| Common Stocks 97.9% | ||
| Issuer | Shares | Value ($) |
| Communication Services 4.4% | ||
| Entertainment 3.4% | ||
| Live Nation Entertainment, Inc.(a) | 64,669 | 4,917,431 |
| Roblox Corp., Class A(a) | 105,464 | 3,779,830 |
| Take-Two Interactive Software, Inc.(a) | 51,128 | 5,572,952 |
| Total | 14,270,213 | |
| Media 1.0% | ||
| Trade Desk, Inc. (The), Class A(a) | 69,254 | 4,137,926 |
| Total Communication Services | 18,408,139 | |
| Consumer Discretionary 17.0% | ||
| Auto Components 1.0% | ||
| Dorman Products, Inc.(a) | 48,062 | 3,946,851 |
| Diversified Consumer Services 1.8% | ||
| Bright Horizons Family Solutions, Inc.(a) | 80,082 | 4,616,727 |
| Chegg, Inc.(a) | 144,931 | 3,053,696 |
| Total | 7,670,423 | |
| Hotels, Restaurants & Leisure 6.6% | ||
| Churchill Downs, Inc. | 45,139 | 8,312,347 |
| Planet Fitness, Inc., Class A(a) | 111,629 | 6,436,528 |
| Wingstop, Inc. | 99,780 | 12,514,408 |
| Total | 27,263,283 | |
| Household Durables 2.3% | ||
| Skyline Champion Corp.(a) | 181,945 | 9,619,432 |
| Internet & Direct Marketing Retail 1.2% | ||
| Etsy, Inc.(a) | 47,724 | 4,778,604 |
| Specialty Retail 4.1% | ||
| Five Below, Inc.(a) | 62,953 | 8,666,740 |
| Floor & Decor Holdings, Inc., Class A(a) | 45,780 | 3,216,503 |
| Williams-Sonoma, Inc. | 43,478 | 5,123,882 |
| Total | 17,007,125 | |
| Total Consumer Discretionary | 70,285,718 | |
| Consumer Staples 3.0% | ||
| Food & Staples Retailing 1.2% | ||
| BJ’s Wholesale Club Holdings, Inc.(a) | 65,674 | 4,781,724 |
| Common Stocks (continued) | ||
| Issuer | Shares | Value ($) |
| Household Products 1.8% | ||
| WD-40 Co. | 43,092 | 7,572,988 |
| Total Consumer Staples | 12,354,712 | |
| Energy 3.5% | ||
| Oil, Gas & Consumable Fuels 3.5% | ||
| Antero Resources Corp.(a) | 126,108 | 3,850,077 |
| Devon Energy Corp. | 95,641 | 5,750,893 |
| Diamondback Energy, Inc. | 42,436 | 5,111,841 |
| Total | 14,712,811 | |
| Total Energy | 14,712,811 | |
| Financials 5.1% | ||
| Banks 1.5% | ||
| Lakeland Financial Corp. | 48,769 | 3,550,871 |
| Pinnacle Financial Partners, Inc. | 30,895 | 2,505,584 |
| Total | 6,056,455 | |
| Capital Markets 3.1% | ||
| Ares Management Corp., Class A | 86,010 | 5,328,319 |
| GCM Grosvenor, Inc., Class A(b) | 537,131 | 4,237,964 |
| Houlihan Lokey, Inc., Class A | 46,242 | 3,485,722 |
| Total | 13,052,005 | |
| Insurance 0.5% | ||
| Ryan Specialty Holdings, Inc., Class A(a) | 52,787 | 2,144,208 |
| Total Financials | 21,252,668 | |
| Health Care 18.7% | ||
| Biotechnology 3.0% | ||
| Insmed, Inc.(a) | 138,754 | 2,988,761 |
| Intellia Therapeutics, Inc.(a) | 30,137 | 1,686,466 |
| Iovance Biotherapeutics, Inc.(a) | 107,160 | 1,026,593 |
| Natera, Inc.(a) | 155,212 | 6,801,390 |
| Total | 12,503,210 | |
| Health Care Equipment & Supplies 3.4% | ||
| Axonics, Inc.(a) | 66,530 | 4,686,373 |
| Inspire Medical Systems, Inc.(a) | 13,545 | 2,402,477 |
| Insulet Corp.(a) | 30,259 | 6,941,415 |
| Total | 14,030,265 | |
| Wanger Acorn | Third Quarter Report 2022 | 1 |
| Common Stocks (continued) | ||
| Issuer | Shares | Value ($) |
| Health Care Providers & Services 4.5% | ||
| Amedisys, Inc.(a) | 64,980 | 6,289,414 |
| Chemed Corp. | 23,512 | 10,264,399 |
| P3 Health Partners, Inc., Class A(a),(b) | 411,710 | 1,902,100 |
| Total | 18,455,913 | |
| Health Care Technology 1.4% | ||
| Doximity, Inc., Class A(a),(b) | 194,664 | 5,882,746 |
| Life Sciences Tools & Services 5.1% | ||
| Bio-Techne Corp. | 33,550 | 9,528,200 |
| DNA Script(a),(c),(d),(e) | 2,550 | 1,004,100 |
| Repligen Corp.(a) | 56,174 | 10,510,717 |
| Total | 21,043,017 | |
| Pharmaceuticals 1.3% | ||
| Catalent, Inc.(a) | 74,597 | 5,397,839 |
| Total Health Care | 77,312,990 | |
| Industrials 23.2% | ||
| Aerospace & Defense 3.1% | ||
| Axon Enterprise, Inc.(a) | 53,633 | 6,208,020 |
| Curtiss-Wright Corp. | 47,841 | 6,657,553 |
| Total | 12,865,573 | |
| Building Products 0.9% | ||
| Simpson Manufacturing Co., Inc. | 27,348 | 2,144,083 |
| Trex Company, Inc.(a) | 39,629 | 1,741,298 |
| Total | 3,885,381 | |
| Commercial Services & Supplies 1.0% | ||
| Rollins, Inc. | 125,997 | 4,369,576 |
| Electrical Equipment 4.2% | ||
| AMETEK, Inc. | 77,320 | 8,768,861 |
| Atkore, Inc.(a) | 42,439 | 3,302,179 |
| Generac Holdings, Inc.(a) | 29,193 | 5,200,441 |
| Total | 17,271,481 | |
| Common Stocks (continued) | ||
| Issuer | Shares | Value ($) |
| Machinery 5.9% | ||
| Evoqua Water Technologies Corp.(a) | 96,708 | 3,198,134 |
| Ingersoll Rand, Inc. | 99,917 | 4,322,410 |
| Kornit Digital Ltd.(a) | 79,885 | 2,125,740 |
| Middleby Corp. (The)(a) | 61,920 | 7,936,286 |
| SPX Technologies, Inc.(a) | 122,720 | 6,776,598 |
| Total | 24,359,168 | |
| Professional Services 6.1% | ||
| Booz Allen Hamilton Holding Corp. | 79,904 | 7,379,134 |
| CoStar Group, Inc.(a) | 173,013 | 12,050,356 |
| ICF International, Inc. | 54,348 | 5,925,019 |
| Total | 25,354,509 | |
| Trading Companies & Distributors 2.0% | ||
| SiteOne Landscape Supply, Inc.(a) | 77,990 | 8,121,879 |
| Total Industrials | 96,227,567 | |
| Information Technology 18.4% | ||
| Electronic Equipment, Instruments & Components 2.2% | ||
| CDW Corp. | 57,510 | 8,976,161 |
| IT Services 3.1% | ||
| DigitalOcean Holdings, Inc.(a) | 60,569 | 2,190,781 |
| Endava PLC, ADR(a) | 37,481 | 3,022,093 |
| MongoDB, Inc.(a) | 20,846 | 4,139,182 |
| VeriSign, Inc.(a) | 20,732 | 3,601,148 |
| Total | 12,953,204 | |
| Semiconductors & Semiconductor Equipment 1.9% | ||
| Marvell Technology, Inc. | 54,779 | 2,350,567 |
| Monolithic Power Systems, Inc. | 11,007 | 3,999,944 |
| Wolfspeed, Inc.(a) | 15,567 | 1,609,005 |
| Total | 7,959,516 | |
| Software 11.2% | ||
| Bill.com Holdings, Inc.(a) | 34,767 | 4,602,108 |
| Crowdstrike Holdings, Inc., Class A(a) | 26,457 | 4,360,378 |
| Datadog, Inc., Class A(a) | 33,735 | 2,994,993 |
| Five9, Inc.(a) | 79,045 | 5,926,794 |
| HubSpot, Inc.(a) | 19,019 | 5,137,412 |
| Paycom Software, Inc.(a) | 34,170 | 11,275,758 |
| 2 | Wanger Acorn | Third Quarter Report 2022 |
| Common Stocks (continued) | ||
| Issuer | Shares | Value ($) |
| Workiva, Inc., Class A(a) | 36,095 | 2,808,191 |
| Zscaler, Inc.(a) | 55,636 | 9,144,890 |
| Total | 46,250,524 | |
| Total Information Technology | 76,139,405 | |
| Materials 1.7% | ||
| Chemicals 1.7% | ||
| Albemarle Corp. | 12,634 | 3,340,935 |
| Avient Corp. | 123,661 | 3,746,928 |
| Total | 7,087,863 | |
| Total Materials | 7,087,863 | |
| Real Estate 2.9% | ||
| Real Estate Management & Development 2.9% | ||
| Colliers International Group, Inc. | 85,143 | 7,804,207 |
| FirstService Corp. | 34,470 | 4,102,275 |
| Total | 11,906,482 | |
| Total Real Estate | 11,906,482 | |
| Total Common Stocks (Cost $437,360,519) | 405,688,355 | |
| Securities Lending Collateral 1.9% | ||
| Issuer | Shares | Value ($) |
| Dreyfus Government Cash Management Fund, Institutional Shares, 2.748%(f),(g) | 7,966,275 | 7,966,275 |
| Total Securities Lending Collateral (Cost $7,966,275) | 7,966,275 | |
| Money Market Funds 2.5% | ||
| Shares | Value ($) | |
| Columbia Short-Term Cash Fund, 2.834%(f),(h) | 10,186,369 | 10,181,276 |
| Total Money Market Funds (Cost $10,179,787) | 10,181,276 | |
| Total Investments in Securities (Cost: $455,506,581) | 423,835,906 | |
| Obligation to Return Collateral for Securities Loaned | (7,966,275) | |
| Other Assets & Liabilities, Net | (1,390,761) | |
| Net Assets | 414,478,870 | |
| (a) | Non-income producing investment. |
| (b) | All or a portion of this security was on loan at September 30, 2022. The total market value of securities on loan at September 30, 2022 was $7,455,719. |
| (c) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At September 30, 2022, the total value of these securities amounted to $1,004,100, which represents 0.24% of total net assets. |
| (d) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Fund’s Board of Trustees. At September 30, 2022, the total market value of these securities amounted to $1,004,100, which represents 0.24% of total net assets. Additional information on these securities is as follows: |
| Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
| DNA Script | 10/01/2021 | 2,550 | 2,223,535 | 1,004,100 |
| (e) | Valuation based on significant unobservable inputs. |
| (f) | The rate shown is the seven-day current annualized yield at September 30, 2022. |
| (g) | Investment made with cash collateral received from securities lending activity. |
| Wanger Acorn | Third Quarter Report 2022 | 3 |
| (h) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund.The value of the holdings and transactions in these affiliated companies during the period ended September 30, 2022 are as follows: |
| Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
| Columbia Short-Term Cash Fund, 2.834% | ||||||||
| 28,253,542 | 228,936,139 | (247,011,141) | 2,736 | 10,181,276 | (4,039) | 115,512 | 10,186,369 | |
| ADR | American Depositary Receipt |
| 4 | Wanger Acorn | Third Quarter Report 2022 |
