023 | $10.52 | 0.19 | (0.33 ) | (0.14 ) | (0.18 ) | — | (0.18 ) |
Year Ended 4/30/2022 | $11.52 | 0.12 | (0.98 ) | (0.86 ) | (0.12 ) | (0.02 ) | (0.14 ) |
Year Ended 4/30/2021 | $12.30 | 0.14 | (0.71 ) | (0.57 ) | (0.14 ) | (0.07 ) | (0.21 ) |
Year Ended 4/30/2020 | $11.00 | 0.21 | 1.30 | 1.51 | (0.21 ) | — | (0.21 ) |
Institutional Class | |||||||
Year Ended 4/30/2024 | $10.21 | 0.29 | (0.59 ) | (0.30 ) | (0.29 ) | — | (0.29 ) |
Year Ended 4/30/2023 | $10.52 | 0.20 | (0.31 ) | (0.11 ) | (0.20 ) | — | (0.20 ) |
Year Ended 4/30/2022 | $11.53 | 0.14 | (0.99 ) | (0.85 ) | (0.14 ) | (0.02 ) | (0.16 ) |
Year Ended 4/30/2021 | $12.30 | 0.16 | (0.70 ) | (0.54 ) | (0.16 ) | (0.07 ) | (0.23 ) |
Year Ended 4/30/2020 | $11.01 | 0.23 | 1.29 | 1.52 | (0.23 ) | — | (0.23 ) |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $10.19 | 0.29 | (0.59 ) | (0.30 ) | (0.29 ) | — | (0.29 ) |
Year Ended 4/30/2023 | $10.50 | 0.20 | (0.31 ) | (0.11 ) | (0.20 ) | — | (0.20 ) |
Year Ended 4/30/2022 | $11.50 | 0.13 | (0.97 ) | (0.84 ) | (0.14 ) | (0.02 ) | (0.16 ) |
Year Ended 4/30/2021 | $12.27 | 0.16 | (0.70 ) | (0.54 ) | (0.16 ) | (0.07 ) | (0.23 ) |
Year Ended 4/30/2020 | $10.98 | 0.23 | 1.29 | 1.52 | (0.23 ) | — | (0.23 ) |
Institutional 3 Class | |||||||
Year Ended 4/30/2024 | $10.27 | 0.29 | (0.59 ) | (0.30 ) | (0.29 ) | — | (0.29 ) |
Year Ended 4/30/2023 | $10.58 | 0.20 | (0.31 ) | (0.11 ) | (0.20 ) | — | (0.20 ) |
Year Ended 4/30/2022 | $11.59 | 0.14 | (0.99 ) | (0.85 ) | (0.14 ) | (0.02 ) | (0.16 ) |
Year Ended 4/30/2021 | $12.37 | 0.16 | (0.71 ) | (0.55 ) | (0.16 ) | (0.07 ) | (0.23 ) |
Year Ended 4/30/2020 | $11.07 | 0.23 | 1.30 | 1.53 | (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) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Ratios include the impact of voluntary waivers paid by the Investment Manager. For the periods indicated below, if the Investment Manager had not paid these voluntary waivers, the Fund’s net expense ratio would increase by: |
4/30/2021 | 4/30/2020 | |
Class A | 0.03% | 0.10% |
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 4/30/2024 | $9.62 | (3.01% ) | 0.55% | 0.32% (c) | 2.80% | 53% | $66,277 |
Year Ended 4/30/2023 | $10.20 | (1.26% ) | 0.56% | 0.32% (c) | 1.86% | 56% | $68,565 |
Year Ended 4/30/2022 | $10.52 | (7.54% ) | 0.59% | 0.32% (c) | 1.03% | 31% | $35,499 |
Year Ended 4/30/2021 | $11.52 | (4.66% ) | 0.65% | 0.32% (c),(d) | 1.20% | 40% | $48,338 |
Year Ended 4/30/2020 | $12.30 | 13.88% | 0.65% | 0.33% (c),(d) | 1.83% | 54% | $51,890 |
Institutional Class | |||||||
Year Ended 4/30/2024 | $9.62 | (2.96% ) | 0.40% | 0.17% (c) | 2.94% | 53% | $388,594 |
Year Ended 4/30/2023 | $10.21 | (1.02% ) | 0.40% | 0.17% (c) | 1.98% | 56% | $498,884 |
Year Ended 4/30/2022 | $10.52 | (7.48% ) | 0.40% | 0.17% (c) | 1.18% | 31% | $444,883 |
Year Ended 4/30/2021 | $11.53 | (4.44% ) | 0.40% | 0.17% (c) | 1.35% | 40% | $537,273 |
Year Ended 4/30/2020 | $12.30 | 13.95% | 0.40% | 0.18% (c) | 1.98% | 54% | $581,931 |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $9.60 | (2.97% ) | 0.40% | 0.17% | 2.92% | 53% | $20,648 |
Year Ended 4/30/2023 | $10.19 | (1.02% ) | 0.40% | 0.17% | 1.94% | 56% | $28,314 |
Year Ended 4/30/2022 | $10.50 | (7.42% ) | 0.40% | 0.17% | 1.18% | 31% | $43,738 |
Year Ended 4/30/2021 | $11.50 | (4.45% ) | 0.40% | 0.17% | 1.35% | 40% | $53,191 |
Year Ended 4/30/2020 | $12.27 | 13.98% | 0.40% | 0.18% | 1.98% | 54% | $51,284 |
Institutional 3 Class | |||||||
Year Ended 4/30/2024 | $9.68 | (2.92% ) | 0.40% | 0.17% | 2.96% | 53% | $623,064 |
Year Ended 4/30/2023 | $10.27 | (1.00% ) | 0.40% | 0.17% | 1.94% | 56% | $596,470 |
Year Ended 4/30/2022 | $10.58 | (7.44% ) | 0.40% | 0.17% | 1.19% | 31% | $766,175 |
Year Ended 4/30/2021 | $11.59 | (4.49% ) | 0.40% | 0.17% | 1.33% | 40% | $592,772 |
Year Ended 4/30/2020 | $12.37 | 13.97% | 0.40% | 0.18% | 2.00% | 54% | $415,616 |
Front End (%) | CDSC (%) | Amount ($) | |
Class C | — | 1.00 (a) | 6 |
(a) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through August 31, 2024 | |
Class A | 0.32 % |
Institutional Class | 0.17 |
Institutional 2 Class | 0.17 |
Institutional 3 Class | 0.17 |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
32,939,098 | — | 32,939,098 | 22,391,825 | — | 22,391,825 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
2,820,709 | — | (96,281,103 ) | (116,692,600 ) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
1,207,706,886 | 31,199 | (116,723,799 ) | (116,692,600 ) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(10,960,870 ) | (85,320,233 ) | (96,281,103 ) | — |
Section 163(j) Interest Dividends | |
100.00% |
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 and other relevant Board experience |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 161 | 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; former Board Member, Chase Bank International, 1993-1994 |
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 and other relevant Board experience |
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; Trustee of Gerald Rauenhorst 1982 Trusts, since 2020; 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-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 161 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (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; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; 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, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 161 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee, since 2017 and Audit Committee Chair, since November 2023); Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services company), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
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 | 161 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, January 2020-December 2023; Adjunct Professor of Finance, Bentley University January 2018-April 2023; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; 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 | 159 | Former Director, The Autism Project, March 2015-December 2021; 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 (former mutual fund complex), January 2015-December 2017 |
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 and other relevant Board experience |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | 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; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 159 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor Emeritus of Economics and Management, Bentley University, since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 161 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 |
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 | 161 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | 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 | 161 | Director, SpartanNash Company (food distributor), since November 2013 (Chair of the Board, since May 2021); Director, Aircastle Limited (aircraft leasing), since August 2006 (Chair of Audit Committee); 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 | 159 | None |
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 and other relevant Board experience |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 161 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates, January 2013-December 2015 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | 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. | 161 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 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 | 159 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. 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 | 161 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, June 2022-June 2023 |
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 and other relevant Board experience |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 | 161 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds 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, Beckman, Gallagher, Hacker and Moffett and Mses. Blatz, Carlton, Carrig, Flynn, Paglia, and Yeager serve as directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | 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. |
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009); Senior Vice President (2019); Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2024) for CFST, CFST I, CFST II, CFVIT and CFVST II | Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations, March 2022 – June 2023, Vice President, Head of North America Operations, and Co-Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. Director, Ameriprise Trust Company, since June 2023. |
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 |
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. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 - 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, TAM UK International Holdings Limited, since July 2021; formerly Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, March 2013 – December 2022 and December 2008 – December 2022, respectively; senior executive of various entities affiliated with Columbia Threadneedle Investments. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
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; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
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; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
3 | |
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7 | |
8 | |
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26 | |
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34 | |
47 | |
48 | |
48 | |
54 |
Average annual total returns (%) (for the period ended April 30, 2024) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 07/31/00 | 1.72 | 1.36 | 2.05 |
Including sales charges | -3.10 | 0.37 | 1.55 | ||
Advisor Class | 11/08/12 | 2.08 | 1.61 | 2.30 | |
Institutional Class | 03/05/86 | 1.97 | 1.61 | 2.30 | |
Institutional 2 Class | 11/08/12 | 2.10 | 1.71 | 2.41 | |
Institutional 3 Class | 11/08/12 | 2.26 | 1.77 | 2.47 | |
Blended Benchmark | 2.14 | 1.30 | 2.54 | ||
Bloomberg U.S. Corporate Bond Index | 1.00 | 0.89 | 2.23 |
Portfolio breakdown (%) (at April 30, 2024) | |
Common Stocks | 0.0 (a) |
Convertible Bonds | 0.0 (a) |
Corporate Bonds & Notes | 95.3 |
Foreign Government Obligations | 0.1 |
Money Market Funds | 1.7 |
Senior Loans | 0.2 |
U.S. Treasury Obligations | 2.7 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at April 30, 2024) | |
AA rating | 9.5 |
A rating | 30.8 |
BBB rating | 46.0 |
BB rating | 6.7 |
B rating | 5.2 |
CCC rating | 1.7 |
CC rating | 0.0 (a) |
Not rated | 0.1 |
Total | 100.0 |
(a) | Rounds to zero. |
November 1, 2023 — April 30, 2024 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,075.40 | 1,020.64 | 4.39 | 4.27 | 0.85 |
Advisor Class | 1,000.00 | 1,000.00 | 1,076.80 | 1,021.88 | 3.10 | 3.02 | 0.60 |
Institutional Class | 1,000.00 | 1,000.00 | 1,076.80 | 1,021.88 | 3.10 | 3.02 | 0.60 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,077.50 | 1,022.53 | 2.43 | 2.36 | 0.47 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,077.70 | 1,022.77 | 2.17 | 2.11 | 0.42 |
Common Stocks 0.0% | ||
Issuer | Shares | Value ($) |
Financials 0.0% | ||
Financial Services 0.0% | ||
Mr. Cooper Group, Inc.(a) | 1,782 | 137,571 |
Total Financials | 137,571 | |
Total Common Stocks (Cost $1,077,470) | 137,571 |
Convertible Bonds 0.0% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cable and Satellite 0.0% | ||||
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 471,000 | 287,309 | |
Total Convertible Bonds (Cost $456,948) | 287,309 | |||
Corporate Bonds & Notes 94.3% | ||||
Aerospace & Defense 6.1% | ||||
BAE Systems Holdings, Inc.(b) | ||||
10/07/2024 | 3.800% | 3,635,000 | 3,601,642 | |
BAE Systems PLC(b) | ||||
03/26/2029 | 5.125% | 2,015,000 | 1,978,519 | |
02/15/2031 | 1.900% | 29,890,000 | 23,747,615 | |
Boeing Co. (The) | ||||
08/01/2059 | 3.950% | 15,172,000 | 9,489,223 | |
05/01/2060 | 5.930% | 1,330,000 | 1,162,539 | |
Boeing Co. (The)(b),(c) | ||||
05/01/2064 | 7.008% | 1,724,000 | 1,725,335 | |
Bombardier, Inc.(b) | ||||
04/15/2027 | 7.875% | 144,000 | 143,417 | |
07/01/2031 | 7.250% | 147,000 | 147,416 | |
L3Harris Technologies, Inc. | ||||
07/31/2033 | 5.400% | 4,690,000 | 4,567,853 | |
06/01/2034 | 5.350% | 7,660,000 | 7,406,201 | |
Lockheed Martin Corp. | ||||
08/15/2034 | 4.800% | 16,000,000 | 15,318,227 | |
Moog, Inc.(b) | ||||
12/15/2027 | 4.250% | 139,000 | 129,940 | |
Northrop Grumman Corp. | ||||
06/01/2054 | 5.200% | 11,825,000 | 10,870,129 | |
Raytheon Technologies Corp. | ||||
03/15/2032 | 2.375% | 19,696,000 | 15,750,592 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Spirit AeroSystems, Inc.(b) | ||||
11/30/2029 | 9.375% | 325,000 | 351,827 | |
11/15/2030 | 9.750% | 389,000 | 430,381 | |
TransDigm, Inc.(b) | ||||
08/15/2028 | 6.750% | 567,000 | 569,348 | |
03/01/2029 | 6.375% | 1,180,000 | 1,172,572 | |
03/01/2032 | 6.625% | 1,205,000 | 1,204,101 | |
Total | 99,766,877 | |||
Airlines 0.3% | ||||
Air Canada(b) | ||||
08/15/2026 | 3.875% | 520,000 | 493,506 | |
American Airlines, Inc.(b) | ||||
05/15/2029 | 8.500% | 200,000 | 208,311 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(b) | ||||
04/20/2026 | 5.500% | 1,548,138 | 1,530,812 | |
04/20/2029 | 5.750% | 179,155 | 173,026 | |
Hawaiian Brand Intellectual Property Ltd./Miles Loyalty Ltd.(b) | ||||
01/20/2026 | 5.750% | 949,003 | 891,248 | |
United Airlines, Inc.(b) | ||||
04/15/2026 | 4.375% | 219,000 | 210,763 | |
04/15/2029 | 4.625% | 245,000 | 225,934 | |
United Airlines, Inc. Pass-Through Trust | ||||
10/15/2027 | 5.875% | 909,081 | 903,561 | |
Total | 4,637,161 | |||
Automotive 0.4% | ||||
American Axle & Manufacturing, Inc. | ||||
03/15/2026 | 6.250% | 142,000 | 140,759 | |
Clarios Global LP(b) | ||||
05/15/2025 | 6.750% | 80,000 | 80,086 | |
Ford Motor Credit Co. LLC | ||||
09/08/2024 | 3.664% | 1,168,000 | 1,157,973 | |
06/16/2025 | 5.125% | 256,000 | 253,243 | |
08/04/2025 | 4.134% | 828,000 | 807,775 | |
11/13/2025 | 3.375% | 610,000 | 585,747 | |
General Motors Co. | ||||
04/01/2048 | 5.400% | 2,835,000 | 2,476,059 | |
KAR Auction Services, Inc.(b) | ||||
06/01/2025 | 5.125% | 110,000 | 108,363 | |
Panther BF Aggregator 2 LP/Finance Co., Inc.(b) | ||||
05/15/2026 | 6.250% | 60,000 | 59,939 | |
05/15/2027 | 8.500% | 703,000 | 703,893 | |
ZF North America Capital, Inc.(b) | ||||
04/14/2030 | 7.125% | 314,000 | 321,168 | |
04/23/2032 | 6.875% | 413,000 | 417,448 | |
Total | 7,112,453 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Banking 15.0% | ||||
Ally Financial, Inc. | ||||
05/21/2024 | 3.875% | 171,000 | 170,792 | |
Bank of America Corp.(d) | ||||
10/24/2031 | 1.922% | 34,690,000 | 27,573,350 | |
10/20/2032 | 2.572% | 11,161,000 | 9,004,836 | |
02/04/2033 | 2.972% | 11,010,000 | 9,076,657 | |
Subordinated | ||||
09/21/2036 | 2.482% | 4,644,000 | 3,631,134 | |
Citigroup, Inc.(d) | ||||
06/03/2031 | 2.572% | 12,483,000 | 10,436,799 | |
01/25/2033 | 3.057% | 12,863,000 | 10,652,870 | |
Goldman Sachs Group, Inc. (The)(d) | ||||
07/21/2032 | 2.383% | 27,628,000 | 22,087,816 | |
10/21/2032 | 2.650% | 6,082,000 | 4,923,175 | |
HSBC Holdings PLC(d) | ||||
05/24/2032 | 2.804% | 11,340,000 | 9,253,198 | |
11/22/2032 | 2.871% | 5,409,000 | 4,382,225 | |
JPMorgan Chase & Co.(d) | ||||
04/22/2032 | 2.580% | 12,828,000 | 10,556,641 | |
11/08/2032 | 2.545% | 26,490,000 | 21,450,531 | |
04/22/2035 | 5.766% | 18,475,000 | 18,509,805 | |
Morgan Stanley(d) | ||||
07/21/2032 | 2.239% | 17,509,000 | 13,914,446 | |
10/20/2032 | 2.511% | 6,031,000 | 4,850,605 | |
04/19/2035 | 5.831% | 10,876,000 | 10,881,724 | |
Subordinated | ||||
09/16/2036 | 2.484% | 11,454,000 | 8,844,367 | |
PNC Financial Services Group, Inc. (The)(d) | ||||
01/22/2035 | 5.676% | 3,451,000 | 3,381,608 | |
US Bancorp(d) | ||||
06/12/2034 | 5.836% | 4,671,000 | 4,613,151 | |
01/23/2035 | 5.678% | 3,735,000 | 3,649,411 | |
Washington Mutual Bank(e),(f),(g) | ||||
Subordinated | ||||
01/15/2015 | 0.000% | 6,350,000 | 9,525 | |
Wells Fargo & Co.(d) | ||||
10/30/2030 | 2.879% | 4,553,000 | 3,952,324 | |
07/25/2034 | 5.557% | 28,962,000 | 28,216,350 | |
Total | 244,023,340 | |||
Brokerage/Asset Managers/Exchanges 0.1% | ||||
AG Issuer LLC(b) | ||||
03/01/2028 | 6.250% | 350,000 | 338,782 | |
AG TTMT Escrow Issuer LLC(b) | ||||
09/30/2027 | 8.625% | 448,000 | 461,443 | |
Aretec Escrow Issuer 2, Inc.(b) | ||||
08/15/2030 | 10.000% | 541,000 | 587,761 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Aretec Escrow Issuer, Inc.(b) | ||||
04/01/2029 | 7.500% | 242,000 | 228,188 | |
Hightower Holding LLC(b) | ||||
04/15/2029 | 6.750% | 455,000 | 427,141 | |
Total | 2,043,315 | |||
Building Materials 0.3% | ||||
American Builders & Contractors Supply Co., Inc.(b) | ||||
01/15/2028 | 4.000% | 455,000 | 418,823 | |
Beacon Roofing Supply, Inc.(b) | ||||
11/15/2026 | 4.500% | 550,000 | 527,879 | |
08/01/2030 | 6.500% | 292,000 | 291,548 | |
Interface, Inc.(b) | ||||
12/01/2028 | 5.500% | 210,000 | 197,718 | |
James Hardie International Finance DAC(b) | ||||
01/15/2028 | 5.000% | 572,000 | 549,565 | |
SRS Distribution, Inc.(b) | ||||
07/01/2028 | 4.625% | 792,000 | 789,214 | |
07/01/2029 | 6.125% | 439,000 | 446,223 | |
12/01/2029 | 6.000% | 488,000 | 494,398 | |
Summit Materials LLC /Finance Corp.(b) | ||||
01/15/2031 | 7.250% | 472,000 | 484,822 | |
Summit Materials LLC/Finance Corp.(b) | ||||
01/15/2029 | 5.250% | 78,000 | 74,970 | |
White Cap Buyer LLC(b) | ||||
10/15/2028 | 6.875% | 567,000 | 547,759 | |
Total | 4,822,919 | |||
Cable and Satellite 2.8% | ||||
CCO Holdings LLC/Capital Corp.(b) | ||||
05/01/2027 | 5.125% | 163,000 | 152,863 | |
03/01/2030 | 4.750% | 1,424,000 | 1,184,225 | |
02/01/2031 | 4.250% | 1,353,000 | 1,062,084 | |
02/01/2032 | 4.750% | 531,000 | 416,984 | |
CCO Holdings LLC/Capital Corp. | ||||
05/01/2032 | 4.500% | 942,000 | 721,648 | |
CCO Holdings LLC/Holdings Capital Corp.(b) | ||||
01/15/2034 | 4.250% | 500,000 | 362,432 | |
Charter Communications Operating LLC/Capital | ||||
05/01/2047 | 5.375% | 19,808,000 | 15,169,079 | |
12/01/2061 | 4.400% | 981,000 | 607,336 | |
06/30/2062 | 3.950% | 6,920,000 | 3,934,730 | |
Comcast Corp. | ||||
10/15/2030 | 4.250% | 12,340,000 | 11,586,138 | |
CSC Holdings LLC(b) | ||||
02/01/2028 | 5.375% | 750,000 | 577,167 | |
01/31/2029 | 11.750% | 258,000 | 230,378 | |
01/15/2030 | 5.750% | 664,000 | 290,550 | |
12/01/2030 | 4.125% | 399,000 | 254,501 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
02/15/2031 | 3.375% | 504,000 | 311,898 | |
DISH Network Corp.(b) | ||||
11/15/2027 | 11.750% | 996,000 | 1,004,501 | |
NBCUniversal Media LLC | ||||
01/15/2043 | 4.450% | 1,810,000 | 1,519,786 | |
Sirius XM Radio, Inc.(b) | ||||
09/01/2026 | 3.125% | 1,933,000 | 1,802,917 | |
07/15/2028 | 4.000% | 641,000 | 571,066 | |
07/01/2030 | 4.125% | 461,000 | 391,850 | |
Videotron Ltd.(b) | ||||
06/15/2029 | 3.625% | 255,000 | 226,688 | |
Virgin Media Finance PLC(b) | ||||
07/15/2030 | 5.000% | 677,000 | 554,264 | |
Virgin Media Secured Finance PLC(b) | ||||
05/15/2029 | 5.500% | 168,000 | 152,841 | |
VZ Secured Financing BV(b) | ||||
01/15/2032 | 5.000% | 990,000 | 835,523 | |
Ziggo Bond Co. BV(b) | ||||
02/28/2030 | 5.125% | 509,000 | 422,801 | |
Ziggo Bond Finance BV(b) | ||||
01/15/2027 | 6.000% | 501,000 | 492,604 | |
Ziggo BV(b) | ||||
01/15/2030 | 4.875% | 652,000 | 571,306 | |
Total | 45,408,160 | |||
Chemicals 0.7% | ||||
Avient Corp.(b) | ||||
08/01/2030 | 7.125% | 237,000 | 240,031 | |
Axalta Coating Systems LLC(b) | ||||
02/15/2029 | 3.375% | 650,000 | 571,959 | |
Axalta Coating Systems LLC/Dutch Holding B BV(b) | ||||
06/15/2027 | 4.750% | 265,000 | 254,042 | |
Cheever Escrow Issuer LLC(b) | ||||
10/01/2027 | 7.125% | 554,000 | 560,732 | |
Element Solutions, Inc.(b) | ||||
09/01/2028 | 3.875% | 533,000 | 480,292 | |
HB Fuller Co. | ||||
10/15/2028 | 4.250% | 818,000 | 755,337 | |
Herens Holdco Sarl(b) | ||||
05/15/2028 | 4.750% | 714,000 | 621,077 | |
Illuminate Buyer LLC/Holdings IV, Inc.(b) | ||||
07/01/2028 | 9.000% | 355,000 | 347,136 | |
INEOS Finance PLC(b) | ||||
04/15/2029 | 7.500% | 757,000 | 762,063 | |
INEOS Quattro Finance 2 PLC(b) | ||||
03/15/2029 | 9.625% | 537,000 | 567,114 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Ingevity Corp.(b) | ||||
11/01/2028 | 3.875% | 366,000 | 326,074 | |
Innophos Holdings, Inc.(b) | ||||
02/15/2028 | 9.375% | 401,000 | 346,539 | |
Iris Holdings, Inc.(b),(h) | ||||
02/15/2026 | 8.750% | 245,000 | 207,241 | |
Olympus Water US Holding Corp.(b) | ||||
10/01/2028 | 4.250% | 432,000 | 389,220 | |
11/15/2028 | 9.750% | 956,000 | 1,015,277 | |
10/01/2029 | 6.250% | 393,000 | 353,232 | |
SPCM SA(b) | ||||
03/15/2027 | 3.125% | 46,000 | 42,357 | |
WR Grace Holdings LLC(b) | ||||
06/15/2027 | 4.875% | 3,063,000 | 2,908,974 | |
08/15/2029 | 5.625% | 675,000 | 605,309 | |
03/01/2031 | 7.375% | 149,000 | 151,066 | |
Total | 11,505,072 | |||
Construction Machinery 0.1% | ||||
H&E Equipment Services, Inc.(b) | ||||
12/15/2028 | 3.875% | 895,000 | 792,035 | |
Ritchie Bros Holdings, Inc.(b) | ||||
03/15/2028 | 6.750% | 125,000 | 126,269 | |
03/15/2031 | 7.750% | 292,000 | 302,921 | |
United Rentals North America, Inc. | ||||
05/15/2027 | 5.500% | 49,000 | 48,321 | |
02/15/2031 | 3.875% | 181,000 | 158,737 | |
01/15/2032 | 3.750% | 211,000 | 180,257 | |
Total | 1,608,540 | |||
Consumer Cyclical Services 0.2% | ||||
APX Group, Inc.(b) | ||||
07/15/2029 | 5.750% | 68,000 | 63,160 | |
Arches Buyer, Inc.(b) | ||||
06/01/2028 | 4.250% | 600,000 | 514,666 | |
12/01/2028 | 6.125% | 612,000 | 502,991 | |
Match Group Holdings II LLC(b) | ||||
10/01/2031 | 3.625% | 590,000 | 487,126 | |
Match Group, Inc.(b) | ||||
06/01/2028 | 4.625% | 174,000 | 161,022 | |
Uber Technologies, Inc.(b) | ||||
01/15/2028 | 6.250% | 257,000 | 256,546 | |
08/15/2029 | 4.500% | 1,635,000 | 1,527,840 | |
Total | 3,513,351 | |||
Consumer Products 0.2% | ||||
Acushnet Co.(b) | ||||
10/15/2028 | 7.375% | 114,000 | 117,025 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CD&R Smokey Buyer, Inc.(b) | ||||
07/15/2025 | 6.750% | 1,089,000 | 1,083,761 | |
Newell Brands, Inc. | ||||
06/01/2025 | 4.875% | 92,000 | 90,545 | |
09/15/2027 | 6.375% | 169,000 | 165,830 | |
Prestige Brands, Inc.(b) | ||||
01/15/2028 | 5.125% | 509,000 | 488,803 | |
04/01/2031 | 3.750% | 237,000 | 201,665 | |
Scotts Miracle-Gro Co. (The) | ||||
04/01/2031 | 4.000% | 150,000 | 126,506 | |
02/01/2032 | 4.375% | 237,000 | 199,418 | |
Spectrum Brands, Inc.(b) | ||||
10/01/2029 | 5.000% | 492,000 | 479,664 | |
07/15/2030 | 5.500% | 184,000 | 178,439 | |
Total | 3,131,656 | |||
Diversified Manufacturing 1.9% | ||||
Carrier Global Corp. | ||||
02/15/2030 | 2.722% | 27,543,000 | 23,782,888 | |
Chart Industries, Inc.(b) | ||||
01/01/2030 | 7.500% | 282,000 | 288,610 | |
Emerald Debt Merger Sub LLC(b) | ||||
12/15/2030 | 6.625% | 1,548,000 | 1,537,068 | |
Esab Corp.(b) | ||||
04/15/2029 | 6.250% | 266,000 | 265,092 | |
Gates Global LLC/Co.(b) | ||||
01/15/2026 | 6.250% | 807,000 | 807,163 | |
Madison IAQ LLC(b) | ||||
06/30/2028 | 4.125% | 383,000 | 355,226 | |
06/30/2029 | 5.875% | 538,000 | 499,560 | |
Resideo Funding, Inc.(b) | ||||
09/01/2029 | 4.000% | 422,000 | 369,838 | |
Vertical US Newco, Inc.(b) | ||||
07/15/2027 | 5.250% | 644,000 | 615,952 | |
WESCO Distribution, Inc.(b) | ||||
06/15/2025 | 7.125% | 302,000 | 302,272 | |
06/15/2028 | 7.250% | 603,000 | 613,279 | |
03/15/2029 | 6.375% | 496,000 | 493,194 | |
03/15/2032 | 6.625% | 638,000 | 634,843 | |
Total | 30,564,985 | |||
Electric 13.6% | ||||
AEP Texas, Inc. | ||||
06/01/2033 | 5.400% | 4,773,000 | 4,596,634 | |
01/15/2050 | 3.450% | 14,242,000 | 9,295,388 | |
05/15/2051 | 3.450% | 781,000 | 500,425 | |
AES Corp. (The) | ||||
01/15/2031 | 2.450% | 3,865,000 | 3,110,485 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
American Transmission Systems, Inc.(b) | ||||
01/15/2032 | 2.650% | 6,334,000 | 5,113,024 | |
CenterPoint Energy, Inc. | ||||
09/01/2024 | 2.500% | 3,517,000 | 3,475,642 | |
08/10/2026 | 5.250% | 16,125,000 | 16,007,840 | |
Clearway Energy Operating LLC(b) | ||||
03/15/2028 | 4.750% | 1,218,000 | 1,148,513 | |
02/15/2031 | 3.750% | 1,052,000 | 889,497 | |
01/15/2032 | 3.750% | 215,000 | 178,121 | |
Commonwealth Edison Co. | ||||
03/01/2030 | 2.200% | 2,237,000 | 1,877,858 | |
Dominion Energy, Inc. | ||||
08/15/2052 | 4.850% | 3,710,000 | 3,110,064 | |
DTE Energy Co. | ||||
03/01/2029 | 5.100% | 21,455,000 | 20,957,708 | |
06/15/2029 | 3.400% | 2,351,000 | 2,112,843 | |
Duke Energy Carolinas LLC | ||||
01/15/2054 | 5.400% | 12,250,000 | 11,515,474 | |
Duke Energy Corp. | ||||
08/15/2052 | 5.000% | 1,652,000 | 1,406,699 | |
Duke Energy Florida LLC | ||||
11/15/2053 | 6.200% | 3,497,000 | 3,644,045 | |
Duke Energy Indiana LLC | ||||
04/01/2050 | 2.750% | 4,029,000 | 2,366,473 | |
04/01/2053 | 5.400% | 9,860,000 | 9,121,839 | |
Edison International | ||||
11/15/2028 | 5.250% | 8,457,000 | 8,285,943 | |
Emera US Finance LP | ||||
06/15/2046 | 4.750% | 4,597,000 | 3,589,546 | |
Eversource Energy | ||||
10/01/2024 | 2.900% | 5,000,000 | 4,936,163 | |
08/15/2030 | 1.650% | 23,726,000 | 18,609,305 | |
Exelon Corp. | ||||
03/15/2034 | 5.450% | 2,929,000 | 2,848,291 | |
03/15/2053 | 5.600% | 7,260,000 | 6,885,187 | |
FirstEnergy Corp. | ||||
03/01/2050 | 3.400% | 2,000,000 | 1,283,602 | |
Georgia Power Co. | ||||
05/17/2033 | 4.950% | 9,346,000 | 8,899,073 | |
Jersey Central Power & Light Co.(b) | ||||
03/01/2032 | 2.750% | 1,783,000 | 1,446,748 | |
Leeward Renewable Energy Operations LLC(b) | ||||
07/01/2029 | 4.250% | 130,000 | 107,585 | |
NextEra Energy Capital Holdings, Inc. | ||||
03/15/2054 | 5.550% | 4,730,000 | 4,418,827 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NextEra Energy Operating Partners LP(b) | ||||
10/15/2026 | 3.875% | 145,000 | 135,689 | |
09/15/2027 | 4.500% | 928,000 | 864,789 | |
01/15/2029 | 7.250% | 417,000 | 422,786 | |
NRG Energy, Inc. | ||||
01/15/2028 | 5.750% | 7,000 | 6,883 | |
NRG Energy, Inc.(b) | ||||
06/15/2029 | 5.250% | 1,228,000 | 1,162,668 | |
Pacific Gas and Electric Co. | ||||
07/01/2050 | 4.950% | 12,925,000 | 10,519,534 | |
PG&E Corp. | ||||
07/01/2030 | 5.250% | 398,000 | 372,892 | |
San Diego Gas & Electric Co. | ||||
08/15/2028 | 4.950% | 6,360,000 | 6,270,526 | |
Southern California Edison Co. | ||||
06/01/2034 | 5.200% | 8,186,000 | 7,818,983 | |
TerraForm Power Operating LLC(b) | ||||
01/15/2030 | 4.750% | 980,000 | 874,562 | |
Virginia Electric and Power Co. | ||||
01/15/2034 | 5.000% | 7,866,000 | 7,484,161 | |
Vistra Operations Co. LLC(b) | ||||
09/01/2026 | 5.500% | 159,000 | 155,158 | |
02/15/2027 | 5.625% | 408,000 | 396,928 | |
07/31/2027 | 5.000% | 252,000 | 239,825 | |
05/01/2029 | 4.375% | 310,000 | 282,601 | |
10/15/2031 | 7.750% | 749,000 | 770,029 | |
04/15/2032 | 6.875% | 325,000 | 323,523 | |
WEC Energy Group, Inc. | ||||
09/12/2026 | 5.600% | 5,730,000 | 5,736,839 | |
10/15/2030 | 1.800% | 12,256,000 | 9,790,645 | |
Xcel Energy, Inc. | ||||
11/15/2031 | 2.350% | 7,311,000 | 5,756,922 | |
Total | 221,124,785 | |||
Environmental 0.6% | ||||
Clean Harbors, Inc.(b) | ||||
02/01/2031 | 6.375% | 90,000 | 89,138 | |
GFL Environmental, Inc.(b) | ||||
06/01/2025 | 4.250% | 95,000 | 93,724 | |
08/01/2025 | 3.750% | 7,660,000 | 7,455,533 | |
12/15/2026 | 5.125% | 364,000 | 355,542 | |
08/01/2028 | 4.000% | 320,000 | 290,468 | |
06/15/2029 | 4.750% | 509,000 | 469,667 | |
01/15/2031 | 6.750% | 649,000 | 654,666 | |
Waste Pro USA, Inc.(b) | ||||
02/15/2026 | 5.500% | 941,000 | 920,496 | |
Total | 10,329,234 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Finance Companies 0.4% | ||||
GGAM Finance Ltd.(b) | ||||
02/15/2027 | 8.000% | 555,000 | 569,957 | |
04/15/2029 | 6.875% | 391,000 | 391,330 | |
Navient Corp. | ||||
10/25/2024 | 5.875% | 111,000 | 110,608 | |
06/15/2026 | 6.750% | 475,000 | 473,978 | |
03/15/2031 | 11.500% | 411,000 | 449,413 | |
OneMain Finance Corp. | ||||
01/15/2029 | 9.000% | 621,000 | 652,429 | |
03/15/2030 | 7.875% | 499,000 | 509,258 | |
09/15/2030 | 4.000% | 153,000 | 128,797 | |
Provident Funding Associates LP/Finance Corp.(b) | ||||
06/15/2025 | 6.375% | 325,000 | 312,956 | |
Quicken Loans LLC/Co-Issuer, Inc.(b) | ||||
03/01/2029 | 3.625% | 321,000 | 282,938 | |
Rocket Mortgage LLC/Co-Issuer, Inc.(b) | ||||
10/15/2033 | 4.000% | 2,090,000 | 1,706,111 | |
Springleaf Finance Corp. | ||||
11/15/2029 | 5.375% | 33,000 | 30,511 | |
United Wholesale Mortgage LLC(b) | ||||
06/15/2027 | 5.750% | 107,000 | 102,756 | |
04/15/2029 | 5.500% | 30,000 | 27,890 | |
Total | 5,748,932 | |||
Food and Beverage 6.4% | ||||
Bacardi Ltd./Bacardi-Martini BV(b) | ||||
06/15/2033 | 5.400% | 27,730,000 | 26,625,926 | |
Campbell Soup Co. | ||||
03/21/2034 | 5.400% | 14,732,000 | 14,348,951 | |
Chobani LLC/Finance Corp., Inc.(b) | ||||
07/01/2029 | 7.625% | 183,000 | 185,276 | |
Constellation Brands, Inc. | ||||
05/01/2033 | 4.900% | 9,970,000 | 9,406,582 | |
Darling Ingredients, Inc.(b) | ||||
06/15/2030 | 6.000% | 552,000 | 536,936 | |
Diageo Capital PLC | ||||
10/05/2033 | 5.625% | 6,885,000 | 7,009,531 | |
FAGE International SA/USA Dairy Industry, Inc.(b) | ||||
08/15/2026 | 5.625% | 1,159,000 | 1,142,672 | |
Kraft Heinz Foods Co. | ||||
06/01/2026 | 3.000% | 12,937,000 | 12,343,607 | |
Mars, Inc.(b) | ||||
04/20/2033 | 4.750% | 11,219,000 | 10,717,801 | |
Mondelez International, Inc. | ||||
03/17/2027 | 2.625% | 7,780,000 | 7,225,275 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Pepsico Singapore Financing I Pte Ltd. | ||||
02/16/2027 | 4.650% | 10,131,000 | 9,972,041 | |
Post Holdings, Inc.(b) | ||||
04/15/2030 | 4.625% | 736,000 | 664,260 | |
09/15/2031 | 4.500% | 523,000 | 460,653 | |
02/15/2032 | 6.250% | 435,000 | 429,666 | |
Primo Water Holdings, Inc.(b) | ||||
04/30/2029 | 4.375% | 309,000 | 281,776 | |
Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed(b) | ||||
03/01/2029 | 4.625% | 1,047,000 | 904,652 | |
Triton Water Holdings, Inc.(b) | ||||
04/01/2029 | 6.250% | 510,000 | 457,430 | |
US Foods, Inc.(b) | ||||
09/15/2028 | 6.875% | 303,000 | 306,110 | |
02/15/2029 | 4.750% | 523,000 | 488,184 | |
06/01/2030 | 4.625% | 354,000 | 322,339 | |
01/15/2032 | 7.250% | 282,000 | 288,518 | |
Total | 104,118,186 | |||
Gaming 0.6% | ||||
Boyd Gaming Corp. | ||||
12/01/2027 | 4.750% | 205,000 | 194,512 | |
Boyd Gaming Corp.(b) | ||||
06/15/2031 | 4.750% | 503,000 | 446,019 | |
Caesars Entertainment, Inc.(b) | ||||
10/15/2029 | 4.625% | 1,543,000 | 1,375,734 | |
02/15/2030 | 7.000% | 913,000 | 919,557 | |
02/15/2032 | 6.500% | 756,000 | 744,719 | |
CDI Escrow Issuer, Inc.(b) | ||||
04/01/2030 | 5.750% | 500,000 | 476,823 | |
Churchill Downs, Inc.(b) | ||||
05/01/2031 | 6.750% | 284,000 | 281,882 | |
Colt Merger Sub, Inc.(b) | ||||
07/01/2027 | 8.125% | 56,000 | 56,819 | |
International Game Technology PLC(b) | ||||
04/15/2026 | 4.125% | 2,003,000 | 1,928,522 | |
Light & Wonder International, Inc.(b) | ||||
09/01/2031 | 7.500% | 127,000 | 129,488 | |
MGM Resorts International | ||||
05/01/2025 | 6.750% | 1,375,000 | 1,375,000 | |
Midwest Gaming Borrower LLC(b) | ||||
05/01/2029 | 4.875% | 414,000 | 378,266 | |
Penn National Gaming, Inc.(b) | ||||
07/01/2029 | 4.125% | 242,000 | 202,577 | |
Scientific Games Holdings LP/US FinCo, Inc.(b) | ||||
03/01/2030 | 6.625% | 747,000 | 707,090 | |
Scientific Games International, Inc.(b) | ||||
11/15/2029 | 7.250% | 579,000 | 584,968 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Wynn Resorts Finance LLC/Capital Corp.(b) | ||||
10/01/2029 | 5.125% | 126,000 | 116,941 | |
Total | 9,918,917 | |||
Health Care 3.8% | ||||
Acadia Healthcare Co., Inc.(b) | ||||
07/01/2028 | 5.500% | 1,258,000 | 1,211,832 | |
Avantor Funding, Inc.(b) | ||||
07/15/2028 | 4.625% | 914,000 | 849,372 | |
11/01/2029 | 3.875% | 941,000 | 832,416 | |
Bausch & Lomb Escrow Corp.(b) | ||||
10/01/2028 | 8.375% | 478,000 | 493,362 | |
Becton Dickinson & Co. | ||||
02/08/2029 | 4.874% | 18,188,000 | 17,764,278 | |
Catalent Pharma Solutions, Inc.(b) | ||||
04/01/2030 | 3.500% | 501,000 | 476,808 | |
Charles River Laboratories International, Inc.(b) | ||||
03/15/2029 | 3.750% | 148,000 | 133,208 | |
03/15/2031 | 4.000% | 194,000 | 169,419 | |
CHS/Community Health Systems, Inc.(b) | ||||
03/15/2027 | 5.625% | 628,000 | 575,239 | |
04/15/2029 | 6.875% | 459,000 | 340,112 | |
05/15/2030 | 5.250% | 1,288,000 | 1,054,934 | |
02/15/2031 | 4.750% | 394,000 | 307,913 | |
01/15/2032 | 10.875% | 212,000 | 217,298 | |
Cigna Group (The) | ||||
02/15/2054 | 5.600% | 3,215,000 | 3,031,616 | |
CVS Health Corp. | ||||
07/20/2045 | 5.125% | 8,270,000 | 7,171,778 | |
DaVita, Inc.(b) | ||||
06/01/2030 | 4.625% | 235,000 | 206,095 | |
Encompass Health Corp. | ||||
02/01/2028 | 4.500% | 520,000 | 487,631 | |
HCA, Inc. | ||||
06/01/2028 | 5.200% | 2,648,000 | 2,602,120 | |
09/01/2030 | 3.500% | 17,133,000 | 15,103,696 | |
Indigo Merger Sub, Inc.(b) | ||||
07/15/2026 | 2.875% | 200,000 | 186,845 | |
IQVIA, Inc.(b) | ||||
05/15/2030 | 6.500% | 239,000 | 240,456 | |
Medline Borrower LP/Co-Issuer, Inc.(b) | ||||
04/01/2029 | 6.250% | 388,000 | 385,470 | |
Mozart Debt Merger Sub, Inc.(b) | ||||
04/01/2029 | 3.875% | 100,000 | 89,525 | |
10/01/2029 | 5.250% | 1,422,000 | 1,324,117 | |
Select Medical Corp.(b) | ||||
08/15/2026 | 6.250% | 1,121,000 | 1,121,179 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Star Parent, Inc.(b) | ||||
10/01/2030 | 9.000% | 896,000 | 938,413 | |
Surgery Center Holdings, Inc.(b) | ||||
04/15/2032 | 7.250% | 411,000 | 410,395 | |
Tenet Healthcare Corp. | ||||
02/01/2027 | 6.250% | 394,000 | 392,801 | |
11/01/2027 | 5.125% | 1,793,000 | 1,735,088 | |
10/01/2028 | 6.125% | 721,000 | 712,628 | |
Tenet Healthcare Corp.(b) | ||||
05/15/2031 | 6.750% | 716,000 | 718,137 | |
Total | 61,284,181 | |||
Healthcare Insurance 4.4% | ||||
Aetna, Inc. | ||||
11/15/2042 | 4.125% | 2,686,000 | 2,075,530 | |
08/15/2047 | 3.875% | 1,157,000 | 828,975 | |
Centene Corp. | ||||
02/15/2030 | 3.375% | 7,594,000 | 6,605,345 | |
10/15/2030 | 3.000% | 16,581,000 | 13,886,079 | |
03/01/2031 | 2.500% | 19,592,000 | 15,750,283 | |
UnitedHealth Group, Inc. | ||||
04/15/2031 | 4.900% | 8,503,000 | 8,274,258 | |
04/15/2034 | 5.000% | 22,009,000 | 21,300,022 | |
04/15/2064 | 5.500% | 3,075,000 | 2,917,850 | |
Total | 71,638,342 | |||
Home Construction 0.0% | ||||
Shea Homes LP/Funding Corp. | ||||
02/15/2028 | 4.750% | 171,000 | 160,486 | |
04/01/2029 | 4.750% | 65,000 | 59,651 | |
Taylor Morrison Communities, Inc.(b) | ||||
01/15/2028 | 5.750% | 193,000 | 187,963 | |
08/01/2030 | 5.125% | 355,000 | 330,562 | |
Total | 738,662 | |||
Independent Energy 1.1% | ||||
Baytex Energy Corp.(b) | ||||
04/30/2030 | 8.500% | 148,000 | 154,203 | |
03/15/2032 | 7.375% | 870,000 | 880,060 | |
Canadian Natural Resources Ltd. | ||||
06/01/2027 | 3.850% | 4,885,000 | 4,648,373 | |
Civitas Resources, Inc.(b) | ||||
07/01/2028 | 8.375% | 174,000 | 181,562 | |
11/01/2030 | 8.625% | 155,000 | 165,406 | |
07/01/2031 | 8.750% | 192,000 | 204,003 | |
CNX Resources Corp.(b) | ||||
01/15/2029 | 6.000% | 519,000 | 503,974 | |
01/15/2031 | 7.375% | 200,000 | 202,663 | |
Colgate Energy Partners III LLC(b) | ||||
07/01/2029 | 5.875% | 1,402,000 | 1,365,381 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Comstock Resources, Inc.(b) | ||||
03/01/2029 | 6.750% | 235,000 | 224,080 | |
03/01/2029 | 6.750% | 135,000 | 127,130 | |
01/15/2030 | 5.875% | 299,000 | 272,694 | |
CrownRock LP/Finance, Inc.(b) | ||||
10/15/2025 | 5.625% | 219,000 | 217,718 | |
05/01/2029 | 5.000% | 153,000 | 151,020 | |
Diamondback Energy, Inc. | ||||
04/18/2064 | 5.900% | 4,205,000 | 4,000,951 | |
Endeavor Energy Resources LP/Finance, Inc.(b) | ||||
01/30/2028 | 5.750% | 158,000 | 161,027 | |
Hilcorp Energy I LP/Finance Co.(b) | ||||
02/01/2029 | 5.750% | 731,000 | 704,183 | |
04/15/2030 | 6.000% | 226,000 | 216,695 | |
02/01/2031 | 6.000% | 300,000 | 287,343 | |
04/15/2032 | 6.250% | 353,000 | 341,840 | |
11/01/2033 | 8.375% | 339,000 | 363,780 | |
Matador Resources Co.(b) | ||||
04/15/2028 | 6.875% | 297,000 | 299,370 | |
04/15/2032 | 6.500% | 583,000 | 577,803 | |
Permian Resources Operating LLC(b) | ||||
01/15/2032 | 7.000% | 1,009,000 | 1,029,955 | |
Southwestern Energy Co. | ||||
02/01/2029 | 5.375% | 227,000 | 217,766 | |
02/01/2032 | 4.750% | 991,000 | 892,399 | |
Total | 18,391,379 | |||
Integrated Energy 1.2% | ||||
BP Capital Markets America, Inc. | ||||
04/10/2034 | 4.989% | 16,703,000 | 16,137,194 | |
Cenovus Energy, Inc. | ||||
02/15/2052 | 3.750% | 5,913,000 | 4,099,417 | |
Total | 20,236,611 | |||
Leisure 0.6% | ||||
Boyne USA, Inc.(b) | ||||
05/15/2029 | 4.750% | 166,000 | 151,114 | |
Carnival Corp.(b) | ||||
03/01/2027 | 5.750% | 934,000 | 910,636 | |
08/01/2028 | 4.000% | 740,000 | 675,443 | |
08/15/2029 | 7.000% | 212,000 | 217,551 | |
Carnival Holdings Bermuda Ltd.(b) | ||||
05/01/2028 | 10.375% | 354,000 | 383,775 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op(b) | ||||
05/01/2025 | 5.500% | 300,000 | 300,000 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op | ||||
10/01/2028 | 6.500% | 472,000 | 471,072 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cinemark USA, Inc.(b) | ||||
05/01/2025 | 8.750% | 73,000 | 73,000 | |
03/15/2026 | 5.875% | 458,000 | 451,510 | |
07/15/2028 | 5.250% | 250,000 | 232,309 | |
Live Nation Entertainment, Inc.(b) | ||||
05/15/2027 | 6.500% | 258,000 | 258,478 | |
10/15/2027 | 4.750% | 398,000 | 375,273 | |
NCL Corp., Ltd.(b) | ||||
03/15/2026 | 5.875% | 355,000 | 347,685 | |
02/15/2029 | 7.750% | 112,000 | 114,553 | |
Royal Caribbean Cruises Ltd.(b) | ||||
07/01/2026 | 4.250% | 292,000 | 280,604 | |
08/31/2026 | 5.500% | 426,000 | 417,999 | |
01/15/2029 | 8.250% | 525,000 | 552,989 | |
01/15/2030 | 7.250% | 630,000 | 648,751 | |
03/15/2032 | 6.250% | 223,000 | 219,709 | |
Six Flags Entertainment Corp.(b) | ||||
05/15/2031 | 7.250% | 349,000 | 348,257 | |
Six Flags Entertainment Corp./Theme Parks, Inc.(b),(c) | ||||
05/01/2032 | 6.625% | 673,000 | 670,274 | |
Vail Resorts, Inc.(b),(c) | ||||
05/15/2032 | 6.500% | 300,000 | 300,474 | |
Viking Cruises Ltd.(b) | ||||
02/15/2029 | 7.000% | 614,000 | 611,585 | |
07/15/2031 | 9.125% | 281,000 | 301,247 | |
Total | 9,314,288 | |||
Life Insurance 6.9% | ||||
Guardian Life Global Funding(b) | ||||
12/10/2025 | 0.875% | 13,510,000 | 12,531,612 | |
Met Tower Global Funding(b) | ||||
04/12/2029 | 5.250% | 5,647,000 | 5,578,539 | |
Metropolitan Life Global Funding I(b) | ||||
06/17/2029 | 3.050% | 3,160,000 | 2,808,881 | |
01/07/2031 | 1.550% | 4,810,000 | 3,743,700 | |
01/08/2034 | 5.050% | 1,943,000 | 1,864,840 | |
New York Life Global Funding(b) | ||||
01/09/2034 | 5.000% | 9,487,000 | 9,069,733 | |
New York Life Insurance Co.(b) | ||||
Subordinated | ||||
05/15/2050 | 3.750% | 2,780,000 | 2,017,258 | |
Northwestern Mutual Global Funding(b) | ||||
01/14/2026 | 0.800% | 5,667,000 | 5,242,879 | |
Northwestern Mutual Life Insurance Co. (The)(b) | ||||
Subordinated | ||||
09/30/2059 | 3.625% | 6,983,000 | 4,570,786 | |
Pacific Life Global Funding II(b) | ||||
04/14/2026 | 1.375% | 17,139,000 | 15,821,912 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Peachtree Corners Funding Trust(b) | ||||
02/15/2025 | 3.976% | 19,150,000 | 18,789,430 | |
Principal Life Global Funding II(b) | ||||
11/21/2024 | 2.250% | 11,590,000 | 11,368,502 | |
08/16/2026 | 1.250% | 1,000,000 | 904,587 | |
Teachers Insurance & Annuity Association of America(b) | ||||
Subordinated | ||||
09/15/2044 | 4.900% | 2,765,000 | 2,398,275 | |
05/15/2050 | 3.300% | 9,989,000 | 6,622,820 | |
Voya Financial, Inc. | ||||
06/15/2026 | 3.650% | 9,490,000 | 9,081,668 | |
Total | 112,415,422 | |||
Lodging 0.1% | ||||
Hilton Domestic Operating Co., Inc.(b) | ||||
05/01/2025 | 5.375% | 310,000 | 308,515 | |
04/01/2032 | 6.125% | 623,000 | 614,404 | |
Hilton Grand Vacations Borrower Escrow LLC(b) | ||||
01/15/2032 | 6.625% | 545,000 | 536,542 | |
Marriott Ownership Resorts, Inc.(b) | ||||
06/15/2029 | 4.500% | 128,000 | 115,039 | |
Total | 1,574,500 | |||
Media and Entertainment 1.5% | ||||
Clear Channel Outdoor Holdings, Inc.(b) | ||||
04/15/2028 | 7.750% | 1,353,000 | 1,146,761 | |
09/15/2028 | 9.000% | 455,000 | 468,090 | |
06/01/2029 | 7.500% | 433,000 | 348,707 | |
04/01/2030 | 7.875% | 579,000 | 567,014 | |
iHeartCommunications, Inc. | ||||
05/01/2026 | 6.375% | 496,962 | 419,910 | |
05/01/2027 | 8.375% | 740,000 | 392,736 | |
Meta Platforms, Inc. | ||||
08/15/2052 | 4.450% | 6,380,000 | 5,302,672 | |
Outfront Media Capital LLC/Corp.(b) | ||||
01/15/2029 | 4.250% | 216,000 | 192,253 | |
03/15/2030 | 4.625% | 721,000 | 636,961 | |
02/15/2031 | 7.375% | 136,000 | 139,598 | |
Playtika Holding Corp.(b) | ||||
03/15/2029 | 4.250% | 503,000 | 432,666 | |
Roblox Corp.(b) | ||||
05/01/2030 | 3.875% | 537,000 | 464,184 | |
Univision Communications, Inc.(b) | ||||
08/15/2028 | 8.000% | 701,000 | 701,494 | |
05/01/2029 | 4.500% | 248,000 | 215,252 | |
06/30/2030 | 7.375% | 431,000 | 413,094 | |
Viacom, Inc. | ||||
03/15/2043 | 4.375% | 2,270,000 | 1,502,797 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Warnermedia Holdings, Inc. | ||||
03/15/2062 | 5.391% | 14,559,000 | 11,145,045 | |
Total | 24,489,234 | |||
Metals and Mining 0.3% | ||||
Alcoa Nederland Holding BV(b) | ||||
03/15/2031 | 7.125% | 247,000 | 249,969 | |
Allegheny Technologies, Inc. | ||||
10/01/2029 | 4.875% | 122,000 | 113,585 | |
10/01/2031 | 5.125% | 590,000 | 539,478 | |
Constellium NV(b) | ||||
02/15/2026 | 5.875% | 251,000 | 248,934 | |
Constellium SE(b) | ||||
06/15/2028 | 5.625% | 893,000 | 861,828 | |
04/15/2029 | 3.750% | 369,000 | 327,413 | |
Hudbay Minerals, Inc.(b) | ||||
04/01/2026 | 4.500% | 344,000 | 333,064 | |
04/01/2029 | 6.125% | 403,000 | 395,265 | |
Kaiser Aluminum Corp.(b) | ||||
03/01/2028 | 4.625% | 91,000 | 84,794 | |
06/01/2031 | 4.500% | 486,000 | 425,748 | |
Novelis Corp.(b) | ||||
11/15/2026 | 3.250% | 370,000 | 345,938 | |
01/30/2030 | 4.750% | 986,000 | 898,367 | |
08/15/2031 | 3.875% | 367,000 | 310,907 | |
Total | 5,135,290 | |||
Midstream 3.5% | ||||
Antero Midstream Partners LP/Finance Corp.(b) | ||||
02/01/2032 | 6.625% | 431,000 | 429,261 | |
CNX Midstream Partners LP(b) | ||||
04/15/2030 | 4.750% | 552,000 | 487,791 | |
Delek Logistics Partners LP/Finance Corp.(b) | ||||
03/15/2029 | 8.625% | 1,066,000 | 1,073,829 | |
DT Midstream, Inc.(b) | ||||
06/15/2029 | 4.125% | 318,000 | 288,069 | |
06/15/2031 | 4.375% | 637,000 | 566,288 | |
Enbridge, Inc. | ||||
04/05/2034 | 5.625% | 13,289,000 | 13,005,206 | |
Energy Transfer LP | ||||
05/15/2054 | 5.950% | 7,045,000 | 6,640,047 | |
EQM Midstream Partners LP | ||||
08/01/2024 | 4.000% | 562,000 | 557,905 | |
07/15/2048 | 6.500% | 107,000 | 105,729 | |
EQM Midstream Partners LP(b) | ||||
07/01/2025 | 6.000% | 212,000 | 211,748 | |
07/01/2027 | 6.500% | 307,000 | 307,936 | |
01/15/2029 | 4.500% | 333,000 | 308,055 | |
04/01/2029 | 6.375% | 281,000 | 278,867 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
01/15/2031 | 4.750% | 1,171,000 | 1,070,737 | |
Hess Midstream Operations LP(b) | ||||
02/15/2030 | 4.250% | 143,000 | 129,290 | |
ITT Holdings LLC(b) | ||||
08/01/2029 | 6.500% | 210,000 | 189,888 | |
Kinder Morgan Energy Partners LP | ||||
03/01/2043 | 5.000% | 5,946,000 | 5,077,333 | |
09/01/2044 | 5.400% | 3,929,000 | 3,509,691 | |
Kinder Morgan, Inc. | ||||
02/15/2046 | 5.050% | 1,600,000 | 1,363,567 | |
MPLX LP | ||||
04/15/2048 | 4.700% | 1,199,000 | 979,024 | |
03/14/2052 | 4.950% | 4,687,000 | 3,914,013 | |
NuStar Logistics LP | ||||
10/01/2025 | 5.750% | 182,000 | 181,139 | |
06/01/2026 | 6.000% | 132,000 | 131,179 | |
04/28/2027 | 5.625% | 647,000 | 633,420 | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/15/2044 | 4.700% | 6,939,000 | 5,620,695 | |
Sunoco LP(b) | ||||
05/01/2029 | 7.000% | 499,000 | 506,716 | |
05/01/2032 | 7.250% | 470,000 | 477,345 | |
Sunoco LP/Finance Corp. | ||||
04/15/2027 | 6.000% | 316,000 | 312,509 | |
TransMontaigne Partners LP/TLP Finance Corp. | ||||
02/15/2026 | 6.125% | 747,000 | 715,056 | |
Venture Global Calcasieu Pass LLC(b) | ||||
08/15/2029 | 3.875% | 699,000 | 617,224 | |
08/15/2031 | 4.125% | 1,016,000 | 889,534 | |
11/01/2033 | 3.875% | 562,000 | 460,815 | |
Venture Global LNG, Inc.(b) | ||||
06/01/2028 | 8.125% | 189,000 | 193,343 | |
02/01/2029 | 9.500% | 226,000 | 242,986 | |
06/01/2031 | 8.375% | 739,000 | 758,637 | |
02/01/2032 | 9.875% | 238,000 | 253,843 | |
Western Midstream Operating LP | ||||
01/15/2029 | 6.350% | 4,324,000 | 4,416,145 | |
Total | 56,904,860 | |||
Natural Gas 1.8% | ||||
NiSource, Inc. | ||||
02/15/2031 | 1.700% | 35,176,000 | 27,436,873 | |
05/15/2047 | 4.375% | 2,710,000 | 2,141,231 | |
Total | 29,578,104 | |||
Oil Field Services 0.2% | ||||
Kodiak Gas Services LLC(b) | ||||
02/15/2029 | 7.250% | 219,000 | 221,431 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Nabors Industries Ltd.(b) | ||||
01/15/2026 | 7.250% | 404,000 | 400,087 | |
01/15/2028 | 7.500% | 89,000 | 84,357 | |
Nabors Industries, Inc.(b) | ||||
05/15/2027 | 7.375% | 213,000 | 211,078 | |
01/31/2030 | 9.125% | 228,000 | 235,865 | |
Transocean Aquila Ltd.(b) | ||||
09/30/2028 | 8.000% | 539,000 | 548,214 | |
Transocean Titan Financing Ltd.(b) | ||||
02/01/2028 | 8.375% | 695,000 | 713,464 | |
Transocean, Inc.(b) | ||||
05/15/2029 | 8.250% | 179,000 | 177,894 | |
05/15/2031 | 8.500% | 441,000 | 438,670 | |
USA Compression Partners LP/Finance Corp.(b) | ||||
03/15/2029 | 7.125% | 638,000 | 633,520 | |
Total | 3,664,580 | |||
Other Industry 0.0% | ||||
Hillenbrand, Inc. | ||||
03/01/2031 | 3.750% | 215,000 | 182,963 | |
Williams Scotsman International, Inc.(b) | ||||
08/15/2028 | 4.625% | 250,000 | 230,971 | |
Total | 413,934 | |||
Other REIT 0.3% | ||||
Ladder Capital Finance Holdings LLLP/Corp.(b) | ||||
10/01/2025 | 5.250% | 558,000 | 548,246 | |
06/15/2029 | 4.750% | 1,836,000 | 1,636,941 | |
Park Intermediate Holdings LLC/Domestic Property/Finance Co-Issuer(b) | ||||
10/01/2028 | 5.875% | 384,000 | 371,370 | |
Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer(b) | ||||
05/15/2029 | 4.875% | 317,000 | 290,255 | |
RHP Hotel Properties LP/Finance Corp.(b) | ||||
07/15/2028 | 7.250% | 148,000 | 150,397 | |
02/15/2029 | 4.500% | 216,000 | 198,941 | |
04/01/2032 | 6.500% | 387,000 | 379,442 | |
RLJ Lodging Trust LP(b) | ||||
07/01/2026 | 3.750% | 222,000 | 209,216 | |
09/15/2029 | 4.000% | 275,000 | 238,359 | |
Service Properties Trust(b) | ||||
11/15/2031 | 8.625% | 291,000 | 307,170 | |
Total | 4,330,337 | |||
Packaging 0.2% | ||||
Ardagh Metal Packaging Finance USA LLC/PLC(b) | ||||
06/15/2027 | 6.000% | 368,000 | 357,074 | |
09/01/2029 | 4.000% | 1,201,000 | 990,916 | |
Canpack SA/US LLC(b) | ||||
11/15/2029 | 3.875% | 829,000 | 727,130 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Clydesdale Acquisition Holdings, Inc.(b) | ||||
04/15/2030 | 8.750% | 250,000 | 241,608 | |
Trivium Packaging Finance BV(b) | ||||
08/15/2026 | 5.500% | 178,000 | 174,848 | |
08/15/2027 | 8.500% | 399,000 | 395,284 | |
Total | 2,886,860 | |||
Pharmaceuticals 5.7% | ||||
1375209 BC Ltd.(b) | ||||
01/30/2028 | 9.000% | 97,000 | 95,189 | |
AbbVie, Inc. | ||||
03/15/2029 | 4.800% | 24,518,000 | 24,086,999 | |
Amgen, Inc. | ||||
03/02/2063 | 5.750% | 17,709,000 | 16,898,214 | |
Bausch Health Companies, Inc.(b) | ||||
06/01/2028 | 4.875% | 152,000 | 98,159 | |
09/30/2028 | 11.000% | 173,000 | 135,248 | |
10/15/2030 | 14.000% | 34,000 | 21,925 | |
Bristol-Myers Squibb Co. | ||||
02/22/2064 | 5.650% | 14,759,000 | 14,144,610 | |
Grifols Escrow Issuer SA(b) | ||||
10/15/2028 | 4.750% | 1,196,000 | 961,654 | |
Organon Finance 1 LLC(b) | ||||
04/30/2028 | 4.125% | 419,000 | 381,749 | |
04/30/2031 | 5.125% | 1,117,000 | 966,109 | |
Pfizer Investment Enterprises Pte., Ltd. | ||||
05/19/2063 | 5.340% | 9,525,000 | 8,729,738 | |
Roche Holdings, Inc.(b) | ||||
11/13/2028 | 5.338% | 7,645,000 | 7,681,179 | |
11/13/2030 | 5.489% | 18,984,000 | 19,185,928 | |
Total | 93,386,701 | |||
Property & Casualty 0.6% | ||||
Alliant Holdings Intermediate LLC/Co-Issuer(b) | ||||
10/15/2027 | 4.250% | 32,000 | 29,855 | |
10/15/2027 | 6.750% | 834,000 | 818,658 | |
04/15/2028 | 6.750% | 1,068,000 | 1,067,224 | |
11/01/2029 | 5.875% | 683,000 | 628,906 | |
01/15/2031 | 7.000% | 892,000 | 895,298 | |
AmWINS Group, Inc.(b) | ||||
02/15/2029 | 6.375% | 477,000 | 471,669 | |
AssuredPartners, Inc.(b) | ||||
01/15/2029 | 5.625% | 608,000 | 554,431 | |
02/15/2032 | 7.500% | 631,000 | 614,736 | |
BroadStreet Partners, Inc.(b) | ||||
04/15/2029 | 5.875% | 716,000 | 652,745 | |
GTCR AP Finance, Inc.(b) | ||||
05/15/2027 | 8.000% | 39,000 | 39,011 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
HUB International Ltd.(b) | ||||
12/01/2029 | 5.625% | 622,000 | 572,753 | |
01/31/2032 | 7.375% | 668,000 | 664,062 | |
HUB International, Ltd.(b) | ||||
06/15/2030 | 7.250% | 1,315,000 | 1,335,765 | |
Panther Escrow Issuer LLC(b) | ||||
06/01/2031 | 7.125% | 838,000 | 842,363 | |
USI, Inc.(b) | ||||
01/15/2032 | 7.500% | 286,000 | 284,442 | |
Total | 9,471,918 | |||
Railroads 0.8% | ||||
Genesee & Wyoming, Inc.(b) | ||||
04/15/2032 | 6.250% | 652,000 | 647,856 | |
Norfolk Southern Corp. | ||||
08/01/2030 | 5.050% | 13,375,000 | 13,144,725 | |
Total | 13,792,581 | |||
Refining 0.0% | ||||
HF Sinclair Corp.(b) | ||||
04/15/2027 | 6.375% | 163,000 | 163,063 | |
Restaurants 0.1% | ||||
Fertitta Entertainment LLC/Finance Co., Inc.(b) | ||||
01/15/2030 | 6.750% | 605,000 | 526,981 | |
IRB Holding Corp.(b) | ||||
06/15/2025 | 7.000% | 874,000 | 874,467 | |
Yum! Brands, Inc. | ||||
04/01/2032 | 5.375% | 558,000 | 526,955 | |
Total | 1,928,403 | |||
Retailers 1.2% | ||||
Asbury Automotive Group, Inc.(b) | ||||
11/15/2029 | 4.625% | 142,000 | 128,652 | |
Group 1 Automotive, Inc.(b) | ||||
08/15/2028 | 4.000% | 100,000 | 91,089 | |
Hanesbrands, Inc.(b) | ||||
05/15/2026 | 4.875% | 255,000 | 246,631 | |
02/15/2031 | 9.000% | 253,000 | 251,655 | |
L Brands, Inc.(b) | ||||
07/01/2025 | 9.375% | 37,000 | 38,351 | |
10/01/2030 | 6.625% | 498,000 | 497,882 | |
L Brands, Inc. | ||||
06/15/2029 | 7.500% | 113,000 | 116,241 | |
11/01/2035 | 6.875% | 227,000 | 225,456 | |
LCM Investments Holdings II LLC(b) | ||||
05/01/2029 | 4.875% | 273,000 | 249,351 | |
08/01/2031 | 8.250% | 193,000 | 200,678 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Lithia Motors, Inc.(b) | ||||
01/15/2031 | 4.375% | 255,000 | 223,126 | |
Lowe’s Companies, Inc. | ||||
04/01/2062 | 4.450% | 13,088,000 | 10,011,640 | |
09/15/2062 | 5.800% | 5,149,000 | 4,935,262 | |
PetSmart, Inc./Finance Corp.(b) | ||||
02/15/2028 | 4.750% | 783,000 | 722,696 | |
02/15/2029 | 7.750% | 235,000 | 223,334 | |
Wolverine World Wide, Inc.(b) | ||||
08/15/2029 | 4.000% | 767,000 | 612,835 | |
Total | 18,774,879 | |||
Supermarkets 0.1% | ||||
Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC(b) | ||||
03/15/2026 | 7.500% | 147,000 | 149,229 | |
Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(b) | ||||
03/15/2026 | 3.250% | 223,000 | 211,672 | |
01/15/2027 | 4.625% | 339,000 | 323,873 | |
02/15/2030 | 4.875% | 122,000 | 113,737 | |
Total | 798,511 | |||
Technology 4.3% | ||||
Apple, Inc. | ||||
02/08/2051 | 2.650% | 4,154,000 | 2,538,565 | |
Block, Inc. | ||||
06/01/2026 | 2.750% | 103,000 | 96,752 | |
06/01/2031 | 3.500% | 217,000 | 183,507 | |
Boxer Parent Co., Inc.(b) | ||||
10/02/2025 | 7.125% | 82,000 | 82,140 | |
Broadcom, Inc.(b) | ||||
11/15/2036 | 3.187% | 24,111,000 | 18,493,820 | |
Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.(b) | ||||
06/15/2029 | 8.000% | 104,000 | 106,949 | |
Central Parent, Inc./CDK Global, Inc.(b) | ||||
06/15/2029 | 7.250% | 279,000 | 282,036 | |
Clarivate Science Holdings Corp.(b) | ||||
07/01/2028 | 3.875% | 258,000 | 234,984 | |
07/01/2029 | 4.875% | 695,000 | 633,115 | |
Cloud Software Group, Inc.(b) | ||||
09/30/2029 | 9.000% | 1,423,000 | 1,371,014 | |
Condor Merger Sub, Inc.(b) | ||||
02/15/2030 | 7.375% | 940,000 | 871,747 | |
Dun & Bradstreet Corp. (The)(b) | ||||
12/15/2029 | 5.000% | 197,000 | 179,319 | |
Entegris Escrow Corp.(b) | ||||
04/15/2029 | 4.750% | 180,000 | 170,057 | |
06/15/2030 | 5.950% | 633,000 | 616,533 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
GoTo Group, Inc.(b) | ||||
05/01/2028 | 5.500% | 419,174 | 280,849 | |
05/01/2028 | 5.500% | 214,906 | 183,614 | |
GTCR W-2 Merger Sub LLC(b) | ||||
01/15/2031 | 7.500% | 1,147,000 | 1,183,001 | |
HealthEquity, Inc.(b) | ||||
10/01/2029 | 4.500% | 626,000 | 571,211 | |
Helios Software Holdings, Inc.(b) | ||||
05/01/2028 | 4.625% | 476,000 | 419,216 | |
Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl(b),(c) | ||||
05/01/2029 | 8.750% | 605,000 | 605,954 | |
Intel Corp. | ||||
08/12/2051 | 3.050% | 5,225,000 | 3,209,681 | |
International Business Machines Corp. | ||||
05/15/2029 | 3.500% | 16,635,000 | 15,311,309 | |
ION Trading Technologies Sarl(b) | ||||
05/15/2028 | 5.750% | 494,000 | 451,177 | |
Iron Mountain, Inc.(b) | ||||
07/15/2030 | 5.250% | 827,000 | 768,185 | |
Minerva Merger Sub, Inc.(b) | ||||
02/15/2030 | 6.500% | 1,042,000 | 938,671 | |
NCR Atleos Escrow Corp.(b) | ||||
04/01/2029 | 9.500% | 905,000 | 961,887 | |
NCR Corp.(b) | ||||
10/01/2028 | 5.000% | 424,000 | 390,216 | |
04/15/2029 | 5.125% | 895,000 | 822,494 | |
10/01/2030 | 5.250% | 220,000 | 195,893 | |
Neptune Bidco US, Inc.(b) | ||||
04/15/2029 | 9.290% | 863,000 | 814,627 | |
NXP BV/Funding LLC/USA, Inc. | ||||
05/11/2031 | 2.500% | 15,995,000 | 13,057,564 | |
Picard Midco, Inc.(b) | ||||
03/31/2029 | 6.500% | 1,058,000 | 1,003,326 | |
Seagate HDD Cayman(b) | ||||
12/15/2029 | 8.250% | 275,000 | 291,257 | |
07/15/2031 | 8.500% | 306,000 | 326,150 | |
Shift4 Payments LLC/Finance Sub, Inc.(b) | ||||
11/01/2026 | 4.625% | 912,000 | 878,023 | |
Tempo Acquisition LLC/Finance Corp.(b) | ||||
06/01/2025 | 5.750% | 175,000 | 174,223 | |
UKG, Inc.(b) | ||||
02/01/2031 | 6.875% | 1,004,000 | 1,005,825 | |
Verscend Escrow Corp.(b) | ||||
08/15/2026 | 9.750% | 505,000 | 505,000 | |
ZoomInfo Technologies LLC/Finance Corp.(b) | ||||
02/01/2029 | 3.875% | 441,000 | 389,684 | |
Total | 70,599,575 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Tobacco 0.4% | ||||
Reynolds American, Inc. | ||||
08/15/2035 | 5.700% | 6,276,000 | 6,023,483 | |
Transportation Services 1.3% | ||||
Avis Budget Car Rental LLC/Finance, Inc.(b) | ||||
02/15/2031 | 8.000% | 620,000 | 593,542 | |
ERAC USA Finance LLC(b) | ||||
05/01/2028 | 4.600% | 20,535,000 | 19,958,121 | |
Total | 20,551,663 | |||
Wireless 1.9% | ||||
Altice France Holding SA(b) | ||||
02/15/2028 | 6.000% | 343,000 | 100,732 | |
Altice France SA(b) | ||||
01/15/2028 | 5.500% | 757,000 | 510,570 | |
07/15/2029 | 5.125% | 1,059,000 | 691,968 | |
10/15/2029 | 5.500% | 120,000 | 78,573 | |
SBA Communications Corp. | ||||
02/15/2027 | 3.875% | 277,000 | 260,217 | |
02/01/2029 | 3.125% | 110,000 | 95,797 | |
T-Mobile US, Inc. | ||||
02/15/2029 | 2.625% | 20,007,000 | 17,605,648 | |
02/15/2031 | 2.875% | 11,964,000 | 10,150,477 | |
Vmed O2 UK Financing I PLC(b) | ||||
01/31/2031 | 4.250% | 1,059,000 | 868,187 | |
07/15/2031 | 4.750% | 849,000 | 709,235 | |
04/15/2032 | 7.750% | 314,000 | 309,307 | |
Total | 31,380,711 | |||
Wirelines 2.3% | ||||
AT&T, Inc. | ||||
12/01/2033 | 2.550% | 4,585,000 | 3,540,013 | |
05/15/2035 | 4.500% | 2,000,000 | 1,795,195 | |
Frontier Communications Holdings LLC(b) | ||||
05/15/2030 | 8.750% | 326,000 | 331,990 | |
03/15/2031 | 8.625% | 540,000 | 545,379 | |
Iliad Holding SAS(b) | ||||
10/15/2026 | 6.500% | 1,150,000 | 1,144,243 | |
10/15/2028 | 7.000% | 1,037,000 | 1,014,200 | |
Iliad Holding SASU(b),(c) | ||||
04/15/2031 | 8.500% | 303,000 | 303,212 | |
Verizon Communications, Inc. | ||||
03/21/2031 | 2.550% | 35,595,000 | 29,544,463 | |
Total | 38,218,695 | |||
Total Corporate Bonds & Notes (Cost $1,646,514,252) | 1,537,464,650 | |||
Foreign Government Obligations(i) 0.1% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Canada 0.1% | ||||
NOVA Chemicals Corp.(b) | ||||
05/01/2025 | 5.000% | 393,000 | 386,261 | |
06/01/2027 | 5.250% | 251,000 | 236,726 | |
11/15/2028 | 8.500% | 172,000 | 180,640 | |
05/15/2029 | 4.250% | 313,000 | 263,742 | |
02/15/2030 | 9.000% | 851,000 | 876,517 | |
Total | 1,943,886 | |||
Total Foreign Government Obligations (Cost $1,961,187) | 1,943,886 | |||
Senior Loans 0.2% | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Chemicals 0.0% | ||||
WR Grace Holdings LLC(j),(k) | ||||
Term Loan | ||||
3-month Term SOFR + 3.750% Floor 0.500% 09/22/2028 | 9.321% | 379,270 | 379,270 | |
Consumer Cyclical Services 0.1% | ||||
8th Avenue Food & Provisions, Inc.(j),(k) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.750% 10/01/2025 | 9.180% | 327,865 | 314,957 | |
Arches Buyer, Inc.(j),(k) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 12/06/2027 | 8.666% | 249,355 | 240,456 | |
Total | 555,413 | |||
Property & Casualty 0.0% | ||||
Truist Insurance Holdings LLC(j),(k),(l) | ||||
2nd Lien Term Loan | ||||
3-month Term SOFR + 4.750% 03/08/2032 | 10.086% | 402,477 | 405,749 | |
Retailers 0.0% | ||||
PetSmart LLC(j),(k) | ||||
Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.750% 02/11/2028 | 9.166% | 493,731 | 486,078 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Technology 0.1% | ||||
Ascend Learning LLC(j),(k) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.500% Floor 0.500% 12/11/2028 | 8.916% | 557,138 | 554,814 | |
2nd Lien Term Loan | ||||
1-month Term SOFR + 5.750% Floor 0.500% 12/10/2029 | 11.166% | 246,000 | 240,876 | |
DCert Buyer, Inc.(j),(k) | ||||
2nd Lien Term Loan | ||||
1-month Term SOFR + 7.000% 02/19/2029 | 12.316% | 119,000 | 106,729 | |
UKG, Inc.(j),(k) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 3.500% 02/10/2031 | 8.814% | 187,374 | 188,186 | |
Total | 1,090,605 | |||
Total Senior Loans (Cost $2,933,367) | 2,917,115 | |||
U.S. Treasury Obligations 2.7% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury | ||||
05/15/2043 | 3.875% | 6,489,000 | 5,659,625 | |
08/15/2043 | 4.375% | 25,546,000 | 23,861,560 | |
02/15/2053 | 3.625% | 17,108,000 | 13,977,771 | |
Total U.S. Treasury Obligations (Cost $45,554,808) | 43,498,956 |
Money Market Funds 1.6% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.485%(m),(n) | 27,008,589 | 27,000,486 |
Total Money Market Funds (Cost $26,998,815) | 27,000,486 | |
Total Investments in Securities (Cost: $1,725,496,847) | 1,613,249,973 | |
Other Assets & Liabilities, Net | 17,484,009 | |
Net Assets | 1,630,733,982 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Long Bond | 843 | 06/2024 | USD | 95,943,938 | — | (4,382,259 ) |
U.S. Treasury 2-Year Note | 1,229 | 06/2024 | USD | 249,064,531 | — | (2,398,350 ) |
U.S. Treasury 5-Year Note | 834 | 06/2024 | USD | 87,354,985 | — | (1,341,902 ) |
Total | — | (8,122,511 ) |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | (2,228) | 06/2024 | USD | (239,370,750 ) | 6,253,647 | — |
U.S. Treasury Ultra 10-Year Note | (1,166) | 06/2024 | USD | (128,515,063 ) | 4,027,493 | — |
U.S. Treasury Ultra Bond | (58) | 06/2024 | USD | (6,934,625 ) | 177,740 | — |
Total | 10,458,880 | — |
(a) | Non-income producing investment. |
(b) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2024, the total value of these securities amounted to $441,624,113, which represents 27.08% of total net assets. |
(c) | Represents a security purchased on a when-issued basis. |
(d) | 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 April 30, 2024. |
(e) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At April 30, 2024, the total value of these securities amounted to $9,525, which represents less than 0.01% of total net assets. |
(f) | Represents a security in default. |
(g) | Valuation based on significant unobservable inputs. |
(h) | Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash. |
(i) | Principal and interest may not be guaranteed by a governmental entity. |
(j) | The stated interest rate represents the weighted average interest rate at April 30, 2024 of contracts within the senior loan facility. Interest rates on contracts are primarily determined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. Base lending rates may be subject to a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay cannot be predicted with accuracy. As a result, remaining maturities of senior loans may be less than the stated maturities. Generally, the Fund is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(k) | Variable rate security. The interest rate shown was the current rate as of April 30, 2024. |
(l) | Represents a security purchased on a forward commitment basis. |
(m) | The rate shown is the seven-day current annualized yield at April 30, 2024. |
(n) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.485% | ||||||||
93,606,501 | 1,015,910,881 | (1,082,525,986 ) | 9,090 | 27,000,486 | 4,482 | 3,200,400 | 27,008,589 |
SOFR | Secured Overnight Financing Rate |
USD | US Dollar |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Financials | 137,571 | — | — | 137,571 |
Total Common Stocks | 137,571 | — | — | 137,571 |
Convertible Bonds | — | 287,309 | — | 287,309 |
Corporate Bonds & Notes | — | 1,537,455,125 | 9,525 | 1,537,464,650 |
Foreign Government Obligations | — | 1,943,886 | — | 1,943,886 |
Senior Loans | — | 2,917,115 | — | 2,917,115 |
U.S. Treasury Obligations | — | 43,498,956 | — | 43,498,956 |
Money Market Funds | 27,000,486 | — | — | 27,000,486 |
Total Investments in Securities | 27,138,057 | 1,586,102,391 | 9,525 | 1,613,249,973 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 10,458,880 | — | — | 10,458,880 |
Liability | ||||
Futures Contracts | (8,122,511 ) | — | — | (8,122,511 ) |
Total | 29,474,426 | 1,586,102,391 | 9,525 | 1,615,586,342 |
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,698,498,032) | $1,586,249,487 |
Affiliated issuers (cost $26,998,815) | 27,000,486 |
Cash | 17,411 |
Margin deposits on: | |
Futures contracts | 5,867,924 |
Receivable for: | |
Investments sold | 41,791 |
Investments sold on a delayed delivery basis | 63,053 |
Capital shares sold | 6,685,499 |
Dividends | 212,780 |
Interest | 17,809,163 |
Foreign tax reclaims | 5,119 |
Variation margin for futures contracts | 1,979,750 |
Expense reimbursement due from Investment Manager | 4,048 |
Prepaid expenses | 7,266 |
Deferred compensation of board members | 203,996 |
Total assets | 1,646,147,773 |
Liabilities | |
Payable for: | |
Investments purchased | 1,394,298 |
Investments purchased on a delayed delivery basis | 4,007,397 |
Capital shares redeemed | 2,169,213 |
Distributions to shareholders | 6,127,619 |
Variation margin for futures contracts | 1,249,590 |
Management services fees | 21,893 |
Distribution and/or service fees | 697 |
Transfer agent fees | 163,777 |
Compensation of board members | 1,218 |
Other expenses | 33,303 |
Deferred compensation of board members | 244,786 |
Total liabilities | 15,413,791 |
Net assets applicable to outstanding capital stock | $1,630,733,982 |
Represented by | |
Paid in capital | 1,912,823,394 |
Total distributable earnings (loss) | (282,089,412 ) |
Total - representing net assets applicable to outstanding capital stock | $1,630,733,982 |
Class A | |
Net assets | $101,764,831 |
Shares outstanding | 11,507,153 |
Net asset value per share | $8.84 |
Maximum sales charge | 4.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.28 |
Advisor Class | |
Net assets | $83,463,701 |
Shares outstanding | 9,451,213 |
Net asset value per share | $8.83 |
Institutional Class | |
Net assets | $717,563,302 |
Shares outstanding | 81,135,224 |
Net asset value per share | $8.84 |
Institutional 2 Class | |
Net assets | $75,929,494 |
Shares outstanding | 8,596,852 |
Net asset value per share | $8.83 |
Institutional 3 Class | |
Net assets | $652,012,654 |
Shares outstanding | 73,766,201 |
Net asset value per share | $8.84 |
Net investment income | |
Income: | |
Dividends — affiliated issuers | $3,200,400 |
Interest | 77,984,387 |
Interfund lending | 713 |
Foreign taxes withheld | (14,556 ) |
Total income | 81,170,944 |
Expenses: | |
Management services fees | 8,124,810 |
Distribution and/or service fees | |
Class A | 238,548 |
Class C | 39,325 |
Transfer agent fees | |
Class A | 181,069 |
Advisor Class | 221,269 |
Class C | 9,315 |
Institutional Class | 1,213,879 |
Institutional 2 Class | 40,691 |
Institutional 3 Class | 40,246 |
Custodian fees | 15,400 |
Printing and postage fees | 103,580 |
Registration fees | 151,730 |
Accounting services fees | 30,993 |
Legal fees | 31,584 |
Compensation of chief compliance officer | 323 |
Compensation of board members | 30,176 |
Deferred compensation of board members | 13,965 |
Other | 35,784 |
Total expenses | 10,522,687 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,459,437 ) |
Fees waived by transfer agent | |
Institutional 2 Class | (4,316 ) |
Institutional 3 Class | (40,246 ) |
Expense reduction | (765 ) |
Total net expenses | 9,017,923 |
Net investment income | 72,153,021 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (59,229,097 ) |
Investments — affiliated issuers | 4,482 |
Foreign currency translations | (406 ) |
Futures contracts | 4,159,868 |
Net realized loss | (55,065,153 ) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 20,235,581 |
Investments — affiliated issuers | 9,090 |
Futures contracts | 1,614,350 |
Net change in unrealized appreciation (depreciation) | 21,859,021 |
Net realized and unrealized loss | (33,206,132 ) |
Net increase in net assets resulting from operations | $38,946,889 |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $72,153,021 | $54,327,403 |
Net realized loss | (55,065,153 ) | (95,510,857 ) |
Net change in unrealized appreciation (depreciation) | 21,859,021 | 63,655,411 |
Net increase in net assets resulting from operations | 38,946,889 | 22,471,957 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (3,853,822 ) | (3,226,634 ) |
Advisor Class | (4,940,345 ) | (4,930,641 ) |
Class C | (171,459 ) | (80,248 ) |
Institutional Class | (27,565,927 ) | (15,586,268 ) |
Institutional 2 Class | (3,212,608 ) | (2,232,056 ) |
Institutional 3 Class | (32,272,253 ) | (28,891,488 ) |
Total distributions to shareholders | (72,016,414 ) | (54,947,335 ) |
Increase in net assets from capital stock activity | 36,313,525 | 61,746,003 |
Total increase in net assets | 3,244,000 | 29,270,625 |
Net assets at beginning of year | 1,627,489,982 | 1,598,219,357 |
Net assets at end of year | $1,630,733,982 | $1,627,489,982 |
Year Ended | Year Ended | |||
April 30, 2024 | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 3,235,852 | 28,775,466 | 1,145,923 | 10,257,140 |
Distributions reinvested | 409,648 | 3,640,986 | 341,069 | 3,036,558 |
Shares redeemed | (2,432,517 ) | (21,604,975 ) | (2,893,914 ) | (25,940,328 ) |
Net increase (decrease) | 1,212,983 | 10,811,477 | (1,406,922 ) | (12,646,630 ) |
Advisor Class | ||||
Shares sold | 5,611,423 | 49,947,248 | 2,491,183 | 22,372,358 |
Distributions reinvested | 413,673 | 3,663,424 | 372,622 | 3,316,303 |
Shares redeemed | (9,404,248 ) | (84,476,754 ) | (10,773,206 ) | (94,579,339 ) |
Net decrease | (3,379,152 ) | (30,866,082 ) | (7,909,401 ) | (68,890,678 ) |
Class C | ||||
Shares sold | 376,545 | 3,352,610 | 238,787 | 2,117,148 |
Distributions reinvested | 17,946 | 159,564 | 8,647 | 76,996 |
Shares redeemed | (812,985 ) | (7,188,674 ) | (111,909 ) | (994,134 ) |
Net increase (decrease) | (418,494 ) | (3,676,500 ) | 135,525 | 1,200,010 |
Institutional Class | ||||
Shares sold | 33,062,264 | 294,187,622 | 33,329,267 | 299,094,986 |
Distributions reinvested | 2,816,298 | 25,048,038 | 1,502,621 | 13,398,413 |
Shares redeemed | (18,526,481 ) | (164,339,933 ) | (12,341,543 ) | (110,298,480 ) |
Net increase | 17,352,081 | 154,895,727 | 22,490,345 | 202,194,919 |
Institutional 2 Class | ||||
Shares sold | 1,783,164 | 15,687,234 | 5,052,342 | 43,885,536 |
Distributions reinvested | 361,562 | 3,210,231 | 251,152 | 2,230,890 |
Shares redeemed | (1,601,744 ) | (14,156,851 ) | (2,801,937 ) | (25,252,147 ) |
Net increase | 542,982 | 4,740,614 | 2,501,557 | 20,864,279 |
Institutional 3 Class | ||||
Shares sold | 28,948,104 | 254,351,858 | 18,212,248 | 163,568,303 |
Distributions reinvested | 3,088,131 | 27,409,472 | 2,969,420 | 26,431,298 |
Shares redeemed | (42,846,570 ) | (381,353,041 ) | (30,449,107 ) | (270,975,498 ) |
Net decrease | (10,810,335 ) | (99,591,711 ) | (9,267,439 ) | (80,975,897 ) |
Total net increase | 4,500,065 | 36,313,525 | 6,543,665 | 61,746,003 |
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 4/30/2024 | $9.05 | 0.36 | (0.21 ) | 0.15 | (0.36 ) | — | (0.36 ) |
Year Ended 4/30/2023 | $9.22 | 0.29 | (0.16 ) | 0.13 | (0.30 ) | — | (0.30 ) |
Year Ended 4/30/2022 | $10.77 | 0.21 | (1.32 ) | (1.11 ) | (0.22 ) | (0.22 ) | (0.44 ) |
Year Ended 4/30/2021 | $10.87 | 0.23 | 0.38 | 0.61 | (0.24 ) | (0.47 ) | (0.71 ) |
Year Ended 4/30/2020 | $10.15 | 0.29 | 0.72 | 1.01 | (0.29 ) | — | (0.29 ) |
Advisor Class | |||||||
Year Ended 4/30/2024 | $9.03 | 0.38 | (0.20 ) | 0.18 | (0.38 ) | — | (0.38 ) |
Year Ended 4/30/2023 | $9.21 | 0.31 | (0.17 ) | 0.14 | (0.32 ) | — | (0.32 ) |
Year Ended 4/30/2022 | $10.76 | 0.25 | (1.34 ) | (1.09 ) | (0.24 ) | (0.22 ) | (0.46 ) |
Year Ended 4/30/2021 | $10.85 | 0.27 | 0.37 | 0.64 | (0.26 ) | (0.47 ) | (0.73 ) |
Year Ended 4/30/2020 | $10.14 | 0.32 | 0.71 | 1.03 | (0.32 ) | — | (0.32 ) |
Institutional Class | |||||||
Year Ended 4/30/2024 | $9.05 | 0.38 | (0.21 ) | 0.17 | (0.38 ) | — | (0.38 ) |
Year Ended 4/30/2023 | $9.22 | 0.32 | (0.17 ) | 0.15 | (0.32 ) | — | (0.32 ) |
Year Ended 4/30/2022 | $10.77 | 0.24 | (1.33 ) | (1.09 ) | (0.24 ) | (0.22 ) | (0.46 ) |
Year Ended 4/30/2021 | $10.87 | 0.26 | 0.37 | 0.63 | (0.26 ) | (0.47 ) | (0.73 ) |
Year Ended 4/30/2020 | $10.15 | 0.32 | 0.72 | 1.04 | (0.32 ) | — | (0.32 ) |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $9.04 | 0.39 | (0.21 ) | 0.18 | (0.39 ) | — | (0.39 ) |
Year Ended 4/30/2023 | $9.21 | 0.33 | (0.17 ) | 0.16 | (0.33 ) | — | (0.33 ) |
Year Ended 4/30/2022 | $10.76 | 0.25 | (1.32 ) | (1.07 ) | (0.26 ) | (0.22 ) | (0.48 ) |
Year Ended 4/30/2021 | $10.85 | 0.27 | 0.38 | 0.65 | (0.27 ) | (0.47 ) | (0.74 ) |
Year Ended 4/30/2020 | $10.14 | 0.33 | 0.71 | 1.04 | (0.33 ) | — | (0.33 ) |
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 4/30/2024 | $8.84 | 1.72% | 0.96% | 0.86% (c) | 4.05% | 118% | $101,765 |
Year Ended 4/30/2023 | $9.05 | 1.51% | 0.94% | 0.87% (c) | 3.31% | 79% | $93,141 |
Year Ended 4/30/2022 | $9.22 | (10.79% ) | 0.92% | 0.87% (c) | 2.03% | 80% | $107,905 |
Year Ended 4/30/2021 | $10.77 | 5.47% | 0.93% | 0.88% (c) | 2.10% | 74% | $88,537 |
Year Ended 4/30/2020 | $10.87 | 10.10% | 0.95% | 0.91% (c) | 2.77% | 91% | $68,880 |
Advisor Class | |||||||
Year Ended 4/30/2024 | $8.83 | 2.08% | 0.71% | 0.61% (c) | 4.29% | 118% | $83,464 |
Year Ended 4/30/2023 | $9.03 | 1.65% | 0.69% | 0.62% (c) | 3.51% | 79% | $115,911 |
Year Ended 4/30/2022 | $9.21 | (10.58% ) | 0.67% | 0.62% (c) | 2.54% | 80% | $190,943 |
Year Ended 4/30/2021 | $10.76 | 5.83% | 0.68% | 0.63% (c) | 2.38% | 74% | $10,624 |
Year Ended 4/30/2020 | $10.85 | 10.28% | 0.70% | 0.66% (c) | 3.02% | 91% | $18,086 |
Institutional Class | |||||||
Year Ended 4/30/2024 | $8.84 | 1.97% | 0.71% | 0.61% (c) | 4.31% | 118% | $717,563 |
Year Ended 4/30/2023 | $9.05 | 1.76% | 0.70% | 0.62% (c) | 3.62% | 79% | $577,092 |
Year Ended 4/30/2022 | $9.22 | (10.57% ) | 0.67% | 0.62% (c) | 2.24% | 80% | $380,743 |
Year Ended 4/30/2021 | $10.77 | 5.73% | 0.68% | 0.63% (c) | 2.36% | 74% | $431,331 |
Year Ended 4/30/2020 | $10.87 | 10.37% | 0.70% | 0.66% (c) | 3.02% | 91% | $364,875 |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $8.83 | 2.10% | 0.57% | 0.49% | 4.42% | 118% | $75,929 |
Year Ended 4/30/2023 | $9.04 | 1.86% | 0.57% | 0.52% | 3.74% | 79% | $72,771 |
Year Ended 4/30/2022 | $9.21 | (10.49% ) | 0.56% | 0.52% | 2.34% | 80% | $51,119 |
Year Ended 4/30/2021 | $10.76 | 5.94% | 0.58% | 0.53% | 2.45% | 74% | $49,251 |
Year Ended 4/30/2020 | $10.85 | 10.39% | 0.58% | 0.56% | 3.13% | 91% | $6,267 |
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 4/30/2024 | $9.04 | 0.40 | (0.20 ) | 0.20 | (0.40 ) | — | (0.40 ) |
Year Ended 4/30/2023 | $9.22 | 0.33 | (0.18 ) | 0.15 | (0.33 ) | — | (0.33 ) |
Year Ended 4/30/2022 | $10.77 | 0.25 | (1.32 ) | (1.07 ) | (0.26 ) | (0.22 ) | (0.48 ) |
Year Ended 4/30/2021 | $10.86 | 0.28 | 0.38 | 0.66 | (0.28 ) | (0.47 ) | (0.75 ) |
Year Ended 4/30/2020 | $10.15 | 0.33 | 0.72 | 1.05 | (0.34 ) | — | (0.34 ) |
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%. |
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 4/30/2024 | $8.84 | 2.26% | 0.52% | 0.44% | 4.47% | 118% | $652,013 |
Year Ended 4/30/2023 | $9.04 | 1.80% | 0.52% | 0.47% | 3.71% | 79% | $764,790 |
Year Ended 4/30/2022 | $9.22 | (10.43% ) | 0.51% | 0.47% | 2.39% | 80% | $864,900 |
Year Ended 4/30/2021 | $10.77 | 5.99% | 0.52% | 0.47% | 2.49% | 74% | $875,524 |
Year Ended 4/30/2020 | $10.86 | 10.44% | 0.53% | 0.50% | 3.17% | 91% | $556,117 |
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 10,458,880 * |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 8,122,511 * |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 4,159,868 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 1,614,350 |
Derivative instrument | Average notional amounts ($) |
Futures contracts — long | 401,499,741 |
Futures contracts — short | 351,637,581 |
Effective rate (%) | |
Class A | 0.19 |
Advisor Class | 0.19 |
Class C | 0.19 (a) |
Institutional Class | 0.19 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
(a) | Unannualized. |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 4.75 | 0.50 - 1.00 (a) | 118,097 |
Class C | — | 1.00 (b) | 1,332 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2023 through August 31, 2024 | Prior to September 1, 2023 | |
Class A | 0.87 % | 0.87 % |
Advisor Class | 0.62 | 0.62 |
Institutional Class | 0.62 | 0.62 |
Institutional 2 Class | 0.47 | 0.52 |
Institutional 3 Class | 0.42 | 0.47 |
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
208,783 | (208,782 ) | (1 ) |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
72,016,414 | — | 72,016,414 | 54,947,335 | — | 54,947,335 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
6,347,010 | — | (166,978,361 ) | (115,085,656 ) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
1,730,671,998 | 3,406,057 | (118,491,713 ) | (115,085,656 ) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(43,404,362 ) | (123,573,999 ) | (166,978,361 ) | — |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 375,000 | 5.73 | 12 |
Section 163(j) Interest Dividends | |
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 and other relevant Board experience |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 161 | 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; former Board Member, Chase Bank International, 1993-1994 |
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 and other relevant Board experience |
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; Trustee of Gerald Rauenhorst 1982 Trusts, since 2020; 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-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 161 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (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; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; 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, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 161 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee, since 2017 and Audit Committee Chair, since November 2023); Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services company), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
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 | 161 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, January 2020-December 2023; Adjunct Professor of Finance, Bentley University January 2018-April 2023; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; 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 | 159 | Former Director, The Autism Project, March 2015-December 2021; 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 (former mutual fund complex), January 2015-December 2017 |
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 and other relevant Board experience |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | 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; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 159 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor Emeritus of Economics and Management, Bentley University, since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 161 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 |
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 | 161 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | 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 | 161 | Director, SpartanNash Company (food distributor), since November 2013 (Chair of the Board, since May 2021); Director, Aircastle Limited (aircraft leasing), since August 2006 (Chair of Audit Committee); 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 | 159 | None |
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 and other relevant Board experience |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 161 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates, January 2013-December 2015 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | 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. | 161 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 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 | 159 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. 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 | 161 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, June 2022-June 2023 |
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 and other relevant Board experience |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 | 161 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds 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, Beckman, Gallagher, Hacker and Moffett and Mses. Blatz, Carlton, Carrig, Flynn, Paglia, and Yeager serve as directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | 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. |
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009); Senior Vice President (2019); Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2024) for CFST, CFST I, CFST II, CFVIT and CFVST II | Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations, March 2022 – June 2023, Vice President, Head of North America Operations, and Co-Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. Director, Ameriprise Trust Company, since June 2023. |
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 |
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. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 - 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, TAM UK International Holdings Limited, since July 2021; formerly Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, March 2013 – December 2022 and December 2008 – December 2022, respectively; senior executive of various entities affiliated with Columbia Threadneedle Investments. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
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; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
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; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
3 | |
6 | |
8 | |
9 | |
44 | |
46 | |
48 | |
50 | |
54 | |
73 | |
74 | |
74 | |
80 |
Average annual total returns (%) (for the period ended April 30, 2024) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 07/31/00 | -0.67 | 0.13 | 1.46 |
Including sales charges | -3.66 | -0.47 | 1.15 | ||
Advisor Class | 11/08/12 | -0.43 | 0.38 | 1.71 | |
Class C | Excluding sales charges | 02/01/02 | -1.42 | -0.61 | 0.71 |
Including sales charges | -2.36 | -0.61 | 0.71 | ||
Institutional Class | 12/05/78 | -0.42 | 0.40 | 1.72 | |
Institutional 2 Class | 11/08/12 | -0.36 | 0.45 | 1.78 | |
Institutional 3 Class | 11/08/12 | -0.31 | 0.52 | 1.82 | |
Class R | 01/23/06 | -0.92 | -0.11 | 1.21 | |
Bloomberg U.S. Aggregate Bond Index | -1.47 | -0.16 | 1.20 |
Portfolio breakdown (%) (at April 30, 2024) | |
Asset-Backed Securities - Non-Agency | 15.3 |
Call Option Contracts Purchased | 0.1 |
Commercial Mortgage-Backed Securities - Non-Agency | 1.9 |
Common Stocks | 0.0 (a) |
Convertible Bonds | 0.0 (a) |
Corporate Bonds & Notes | 20.0 |
Foreign Government Obligations | 1.6 |
Inflation-Indexed Bonds | 0.2 |
Money Market Funds | 6.1 |
Put Option Contracts Purchased | 0.2 |
Residential Mortgage-Backed Securities - Agency | 34.8 |
Residential Mortgage-Backed Securities - Non-Agency | 16.9 |
Senior Loans | 1.3 |
U.S. Treasury Obligations | 1.6 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at April 30, 2024) | |
AA rating | 52.8 |
A rating | 13.5 |
BBB rating | 12.6 |
BB rating | 6.4 |
B rating | 4.9 |
CCC rating | 1.0 |
CC rating | 0.0 (a) |
Not rated | 8.8 |
Total | 100.0 |
(a) | Rounds to zero. |
Derivative breakdown (%) (at April 30, 2024)(a) | |||
Asset | Liability | Net | |
Forward foreign currency exchange contracts | — | (0.00 )(b) | (0.00 )(b) |
Long futures contracts | — | (0.67 ) | (0.67 ) |
Short futures contracts | 0.17 | — | 0.17 |
Swap contracts | 0.09 | (0.08 ) | 0.01 |
November 1, 2023 — April 30, 2024 | |||||||
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 | 1,061.10 | 1,021.18 | 3.79 | 3.72 | 0.74 |
Advisor Class | 1,000.00 | 1,000.00 | 1,062.10 | 1,022.43 | 2.51 | 2.46 | 0.49 |
Class C | 1,000.00 | 1,000.00 | 1,056.80 | 1,017.45 | 7.62 | 7.47 | 1.49 |
Institutional Class | 1,000.00 | 1,000.00 | 1,062.40 | 1,022.43 | 2.51 | 2.46 | 0.49 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,062.50 | 1,022.77 | 2.15 | 2.11 | 0.42 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,063.00 | 1,022.97 | 1.95 | 1.91 | 0.38 |
Class R | 1,000.00 | 1,000.00 | 1,059.40 | 1,019.94 | 5.07 | 4.97 | 0.99 |
Asset-Backed Securities - Non-Agency 17.1% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
ACHV ABS Trust(a) | ||||
Subordinated Series 2024-1PL Class B | ||||
04/25/2031 | 6.340% | 3,600,000 | 3,586,513 | |
ACM Auto Trust(a) | ||||
Series 2023-2A Class A | ||||
06/20/2030 | 7.970% | 4,530,835 | 4,556,190 | |
Affirm Asset Securitization Trust(a) | ||||
Series 2023-A Class 1A | ||||
01/18/2028 | 6.610% | 7,000,000 | 7,030,241 | |
Series 2023-A Class A | ||||
01/18/2028 | 6.610% | 7,950,000 | 7,984,346 | |
Series 2023-B Class 1A | ||||
09/15/2028 | 6.820% | 14,800,000 | 14,963,389 | |
Series 2023-B Class A | ||||
09/15/2028 | 6.820% | 8,550,000 | 8,644,390 | |
Ares LVIII CLO Ltd.(a),(b) | ||||
Series 2020-58A Class DR | ||||
3-month Term SOFR + 3.200% Floor 3.200% 01/15/2035 | 8.529% | 5,000,000 | 4,996,855 | |
Ares XLVI CLO Ltd.(a),(b) | ||||
Series 2017-46A Class B1 | ||||
3-month Term SOFR + 1.612% Floor 1.350% 01/15/2030 | 6.940% | 7,780,000 | 7,780,000 | |
Atrium XIII(a),(b) | ||||
Series 2013A Class B | ||||
3-month Term SOFR + 1.762% Floor 1.500% 11/21/2030 | 7.088% | 2,250,000 | 2,232,839 | |
Bain Capital Credit CLO Ltd.(a),(b) | ||||
Series 2020-3A Class DR | ||||
3-month Term SOFR + 3.512% Floor 3.250% 10/23/2034 | 8.838% | 8,250,000 | 8,256,740 | |
Carlyle Global Market Strategies CLO Ltd.(a),(b) | ||||
Series 2016-1A Class A1R2 | ||||
3-month Term SOFR + 1.402% Floor 1.140% 04/20/2034 | 6.726% | 13,150,000 | 13,157,824 | |
Carlyle Group LP(a),(b) | ||||
Series 2017-5A Class A2 | ||||
3-month Term SOFR + 1.662% 01/20/2030 | 6.986% | 3,810,000 | 3,798,372 | |
Carvana Auto Receivables Trust(a) | ||||
Series 2023-P3 Class A2 | ||||
11/10/2026 | 6.090% | 3,310,054 | 3,312,640 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cent CLO Ltd.(a),(b) | ||||
Series 2018-C17A Class A2R | ||||
3-month Term SOFR + 1.862% Floor 1.600% 04/30/2031 | 7.191% | 9,300,000 | 9,250,217 | |
Citizens Auto Receivables Trust(a) | ||||
Series 2024-1 Class A2A | ||||
10/15/2026 | 5.430% | 13,065,000 | 13,040,193 | |
Conn’s Receivables Funding LLC(a) | ||||
Series 2023-A Class A | ||||
01/17/2028 | 8.010% | 366,580 | 367,092 | |
Dryden CLO Ltd.(a),(b) | ||||
Series 2018-57A Class B | ||||
3-month Term SOFR + 1.612% Floor 1.350% 05/15/2031 | 6.919% | 7,000,000 | 7,000,896 | |
DT Auto Owner Trust(a) | ||||
Series 2023-2A Class A | ||||
04/15/2027 | 5.880% | 4,983,548 | 4,984,145 | |
Subordinated Series 2022-1A Class C | ||||
11/15/2027 | 2.960% | 8,537,175 | 8,440,559 | |
Subordinated Series 2023-3A Class B | ||||
03/15/2028 | 6.070% | 15,200,000 | 15,122,185 | |
Exeter Automobile Receivables Trust | ||||
Series 2024-2A Class A2 | ||||
05/15/2026 | 5.700% | 8,400,000 | 8,398,757 | |
Subordinated Series 2023-3A Class B | ||||
09/15/2027 | 6.110% | 3,000,000 | 2,999,359 | |
Exeter Automobile Receivables Trust(a) | ||||
Subordinated Series 2021-2A Class E | ||||
07/17/2028 | 2.900% | 6,000,000 | 5,600,307 | |
GLS Auto Receivables Issuer Trust(a) | ||||
Subordinated Series 2022-1A-B Class B | ||||
05/15/2026 | 2.840% | 1,939,183 | 1,932,427 | |
GLS Auto Select Receivables Trust(a) | ||||
Series 2024-2A Class A2 | ||||
06/17/2030 | 5.580% | 7,950,000 | 7,929,631 | |
Goldentree Loan Opportunities XI Ltd.(a),(b) | ||||
Series 2015-11A Class BR2 | ||||
3-month Term SOFR + 1.612% 01/18/2031 | 6.939% | 5,000,000 | 4,988,205 | |
LendingPoint Asset Securitization Trust(a) | ||||
Subordinated Series 2022-A Class C | ||||
06/15/2029 | 2.820% | 1,966,268 | 1,952,385 | |
Madison Park Funding XXVII Ltd.(a),(b) | ||||
Series 2018-27A Class A2 | ||||
3-month Term SOFR + 1.612% 04/20/2030 | 6.936% | 14,000,000 | 13,984,880 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Marlette Funding Trust(a) | ||||
Series 2020-2A Class D | ||||
09/16/2030 | 4.650% | 425,764 | 425,509 | |
Series 2023-2A Class A | ||||
06/15/2033 | 6.040% | 4,047,965 | 4,049,954 | |
Series 2023-3A Class A | ||||
09/15/2033 | 6.490% | 5,554,985 | 5,561,681 | |
Subordinated Series 2022-2A Class C | ||||
08/15/2032 | 6.140% | 4,510,000 | 4,476,241 | |
Netcredit Combined Receivables LLC(a),(c),(d) | ||||
Series 2023-A Class A | ||||
12/20/2027 | 7.780% | 3,740,282 | 3,751,971 | |
Octagon Investment Partners 35 Ltd.(a),(b) | ||||
Series 2018-1A Class A2 | ||||
3-month Term SOFR + 1.662% Floor 1.400% 01/20/2031 | 6.986% | 9,350,000 | 9,365,343 | |
OHA Credit Partners XVI(a),(b) | ||||
Series 2021-16A Class A | ||||
3-month Term SOFR + 1.412% Floor 1.150% 10/18/2034 | 6.739% | 13,280,000 | 13,339,295 | |
Oportun Issuance Trust(a) | ||||
Series 2021-B Class A | ||||
05/08/2031 | 1.470% | 15,100,000 | 14,264,899 | |
Subordinated Series 2021-B Class B | ||||
05/08/2031 | 1.960% | 3,100,000 | 2,940,048 | |
Pagaya AI Debt Selection Trust(a) | ||||
Series 2021-2 Class NOTE | ||||
01/25/2029 | 3.000% | 1,590,191 | 1,561,240 | |
Series 2021-HG1 Class A | ||||
01/16/2029 | 1.220% | 1,017,598 | 996,532 | |
Subordinated Series 2021-3 Class B | ||||
05/15/2029 | 1.740% | 1,439,135 | 1,433,976 | |
Subordinated Series 2021-5 Class B | ||||
08/15/2029 | 2.630% | 6,478,949 | 6,417,466 | |
Subordinated Series 2021-HG1 Class B | ||||
01/16/2029 | 1.820% | 308,286 | 303,059 | |
Pagaya AI Debt Trust(a) | ||||
Series 2022-2 Class A | ||||
01/15/2030 | 4.970% | 1,334,599 | 1,330,310 | |
Series 2023-1 Class A | ||||
07/15/2030 | 7.556% | 4,774,802 | 4,795,550 | |
Series 2023-3 Class A | ||||
12/16/2030 | 7.600% | 10,000,581 | 10,064,481 | |
Series 2023-6 Class A | ||||
06/16/2031 | 7.128% | 9,119,551 | 9,147,377 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2024-2 Class A | ||||
08/15/2031 | 6.319% | 4,000,000 | 3,994,772 | |
Series 2024-3 Class A | ||||
10/15/2031 | 6.258% | 6,750,000 | 6,741,849 | |
Subordinated Series 2022-1 Class B | ||||
10/15/2029 | 3.344% | 10,598,598 | 10,352,468 | |
Subordinated Series 2022-3 Class B | ||||
03/15/2030 | 8.050% | 6,999,321 | 7,058,060 | |
Subordinated Series 2023-1 Class B | ||||
07/15/2030 | 9.435% | 6,899,041 | 7,039,028 | |
Subordinated Series 2023-6 Class B | ||||
06/16/2031 | 7.464% | 10,997,180 | 11,048,361 | |
Subordinated Series 2024-3 Class B | ||||
10/15/2031 | 6.571% | 10,100,000 | 10,090,693 | |
Subordinated Series 2024-3 Class C | ||||
10/15/2031 | 7.297% | 5,280,000 | 5,273,251 | |
Pagaya AI Debt Trust(a),(e) | ||||
Subordinated Series 2023-5 Class AB | ||||
04/15/2031 | 7.321% | 7,546,350 | 7,575,960 | |
PAGAYA AI Debt Trust(a),(e) | ||||
Subordinated Series 2022-3 Class AB | ||||
03/15/2030 | 6.876% | 1,543,594 | 1,550,570 | |
Palmer Square Loan Funding Ltd.(a),(b) | ||||
Series 2021-4A Class B | ||||
3-month Term SOFR + 2.012% Floor 1.750% 10/15/2029 | 7.340% | 15,000,000 | 14,929,275 | |
Series 2022-3A Class A1BR | ||||
3-month Term SOFR + 1.400% Floor 1.400% 04/15/2031 | 6.729% | 9,900,000 | 9,900,970 | |
Reach ABS Trust(a) | ||||
Series 2024-1A Class A | ||||
02/18/2031 | 6.300% | 7,379,090 | 7,387,795 | |
Research-Driven Pagaya Motor Asset Trust(a) | ||||
Series 2023-4A Class A | ||||
03/25/2032 | 7.540% | 10,902,373 | 10,888,432 | |
Research-Driven Pagaya Motor Asset Trust IV(a) | ||||
Series 2021-2A Class A | ||||
03/25/2030 | 2.650% | 2,879,622 | 2,778,150 | |
Research-Driven Pagaya Motor Trust(a) | ||||
Series 2024-1A Class A | ||||
06/25/2032 | 7.090% | 7,525,000 | 7,523,445 | |
SAFCO Auto Receivables Trust(a) | ||||
Series 2024-1A Class A | ||||
03/20/2028 | 6.510% | 5,991,942 | 5,969,484 | |
Santander Drive Auto Receivables Trust | ||||
Series 2024-1 Class A2 | ||||
02/16/2027 | 5.710% | 12,622,987 | 12,618,285 |
Asset-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Santander Revolving Auto Loan Trust(a) | ||||
Series 2019-A Class A | ||||
01/26/2032 | 2.510% | 6,992,000 | 6,817,390 | |
Stewart Park CLO Ltd.(a),(b) | ||||
Series 2017-1A Class BR | ||||
3-month Term SOFR + 1.632% Floor 1.370% 01/15/2030 | 6.960% | 5,828,571 | 5,826,997 | |
Theorem Funding Trust(a) | ||||
Series 2022-3A Class A | ||||
04/15/2029 | 7.600% | 5,177,093 | 5,215,375 | |
Series 2023-1A Class A | ||||
04/15/2029 | 7.580% | 6,764,630 | 6,819,812 | |
Upstart Pass-Through Trust(a) | ||||
Series 2020-ST6 Class A | ||||
01/20/2027 | 3.000% | 633,423 | 628,996 | |
Series 2021-ST10 Class A | ||||
01/20/2030 | 2.250% | 1,432,592 | 1,404,731 | |
Series 2021-ST4 Class A | ||||
07/20/2027 | 2.000% | 1,772,138 | 1,714,148 | |
Series 2021-ST5 Class A | ||||
07/20/2027 | 2.000% | 1,389,832 | 1,352,327 | |
Upstart Securitization Trust(a) | ||||
Series 2023-1 Class A | ||||
02/20/2033 | 6.590% | 1,756,820 | 1,756,201 | |
Series 2023-2 Class A | ||||
06/20/2033 | 6.770% | 5,179,117 | 5,190,465 | |
Subordinated Series 2021-4 Class B | ||||
09/20/2031 | 1.840% | 6,676,638 | 6,592,683 | |
Voya CLO Ltd.(a),(b) | ||||
Series 2021-1A Class D | ||||
3-month Term SOFR + 3.412% Floor 3.150% 07/15/2034 | 8.740% | 8,350,000 | 8,354,083 | |
Westlake Automobile Receivables Trust(a) | ||||
Series 2023-3A Class A3 | ||||
05/17/2027 | 5.820% | 4,800,000 | 4,802,991 | |
Total Asset-Backed Securities — Non-Agency (Cost $489,878,027) | 489,713,556 | |||
Commercial Mortgage-Backed Securities - Non-Agency 2.1% | ||||
BAMLL Commercial Mortgage Securities Trust(a),(e) | ||||
Series 2013-WBRK Class A | ||||
03/10/2037 | 3.652% | 3,000,000 | 2,778,908 | |
BBCMS Trust(a),(b) | ||||
Subordinated Series 2018-BXH Class E | ||||
1-month Term SOFR + 2.364% Floor 2.250% 10/15/2037 | 7.686% | 4,790,000 | 4,726,009 |
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
BFLD Trust(a),(b) | ||||
Series 2019-DPLO Class F | ||||
1-month Term SOFR + 2.654% Floor 2.540% 10/15/2034 | 7.976% | 1,800,000 | 1,786,102 | |
Braemar Hotels & Resorts Trust(a),(b) | ||||
Subordinated Series 2018-PRME Class D | ||||
1-month Term SOFR + 1.847% Floor 1.925% 06/15/2035 | 7.236% | 3,100,000 | 3,042,281 | |
CLNY Trust(a),(b) | ||||
Subordinated Series 2019-IKPR Class D | ||||
1-month Term SOFR + 2.025% Floor 2.140% 11/15/2038 | 7.461% | 1,050,000 | 973,932 | |
Subordinated Series 2019-IKPR Class E | ||||
1-month Term SOFR + 2.835% Floor 2.721% 11/15/2038 | 8.157% | 5,250,000 | 4,692,086 | |
COMM Mortgage Trust(a),(e) | ||||
Subordinated Series 2020-CBM Class E | ||||
02/10/2037 | 3.754% | 4,850,000 | 4,602,096 | |
Credit Suisse Mortgage Capital Certificates OA LLC(a) | ||||
Subordinated Series 2014-USA Class E | ||||
09/15/2037 | 4.373% | 8,285,000 | 4,371,084 | |
Subordinated Series 2014-USA Class F | ||||
09/15/2037 | 4.373% | 7,750,000 | 2,873,919 | |
Hilton USA Trust(a) | ||||
Subordinated Series 2016-SFP Class E | ||||
11/05/2035 | 5.519% | 5,500,000 | 549,247 | |
Morgan Stanley Capital I Trust(a),(e) | ||||
Series 2019-MEAD Class E | ||||
11/10/2036 | 3.283% | 6,200,000 | 5,403,433 | |
Progress Residential Trust(a) | ||||
Series 2020-SFR1 Class E | ||||
04/17/2037 | 3.032% | 8,750,000 | 8,453,983 | |
Subordinated Series 2020-SFR2 Class E | ||||
06/17/2037 | 5.115% | 2,800,000 | 2,744,658 | |
SFO Commercial Mortgage Trust(a),(b) | ||||
Series 2021-555 Class A | ||||
1-month Term SOFR + 1.264% Floor 1.150% 05/15/2038 | 6.586% | 5,000,000 | 4,775,266 | |
UBS Commercial Mortgage Trust(a),(b) | ||||
Series 2018-NYCH Class B | ||||
1-month Term SOFR + 1.297% Floor 1.250% 02/15/2032 | 6.618% | 4,800,000 | 4,627,925 |
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Wells Fargo Commercial Mortgage Trust(a),(b) | ||||
Series 2017-SMP Class A | ||||
1-month Term SOFR + 1.047% Floor 0.875% 12/15/2034 | 6.368% | 4,555,000 | 4,305,983 | |
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost $74,928,545) | 60,706,912 |
Common Stocks 0.0% | ||
Issuer | Shares | Value ($) |
Financials 0.0% | ||
Financial Services 0.0% | ||
Mr. Cooper Group, Inc.(f) | 4,518 | 348,789 |
Total Financials | 348,789 | |
Industrials 0.0% | ||
Passenger Airlines 0.0% | ||
United Airlines Holdings, Inc.(f) | 1,493 | 76,830 |
Total Industrials | 76,830 | |
Total Common Stocks (Cost $1,511,077) | 425,619 |
Convertible Bonds 0.0% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cable and Satellite 0.0% | ||||
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 572,000 | 348,919 | |
Total Convertible Bonds (Cost $554,460) | 348,919 | |||
Corporate Bonds & Notes(g) 22.2% | ||||
Aerospace & Defense 1.1% | ||||
BAE Systems PLC(a) | ||||
03/26/2029 | 5.125% | 3,378,000 | 3,316,841 | |
Boeing Co. (The) | ||||
08/01/2059 | 3.950% | 8,278,000 | 5,177,418 | |
Boeing Co. (The)(a),(h) | ||||
05/01/2064 | 7.008% | 1,554,000 | 1,555,203 | |
Bombardier, Inc.(a) | ||||
07/01/2031 | 7.250% | 123,000 | 123,348 | |
L3Harris Technologies, Inc. | ||||
07/31/2033 | 5.400% | 2,169,000 | 2,112,510 | |
Northrop Grumman Corp. | ||||
06/01/2034 | 4.900% | 9,412,000 | 8,967,795 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Raytheon Technologies Corp. | ||||
03/15/2032 | 2.375% | 7,665,000 | 6,129,584 | |
Spirit AeroSystems, Inc.(a) | ||||
11/30/2029 | 9.375% | 198,000 | 214,344 | |
11/15/2030 | 9.750% | 446,000 | 493,445 | |
TransDigm, Inc.(a) | ||||
08/15/2028 | 6.750% | 626,000 | 628,593 | |
03/01/2029 | 6.375% | 954,000 | 947,995 | |
03/01/2032 | 6.625% | 975,000 | 974,273 | |
Total | 30,641,349 | |||
Airlines 0.1% | ||||
Air Canada(a) | ||||
08/15/2026 | 3.875% | 435,000 | 412,837 | |
American Airlines, Inc.(a) | ||||
05/15/2029 | 8.500% | 230,000 | 239,558 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(a) | ||||
04/20/2026 | 5.500% | 1,405,095 | 1,389,370 | |
04/20/2029 | 5.750% | 546,571 | 527,872 | |
Hawaiian Brand Intellectual Property Ltd./Miles Loyalty Ltd.(a) | ||||
01/20/2026 | 5.750% | 803,554 | 754,651 | |
United Airlines, Inc.(a) | ||||
04/15/2026 | 4.375% | 820,000 | 789,160 | |
04/15/2029 | 4.625% | 240,000 | 221,323 | |
Total | 4,334,771 | |||
Automotive 0.1% | ||||
American Axle & Manufacturing, Inc. | ||||
04/01/2027 | 6.500% | 20,000 | 19,744 | |
Panther BF Aggregator 2 LP/Finance Co., Inc.(a) | ||||
05/15/2026 | 6.250% | 985,000 | 983,997 | |
05/15/2027 | 8.500% | 640,000 | 640,813 | |
ZF North America Capital, Inc.(a) | ||||
04/14/2030 | 7.125% | 340,000 | 347,762 | |
04/23/2032 | 6.875% | 345,000 | 348,716 | |
Total | 2,341,032 | |||
Banking 5.6% | ||||
Ally Financial, Inc. | ||||
05/21/2024 | 3.875% | 185,000 | 184,776 | |
Subordinated | ||||
11/20/2025 | 5.750% | 870,000 | 862,912 | |
Bank of America Corp.(i) | ||||
10/20/2032 | 2.572% | 27,137,000 | 21,894,476 | |
02/04/2033 | 2.972% | 18,480,000 | 15,234,934 | |
Subordinated | ||||
09/21/2036 | 2.482% | 503,000 | 393,295 | |
Citigroup, Inc.(i) | ||||
01/25/2033 | 3.057% | 11,756,000 | 9,736,075 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Goldman Sachs Group, Inc. (The)(i) | ||||
07/21/2032 | 2.383% | 17,162,000 | 13,720,540 | |
10/21/2032 | 2.650% | 5,411,000 | 4,380,023 | |
HSBC Holdings PLC(i) | ||||
05/24/2032 | 2.804% | 8,837,000 | 7,210,804 | |
JPMorgan Chase & Co.(i) | ||||
04/22/2032 | 2.580% | 10,062,000 | 8,280,396 | |
11/08/2032 | 2.545% | 18,610,000 | 15,069,625 | |
04/22/2035 | 5.766% | 5,287,000 | 5,296,960 | |
Morgan Stanley(i) | ||||
07/21/2032 | 2.239% | 4,496,000 | 3,572,982 | |
10/20/2032 | 2.511% | 13,530,000 | 10,881,891 | |
04/19/2035 | 5.831% | 10,188,000 | 10,193,362 | |
Subordinated | ||||
09/16/2036 | 2.484% | 3,715,000 | 2,868,590 | |
PNC Financial Services Group, Inc. (The)(i) | ||||
10/20/2034 | 6.875% | 1,450,000 | 1,539,889 | |
US Bancorp(i) | ||||
06/12/2034 | 5.836% | 2,529,000 | 2,497,679 | |
Washington Mutual Bank(c),(d),(j) | ||||
Subordinated | ||||
01/15/2015 | 0.000% | 27,379,000 | 41,069 | |
Wells Fargo & Co.(i) | ||||
10/30/2030 | 2.879% | 729,000 | 632,823 | |
07/25/2034 | 5.557% | 26,436,000 | 25,755,384 | |
Total | 160,248,485 | |||
Brokerage/Asset Managers/Exchanges 0.1% | ||||
AG Issuer LLC(a) | ||||
03/01/2028 | 6.250% | 385,000 | 372,660 | |
AG TTMT Escrow Issuer LLC(a) | ||||
09/30/2027 | 8.625% | 567,000 | 584,014 | |
Aretec Escrow Issuer 2, Inc.(a) | ||||
08/15/2030 | 10.000% | 634,000 | 688,799 | |
Aretec Escrow Issuer, Inc.(a) | ||||
04/01/2029 | 7.500% | 278,000 | 262,133 | |
Hightower Holding LLC(a) | ||||
04/15/2029 | 6.750% | 314,000 | 294,774 | |
Total | 2,202,380 | |||
Building Materials 0.2% | ||||
American Builders & Contractors Supply Co., Inc.(a) | ||||
01/15/2028 | 4.000% | 462,000 | 425,267 | |
Beacon Roofing Supply, Inc.(a) | ||||
11/15/2026 | 4.500% | 463,000 | 444,378 | |
08/01/2030 | 6.500% | 312,000 | 311,517 | |
James Hardie International Finance DAC(a) | ||||
01/15/2028 | 5.000% | 250,000 | 240,194 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
SRS Distribution, Inc.(a) | ||||
07/01/2029 | 6.125% | 556,000 | 565,148 | |
12/01/2029 | 6.000% | 447,000 | 452,860 | |
Standard Industries, Inc.(a) | ||||
01/15/2028 | 4.750% | 915,000 | 861,718 | |
Summit Materials LLC /Finance Corp.(a) | ||||
01/15/2031 | 7.250% | 378,000 | 388,269 | |
Summit Materials LLC/Finance Corp.(a) | ||||
01/15/2029 | 5.250% | 62,000 | 59,592 | |
White Cap Buyer LLC(a) | ||||
10/15/2028 | 6.875% | 675,000 | 652,094 | |
Total | 4,401,037 | |||
Cable and Satellite 0.8% | ||||
CCO Holdings LLC/Capital Corp.(a) | ||||
05/01/2027 | 5.125% | 258,000 | 241,955 | |
02/01/2028 | 5.000% | 788,000 | 717,877 | |
06/01/2029 | 5.375% | 233,000 | 205,089 | |
03/01/2030 | 4.750% | 1,000,000 | 831,619 | |
02/01/2031 | 4.250% | 194,000 | 152,287 | |
02/01/2032 | 4.750% | 619,000 | 486,089 | |
CCO Holdings LLC/Capital Corp. | ||||
05/01/2032 | 4.500% | 2,448,000 | 1,875,365 | |
CCO Holdings LLC/Holdings Capital Corp.(a) | ||||
01/15/2034 | 4.250% | 210,000 | 152,221 | |
Charter Communications Operating LLC/Capital | ||||
05/01/2047 | 5.375% | 1,980,000 | 1,516,295 | |
12/01/2061 | 4.400% | 8,176,000 | 5,061,753 | |
06/30/2062 | 3.950% | 5,093,000 | 2,895,893 | |
CSC Holdings LLC(a) | ||||
02/01/2028 | 5.375% | 640,000 | 492,515 | |
01/31/2029 | 11.750% | 235,000 | 209,840 | |
01/15/2030 | 5.750% | 402,000 | 175,906 | |
12/01/2030 | 4.125% | 733,000 | 467,543 | |
02/15/2031 | 3.375% | 961,000 | 594,709 | |
DISH Network Corp.(a) | ||||
11/15/2027 | 11.750% | 1,492,000 | 1,504,734 | |
Sirius XM Radio, Inc.(a) | ||||
09/01/2026 | 3.125% | 342,000 | 318,985 | |
08/01/2027 | 5.000% | 548,000 | 517,575 | |
07/15/2028 | 4.000% | 813,000 | 724,301 | |
07/01/2030 | 4.125% | 244,000 | 207,400 | |
Videotron Ltd.(a) | ||||
06/15/2029 | 3.625% | 2,201,000 | 1,956,627 | |
Virgin Media Finance PLC(a) | ||||
07/15/2030 | 5.000% | 542,000 | 443,738 | |
Virgin Media Secured Finance PLC(a) | ||||
05/15/2029 | 5.500% | 316,000 | 287,486 | |
VZ Secured Financing BV(a) | ||||
01/15/2032 | 5.000% | 873,000 | 736,780 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Ziggo Bond Co. BV(a) | ||||
02/28/2030 | 5.125% | 373,000 | 309,833 | |
Ziggo BV(a) | ||||
01/15/2030 | 4.875% | 1,110,000 | 972,622 | |
Total | 24,057,037 | |||
Chemicals 0.4% | ||||
Avient Corp.(a) | ||||
08/01/2030 | 7.125% | 301,000 | 304,850 | |
Axalta Coating Systems LLC(a) | ||||
02/15/2029 | 3.375% | 221,000 | 194,466 | |
Axalta Coating Systems LLC/Dutch Holding B BV(a) | ||||
06/15/2027 | 4.750% | 408,000 | 391,129 | |
Braskem Netherlands Finance BV(a) | ||||
01/31/2030 | 4.500% | 1,500,000 | 1,265,485 | |
Cheever Escrow Issuer LLC(a) | ||||
10/01/2027 | 7.125% | 439,000 | 444,335 | |
Element Solutions, Inc.(a) | ||||
09/01/2028 | 3.875% | 618,000 | 556,887 | |
HB Fuller Co. | ||||
10/15/2028 | 4.250% | 633,000 | 584,509 | |
Herens Holdco Sarl(a) | ||||
05/15/2028 | 4.750% | 681,000 | 592,372 | |
Illuminate Buyer LLC/Holdings IV, Inc.(a) | ||||
07/01/2028 | 9.000% | 324,000 | 316,823 | |
INEOS Finance PLC(a) | ||||
04/15/2029 | 7.500% | 647,000 | 651,327 | |
INEOS Quattro Finance 2 PLC(a) | ||||
03/15/2029 | 9.625% | 616,000 | 650,544 | |
Ingevity Corp.(a) | ||||
11/01/2028 | 3.875% | 652,000 | 580,874 | |
Innophos Holdings, Inc.(a) | ||||
02/15/2028 | 9.375% | 305,000 | 263,577 | |
Iris Holdings, Inc.(a),(k) | ||||
02/15/2026 | 8.750% | 188,000 | 159,026 | |
Olympus Water US Holding Corp.(a) | ||||
10/01/2028 | 4.250% | 568,000 | 511,752 | |
11/15/2028 | 9.750% | 1,134,000 | 1,204,314 | |
10/01/2029 | 6.250% | 742,000 | 666,917 | |
SPCM SA(a) | ||||
03/15/2027 | 3.125% | 190,000 | 174,954 | |
WR Grace Holdings LLC(a) | ||||
06/15/2027 | 4.875% | 836,000 | 793,961 | |
08/15/2029 | 5.625% | 1,218,000 | 1,092,246 | |
03/01/2031 | 7.375% | 159,000 | 161,204 | |
Total | 11,561,552 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Construction Machinery 0.1% | ||||
H&E Equipment Services, Inc.(a) | ||||
12/15/2028 | 3.875% | 1,187,000 | 1,050,442 | |
Herc Holdings, Inc.(a) | ||||
07/15/2027 | 5.500% | 87,000 | 84,505 | |
Ritchie Bros Holdings, Inc.(a) | ||||
03/15/2028 | 6.750% | 519,000 | 524,269 | |
03/15/2031 | 7.750% | 201,000 | 208,518 | |
United Rentals North America, Inc. | ||||
05/15/2027 | 5.500% | 179,000 | 176,519 | |
02/15/2031 | 3.875% | 194,000 | 170,138 | |
01/15/2032 | 3.750% | 203,000 | 173,422 | |
Total | 2,387,813 | |||
Consumer Cyclical Services 0.1% | ||||
APX Group, Inc.(a) | ||||
07/15/2029 | 5.750% | 98,000 | 91,024 | |
Arches Buyer, Inc.(a) | ||||
06/01/2028 | 4.250% | 856,000 | 734,257 | |
12/01/2028 | 6.125% | 633,000 | 520,250 | |
Match Group, Inc.(a) | ||||
06/01/2028 | 4.625% | 1,142,000 | 1,056,822 | |
Uber Technologies, Inc.(a) | ||||
08/15/2029 | 4.500% | 2,043,000 | 1,909,099 | |
Total | 4,311,452 | |||
Consumer Products 0.1% | ||||
Acushnet Co.(a) | ||||
10/15/2028 | 7.375% | 96,000 | 98,548 | |
CD&R Smokey Buyer, Inc.(a) | ||||
07/15/2025 | 6.750% | 1,064,000 | 1,058,881 | |
Newell Brands, Inc. | ||||
06/01/2025 | 4.875% | 371,000 | 365,131 | |
09/15/2027 | 6.375% | 215,000 | 210,968 | |
Scotts Miracle-Gro Co. (The) | ||||
04/01/2031 | 4.000% | 185,000 | 156,024 | |
Spectrum Brands, Inc.(a) | ||||
10/01/2029 | 5.000% | 618,000 | 602,505 | |
07/15/2030 | 5.500% | 226,000 | 219,170 | |
03/15/2031 | 3.875% | 247,000 | 231,583 | |
Total | 2,942,810 | |||
Diversified Manufacturing 0.5% | ||||
Carrier Global Corp. | ||||
02/15/2030 | 2.722% | 8,257,000 | 7,129,772 | |
Chart Industries, Inc.(a) | ||||
01/01/2030 | 7.500% | 340,000 | 347,970 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Emerald Debt Merger Sub LLC(a) | ||||
12/15/2030 | 6.625% | 1,325,000 | 1,315,643 | |
Esab Corp.(a) | ||||
04/15/2029 | 6.250% | 222,000 | 221,242 | |
Gates Global LLC/Co.(a) | ||||
01/15/2026 | 6.250% | 1,009,000 | 1,009,204 | |
Madison IAQ LLC(a) | ||||
06/30/2028 | 4.125% | 233,000 | 216,103 | |
06/30/2029 | 5.875% | 587,000 | 545,059 | |
Resideo Funding, Inc.(a) | ||||
09/01/2029 | 4.000% | 618,000 | 541,610 | |
Vertical US Newco, Inc.(a) | ||||
07/15/2027 | 5.250% | 329,000 | 314,671 | |
WESCO Distribution, Inc.(a) | ||||
06/15/2025 | 7.125% | 432,000 | 432,390 | |
06/15/2028 | 7.250% | 1,050,000 | 1,067,900 | |
03/15/2029 | 6.375% | 407,000 | 404,697 | |
03/15/2032 | 6.625% | 523,000 | 520,412 | |
Total | 14,066,673 | |||
Electric 1.2% | ||||
AEP Texas, Inc. | ||||
01/15/2050 | 3.450% | 3,890,000 | 2,538,903 | |
Clearway Energy Operating LLC(a) | ||||
03/15/2028 | 4.750% | 315,000 | 297,029 | |
02/15/2031 | 3.750% | 1,016,000 | 859,058 | |
01/15/2032 | 3.750% | 668,000 | 553,418 | |
Duke Energy Corp. | ||||
09/01/2046 | 3.750% | 8,515,000 | 6,072,354 | |
Edison International | ||||
11/15/2028 | 5.250% | 5,156,000 | 5,051,711 | |
Emera US Finance LP | ||||
06/15/2046 | 4.750% | 4,919,000 | 3,840,978 | |
FirstEnergy Corp. | ||||
03/01/2050 | 3.400% | 1,537,000 | 986,448 | |
Leeward Renewable Energy Operations LLC(a) | ||||
07/01/2029 | 4.250% | 135,000 | 111,723 | |
NextEra Energy Operating Partners LP(a) | ||||
07/15/2024 | 4.250% | 988,000 | 984,750 | |
10/15/2026 | 3.875% | 117,000 | 109,487 | |
09/15/2027 | 4.500% | 781,000 | 727,802 | |
01/15/2029 | 7.250% | 488,000 | 494,771 | |
NRG Energy, Inc. | ||||
01/15/2028 | 5.750% | 384,000 | 377,601 | |
NRG Energy, Inc.(a) | ||||
02/15/2029 | 3.375% | 182,000 | 159,809 | |
06/15/2029 | 5.250% | 274,000 | 259,423 | |
02/15/2032 | 3.875% | 205,000 | 172,775 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Pacific Gas and Electric Co. | ||||
07/01/2050 | 4.950% | 9,055,000 | 7,369,778 | |
Pattern Energy Operations LP/Inc.(a) | ||||
08/15/2028 | 4.500% | 132,000 | 118,069 | |
PG&E Corp. | ||||
07/01/2028 | 5.000% | 80,000 | 76,259 | |
TerraForm Power Operating LLC(a) | ||||
01/31/2028 | 5.000% | 331,000 | 309,741 | |
01/15/2030 | 4.750% | 796,000 | 710,359 | |
Vistra Operations Co. LLC(a) | ||||
09/01/2026 | 5.500% | 68,000 | 66,357 | |
07/31/2027 | 5.000% | 712,000 | 677,600 | |
05/01/2029 | 4.375% | 586,000 | 534,207 | |
10/15/2031 | 7.750% | 900,000 | 925,269 | |
04/15/2032 | 6.875% | 271,000 | 269,768 | |
Total | 34,655,447 | |||
Environmental 0.1% | ||||
GFL Environmental, Inc.(a) | ||||
12/15/2026 | 5.125% | 274,000 | 267,633 | |
08/01/2028 | 4.000% | 343,000 | 311,346 | |
06/15/2029 | 4.750% | 504,000 | 465,053 | |
01/15/2031 | 6.750% | 744,000 | 750,496 | |
Waste Pro USA, Inc.(a) | ||||
02/15/2026 | 5.500% | 1,255,000 | 1,227,654 | |
Total | 3,022,182 | |||
Finance Companies 0.3% | ||||
GGAM Finance Ltd.(a) | ||||
02/15/2027 | 8.000% | 646,000 | 663,409 | |
04/15/2029 | 6.875% | 327,000 | 327,276 | |
Navient Corp. | ||||
06/25/2025 | 6.750% | 79,000 | 78,805 | |
06/15/2026 | 6.750% | 579,000 | 577,755 | |
03/15/2031 | 11.500% | 471,000 | 515,021 | |
OneMain Finance Corp. | ||||
01/15/2027 | 3.500% | 467,000 | 430,183 | |
01/15/2029 | 9.000% | 198,000 | 208,021 | |
03/15/2030 | 7.875% | 581,000 | 592,943 | |
09/15/2030 | 4.000% | 212,000 | 178,463 | |
Provident Funding Associates LP/Finance Corp.(a) | ||||
06/15/2025 | 6.375% | 524,000 | 504,582 | |
Quicken Loans LLC/Co-Issuer, Inc.(a) | ||||
03/01/2031 | 3.875% | 975,000 | 829,719 | |
Rocket Mortgage LLC/Co-Issuer, Inc.(a) | ||||
10/15/2033 | 4.000% | 3,877,000 | 3,164,877 | |
Springleaf Finance Corp. | ||||
03/15/2025 | 6.875% | 181,000 | 182,070 | |
11/15/2029 | 5.375% | 40,000 | 36,983 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United Wholesale Mortgage LLC(a) | ||||
06/15/2027 | 5.750% | 89,000 | 85,470 | |
04/15/2029 | 5.500% | 36,000 | 33,468 | |
Total | 8,409,045 | |||
Food and Beverage 0.9% | ||||
Bacardi Ltd.(a) | ||||
05/15/2048 | 5.300% | 9,130,000 | 8,080,530 | |
Becle SAB de CV(a) | ||||
10/14/2031 | 2.500% | 3,000,000 | 2,319,230 | |
Chobani LLC/Finance Corp., Inc.(a) | ||||
07/01/2029 | 7.625% | 149,000 | 150,853 | |
Constellation Brands, Inc. | ||||
05/01/2033 | 4.900% | 6,112,000 | 5,766,603 | |
FAGE International SA/USA Dairy Industry, Inc.(a) | ||||
08/15/2026 | 5.625% | 676,000 | 666,476 | |
Pepsico Singapore Financing I Pte Ltd. | ||||
02/16/2027 | 4.650% | 3,167,000 | 3,117,309 | |
Post Holdings, Inc.(a) | ||||
01/15/2028 | 5.625% | 725,000 | 703,660 | |
04/15/2030 | 4.625% | 624,000 | 563,177 | |
09/15/2031 | 4.500% | 604,000 | 531,997 | |
02/15/2032 | 6.250% | 372,000 | 367,438 | |
Primo Water Holdings, Inc.(a) | ||||
04/30/2029 | 4.375% | 702,000 | 640,151 | |
Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed(a) | ||||
03/01/2029 | 4.625% | 1,059,000 | 915,021 | |
Triton Water Holdings, Inc.(a) | ||||
04/01/2029 | 6.250% | 608,000 | 545,329 | |
US Foods, Inc.(a) | ||||
09/15/2028 | 6.875% | 367,000 | 370,767 | |
02/15/2029 | 4.750% | 334,000 | 311,765 | |
06/01/2030 | 4.625% | 328,000 | 298,664 | |
01/15/2032 | 7.250% | 341,000 | 348,882 | |
Total | 25,697,852 | |||
Gaming 0.3% | ||||
Boyd Gaming Corp. | ||||
12/01/2027 | 4.750% | 332,000 | 315,014 | |
Boyd Gaming Corp.(a) | ||||
06/15/2031 | 4.750% | 347,000 | 307,691 | |
Caesars Entertainment, Inc.(a) | ||||
10/15/2029 | 4.625% | 1,192,000 | 1,062,784 | |
02/15/2030 | 7.000% | 824,000 | 829,918 | |
02/15/2032 | 6.500% | 650,000 | 640,301 | |
Churchill Downs, Inc.(a) | ||||
01/15/2028 | 4.750% | 447,000 | 422,097 | |
Colt Merger Sub, Inc.(a) | ||||
07/01/2027 | 8.125% | 769,000 | 780,241 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
MGM Resorts International | ||||
05/01/2025 | 6.750% | 1,074,000 | 1,074,000 | |
Midwest Gaming Borrower LLC(a) | ||||
05/01/2029 | 4.875% | 408,000 | 372,784 | |
Penn National Gaming, Inc.(a) | ||||
07/01/2029 | 4.125% | 373,000 | 312,236 | |
Scientific Games Holdings LP/US FinCo, Inc.(a) | ||||
03/01/2030 | 6.625% | 731,000 | 691,945 | |
Scientific Games International, Inc.(a) | ||||
11/15/2029 | 7.250% | 406,000 | 410,185 | |
Total | 7,219,196 | |||
Health Care 1.4% | ||||
Acadia Healthcare Co., Inc.(a) | ||||
04/15/2029 | 5.000% | 669,000 | 626,960 | |
Avantor Funding, Inc.(a) | ||||
07/15/2028 | 4.625% | 326,000 | 302,949 | |
11/01/2029 | 3.875% | 826,000 | 730,686 | |
Bausch & Lomb Escrow Corp.(a) | ||||
10/01/2028 | 8.375% | 580,000 | 598,640 | |
Becton Dickinson Euro Finance SARL | ||||
08/13/2041 | 1.336% | EUR | 890,000 | 632,449 |
Catalent Pharma Solutions, Inc.(a) | ||||
02/15/2029 | 3.125% | 106,000 | 101,251 | |
04/01/2030 | 3.500% | 498,000 | 473,953 | |
Charles River Laboratories International, Inc.(a) | ||||
05/01/2028 | 4.250% | 28,000 | 26,110 | |
03/15/2029 | 3.750% | 215,000 | 193,511 | |
03/15/2031 | 4.000% | 185,000 | 161,559 | |
CHS/Community Health Systems, Inc.(a) | ||||
03/15/2027 | 5.625% | 521,000 | 477,228 | |
04/15/2029 | 6.875% | 422,000 | 312,696 | |
05/15/2030 | 5.250% | 1,064,000 | 871,467 | |
02/15/2031 | 4.750% | 672,000 | 525,171 | |
01/15/2032 | 10.875% | 255,000 | 261,373 | |
Cigna Group (The) | ||||
02/15/2054 | 5.600% | 2,350,000 | 2,215,956 | |
CVS Health Corp. | ||||
07/20/2045 | 5.125% | 3,775,000 | 3,273,695 | |
Encompass Health Corp. | ||||
02/01/2028 | 4.500% | 422,000 | 395,732 | |
HCA, Inc. | ||||
06/01/2028 | 5.200% | 2,456,000 | 2,413,447 | |
09/01/2030 | 3.500% | 20,878,000 | 18,405,122 | |
IQVIA, Inc.(a) | ||||
10/15/2026 | 5.000% | 653,000 | 638,789 | |
05/15/2030 | 6.500% | 294,000 | 295,791 | |
Medline Borrower LP/Co-Issuer, Inc.(a) | ||||
04/01/2029 | 6.250% | 324,000 | 321,888 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Mozart Debt Merger Sub, Inc.(a) | ||||
04/01/2029 | 3.875% | 591,000 | 529,093 | |
10/01/2029 | 5.250% | 1,364,000 | 1,270,110 | |
Select Medical Corp.(a) | ||||
08/15/2026 | 6.250% | 1,065,000 | 1,065,170 | |
Star Parent, Inc.(a) | ||||
10/01/2030 | 9.000% | 717,000 | 750,940 | |
Surgery Center Holdings, Inc.(a) | ||||
04/15/2032 | 7.250% | 5,000 | 4,993 | |
Tenet Healthcare Corp. | ||||
02/01/2027 | 6.250% | 389,000 | 387,816 | |
11/01/2027 | 5.125% | 521,000 | 504,172 | |
06/15/2028 | 4.625% | 591,000 | 556,405 | |
10/01/2028 | 6.125% | 543,000 | 536,695 | |
06/01/2029 | 4.250% | 84,000 | 76,922 | |
01/15/2030 | 4.375% | 442,000 | 401,707 | |
Tenet Healthcare Corp.(a) | ||||
05/15/2031 | 6.750% | 160,000 | 160,477 | |
Total | 40,500,923 | |||
Healthcare Insurance 1.7% | ||||
Aetna, Inc. | ||||
11/15/2042 | 4.125% | 972,000 | 751,085 | |
08/15/2047 | 3.875% | 529,000 | 379,022 | |
Centene Corp. | ||||
02/15/2030 | 3.375% | 615,000 | 534,934 | |
10/15/2030 | 3.000% | 21,946,000 | 18,379,101 | |
03/01/2031 | 2.500% | 7,316,000 | 5,881,435 | |
08/01/2031 | 2.625% | 4,372,000 | 3,504,286 | |
UnitedHealth Group, Inc. | ||||
04/15/2031 | 4.900% | 5,811,000 | 5,654,676 | |
04/15/2034 | 5.000% | 15,044,000 | 14,559,386 | |
Total | 49,643,925 | |||
Home Construction 0.0% | ||||
Shea Homes LP/Funding Corp. | ||||
02/15/2028 | 4.750% | 692,000 | 649,454 | |
Taylor Morrison Communities, Inc.(a) | ||||
01/15/2028 | 5.750% | 84,000 | 81,807 | |
Total | 731,261 | |||
Independent Energy 0.3% | ||||
Baytex Energy Corp.(a) | ||||
04/30/2030 | 8.500% | 526,000 | 548,047 | |
03/15/2032 | 7.375% | 730,000 | 738,441 | |
Civitas Resources, Inc.(a) | ||||
07/01/2028 | 8.375% | 209,000 | 218,083 | |
11/01/2030 | 8.625% | 187,000 | 199,554 | |
07/01/2031 | 8.750% | 230,000 | 244,379 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CNX Resources Corp.(a) | ||||
01/15/2029 | 6.000% | 305,000 | 296,170 | |
Colgate Energy Partners III LLC(a) | ||||
07/01/2029 | 5.875% | 1,410,000 | 1,373,172 | |
Comstock Resources, Inc.(a) | ||||
03/01/2029 | 6.750% | 191,000 | 182,124 | |
03/01/2029 | 6.750% | 105,000 | 98,878 | |
01/15/2030 | 5.875% | 387,000 | 352,952 | |
CrownRock LP/Finance, Inc.(a) | ||||
10/15/2025 | 5.625% | 973,000 | 967,304 | |
05/01/2029 | 5.000% | 444,000 | 438,254 | |
Endeavor Energy Resources LP/Finance, Inc.(a) | ||||
01/30/2028 | 5.750% | 213,000 | 217,081 | |
Hilcorp Energy I LP/Finance Co.(a) | ||||
11/01/2028 | 6.250% | 22,000 | 21,671 | |
02/01/2029 | 5.750% | 221,000 | 212,893 | |
04/15/2030 | 6.000% | 300,000 | 287,648 | |
02/01/2031 | 6.000% | 282,000 | 270,102 | |
04/15/2032 | 6.250% | 334,000 | 323,441 | |
11/01/2033 | 8.375% | 306,000 | 328,368 | |
Matador Resources Co.(a) | ||||
04/15/2028 | 6.875% | 320,000 | 322,553 | |
04/15/2032 | 6.500% | 487,000 | 482,659 | |
Permian Resources Operating LLC(a) | ||||
01/15/2032 | 7.000% | 944,000 | 963,605 | |
Southwestern Energy Co. | ||||
02/01/2032 | 4.750% | 812,000 | 731,209 | |
Total | 9,818,588 | |||
Leisure 0.3% | ||||
Boyne USA, Inc.(a) | ||||
05/15/2029 | 4.750% | 140,000 | 127,445 | |
Carnival Corp.(a) | ||||
03/01/2026 | 7.625% | 602,000 | 605,660 | |
08/01/2028 | 4.000% | 623,000 | 568,650 | |
08/15/2029 | 7.000% | 183,000 | 187,791 | |
Carnival Holdings Bermuda Ltd.(a) | ||||
05/01/2028 | 10.375% | 461,000 | 499,775 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op(a) | ||||
05/01/2025 | 5.500% | 651,000 | 651,000 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op | ||||
04/15/2027 | 5.375% | 239,000 | 232,267 | |
10/01/2028 | 6.500% | 334,000 | 333,344 | |
Cinemark USA, Inc.(a) | ||||
05/01/2025 | 8.750% | 55,000 | 55,000 | |
03/15/2026 | 5.875% | 530,000 | 522,489 | |
07/15/2028 | 5.250% | 262,000 | 243,460 | |
Live Nation Entertainment, Inc.(a) | ||||
03/15/2026 | 5.625% | 345,000 | 338,864 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NCL Corp., Ltd.(a) | ||||
03/15/2026 | 5.875% | 407,000 | 398,613 | |
02/15/2029 | 7.750% | 104,000 | 106,371 | |
NCL Finance Ltd.(a) | ||||
03/15/2028 | 6.125% | 113,000 | 110,171 | |
Royal Caribbean Cruises Ltd.(a) | ||||
08/31/2026 | 5.500% | 657,000 | 644,660 | |
07/15/2027 | 5.375% | 266,000 | 258,828 | |
01/15/2030 | 7.250% | 675,000 | 695,091 | |
03/15/2032 | 6.250% | 183,000 | 180,299 | |
Six Flags Entertainment Corp.(a) | ||||
05/15/2031 | 7.250% | 471,000 | 469,997 | |
Six Flags Entertainment Corp./Theme Parks, Inc.(a),(h) | ||||
05/01/2032 | 6.625% | 557,000 | 554,744 | |
Six Flags Theme Parks, Inc.(a) | ||||
07/01/2025 | 7.000% | 31,000 | 31,029 | |
Vail Resorts, Inc.(a),(h) | ||||
05/15/2032 | 6.500% | 249,000 | 249,394 | |
Viking Cruises Ltd.(a) | ||||
02/15/2029 | 7.000% | 547,000 | 544,849 | |
07/15/2031 | 9.125% | 344,000 | 368,787 | |
Total | 8,978,578 | |||
Life Insurance 0.1% | ||||
Peachtree Corners Funding Trust(a) | ||||
02/15/2025 | 3.976% | 2,100,000 | 2,060,460 | |
Lodging 0.1% | ||||
Hilton Domestic Operating Co., Inc.(a) | ||||
05/01/2025 | 5.375% | 61,000 | 60,708 | |
05/01/2028 | 5.750% | 67,000 | 66,182 | |
02/15/2032 | 3.625% | 253,000 | 212,610 | |
04/01/2032 | 6.125% | 521,000 | 513,811 | |
Hilton Grand Vacations Borrower Escrow LLC(a) | ||||
01/15/2032 | 6.625% | 447,000 | 440,063 | |
Marriott Ownership Resorts, Inc.(a) | ||||
06/15/2029 | 4.500% | 188,000 | 168,964 | |
Wyndham Hotels & Resorts, Inc.(a) | ||||
08/15/2028 | 4.375% | 312,000 | 286,540 | |
Total | 1,748,878 | |||
Media and Entertainment 0.6% | ||||
Clear Channel Outdoor Holdings, Inc.(a) | ||||
04/15/2028 | 7.750% | 716,000 | 606,859 | |
09/15/2028 | 9.000% | 406,000 | 417,680 | |
06/01/2029 | 7.500% | 458,000 | 368,840 | |
04/01/2030 | 7.875% | 481,000 | 471,043 | |
Clear Channel Worldwide Holdings, Inc.(a) | ||||
08/15/2027 | 5.125% | 632,000 | 586,180 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
iHeartCommunications, Inc. | ||||
05/01/2026 | 6.375% | 772,634 | 652,840 | |
05/01/2027 | 8.375% | 633,486 | 336,207 | |
Netflix, Inc. | ||||
05/15/2029 | 4.625% | EUR | 1,696,000 | 1,883,580 |
Outfront Media Capital LLC/Corp.(a) | ||||
08/15/2027 | 5.000% | 972,000 | 926,311 | |
01/15/2029 | 4.250% | 139,000 | 123,719 | |
03/15/2030 | 4.625% | 764,000 | 674,949 | |
02/15/2031 | 7.375% | 156,000 | 160,127 | |
Playtika Holding Corp.(a) | ||||
03/15/2029 | 4.250% | 474,000 | 407,721 | |
Roblox Corp.(a) | ||||
05/01/2030 | 3.875% | 328,000 | 283,524 | |
Univision Communications, Inc.(a) | ||||
08/15/2028 | 8.000% | 601,000 | 601,424 | |
05/01/2029 | 4.500% | 243,000 | 210,912 | |
06/30/2030 | 7.375% | 214,000 | 205,109 | |
Warnermedia Holdings, Inc. | ||||
03/15/2062 | 5.391% | 9,599,000 | 7,348,120 | |
Total | 16,265,145 | |||
Metals and Mining 0.2% | ||||
Alcoa Nederland Holding BV(a) | ||||
03/15/2031 | 7.125% | 207,000 | 209,488 | |
Allegheny Technologies, Inc. | ||||
10/01/2029 | 4.875% | 108,000 | 100,551 | |
10/01/2031 | 5.125% | 633,000 | 578,796 | |
Constellium NV(a) | ||||
02/15/2026 | 5.875% | 614,000 | 608,945 | |
Constellium SE(a) | ||||
06/15/2028 | 5.625% | 988,000 | 953,512 | |
04/15/2029 | 3.750% | 887,000 | 787,034 | |
Hudbay Minerals, Inc.(a) | ||||
04/01/2026 | 4.500% | 906,000 | 877,196 | |
04/01/2029 | 6.125% | 441,000 | 432,535 | |
Kaiser Aluminum Corp.(a) | ||||
03/01/2028 | 4.625% | 83,000 | 77,340 | |
06/01/2031 | 4.500% | 507,000 | 444,145 | |
Novelis Corp.(a) | ||||
11/15/2026 | 3.250% | 256,000 | 239,352 | |
01/30/2030 | 4.750% | 554,000 | 504,762 | |
08/15/2031 | 3.875% | 309,000 | 261,772 | |
Total | 6,075,428 | |||
Midstream 1.0% | ||||
Antero Midstream Partners LP/Finance Corp.(a) | ||||
02/01/2032 | 6.625% | 352,000 | 350,580 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CNX Midstream Partners LP(a) | ||||
04/15/2030 | 4.750% | 370,000 | 326,961 | |
Delek Logistics Partners LP/Finance Corp.(a) | ||||
03/15/2029 | 8.625% | 945,000 | 951,940 | |
DT Midstream, Inc.(a) | ||||
06/15/2029 | 4.125% | 891,000 | 807,137 | |
06/15/2031 | 4.375% | 239,000 | 212,469 | |
Enbridge, Inc. | ||||
04/05/2027 | 5.250% | 4,086,000 | 4,054,927 | |
EQM Midstream Partners LP(a) | ||||
01/15/2029 | 4.500% | 220,000 | 203,520 | |
04/01/2029 | 6.375% | 231,000 | 229,246 | |
01/15/2031 | 4.750% | 1,099,000 | 1,004,902 | |
EQM Midstream Partners LP | ||||
07/15/2048 | 6.500% | 1,564,000 | 1,545,424 | |
Galaxy Pipeline Assets Bidco Ltd.(a) | ||||
09/30/2040 | 3.250% | 3,995,000 | 2,895,625 | |
Hess Midstream Operations LP(a) | ||||
02/15/2030 | 4.250% | 202,000 | 182,633 | |
ITT Holdings LLC(a) | ||||
08/01/2029 | 6.500% | 324,000 | 292,970 | |
Kinder Morgan Energy Partners LP | ||||
09/01/2044 | 5.400% | 3,960,000 | 3,537,383 | |
NuStar Logistics LP | ||||
10/01/2025 | 5.750% | 832,000 | 828,066 | |
06/01/2026 | 6.000% | 1,385,000 | 1,376,386 | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/15/2044 | 4.700% | 5,285,000 | 4,280,930 | |
Sunoco LP(a) | ||||
05/01/2029 | 7.000% | 417,000 | 423,448 | |
05/01/2032 | 7.250% | 393,000 | 399,142 | |
TransMontaigne Partners LP/TLP Finance Corp. | ||||
02/15/2026 | 6.125% | 715,000 | 684,425 | |
Venture Global Calcasieu Pass LLC(a) | ||||
08/15/2029 | 3.875% | 1,179,000 | 1,041,069 | |
08/15/2031 | 4.125% | 1,222,000 | 1,069,892 | |
11/01/2033 | 3.875% | 2,567,000 | 2,104,826 | |
Venture Global LNG, Inc.(a) | ||||
06/01/2028 | 8.125% | 249,000 | 254,722 | |
06/01/2031 | 8.375% | 762,000 | 782,248 | |
02/01/2032 | 9.875% | 292,000 | 311,437 | |
Total | 30,152,308 | |||
Natural Gas 0.2% | ||||
NiSource, Inc. | ||||
05/01/2030 | 3.600% | 3,737,000 | 3,366,958 | |
05/15/2047 | 4.375% | 2,457,000 | 1,941,330 | |
Total | 5,308,288 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Oil Field Services 0.1% | ||||
Kodiak Gas Services LLC(a) | ||||
02/15/2029 | 7.250% | 187,000 | 189,076 | |
Nabors Industries Ltd.(a) | ||||
01/15/2026 | 7.250% | 650,000 | 643,704 | |
Nabors Industries, Inc.(a) | ||||
05/15/2027 | 7.375% | 285,000 | 282,428 | |
01/31/2030 | 9.125% | 262,000 | 271,038 | |
Transocean Aquila Ltd.(a) | ||||
09/30/2028 | 8.000% | 531,000 | 540,077 | |
Transocean Titan Financing Ltd.(a) | ||||
02/01/2028 | 8.375% | 507,000 | 520,470 | |
Transocean, Inc.(a) | ||||
05/15/2029 | 8.250% | 150,000 | 149,073 | |
05/15/2031 | 8.500% | 368,000 | 366,056 | |
USA Compression Partners LP/Finance Corp.(a) | ||||
03/15/2029 | 7.125% | 535,000 | 531,243 | |
Total | 3,493,165 | |||
Other Industry 0.0% | ||||
Williams Scotsman International, Inc.(a) | ||||
08/15/2028 | 4.625% | 215,000 | 198,635 | |
Other REIT 0.2% | ||||
Digital Dutch Finco BV(a) | ||||
03/15/2030 | 1.500% | EUR | 1,680,000 | 1,546,726 |
Ladder Capital Finance Holdings LLLP/Corp.(a) | ||||
10/01/2025 | 5.250% | 331,000 | 325,214 | |
06/15/2029 | 4.750% | 2,141,000 | 1,908,873 | |
Park Intermediate Holdings LLC/Domestic Property/Finance Co-Issuer(a) | ||||
10/01/2028 | 5.875% | 256,000 | 247,580 | |
Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer(a) | ||||
05/15/2029 | 4.875% | 233,000 | 213,342 | |
RHP Hotel Properties LP/Finance Corp.(a) | ||||
07/15/2028 | 7.250% | 181,000 | 183,932 | |
02/15/2029 | 4.500% | 156,000 | 143,680 | |
04/01/2032 | 6.500% | 323,000 | 316,692 | |
RLJ Lodging Trust LP(a) | ||||
07/01/2026 | 3.750% | 219,000 | 206,388 | |
09/15/2029 | 4.000% | 241,000 | 208,889 | |
Service Properties Trust(a) | ||||
11/15/2031 | 8.625% | 309,000 | 326,170 | |
Total | 5,627,486 | |||
Packaging 0.1% | ||||
Ardagh Metal Packaging Finance USA LLC/PLC(a) | ||||
06/15/2027 | 6.000% | 479,000 | 464,778 | |
09/01/2029 | 4.000% | 1,304,000 | 1,075,899 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Canpack SA/US LLC(a) | ||||
11/15/2029 | 3.875% | 755,000 | 662,223 | |
Clydesdale Acquisition Holdings, Inc.(a) | ||||
04/15/2030 | 8.750% | 210,000 | 202,951 | |
Trivium Packaging Finance BV(a) | ||||
08/15/2026 | 5.500% | 540,000 | 530,436 | |
08/15/2027 | 8.500% | 373,000 | 369,526 | |
Total | 3,305,813 | |||
Pharmaceuticals 0.6% | ||||
1375209 BC Ltd.(a) | ||||
01/30/2028 | 9.000% | 123,000 | 120,704 | |
Amgen, Inc. | ||||
03/02/2063 | 5.750% | 3,618,000 | 3,452,354 | |
Bausch Health Companies, Inc.(a) | ||||
10/15/2030 | 14.000% | 43,000 | 27,729 | |
Grifols Escrow Issuer SA(a) | ||||
10/15/2028 | 4.750% | 1,286,000 | 1,034,019 | |
Organon Finance 1 LLC(a) | ||||
04/30/2028 | 4.125% | 354,000 | 322,527 | |
04/30/2031 | 5.125% | 777,000 | 672,039 | |
Pfizer Investment Enterprises Pte., Ltd. | ||||
05/19/2033 | 4.750% | 11,305,000 | 10,778,947 | |
Total | 16,408,319 | |||
Property & Casualty 0.3% | ||||
Alliant Holdings Intermediate LLC/Co-Issuer(a) | ||||
10/15/2027 | 4.250% | 472,000 | 440,363 | |
10/15/2027 | 6.750% | 547,000 | 536,938 | |
04/15/2028 | 6.750% | 849,000 | 848,383 | |
11/01/2029 | 5.875% | 819,000 | 754,135 | |
01/15/2031 | 7.000% | 776,000 | 778,869 | |
AmWINS Group, Inc.(a) | ||||
02/15/2029 | 6.375% | 385,000 | 380,697 | |
AssuredPartners, Inc.(a) | ||||
01/15/2029 | 5.625% | 670,000 | 610,968 | |
02/15/2032 | 7.500% | 536,000 | 522,184 | |
BroadStreet Partners, Inc.(a) | ||||
04/15/2029 | 5.875% | 584,000 | 532,406 | |
GTCR AP Finance, Inc.(a) | ||||
05/15/2027 | 8.000% | 186,000 | 186,052 | |
HUB International Ltd.(a) | ||||
12/01/2029 | 5.625% | 574,000 | 528,554 | |
01/31/2032 | 7.375% | 545,000 | 541,787 | |
HUB International, Ltd.(a) | ||||
06/15/2030 | 7.250% | 1,541,000 | 1,565,334 | |
Panther Escrow Issuer LLC(a) | ||||
06/01/2031 | 7.125% | 700,000 | 703,645 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
USI, Inc.(a) | ||||
01/15/2032 | 7.500% | 334,000 | 332,181 | |
Total | 9,262,496 | |||
Railroads 0.0% | ||||
Genesee & Wyoming, Inc.(a) | ||||
04/15/2032 | 6.250% | 488,000 | 484,899 | |
Refining 0.0% | ||||
HF Sinclair Corp.(a) | ||||
04/15/2027 | 6.375% | 146,000 | 146,057 | |
Restaurants 0.1% | ||||
1011778 BC ULC/New Red Finance, Inc.(a) | ||||
04/15/2025 | 5.750% | 755,000 | 752,437 | |
Fertitta Entertainment LLC/Finance Co., Inc.(a) | ||||
01/15/2030 | 6.750% | 636,000 | 553,983 | |
IRB Holding Corp.(a) | ||||
06/15/2025 | 7.000% | 1,015,000 | 1,015,542 | |
Yum! Brands, Inc. | ||||
03/15/2031 | 3.625% | 223,000 | 192,559 | |
04/01/2032 | 5.375% | 507,000 | 478,793 | |
Total | 2,993,314 | |||
Retailers 0.6% | ||||
Asbury Automotive Group, Inc.(a) | ||||
11/15/2029 | 4.625% | 131,000 | 118,686 | |
02/15/2032 | 5.000% | 905,000 | 804,371 | |
Group 1 Automotive, Inc.(a) | ||||
08/15/2028 | 4.000% | 153,000 | 139,366 | |
Hanesbrands, Inc.(a) | ||||
05/15/2026 | 4.875% | 285,000 | 275,646 | |
02/15/2031 | 9.000% | 273,000 | 271,549 | |
L Brands, Inc.(a) | ||||
07/01/2025 | 9.375% | 28,000 | 29,022 | |
10/01/2030 | 6.625% | 789,000 | 788,813 | |
L Brands, Inc. | ||||
06/15/2029 | 7.500% | 63,000 | 64,807 | |
LCM Investments Holdings II LLC(a) | ||||
05/01/2029 | 4.875% | 234,000 | 213,729 | |
08/01/2031 | 8.250% | 227,000 | 236,031 | |
Lithia Motors, Inc.(a) | ||||
01/15/2031 | 4.375% | 325,000 | 284,376 | |
Lowe’s Companies, Inc. | ||||
04/01/2062 | 4.450% | 5,509,000 | 4,214,099 | |
09/15/2062 | 5.800% | 8,127,000 | 7,789,643 | |
PetSmart, Inc./Finance Corp.(a) | ||||
02/15/2028 | 4.750% | 406,000 | 374,731 | |
02/15/2029 | 7.750% | 628,000 | 596,826 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Wolverine World Wide, Inc.(a) | ||||
08/15/2029 | 4.000% | 657,000 | 524,945 | |
Total | 16,726,640 | |||
Supermarkets 0.0% | ||||
Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC(a) | ||||
03/15/2026 | 7.500% | 76,000 | 77,152 | |
Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(a) | ||||
03/15/2026 | 3.250% | 569,000 | 540,096 | |
01/15/2027 | 4.625% | 688,000 | 657,300 | |
Total | 1,274,548 | |||
Technology 1.1% | ||||
Block, Inc. | ||||
06/01/2026 | 2.750% | 1,151,000 | 1,081,177 | |
06/01/2031 | 3.500% | 214,000 | 180,970 | |
Boxer Parent Co., Inc.(a) | ||||
10/02/2025 | 7.125% | 63,000 | 63,107 | |
Broadcom, Inc.(a) | ||||
11/15/2036 | 3.187% | 9,347,000 | 7,169,414 | |
Camelot Finance SA(a) | ||||
11/01/2026 | 4.500% | 657,000 | 625,967 | |
Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.(a) | ||||
06/15/2029 | 8.000% | 128,000 | 131,629 | |
Central Parent, Inc./CDK Global, Inc.(a) | ||||
06/15/2029 | 7.250% | 211,000 | 213,296 | |
Clarivate Science Holdings Corp.(a) | ||||
07/01/2028 | 3.875% | 252,000 | 229,519 | |
07/01/2029 | 4.875% | 911,000 | 829,881 | |
Cloud Software Group, Inc.(a) | ||||
09/30/2029 | 9.000% | 1,445,000 | 1,392,211 | |
Condor Merger Sub, Inc.(a) | ||||
02/15/2030 | 7.375% | 814,000 | 754,896 | |
Dun & Bradstreet Corp. (The)(a) | ||||
12/15/2029 | 5.000% | 182,000 | 165,666 | |
Entegris Escrow Corp.(a) | ||||
06/15/2030 | 5.950% | 1,139,000 | 1,109,371 | |
GoTo Group, Inc.(a) | ||||
05/01/2028 | 5.500% | 419,528 | 281,086 | |
05/01/2028 | 5.500% | 182,072 | 155,561 | |
GTCR W-2 Merger Sub LLC(a) | ||||
01/15/2031 | 7.500% | 1,021,000 | 1,053,047 | |
HealthEquity, Inc.(a) | ||||
10/01/2029 | 4.500% | 587,000 | 535,624 | |
Helios Software Holdings, Inc.(a) | ||||
05/01/2028 | 4.625% | 749,000 | 659,649 | |
Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl(a),(h) | ||||
05/01/2029 | 8.750% | 415,000 | 415,655 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
ION Trading Technologies Sarl(a) | ||||
05/15/2028 | 5.750% | 730,000 | 666,720 | |
Iron Mountain, Inc.(a) | ||||
09/15/2027 | 4.875% | 555,000 | 529,463 | |
07/15/2028 | 5.000% | 140,000 | 131,811 | |
09/15/2029 | 4.875% | 42,000 | 38,795 | |
07/15/2030 | 5.250% | 517,000 | 480,232 | |
Minerva Merger Sub, Inc.(a) | ||||
02/15/2030 | 6.500% | 820,000 | 738,685 | |
NCR Atleos Escrow Corp.(a) | ||||
04/01/2029 | 9.500% | 705,000 | 749,315 | |
NCR Corp.(a) | ||||
10/01/2028 | 5.000% | 516,000 | 474,885 | |
04/15/2029 | 5.125% | 679,000 | 623,993 | |
10/01/2030 | 5.250% | 235,000 | 209,249 | |
Neptune Bidco US, Inc.(a) | ||||
04/15/2029 | 9.290% | 909,000 | 858,048 | |
NXP BV/Funding LLC/USA, Inc. | ||||
05/01/2030 | 3.400% | 1,090,000 | 967,527 | |
01/15/2033 | 5.000% | 3,969,000 | 3,762,956 | |
Picard Midco, Inc.(a) | ||||
03/31/2029 | 6.500% | 1,144,000 | 1,084,881 | |
PTC, Inc.(a) | ||||
02/15/2025 | 3.625% | 149,000 | 146,234 | |
Sabre GLBL, Inc.(a) | ||||
06/01/2027 | 8.625% | 9,000 | 7,954 | |
Seagate HDD Cayman(a) | ||||
12/15/2029 | 8.250% | 336,000 | 355,864 | |
Shift4 Payments LLC/Finance Sub, Inc.(a) | ||||
11/01/2026 | 4.625% | 606,000 | 583,423 | |
UKG, Inc.(a) | ||||
02/01/2031 | 6.875% | 858,000 | 859,559 | |
Verscend Escrow Corp.(a) | ||||
08/15/2026 | 9.750% | 497,000 | 497,000 | |
ZoomInfo Technologies LLC/Finance Corp.(a) | ||||
02/01/2029 | 3.875% | 951,000 | 840,338 | |
Total | 31,654,658 | |||
Transportation Services 0.3% | ||||
Avis Budget Car Rental LLC/Finance, Inc.(a) | ||||
02/15/2031 | 8.000% | 517,000 | 494,938 | |
ERAC USA Finance LLC(a) | ||||
05/01/2028 | 4.600% | 7,614,000 | 7,400,104 | |
Total | 7,895,042 | |||
Wireless 0.7% | ||||
Altice France Holding SA(a) | ||||
02/15/2028 | 6.000% | 559,000 | 164,167 |
Corporate Bonds & Notes(g) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Altice France SA(a) | ||||
01/15/2028 | 5.500% | 303,000 | 204,363 | |
07/15/2029 | 5.125% | 695,000 | 454,124 | |
10/15/2029 | 5.500% | 681,000 | 445,903 | |
SBA Communications Corp. | ||||
02/01/2029 | 3.125% | 576,000 | 501,629 | |
Sprint Corp. | ||||
06/15/2024 | 7.125% | 669,000 | 669,713 | |
02/15/2025 | 7.625% | 741,000 | 747,435 | |
T-Mobile US, Inc. | ||||
02/15/2031 | 2.875% | 18,247,000 | 15,481,090 | |
Vmed O2 UK Financing I PLC(a) | ||||
01/31/2031 | 4.250% | 730,000 | 598,467 | |
07/15/2031 | 4.750% | 600,000 | 501,226 | |
04/15/2032 | 7.750% | 450,000 | 443,274 | |
Total | 20,211,391 | |||
Wirelines 0.2% | ||||
Frontier Communications Holdings LLC(a) | ||||
05/15/2030 | 8.750% | 599,000 | 610,007 | |
03/15/2031 | 8.625% | 576,000 | 581,738 | |
Iliad Holding SAS(a) | ||||
10/15/2026 | 6.500% | 1,064,000 | 1,058,673 | |
10/15/2028 | 7.000% | 1,654,000 | 1,617,634 | |
Iliad Holding SASU(a),(h) | ||||
04/15/2031 | 8.500% | 250,000 | 250,175 | |
Verizon Communications, Inc. | ||||
03/21/2031 | 2.550% | 1,050,000 | 871,518 | |
Total | 4,989,745 | |||
Total Corporate Bonds & Notes (Cost $704,406,802) | 638,456,103 | |||
Foreign Government Obligations(l) 1.8% | ||||
Canada 0.1% | ||||
NOVA Chemicals Corp.(a) | ||||
05/01/2025 | 5.000% | 221,000 | 217,210 | |
06/01/2027 | 5.250% | 445,000 | 419,694 | |
11/15/2028 | 8.500% | 197,000 | 206,896 | |
05/15/2029 | 4.250% | 441,000 | 371,598 | |
02/15/2030 | 9.000% | 729,000 | 750,859 | |
Total | 1,966,257 | |||
Colombia 0.3% | ||||
Colombia Government International Bond | ||||
04/15/2031 | 3.125% | 3,793,000 | 2,927,290 | |
04/22/2032 | 3.250% | 2,860,000 | 2,145,909 | |
05/15/2049 | 5.200% | 4,442,000 | 3,060,942 | |
Total | 8,134,141 |
Foreign Government Obligations(l) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Dominican Republic 0.0% | ||||
Dominican Republic International Bond(a) | ||||
01/25/2027 | 5.950% | 785,000 | 771,420 | |
Egypt 0.1% | ||||
Egypt Government International Bond(a) | ||||
02/16/2031 | 5.875% | 4,255,000 | 3,322,002 | |
India 0.1% | ||||
Export-Import Bank of India(a) | ||||
01/15/2030 | 3.250% | 2,250,000 | 1,978,649 | |
Indonesia 0.1% | ||||
Indonesia Asahan Aluminium PT/Mineral Industri Persero(a) | ||||
05/15/2030 | 5.450% | 2,150,000 | 2,074,065 | |
Ivory Coast 0.1% | ||||
Ivory Coast Government International Bond(a) | ||||
06/15/2033 | 6.125% | 2,801,000 | 2,427,888 | |
Mexico 0.4% | ||||
Petroleos Mexicanos | ||||
03/13/2027 | 6.500% | 3,251,000 | 3,042,674 | |
09/21/2047 | 6.750% | 4,198,000 | 2,679,173 | |
01/23/2050 | 7.690% | 2,000,000 | 1,394,939 | |
01/28/2060 | 6.950% | 6,830,000 | 4,344,827 | |
Total | 11,461,613 | |||
Paraguay 0.1% | ||||
Paraguay Government International Bond(a) | ||||
08/11/2044 | 6.100% | 2,465,000 | 2,273,572 | |
Qatar 0.2% | ||||
Qatar Government International Bond(a) | ||||
03/14/2049 | 4.817% | 2,400,000 | 2,121,554 | |
Qatar Petroleum(a) | ||||
07/12/2031 | 2.250% | 5,762,000 | 4,678,208 | |
Total | 6,799,762 | |||
Russian Federation 0.0% | ||||
Gazprom OAO Via Gaz Capital SA(a) | ||||
02/06/2028 | 4.950% | 1,320,000 | 854,956 | |
Saudi Arabia 0.1% | ||||
Saudi Government International Bond(a) | ||||
04/17/2049 | 5.000% | 2,550,000 | 2,201,503 | |
South Africa 0.0% | ||||
Republic of South Africa Government International Bond | ||||
09/30/2049 | 5.750% | 1,994,000 | 1,408,895 |
Foreign Government Obligations(l) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United Arab Emirates 0.2% | ||||
DP World Ltd.(a) | ||||
09/25/2048 | 5.625% | 3,620,000 | 3,313,362 | |
DP World PLC(a) | ||||
07/02/2037 | 6.850% | 3,540,000 | 3,722,601 | |
Total | 7,035,963 | |||
Total Foreign Government Obligations (Cost $65,406,647) | 52,710,686 | |||
Inflation-Indexed Bonds 0.3% | ||||
United States 0.3% | ||||
U.S. Treasury Inflation-Indexed Bond | ||||
10/15/2028 | 2.375% | 7,482,187 | 7,525,151 | |
Total Inflation-Indexed Bonds (Cost $7,675,245) | 7,525,151 | |||
Residential Mortgage-Backed Securities - Agency 38.8% | ||||
Fannie Mae REMICS(b),(m) | ||||
CMO Series 2023-46 Class SC | ||||
30-day Average SOFR + 5.886% Cap 6.000% 06/25/2050 | 0.556% | 36,963,555 | 3,154,252 | |
CMO Series 2023-57 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 02/25/2050 | 0.556% | 43,339,719 | 3,853,135 | |
CMO Series 2023-65 Class S | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 03/25/2050 | 0.556% | 19,157,586 | 1,481,247 | |
Federal Home Loan Mortgage Corp. | ||||
04/01/2026 | 4.000% | 26,714 | 26,252 | |
12/01/2046- 08/01/2052 | 3.500% | 74,754,743 | 64,658,716 | |
12/01/2051 | 2.500% | 19,301,912 | 15,514,738 | |
02/01/2052- 05/01/2052 | 3.000% | 66,896,432 | 55,511,218 | |
03/01/2052 | 2.000% | 27,131,850 | 20,525,626 | |
09/01/2052- 10/01/2053 | 5.000% | 44,213,385 | 42,545,985 | |
02/01/2053- 05/01/2053 | 4.500% | 61,028,552 | 56,478,172 | |
09/01/2053- 12/01/2053 | 5.500% | 43,762,564 | 42,871,903 | |
12/01/2053 | 6.000% | 24,338,058 | 24,386,672 | |
Federal Home Loan Mortgage Corp.(n) | ||||
09/01/2049 | 3.000% | 4,301,068 | 3,603,778 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Federal Home Loan Mortgage Corp.(b),(m) | ||||
CMO Series 3922 Class SH | ||||
-1.0 x 30-day Average SOFR + 5.786% Cap 5.900% 09/15/2041 | 0.456% | 175,807 | 10,744 | |
CMO Series 4097 Class ST | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 08/15/2042 | 0.606% | 562,859 | 47,516 | |
CMO Series 4620 Class AS | ||||
-1.0 x 30-day Average SOFR + 0.554% 11/15/2042 | 0.105% | 537,404 | 35,468 | |
CMO Series 4903 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 08/25/2049 | 0.606% | 9,543,574 | 831,476 | |
CMO Series 4979 Class KS | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 06/25/2048 | 0.606% | 4,708,096 | 458,543 | |
CMO STRIPS Series 2012-278 Class S1 | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 09/15/2042 | 0.606% | 718,289 | 47,812 | |
CMO STRIPS Series 309 Class S4 | ||||
-1.0 x 30-day Average SOFR + 5.856% Cap 5.970% 08/15/2043 | 0.526% | 349,822 | 25,397 | |
Federal Home Loan Mortgage Corp.(m) | ||||
CMO Series 4176 Class BI | ||||
03/15/2043 | 3.500% | 639,770 | 81,657 | |
Federal Home Loan Mortgage Corp. REMICS(b),(m) | ||||
CMO Series 4703 Class SA | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 07/15/2047 | 0.706% | 18,498,859 | 1,885,763 | |
CMO Series 4920 Class SA | ||||
-1.0 x 30-day Average SOFR + 6.164% Cap 6.050% 10/15/2049 | 0.606% | 34,090,545 | 3,118,521 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 5345 Class SE | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 01/15/2048 | 0.556% | 28,324,732 | 2,296,799 | |
Federal Home Loan Mortgage Corp. REMICS(m) | ||||
CMO Series 5034 Class GI | ||||
11/25/2050 | 2.500% | 18,120,999 | 2,801,885 | |
CMO Series 5078 Class TI | ||||
02/25/2051 | 2.500% | 23,370,389 | 3,713,284 | |
CMO Series 5187 Class IK | ||||
01/25/2052 | 3.000% | 21,768,637 | 3,987,540 | |
Federal National Mortgage Association(b) | ||||
6-month Term SOFR + 1.415% Floor 1.415%, Cap 11.040% 06/01/2032 | 5.665% | 2,195 | 2,173 | |
1-year CMT + 2.305% Floor 2.305%, Cap 10.430% 07/01/2037 | 6.055% | 45,242 | 45,254 | |
Federal National Mortgage Association(n) | ||||
08/01/2043- 02/01/2048 | 4.000% | 8,490,191 | 7,828,371 | |
04/01/2049- 11/01/2051 | 3.000% | 32,226,649 | 27,059,043 | |
Federal National Mortgage Association | ||||
01/01/2052- 04/01/2052 | 2.500% | 47,354,201 | 37,627,813 | |
01/01/2052- 04/01/2052 | 3.000% | 38,345,678 | 31,920,075 | |
04/01/2052- 07/01/2052 | 4.000% | 61,531,949 | 55,589,712 | |
05/01/2052- 09/01/2052 | 3.500% | 104,144,550 | 90,331,629 | |
09/01/2052- 09/01/2053 | 5.000% | 35,521,962 | 34,121,564 | |
10/01/2053 | 5.500% | 21,378,420 | 20,943,337 | |
CMO Series 2017-72 Class B | ||||
09/25/2047 | 3.000% | 4,488,236 | 3,951,455 | |
Federal National Mortgage Association(b),(m) | ||||
CMO Series 2013-101 Class CS | ||||
-1.0 x 30-day Average SOFR + 5.786% Cap 5.900% 10/25/2043 | 0.456% | 1,812,608 | 134,936 | |
CMO Series 2014-93 Class ES | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 01/25/2045 | 0.706% | 1,070,935 | 105,344 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2016-31 Class VS | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 06/25/2046 | 0.556% | 784,206 | 71,081 | |
CMO Series 2016-53 Class KS | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 08/25/2046 | 0.556% | 3,569,802 | 321,039 | |
CMO Series 2016-57 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.886% Cap 6.000% 08/25/2046 | 0.556% | 7,764,476 | 741,009 | |
CMO Series 2017-109 Class SA | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 01/25/2048 | 0.706% | 3,844,271 | 429,386 | |
CMO Series 2017-20 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.986% Cap 6.100% 04/25/2047 | 0.656% | 3,422,957 | 334,554 | |
CMO Series 2017-54 Class NS | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 07/25/2047 | 0.706% | 3,088,047 | 258,371 | |
CMO Series 2017-54 Class SN | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 07/25/2047 | 0.706% | 6,269,630 | 683,815 | |
CMO Series 2018-66 Class SM | ||||
-1.0 x 30-day Average SOFR + 6.086% Cap 6.200% 09/25/2048 | 0.756% | 4,208,948 | 409,652 | |
CMO Series 2018-67 MS Class MS | ||||
-1.0 x 30-day Average SOFR + 6.086% Cap 6.200% 09/25/2048 | 0.756% | 3,205,509 | 343,525 | |
CMO Series 2018-74 Class SA | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 10/25/2048 | 0.706% | 5,795,017 | 535,793 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2019-33 Class SB | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 07/25/2049 | 0.606% | 13,887,853 | 1,227,217 | |
CMO Series 2019-42 Class SA | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 08/25/2049 | 0.606% | 24,767,704 | 2,175,134 | |
CMO Series 2019-60 Class SH | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 10/25/2049 | 0.606% | 8,836,975 | 822,603 | |
CMO Series 2019-67 Class SE | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 11/25/2049 | 0.606% | 7,630,066 | 870,224 | |
Federal National Mortgage Association REMICS(b),(m) | ||||
CMO Series 2013-26 Class SE | ||||
-1.0 x 30-day Average SOFR + 6.036% Cap 6.150% 04/25/2043 | 0.706% | 16,198,676 | 1,569,692 | |
Freddie Mac REMICS(m) | ||||
CMO Series 5152 Class XI | ||||
11/25/2050 | 2.500% | 38,337,446 | 4,606,175 | |
CMO Series 5287 Class NI | ||||
05/25/2051 | 3.500% | 20,005,408 | 3,733,887 | |
Freddie Mac REMICS(b),(m) | ||||
CMO Series 5326 Class SE | ||||
-1.0 x 30-day Average SOFR + 5.950% Cap 5.950% 08/25/2053 | 0.620% | 21,250,251 | 1,075,541 | |
CMO Series 5362 Class S | ||||
-1.0 x 30-day Average SOFR + 5.936% Cap 6.050% 05/15/2049 | 0.606% | 24,207,439 | 2,027,383 | |
Government National Mortgage Association(b) | ||||
1-year CMT + 1.500% Floor 1.500%, Cap 11.500% 07/20/2025 | 3.625% | 1,234 | 1,224 | |
Government National Mortgage Association(n) | ||||
04/20/2048 | 4.500% | 3,227,036 | 3,049,660 | |
Government National Mortgage Association(m) | ||||
CMO Series 2014-184 Class CI | ||||
11/16/2041 | 3.500% | 3,124,157 | 349,770 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-175 Class KI | ||||
11/20/2050 | 2.500% | 22,504,401 | 3,035,796 | |
CMO Series 2020-189 Class HI | ||||
12/20/2050 | 3.000% | 28,169,611 | 4,458,872 | |
CMO Series 2020-191 Class UG | ||||
12/20/2050 | 3.500% | 14,737,024 | 2,560,870 | |
CMO Series 2021-119 Class QI | ||||
07/20/2051 | 3.000% | 20,156,363 | 3,185,004 | |
CMO Series 2021-140 Class IJ | ||||
08/20/2051 | 3.000% | 34,398,708 | 5,757,993 | |
CMO Series 2021-16 Class KI | ||||
01/20/2051 | 2.500% | 20,232,659 | 2,729,681 | |
CMO Series 2021-89 Class IO | ||||
05/20/2051 | 3.000% | 21,788,430 | 3,460,702 | |
CMO Series 2021-97 Class IQ | ||||
06/20/2051 | 2.500% | 12,978,571 | 1,601,928 | |
Government National Mortgage Association(b),(m) | ||||
CMO Series 2016-120 Class NS | ||||
-1.0 x 1-month Term SOFR + 5.986% Cap 6.100% 09/20/2046 | 0.670% | 21,406,894 | 2,027,072 | |
CMO Series 2017-130 Class GS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2047 | 0.770% | 9,049,064 | 1,153,790 | |
CMO Series 2017-130 Class HS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2047 | 0.770% | 4,157,263 | 327,419 | |
CMO Series 2017-134 Class SD | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 09/20/2047 | 0.770% | 15,821,971 | 1,611,620 | |
CMO Series 2017-149 Class BS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 10/20/2047 | 0.770% | 5,236,661 | 488,833 | |
CMO Series 2017-153 Class SE | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 10/20/2047 | 0.770% | 20,191,809 | 1,788,675 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2017-163 Class SA | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 11/20/2047 | 0.770% | 2,130,632 | 186,113 | |
CMO Series 2017-37 Class SB | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 03/20/2047 | 0.720% | 3,138,651 | 292,101 | |
CMO Series 2018-103 Class SA | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2048 | 0.770% | 2,945,491 | 268,745 | |
CMO Series 2018-112 Class LS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2048 | 0.770% | 3,716,324 | 333,111 | |
CMO Series 2018-125 Class SK | ||||
-1.0 x 1-month Term SOFR + 6.136% Cap 6.250% 09/20/2048 | 0.820% | 4,819,494 | 331,182 | |
CMO Series 2018-134 Class KS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 10/20/2048 | 0.770% | 3,847,579 | 332,329 | |
CMO Series 2018-139 Class SC | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 10/20/2048 | 0.720% | 2,689,292 | 227,150 | |
CMO Series 2018-148 Class HS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 11/20/2045 | 0.770% | 22,370,708 | 2,181,155 | |
CMO Series 2018-148 Class SB | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 01/20/2048 | 0.770% | 7,477,585 | 714,992 | |
CMO Series 2018-151 Class SA | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 11/20/2048 | 0.720% | 6,291,489 | 554,709 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2018-89 Class MS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 06/20/2048 | 0.770% | 3,820,712 | 311,289 | |
CMO Series 2018-89 Class SM | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 06/20/2048 | 0.770% | 5,054,975 | 354,952 | |
CMO Series 2018-91 Class DS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 07/20/2048 | 0.770% | 3,696,085 | 314,611 | |
CMO Series 2019-20 Class JS | ||||
-1.0 x 1-month Term SOFR + 5.886% Cap 6.000% 02/20/2049 | 0.570% | 5,971,448 | 502,757 | |
CMO Series 2019-5 Class SH | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 01/20/2049 | 0.720% | 4,360,103 | 373,431 | |
CMO Series 2019-56 Class SG | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 05/20/2049 | 0.720% | 4,701,494 | 416,608 | |
CMO Series 2019-59 Class KS | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 05/20/2049 | 0.620% | 4,621,175 | 406,669 | |
CMO Series 2019-6 Class SD | ||||
-1.0 x 1-month Term SOFR + 5.986% Cap 6.100% 01/20/2049 | 0.670% | 19,474,926 | 1,688,443 | |
CMO Series 2019-85 Class SC | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 07/20/2049 | 0.720% | 4,213,218 | 364,184 | |
CMO Series 2019-90 Class SD | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 07/20/2049 | 0.720% | 6,743,167 | 655,330 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-21 Class VS | ||||
-1.0 x 1-month Term SOFR + 6.164% Cap 6.050% 02/20/2050 | 0.620% | 3,167,744 | 294,249 | |
CMO Series 2020-61 Class SW | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 08/20/2049 | 0.620% | 24,877,414 | 2,098,405 | |
CMO Series 2020-62 Class SG | ||||
-1.0 x 1-month Term SOFR + 6.036% Cap 6.150% 05/20/2050 | 0.720% | 5,662,571 | 502,198 | |
CMO Series 2021-116 Class YS | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 09/20/2050 | 0.770% | 24,423,379 | 2,626,617 | |
CMO Series 2022-18 Class SL | ||||
-1.0 x 30-day Average SOFR + 6.300% Cap 6.300% 01/20/2052 | 0.970% | 22,264,063 | 2,538,758 | |
CMO Series 2022-207 Class SC | ||||
-1.0 x 1-month Term SOFR + 5.986% Cap 6.100% 01/20/2050 | 0.670% | 39,189,339 | 3,387,276 | |
CMO Series 2022-63 Class GS | ||||
-1.0 x 30-day Average SOFR + 5.500% Cap 5.500% 04/20/2052 | 0.170% | 29,014,103 | 2,468,328 | |
CMO Series 2022-81 Class SK | ||||
-1.0 x 1-month Term SOFR + 6.086% Cap 6.200% 08/20/2047 | 0.770% | 20,786,927 | 2,111,422 | |
CMO Series 2023-101 Class SE | ||||
-1.0 x 30-day Average SOFR + 6.000% Cap 6.000% 07/20/2053 | 0.670% | 31,639,054 | 995,665 | |
CMO Series 2023-132 Class SB | ||||
-1.0 x 30-day Average SOFR + 6.500% Cap 6.500% 09/20/2053 | 1.170% | 52,792,764 | 3,292,357 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2023-141 Class SN | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 04/20/2049 | 0.620% | 37,285,750 | 3,309,748 | |
CMO Series 2023-17 Class SY | ||||
-1.0 x 1-month Term SOFR + 5.936% Cap 6.050% 05/20/2050 | 0.620% | 37,825,452 | 3,258,837 | |
CMO Series 2023-66 Class AS | ||||
-1.0 x 1-month Term SOFR + 5.986% Cap 6.100% 09/20/2049 | 0.670% | 32,604,482 | 2,887,277 | |
CMO Series 2024-30 Class XH | ||||
-1.0 x 30-day Average SOFR + 5.850% Cap 5.850% 02/20/2054 | 0.520% | 34,705,123 | 2,500,692 | |
Government National Mortgage Association TBA(h) | ||||
05/20/2054 | 4.000% | 96,000,000 | 86,987,688 | |
05/20/2054 | 4.500% | 50,000,000 | 46,561,997 | |
05/20/2054 | 5.000% | 75,000,000 | 71,788,896 | |
Uniform Mortgage-Backed Security TBA(h) | ||||
05/15/2039 | 3.000% | 32,000,000 | 29,027,214 | |
05/13/2054 | 4.000% | 18,000,000 | 16,097,848 | |
05/13/2054 | 5.000% | 15,000,000 | 14,212,615 | |
05/13/2054 | 5.500% | 53,000,000 | 51,439,200 | |
05/13/2054 | 6.000% | 31,000,000 | 30,711,800 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $1,200,646,309) | 1,113,348,743 | |||
Residential Mortgage-Backed Securities - Non-Agency 18.8% | ||||
510 Asset Backed Trust(a),(e) | ||||
CMO Series 2021-NPL2 Class A1 | ||||
06/25/2061 | 2.116% | 4,821,662 | 4,685,895 | |
Angel Oak Mortgage Trust I LLC(a),(e) | ||||
CMO Series 2018-3 Class M1 | ||||
09/25/2048 | 4.421% | 1,987,190 | 1,958,995 | |
BRAVO Residential Funding Trust(a),(e) | ||||
CMO Series 2021-A Class A1 | ||||
10/25/2059 | 4.991% | 6,102,290 | 5,931,384 | |
BVRT Financing Trust(a),(b),(d) | ||||
CMO Series 2021-3F Class M2 | ||||
30-day Average SOFR + 2.900% Floor 2.900% 07/12/2033 | 4.187% | 12,531,508 | 12,531,508 | |
CAFL Issuer LLC(a),(e) | ||||
CMO Series 2021-RTL1 Class A1 | ||||
03/28/2029 | 2.239% | 5,510,173 | 5,302,755 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CHNGE Mortgage Trust(a),(e) | ||||
CMO Series 2022-1 Class M1 | ||||
01/25/2067 | 3.990% | 4,000,000 | 3,251,094 | |
CMO Series 2022-3 Class A1 | ||||
05/25/2067 | 5.000% | 12,477,696 | 12,043,371 | |
CMO Series 2022-5 Class A1 | ||||
01/25/2058 | 6.000% | 6,367,725 | 6,257,170 | |
CMO Series 2023-3 Class A1 | ||||
07/25/2058 | 7.100% | 13,675,976 | 13,665,737 | |
Citigroup Mortgage Loan Trust, Inc.(a) | ||||
Subordinated CMO Series 2014-C Class B1 | ||||
02/25/2054 | 4.250% | 2,301,222 | 2,241,220 | |
COLT Mortgage Loan Trust(a),(e) | ||||
CMO Series 2021-3 Class A1 | ||||
09/27/2066 | 0.956% | 6,821,154 | 5,188,075 | |
CMO Series 2021-5 Class A3 | ||||
11/26/2066 | 2.807% | 6,400,000 | 4,263,892 | |
CMO Series 2021-6 Class A3 | ||||
12/25/2066 | 3.006% | 8,426,000 | 5,841,024 | |
Connecticut Avenue Securities Trust(a),(b) | ||||
CMO Series 2019-HRP1 Class M2 | ||||
30-day Average SOFR + 2.264% 11/25/2039 | 7.595% | 2,070,525 | 2,085,509 | |
CMO Series 2022-R01 Class 1M2 | ||||
30-day Average SOFR + 1.900% 12/25/2041 | 7.230% | 15,000,000 | 15,147,431 | |
Credit Suisse Mortgage Trust(a),(e) | ||||
CMO Series 2021-NQM1 Class A3 | ||||
05/25/2065 | 1.199% | 1,456,959 | 1,226,592 | |
CSMC Trust(a),(e) | ||||
CMO Series 2020-RPL2 Class A12 | ||||
02/25/2060 | 3.561% | 12,341,200 | 12,491,689 | |
CMO Series 2022-RPL3 Class A1 | ||||
03/25/2061 | 3.613% | 10,959,111 | 10,877,430 | |
Deephaven Residential Mortgage Trust(a),(e) | ||||
CMO Series 2020-2 Class M1 | ||||
05/25/2065 | 4.112% | 7,190,000 | 6,851,409 | |
CMO Series 2021-4 Class A1 | ||||
11/25/2066 | 1.931% | 5,830,299 | 4,771,391 | |
CMO Series 2021-4 Class A3 | ||||
11/25/2066 | 2.239% | 6,048,935 | 4,926,920 | |
Ellington Financial Mortgage Trust(a),(e) | ||||
CMO Series 2019-2 Class M1 | ||||
11/25/2059 | 3.469% | 2,500,000 | 2,174,439 | |
FIGRE Trust(a),(e) | ||||
CMO Series 2023-HE3 Class B | ||||
01/25/2042 | 7.507% | 3,256,591 | 3,287,907 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
FMC GMSR Issuer Trust(a),(e) | ||||
CMO Series 2020-GT1 Class A | ||||
01/25/2026 | 4.450% | 10,500,000 | 9,608,524 | |
Freddie Mac STACR(b) | ||||
CMO Series 2020-CS02 Class M4 | ||||
30-day Average SOFR + 0.000% 06/25/2033 | 4.617% | 4,060,040 | 3,933,845 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
CMO Series 2021-DNA5 Class M2 | ||||
30-day Average SOFR + 1.650% 01/25/2034 | 6.980% | 2,615,496 | 2,630,391 | |
CMO Series 2021-HQA1 Class M2 | ||||
30-day Average SOFR + 2.250% 08/25/2033 | 7.580% | 10,417,086 | 10,669,917 | |
CMO Series 2022-DNA1 Class M1B | ||||
30-day Average SOFR + 1.850% 01/25/2042 | 7.180% | 7,900,000 | 7,964,447 | |
CMO Series 2022-HQA1 Class M2 | ||||
30-day Average SOFR + 5.250% 03/25/2042 | 10.580% | 16,582,000 | 17,951,421 | |
CMO Series 2023-HQA1 Class M1B | ||||
30-day Average SOFR + 3.500% 05/25/2043 | 8.830% | 6,000,000 | 6,321,759 | |
Subordinated CMO Series 2021-HQA1 Class B2 | ||||
30-day Average SOFR + 5.000% 08/25/2033 | 10.330% | 9,400,000 | 9,989,479 | |
Freddie Mac Structured Agency Credit Risk Debt Notes(a),(b) | ||||
CMO Series 2019-CS03 Class M2 | ||||
30-day Average SOFR + 0.114% 10/25/2032 | 5.445% | 437,096 | 435,336 | |
GCAT LLC(a),(e) | ||||
CMO Series 2021-CM1 Class A1 | ||||
04/25/2065 | 1.469% | 6,092,184 | 5,567,520 | |
GCAT Trust(a),(e) | ||||
CMO Series 2021-NQM6 Class A2 | ||||
08/25/2066 | 2.710% | 4,100,000 | 3,085,829 | |
CMO Series 2021-NQM6 Class A3 | ||||
08/25/2066 | 2.810% | 7,500,000 | 5,300,471 | |
CMO Series 2021-NQM7 Class A3 | ||||
08/25/2066 | 2.891% | 10,000,000 | 7,257,003 | |
Genworth Mortgage Insurance Corp.(a),(b) | ||||
CMO Series 2021-3 Class M1B | ||||
30-day Average SOFR + 2.900% Floor 2.900% 02/25/2034 | 8.230% | 18,000,000 | 18,158,080 | |
Imperial Fund Mortgage Trust(a),(e) | ||||
CMO Series 2021-NQM4 Class A2 | ||||
01/25/2057 | 2.296% | 3,329,286 | 2,725,390 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Legacy Mortgage Asset Trust(a),(e) | ||||
CMO Series 2021-GS1 Class A1 | ||||
10/25/2066 | 4.892% | 5,011,739 | 4,849,019 | |
CMO Series 2021-GS2 Class A1 | ||||
04/25/2061 | 1.750% | 3,968,451 | 3,833,049 | |
CMO Series 2021-SL2 Class A | ||||
10/25/2068 | 1.875% | 6,272,906 | 6,031,229 | |
MFA Trust(a),(e) | ||||
CMO Series 2020-NQM1 Class M1 | ||||
08/25/2049 | 3.071% | 2,800,000 | 2,462,911 | |
CMO Series 2020-NQM2 Class M1 | ||||
04/25/2065 | 3.034% | 12,854,000 | 10,599,014 | |
Mill City Mortgage Loan Trust(a),(e) | ||||
CMO Series 2023-NQM1 Class A1 | ||||
10/25/2067 | 6.050% | 4,285,397 | 4,231,785 | |
New Residential Mortgage Loan Trust(a),(e) | ||||
Subordinated CMO Series 2020-RPL1 Class B4 | ||||
11/25/2059 | 3.873% | 10,000,000 | 6,026,568 | |
NRZ Excess Spread-Collateralized Notes(a) | ||||
Series 2020-PLS1 Class A | ||||
12/25/2025 | 3.844% | 1,980,910 | 1,901,178 | |
Oaktown Re VI Ltd.(a),(b) | ||||
CMO Series 2021-1A Class M1B | ||||
30-day Average SOFR + 2.050% Floor 2.050% 10/25/2033 | 7.380% | 1,351,219 | 1,353,564 | |
PMT Credit Risk Transfer Trust(a),(b) | ||||
Series 2019-2R Class A | ||||
1-month Term SOFR + 3.864% Floor 3.750% 05/30/2025 | 9.183% | 2,056,356 | 2,060,480 | |
Point Securitization Trust(a),(e) | ||||
CMO Series 2021-1 Class A1 | ||||
02/25/2052 | 3.228% | 8,101,106 | 7,754,275 | |
Preston Ridge Partners Mortgage Trust(a),(e) | ||||
CMO Series 2021-2 Class A1 | ||||
03/25/2026 | 2.115% | 3,405,130 | 3,342,428 | |
CMO Series 2021-3 Class A1 | ||||
04/25/2026 | 1.867% | 8,783,980 | 8,518,130 | |
CMO Series 2021-7 Class A1 | ||||
08/25/2026 | 1.867% | 5,026,816 | 4,835,093 | |
CMO Series 2021-8 Class A1 | ||||
09/25/2026 | 1.743% | 4,146,759 | 3,965,724 | |
PRET LLC(a),(e) | ||||
CMO Series 2024-NPL1 Class A1 | ||||
01/25/2054 | 7.143% | 10,414,134 | 10,309,651 | |
CMO Series 2024-RN1 Class A1 | ||||
03/25/2054 | 7.143% | 13,168,011 | 13,034,723 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Pretium Mortgage Credit Partners(a),(e) | ||||
CMO Series 2022-NPL1 Class A1 | ||||
01/25/2052 | 2.981% | 13,535,443 | 12,938,536 | |
Pretium Mortgage Credit Partners I LLC(a),(e) | ||||
CMO Series 2021-NPL2 Class A1 | ||||
06/27/2060 | 1.992% | 6,693,578 | 6,405,584 | |
Pretium Mortgage Credit Partners LLC(a),(e) | ||||
CMO Series 2021-RN2 Class A1 | ||||
07/25/2051 | 1.744% | 3,673,417 | 3,524,280 | |
PRPM LLC(a),(e) | ||||
CMO Series 2021-RPL1 Class A1 | ||||
07/25/2051 | 1.319% | 3,602,369 | 3,198,288 | |
RCO Mortgage LLC(a),(e) | ||||
CMO Series 2024-1 Class A1 | ||||
01/25/2029 | 7.021% | 9,294,859 | 9,211,962 | |
Residential Mortgage Loan Trust(a),(e) | ||||
CMO Series 2019-3 Class A3 | ||||
09/25/2059 | 3.044% | 70,580 | 68,751 | |
Saluda Grade Alternative Mortgage Trust(a) | ||||
CMO Series 2020-FIG1 Class A1 | ||||
09/25/2050 | 3.568% | 2,486,090 | 2,403,843 | |
Saluda Grade Alternative Mortgage Trust(a),(c),(d),(e) | ||||
Subordinated CMO Series 2023-FIG4 Class CE | ||||
11/25/2053 | 0.000% | 5,878,069 | 10,010,940 | |
SG Residential Mortgage Trust(a),(e) | ||||
CMO Series 2019-3 Class M1 | ||||
09/25/2059 | 3.526% | 3,801,000 | 3,557,747 | |
Stanwich Mortgage Loan Co. LLC(a),(e) | ||||
CMO Series 2021-NPB1 Class A1 | ||||
10/16/2026 | 2.735% | 5,928,057 | 5,691,297 | |
Starwood Mortgage Residential Trust(a),(e) | ||||
CMO Series 2020-3 Class M1 | ||||
04/25/2065 | 3.544% | 6,500,000 | 5,349,666 | |
CMO Series 2021-3 Class A1 | ||||
06/25/2056 | 1.127% | 1,993,307 | 1,588,565 | |
CMO Series 2021-6 Class A3 | ||||
11/25/2066 | 2.933% | 13,954,000 | 8,814,251 | |
CMO Series 2022-2 Class A1 | ||||
02/25/2067 | 3.141% | 2,653,680 | 2,410,367 | |
Toorak Mortgage Corp., Ltd.(a),(e) | ||||
CMO Series 2021-1 Class A1 | ||||
06/25/2024 | 3.240% | 5,546,579 | 5,506,859 | |
Triangle Re Ltd.(a),(b) | ||||
CMO Series 2021-2 Class M1B | ||||
1-month Term SOFR + 2.714% Floor 2.600% 10/25/2033 | 8.031% | 99,123 | 99,061 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Unlock HEA Trust(a) | ||||
CMO Series 2023-1 Class A | ||||
10/25/2038 | 7.000% | 7,464,456 | 7,141,323 | |
VCAT Asset Securitization LLC(a),(e) | ||||
CMO Series 2021-NPL3 Class A2 | ||||
05/25/2051 | 3.967% | 3,980,000 | 3,477,575 | |
CMO Series 2021-NPL6 Class A1 | ||||
09/25/2051 | 1.917% | 7,503,951 | 7,154,630 | |
VCAT LLC(a),(e) | ||||
CMO Series 2021-NPL4 Class A2 | ||||
08/25/2051 | 3.844% | 7,000,000 | 6,245,161 | |
CMO Series 2021-NPL5 Class A1 | ||||
08/25/2051 | 1.868% | 8,022,417 | 7,719,286 | |
CMO Series 2021-NPL5 Class A2 | ||||
08/25/2051 | 3.844% | 7,500,000 | 6,845,252 | |
Vericrest Opportunity Loan Transferee CVI LLC(a),(e) | ||||
CMO Series 2021-NP12 Class A1 | ||||
12/26/2051 | 2.734% | 16,542,327 | 15,784,726 | |
Vericrest Opportunity Loan Transferee XCIX LLC(a),(e) | ||||
CMO Series 2021-NPL8 Class A1 | ||||
04/25/2051 | 2.116% | 3,475,405 | 3,372,355 | |
Vericrest Opportunity Loan Transferee XCVI LLC(a),(e) | ||||
CMO Series 2021-NPL5 Class A1 | ||||
03/27/2051 | 5.116% | 4,077,606 | 3,999,622 | |
Verus Securitization Trust(a),(e) | ||||
CMO Series 2020-1 Class M1 | ||||
01/25/2060 | 3.021% | 13,245,000 | 11,283,772 | |
CMO Series 2020-4 Class M1 | ||||
05/25/2065 | 3.291% | 4,000,000 | 3,625,769 | |
CMO Series 2021-5 Class A2 | ||||
09/25/2066 | 1.218% | 1,827,515 | 1,494,731 | |
CMO Series 2021-5 Class A3 | ||||
09/25/2066 | 1.373% | 3,460,232 | 2,839,002 | |
CMO Series 2021-5 Class M1 | ||||
09/25/2066 | 2.331% | 2,600,000 | 1,661,327 | |
CMO Series 2021-7 Class A3 | ||||
10/25/2066 | 2.240% | 6,095,194 | 4,973,741 | |
CMO Series 2021-R1 Class A1 | ||||
10/25/2063 | 0.820% | 1,436,753 | 1,333,629 | |
Subordinated CMO Series 2021-8 Class B1 | ||||
11/25/2066 | 4.242% | 12,412,000 | 9,102,180 | |
Visio Trust(a),(e) | ||||
CMO Series 2019-2 Class A3 | ||||
11/25/2054 | 3.076% | 718,184 | 679,300 | |
Visio Trust(a) | ||||
CMO Series 2021-1R Class A1 | ||||
05/25/2056 | 1.280% | 5,743,041 | 5,104,728 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2021-1R Class A2 | ||||
05/25/2056 | 1.484% | 1,821,084 | 1,613,643 | |
Total Residential Mortgage-Backed Securities - Non-Agency (Cost $574,154,254) | 539,942,819 | |||
Senior Loans 1.4% | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 0.0% | ||||
TransDigm, Inc.(b),(o) | ||||
Tranche I Term Loan | ||||
3-month Term SOFR + 2.750% 08/24/2028 | 8.598% | 299,250 | 300,689 | |
Airlines 0.0% | ||||
AAdvantage Loyalty IP Ltd./American Airlines, Inc.(b),(o) | ||||
Term Loan | ||||
6-month Term SOFR + 3.500% 06/04/2029 | 8.775% | 300,000 | 300,876 | |
Air Canada(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 2.500% 03/21/2031 | 7.833% | 200,000 | 201,250 | |
United Airlines, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 2.750% 02/22/2031 | 8.076% | 91,907 | 92,166 | |
Total | 594,292 | |||
Automotive 0.0% | ||||
American Axle & Manufacturing, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 3.500% Floor 0.500% 12/13/2029 | 8.921% | 300,000 | 301,032 | |
First Brands Group LLC(b),(o) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 5.000% Floor 1.000% 03/30/2027 | 10.591% | 299,298 | 286,453 | |
Total | 587,485 | |||
Brokerage/Asset Managers/Exchanges 0.1% | ||||
AlixPartners LLP(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.500% Floor 0.500% 02/04/2028 | 7.930% | 299,229 | 299,935 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Aretec Group, Inc.(b),(o) | ||||
Tranche B1 Term Loan | ||||
1-month Term SOFR + 4.500% 08/09/2030 | 9.916% | 299,246 | 300,608 | |
Citadel Securities LP(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.250% 07/29/2030 | 7.566% | 199,510 | 199,885 | |
Hightower Holding LLC (b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 4.000% Floor 0.750% 04/21/2028 | 9.586% | 299,233 | 300,169 | |
Russell Investments US Institutional Holdco, Inc.(b),(o) | ||||
Pay-In-Kind Term Loan | ||||
1-month Term SOFR + 5.000% Floor 1.000% 05/30/2027 | 10.330% | 208,000 | 186,160 | |
VFH Parent LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.000% 01/13/2029 | 8.416% | 300,000 | 299,532 | |
Total | 1,586,289 | |||
Building Materials 0.1% | ||||
Foundation Building Materials, Inc.(b),(o),(p) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 01/31/2028 | 8.841% | 300,000 | 300,543 | |
Hunter Douglas Holding BV(b),(o) | ||||
Tranche B1 Term Loan | ||||
3-month Term SOFR + 3.500% Floor 0.500% 02/26/2029 | 8.824% | 299,239 | 296,782 | |
LBM Acquisition LLC(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.750% 12/17/2027 | 9.166% | 299,230 | 299,356 | |
Quikrete Holdings, Inc.(b),(o) | ||||
Tranche B1 1st Lien Term Loan | ||||
1-month Term SOFR + 2.500% 04/14/2031 | 7.819% | 299,219 | 299,326 | |
SRS Distribution, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 06/02/2028 | 8.666% | 298,473 | 300,333 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Standard Building Solutions, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.250% Floor 0.500% 09/22/2028 | 7.680% | 298,791 | 299,508 | |
White Cap Supply Holdings LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.500% 10/19/2027 | 9.066% | 298,473 | 299,368 | |
Total | 2,095,216 | |||
Cable and Satellite 0.0% | ||||
UPC Financing Partnership(b),(o) | ||||
Tranche AX Term Loan | ||||
1-month Term SOFR + 3.000% 01/31/2029 | 8.435% | 300,000 | 298,800 | |
Virgin Media Bristol LLC(b),(o) | ||||
Tranche N Term Loan | ||||
1-month Term SOFR + 2.500% 01/31/2028 | 7.935% | 300,000 | 294,225 | |
Total | 593,025 | |||
Chemicals 0.1% | ||||
Axalta Coating Systems Dutch Holding B BV/Axalta Coating Systems US Holdings, Inc.(b),(o) | ||||
Tranche B6 Term Loan | ||||
1-month Term SOFR + 2.000% Floor 0.500% 12/20/2029 | 7.330% | 287,400 | 288,119 | |
Ineos Quattro Holdings UK Ltd.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 4.250% 04/02/2029 | 9.666% | 300,000 | 298,875 | |
Ineos US Finance LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.750% 02/07/2031 | 9.066% | 300,000 | 300,564 | |
Olympus Water US Holding Corp.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.750% 11/09/2028 | 9.321% | 299,235 | 299,651 | |
Windsor Holdings III LLC(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 4.000% 08/01/2030 | 9.319% | 299,250 | 301,494 | |
WR Grace Holdings LLC(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.750% Floor 0.500% 09/22/2028 | 9.321% | 513,188 | 513,187 | |
Total | 2,001,890 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Consumer Cyclical Services 0.1% | ||||
8th Avenue Food & Provisions, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.750% 10/01/2025 | 9.180% | 375,855 | 361,058 | |
APX Group, Inc.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 2.750% Floor 0.500% 07/10/2028 | 10.750% | 299,233 | 299,233 | |
Arches Buyer, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 12/06/2027 | 8.666% | 299,227 | 288,547 | |
Cast & Crew LLC(b),(o),(p) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.500% 12/29/2028 | 9.080% | 147,727 | 147,681 | |
Conservice Midco LLC(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 4.000% 05/13/2027 | 9.316% | 299,250 | 299,624 | |
Corporation Service Co.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 2.750% Floor 0.500% 11/02/2029 | 8.066% | 317,565 | 318,226 | |
Cushman & Wakefield US Borrower LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 01/31/2030 | 8.666% | 299,246 | 299,620 | |
Fleet Midco I Ltd.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 3.250% 02/21/2031 | 8.566% | 100,000 | 100,250 | |
PG Polaris Bidco SARL(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.500% 03/26/2031 | 8.812% | 283,237 | 284,180 | |
Prime Security Services Borrower LLC(b),(o),(p) | ||||
Tranche B1 1st Lien Term Loan | ||||
3-month Term SOFR + 2.250% 10/13/2030 | 7.579% | 149,250 | 149,429 | |
Sotheby’s(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 4.500% Floor 0.500% 01/15/2027 | 10.090% | 245,269 | 238,779 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Uber Technologies, Inc.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 2.750% 03/03/2030 | 8.079% | 299,052 | 300,828 | |
Total | 3,087,455 | |||
Consumer Products 0.0% | ||||
Amer Sports Co.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.250% 02/17/2031 | 8.576% | 264,045 | 264,623 | |
Bombardier Recreational Products, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.750% 01/22/2031 | 8.066% | 300,000 | 300,141 | |
Recess Holdings, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 4.500% Floor 1.000% 02/20/2030 | 9.843% | 300,000 | 300,750 | |
Total | 865,514 | |||
Diversified Manufacturing 0.1% | ||||
Barnes Group, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.500% 09/03/2030 | 7.816% | 299,248 | 299,715 | |
CD&R Hydra Buyer, Inc.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 4.000% 03/25/2031 | 9.420% | 86,364 | 87,083 | |
EMRLD Borrower LP(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 2.500% 05/31/2030 | 7.816% | 286,143 | 286,988 | |
Husky Injection Molding Systems Ltd./Yukon Acquisition, Inc.(b),(o),(p) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 5.000% 02/01/2029 | 8.326% | 254,386 | 255,604 | |
Madison IAQ LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% 06/21/2028 | 8.680% | 299,231 | 299,192 | |
TK Elevator Midco GmbH(b),(o) | ||||
Tranche B2 Term Loan | ||||
6-month Term SOFR + 3.500% Floor 0.500% 04/30/2030 | 8.791% | 299,250 | 300,378 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
WEC US Holdings Ltd.(b),(o),(p) | ||||
Term Loan | ||||
1-month Term SOFR + 2.750% 01/27/2031 | 8.066% | 285,210 | 285,330 | |
Total | 1,814,290 | |||
Electric 0.0% | ||||
Calpine Corp.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.000% 01/13/2031 | 7.316% | 300,000 | 299,424 | |
EFS Cogen Holdings I LLC(b),(o) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 3.500% Floor 1.000% 10/01/2027 | 9.080% | 193,077 | 192,957 | |
Vistra Zero Operating Company LLC(b),(o),(p) | ||||
Term Loan | ||||
1-month Term SOFR + 2.750% 04/30/2031 | 8.068% | 158,333 | 158,837 | |
Total | 651,218 | |||
Environmental 0.0% | ||||
Covanta Holdings Corp. (b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 2.500% Floor 0.500% 11/30/2028 | 7.816% | 278,039 | 277,889 | |
Tranche C Term Loan | ||||
1-month Term SOFR + 2.500% Floor 0.500% 11/30/2028 | 7.816% | 21,252 | 21,240 | |
Total | 299,129 | |||
Food and Beverage 0.0% | ||||
Aramark Intermediate HoldCo Corp.(b),(o) | ||||
Tranche B7 Term Loan | ||||
1-month Term SOFR + 2.000% 04/06/2028 | 7.316% | 300,000 | 299,814 | |
Primary Products Finance LLC(b),(o) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 3.500% Floor 0.500% 04/01/2029 | 8.952% | 299,250 | 299,065 | |
Triton Water Holdings, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 3.250% Floor 0.500% 03/31/2028 | 8.814% | 299,231 | 297,836 | |
Total | 896,715 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Gaming 0.1% | ||||
Caesars Entertainment, Inc.(b),(o) | ||||
Tranche B1 Term Loan | ||||
1-month Term SOFR + 2.750% Floor 0.500% 02/06/2031 | 8.066% | 221,053 | 221,163 | |
ECL Entertainment LLC(b),(o),(p) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 4.000% 08/31/2030 | 9.317% | 144,944 | 145,996 | |
Entain PLC(b),(o) | ||||
Tranche B2 Term Loan | ||||
3-month Term SOFR + 3.500% Floor 0.500% 10/31/2029 | 8.909% | 299,243 | 299,758 | |
Fertitta Entertainment LLC(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.500% 01/27/2029 | 9.069% | 299,237 | 299,772 | |
Flutter Entertainment PLC(b),(o) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 2.250% Floor 0.500% 11/25/2030 | 7.559% | 299,250 | 299,516 | |
HRNI Holdings LLC(b),(o) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 4.250% Floor 0.750% 12/11/2028 | 9.702% | 295,312 | 289,962 | |
Ontario Gaming GTA LP(b),(o),(p) | ||||
Tranche B 1st Lien Term Loan | ||||
3-month Term SOFR + 4.250% Floor 0.500% 08/01/2030 | 9.559% | 251,927 | 253,134 | |
Penn Entertainment, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 2.750% Floor 0.500% 05/03/2029 | 8.166% | 299,239 | 299,331 | |
Scientific Games Holdings LP(b),(o),(p) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 3.250% Floor 0.500% 04/04/2029 | 8.556% | 300,000 | 299,952 | |
Total | 2,408,584 | |||
Health Care 0.1% | ||||
Agiliti Health, Inc.(b),(o),(p) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 3.000% 05/01/2030 | 8.332% | 83,333 | 83,855 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Medline Borrower LP(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.750% Floor 0.500% 10/23/2028 | 8.068% | 454,281 | 455,285 | |
Parexel International, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 11/15/2028 | 8.680% | 299,237 | 300,018 | |
Select Medical Corp.(b),(o) | ||||
Tranche B1 Term Loan | ||||
1-month Term SOFR + 3.000% 03/06/2027 | 8.316% | 288,662 | 288,843 | |
Star Parent, Inc.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 4.000% 09/27/2030 | 9.309% | 300,000 | 299,814 | |
Surgery Center Holdings, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.500% 12/19/2030 | 8.815% | 300,000 | 301,563 | |
Upstream Newco, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 4.250% 11/20/2026 | 9.841% | 299,231 | 273,584 | |
Total | 2,002,962 | |||
Independent Energy 0.0% | ||||
Hamilton Projects Acquiror LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 4.500% Floor 1.000% 06/17/2027 | 9.930% | 329,375 | 331,092 | |
Leisure 0.1% | ||||
Alterra Mountain Co.(b),(o) | ||||
Tranche B4 Term Loan | ||||
1-month Term SOFR + 3.250% 08/17/2028 | 8.577% | 349,105 | 350,267 | |
Carnival Corp.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.000% Floor 0.750% 08/09/2027 | 8.319% | 268,407 | 269,749 | |
Cinemark USA, Inc.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.750% Floor 0.500% 05/24/2030 | 9.062% | 299,244 | 300,205 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Formula One Management Ltd.(b),(o) | ||||
Tranche B 1st Lien Term Loan | ||||
3-month Term SOFR + 2.250% Floor 0.500% 01/15/2030 | 7.559% | 300,000 | 300,225 | |
Motion Acquisition Ltd.(b),(o),(p) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 3.500% 11/12/2029 | 9.071% | 231,460 | 231,055 | |
UFC Holdings LLC(b),(o) | ||||
Tranche B3 1st Lien Term Loan | ||||
3-month Term SOFR + 2.750% Floor 0.750% 04/29/2026 | 8.336% | 299,148 | 299,615 | |
Total | 1,751,116 | |||
Lodging 0.0% | ||||
Hilton Grand Vacations Borrower LLC(b),(o),(p) | ||||
Term Loan | ||||
1-month Term SOFR + 2.500% Floor 0.500% 08/02/2028 | 7.816% | 300,000 | 300,189 | |
Playa Resorts Holding BV(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% 01/05/2029 | 8.565% | 299,242 | 300,296 | |
Total | 600,485 | |||
Media and Entertainment 0.1% | ||||
AppLovin Corp.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.500% Floor 0.500% 10/25/2028 | 7.816% | 300,000 | 300,225 | |
Cengage Learning, Inc.(b),(o) | ||||
Tranche B 1st Lien Term Loan | ||||
1-month Term SOFR + 4.250% Floor 1.000% 03/24/2031 | 9.565% | 200,000 | 200,358 | |
Creative Artists Agency LLC(b),(o) | ||||
Tranche B2 Term Loan | ||||
1-month Term SOFR + 3.250% 11/27/2028 | 8.566% | 300,000 | 300,918 | |
Dotdash Meredith, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 4.000% Floor 0.500% 12/01/2028 | 9.429% | 299,233 | 296,241 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
E.W. Scripps Co. (The)(b),(o) | ||||
Tranche B3 Term Loan | ||||
1-month Term SOFR + 3.000% Floor 0.750% 01/07/2028 | 8.430% | 298,911 | 280,172 | |
Playtika Holding Corp.(b),(o) | ||||
Tranche B1 Term Loan | ||||
1-month Term SOFR + 2.750% 03/13/2028 | 8.180% | 299,229 | 299,172 | |
StubHub Holdco Sub LLC(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 4.750% 03/15/2030 | 10.066% | 195,763 | 195,579 | |
Univision Communications, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.750% 01/31/2029 | 8.680% | 299,236 | 298,240 | |
Total | 2,170,905 | |||
Midstream 0.0% | ||||
CQP Holdco LP(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.000% Floor 0.500% 12/31/2030 | 8.302% | 299,250 | 300,028 | |
Oryx Midstream Services Permian Basin LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.000% Floor 0.500% 10/05/2028 | 8.436% | 299,250 | 299,998 | |
Whitewater DBR Holdco LLC(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 2.750% 03/03/2031 | 8.052% | 245,455 | 245,558 | |
Total | 845,584 | |||
Other Financial Institutions 0.1% | ||||
19th Holdings Golf LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 02/07/2029 | 8.673% | 299,239 | 294,939 | |
Freeport LNG Investments LLLP(b),(o) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 3.500% Floor 0.500% 12/21/2028 | 9.086% | 348,205 | 345,830 | |
GIP Pilot Acquisition Partners LP(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.000% 10/04/2030 | 8.308% | 299,250 | 300,297 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
IGT Holding IV AB/IFS(b),(o) | ||||
Tranche B2 Term Loan | ||||
3-month Term SOFR + 3.400% Floor 0.500% 03/31/2028 | 8.972% | 299,229 | 299,977 | |
Total | 1,241,043 | |||
Other Industry 0.0% | ||||
Artera Services LLC(b),(o) | ||||
Tranche C 1st Lien Term Loan | ||||
3-month Term SOFR + 4.500% 02/15/2031 | 9.809% | 71,186 | 71,750 | |
Brand Industrial Services, Inc.(b),(o) | ||||
Tranche C Term Loan | ||||
3-month Term SOFR + 4.500% Floor 0.500% 08/01/2030 | 9.799% | 16,667 | 16,712 | |
KBR, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 2.250% 01/17/2031 | 7.566% | 375,000 | 375,859 | |
Total | 464,321 | |||
Packaging 0.0% | ||||
Charter Next Generation, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.500% 12/01/2027 | 8.816% | 349,098 | 350,309 | |
Clydesdale Acquisition Holdings, Inc.(b),(o) | ||||
Tranche B 1st Lien Term Loan | ||||
1-month Term SOFR + 3.675% Floor 0.500% 04/13/2029 | 9.091% | 299,238 | 300,361 | |
Pactiv Evergreen, Inc.(b),(o) | ||||
Tranche B3 Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 09/24/2028 | 8.680% | 300,000 | 301,449 | |
Total | 952,119 | |||
Pharmaceuticals 0.0% | ||||
Jazz Pharmaceuticals PLC(b),(o) | ||||
Tranche B1 Term Loan | ||||
1-month Term SOFR + 3.000% Floor 0.500% 05/05/2028 | 8.430% | 299,146 | 300,830 | |
Property & Casualty 0.1% | ||||
AssuredPartners, Inc.(b),(o),(p) | ||||
Term Loan | ||||
1-month Term SOFR + 3.500% Floor 0.500% 02/14/2031 | 8.816% | 300,000 | 301,266 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Asurion LLC(b),(o) | ||||
Tranche B9 Term Loan | ||||
1-month Term SOFR + 3.250% 07/31/2027 | 8.680% | 299,229 | 290,252 | |
Broadstreet Partners, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 3.750% 01/27/2029 | 9.066% | 299,250 | 299,998 | |
Hub International Ltd.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.750% 06/20/2030 | 8.575% | 300,000 | 301,488 | |
Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.750% 02/24/2028 | 9.066% | 299,244 | 300,256 | |
Truist Insurance Holdings LLC(b),(o),(p) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 3.250% 03/24/2031 | 8.586% | 202,778 | 203,159 | |
Total | 1,696,419 | |||
Restaurants 0.0% | ||||
1011778 BC ULC(b),(o) | ||||
Tranche B5 Term Loan | ||||
1-month Term SOFR + 2.250% 09/20/2030 | 7.566% | 199,250 | 199,392 | |
IRB Holding Corp.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 2.750% Floor 0.750% 12/15/2027 | 8.166% | 300,000 | 300,345 | |
Whatabrands LLC(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 08/03/2028 | 8.680% | 398,980 | 400,308 | |
Total | 900,045 | |||
Retailers 0.0% | ||||
Great Outdoors Group LLC(b),(o) | ||||
Tranche B2 Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.750% 03/06/2028 | 9.180% | 349,105 | 348,917 | |
Harbor Freight Tools USA, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.750% Floor 0.500% 10/19/2027 | 8.180% | 300,000 | 300,081 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
PetSmart LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.750% 02/11/2028 | 9.166% | 298,465 | 293,839 | |
Total | 942,837 | |||
Technology 0.3% | ||||
Adeia, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 3.500% 06/08/2028 | 8.930% | 279,979 | 281,029 | |
Ascend Learning LLC(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.500% Floor 0.500% 12/11/2028 | 8.916% | 743,296 | 740,196 | |
2nd Lien Term Loan | ||||
1-month Term SOFR + 5.750% Floor 0.500% 12/10/2029 | 11.166% | 338,000 | 330,959 | |
athenahealth Group, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 02/15/2029 | 8.566% | 299,239 | 298,490 | |
Barracuda Parent LLC(b),(o) | ||||
1st Lien Term Loan | ||||
6-month Term SOFR + 4.500% Floor 0.500% 08/15/2029 | 9.814% | 299,242 | 299,195 | |
Boost Newco Borrower LLC(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.000% Floor 0.500% 01/31/2031 | 8.309% | 300,000 | 300,564 | |
Camelot US Acquisition LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.750% 01/31/2031 | 8.066% | 300,000 | 300,468 | |
Central Parent LLC(b),(o) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 4.000% 07/06/2029 | 9.309% | 350,000 | 351,243 | |
Cloud Software Group, Inc.(b),(o) | ||||
Tranche A 1st Lien Term Loan | ||||
3-month Term SOFR + 4.500% 09/29/2028 | 9.909% | 398,869 | 398,422 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Cloudera, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.500% 10/08/2028 | 9.166% | 298,473 | 296,856 | |
Cotiviti Holdings, Inc.(b),(o),(p) | ||||
Term Loan | ||||
3-month Term SOFR + 3.250% 05/01/2031 | 8.563% | 300,000 | 300,249 | |
DCert Buyer, Inc.(b),(o) | ||||
2nd Lien Term Loan | ||||
1-month Term SOFR + 7.000% 02/19/2029 | 12.316% | 134,667 | 120,780 | |
Dun & Bradstreet Corp. (The)(b),(o) | ||||
Tranche B2 Term Loan | ||||
1-month Term SOFR + 2.750% 01/18/2029 | 8.068% | 300,000 | 300,459 | |
Ellucian Holdings, Inc.(b),(o) | ||||
Tranche B1 1st Lien Term Loan | ||||
1-month Term SOFR + 3.500% Floor 0.500% 10/09/2029 | 8.916% | 298,196 | 298,995 | |
Genesys Cloud Services Holdings I LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.750% 12/01/2027 | 9.180% | 61,210 | 61,516 | |
Greeneden US Holdings I LLC(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.500% Floor 0.750% 12/01/2027 | 8.816% | 23,017 | 23,095 | |
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 3.750% 07/18/2030 | 9.077% | 184,154 | 183,386 | |
Idemia Group SAS(b),(o) | ||||
Tranche B5 Term Loan | ||||
3-month Term SOFR + 4.250% Floor 0.750% 09/30/2028 | 9.559% | 300,000 | 300,750 | |
Idera, Inc.(b),(o) | ||||
Tranche B1 1st Lien Term Loan | ||||
3-month Term SOFR + 3.750% Floor 0.750% 03/02/2028 | 9.206% | 299,229 | 297,592 | |
Ingram Micro, Inc.(b),(o) | ||||
Tranche B Term Loan | ||||
3-month Term SOFR + 3.000% Floor 0.500% 06/30/2028 | 8.571% | 300,000 | 300,750 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Lummus Technology Holdings V LLC(b),(o) | ||||
Tranche B Term Loan | ||||
1-month Term SOFR + 3.500% 12/31/2029 | 8.930% | 152,909 | 153,313 | |
McAfee Corp.(b),(o) | ||||
Tranche B1 Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.500% 03/01/2029 | 9.177% | 299,239 | 299,280 | |
Mitchell International, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.500% 10/15/2028 | 9.180% | 299,237 | 299,437 | |
Nielsen Consumer, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 6.250% Floor 0.500% 03/06/2028 | 11.566% | 299,246 | 298,031 | |
Open Text Corp.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 2.750% 01/31/2030 | 8.166% | 284,115 | 284,751 | |
Peraton Corp.(b),(o) | ||||
Tranche B 1st Lien Term Loan | ||||
1-month Term SOFR + 3.750% Floor 0.750% 02/01/2028 | 9.166% | 398,949 | 398,878 | |
Proofpoint, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 3.250% Floor 0.500% 08/31/2028 | 8.680% | 299,235 | 300,450 | |
Sovos Compliance LLC(b),(o) | ||||
1st Lien Term Loan | ||||
1-month Term SOFR + 4.500% Floor 0.500% 08/11/2028 | 9.930% | 299,235 | 295,291 | |
UKG, Inc.(b),(o) | ||||
1st Lien Term Loan | ||||
3-month Term SOFR + 3.500% 02/10/2031 | 8.814% | 315,036 | 316,400 | |
Ultra Clean Holdings, Inc.(b),(o) | ||||
Term Loan | ||||
1-month Term SOFR + 3.500% 02/25/2028 | 8.816% | 122,673 | 122,827 | |
Total | 8,553,652 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Transportation Services 0.0% | ||||
Brown Group Holding LLC(b),(o) | ||||
Tranche B2 Term Loan | ||||
3-month Term SOFR + 3.000% Floor 0.500% 07/02/2029 | 8.334% | 300,000 | 300,189 | |
Wireless 0.0% | ||||
Crown Subsea Communications Holdings, Inc.(b),(o) | ||||
Term Loan | ||||
3-month Term SOFR + 4.750% Floor 0.750% 01/30/2031 | 10.080% | 300,000 | 301,875 | |
Total Senior Loans (Cost $41,196,480) | 41,137,265 | |||
U.S. Treasury Obligations 1.8% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury | ||||
06/30/2025 | 2.750% | 20,000,000 | 19,444,531 | |
08/15/2025 | 2.000% | 15,000,000 | 14,408,789 | |
08/15/2045 | 2.875% | 14,000,000 | 10,233,125 | |
02/15/2046 | 2.500% | 9,000,000 | 6,101,719 | |
Total U.S. Treasury Obligations (Cost $54,556,026) | 50,188,164 |
Call Option Contracts Purchased 0.1% | ||||
Value ($) | ||||
(Cost $7,351,500) | 3,170,069 | |||
Put Option Contracts Purchased 0.2% | ||||
(Cost $4,688,184) | 6,969,971 |
Money Market Funds 6.7% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.485%(q),(r) | 193,728,589 | 193,670,471 |
Total Money Market Funds (Cost $193,660,990) | 193,670,471 | |
Total Investments in Securities (Cost: $3,420,614,546) | 3,198,314,448 | |
Other Assets & Liabilities, Net | (325,498,431 ) | |
Net Assets | 2,872,816,017 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
3,494,900 EUR | 3,732,518 USD | Citi | 06/07/2024 | — | (2,845 ) |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | 3,243 | 06/2024 | USD | 348,419,813 | — | (8,798,121 ) |
U.S. Treasury 2-Year Note | 2,731 | 06/2024 | USD | 553,454,219 | — | (1,125,144 ) |
U.S. Treasury 5-Year Note | 3,241 | 06/2024 | USD | 339,469,431 | — | (5,866,013 ) |
U.S. Treasury Ultra Bond | 406 | 06/2024 | USD | 48,542,375 | — | (3,320,177 ) |
Total | — | (19,109,455 ) |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Euro-Bund | (1,222) | 06/2024 | EUR | (158,957,760 ) | 2,196,993 | — |
U.S. Long Bond | (487) | 06/2024 | USD | (55,426,688 ) | 2,567,093 | — |
Total | 4,764,086 | — |
Call option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive exercise rate and pay SOFR | Citi | USD | 60,000,000 | 60,000,000 | 3.80 | 04/10/2025 | 1,842,000 | 1,106,700 |
10-Year OTC interest rate swap with Morgan Stanley to receive exercise rate and pay SOFR | Morgan Stanley | USD | 50,000,000 | 50,000,000 | 4.00 | 11/06/2024 | 1,500,000 | 753,680 |
10-Year OTC interest rate swap with Morgan Stanley to receive exercise rate and pay SOFR | Morgan Stanley | USD | 90,000,000 | 90,000,000 | 3.75 | 11/29/2024 | 2,853,000 | 946,026 |
5-Year OTC interest rate swap with Citi to receive exercise rate and pay SOFR | Citi | USD | 90,000,000 | 90,000,000 | 3.80 | 09/20/2024 | 1,156,500 | 363,663 |
Total | 7,351,500 | 3,170,069 |
Put option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive SOFR and pay exercise rate | Citi | USD | 25,000,000 | 25,000,000 | 4.50 | 04/25/2025 | 613,750 | 576,175 |
10-Year OTC interest rate swap with Goldman Sachs International to receive SOFR and pay exercise rate | Goldman Sachs International | USD | 50,000,000 | 50,000,000 | 4.50 | 04/16/2025 | 1,177,500 | 1,139,585 |
5-Year OTC interest rate swap with Citi to receive SOFR and pay exercise rate | Citi | USD | 192,000,000 | 192,000,000 | 4.50 | 10/07/2024 | 995,136 | 2,054,093 |
5-Year OTC interest rate swap with Morgan Stanley to receive SOFR and pay exercise rate | Morgan Stanley | USD | 175,000,000 | 175,000,000 | 4.50 | 10/02/2024 | 848,750 | 1,853,530 |
5-Year OTC interest rate swap with Morgan Stanley to receive SOFR and pay exercise rate | Morgan Stanley | USD | 123,888,000 | 123,888,000 | 4.50 | 10/15/2024 | 1,053,048 | 1,346,588 |
Total | 4,688,184 | 6,969,971 |
Credit default swap contracts - buy protection | ||||||||||||
Reference entity | Counterparty | Maturity date | Pay fixed rate (%) | Payment frequency | Notional currency | Notional amount | Value ($) | Periodic payments receivable (payable) ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CMBX North America Index, Series 11 BBB- | Citi | 11/18/2054 | 3.000 | Monthly | USD | 7,000,000 | 1,024,797 | (3,500 ) | 1,718,942 | — | — | (697,645 ) |
Markit CMBX North America Index, Series 12 BBB- | Citi | 08/17/2061 | 3.000 | Monthly | USD | 5,800,000 | 1,295,220 | (2,900 ) | 1,547,331 | — | — | (255,011 ) |
Markit CMBX North America Index, Series 11 BBB- | Goldman Sachs International | 11/18/2054 | 3.000 | Monthly | USD | 1,700,000 | 248,879 | (850 ) | 250,368 | — | — | (2,339 ) |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | USD | 8,000,000 | 1,641,352 | (4,000 ) | 313,927 | — | 1,323,425 | — |
Markit CMBX North America Index, Series 11 BBB- | JPMorgan | 11/18/2054 | 3.000 | Monthly | USD | 1,700,000 | 248,879 | (850 ) | 55,353 | — | 192,676 | — |
Credit default swap contracts - buy protection (continued) | ||||||||||||
Reference entity | Counterparty | Maturity date | Pay fixed rate (%) | Payment frequency | Notional currency | Notional amount | Value ($) | Periodic payments receivable (payable) ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CMBX North America Index, Series 10 BBB- | Morgan Stanley | 11/17/2059 | 3.000 | Monthly | USD | 1,000,000 | 205,169 | (500 ) | 56,134 | — | 148,535 | — |
Markit CMBX North America Index, Series 16 BBB- | Morgan Stanley | 04/17/2065 | 3.000 | Monthly | USD | 5,780,000 | 961,513 | (2,890 ) | 1,320,525 | — | — | (361,902 ) |
Total | 5,625,809 | (15,490 ) | 5,262,580 | — | 1,664,636 | (1,316,897 ) |
Cleared credit default swap contracts - buy protection | |||||||||||
Reference entity | Counterparty | Maturity date | Pay fixed rate (%) | Payment frequency | Notional currency | Notional amount | Value ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CDX North America High Yield Index, Series 42 | Morgan Stanley | 06/20/2029 | 5.000 | Quarterly | USD | 105,714,939 | 259,817 | — | — | 259,817 | — |
Credit default swap contracts - sell protection | |||||||||||||
Reference entity | Counterparty | Maturity date | Receive fixed rate (%) | Payment frequency | Implied credit spread (%)* | Notional currency | Notional amount | Value ($) | Periodic payments receivable (payable) ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CMBX North America Index, Series 10 BBB- | Citi | 11/17/2059 | 3.000 | Monthly | 13.463 | USD | 7,000,000 | (1,436,181 ) | 3,500 | — | (807,664 ) | — | (625,017 ) |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | 13.463 | USD | 5,000,000 | (1,025,843 ) | 2,500 | — | (1,041,271 ) | 17,928 | — |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | 13.463 | USD | 5,000,000 | (1,025,845 ) | 2,500 | — | (806,605 ) | — | (216,740 ) |
Markit CMBX North America Index, Series 8 BBB- | Morgan Stanley | 10/17/2057 | 3.000 | Monthly | 33.880 | USD | 7,000,000 | (774,452 ) | 3,500 | — | (1,384,908 ) | 613,956 | — |
Total | (4,262,321 ) | 12,000 | — | (4,040,448 ) | 631,884 | (841,757 ) |
(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 April 30, 2024, the total value of these securities amounted to $1,325,075,197, which represents 46.12% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of April 30, 2024. |
(c) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At April 30, 2024, the total value of these securities amounted to $13,803,980, which represents 0.48% of total net assets. |
(d) | Valuation based on significant unobservable inputs. |
(e) | 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 April 30, 2024. |
(f) | Non-income producing investment. |
(g) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(h) | Represents a security purchased on a when-issued basis. |
(i) | 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 April 30, 2024. |
(j) | Represents a security in default. |
(k) | Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash. |
(l) | Principal and interest may not be guaranteed by a governmental entity. |
(m) | Represents interest only securities which have the right to receive the monthly interest payments on an underlying pool of mortgage loans. |
(n) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(o) | The stated interest rate represents the weighted average interest rate at April 30, 2024 of contracts within the senior loan facility. Interest rates on contracts are primarily determined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. Base lending rates may be subject to a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay cannot be predicted with accuracy. As a result, remaining maturities of senior loans may be less than the stated maturities. Generally, the Fund is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(p) | Represents a security purchased on a forward commitment basis. |
(q) | The rate shown is the seven-day current annualized yield at April 30, 2024. |
(r) | 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 April 30, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.485% | ||||||||
214,376,314 | 1,592,116,639 | (1,612,814,111 ) | (8,371 ) | 193,670,471 | 5,919 | 8,800,444 | 193,728,589 |
CMO | Collateralized Mortgage Obligation |
CMT | Constant Maturity Treasury |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal Securities |
TBA | To Be Announced |
EUR | Euro |
USD | US Dollar |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Asset-Backed Securities - Non-Agency | — | 485,961,585 | 3,751,971 | 489,713,556 |
Commercial Mortgage-Backed Securities - Non-Agency | — | 60,706,912 | — | 60,706,912 |
Common Stocks | ||||
Financials | 348,789 | — | — | 348,789 |
Industrials | 76,830 | — | — | 76,830 |
Total Common Stocks | 425,619 | — | — | 425,619 |
Convertible Bonds | — | 348,919 | — | 348,919 |
Corporate Bonds & Notes | — | 638,415,034 | 41,069 | 638,456,103 |
Foreign Government Obligations | — | 52,710,686 | — | 52,710,686 |
Inflation-Indexed Bonds | — | 7,525,151 | — | 7,525,151 |
Residential Mortgage-Backed Securities - Agency | — | 1,113,348,743 | — | 1,113,348,743 |
Residential Mortgage-Backed Securities - Non-Agency | — | 517,400,371 | 22,542,448 | 539,942,819 |
Senior Loans | — | 41,137,265 | — | 41,137,265 |
U.S. Treasury Obligations | — | 50,188,164 | — | 50,188,164 |
Call Option Contracts Purchased | — | 3,170,069 | — | 3,170,069 |
Put Option Contracts Purchased | — | 6,969,971 | — | 6,969,971 |
Money Market Funds | 193,670,471 | — | — | 193,670,471 |
Total Investments in Securities | 194,096,090 | 2,977,882,870 | 26,335,488 | 3,198,314,448 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 4,764,086 | — | — | 4,764,086 |
Swap Contracts | — | 2,556,337 | — | 2,556,337 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (2,845 ) | — | (2,845 ) |
Futures Contracts | (19,109,455 ) | — | — | (19,109,455 ) |
Swap Contracts | — | (2,158,654 ) | — | (2,158,654 ) |
Total | 179,750,721 | 2,978,277,708 | 26,335,488 | 3,184,363,917 |
Balance as of 04/30/2023 ($) | Increase (decrease) in accrued discounts/ premiums ($) | Realized gain (loss) ($) | Change in unrealized appreciation (depreciation)(a) ($) | Purchases ($) | Sales ($) | Transfers into Level 3 ($) | Transfers out of Level 3 ($) | Balance as of 04/30/2024 ($) | |
Asset-Backed Securities — Non-Agency | 16,858,904 | 67,106 | — | 43,525 | — | (6,235,064 ) | — | (6,982,500 ) | 3,751,971 |
Corporate Bonds & Notes | 41,069 | — | — | — | — | — | — | — | 41,069 |
Residential Mortgage-Backed Securities — Non-Agency | 51,697,995 | (122,952 ) | 19,719 | 1,505,711 | 10,286,609 | (40,844,634 ) | — | — | 22,542,448 |
Total | 68,597,968 | (55,846 ) | 19,719 | 1,549,236 | 10,286,609 | (47,079,698 ) | — | (6,982,500 ) | 26,335,488 |
Valuation Technique | Value ($) | |
Asset-Backed Securities - Non-Agency | Single Market Quotes from Broker | 3,751,971 |
Corporate Bonds & Notes | Market Approach | 41,069 |
Residential Mortgage-Backed Securities - Non-Agency | Single Market Quotes from Broker | 22,542,448 |
Total | 26,335,488 |
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $3,214,913,872) | $2,994,503,937 |
Affiliated issuers (cost $193,660,990) | 193,670,471 |
Option contracts purchased (cost $12,039,684) | 10,140,040 |
Cash | 353,036 |
Foreign currency (cost $69,013) | 68,749 |
Cash collateral held at broker for: | |
Swap contracts | 250,000 |
TBA | 3,943,938 |
Margin deposits on: | |
Swap contracts | 5,733,369 |
Unrealized appreciation on swap contracts | 2,296,520 |
Upfront payments on swap contracts | 5,262,580 |
Receivable for: | |
Investments sold | 11,590,207 |
Investments sold on a delayed delivery basis | 176,810 |
Capital shares sold | 11,727,859 |
Dividends | 611,595 |
Interest | 16,382,830 |
Foreign tax reclaims | 3,944 |
Variation margin for futures contracts | 1,384,640 |
Variation margin for swap contracts | 383,030 |
Expense reimbursement due from Investment Manager | 10,086 |
Prepaid expenses | 11,901 |
Deferred compensation of board members | 390,702 |
Total assets | 3,258,896,244 |
Liabilities | |
Unrealized depreciation on forward foreign currency exchange contracts | 2,845 |
Unrealized depreciation on swap contracts | 2,158,654 |
Upfront receipts on swap contracts | 4,040,448 |
Payable for: | |
Investments purchased | 1,553,946 |
Investments purchased on a delayed delivery basis | 358,818,445 |
Capital shares redeemed | 4,232,767 |
Distributions to shareholders | 10,417,843 |
Variation margin for futures contracts | 3,998,366 |
Management services fees | 37,633 |
Distribution and/or service fees | 4,373 |
Transfer agent fees | 284,829 |
Compensation of board members | 1,793 |
Other expenses | 75,185 |
Deferred compensation of board members | 453,100 |
Total liabilities | 386,080,227 |
Net assets applicable to outstanding capital stock | $2,872,816,017 |
Represented by | |
Paid in capital | 3,675,622,141 |
Total distributable earnings (loss) | (802,806,124 ) |
Total - representing net assets applicable to outstanding capital stock | $2,872,816,017 |
Class A | |
Net assets | $538,728,566 |
Shares outstanding | 18,525,375 |
Net asset value per share | $29.08 |
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) | $29.98 |
Advisor Class | |
Net assets | $248,401,508 |
Shares outstanding | 8,552,343 |
Net asset value per share | $29.04 |
Class C | |
Net assets | $21,437,842 |
Shares outstanding | 737,123 |
Net asset value per share | $29.08 |
Institutional Class | |
Net assets | $1,267,197,137 |
Shares outstanding | 43,549,267 |
Net asset value per share | $29.10 |
Institutional 2 Class | |
Net assets | $307,788,950 |
Shares outstanding | 10,598,285 |
Net asset value per share | $29.04 |
Institutional 3 Class | |
Net assets | $482,333,516 |
Shares outstanding | 16,575,597 |
Net asset value per share | $29.10 |
Class R | |
Net assets | $6,928,498 |
Shares outstanding | 238,145 |
Net asset value per share | $29.09 |
Net investment income | |
Income: | |
Dividends — affiliated issuers | $8,800,444 |
Interest | 158,549,447 |
Interfund lending | 15,965 |
Foreign taxes withheld | (4,589 ) |
Total income | 167,361,267 |
Expenses: | |
Management services fees | 14,224,533 |
Distribution and/or service fees | |
Class A | 1,453,249 |
Class C | 200,211 |
Class R | 32,848 |
Transfer agent fees | |
Class A | 702,467 |
Advisor Class | 311,501 |
Class C | 24,116 |
Institutional Class | 1,616,548 |
Institutional 2 Class | 162,114 |
Institutional 3 Class | 27,511 |
Class R | 7,909 |
Custodian fees | 72,718 |
Printing and postage fees | 162,938 |
Registration fees | 188,906 |
Accounting services fees | 52,005 |
Legal fees | 47,201 |
Interest on collateral | 323,394 |
Compensation of chief compliance officer | 566 |
Compensation of board members | 45,690 |
Deferred compensation of board members | 21,132 |
Other | 56,218 |
Total expenses | 19,733,775 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (4,222,849 ) |
Fees waived by transfer agent | |
Institutional 2 Class | (4,520 ) |
Institutional 3 Class | (9,242 ) |
Expense reduction | (1,477 ) |
Total net expenses | 15,495,687 |
Net investment income | 151,865,580 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | $(73,562,528 ) |
Investments — affiliated issuers | 5,919 |
Foreign currency translations | (13,750 ) |
Forward foreign currency exchange contracts | 177,132 |
Futures contracts | (52,601,440 ) |
Option contracts purchased | (26,763,799 ) |
Option contracts written | 5,946,589 |
Swap contracts | (13,588,844 ) |
Net realized loss | (160,400,721 ) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 11,135,432 |
Investments — affiliated issuers | (8,371 ) |
Foreign currency translations | (2,744 ) |
Forward foreign currency exchange contracts | 7,514 |
Futures contracts | (28,794,945 ) |
Option contracts purchased | 16,108,751 |
Option contracts written | (4,376,507 ) |
Swap contracts | 860,954 |
Net change in unrealized appreciation (depreciation) | (5,069,916 ) |
Net realized and unrealized loss | (165,470,637 ) |
Net decrease in net assets resulting from operations | $(13,605,057 ) |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $151,865,580 | $113,204,638 |
Net realized loss | (160,400,721 ) | (286,596,696 ) |
Net change in unrealized appreciation (depreciation) | (5,069,916 ) | 62,495,596 |
Net decrease in net assets resulting from operations | (13,605,057 ) | (110,896,462 ) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (27,382,328 ) | (20,978,581 ) |
Advisor Class | (12,801,510 ) | (10,698,456 ) |
Class C | (795,301 ) | (389,030 ) |
Institutional Class | (66,542,492 ) | (47,006,366 ) |
Institutional 2 Class | (14,669,979 ) | (5,384,392 ) |
Institutional 3 Class | (23,851,164 ) | (12,457,516 ) |
Class R | (295,498 ) | (181,261 ) |
Total distributions to shareholders | (146,338,272 ) | (97,095,602 ) |
Increase (decrease) in net assets from capital stock activity | 229,962,152 | (182,861,501 ) |
Total increase (decrease) in net assets | 70,018,823 | (390,853,565 ) |
Net assets at beginning of year | 2,802,797,194 | 3,193,650,759 |
Net assets at end of year | $2,872,816,017 | $2,802,797,194 |
Year Ended | Year Ended | |||
April 30, 2024 | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 2,315,300 | 68,985,562 | 2,905,622 | 89,205,065 |
Distributions reinvested | 883,294 | 26,149,928 | 658,285 | 20,098,093 |
Shares redeemed | (4,920,258 ) | (145,175,088 ) | (4,609,085 ) | (142,309,477 ) |
Net decrease | (1,721,664 ) | (50,039,598 ) | (1,045,178 ) | (33,006,319 ) |
Advisor Class | ||||
Shares sold | 2,469,900 | 73,347,755 | 2,384,891 | 73,731,809 |
Distributions reinvested | 427,160 | 12,634,006 | 340,701 | 10,402,385 |
Shares redeemed | (2,969,857 ) | (87,825,253 ) | (5,034,516 ) | (154,910,307 ) |
Net decrease | (72,797 ) | (1,843,492 ) | (2,308,924 ) | (70,776,113 ) |
Class C | ||||
Shares sold | 406,391 | 12,099,618 | 211,304 | 6,480,416 |
Distributions reinvested | 25,312 | 749,655 | 12,072 | 368,005 |
Shares redeemed | (229,637 ) | (6,788,138 ) | (186,563 ) | (5,739,939 ) |
Net increase | 202,066 | 6,061,135 | 36,813 | 1,108,482 |
Institutional Class | ||||
Shares sold | 19,075,781 | 566,506,785 | 18,265,651 | 562,848,690 |
Distributions reinvested | 2,137,032 | 63,331,686 | 1,436,661 | 43,885,983 |
Shares redeemed | (20,245,504 ) | (600,466,233 ) | (22,689,272 ) | (693,946,716 ) |
Net increase (decrease) | 967,309 | 29,372,238 | (2,986,960 ) | (87,212,043 ) |
Institutional 2 Class | ||||
Shares sold | 4,898,129 | 144,326,742 | 7,214,082 | 220,022,628 |
Distributions reinvested | 495,438 | 14,667,767 | 175,765 | 5,378,164 |
Shares redeemed | (3,736,034 ) | (109,921,954 ) | (4,822,569 ) | (151,546,763 ) |
Net increase | 1,657,533 | 49,072,555 | 2,567,278 | 73,854,029 |
Institutional 3 Class | ||||
Shares sold | 13,734,165 | 412,830,931 | 5,350,071 | 164,475,815 |
Distributions reinvested | 560,666 | 16,623,367 | 222,256 | 6,795,490 |
Shares redeemed | (7,915,026 ) | (234,313,810 ) | (7,719,233 ) | (237,241,565 ) |
Net increase (decrease) | 6,379,805 | 195,140,488 | (2,146,906 ) | (65,970,260 ) |
Class R | ||||
Shares sold | 111,026 | 3,290,152 | 28,342 | 869,254 |
Distributions reinvested | 9,917 | 293,567 | 5,849 | 178,470 |
Shares redeemed | (47,303 ) | (1,384,893 ) | (62,951 ) | (1,907,001 ) |
Net increase (decrease) | 73,640 | 2,198,826 | (28,760 ) | (859,277 ) |
Total net increase (decrease) | 7,485,892 | 229,962,152 | (5,912,637 ) | (182,861,501 ) |
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 4/30/2024 | $30.70 | 1.46 | (1.67 ) | (0.21 ) | (1.41 ) | — | (1.41 ) |
Year Ended 4/30/2023 | $32.85 | 1.24 | (2.34 ) | (1.10 ) | (1.05 ) | — | (1.05 ) |
Year Ended 4/30/2022 | $37.76 | 0.91 | (4.87 ) | (3.96 ) | (0.87 ) | (0.08 ) | (0.95 ) |
Year Ended 4/30/2021(e) | $36.96 | 1.16 | 2.64 | 3.80 | (1.13 ) | (1.87 ) | (3.00 ) |
Year Ended 4/30/2020(e) | $36.19 | 1.12 | 1.17 | 2.29 | (1.04 ) | (0.48 ) | (1.52 ) |
Advisor Class | |||||||
Year Ended 4/30/2024 | $30.66 | 1.54 | (1.68 ) | (0.14 ) | (1.48 ) | — | (1.48 ) |
Year Ended 4/30/2023 | $32.81 | 1.30 | (2.32 ) | (1.02 ) | (1.13 ) | — | (1.13 ) |
Year Ended 4/30/2022 | $37.71 | 0.98 | (4.84 ) | (3.86 ) | (0.96 ) | (0.08 ) | (1.04 ) |
Year Ended 4/30/2021(e) | $36.91 | 1.26 | 2.64 | 3.90 | (1.23 ) | (1.87 ) | (3.10 ) |
Year Ended 4/30/2020(e) | $36.16 | 1.20 | 1.15 | 2.35 | (1.12 ) | (0.48 ) | (1.60 ) |
Class C | |||||||
Year Ended 4/30/2024 | $30.70 | 1.24 | (1.67 ) | (0.43 ) | (1.19 ) | — | (1.19 ) |
Year Ended 4/30/2023 | $32.85 | 1.01 | (2.34 ) | (1.33 ) | (0.82 ) | — | (0.82 ) |
Year Ended 4/30/2022 | $37.77 | 0.64 | (4.89 ) | (4.25 ) | (0.59 ) | (0.08 ) | (0.67 ) |
Year Ended 4/30/2021(e) | $36.96 | 0.87 | 2.65 | 3.52 | (0.84 ) | (1.87 ) | (2.71 ) |
Year Ended 4/30/2020(e) | $36.19 | 0.84 | 1.17 | 2.01 | (0.76 ) | (0.48 ) | (1.24 ) |
Institutional Class | |||||||
Year Ended 4/30/2024 | $30.72 | 1.54 | (1.68 ) | (0.14 ) | (1.48 ) | — | (1.48 ) |
Year Ended 4/30/2023 | $32.87 | 1.31 | (2.33 ) | (1.02 ) | (1.13 ) | — | (1.13 ) |
Year Ended 4/30/2022 | $37.78 | 1.01 | (4.87 ) | (3.86 ) | (0.97 ) | (0.08 ) | (1.05 ) |
Year Ended 4/30/2021(e) | $36.98 | 1.26 | 2.64 | 3.90 | (1.23 ) | (1.87 ) | (3.10 ) |
Year Ended 4/30/2020(e) | $36.21 | 1.24 | 1.13 | 2.37 | (1.12 ) | (0.48 ) | (1.60 ) |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $30.66 | 1.56 | (1.68 ) | (0.12 ) | (1.50 ) | — | (1.50 ) |
Year Ended 4/30/2023 | $32.81 | 1.35 | (2.35 ) | (1.00 ) | (1.15 ) | — | (1.15 ) |
Year Ended 4/30/2022 | $37.71 | 1.03 | (4.86 ) | (3.83 ) | (0.99 ) | (0.08 ) | (1.07 ) |
Year Ended 4/30/2021(e) | $36.91 | 1.28 | 2.64 | 3.92 | (1.25 ) | (1.87 ) | (3.12 ) |
Year Ended 4/30/2020(e) | $36.15 | 1.24 | 1.16 | 2.40 | (1.16 ) | (0.48 ) | (1.64 ) |
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 4/30/2024 | $29.08 | (0.67% ) | 0.88% (c) | 0.74% (c),(d) | 4.91% | 261% | $538,729 |
Year Ended 4/30/2023 | $30.70 | (3.27% ) | 0.90% (c) | 0.75% (c),(d) | 4.02% | 247% | $621,570 |
Year Ended 4/30/2022 | $32.85 | (10.72% ) | 0.87% (c) | 0.74% (c),(d) | 2.48% | 173% | $699,471 |
Year Ended 4/30/2021 (e) | $37.76 | 10.36% | 0.88% (c) | 0.74% (c),(d) | 3.00% | 295% | $786,976 |
Year Ended 4/30/2020 (e) | $36.96 | 6.34% | 0.90% (c) | 0.74% (c),(d) | 3.05% | 272% | $694,852 |
Advisor Class | |||||||
Year Ended 4/30/2024 | $29.04 | (0.43% ) | 0.63% (c) | 0.49% (c),(d) | 5.16% | 261% | $248,402 |
Year Ended 4/30/2023 | $30.66 | (3.04% ) | 0.64% (c) | 0.50% (c),(d) | 4.24% | 247% | $264,456 |
Year Ended 4/30/2022 | $32.81 | (10.49% ) | 0.62% (c) | 0.49% (c),(d) | 2.69% | 173% | $358,749 |
Year Ended 4/30/2021 (e) | $37.71 | 10.62% | 0.63% (c) | 0.49% (c),(d) | 3.27% | 295% | $159,565 |
Year Ended 4/30/2020 (e) | $36.91 | 6.61% | 0.65% (c) | 0.49% (c),(d) | 3.32% | 272% | $93,369 |
Class C | |||||||
Year Ended 4/30/2024 | $29.08 | (1.42% ) | 1.64% (c) | 1.49% (c),(d) | 4.16% | 261% | $21,438 |
Year Ended 4/30/2023 | $30.70 | (3.99% ) | 1.65% (c) | 1.50% (c),(d) | 3.28% | 247% | $16,428 |
Year Ended 4/30/2022 | $32.85 | (11.42% ) | 1.62% (c) | 1.49% (c),(d) | 1.73% | 173% | $16,370 |
Year Ended 4/30/2021 (e) | $37.77 | 9.57% | 1.63% (c) | 1.49% (c),(d) | 2.25% | 295% | $20,492 |
Year Ended 4/30/2020 (e) | $36.96 | 5.55% | 1.65% (c) | 1.50% (c),(d) | 2.30% | 272% | $20,696 |
Institutional Class | |||||||
Year Ended 4/30/2024 | $29.10 | (0.42% ) | 0.63% (c) | 0.49% (c),(d) | 5.16% | 261% | $1,267,197 |
Year Ended 4/30/2023 | $30.72 | (3.02% ) | 0.65% (c) | 0.50% (c),(d) | 4.26% | 247% | $1,307,981 |
Year Ended 4/30/2022 | $32.87 | (10.49% ) | 0.62% (c) | 0.49% (c),(d) | 2.75% | 173% | $1,497,858 |
Year Ended 4/30/2021 (e) | $37.78 | 10.70% | 0.63% (c) | 0.49% (c),(d) | 3.26% | 295% | $1,062,540 |
Year Ended 4/30/2020 (e) | $36.98 | 6.61% | 0.65% (c) | 0.49% (c),(d) | 3.30% | 272% | $710,558 |
Institutional 2 Class | |||||||
Year Ended 4/30/2024 | $29.04 | (0.36% ) | 0.57% (c) | 0.42% (c) | 5.23% | 261% | $307,789 |
Year Ended 4/30/2023 | $30.66 | (2.96% ) | 0.57% (c) | 0.42% (c) | 4.40% | 247% | $274,094 |
Year Ended 4/30/2022 | $32.81 | (10.43% ) | 0.55% (c) | 0.42% (c) | 2.80% | 173% | $209,091 |
Year Ended 4/30/2021 (e) | $37.71 | 10.69% | 0.57% (c) | 0.43% (c) | 3.33% | 295% | $155,945 |
Year Ended 4/30/2020 (e) | $36.91 | 6.69% | 0.57% (c) | 0.42% (c) | 3.38% | 272% | $84,295 |
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 4/30/2024 | $30.72 | 1.58 | (1.68 ) | (0.10 ) | (1.52 ) | — | (1.52 ) |
Year Ended 4/30/2023 | $32.87 | 1.35 | (2.33 ) | (0.98 ) | (1.17 ) | — | (1.17 ) |
Year Ended 4/30/2022 | $37.79 | 1.05 | (4.88 ) | (3.83 ) | (1.01 ) | (0.08 ) | (1.09 ) |
Year Ended 4/30/2021(e) | $36.98 | 1.29 | 2.66 | 3.95 | (1.27 ) | (1.87 ) | (3.14 ) |
Year Ended 4/30/2020(e) | $36.21 | 1.24 | 1.17 | 2.41 | (1.16 ) | (0.48 ) | (1.64 ) |
Class R | |||||||
Year Ended 4/30/2024 | $30.71 | 1.39 | (1.68 ) | (0.29 ) | (1.33 ) | — | (1.33 ) |
Year Ended 4/30/2023 | $32.87 | 1.15 | (2.33 ) | (1.18 ) | (0.98 ) | — | (0.98 ) |
Year Ended 4/30/2022 | $37.78 | 0.82 | (4.87 ) | (4.05 ) | (0.78 ) | (0.08 ) | (0.86 ) |
Year Ended 4/30/2021(e) | $36.97 | 1.06 | 2.66 | 3.72 | (1.04 ) | (1.87 ) | (2.91 ) |
Year Ended 4/30/2020(e) | $36.20 | 1.04 | 1.17 | 2.21 | (0.96 ) | (0.48 ) | (1.44 ) |
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. For the periods indicated below, if interest on collateral expense had been excluded, expenses would have been lower by: |
Class | 4/30/2024 | 4/30/2023 | 4/30/2022 | 4/30/2021 | 4/30/2020 |
Class A | 0.01% | 0.01% | less than 0.01% | less than 0.01% | less than 0.01% |
Advisor Class | 0.01% | 0.01% | less than 0.01% | less than 0.01% | less than 0.01% |
Class C | 0.01% | 0.01% | less than 0.01% | less than 0.01% | less than 0.01% |
Institutional Class | 0.01% | 0.01% | less than 0.01% | less than 0.01% | less than 0.01% |
Institutional 2 Class | 0.01% | 0.01% | less than 0.01% | less than 0.01% | less than 0.01% |
Institutional 3 Class | 0.01% | 0.01% | less than 0.01% | less than 0.01% | less than 0.01% |
Class R | 0.01% | 0.01% | less than 0.01% | less than 0.01% | less than 0.01% |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
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 4/30/2024 | $29.10 | (0.31% ) | 0.52% (c) | 0.38% (c) | 5.28% | 261% | $482,334 |
Year Ended 4/30/2023 | $30.72 | (2.90% ) | 0.52% (c) | 0.37% (c) | 4.38% | 247% | $313,215 |
Year Ended 4/30/2022 | $32.87 | (10.41% ) | 0.50% (c) | 0.37% (c) | 2.85% | 173% | $405,759 |
Year Ended 4/30/2021 (e) | $37.79 | 10.73% | 0.52% (c) | 0.38% (c) | 3.32% | 295% | $354,336 |
Year Ended 4/30/2020 (e) | $36.98 | 6.86% | 0.53% (c) | 0.37% (c) | 3.42% | 272% | $525,287 |
Class R | |||||||
Year Ended 4/30/2024 | $29.09 | (0.92% ) | 1.13% (c) | 0.99% (c),(d) | 4.68% | 261% | $6,928 |
Year Ended 4/30/2023 | $30.71 | (3.54% ) | 1.15% (c) | 1.00% (c),(d) | 3.75% | 247% | $5,052 |
Year Ended 4/30/2022 | $32.87 | (10.94% ) | 1.12% (c) | 0.99% (c),(d) | 2.24% | 173% | $6,352 |
Year Ended 4/30/2021 (e) | $37.78 | 10.15% | 1.13% (c) | 0.99% (c),(d) | 2.76% | 295% | $4,752 |
Year Ended 4/30/2020 (e) | $36.97 | 6.08% | 1.15% (c) | 1.00% (c),(d) | 2.79% | 272% | $2,501 |
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Credit risk | Component of total distributable earnings (loss) — unrealized appreciation on swap contracts | 2,556,337 * |
Credit risk | Upfront payments on swap contracts | 5,262,580 |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 4,764,086 * |
Interest rate risk | Investments, at value — Option contracts purchased | 10,140,040 |
Total | 22,723,043 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Credit risk | Component of total distributable earnings (loss) — unrealized depreciation on swap contracts | 2,158,654 * |
Credit risk | Upfront receipts on swap contracts | 4,040,448 |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 2,845 |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 19,109,455 * |
Total | 25,311,402 |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Option contracts purchased ($) | Option contracts written ($) | Swap contracts ($) | Total ($) |
Credit risk | — | — | — | — | (13,588,844 ) | (13,588,844 ) |
Foreign exchange risk | 177,132 | — | — | — | — | 177,132 |
Interest rate risk | — | (52,601,440 ) | (26,763,799 ) | 5,946,589 | — | (73,418,650 ) |
Total | 177,132 | (52,601,440 ) | (26,763,799 ) | 5,946,589 | (13,588,844 ) | (86,830,362 ) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Option contracts purchased ($) | Option contracts written ($) | Swap contracts ($) | Total ($) |
Credit risk | — | — | — | — | 860,954 | 860,954 |
Foreign exchange risk | 7,514 | — | — | — | — | 7,514 |
Interest rate risk | — | (28,794,945 ) | 16,108,751 | (4,376,507 ) | — | (17,062,701 ) |
Total | 7,514 | (28,794,945 ) | 16,108,751 | (4,376,507 ) | 860,954 | (16,194,233 ) |
Derivative instrument | Average notional amounts ($) |
Futures contracts — long | 1,183,248,524 |
Futures contracts — short | 591,228,054 |
Credit default swap contracts — buy protection | 193,663,485 |
Credit default swap contracts — sell protection | 32,671,196 |
Derivative instrument | Average value ($) |
Option contracts purchased | 5,115,011 |
Option contracts written | (302,881 ) |
Derivative instrument | Average unrealized appreciation ($) | Average unrealized depreciation ($) |
Forward foreign currency exchange contracts | 28,703 | (24,270 ) |
Citi ($)(a) | Citi ($)(a) | Goldman Sachs International ($) | JPMorgan ($) | Morgan Stanley ($)(a) | Morgan Stanley ($)(a) | Total ($) | |
Assets | |||||||
Centrally cleared credit default swap contracts (b) | - | - | - | - | - | 383,030 | 383,030 |
Call option contracts purchased | 1,470,363 | - | - | - | 1,699,706 | - | 3,170,069 |
Put option contracts purchased | 2,630,268 | - | 1,139,585 | - | 3,200,118 | - | 6,969,971 |
OTC credit default swap contracts (c) | - | 3,266,273 | 250,368 | 1,903,309 | 2,139,150 | - | 7,559,100 |
Total assets | 4,100,631 | 3,266,273 | 1,389,953 | 1,903,309 | 7,038,974 | 383,030 | 18,082,170 |
Liabilities | |||||||
Forward foreign currency exchange contracts | 2,845 | - | - | - | - | - | 2,845 |
OTC credit default swap contracts (c) | - | 2,385,337 | 2,339 | 2,064,616 | 1,746,810 | - | 6,199,102 |
Total liabilities | 2,845 | 2,385,337 | 2,339 | 2,064,616 | 1,746,810 | - | 6,201,947 |
Total financial and derivative net assets | 4,097,786 | 880,936 | 1,387,614 | (161,307 ) | 5,292,164 | 383,030 | 11,880,223 |
Total collateral received (pledged) (d) | 3,985,000 | 710,000 | 1,360,000 | (161,307 ) | 5,189,000 | - | 11,082,693 |
Net amount (e) | 112,786 | 170,936 | 27,614 | - | 103,164 | 383,030 | 797,530 |
(a) | Exposure can only be netted across transactions governed under the same master agreement with the same legal entity. |
(b) | Centrally cleared swaps are included within payable/receivable for variation margin in the Statement of Assets and Liabilities. |
(c) | Over-the-Counter (OTC) swap contracts are presented at market value plus periodic payments receivable (payable), which is comprised of unrealized appreciation, unrealized depreciation, upfront payments and upfront receipts. |
(d) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(e) | Represents the net amount due from/(to) counterparties in the event of default. |
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Class R | 0.12 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.50 - 1.00 (a) | 341,530 |
Class C | — | 1.00 (b) | 3,025 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2023 through August 31, 2024 | Prior to September 1, 2023 | |
Class A | 0.74 % | 0.74 % |
Advisor Class | 0.49 | 0.49 |
Class C | 1.49 | 1.49 |
Institutional Class | 0.49 | 0.49 |
Institutional 2 Class | 0.41 | 0.42 |
Institutional 3 Class | 0.37 | 0.37 |
Class R | 0.99 | 0.99 |
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(5,867,192 ) | 5,867,192 | — |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
146,338,272 | — | 146,338,272 | 97,095,602 | — | 97,095,602 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
14,887,081 | — | (578,457,817 ) | (228,363,414 ) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
3,413,949,463 | 20,365,428 | (248,728,842 ) | (228,363,414 ) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(260,593,840 ) | (317,863,977 ) | (578,457,817 ) | — |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 10,911,111 | 5.80 | 9 |
Section 163(j) Interest Dividends | |
100.00% |
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 and other relevant Board experience |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 161 | 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; former Board Member, Chase Bank International, 1993-1994 |
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 and other relevant Board experience |
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; Trustee of Gerald Rauenhorst 1982 Trusts, since 2020; 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-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 161 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (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; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; 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, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 161 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee, since 2017 and Audit Committee Chair, since November 2023); Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services company), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
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 | 161 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, January 2020-December 2023; Adjunct Professor of Finance, Bentley University January 2018-April 2023; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; 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 | 159 | Former Director, The Autism Project, March 2015-December 2021; 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 (former mutual fund complex), January 2015-December 2017 |
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 and other relevant Board experience |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | 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; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 159 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor Emeritus of Economics and Management, Bentley University, since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 161 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 |
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 | 161 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | 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 | 161 | Director, SpartanNash Company (food distributor), since November 2013 (Chair of the Board, since May 2021); Director, Aircastle Limited (aircraft leasing), since August 2006 (Chair of Audit Committee); 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 | 159 | None |
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 and other relevant Board experience |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 161 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates, January 2013-December 2015 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | 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. | 161 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 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 | 159 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. 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 | 161 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, June 2022-June 2023 |
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 and other relevant Board experience |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 | 161 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds 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, Beckman, Gallagher, Hacker and Moffett and Mses. Blatz, Carlton, Carrig, Flynn, Paglia, and Yeager serve as directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | 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. |
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009); Senior Vice President (2019); Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2024) for CFST, CFST I, CFST II, CFVIT and CFVST II | Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations, March 2022 – June 2023, Vice President, Head of North America Operations, and Co-Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. Director, Ameriprise Trust Company, since June 2023. |
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 |
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. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 - 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, TAM UK International Holdings Limited, since July 2021; formerly Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, March 2013 – December 2022 and December 2008 – December 2022, respectively; senior executive of various entities affiliated with Columbia Threadneedle Investments. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
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; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
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; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Not FDIC or NCUA Insured | No Financial Institution Guarantee | May Lose Value |
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Average annual total returns (%) (for the period ended April 30, 2024) | |||||
Inception | 1 Year | 5 Years | Life | ||
Institutional Class* | 01/03/17 | 12.34 | 5.18 | 4.48 | |
HFRX Equity Hedge Index | 8.12 | 5.26 | 4.49 | ||
Wilshire Liquid Alternative Equity Hedge Index | 12.04 | 5.35 | 4.58 | ||
MSCI World Index (Net) | 18.39 | 10.46 | 11.21 |
Portfolio breakdown — long positions (%) (at April 30, 2024) | |
Common Stocks | 83.9 |
Exchange-Traded Equity Funds | 21.1 |
Preferred Stocks | 0.4 |
Warrants | 0.0 |
Money Market Funds(a) | 23.0 |
Total | 128.4 |
(a) | Includes investments in Money Market Funds, including investing for the purpose of covering obligations relating to the Fund’s investment in derivatives. For a description of the Fund’s investments in derivatives, see Investments in derivatives following the Portfolio of Investments and the derivative instruments discussion in Note 2 to the Notes to Financial Statements. |
Portfolio breakdown — short positions (%) (at April 30, 2024) | |
Common Stocks | (28.4 ) |
Preferred Stocks | (0.0 )(a) |
Warrants | (0.0 )(a) |
Total | (28.4 ) |
(a) | Rounds to zero. |
Equity sector breakdown — long positions (%) (at April 30, 2024) | |
Communication Services | 7.0 |
Consumer Discretionary | 8.9 |
Consumer Staples | 6.8 |
Energy | 5.4 |
Financials | 16.9 |
Health Care | 12.2 |
Industrials | 17.6 |
Information Technology | 13.4 |
Materials | 4.3 |
Real Estate | 2.5 |
Utilities | 5.0 |
Total | 100.0 |
Equity sector breakdown — short positions (%) (at April 30, 2024) | |
Communication Services | (7.9 ) |
Consumer Discretionary | (14.7 ) |
Consumer Staples | (5.0 ) |
Energy | (5.5 ) |
Financials | (18.5 ) |
Health Care | (13.6 ) |
Industrials | (14.6 ) |
Information Technology | (7.1 ) |
Materials | (8.1 ) |
Real Estate | (4.6 ) |
Utilities | (0.4 ) |
Total | (100.0 ) |
November 1, 2023 — April 30, 2024 | |||||||
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 | |
Institutional Class | 1,000.00 | 1,000.00 | 1,116.50 | 1,015.07 | 10.37 | 9.87 | 1.97 |
Common Stocks 66.1% | ||
Issuer | Shares | Value ($) |
Communication Services 4.6% | ||
Diversified Telecommunication Services 0.3% | ||
AT&T, Inc.(a) | 16,036 | 270,848 |
BT Group PLC | 70,407 | 90,037 |
Cogeco Communications, Inc. | 1,900 | 75,315 |
Deutsche Telekom AG, Registered Shares | 16,554 | 379,179 |
Total | 815,379 | |
Entertainment 0.5% | ||
Electronic Arts, Inc.(a) | 766 | 97,144 |
Live Nation Entertainment, Inc.(a),(b) | 6,120 | 544,129 |
Take-Two Interactive Software, Inc.(b) | 3,713 | 530,254 |
Vivid Seats, Inc., Class A(b) | 33,549 | 176,468 |
Total | 1,347,995 | |
Interactive Media & Services 2.3% | ||
Alphabet, Inc., Class A(a),(b) | 16,946 | 2,758,470 |
Alphabet, Inc., Class C(a),(b) | 9,449 | 1,555,683 |
Cars.com, Inc.(b) | 26,275 | 439,055 |
Match Group, Inc.(b) | 9,918 | 305,673 |
Meta Platforms, Inc., Class A(a) | 2,565 | 1,103,386 |
Total | 6,162,267 | |
Media 0.9% | ||
AMC Networks, Inc., Class A(a),(b) | 15,672 | 166,437 |
Charter Communications, Inc., Class A(a),(b) | 648 | 165,849 |
Comcast Corp., Class A(a) | 31,644 | 1,205,953 |
Informa PLC | 63,161 | 625,287 |
Omnicom Group, Inc. | 4,440 | 412,209 |
Total | 2,575,735 | |
Wireless Telecommunication Services 0.6% | ||
T-Mobile US, Inc.(a) | 4,846 | 795,568 |
Vodafone Group PLC | 1,185,236 | 999,513 |
Total | 1,795,081 | |
Total Communication Services | 12,696,457 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Consumer Discretionary 5.6% | ||
Automobiles 0.1% | ||
Ford Motor Co.(a) | 6,785 | 82,438 |
Stellantis NV | 12,003 | 265,584 |
Total | 348,022 | |
Broadline Retail 0.5% | ||
Amazon.com, Inc.(a),(b) | 1,599 | 279,825 |
eBay, Inc.(a) | 19,274 | 993,382 |
Total | 1,273,207 | |
Distributors 0.3% | ||
Genuine Parts Co.(a) | 3,423 | 538,130 |
LKQ Corp.(a) | 4,267 | 184,036 |
Total | 722,166 | |
Diversified Consumer Services 0.3% | ||
frontdoor, Inc.(b) | 27,384 | 840,415 |
Hotels, Restaurants & Leisure 2.0% | ||
Booking Holdings, Inc.(a) | 555 | 1,915,877 |
Boyd Gaming Corp. | 9,354 | 500,532 |
Entain PLC | 28,331 | 276,403 |
Flutter Entertainment PLC(b) | 2,908 | 538,733 |
Genting Singapore Ltd. | 384,500 | 256,604 |
MGM Resorts International(b) | 14,669 | 578,545 |
Restaurant Brands International, Inc. | 6,896 | 523,062 |
Wyndham Hotels & Resorts, Inc. | 6,679 | 490,973 |
Wynn Macau Ltd.(b) | 488,000 | 453,179 |
Total | 5,533,908 | |
Household Durables 1.4% | ||
Beazer Homes USA, Inc.(a),(b) | 9,883 | 277,021 |
D.R. Horton, Inc.(a) | 3,974 | 566,255 |
Dream Finders Homes, Inc., Class A(a),(b) | 11,898 | 422,379 |
Lennar Corp., Class A(a) | 4,482 | 679,561 |
Panasonic Holdings Corp. | 31,100 | 271,455 |
PulteGroup, Inc.(a) | 10,233 | 1,140,161 |
SEB SA | 678 | 80,020 |
Tempur Sealy International, Inc.(a) | 7,217 | 361,283 |
Total | 3,798,135 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Specialty Retail 0.8% | ||
AutoNation, Inc.(b) | 2,055 | 331,163 |
AutoZone, Inc.(b) | 164 | 484,850 |
Best Buy Co., Inc.(a) | 1,744 | 128,428 |
Ross Stores, Inc. | 2,268 | 293,819 |
TJX Companies, Inc. (The) | 4,805 | 452,103 |
Ulta Beauty, Inc.(b) | 1,055 | 427,106 |
Total | 2,117,469 | |
Textiles, Apparel & Luxury Goods 0.2% | ||
Crocs, Inc.(b) | 772 | 96,013 |
Deckers Outdoor Corp.(a),(b) | 472 | 386,318 |
Swatch Group AG (The), Registered Shares | 3,256 | 134,992 |
Total | 617,323 | |
Total Consumer Discretionary | 15,250,645 | |
Consumer Staples 4.5% | ||
Beverages 0.8% | ||
Coca-Cola Bottling Co. Consolidated(a) | 89 | 73,514 |
Coca-Cola Europacific Partners PLC(a) | 4,275 | 307,885 |
Constellation Brands, Inc., Class A | 1,654 | 419,223 |
Molson Coors Beverage Co., Class B(a) | 24,788 | 1,419,361 |
Total | 2,219,983 | |
Consumer Staples Distribution & Retail 1.5% | ||
Albertsons Companies, Inc., Class A | 20,612 | 420,485 |
Costco Wholesale Corp.(a) | 1,184 | 855,913 |
Empire Co., Ltd., Class A | 29,000 | 675,575 |
J. Sainsbury PLC | 104,983 | 344,363 |
Jeronimo Martins SGPS SA | 5,431 | 111,725 |
Target Corp. | 3,538 | 569,547 |
U.S. Foods Holding Corp.(a),(b) | 10,211 | 513,103 |
Walgreens Boots Alliance, Inc.(a) | 8,067 | 143,028 |
Walmart, Inc. | 9,269 | 550,115 |
Total | 4,183,854 | |
Food Products 0.8% | ||
Archer-Daniels-Midland Co.(a) | 4,620 | 271,009 |
Bunge Global SA(a) | 138 | 14,043 |
Campbell Soup Co.(a) | 12,557 | 573,981 |
JM Smucker Co. (The) | 3,997 | 459,055 |
Kraft Heinz Co. (The)(a) | 3,088 | 119,228 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Nomad Foods Ltd. | 20,651 | 372,957 |
Simply Good Foods Co. (The)(b) | 11,500 | 419,175 |
Total | 2,229,448 | |
Household Products 0.5% | ||
Central Garden & Pet Co.(a),(b) | 1,048 | 42,916 |
Clorox Co. (The)(a) | 592 | 87,539 |
Colgate-Palmolive Co.(a) | 3,167 | 291,111 |
Kimberly-Clark Corp.(a) | 6,067 | 828,327 |
Total | 1,249,893 | |
Personal Care Products 0.3% | ||
BellRing Brands, Inc.(a),(b) | 4,868 | 268,568 |
Medifast, Inc.(a) | 1,464 | 40,304 |
Unilever PLC | 8,967 | 463,870 |
Total | 772,742 | |
Tobacco 0.6% | ||
Altria Group, Inc.(a) | 20,836 | 912,825 |
Philip Morris International, Inc.(a) | 7,850 | 745,279 |
Total | 1,658,104 | |
Total Consumer Staples | 12,314,024 | |
Energy 3.6% | ||
Energy Equipment & Services 1.3% | ||
Noble Corp PLC | 6,274 | 278,440 |
NOV, Inc. | 25,350 | 468,722 |
Schlumberger NV | 18,709 | 888,303 |
Technip Energies NV | 14,002 | 329,747 |
Tidewater, Inc.(b) | 2,480 | 227,788 |
Trican Well Service Ltd. | 18,400 | 55,869 |
Vallourec SACA(b) | 29,249 | 503,573 |
Weatherford International PLC(a),(b) | 6,334 | 783,009 |
Total | 3,535,451 | |
Oil, Gas & Consumable Fuels 2.3% | ||
BP PLC, ADR | 16,907 | 655,484 |
BW LPG Ltd. | 18,154 | 263,277 |
Canadian Natural Resources Ltd. | 2,671 | 202,515 |
Cenovus Energy, Inc. | 48,727 | 1,001,827 |
Diamondback Energy, Inc. | 3,736 | 751,422 |
Dorian LPG Ltd.(a) | 4,678 | 193,295 |
Inpex Corp. | 13,500 | 202,227 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Kosmos Energy Ltd.(a),(b) | 52,126 | 295,555 |
Marathon Petroleum Corp.(a) | 4,506 | 818,830 |
MEG Energy Corp.(b) | 16,511 | 375,520 |
Parkland Fuel Corp. | 20,900 | 643,859 |
Phillips 66(a) | 6,097 | 873,151 |
Serica Energy PLC | 11,892 | 27,537 |
Total | 6,304,499 | |
Total Energy | 9,839,950 | |
Financials 11.2% | ||
Banks 5.7% | ||
AIB Group PLC | 44,155 | 228,554 |
Banca Monte dei Paschi di Siena SpA(b) | 101,371 | 488,940 |
Bank of America Corp.(a) | 33,673 | 1,246,238 |
Bank of Georgia Group PLC | 1,474 | 98,698 |
Bankinter SA | 20,891 | 165,126 |
Barclays Bank PLC | 161,616 | 407,482 |
Commerzbank AG | 12,112 | 180,010 |
Customers Bancorp, Inc.(a),(b) | 544 | 24,844 |
Danske Bank A/S | 53,179 | 1,530,864 |
East West Bancorp, Inc.(a) | 8,733 | 650,521 |
Fifth Third Bancorp(a) | 13,806 | 503,367 |
First Citizens BancShares Inc., Class A(a) | 544 | 917,597 |
Hana Financial Group, Inc. | 5,597 | 236,064 |
HSBC Holdings PLC | 47,544 | 412,109 |
Huntington Bancshares, Inc.(a) | 58,661 | 790,164 |
ING Groep NV | 37,030 | 585,454 |
JPMorgan Chase & Co.(a) | 9,560 | 1,833,034 |
Metropolitan Bank Holding Corp.(a),(b) | 436 | 17,309 |
Mizuho Financial Group, Inc. | 33,700 | 651,391 |
NatWest Group PLC | 83,307 | 314,433 |
Nordea Bank | 1,343 | 15,738 |
Nordea Bank Abp | 44,513 | 517,429 |
Standard Chartered PLC | 133,361 | 1,145,776 |
Sumitomo Mitsui Financial Group, Inc. | 4,000 | 227,215 |
Tokyo Kiraboshi Financial Group, Inc. | 13,500 | 400,730 |
United Overseas Bank Ltd. | 12,300 | 272,947 |
Wells Fargo & Co.(a) | 29,127 | 1,727,814 |
Total | 15,589,848 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Capital Markets 1.1% | ||
Bank of New York Mellon Corp. (The)(a) | 15,441 | 872,262 |
Charles Schwab Corp. (The) | 3,843 | 284,190 |
Deutsche Bank AG, Registered Shares | 11,745 | 187,597 |
Evercore, Inc., Class A(a) | 1,658 | 300,927 |
Franklin Resources, Inc.(a) | 4,334 | 98,988 |
Goldman Sachs Group, Inc. (The) | 578 | 246,638 |
LPL Financial Holdings, Inc. | 867 | 233,336 |
Morgan Stanley | 6,414 | 582,648 |
Total | 2,806,586 | |
Consumer Finance 0.6% | ||
American Express Co. | 2,437 | 570,331 |
Discover Financial Services | 5,614 | 711,462 |
SLM Corp.(a) | 12,082 | 256,018 |
Synchrony Financial(a) | 2,654 | 116,723 |
Total | 1,654,534 | |
Financial Services 1.3% | ||
A-Mark Precious Metals, Inc.(a) | 13,087 | 524,396 |
Berkshire Hathaway, Inc., Class B(a),(b) | 1,916 | 760,135 |
Corebridge Financial, Inc.(a) | 26,778 | 711,224 |
Corpay, Inc.(b) | 880 | 265,883 |
EXOR NV | 1,709 | 186,581 |
Fidelity National Information Services, Inc. | 3,321 | 225,562 |
Fiserv, Inc.(b) | 1,561 | 238,318 |
Global Payments, Inc.(a) | 2,000 | 245,540 |
Helia Group Ltd. | 95,569 | 245,301 |
Voya Financial, Inc. | 3,041 | 207,275 |
Total | 3,610,215 | |
Insurance 2.5% | ||
Aon PLC, Class A | 2,203 | 621,268 |
Arthur J Gallagher & Co. | 1,807 | 424,085 |
Beazley PLC | 43,777 | 362,201 |
BRP Group, Inc., Class A(b) | 7,509 | 200,040 |
Chubb Ltd. | 2,134 | 530,598 |
Everest Group Ltd. | 1,453 | 532,394 |
Fairfax Financial Holdings Ltd. | 500 | 543,606 |
First American Financial Corp. | 4,456 | 238,708 |
Great-West Lifeco, Inc. | 11,600 | 343,033 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
James River Group Holdings Ltd.(a) | 13,372 | 118,877 |
Markel Group, Inc.(b) | 314 | 457,937 |
Power Corp. of Canada | 18,900 | 503,579 |
Progressive Corp. (The) | 3,320 | 691,390 |
RenaissanceRe Holdings Ltd. | 2,125 | 465,906 |
Travelers Companies, Inc. (The) | 1,663 | 352,822 |
White Mountains Insurance Group Ltd. | 173 | 307,618 |
WR Berkley Corp. | 2,187 | 168,333 |
Total | 6,862,395 | |
Total Financials | 30,523,578 | |
Health Care 8.1% | ||
Biotechnology 1.3% | ||
AbbVie, Inc.(a) | 7,828 | 1,273,146 |
Alkermes PLC(a),(b) | 572 | 14,037 |
Amgen, Inc.(a) | 3,029 | 829,764 |
Gilead Sciences, Inc.(a) | 6,197 | 404,045 |
Incyte Corp.(a),(b) | 18,084 | 941,272 |
Roivant Sciences Ltd.(a),(b) | 6,999 | 76,289 |
United Therapeutics Corp.(a),(b) | 324 | 75,923 |
Total | 3,614,476 | |
Health Care Equipment & Supplies 0.7% | ||
Abbott Laboratories(a) | 7,523 | 797,213 |
Becton Dickinson & Co.(a) | 207 | 48,562 |
Boston Scientific Corp.(b) | 3,861 | 277,490 |
GE HealthCare Technologies, Inc.(a) | 297 | 22,643 |
Medtronic PLC(a) | 2,697 | 216,407 |
OraSure Technologies, Inc.(a),(b) | 17,059 | 90,242 |
Solventum Corp.(a),(b) | 124 | 8,061 |
Stryker Corp. | 281 | 94,557 |
Zimmer Biomet Holdings, Inc. | 3,370 | 405,344 |
Total | 1,960,519 | |
Health Care Providers & Services 4.1% | ||
AMN Healthcare Services, Inc.(b) | 5,431 | 325,751 |
Cardinal Health, Inc.(a) | 13,968 | 1,439,263 |
Cencora, Inc.(a) | 4,483 | 1,071,661 |
Centene Corp.(a),(b) | 21,286 | 1,555,155 |
Cigna Group (The)(a) | 1,558 | 556,268 |
CVS Health Corp.(a) | 12,514 | 847,323 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Elevance Health, Inc.(a) | 1,502 | 793,927 |
HCA Healthcare, Inc. | 1,148 | 355,673 |
Henry Schein, Inc.(b) | 1,996 | 138,283 |
Humana, Inc. | 1,116 | 337,133 |
McKesson Corp. | 1,040 | 558,699 |
Molina Healthcare, Inc.(a),(b) | 4,193 | 1,434,425 |
R1 RCM, Inc.(b) | 7,155 | 87,935 |
UnitedHealth Group, Inc. | 3,306 | 1,599,112 |
Total | 11,100,608 | |
Life Sciences Tools & Services 0.5% | ||
Avantor, Inc.(a),(b) | 10,965 | 265,682 |
Fortrea Holdings, Inc.(b) | 13,239 | 484,415 |
ICON PLC(b) | 1,440 | 428,947 |
IQVIA Holdings, Inc.(b) | 468 | 108,468 |
Thermo Fisher Scientific, Inc. | 123 | 69,953 |
Total | 1,357,465 | |
Pharmaceuticals 1.5% | ||
Amphastar Pharmaceuticals, Inc.(a),(b) | 2,895 | 119,419 |
AstraZeneca PLC | 3,005 | 454,503 |
Bristol-Myers Squibb Co.(a) | 17,927 | 787,712 |
Johnson & Johnson | 2,920 | 422,203 |
Merck & Co., Inc. | 559 | 72,234 |
Novo Nordisk A/S | 8,394 | 1,076,466 |
Pfizer, Inc. | 706 | 18,088 |
Sanofi SA | 2,911 | 287,586 |
Viatris, Inc.(a) | 65,929 | 762,799 |
Total | 4,001,010 | |
Total Health Care | 22,034,078 | |
Industrials 11.7% | ||
Aerospace & Defense 1.7% | ||
AAR Corp.(b) | 8,340 | 576,628 |
Airbus Group SE | 3,174 | 522,306 |
Boeing Co. (The)(a),(b) | 2,165 | 363,374 |
Curtiss-Wright Corp. | 2,342 | 593,510 |
Embraer SA, ADR(b) | 15,782 | 403,230 |
General Dynamics Corp. | 1,313 | 376,949 |
Howmet Aerospace, Inc.(a) | 10,376 | 692,598 |
Huntington Ingalls Industries, Inc.(a) | 1,187 | 328,716 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Lockheed Martin Corp.(a) | 782 | 363,575 |
Textron, Inc. | 4,860 | 411,107 |
Total | 4,631,993 | |
Air Freight & Logistics 0.1% | ||
FedEx Corp.(a) | 898 | 235,078 |
Building Products 1.7% | ||
Advanced Drainage Systems, Inc. | 3,884 | 609,788 |
Allegion PLC | 3,460 | 420,598 |
Builders FirstSource, Inc.(a),(b) | 6,368 | 1,164,198 |
Carlisle Companies, Inc. | 639 | 248,092 |
Masco Corp.(a) | 19,652 | 1,345,179 |
Owens Corning(a) | 4,781 | 804,212 |
Total | 4,592,067 | |
Commercial Services & Supplies 0.4% | ||
Brink’s Co. (The) | 5,220 | 456,541 |
Clean Harbors, Inc.(b) | 3,713 | 703,428 |
Intrum Justitia AB | 11,808 | 27,621 |
Total | 1,187,590 | |
Construction & Engineering 0.3% | ||
Eiffage SA | 3,669 | 391,477 |
Valmont Industries, Inc. | 961 | 196,813 |
WillScot Mobile Mini Holdings Corp.(b) | 8,764 | 323,917 |
Total | 912,207 | |
Electrical Equipment 1.1% | ||
Acuity Brands, Inc. | 1,603 | 398,025 |
AMETEK, Inc. | 3,024 | 528,172 |
Atkore, Inc. | 3,027 | 530,633 |
Eaton Corp. PLC | 1,554 | 494,576 |
NEXTracker, Inc., Class A(b) | 4,953 | 211,939 |
nVent Electric PLC | 3,819 | 275,235 |
Powell Industries, Inc.(a) | 2,264 | 323,752 |
Sensata Technologies Holding | 3,114 | 119,297 |
Total | 2,881,629 | |
Ground Transportation 0.1% | ||
Norfolk Southern Corp. | 1,608 | 370,355 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Industrial Conglomerates 1.1% | ||
CK Hutchison Holdings Ltd. | 296,000 | 1,437,606 |
Honeywell International, Inc. | 2,159 | 416,104 |
Jardine Cycle & Carriage Ltd. | 16,300 | 314,561 |
Jardine Matheson Holdings Ltd. | 3,100 | 118,947 |
Siemens AG, Registered Shares | 3,130 | 586,354 |
Total | 2,873,572 | |
Machinery 2.2% | ||
Allison Transmission Holdings, Inc. | 8,385 | 616,717 |
Andritz AG | 6,711 | 366,310 |
Atmus Filtration Technologies, Inc.(b) | 7,163 | 216,967 |
CNH Industrial NV(a),(b) | 10,222 | 116,531 |
Daimler Truck Holding AG | 826 | 37,250 |
Dover Corp. | 2,770 | 496,661 |
Fortive Corp. | 4,205 | 316,510 |
Hitachi Construction Machine Co., Ltd. | 14,500 | 414,153 |
Hyster-Yale Materials Handling, Inc.(a) | 302 | 17,688 |
Otis Worldwide Corp.(a) | 15,464 | 1,410,317 |
PACCAR, Inc.(a) | 2,026 | 214,979 |
Parker-Hannifin Corp. | 546 | 297,521 |
REV Group, Inc.(a) | 20,612 | 450,578 |
Volvo AB | 6,817 | 179,534 |
Volvo AB, B Shares | 3,462 | 88,119 |
Westinghouse Air Brake Technologies Corp.(a) | 3,884 | 625,635 |
Total | 5,865,470 | |
Marine Transportation 0.5% | ||
Nippon Yusen KK | 44,600 | 1,266,215 |
Wilh Wilhelmsen ASA | 8,140 | 81,990 |
Total | 1,348,205 | |
Passenger Airlines 0.0% | ||
Ryanair Holdings PLC, ADR | 900 | 122,580 |
Professional Services 1.7% | ||
Adecco Group AG, Registered Shares | 18,558 | 649,205 |
Equifax, Inc. | 1,545 | 340,194 |
Huron Consulting Group, Inc.(b) | 4,042 | 376,876 |
Jacobs Solutions, Inc. | 4,200 | 602,826 |
Leidos Holdings, Inc. | 3,084 | 432,438 |
Science Applications International Corp. | 3,467 | 446,203 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
SS&C Technologies Holdings, Inc. | 9,361 | 579,352 |
Teleperformance SE(b) | 8,343 | 755,748 |
TriNet Group, Inc. | 3,341 | 335,336 |
Total | 4,518,178 | |
Trading Companies & Distributors 0.8% | ||
Beacon Roofing Supply, Inc.(b) | 6,179 | 608,817 |
Ferguson PLC(a) | 2,209 | 463,669 |
Toyota Tsusho Corp. | 12,800 | 813,823 |
WESCO International, Inc.(a) | 2,732 | 417,313 |
Total | 2,303,622 | |
Total Industrials | 31,842,546 | |
Information Technology 8.9% | ||
Communications Equipment 0.4% | ||
Arista Networks, Inc.(a),(b) | 444 | 113,913 |
Cisco Systems, Inc.(a) | 19,789 | 929,687 |
InterDigital, Inc. | 2,328 | 229,843 |
Total | 1,273,443 | |
Electronic Equipment, Instruments & Components 1.5% | ||
Arrow Electronics, Inc.(a),(b) | 1,595 | 203,634 |
CDW Corp.(a) | 1,742 | 421,320 |
Celestica, Inc.(b) | 8,519 | 369,128 |
Flex Ltd.(b) | 28,436 | 814,692 |
Jabil, Inc.(a) | 11,926 | 1,399,635 |
Keysight Technologies, Inc.(b) | 1,981 | 293,069 |
Zebra Technologies Corp., Class A(b) | 1,702 | 535,381 |
Total | 4,036,859 | |
IT Services 0.4% | ||
Capgemini SE | 2,990 | 628,441 |
Cognizant Technology Solutions Corp., Class A | 4,442 | 291,751 |
International Business Machines Corp.(a) | 791 | 131,464 |
Total | 1,051,656 | |
Semiconductors & Semiconductor Equipment 3.1% | ||
Advanced Micro Devices, Inc.(b) | 4,389 | 695,130 |
ams-OSRAM AG(b) | 180,415 | 216,689 |
Applied Materials, Inc. | 3,305 | 656,538 |
Broadcom, Inc.(a) | 1,329 | 1,728,059 |
Lam Research Corp. | 788 | 704,795 |
Microchip Technology, Inc. | 6,137 | 564,481 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Micron Technology, Inc. | 5,554 | 627,380 |
NVIDIA Corp.(a) | 1,907 | 1,647,686 |
NXP Semiconductors NV | 1,358 | 347,906 |
Photronics, Inc.(a),(b) | 14,393 | 394,512 |
QUALCOMM, Inc.(a) | 1,232 | 204,327 |
SCREEN Holdings Co., Ltd. | 3,600 | 371,438 |
Teradyne, Inc. | 1,933 | 224,847 |
Total | 8,383,788 | |
Software 2.3% | ||
Adeia, Inc. | 52,733 | 518,893 |
Adobe, Inc.(a),(b) | 1,490 | 689,617 |
Check Point Software Technologies Ltd.(b) | 4,699 | 702,124 |
Consensus Cloud Solutions, Inc.(a),(b) | 11,234 | 130,764 |
Dropbox, Inc., Class A(a),(b) | 25,189 | 583,377 |
Gen Digital, Inc.(a) | 26,525 | 534,213 |
Microsoft Corp.(a) | 3,272 | 1,273,888 |
NiCE Ltd., ADR(b) | 2,924 | 653,543 |
Oracle Corp.(a) | 6,426 | 730,957 |
Palo Alto Networks, Inc.(a),(b) | 294 | 85,522 |
Zscaler, Inc.(a),(b) | 1,886 | 326,165 |
Total | 6,229,063 | |
Technology Hardware, Storage & Peripherals 1.2% | ||
Apple, Inc.(a) | 5,897 | 1,004,436 |
Dell Technologies, Inc. | 12,083 | 1,506,025 |
NetApp, Inc. | 1,806 | 184,592 |
Samsung Electronics Co., Ltd. | 10,714 | 595,555 |
Xerox Holdings Corp.(a) | 941 | 12,506 |
Total | 3,303,114 | |
Total Information Technology | 24,277,923 | |
Materials 2.9% | ||
Chemicals 0.5% | ||
DuPont de Nemours, Inc.(a) | 3,296 | 238,960 |
FMC Corp. | 7,914 | 467,005 |
Olin Corp. | 5,922 | 309,602 |
PPG Industries, Inc. | 1,935 | 249,615 |
Total | 1,265,182 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Construction Materials 0.7% | ||
CRH PLC | 6,117 | 473,578 |
Heidelberg Materials AG | 13,494 | 1,357,977 |
Total | 1,831,555 | |
Metals & Mining 1.7% | ||
Dundee Precious Metals, Inc. | 4,000 | 30,276 |
Fortescue Ltd. | 86,361 | 1,431,386 |
Hudbay Minerals, Inc. | 35,886 | 302,124 |
JFE Holdings, Inc. | 47,700 | 711,957 |
Kinross Gold Corp. | 32,239 | 207,942 |
Rio Tinto Ltd. | 19,129 | 1,591,998 |
Teck Resources Ltd., Class B | 9,093 | 447,285 |
Total | 4,722,968 | |
Total Materials | 7,819,705 | |
Real Estate 1.7% | ||
Industrial REITs 0.1% | ||
Americold Realty Trust, Inc.(a) | 9,357 | 205,573 |
Real Estate Management & Development 0.3% | ||
Swire Pacific Ltd., Class A | 89,500 | 757,950 |
Residential REITs 0.4% | ||
Equity LifeStyle Properties, Inc.(a) | 10,129 | 610,678 |
Essex Property Trust, Inc. | 1,689 | 415,916 |
Total | 1,026,594 | |
Retail REITs 0.2% | ||
Kimco Realty Corp. | 17,316 | 322,597 |
Regency Centers Corp.(a) | 4,047 | 239,663 |
Total | 562,260 | |
Specialized REITs 0.7% | ||
American Tower Corp.(a) | 3,870 | 663,937 |
Equinix, Inc.(a) | 65 | 46,222 |
Extra Space Storage, Inc. | 2,805 | 376,656 |
Lamar Advertising Co., Class A(a) | 3,145 | 364,348 |
VICI Properties, Inc.(a) | 20,371 | 581,592 |
Total | 2,032,755 | |
Total Real Estate | 4,585,132 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Utilities 3.3% | ||
Electric Utilities 2.2% | ||
American Electric Power Co., Inc.(a) | 2,382 | 204,923 |
BKW AG | 482 | 71,547 |
Chubu Electric Power Co., Inc. | 103,400 | 1,327,239 |
FirstEnergy Corp. | 11,425 | 438,035 |
Kansai Electric Power Co., Inc. (The) | 72,600 | 1,087,506 |
OGE Energy Corp. | 14,501 | 502,460 |
Origin Energy Ltd. | 25,244 | 159,325 |
PPL Corp. | 19,707 | 541,154 |
Scottish & Southern Energy PLC | 16,103 | 334,723 |
Southern Co. (The) | 6,636 | 487,746 |
Tokyo Electric Power Co. Holdings, Inc.(b) | 148,600 | 924,334 |
Total | 6,078,992 | |
Gas Utilities 0.1% | ||
New Jersey Resources Corp. | 2,831 | 123,686 |
Osaka Gas Co., Ltd. | 3,900 | 86,720 |
Total | 210,406 | |
Multi-Utilities 1.0% | ||
CenterPoint Energy, Inc. | 15,367 | 447,794 |
Centrica PLC | 776,820 | 1,240,016 |
Consolidated Edison, Inc.(a) | 992 | 93,645 |
NiSource, Inc. | 19,846 | 552,910 |
SembCorp Industries Ltd. | 111,300 | 434,969 |
Total | 2,769,334 | |
Total Utilities | 9,058,732 | |
Total Common Stocks (Cost $149,693,241) | 180,242,770 | |
Exchange-Traded Equity Funds 16.6% | ||
Shares | Value ($) | |
U.S. Large Cap 16.6% | ||
iShares Core S&P 500 ETF | 90,055 | 45,427,344 |
Total Exchange-Traded Equity Funds (Cost $40,818,887) | 45,427,344 |
Preferred Stocks 0.3% | |||
Issuer | Shares | Value ($) | |
Consumer Discretionary 0.3% | |||
Automobiles 0.3% | |||
BMW AG | 1,493 | 153,408 | |
Volkswagen AG | 5,042 | 617,671 | |
Total | 771,079 | ||
Total Consumer Discretionary | 771,079 | ||
Total Preferred Stocks (Cost $814,329) | 771,079 |
Warrants —% | ||
Issuer | Shares | Value ($) |
Information Technology —% | ||
Software —% | ||
Constellation Software, Inc.(b),(c),(d) | 100 | — |
Total Information Technology | — | |
Total Warrants (Cost $—) | — | |
Money Market Funds 18.2% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.485%(e),(f) | 49,562,764 | 49,547,895 |
Total Money Market Funds (Cost $49,543,744) | 49,547,895 | |
Total Investments (Cost $240,870,201) | 275,989,088 | |
Investments in Securities Sold Short | ||
Common Stocks (22.4)% | ||
Issuer | Shares | Value ($) |
Communication Services (1.8)% | ||
Diversified Telecommunication Services (0.1)% | ||
Globalstar, Inc.(b) | (12,138 ) | (15,658 ) |
Liberty Global Ltd., Class C(b) | (15,225 ) | (249,233 ) |
Total | (264,891 ) | |
Entertainment (0.4)% | ||
AMC Entertainment Holdings, Inc., Class A(b) | (53,227 ) | (155,955 ) |
Lions Gate Entertainment Corp.(b) | (26,962 ) | (272,047 ) |
Roblox Corp. Class A(b) | (14,862 ) | (528,493 ) |
Total | (956,495 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Interactive Media & Services (0.1)% | ||
Angi, Inc.(b) | (31,797 ) | (67,091 ) |
Rumble, Inc.(b) | (20,629 ) | (145,641 ) |
Total | (212,732 ) | |
Media (1.2)% | ||
Cable One, Inc. | (333 ) | (131,152 ) |
Clear Channel Outdoor Holdings, Inc.(b) | (233,517 ) | (324,589 ) |
Dentsu, Inc. | (32,900 ) | (890,050 ) |
Fox Corp., Class A | (6,358 ) | (197,162 ) |
Trade Desk, Inc. (The)(b) | (11,191 ) | (927,174 ) |
ViacomCBS, Inc., Class B | (11,790 ) | (134,288 ) |
WPP PLC | (80,132 ) | (803,176 ) |
Total | (3,407,591 ) | |
Total Communication Services | (4,841,709 ) | |
Consumer Discretionary (3.3)% | ||
Automobile Components (0.7)% | ||
Luminar Technologies, Inc.(b) | (94,148 ) | (138,398 ) |
Mobileye Global, Inc., Class A(b) | (6,036 ) | (166,292 ) |
Nokian Renkaat OYJ | (70,131 ) | (611,470 ) |
QuantumScape Corp.(b) | (141,131 ) | (764,930 ) |
Solid Power, Inc.(b) | (64,915 ) | (109,706 ) |
Total | (1,790,796 ) | |
Automobiles (0.6)% | ||
Rivian Automotive, Inc.(b) | (61,124 ) | (544,003 ) |
Suzuki Motor Corp. | (86,700 ) | (1,009,690 ) |
Total | (1,553,693 ) | |
Broadline Retail (0.1)% | ||
B&M European Value Retail SA | (25,689 ) | (165,786 ) |
Hotels, Restaurants & Leisure (0.8)% | ||
Accor SA | (4,303 ) | (188,582 ) |
Cheesecake Factory, Inc. (The) | (4,219 ) | (145,640 ) |
Choice Hotels International, Inc. | (2,347 ) | (277,556 ) |
Delivery Hero SE(b) | (2,016 ) | (56,403 ) |
Krispy Kreme, Inc. | (13,819 ) | (174,810 ) |
Kura Sushi USA, Inc., Class A(b) | (517 ) | (56,912 ) |
Life Time Group Holdings, Inc.(b) | (7,794 ) | (106,466 ) |
Marriott Vacations Worldwide Corp. | (1,300 ) | (124,943 ) |
Playa Hotels & Resorts NV(b) | (33,237 ) | (299,133 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Portillo’s, Inc., Class A(b) | (5,418 ) | (66,425 ) |
Sabre Corp.(b) | (71,213 ) | (204,381 ) |
SJM Holdings Ltd.(b) | (388,000 ) | (142,398 ) |
Soho House & Co., Inc., Class A(b) | (34,057 ) | (177,437 ) |
Wynn Resorts Ltd. | (3,271 ) | (299,787 ) |
Total | (2,320,873 ) | |
Household Durables (0.2)% | ||
KB Home | (4,106 ) | (265,905 ) |
LGI Homes, Inc.(b) | (4,151 ) | (373,299 ) |
Total | (639,204 ) | |
Leisure Products (0.1)% | ||
Acushnet Holdings Corp. | (3,629 ) | (221,296 ) |
Specialty Retail (0.7)% | ||
Dick’s Sporting Goods, Inc. | (2,372 ) | (476,630 ) |
Dufry AG, Registered Shares(b) | (9,114 ) | (344,663 ) |
Floor & Decor Holdings, Inc., Class A(b) | (4,761 ) | (525,281 ) |
Lowe’s Companies, Inc. | (1,051 ) | (239,618 ) |
Tractor Supply Co. | (830 ) | (226,656 ) |
Total | (1,812,848 ) | |
Textiles, Apparel & Luxury Goods (0.1)% | ||
Deckers Outdoor Corp.(b) | (272 ) | (222,624 ) |
NIKE, Inc., Class B | (1,063 ) | (98,072 ) |
Salvatore Ferragamo SpA | (6,579 ) | (65,283 ) |
Total | (385,979 ) | |
Total Consumer Discretionary | (8,890,475 ) | |
Consumer Staples (1.1)% | ||
Beverages (0.4)% | ||
Davide Campari-Milano NV | (21,138 ) | (211,989 ) |
Duckhorn Portfolio, Inc. (The)(b) | (20,108 ) | (170,315 ) |
National Beverage Corp.(b) | (8,679 ) | (386,215 ) |
Treasury Wine Estates Ltd. | (30,299 ) | (234,975 ) |
Total | (1,003,494 ) | |
Consumer Staples Distribution & Retail (0.1)% | ||
Ocado Group PLC(b) | (75,511 ) | (330,604 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Food Products (0.4)% | ||
Barry Callebaut AG, Registered Shares | (134 ) | (216,541 ) |
Freshpet, Inc.(b) | (2,481 ) | (263,160 ) |
Hormel Foods Corp. | (11,706 ) | (416,265 ) |
TreeHouse Foods, Inc.(b) | (6,862 ) | (257,668 ) |
Total | (1,153,634 ) | |
Household Products (0.2)% | ||
Kimberly-Clark Corp. | (4,089 ) | (558,271 ) |
Total Consumer Staples | (3,046,003 ) | |
Energy (1.2)% | ||
Oil, Gas & Consumable Fuels (1.2)% | ||
Antero Resources Corp.(b) | (14,371 ) | (488,758 ) |
CVR Energy, Inc. | (10,063 ) | (305,714 ) |
Matador Resources Co. | (6,967 ) | (434,044 ) |
NextDecade Corp.(b) | (58,900 ) | (378,138 ) |
Occidental Petroleum Corp. | (13,161 ) | (870,469 ) |
Permian Resources Corp. | (23,442 ) | (392,653 ) |
Targa Resources Corp. | (3,617 ) | (412,555 ) |
Tullow Oil PLC(b) | (101,467 ) | (46,024 ) |
Total | (3,328,355 ) | |
Total Energy | (3,328,355 ) | |
Financials (4.1)% | ||
Banks (2.2)% | ||
Aozora Bank Ltd. | (20,100 ) | (312,292 ) |
Bank of Hawaii Corp. | (9,942 ) | (563,612 ) |
Commerce Bancshares, Inc. | (13,451 ) | (735,501 ) |
Commonwealth Bank of Australia | (12,698 ) | (930,376 ) |
Community Bank System, Inc. | (12,636 ) | (546,128 ) |
Cullen/Frost Bankers, Inc. | (2,901 ) | (302,690 ) |
CVB Financial Corp. | (5,440 ) | (88,890 ) |
First Financial Bankshares, Inc. | (23,681 ) | (700,010 ) |
Glacier Bancorp, Inc. | (17,827 ) | (644,981 ) |
Hang Seng Bank Ltd. | (49,200 ) | (648,780 ) |
Texas Capital Bancshares, Inc.(b) | (3,837 ) | (220,244 ) |
United Bankshares, Inc. | (7,676 ) | (249,163 ) |
Total | (5,942,667 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Capital Markets (0.8)% | ||
AJ Bell PLC | (70,045 ) | (283,142 ) |
Ashmore Group PLC | (99,286 ) | (239,937 ) |
Avanza Bank Holding AB | (11,029 ) | (236,352 ) |
EQT AB | (20,806 ) | (561,333 ) |
Moelis & Co., Class A | (4,582 ) | (224,885 ) |
Moody’s Corp. | (369 ) | (136,652 ) |
T Rowe Price Group, Inc. | (5,093 ) | (558,040 ) |
Total | (2,240,341 ) | |
Consumer Finance (0.2)% | ||
Credit Acceptance Corp.(b) | (735 ) | (377,584 ) |
Upstart Holdings, Inc.(b) | (11,316 ) | (250,423 ) |
Total | (628,007 ) | |
Financial Services (0.3)% | ||
Toast, Inc. Class A(b) | (33,497 ) | (791,534 ) |
Insurance (0.6)% | ||
Cincinnati Financial Corp. | (2,446 ) | (282,978 ) |
Erie Indemnity Co., Class A | (575 ) | (220,029 ) |
Kinsale Capital Group, Inc. | (333 ) | (120,962 ) |
Legal & General Group PLC | (255,336 ) | (749,539 ) |
Lemonade, Inc.(b) | (2,903 ) | (50,019 ) |
RLI Corp. | (1,689 ) | (238,740 ) |
Trupanion, Inc.(b) | (2,747 ) | (61,808 ) |
Total | (1,724,075 ) | |
Total Financials | (11,326,624 ) | |
Health Care (3.1)% | ||
Biotechnology (1.1)% | ||
ACELYRIN, Inc.(b) | (18,467 ) | (77,192 ) |
Argenx SE(b) | (2,217 ) | (828,191 ) |
Ascendis Pharma A/S ADR(b) | (1,202 ) | (166,405 ) |
Exact Sciences Corp.(b) | (201 ) | (11,929 ) |
Legend Biotech Corp., ADR(b) | (3,149 ) | (137,737 ) |
Madrigal Pharmaceuticals, Inc.(b) | (655 ) | (133,633 ) |
Moderna, Inc.(b) | (8,083 ) | (891,636 ) |
MoonLake Immunotherapeutics(b) | (1,477 ) | (60,424 ) |
Myriad Genetics, Inc.(b) | (9,044 ) | (176,991 ) |
Recursion Pharmaceuticals, Inc., Class A(b) | (15,306 ) | (119,693 ) |
Rhythm Pharmaceuticals, Inc.(b) | (3,265 ) | (129,816 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
TG Therapeutics, Inc.(b) | (8,146 ) | (111,274 ) |
Twist Bioscience Corp.(b) | (4,081 ) | (127,450 ) |
Total | (2,972,371 ) | |
Health Care Equipment & Supplies (0.2)% | ||
Ambu A/S(b) | (7,151 ) | (114,341 ) |
Neogen Corp.(b) | (8,032 ) | (99,035 ) |
Tandem Diabetes Care, Inc.(b) | (5,932 ) | (217,645 ) |
Total | (431,021 ) | |
Health Care Providers & Services (0.4)% | ||
23andMe Holding Co., Class A(b) | (135,026 ) | (67,810 ) |
agilon Health, Inc.(b) | (19,331 ) | (106,320 ) |
Amplifon SpA | (18,015 ) | (601,455 ) |
Community Health Systems, Inc.(b) | (46,150 ) | (152,295 ) |
Guardant Health, Inc.(b) | (4,805 ) | (86,490 ) |
Privia Health Group, Inc.(b) | (7,768 ) | (142,931 ) |
Total | (1,157,301 ) | |
Health Care Technology (0.3)% | ||
Certara, Inc.(b) | (16,264 ) | (278,277 ) |
Definitive Healthcare Corp.(b) | (16,541 ) | (114,795 ) |
Doximity, Inc., Class A(b) | (4,741 ) | (115,159 ) |
GoodRx Holdings, Inc., Class A(b) | (22,811 ) | (161,958 ) |
Total | (670,189 ) | |
Life Sciences Tools & Services (0.3)% | ||
10X Genomics, Inc., Class A(b) | (3,847 ) | (112,640 ) |
Illumina, Inc.(b) | (1,078 ) | (132,648 ) |
Oxford Nanopore Technologies PLC(b) | (153,109 ) | (188,161 ) |
Sartorius Stedim Biotech | (1,796 ) | (386,799 ) |
Total | (820,248 ) | |
Pharmaceuticals (0.8)% | ||
Cassava Sciences, Inc.(b) | (7,649 ) | (169,425 ) |
Corcept Therapeutics, Inc.(b) | (4,816 ) | (112,309 ) |
Daiichi Sankyo Co., Ltd. | (21,700 ) | (730,372 ) |
Eisai Co., Ltd. | (16,700 ) | (685,853 ) |
Nippon Shinyaku Co., Ltd. | (3,600 ) | (99,613 ) |
Pliant Therapeutics, Inc.(b) | (7,966 ) | (94,158 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Revance Therapeutics, Inc.(b) | (46,106 ) | (166,443 ) |
Sumitomo Pharma Co., Ltd.(b) | (90,000 ) | (227,134 ) |
Total | (2,285,307 ) | |
Total Health Care | (8,336,437 ) | |
Industrials (3.3)% | ||
Aerospace & Defense (0.5)% | ||
Airbus Group SE | (3,601 ) | (592,572 ) |
Boeing Co. (The)(b) | (1,202 ) | (201,744 ) |
Melrose Industries PLC | (2,803 ) | (22,021 ) |
MTU Aero Engines AG | (158 ) | (38,065 ) |
Northrop Grumman Corp. | (520 ) | (252,216 ) |
Triumph Group, Inc.(b) | (22,312 ) | (298,088 ) |
Virgin Galactic Holdings, Inc.(b) | (27,935 ) | (24,306 ) |
Total | (1,429,012 ) | |
Commercial Services & Supplies (0.2)% | ||
Montrose Environmental Group, Inc.(b) | (13,954 ) | (605,883 ) |
Electrical Equipment (0.7)% | ||
Ballard Power Systems, Inc.(b) | (47,801 ) | (125,696 ) |
ChargePoint Holdings, Inc.(b) | (75,069 ) | (99,842 ) |
Enovix Corp.(b) | (6,836 ) | (42,793 ) |
Freyr Battery, Inc.(b) | (10,074 ) | (16,622 ) |
FuelCell Energy, Inc.(b) | (243,723 ) | (226,126 ) |
Furukawa Electric Co., Ltd. | (28,000 ) | (599,505 ) |
ITM Power PLC(b) | (225,806 ) | (144,368 ) |
Nidec Corp. | (8,500 ) | (398,079 ) |
PowerCell Sweden AB(b) | (15,451 ) | (37,704 ) |
Siemens Energy AG(b) | (4,495 ) | (92,298 ) |
Total | (1,783,033 ) | |
Machinery (0.8)% | ||
Husqvarna AB | (74,886 ) | (607,416 ) |
Kornit Digital Ltd.(b) | (15,688 ) | (241,752 ) |
Proto Labs, Inc.(b) | (14,635 ) | (446,075 ) |
Terex Corp. | (5,781 ) | (324,025 ) |
VAT Group AG | (1,403 ) | (698,499 ) |
Total | (2,317,767 ) | |
Passenger Airlines (0.1)% | ||
Joby Aviation, Inc.(b) | (29,451 ) | (148,728 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Professional Services (0.4)% | ||
Dayforce, Inc.(b) | (3,346 ) | (205,344 ) |
Exponent, Inc. | (4,306 ) | (395,764 ) |
ManpowerGroup, Inc. | (2,644 ) | (199,490 ) |
NV5 Global, Inc.(b) | (2,257 ) | (210,443 ) |
Total | (1,011,041 ) | |
Trading Companies & Distributors (0.4)% | ||
Beijer Ref AB | (49,941 ) | (703,837 ) |
SiteOne Landscape Supply, Inc.(b) | (2,778 ) | (435,840 ) |
Total | (1,139,677 ) | |
Transportation Infrastructure (0.2)% | ||
Atlas Arteria Ltd. | (141,441 ) | (471,060 ) |
Total Industrials | (8,906,201 ) | |
Information Technology (1.6)% | ||
Electronic Equipment, Instruments & Components (0.4)% | ||
Cognex Corp. | (10,369 ) | (430,728 ) |
MicroVision, Inc.(b) | (130,846 ) | (189,727 ) |
Novanta, Inc.(b) | (2,777 ) | (434,600 ) |
Total | (1,055,055 ) | |
IT Services (0.2)% | ||
Amdocs Ltd. | (3,450 ) | (289,765 ) |
Infosys Ltd., ADR | (11,881 ) | (198,532 ) |
MongoDB, Inc.(b) | (287 ) | (104,807 ) |
Total | (593,104 ) | |
Semiconductors & Semiconductor Equipment (0.4)% | ||
Entegris, Inc. | (6,226 ) | (827,560 ) |
Lattice Semiconductor Corp.(b) | (555 ) | (38,073 ) |
Wolfspeed, Inc.(b) | (7,730 ) | (208,942 ) |
Total | (1,074,575 ) | |
Software (0.6)% | ||
Blackline, Inc.(b) | (7,178 ) | (416,683 ) |
Jamf Holding Corp.(b) | (26,275 ) | (511,574 ) |
Palantir Technologies, Inc., Class A(b) | (9,976 ) | (219,173 ) |
Unity Software, Inc.(b) | (18,835 ) | (457,125 ) |
Total | (1,604,555 ) | |
Total Information Technology | (4,327,289 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Materials (1.8)% | ||
Chemicals (0.5)% | ||
Axalta Coating Systems Ltd.(b) | (4,167 ) | (131,011 ) |
Croda International PLC | (2,744 ) | (157,167 ) |
Ganfeng Lithium Group Co., Ltd., Class H | (51,800 ) | (151,903 ) |
Huntsman Corp. | (4,001 ) | (95,464 ) |
OCI NV | (13,544 ) | (364,287 ) |
PureCycle Technologies, Inc.(b) | (29,720 ) | (138,792 ) |
Sumitomo Chemical Co., Ltd. | (92,300 ) | (197,195 ) |
Total | (1,235,819 ) | |
Containers & Packaging (0.0)% | ||
Amcor PLC | (10,823 ) | (96,758 ) |
Metals & Mining (1.3)% | ||
Compass Minerals International, Inc. | (4,314 ) | (53,709 ) |
De Grey Mining Ltd.(b) | (299,451 ) | (249,193 ) |
Filo Corp.(b) | (25,300 ) | (453,384 ) |
First Quantum Minerals Ltd. | (53,600 ) | (680,586 ) |
Freeport-McMoRan Copper & Gold, Inc. | (6,796 ) | (339,392 ) |
Ivanhoe Mines Ltd., Class A(b) | (72,200 ) | (978,645 ) |
Lynas Rare Earths Ltd.(b) | (32,275 ) | (134,953 ) |
Mineral Resources Ltd. | (9,190 ) | (416,880 ) |
MP Materials Corp.(b) | (20,737 ) | (331,792 ) |
Total | (3,638,534 ) | |
Total Materials | (4,971,111 ) | |
Real Estate (1.0)% | ||
Diversified REITs (0.1)% | ||
Nomura Real Estate Master Fund, Inc. | (190 ) | (181,625 ) |
Industrial REITs (0.1)% | ||
Segro PLC | (16,889 ) | (177,641 ) |
Office REITs (0.1)% | ||
SL Green Realty Corp. | (6,356 ) | (316,719 ) |
Real Estate Management & Development (0.5)% | ||
CBRE Group, Inc.(b) | (4,672 ) | (405,950 ) |
IWG PLC(b) | (11,730 ) | (27,082 ) |
Redfin Corp.(b) | (48,970 ) | (274,722 ) |
Sagax AB, Class B | (31,289 ) | (783,541 ) |
Total | (1,491,295 ) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Residential REITs (0.1)% | ||
Camden Property Trust | (1,321 ) | (131,677 ) |
Mid-America Apartment Communities, Inc. | (761 ) | (98,930 ) |
Total | (230,607 ) | |
Retail REITs (0.1)% | ||
Unibail-Rodamco-Westfield(b) | (2,639 ) | (219,916 ) |
Specialized REITs (0.0)% | ||
Digital Realty Trust, Inc. | (1,247 ) | (173,059 ) |
Total Real Estate | (2,790,862 ) | |
Utilities (0.1)% | ||
Gas Utilities (0.1)% | ||
APA Group | (28,595 ) | (152,597 ) |
Independent Power and Renewable Electricity Producers (0.0)% | ||
RENOVA, Inc.(b) | (9,400 ) | (88,326 ) |
Total Utilities | (240,923 ) | |
Total Common Stocks (Proceeds $65,582,078) | (61,005,989 ) |
Preferred Stocks (0.0)% | |||
Issuer | Shares | Value ($) | |
Consumer Discretionary (0.0)% | |||
Automobiles (0.0)% | |||
Dr. Ing. h.c. F. Porsche AG | (821 ) | (73,091 ) | |
Total Consumer Discretionary | (73,091 ) | ||
Total Preferred Stocks (Proceeds $82,788) | (73,091 ) |
Warrants (0.0)% | ||
Issuer | Shares | Value ($) |
Health Care (0.0)% | ||
Pharmaceuticals (0.0)% | ||
Cassava Sciences, Inc.(b) | (1,448 ) | (391 ) |
Total Health Care | (391 ) | |
Total Warrants (Proceeds $15,432) | (391 ) | |
Total Investments in Securities Sold Short (Proceeds $65,680,298) | (61,079,471 ) | |
Total Investments in Securities, Net of Securities Sold Short | 214,909,617 | |
Other Assets & Liabilities, Net | 57,671,673 | |
Net Assets | 272,581,290 |
Call option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
Progressive Corp. (The) | Morgan Stanley | USD | (333,200 ) | (16 ) | 220.00 | 5/17/2024 | (3,432 ) | (2,000 ) |
(a) | This security or a portion of this security has been pledged as collateral in connection with investments sold short and/or derivative contracts. |
(b) | Non-income producing investment. |
(c) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At April 30, 2024, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(d) | Valuation based on significant unobservable inputs. |
(e) | The rate shown is the seven-day current annualized yield at April 30, 2024. |
(f) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2024 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.485% | ||||||||
33,247,325 | 263,860,445 | (247,560,344 ) | 469 | 49,547,895 | (3,685 ) | 2,245,200 | 49,562,764 |
ADR | American Depositary Receipt |
USD | US Dollar |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 10,602,441 | 2,094,016 | — | 12,696,457 |
Consumer Discretionary | 12,973,675 | 2,276,970 | — | 15,250,645 |
Consumer Staples | 11,394,066 | 919,958 | — | 12,314,024 |
Energy | 8,513,589 | 1,326,361 | — | 9,839,950 |
Financials | 21,662,938 | 8,860,640 | — | 30,523,578 |
Health Care | 20,215,523 | 1,818,555 | — | 22,034,078 |
Industrials | 23,791,327 | 8,051,219 | — | 31,842,546 |
Information Technology | 22,465,800 | 1,812,123 | — | 24,277,923 |
Materials | 2,726,387 | 5,093,318 | — | 7,819,705 |
Real Estate | 3,827,182 | 757,950 | — | 4,585,132 |
Utilities | 3,392,353 | 5,666,379 | — | 9,058,732 |
Total Common Stocks | 141,565,281 | 38,677,489 | — | 180,242,770 |
Exchange-Traded Equity Funds | 45,427,344 | — | — | 45,427,344 |
Preferred Stocks | ||||
Consumer Discretionary | — | 771,079 | — | 771,079 |
Total Preferred Stocks | — | 771,079 | — | 771,079 |
Warrants | ||||
Information Technology | — | — | 0 * | 0 * |
Total Warrants | — | — | 0 * | 0 * |
Money Market Funds | 49,547,895 | — | — | 49,547,895 |
Total Investments in Securities | 236,540,520 | 39,448,568 | 0 * | 275,989,088 |
Investments in Securities Sold Short | ||||
Common Stocks | ||||
Communication Services | (3,148,483 ) | (1,693,226 ) | — | (4,841,709 ) |
Consumer Discretionary | (6,306,200 ) | (2,584,275 ) | — | (8,890,475 ) |
Consumer Staples | (2,051,894 ) | (994,109 ) | — | (3,046,003 ) |
Energy | (3,282,331 ) | (46,024 ) | — | (3,328,355 ) |
Financials | (7,364,873 ) | (3,961,751 ) | — | (11,326,624 ) |
Health Care | (4,474,518 ) | (3,861,919 ) | — | (8,336,437 ) |
Industrials | (4,500,777 ) | (4,405,424 ) | — | (8,906,201 ) |
Information Technology | (4,327,289 ) | — | — | (4,327,289 ) |
Materials | (3,299,533 ) | (1,671,578 ) | — | (4,971,111 ) |
Real Estate | (1,401,057 ) | (1,389,805 ) | — | (2,790,862 ) |
Utilities | — | (240,923 ) | — | (240,923 ) |
Total Common Stocks | (40,156,955 ) | (20,849,034 ) | — | (61,005,989 ) |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Preferred Stocks | ||||
Consumer Discretionary | — | (73,091 ) | — | (73,091 ) |
Total Preferred Stocks | — | (73,091 ) | — | (73,091 ) |
Warrants | ||||
Health Care | (391 ) | — | — | (391 ) |
Total Warrants | (391 ) | — | — | (391 ) |
Total Investments in Securities Sold Short | (40,157,346 ) | (20,922,125 ) | — | (61,079,471 ) |
Total Investments in Securities, Net of Securities Sold Short | 196,383,174 | 18,526,443 | 0 * | 214,909,617 |
Investments in Derivatives | ||||
Liability | ||||
Call Option Contracts Written | (2,000 ) | — | — | (2,000 ) |
Total | 196,381,174 | 18,526,443 | 0 * | 214,907,617 |
* | Rounds to zero. |
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $191,326,457) | $226,441,193 |
Affiliated issuers (cost $49,543,744) | 49,547,895 |
Cash collateral held at broker for: | |
Securities sold short | 57,267,663 |
Receivable for: | |
Investments sold | 96,235 |
Capital shares sold | 267,827 |
Dividends | 499,348 |
Interest | 172,841 |
Foreign tax reclaims | 253,419 |
Expense reimbursement due from Investment Manager | 3,038 |
Prepaid expenses | 1,800 |
Deferred compensation of board members | 46,586 |
Total assets | 334,597,845 |
Liabilities | |
Securities sold short, at value (proceeds $65,680,298) | 61,079,471 |
Option contracts written, at value (premiums received $3,432) | 2,000 |
Due to custodian | 1,974 |
Foreign currency (cost $22,298) | 22,265 |
Payable for: | |
Investments purchased | 233,257 |
Capital shares redeemed | 388,069 |
Dividends and interest on securities sold short | 103,681 |
Management services fees | 12,033 |
Transfer agent fees | 39,611 |
Compensation of board members | 579 |
Other expenses | 66,656 |
Deferred compensation of board members | 66,959 |
Total liabilities | 62,016,555 |
Net assets applicable to outstanding capital stock | $272,581,290 |
Represented by | |
Paid in capital | 234,809,111 |
Total distributable earnings (loss) | 37,772,179 |
Total - representing net assets applicable to outstanding capital stock | $272,581,290 |
Institutional Class | |
Net assets | $272,581,290 |
Shares outstanding | 38,386,533 |
Net asset value per share | $7.10 |
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $5,022,499 |
Dividends — affiliated issuers | 2,245,200 |
Interest | 2,369,195 |
Interfund lending | 915 |
Foreign taxes withheld | (145,118 ) |
Total income | 9,492,691 |
Expenses: | |
Management services fees | 4,305,690 |
Transfer agent fees | |
Institutional Class | 571,788 |
Custodian fees | 162,955 |
Printing and postage fees | 60,744 |
Registration fees | 39,733 |
Accounting services fees | 52,665 |
Legal fees | 14,916 |
Dividends and interest on securities sold short | 1,089,035 |
Interest on interfund lending | 81 |
Compensation of chief compliance officer | 50 |
Compensation of board members | 13,377 |
Deferred compensation of board members | 6,794 |
Other | 11,440 |
Total expenses | 6,329,268 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (773,794 ) |
Total net expenses | 5,555,474 |
Net investment income | 3,937,217 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 21,290,627 |
Investments — affiliated issuers | (3,685 ) |
Foreign currency translations | (248,181 ) |
Option contracts purchased | (236,499 ) |
Option contracts written | 120,749 |
Securities sold short | (5,142,515 ) |
Swap contracts | 14,342 |
Net realized gain | 15,794,838 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 13,580,606 |
Investments — affiliated issuers | 469 |
Foreign currency translations | (299,780 ) |
Option contracts purchased | 135,686 |
Option contracts written | 180 |
Securities sold short | (1,763,992 ) |
Swap contracts | 1,530 |
Net change in unrealized appreciation (depreciation) | 11,654,699 |
Net realized and unrealized gain | 27,449,537 |
Net increase in net assets resulting from operations | $31,386,754 |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | |
Operations | ||
Net investment income | $3,937,217 | $1,616,660 |
Net realized gain (loss) | 15,794,838 | (6,005,539 ) |
Net change in unrealized appreciation (depreciation) | 11,654,699 | (4,657,653 ) |
Net increase (decrease) in net assets resulting from operations | 31,386,754 | (9,046,532 ) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Institutional Class | (4,149,250 ) | (27,498,020 ) |
Total distributions to shareholders | (4,149,250 ) | (27,498,020 ) |
Increase (decrease) in net assets from capital stock activity | (14,419,213 ) | 29,607,127 |
Total increase (decrease) in net assets | 12,818,291 | (6,937,425 ) |
Net assets at beginning of year | 259,762,999 | 266,700,424 |
Net assets at end of year | $272,581,290 | $259,762,999 |
Year Ended | Year Ended | |||
April 30, 2024 | April 30, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Institutional Class | ||||
Shares sold | 6,632,497 | 44,316,193 | 10,452,906 | 73,487,604 |
Distributions reinvested | 617,448 | 4,149,250 | 4,198,171 | 27,498,020 |
Shares redeemed | (9,355,548 ) | (62,884,656 ) | (10,094,867 ) | (71,378,497 ) |
Net increase (decrease) | (2,105,603 ) | (14,419,213 ) | 4,556,210 | 29,607,127 |
Total net increase (decrease) | (2,105,603 ) | (14,419,213 ) | 4,556,210 | 29,607,127 |
Institutional Class | Year Ended April 30, | ||||
2024 | 2023 | 2022 | 2021 | 2020 | |
Per share data | |||||
Net asset value, beginning of period | $6.42 | $7.42 | $7.23 | $6.00 | $6.78 |
Income (loss) from investment operations: | |||||
Net investment income (loss) | 0.10 | 0.04 | (0.07 ) | (0.08 ) | (0.01 ) |
Net realized and unrealized gain (loss) | 0.69 | (0.28 ) | 0.80 | 1.31 | (0.72 ) |
Total from investment operations | 0.79 | (0.24 ) | 0.73 | 1.23 | (0.73 ) |
Distributions to shareholders | |||||
Distributions from net investment income | (0.09 ) | (0.15 ) | (0.08 ) | — | — |
Distributions from net realized gains | (0.02 ) | (0.61 ) | (0.46 ) | — | (0.05 ) |
Total distributions to shareholders | (0.11 ) | (0.76 ) | (0.54 ) | — | (0.05 ) |
Net asset value, end of period | $7.10 | $6.42 | $7.42 | $7.23 | $6.00 |
Total return | 12.34 % | (3.44 %) | 10.42 % | 20.50 % | (10.81 %) |
Ratios to average net assets | |||||
Total gross expenses(a) | 2.36 %(b),(c) | 2.62 %(b),(c) | 2.61 %(b),(c),(d) | 2.90 %(b),(c),(d) | 2.31 %(b),(d) |
Total net expenses(a),(e) | 2.07 %(b),(c) | 2.35 %(b),(c) | 2.43 %(b),(c),(d) | 2.71 %(b),(c),(d) | 2.19 %(b),(d) |
Net investment income (loss) | 1.47 % | 0.62 % | (1.00 %) | (1.31 %) | (0.14 %) |
Supplemental data | |||||
Net assets, end of period (in thousands) | $272,581 | $259,763 | $266,700 | $278,350 | $221,159 |
Portfolio turnover | 193 % | 399 % | 323 % | 254 % | 197 % |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Ratios include dividends and interest on securities sold short. If dividends and interest on securities sold short had been excluded, expenses would have been lower by: |
Class | 4/30/2024 | 4/30/2023 | 4/30/2022 | 4/30/2021 | 4/30/2020 |
Institutional Class | 0.41% | 0.51% | 0.59% | 0.87% | 0.32% |
(c) | Ratios include interfund lending expense which is less than 0.01%. |
(d) | Ratios include interest on collateral expense which is less than 0.01%. |
(e) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Option contracts written, at value | 2,000 |
Amount of realized gain (loss) on derivatives recognized in income | ||||
Risk exposure category | Option contracts purchased ($) | Option contracts written ($) | Swap contracts ($) | Total ($) |
Equity risk | (236,499 ) | 120,749 | 14,342 | (101,408 ) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||
Risk exposure category | Option contracts purchased ($) | Option contracts written ($) | Swap contracts ($) | Total ($) |
Equity risk | 135,686 | 180 | 1,530 | 137,396 |
Derivative instrument | Average value ($) |
Option contracts purchased | 5,827 |
Option contracts written | (41,489 ) |
Derivative instrument | Average unrealized appreciation ($) | Average unrealized depreciation ($) |
Total return swap contracts | 3,822 | (2,757 ) |
JPMorgan ($) | Morgan Stanley ($) | Total ($) | |
Liabilities | |||
Call option contracts written | - | 2,000 | 2,000 |
Securities borrowed | 4,632,158 | 56,447,313 | 61,079,471 |
Total liabilities | 4,632,158 | 56,449,313 | 61,081,471 |
Total financial and derivative net assets | (4,632,158 ) | (56,449,313 ) | (61,081,471 ) |
Total collateral received (pledged) (a) | (4,632,158 ) | (56,449,313 ) | (61,081,471 ) |
Net amount (b) | - | - | - |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Effective rate (%) | |
Institutional Class | 0.21 |
Fee rate(s) contractual through August 31, 2024 | |
Institutional Class | 1.84 % |
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
324,528 | (324,529 ) | 1 |
Year Ended April 30, 2024 | Year Ended April 30, 2023 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
3,525,558 | 623,692 | 4,149,250 | 15,634,193 | 11,863,827 | 27,498,020 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
1,754,103 | 3,674,598 | — | 32,789,692 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
182,117,925 | 41,435,594 | (8,645,902 ) | 32,789,692 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | — | — | 7,018,378 |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 250,000 | 5.86 | 2 |
Lender | 1,140,000 | 5.70 | 5 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
97.07% | 70.78% | 1.27% | $4,513,205 |
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 and other relevant Board experience |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 161 | 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; former Board Member, Chase Bank International, 1993-1994 |
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; Trustee of Gerald Rauenhorst 1982 Trusts, since 2020; 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-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 161 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (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; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; 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, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 161 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee, since 2017 and Audit Committee Chair, since November 2023); Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services company), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
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 and other relevant Board experience |
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 | 161 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; Member, FINRA National Adjudicatory Council, January 2020-December 2023; Adjunct Professor of Finance, Bentley University January 2018-April 2023; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; 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 | 159 | Former Director, The Autism Project, March 2015-December 2021; 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 (former mutual fund complex), January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | 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; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 159 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor Emeritus of Economics and Management, Bentley University, since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 161 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 |
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 | 161 | Trustee, Catholic Schools Foundation, since 2004 |
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 and other relevant Board experience |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | 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 | 161 | Director, SpartanNash Company (food distributor), since November 2013 (Chair of the Board, since May 2021); Director, Aircastle Limited (aircraft leasing), since August 2006 (Chair of Audit Committee); 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 | 159 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 161 | Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates, January 2013-December 2015 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | 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. | 161 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
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 and other relevant Board experience |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 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 | 159 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
Sandra L. 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 | 161 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, June 2022-June 2023 |
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 and other relevant Board experience |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 | 161 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds 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, Beckman, Gallagher, Hacker and Moffett and Mses. Blatz, Carlton, Carrig, Flynn, Paglia, and Yeager serve as directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | 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. |
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 |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009); Senior Vice President (2019); Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2024) for CFST, CFST I, CFST II, CFVIT and CFVST II | Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations, March 2022 – June 2023, Vice President, Head of North America Operations, and Co-Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002. Director, Ameriprise Trust Company, since June 2023. |
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. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 - 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, TAM UK International Holdings Limited, since July 2021; formerly Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, March 2013 – December 2022 and December 2008 – December 2022, respectively; senior executive of various entities affiliated with Columbia Threadneedle Investments. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds, since 2007. |
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; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
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. |
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 |
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; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
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.
The registrant has adopted a code of ethics (the “Code”) 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. During the period covered by this report, there were not any amendments to a provision of the Code that relates to any element of the code of ethics definition enumerated in paragraph (b) of Item 2 of Form N-CSR. During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the Code that relates to one or more of the items set forth in paragraph (b) of Item 2 of Form N-CSR. A copy of the Code is attached hereto.
Item 3. Audit Committee Financial Expert.
The registrant’s Board of Trustees has determined that David M. Moffett, Brian J. Gallagher, J. Kevin Connaughton, Sandra L. Yeager, and Douglas A. Hacker, 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, Ms. Yeager, and Mr. Hacker 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 series of the relevant registrant whose reports to shareholders 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 April 30, 2024 and April 30, 2023 are approximately as follows:
2024 | 2023 |
$238,488 | $231,540 |
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 April 30, 2024 and April 30, 2023 are approximately as follows:
2024 | 2023 |
$0 | $25,000 |
Audit-Related Fees, if any, 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 April 30, 2024 and April 30, 2023, 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 April 30, 2024 and April 30, 2023 are approximately as follows:
2024 | 2023 |
$77,100 | $78,100 |
Tax Fees 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 April 30, 2024 and April 30, 2023, 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 April 30, 2024 and April 30, 2023 are approximately as follows:
2024 | 2023 |
$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 April 30, 2024 and April 30, 2023 are approximately as follows:
2024 | 2023 |
$581,000 | $577,000 |
In fiscal years 2024 and 2023, 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.
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(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 April 30, 2024 and April 30, 2023 are approximately as follows:
2024 | 2023 |
$658,100 | $680,100 |
(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.
(i) Not applicable.
(j) Not applicable.
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 |
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By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
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Date | June 20, 2024 |
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
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Date | June 20, 2024 |
By (Signature and Title) | /s/ Michael G. Clarke |
| Michael G. Clarke, Chief Financial Officer, Treasurer, |
| Chief Accounting Officer, Principal Financial Officer and Senior Vice President |
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Date | June 20, 2024 |