# EDGAR Filing Document

**Accession Number:** 0000773757
**File Stem:** 0001193125-26-143530
**Filing Date:** 2026-4
**Character Count:** 726086
**Document Hash:** 019fdb550930e42bc44c529ab3343c96
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-143530.hdr.sgml**: 20260406

**ACCESSION NUMBER**: 0001193125-26-143530

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 23

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260406

**DATE AS OF CHANGE**: 20260406

**EFFECTIVENESS DATE**: 20260406

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLUMBIA FUNDS SERIES TRUST I
- **CENTRAL INDEX KEY:** 0000773757

**ORGANIZATION NAME:**
- **EIN:** 363376651
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04367
- **FILM NUMBER:** 26840649

**BUSINESS ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 800-345-6611

**MAIL ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COLUMBIA FUNDS TRUST IX
- **DATE OF NAME CHANGE:** 20031107

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LIBERTY STEIN ROE FUNDS MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 19991025

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STEINROE MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Columbia Total Return Municipal Income Fund (Series ID: S000010620)

| Class ID   | Class Name                                                        | Ticker Symbol   |
|:---|:---|:---|
| C000029373 | Columbia Total Return Municipal Income Fund Class A               | COLTX           |
| C000029375 | Columbia Total Return Municipal Income Fund Class C               | COLCX           |
| C000029376 | Columbia Total Return Municipal Income Fund Institutional Class   | CTEZX           |
| C000136874 | Columbia Total Return Municipal Income Fund Institutional 2 Class | CADMX           |
| C000177149 | Columbia Total Return Municipal Income Fund Institutional 3 Class | CTEYX           |
| C000253711 | Columbia Total Return Municipal Income Fund Class S               | CTEDX           |

### Columbia Oregon Intermediate Municipal Bond Fund (Series ID: S000012071)

| Class ID   | Class Name                                                             | Ticker Symbol   |
|:---|:---|:---|
| C000032858 | Columbia Oregon Intermediate Municipal Bond Fund Class A               | COEAX           |
| C000032862 | Columbia Oregon Intermediate Municipal Bond Fund Institutional Class   | CMBFX           |
| C000122662 | Columbia Oregon Intermediate Municipal Bond Fund Institutional 2 Class | CODRX           |
| C000177150 | Columbia Oregon Intermediate Municipal Bond Fund Institutional 3 Class | CORYX           |
| C000253715 | Columbia Oregon Intermediate Municipal Bond Fund Class S               | CMBCX           |

### Columbia Cornerstone Growth Fund (Series ID: S000012081)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000032910 | Columbia Cornerstone Growth Fund Class A               | LEGAX           |
| C000032912 | Columbia Cornerstone Growth Fund Class C               | LEGCX           |
| C000032915 | Columbia Cornerstone Growth Fund Institutional Class   | GEGTX           |
| C000034322 | Columbia Cornerstone Growth Fund Class E               | CLGEX           |
| C000078989 | Columbia Cornerstone Growth Fund Institutional 3 Class | CGFYX           |
| C000094688 | Columbia Cornerstone Growth Fund Class R               | CGWRX           |
| C000094690 | Columbia Cornerstone Growth Fund Institutional 2 Class | CLWFX           |
| C000253720 | Columbia Cornerstone Growth Fund Class S               | GEGDX           |

### Columbia Ultra Short Term Bond Fund (Series ID: S000027194)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000082083 | Columbia Ultra Short Term Bond Fund Institutional 3 Class | CMGUX           |
| C000206532 | Columbia Ultra Short Term Bond Fund Institutional Class   | CUSBX           |
| C000210388 | Columbia Ultra Short Term Bond Fund Class A               | CUSOX           |

?xml version='1.0' encoding='ASCII'? N-CSRS

### 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)

#### Michael G. Clarke

#### 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: Last Day of July

#### Date of reporting period: January 31, 2026

------

#### Item 1. Reports to Stockholders.

# Columbia Cornerstone Growth Fund
Class A \| LEGAX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $50 | 0.96%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Class A **\|** SSR174_01_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Class A **\|** SSR174_01_(03/26) \|

# Columbia Cornerstone Growth Fund
Class C \| LEGCX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $88 | 1.71%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Class C **\|** SSR174_04_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Class C **\|** SSR174_04_(03/26) \|

# Columbia Cornerstone Growth Fund
Class E \| CLGEX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class E | $64 | 1.24%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Class E **\|** SSR174_21_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Class E **\|** SSR174_21_(03/26) \|

# Columbia Cornerstone Growth Fund
Class R \| CGWRX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class R | $63 | 1.21%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Class R **\|** SSR174_12_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Class R **\|** SSR174_12_(03/26) \|

# Columbia Cornerstone Growth Fund
Class S \| GEGDX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class S | $37 | 0.71%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Class S **\|** SSR174_16_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Class S **\|** SSR174_16_(03/26) \|

# Columbia Cornerstone Growth Fund
Institutional 2 Class \| CLWFX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $36 | 0.70%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Institutional 2 Class **\|** SSR174_15_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Institutional 2 Class **\|** SSR174_15_(03/26) \|

# Columbia Cornerstone Growth Fund
Institutional 3 Class \| CGFYX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $34 | 0.65%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Institutional 3 Class **\|** SSR174_17_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Institutional 3 Class **\|** SSR174_17_(03/26) \|

# Columbia Cornerstone Growth Fund
Institutional Class \| GEGTX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Cornerstone Growth Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $37 | 0.71%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $6335317711 |
| **Total number of portfolio holdings** | 47 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Cornerstone Growth Fund \| Institutional Class **\|** SSR174_08_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 20.6% |
| Systems Software | 13.2% |
| Technology Hardware, Storage & Peripherals | 10.4% |
| Application Software | 1.4% |
| Communications Equipment | 1.3% |
| Other | 0.8% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 13.6% |
| Apple, Inc. | 10.4% |
| Microsoft Corp. | 9.7% |
| Amazon.com, Inc. | 6.5% |
| Alphabet, Inc., Class A | 5.9% |
| Meta Platforms, Inc., Class A | 4.8% |
| Broadcom, Inc. | 4.8% |
| Eli Lilly & Co. | 3.7% |
| Visa, Inc., Class A | 2.7% |
| Alphabet, Inc., Class C | 2.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 47.8% |
| Communication Services | 15.5% |
| Consumer Discretionary | 14.4% |
| Health Care | 8.3% |
| Financials | 5.7% |
| Industrials | 4.3% |
| Consumer Staples | 2.9% |
| Real Estate | 0.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

Columbia Cornerstone Growth Fund \| Institutional Class **\|** SSR174_08_(03/26) \|

# Columbia Oregon Intermediate Municipal Bond Fund
Class A \| COEAX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Oregon Intermediate Municipal Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $42 | 0.81%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298219363 |
| **Total number of portfolio holdings** | 187 |
| **Portfolio turnover for the reporting period** | 3% |

---

Columbia Oregon Intermediate Municipal Bond Fund \| Class A **\|** SSR207_01_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| Oregon Health & Science University 07/01/2034 5.000% | 2.5% |
| City of Portland Water System 04/01/2030 4.000% | 2.5% |
| Tri-County Metropolitan Transportation District of Oregon 10/01/2032 5.000% | 2.4% |
| Oregon Health & Science University 07/01/2032 5.000% | 1.9% |
| City of Portland Sewer System 12/01/2042 5.000% | 1.8% |
| State of Oregon Department of Transportation 11/15/2037 5.000% | 1.8% |
| State of Oregon Housing & Community Services Department 01/10/2048 4.000% | 1.7% |
| Puerto Rico Public Finance Corp. 08/01/2026 6.000% | 1.7% |
| Port of Portland 07/01/2039 4.000% | 1.7% |
| Washington Clackamas & Yamhill Counties School District No. 88J 06/15/2031 5.000% | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 98.7% |
| Other | 0.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Oregon Intermediate Municipal Bond Fund \| Class A **\|** SSR207_01_(03/26) \|

# Columbia Oregon Intermediate Municipal Bond Fund
Class S \| CMBCX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Oregon Intermediate Municipal Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class S | $29 | 0.56%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298219363 |
| **Total number of portfolio holdings** | 187 |
| **Portfolio turnover for the reporting period** | 3% |

---

Columbia Oregon Intermediate Municipal Bond Fund \| Class S **\|** SSR207_16_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| Oregon Health & Science University 07/01/2034 5.000% | 2.5% |
| City of Portland Water System 04/01/2030 4.000% | 2.5% |
| Tri-County Metropolitan Transportation District of Oregon 10/01/2032 5.000% | 2.4% |
| Oregon Health & Science University 07/01/2032 5.000% | 1.9% |
| City of Portland Sewer System 12/01/2042 5.000% | 1.8% |
| State of Oregon Department of Transportation 11/15/2037 5.000% | 1.8% |
| State of Oregon Housing & Community Services Department 01/10/2048 4.000% | 1.7% |
| Puerto Rico Public Finance Corp. 08/01/2026 6.000% | 1.7% |
| Port of Portland 07/01/2039 4.000% | 1.7% |
| Washington Clackamas & Yamhill Counties School District No. 88J 06/15/2031 5.000% | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 98.7% |
| Other | 0.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Oregon Intermediate Municipal Bond Fund \| Class S **\|** SSR207_16_(03/26) \|

# Columbia Oregon Intermediate Municipal Bond Fund
Institutional 2 Class \| CODRX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Oregon Intermediate Municipal Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $27 | 0.53%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298219363 |
| **Total number of portfolio holdings** | 187 |
| **Portfolio turnover for the reporting period** | 3% |

---

Columbia Oregon Intermediate Municipal Bond Fund \| Institutional 2 Class **\|** SSR207_15_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| Oregon Health & Science University 07/01/2034 5.000% | 2.5% |
| City of Portland Water System 04/01/2030 4.000% | 2.5% |
| Tri-County Metropolitan Transportation District of Oregon 10/01/2032 5.000% | 2.4% |
| Oregon Health & Science University 07/01/2032 5.000% | 1.9% |
| City of Portland Sewer System 12/01/2042 5.000% | 1.8% |
| State of Oregon Department of Transportation 11/15/2037 5.000% | 1.8% |
| State of Oregon Housing & Community Services Department 01/10/2048 4.000% | 1.7% |
| Puerto Rico Public Finance Corp. 08/01/2026 6.000% | 1.7% |
| Port of Portland 07/01/2039 4.000% | 1.7% |
| Washington Clackamas & Yamhill Counties School District No. 88J 06/15/2031 5.000% | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 98.7% |
| Other | 0.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Oregon Intermediate Municipal Bond Fund \| Institutional 2 Class **\|** SSR207_15_(03/26) \|

# Columbia Oregon Intermediate Municipal Bond Fund
Institutional 3 Class \| CORYX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Oregon Intermediate Municipal Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $25 | 0.49%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298219363 |
| **Total number of portfolio holdings** | 187 |
| **Portfolio turnover for the reporting period** | 3% |

---

Columbia Oregon Intermediate Municipal Bond Fund \| Institutional 3 Class **\|** SSR207_17_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| Oregon Health & Science University 07/01/2034 5.000% | 2.5% |
| City of Portland Water System 04/01/2030 4.000% | 2.5% |
| Tri-County Metropolitan Transportation District of Oregon 10/01/2032 5.000% | 2.4% |
| Oregon Health & Science University 07/01/2032 5.000% | 1.9% |
| City of Portland Sewer System 12/01/2042 5.000% | 1.8% |
| State of Oregon Department of Transportation 11/15/2037 5.000% | 1.8% |
| State of Oregon Housing & Community Services Department 01/10/2048 4.000% | 1.7% |
| Puerto Rico Public Finance Corp. 08/01/2026 6.000% | 1.7% |
| Port of Portland 07/01/2039 4.000% | 1.7% |
| Washington Clackamas & Yamhill Counties School District No. 88J 06/15/2031 5.000% | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 98.7% |
| Other | 0.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Oregon Intermediate Municipal Bond Fund \| Institutional 3 Class **\|** SSR207_17_(03/26) \|

# Columbia Oregon Intermediate Municipal Bond Fund
Institutional Class \| CMBFX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Oregon Intermediate Municipal Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $29 | 0.56%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298219363 |
| **Total number of portfolio holdings** | 187 |
| **Portfolio turnover for the reporting period** | 3% |

---

Columbia Oregon Intermediate Municipal Bond Fund \| Institutional Class **\|** SSR207_08_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| Oregon Health & Science University 07/01/2034 5.000% | 2.5% |
| City of Portland Water System 04/01/2030 4.000% | 2.5% |
| Tri-County Metropolitan Transportation District of Oregon 10/01/2032 5.000% | 2.4% |
| Oregon Health & Science University 07/01/2032 5.000% | 1.9% |
| City of Portland Sewer System 12/01/2042 5.000% | 1.8% |
| State of Oregon Department of Transportation 11/15/2037 5.000% | 1.8% |
| State of Oregon Housing & Community Services Department 01/10/2048 4.000% | 1.7% |
| Puerto Rico Public Finance Corp. 08/01/2026 6.000% | 1.7% |
| Port of Portland 07/01/2039 4.000% | 1.7% |
| Washington Clackamas & Yamhill Counties School District No. 88J 06/15/2031 5.000% | 1.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 98.7% |
| Other | 0.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Oregon Intermediate Municipal Bond Fund \| Institutional Class **\|** SSR207_08_(03/26) \|

# Columbia Total Return Municipal Income Fund
Class A \| COLTX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Total Return Municipal Income Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $39 | 0.75%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1704870719 |
| **Total number of portfolio holdings** | 409 |
| **Portfolio turnover for the reporting period** | 7% |

---

Columbia Total Return Municipal Income Fund \| Class A **\|** SSR233_01_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top States/Territories

---

| | |
|:---|:---|
| Texas | 12.8% |
| New York | 12.6% |
| Pennsylvania | 6.8% |
| Illinois | 6.6% |
| New Jersey | 5.1% |
| Alabama | 3.7% |
| California | 3.4% |
| Georgia | 3.2% |
| Puerto Rico | 3.1% |
| Ohio | 3.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 92.9% |
| Money Market Funds | 3.5% |
| Floating Rate Notes | 2.7% |
| Other | 0.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Total Return Municipal Income Fund \| Class A **\|** SSR233_01_(03/26) \|

# Columbia Total Return Municipal Income Fund
Class C \| COLCX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Total Return Municipal Income Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $70 | 1.35%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1704870719 |
| **Total number of portfolio holdings** | 409 |
| **Portfolio turnover for the reporting period** | 7% |

---

Columbia Total Return Municipal Income Fund \| Class C **\|** SSR233_04_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top States/Territories

---

| | |
|:---|:---|
| Texas | 12.8% |
| New York | 12.6% |
| Pennsylvania | 6.8% |
| Illinois | 6.6% |
| New Jersey | 5.1% |
| Alabama | 3.7% |
| California | 3.4% |
| Georgia | 3.2% |
| Puerto Rico | 3.1% |
| Ohio | 3.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 92.9% |
| Money Market Funds | 3.5% |
| Floating Rate Notes | 2.7% |
| Other | 0.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Total Return Municipal Income Fund \| Class C **\|** SSR233_04_(03/26) \|

# Columbia Total Return Municipal Income Fund
Class S \| CTEDX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Total Return Municipal Income Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class S | $29 | 0.55%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1704870719 |
| **Total number of portfolio holdings** | 409 |
| **Portfolio turnover for the reporting period** | 7% |

---

Columbia Total Return Municipal Income Fund \| Class S **\|** SSR233_16_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top States/Territories

---

| | |
|:---|:---|
| Texas | 12.8% |
| New York | 12.6% |
| Pennsylvania | 6.8% |
| Illinois | 6.6% |
| New Jersey | 5.1% |
| Alabama | 3.7% |
| California | 3.4% |
| Georgia | 3.2% |
| Puerto Rico | 3.1% |
| Ohio | 3.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 92.9% |
| Money Market Funds | 3.5% |
| Floating Rate Notes | 2.7% |
| Other | 0.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Total Return Municipal Income Fund \| Class S **\|** SSR233_16_(03/26) \|

# Columbia Total Return Municipal Income Fund
Institutional 2 Class \| CADMX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Total Return Municipal Income Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $28 | 0.53%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1704870719 |
| **Total number of portfolio holdings** | 409 |
| **Portfolio turnover for the reporting period** | 7% |

---

Columbia Total Return Municipal Income Fund \| Institutional 2 Class **\|** SSR233_15_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top States/Territories

---

| | |
|:---|:---|
| Texas | 12.8% |
| New York | 12.6% |
| Pennsylvania | 6.8% |
| Illinois | 6.6% |
| New Jersey | 5.1% |
| Alabama | 3.7% |
| California | 3.4% |
| Georgia | 3.2% |
| Puerto Rico | 3.1% |
| Ohio | 3.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 92.9% |
| Money Market Funds | 3.5% |
| Floating Rate Notes | 2.7% |
| Other | 0.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Total Return Municipal Income Fund \| Institutional 2 Class **\|** SSR233_15_(03/26) \|

# Columbia Total Return Municipal Income Fund
Institutional 3 Class \| CTEYX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Total Return Municipal Income Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $25 | 0.48%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1704870719 |
| **Total number of portfolio holdings** | 409 |
| **Portfolio turnover for the reporting period** | 7% |

---

Columbia Total Return Municipal Income Fund \| Institutional 3 Class **\|** SSR233_17_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top States/Territories

---

| | |
|:---|:---|
| Texas | 12.8% |
| New York | 12.6% |
| Pennsylvania | 6.8% |
| Illinois | 6.6% |
| New Jersey | 5.1% |
| Alabama | 3.7% |
| California | 3.4% |
| Georgia | 3.2% |
| Puerto Rico | 3.1% |
| Ohio | 3.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 92.9% |
| Money Market Funds | 3.5% |
| Floating Rate Notes | 2.7% |
| Other | 0.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Total Return Municipal Income Fund \| Institutional 3 Class **\|** SSR233_17_(03/26) \|

# Columbia Total Return Municipal Income Fund
Institutional Class \| CTEZX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Total Return Municipal Income Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $29 | 0.55%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1704870719 |
| **Total number of portfolio holdings** | 409 |
| **Portfolio turnover for the reporting period** | 7% |

---

Columbia Total Return Municipal Income Fund \| Institutional Class **\|** SSR233_08_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top States/Territories

---

| | |
|:---|:---|
| Texas | 12.8% |
| New York | 12.6% |
| Pennsylvania | 6.8% |
| Illinois | 6.6% |
| New Jersey | 5.1% |
| Alabama | 3.7% |
| California | 3.4% |
| Georgia | 3.2% |
| Puerto Rico | 3.1% |
| Ohio | 3.1% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 92.9% |
| Money Market Funds | 3.5% |
| Floating Rate Notes | 2.7% |
| Other | 0.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Total Return Municipal Income Fund \| Institutional Class **\|** SSR233_08_(03/26) \|

# Columbia Ultra Short Term Bond Fund
Class A \| CUSOX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Ultra Short Term Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $22 | 0.44%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1532763952 |
| **Total number of portfolio holdings** | 239 |
| **Portfolio turnover for the reporting period** | 44% |

---

Columbia Ultra Short Term Bond Fund \| Class A **\|** SSR103_01_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| GMF Floorplan Owner Revolving Trust 03/15/2029 5.130% | 1.8% |
| Ford Credit Auto Owner Trust 11/15/2034 3.880% | 1.7% |
| Nissan Master Owner Trust Receivables 02/15/2029 5.050% | 1.7% |
| Volkswagen Auto Lease Trust 06/21/2027 5.210% | 1.5% |
| Ford Credit Floorplan Master Owner Trust 05/15/2028 4.920% | 1.4% |
| GMF Floorplan Owner Revolving Trust 06/15/2028 5.340% | 1.3% |
| GS Mortgage Securities Corp. II 09/10/2038 4.322% | 1.0% |
| Bank of America Corp. 09/15/2027 5.000% | 1.0% |
| U.S. Treasury Bills 02/05/2026 | 1.0% |
| Citigroup, Inc. 06/09/2027 1.462% | 1.0% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 46.6% |
| Asset-Backed Securities - Non-Agency | 31.7% |
| Residential Mortgage-Backed Securities - Non-Agency | 9.7% |
| Commercial Mortgage-Backed Securities - Non-Agency | 7.0% |
| Money Market Funds | 2.1% |
| Treasury Bills | 1.0% |
| Other | 2.0% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Ultra Short Term Bond Fund \| Class A **\|** SSR103_01_(03/26) \|

# Columbia Ultra Short Term Bond Fund
Institutional 3 Class \| CMGUX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Ultra Short Term Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $12 | 0.24%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1532763952 |
| **Total number of portfolio holdings** | 239 |
| **Portfolio turnover for the reporting period** | 44% |

---

Columbia Ultra Short Term Bond Fund \| Institutional 3 Class **\|** SSR103_17_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| GMF Floorplan Owner Revolving Trust 03/15/2029 5.130% | 1.8% |
| Ford Credit Auto Owner Trust 11/15/2034 3.880% | 1.7% |
| Nissan Master Owner Trust Receivables 02/15/2029 5.050% | 1.7% |
| Volkswagen Auto Lease Trust 06/21/2027 5.210% | 1.5% |
| Ford Credit Floorplan Master Owner Trust 05/15/2028 4.920% | 1.4% |
| GMF Floorplan Owner Revolving Trust 06/15/2028 5.340% | 1.3% |
| GS Mortgage Securities Corp. II 09/10/2038 4.322% | 1.0% |
| Bank of America Corp. 09/15/2027 5.000% | 1.0% |
| U.S. Treasury Bills 02/05/2026 | 1.0% |
| Citigroup, Inc. 06/09/2027 1.462% | 1.0% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 46.6% |
| Asset-Backed Securities - Non-Agency | 31.7% |
| Residential Mortgage-Backed Securities - Non-Agency | 9.7% |
| Commercial Mortgage-Backed Securities - Non-Agency | 7.0% |
| Money Market Funds | 2.1% |
| Treasury Bills | 1.0% |
| Other | 2.0% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Ultra Short Term Bond Fund \| Institutional 3 Class **\|** SSR103_17_(03/26) \|

# Columbia Ultra Short Term Bond Fund
Institutional Class \| CUSBX

![Image](g270970g85y63.jpg)

## Semi-Annual Shareholder Report \| January 31, 2026
This semi-annual shareholder report contains important information about Columbia Ultra Short Term Bond Fund (the Fund) for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at columbiathreadneedleus.com/resources/literature. You can also request more information by contacting us at 1-800-345-6611.

## What were the Fund costs for the reporting period?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $15 | 0.29%<sup>Footnote Reference(a)</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;*Footnote<sup>(a)</sup>*  | &nbsp;&nbsp;*Annualized* |

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1532763952 |
| **Total number of portfolio holdings** | 239 |
| **Portfolio turnover for the reporting period** | 44% |

---

Columbia Ultra Short Term Bond Fund \| Institutional Class **\|** SSR103_08_(03/26) \|

## Graphical Representation of Fund Holdings
The tables below show the investment makeup of the Fund represented as a percentage of Fund net assets. Derivatives are excluded from the tables unless otherwise noted. The Fund's portfolio composition is subject to change.

### Top Holdings

---

| | |
|:---|:---|
| GMF Floorplan Owner Revolving Trust 03/15/2029 5.130% | 1.8% |
| Ford Credit Auto Owner Trust 11/15/2034 3.880% | 1.7% |
| Nissan Master Owner Trust Receivables 02/15/2029 5.050% | 1.7% |
| Volkswagen Auto Lease Trust 06/21/2027 5.210% | 1.5% |
| Ford Credit Floorplan Master Owner Trust 05/15/2028 4.920% | 1.4% |
| GMF Floorplan Owner Revolving Trust 06/15/2028 5.340% | 1.3% |
| GS Mortgage Securities Corp. II 09/10/2038 4.322% | 1.0% |
| Bank of America Corp. 09/15/2027 5.000% | 1.0% |
| U.S. Treasury Bills 02/05/2026 | 1.0% |
| Citigroup, Inc. 06/09/2027 1.462% | 1.0% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 46.6% |
| Asset-Backed Securities - Non-Agency | 31.7% |
| Residential Mortgage-Backed Securities - Non-Agency | 9.7% |
| Commercial Mortgage-Backed Securities - Non-Agency | 7.0% |
| Money Market Funds | 2.1% |
| Treasury Bills | 1.0% |
| Other | 2.0% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, visit the Fund's website included at the beginning of this report or scan the QR code below.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g270970g15n76.jpg)

The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.© 2026 Columbia Threadneedle. All rights reserved.

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

Columbia Ultra Short Term Bond Fund \| Institutional Class **\|** SSR103_08_(03/26) \|

------

#### Item 2. Code of Ethics.
Not applicable.

#### Item 3. Audit Committee Financial Expert.
Not applicable.

#### Item 4. Principal Accountant Fees and Services.
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 7 of this Form N-CSR.

(b) Not applicable.

#### Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

![](g270970img1ebe6de41.jpg)

Columbia Cornerstone Growth Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_84d8a96b-ee6a-4e7a-b1b7-3e5c6aad55a2_POI-CommonContent-Date-91_1) | 3 |
| [Statement of Assets and Liabilities](#xx_84d8a96b-ee6a-4e7a-b1b7-3e5c6aad55a2_FS-CommonContent-Date-91_1) | 6 |
| [Statement of Operations](#xx_84d8a96b-ee6a-4e7a-b1b7-3e5c6aad55a2_FS-CommonContent-Date-91_3) | 8 |
| [Statement of Changes in Net Assets](#xx_84d8a96b-ee6a-4e7a-b1b7-3e5c6aad55a2_FS-CommonContent-Date-91_4) | 9 |
| [Financial Highlights](#xx_84d8a96b-ee6a-4e7a-b1b7-3e5c6aad55a2_FIHI-CommonContent-Date-91_2) | 12 |
| [Notes to Financial Statements](#xx_84d8a96b-ee6a-4e7a-b1b7-3e5c6aad55a2_NTF-CommonContent-Date-91_1) | 16 |

---

Columbia Cornerstone Growth Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks 99.6%** | **Common Stocks 99.6%** | **Common Stocks 99.6%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 15.5%** | **Communication Services 15.5%** | **Communication Services 15.5%** |
| **Entertainment 2.6%** | **Entertainment 2.6%** | **Entertainment 2.6%** |
| Netflix, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1444608 | &nbsp;&nbsp; 120610322 |
| TKO Group Holdings, Inc. | &nbsp;&nbsp; 221117 | &nbsp;&nbsp; 44793882 |
| Total |  | &nbsp;&nbsp; 165404204 |
| **Interactive Media & Services 12.9%** | **Interactive Media & Services 12.9%** | **Interactive Media & Services 12.9%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp; 1107661 | &nbsp;&nbsp; 374389418 |
| Alphabet, Inc., Class C | &nbsp;&nbsp; 410266 | &nbsp;&nbsp; 138887349 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 427521 | &nbsp;&nbsp; 306318796 |
| Total |  | &nbsp;&nbsp; 819595563 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **984999767** |
| **Consumer Discretionary 14.4%** | **Consumer Discretionary 14.4%** | **Consumer Discretionary 14.4%** |
| **Automobiles 1.6%** | **Automobiles 1.6%** | **Automobiles 1.6%** |
| Tesla, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 237153 | &nbsp;&nbsp; 102073023 |
| **Broadline Retail 6.5%** | **Broadline Retail 6.5%** | **Broadline Retail 6.5%** |
| Amazon.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1725222 | &nbsp;&nbsp; 412845625 |
| **Hotels, Restaurants & Leisure 3.6%** | **Hotels, Restaurants & Leisure 3.6%** | **Hotels, Restaurants & Leisure 3.6%** |
| DraftKings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 1438876 | &nbsp;&nbsp; 39583479 |
| Expedia Group, Inc. | &nbsp;&nbsp; 198322 | &nbsp;&nbsp; 52523598 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp; 198088 | &nbsp;&nbsp; 59131249 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp; 221862 | &nbsp;&nbsp; 72027498 |
| Total |  | &nbsp;&nbsp; 223265824 |
| **Specialty Retail 2.0%** | **Specialty Retail 2.0%** | **Specialty Retail 2.0%** |
| Gap, Inc. (The) | &nbsp;&nbsp; 2273773 | &nbsp;&nbsp; 63620169 |
| TJX Companies, Inc. (The) | &nbsp;&nbsp; 429450 | &nbsp;&nbsp; 64335904 |
| Total |  | &nbsp;&nbsp; 127956073 |
| **Textiles, Apparel & Luxury Goods 0.7%** | **Textiles, Apparel & Luxury Goods 0.7%** | **Textiles, Apparel & Luxury Goods 0.7%** |
| NIKE, Inc., Class B | &nbsp;&nbsp; 715988 | &nbsp;&nbsp; 44255218 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **910395763** |
| **Consumer Staples 2.9%** | **Consumer Staples 2.9%** | **Consumer Staples 2.9%** |
| **Consumer Staples Distribution & Retail 2.1%** | **Consumer Staples Distribution & Retail 2.1%** | **Consumer Staples Distribution & Retail 2.1%** |
| Costco Wholesale Corp. | &nbsp;&nbsp; 144186 | &nbsp;&nbsp; 135570887 |
| **Household Products 0.8%** | **Household Products 0.8%** | **Household Products 0.8%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 541453 | &nbsp;&nbsp; 48887791 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **184458678** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Financials 5.7%** | **Financials 5.7%** | **Financials 5.7%** |
| **Banks 2.0%** | **Banks 2.0%** | **Banks 2.0%** |
| Bank of America Corp. | &nbsp;&nbsp; 1221234 | &nbsp;&nbsp; 64969649 |
| Citigroup, Inc. | &nbsp;&nbsp; 523646 | &nbsp;&nbsp; 60591079 |
| Total |  | &nbsp;&nbsp; 125560728 |
| **Capital Markets 1.0%** | **Capital Markets 1.0%** | **Capital Markets 1.0%** |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 66645 | &nbsp;&nbsp; 62340399 |
| **Financial Services 2.7%** | **Financial Services 2.7%** | **Financial Services 2.7%** |
| Visa, Inc., Class A | &nbsp;&nbsp; 529357 | &nbsp;&nbsp; 170362963 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **358264090** |
| **Health Care 8.3%** | **Health Care 8.3%** | **Health Care 8.3%** |
| **Biotechnology 2.9%** | **Biotechnology 2.9%** | **Biotechnology 2.9%** |
| Argenx SE, ADR<sup>(a)</sup> <br>| &nbsp;&nbsp; 37726 | &nbsp;&nbsp; 31708703 |
| Insmed, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 403741 | &nbsp;&nbsp; 63334851 |
| Revolution Medicines, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 388669 | &nbsp;&nbsp; 37681459 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 113934 | &nbsp;&nbsp; 53537587 |
| Total |  | &nbsp;&nbsp; 186262600 |
| **Health Care Equipment & Supplies 1.0%** | **Health Care Equipment & Supplies 1.0%** | **Health Care Equipment & Supplies 1.0%** |
| Intuitive Surgical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 129560 | &nbsp;&nbsp; 65326743 |
| **Life Sciences Tools & Services 0.7%** | **Life Sciences Tools & Services 0.7%** | **Life Sciences Tools & Services 0.7%** |
| Illumina, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 303214 | &nbsp;&nbsp; 43908420 |
| **Pharmaceuticals 3.7%** | **Pharmaceuticals 3.7%** | **Pharmaceuticals 3.7%** |
| Eli Lilly & Co. | &nbsp;&nbsp; 224102 | &nbsp;&nbsp; 232427389 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **527925152** |
| **Industrials 4.3%** | **Industrials 4.3%** | **Industrials 4.3%** |
| **Aerospace & Defense 0.8%** | **Aerospace & Defense 0.8%** | **Aerospace & Defense 0.8%** |
| General Dynamics Corp. | &nbsp;&nbsp; 136004 | &nbsp;&nbsp; 47749645 |
| **Commercial Services & Supplies 0.6%** | **Commercial Services & Supplies 0.6%** | **Commercial Services & Supplies 0.6%** |
| Cintas Corp. | &nbsp;&nbsp; 215295 | &nbsp;&nbsp; 41205310 |
| **Electrical Equipment 1.6%** | **Electrical Equipment 1.6%** | **Electrical Equipment 1.6%** |
| Eaton Corp. PLC | &nbsp;&nbsp; 96005 | &nbsp;&nbsp; 33738077 |
| Vertiv Holdings Co. | &nbsp;&nbsp; 368182 | &nbsp;&nbsp; 68548125 |
| Total |  | &nbsp;&nbsp; 102286202 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Ground Transportation 1.3%** | **Ground Transportation 1.3%** | **Ground Transportation 1.3%** |
| Uber Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 990707 | &nbsp;&nbsp; 79306095 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **270547252** |
| **Information Technology 47.8%** | **Information Technology 47.8%** | **Information Technology 47.8%** |
| **Communications Equipment 1.3%** | **Communications Equipment 1.3%** | **Communications Equipment 1.3%** |
| Arista Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 592237 | &nbsp;&nbsp; 83943672 |
| **Electronic Equipment, Instruments & Components 0.9%** | **Electronic Equipment, Instruments & Components 0.9%** | **Electronic Equipment, Instruments & Components 0.9%** |
| TE Connectivity PLC | &nbsp;&nbsp; 240332 | &nbsp;&nbsp; 53541163 |
| **Semiconductors & Semiconductor Equipment 20.6%** | **Semiconductors & Semiconductor Equipment 20.6%** | **Semiconductors & Semiconductor Equipment 20.6%** |
| Advanced Micro Devices, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 382196 | &nbsp;&nbsp; 90477259 |
| Broadcom, Inc. | &nbsp;&nbsp; 909489 | &nbsp;&nbsp; 301313706 |
| Micron Technology, Inc. | &nbsp;&nbsp; 130326 | &nbsp;&nbsp; 54069651 |
| NVIDIA Corp. | &nbsp;&nbsp; 4506065 | &nbsp;&nbsp; 861244203 |
| Total |  | &nbsp;&nbsp; 1307104819 |
| **Software 14.6%** | **Software 14.6%** | **Software 14.6%** |
| Atlassian Corp., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 450181 | &nbsp;&nbsp; 53202391 |
| Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 142567 | &nbsp;&nbsp; 62929787 |
| Microsoft Corp. | &nbsp;&nbsp; 1424261 | &nbsp;&nbsp; 612845266 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 246210 | &nbsp;&nbsp; 36091924 |
| Palo Alto Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 451288 | &nbsp;&nbsp; 79864437 |
| ServiceNow, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 676529 | &nbsp;&nbsp; 79160658 |
| Total |  | &nbsp;&nbsp; 924094463 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Technology Hardware, Storage & Peripherals 10.4%** | **Technology Hardware, Storage & Peripherals 10.4%** | **Technology Hardware, Storage & Peripherals 10.4%** |
| Apple, Inc. | &nbsp;&nbsp; 2543013 | &nbsp;&nbsp; 659861013 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **3028545130** |
| **Real Estate 0.7%** | **Real Estate 0.7%** | **Real Estate 0.7%** |
| **Specialized REITs 0.7%** | **Specialized REITs 0.7%** | **Specialized REITs 0.7%** |
| Equinix, Inc. | &nbsp;&nbsp; 57678 | &nbsp;&nbsp; 47349601 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **47349601** |
| Total Common Stocks <br>(Cost $2,275,844,055) | Total Common Stocks <br>(Cost $2,275,844,055) | &nbsp;&nbsp; **6312485433** |
| **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 8882748 | &nbsp;&nbsp; 8880083 |
| Total Money Market Funds <br>(Cost $8,881,702) | Total Money Market Funds <br>(Cost $8,881,702) | &nbsp;&nbsp; **8880083** |
| **Total Investments in Securities** <br>**(Cost: $2,284,725,757)** | **Total Investments in Securities** <br>**(Cost: $2,284,725,757)** | &nbsp;&nbsp; **6321365516** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **13952195** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **6335317711** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing investment.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The rate shown is the seven-day current annualized yield at January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Under the Investment Company Act of 1940, 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 January 31, 2026 are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Capital gain** <br>**distributions($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends —** <br>**affiliated** <br>**issuers ($)**<br>| **End of** <br>**period shares**<br>|
| Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  | Columbia Research Enhanced Core ETF  |
|  | 18932875 |  | (17923992)<br>| (1008883)<br>|  |  | 2248655 |  |  |
| Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  |
|  | 27881905 | 288640052 | (307641245)<br>| (629)<br>| 8880083 |  | (3321)<br>| 583329 | 8882748 |
| Total | 46814780 |  |  | (1009512)<br>| 8880083 |  | 2245334 | 583329 |  |

---

**Abbreviation Legend** 

ADR American Depositary Receipt

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements** 

The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund's assumptions about the information market participants would use in pricing an investment. An investment's level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset's or liability's fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

■

Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

■

Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

■

Level 3 — Valuations based on significant unobservable inputs (including the Fund's own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment's fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category, if any, are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The Fund's Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager's organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 984999767 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 984999767 |
| Consumer Discretionary | 910395763 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 910395763 |
| Consumer Staples | 184458678 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 184458678 |
| Financials | 358264090 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 358264090 |
| Health Care | 527925152 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 527925152 |
| Industrials | 270547252 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 270547252 |
| Information Technology | 3028545130 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3028545130 |
| Real Estate | 47349601 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 47349601 |
| Total Common Stocks | 6312485433 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6312485433 |
| Money Market Funds | 8880083 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8880083 |
| Total Investments in Securities | 6321365516 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6321365516 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $2,275,844,055) | $6312485433 |
| Affiliated issuers (cost $8,881,702) | 8880083 |
| Receivable for: |  |
| Investments sold | 171963037 |
| Capital shares sold | 1540474 |
| Dividends | 696818 |
| Prepaid expenses | 16576 |
| Deferred compensation of board members | 537614 |
| Other assets | 44287 |
| Total assets | 6496164322 |
| **Liabilities** |  |
| Payable for: |  |
| Investments purchased | 157488997 |
| Capital shares redeemed | 2177936 |
| Management services fees | 110580 |
| Distribution and/or service fees | 25543 |
| Transfer agent fees | 288130 |
| Compensation of chief compliance officer | 524 |
| Compensation of board members | 3582 |
| Other expenses | 70884 |
| Deferred compensation of board members | 680435 |
| Total liabilities | 160846611 |
| **Net assets applicable to outstanding capital stock** | **$6335317711** |
| **Represented by** |  |
| Paid in capital | 2022720823 |
| Total distributable earnings (loss) | 4312596888 |
| **Total - representing net assets applicable to outstanding capital stock** | **$6335317711** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Statement of Assets and Liabilities (continued)

January 31, 2026 (Unaudited)

---

| | |
|:---|:---|
| **Class A** |  |
| Net assets | $3446052764 |
| Shares outstanding | 46179937 |
| Net asset value per share | $74.62 |
| 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) | $79.17 |
| **Class C** |  |
| Net assets | $45776743 |
| Shares outstanding | 914140 |
| Net asset value per share | $50.08 |
| **Class E** |  |
| Net assets | $15015171 |
| Shares outstanding | 206102 |
| Net asset value per share | $72.85 |
| Maximum sales charge  | 4.50% |
| Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class E shares) | $76.28 |
| **Institutional Class** |  |
| Net assets | $1637674622 |
| Shares outstanding | 20219972 |
| Net asset value per share | $80.99 |
| **Institutional 2 Class** |  |
| Net assets | $105189825 |
| Shares outstanding | 1294359 |
| Net asset value per share | $81.27 |
| **Institutional 3 Class** |  |
| Net assets | $854003060 |
| Shares outstanding | 10429005 |
| Net asset value per share | $81.89 |
| **Class R** |  |
| Net assets | $22758623 |
| Shares outstanding | 315042 |
| Net asset value per share | $72.24 |
| **Class S** |  |
| Net assets | $208846903 |
| Shares outstanding | 2578571 |
| Net asset value per share | $80.99 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $15535623 |
| Dividends — affiliated issuers | 583329 |
| Total income | 16118952 |
| Expenses: |  |
| Management services fees | 20397115 |
| Distribution and/or service fees |  |
| Class A | 4416313 |
| Class C | 237393 |
| Class E | 27469 |
| Class R | 57885 |
| Transfer agent fees |  |
| Class A | 1214883 |
| Class C | 16331 |
| Class E | 19245 |
| Institutional Class | 562723 |
| Institutional 2 Class | 27431 |
| Institutional 3 Class | 16151 |
| Class R | 7962 |
| Class S | 73905 |
| Custodian fees | 14229 |
| Printing and postage fees | 73518 |
| Registration fees | 95736 |
| Accounting services fees | 16356 |
| Legal fees | 57627 |
| Compensation of chief compliance officer | 523 |
| Compensation of board members | 39423 |
| Deferred compensation of board members | 21394 |
| Other | 48703 |
| Total expenses | 27442315 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (4909)<br>|
| Expense reduction | (5118)<br>|
| Total net expenses | 27432288 |
| **Net investment loss** | (11313336)<br>|
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 484467086 |
| Investments — affiliated issuers | 2245334 |
| Net realized gain | 486712420 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | (114065590)<br>|
| Investments — affiliated issuers | (1009512)<br>|
| Net change in unrealized appreciation (depreciation) | (115075102)<br>|
| Net realized and unrealized gain | 371637318 |
| **Net increase in net assets resulting from operations** | **$360323982** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment loss | $(11313336)<br>| &nbsp;&nbsp; $(20784424)<br>|
| Net realized gain | 486712420 | &nbsp;&nbsp; 466040560 |
| Net change in unrealized appreciation (depreciation) | (115075102)<br>| &nbsp;&nbsp; 632233952 |
| Net increase in net assets resulting from operations | 360323982 | &nbsp;&nbsp; 1077490088 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (304905095)<br>| &nbsp;&nbsp; (181820409)<br>|
| Class C | (5666001)<br>| &nbsp;&nbsp; (3572830)<br>|
| Class E | (1335682)<br>| &nbsp;&nbsp; (953430)<br>|
| Institutional Class | (135547687)<br>| &nbsp;&nbsp; (73911998)<br>|
| Institutional 2 Class | (8818853)<br>| &nbsp;&nbsp; (3857828)<br>|
| Institutional 3 Class | (71570015)<br>| &nbsp;&nbsp; (44295650)<br>|
| Class R | (2005827)<br>| &nbsp;&nbsp; (1119295)<br>|
| Class S | (17720973)<br>| &nbsp;&nbsp; (10632086)<br>|
| Total distributions to shareholders | (547570133)<br>| &nbsp;&nbsp; (320163526)<br>|
| Increase (decrease) in net assets from capital stock activity | 271894053 | &nbsp;&nbsp; (203722393)<br>|
| Total increase in net assets | 84647902 | &nbsp;&nbsp; 553604169 |
| Net assets at beginning of period | 6250669809 | &nbsp;&nbsp; 5697065640 |
| **Net assets at end of period** | **$6335317711** | &nbsp;&nbsp; **$6250669809** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Statement of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 447151 | &nbsp;&nbsp;&nbsp;&nbsp; 34920150 | &nbsp;&nbsp;&nbsp;&nbsp; 1197482 | &nbsp;&nbsp;&nbsp;&nbsp; 84280566 |
| Distributions reinvested | 3766650 | &nbsp;&nbsp;&nbsp;&nbsp; 288939705 | &nbsp;&nbsp;&nbsp;&nbsp; 2341590 | &nbsp;&nbsp;&nbsp;&nbsp; 172036637 |
| Shares redeemed | (2639833)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (207191384)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5075763)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (354655071)<br>|
| Net increase (decrease) | 1573968 | &nbsp;&nbsp;&nbsp;&nbsp; 116668471 | &nbsp;&nbsp;&nbsp;&nbsp; (1536691)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (98337868)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34962 | &nbsp;&nbsp;&nbsp;&nbsp; 2704904 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (421200)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (34329427)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (386238)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (31624523)<br>|
| Class C |  |  |  |  |
| Shares sold | 56194 | &nbsp;&nbsp;&nbsp;&nbsp; 3033864 | &nbsp;&nbsp;&nbsp;&nbsp; 177417 | &nbsp;&nbsp;&nbsp;&nbsp; 8715585 |
| Distributions reinvested | 107795 | &nbsp;&nbsp;&nbsp;&nbsp; 5555758 | &nbsp;&nbsp;&nbsp;&nbsp; 66892 | &nbsp;&nbsp;&nbsp;&nbsp; 3448935 |
| Shares redeemed | (114792)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6184304)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (312334)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (15522588)<br>|
| Net increase (decrease) | 49197 | &nbsp;&nbsp;&nbsp;&nbsp; 2405318 | &nbsp;&nbsp;&nbsp;&nbsp; (68025)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3358068)<br>|
| Class E |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 4146 |
| Distributions reinvested | 17826 | &nbsp;&nbsp;&nbsp;&nbsp; 1335682 | &nbsp;&nbsp;&nbsp;&nbsp; 13261 | &nbsp;&nbsp;&nbsp;&nbsp; 953430 |
| Shares redeemed | (18741)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1429195)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (57244)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3988660)<br>|
| Net decrease | (915)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (93513)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (43967)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3031084)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 1589685 | &nbsp;&nbsp;&nbsp;&nbsp; 135033021 | &nbsp;&nbsp;&nbsp;&nbsp; 3048960 | &nbsp;&nbsp;&nbsp;&nbsp; 231524425 |
| Distributions reinvested | 1519700 | &nbsp;&nbsp;&nbsp;&nbsp; 126484673 | &nbsp;&nbsp;&nbsp;&nbsp; 859894 | &nbsp;&nbsp;&nbsp;&nbsp; 68060637 |
| Shares redeemed | (1396961)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (119300959)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6106574)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (455553078)<br>|
| Net increase (decrease) | 1712424 | &nbsp;&nbsp;&nbsp;&nbsp; 142216735 | &nbsp;&nbsp;&nbsp;&nbsp; (2197720)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (155968016)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 207413 | &nbsp;&nbsp;&nbsp;&nbsp; 17838567 | &nbsp;&nbsp;&nbsp;&nbsp; 512556 | &nbsp;&nbsp;&nbsp;&nbsp; 38809465 |
| Distributions reinvested | 105469 | &nbsp;&nbsp;&nbsp;&nbsp; 8807753 | &nbsp;&nbsp;&nbsp;&nbsp; 48477 | &nbsp;&nbsp;&nbsp;&nbsp; 3848627 |
| Shares redeemed | (170951)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14493162)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (301005)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (22916976)<br>|
| Net increase | 141931 | &nbsp;&nbsp;&nbsp;&nbsp; 12153158 | &nbsp;&nbsp;&nbsp;&nbsp; 260028 | &nbsp;&nbsp;&nbsp;&nbsp; 19741116 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 445164 | &nbsp;&nbsp;&nbsp;&nbsp; 37510980 | &nbsp;&nbsp;&nbsp;&nbsp; 1444640 | &nbsp;&nbsp;&nbsp;&nbsp; 103191784 |
| Distributions reinvested | 640633 | &nbsp;&nbsp;&nbsp;&nbsp; 53902847 | &nbsp;&nbsp;&nbsp;&nbsp; 417587 | &nbsp;&nbsp;&nbsp;&nbsp; 33381881 |
| Shares redeemed | (1127731)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (97818006)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3450210)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (263469230)<br>|
| Net decrease | (41934)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6404179)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1587983)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (126895565)<br>|
| Class R |  |  |  |  |
| Shares sold | 21685 | &nbsp;&nbsp;&nbsp;&nbsp; 1644953 | &nbsp;&nbsp;&nbsp;&nbsp; 80407 | &nbsp;&nbsp;&nbsp;&nbsp; 5418576 |
| Distributions reinvested | 26078 | &nbsp;&nbsp;&nbsp;&nbsp; 1937314 | &nbsp;&nbsp;&nbsp;&nbsp; 14937 | &nbsp;&nbsp;&nbsp;&nbsp; 1065905 |
| Shares redeemed | (33850)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2575725)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (57548)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3828711)<br>|
| Net increase | 13913 | &nbsp;&nbsp;&nbsp;&nbsp; 1006542 | &nbsp;&nbsp;&nbsp;&nbsp; 37796 | &nbsp;&nbsp;&nbsp;&nbsp; 2655770 |
| Class S |  |  |  |  |
| Shares sold | 2508 | &nbsp;&nbsp;&nbsp;&nbsp; 211733 | &nbsp;&nbsp;&nbsp;&nbsp; 2695713 | &nbsp;&nbsp;&nbsp;&nbsp; 205156521 |
| Distributions reinvested | 212271 | &nbsp;&nbsp;&nbsp;&nbsp; 17667314 | &nbsp;&nbsp;&nbsp;&nbsp; 134328 | &nbsp;&nbsp;&nbsp;&nbsp; 10632086 |
| Shares redeemed | (165555)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13937526)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (300694)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (22692762)<br>|
| Net increase | 49224 | &nbsp;&nbsp;&nbsp;&nbsp; 3941521 | &nbsp;&nbsp;&nbsp;&nbsp; 2529347 | &nbsp;&nbsp;&nbsp;&nbsp; 193095845 |
| **Total net increase (decrease)** | **3497808** | &nbsp;&nbsp;&nbsp;&nbsp; **271894053** | &nbsp;&nbsp;&nbsp;&nbsp; **(2993453)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(203722393)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

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Columbia Cornerstone Growth Fund \| 2026

------

Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $77.10 | &nbsp;&nbsp; (0.18)<br>| 4.73 | 4.55 | &nbsp;&nbsp; — | &nbsp;&nbsp; (7.03)<br>| &nbsp;&nbsp; (7.03)<br>|
| Year Ended 7/31/2025 | $67.86 | &nbsp;&nbsp; (0.33)<br>| 13.62 | 13.29 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|
| Year Ended 7/31/2024 | $55.73 | &nbsp;&nbsp; (0.18)<br>| 14.82 | 14.64 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.51)<br>|
| Year Ended 7/31/2023 | $47.59 | &nbsp;&nbsp; (0.04)<br>| 8.18 | 8.14 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2022 | $62.66 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (9.54)<br>| &nbsp;&nbsp; (9.67)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5.40)<br>| &nbsp;&nbsp; (5.40)<br>|
| Year Ended 7/31/2021 | $50.90 | &nbsp;&nbsp; (0.11)<br>| 18.52 | 18.41 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (6.58)<br>| &nbsp;&nbsp; (6.65)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $53.85 | &nbsp;&nbsp; (0.33)<br>| 3.36 | 3.03 | &nbsp;&nbsp; — | &nbsp;&nbsp; (6.80)<br>| &nbsp;&nbsp; (6.80)<br>|
| Year Ended 7/31/2025 | $48.81 | &nbsp;&nbsp; (0.60)<br>| 9.69 | 9.09 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|
| Year Ended 7/31/2024 | $41.05 | &nbsp;&nbsp; (0.46)<br>| 10.73 | 10.27 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.51)<br>|
| Year Ended 7/31/2023 | $35.33 | &nbsp;&nbsp; (0.29)<br>| 6.01 | 5.72 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2022 | $47.73 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (7.05)<br>| &nbsp;&nbsp; (7.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (4.94)<br>| &nbsp;&nbsp; (4.94)<br>|
| Year Ended 7/31/2021 | $40.39 | &nbsp;&nbsp; (0.39)<br>| 14.31 | 13.92 | &nbsp;&nbsp; — | &nbsp;&nbsp; (6.58)<br>| &nbsp;&nbsp; (6.58)<br>|
| **Class E** | **Class E** | **Class E** | **Class E** | **Class E** | **Class E** | **Class E** | **Class E** |
| Six Months Ended 1/31/2026 (Unaudited) | $75.33 | &nbsp;&nbsp; (0.28)<br>| 4.62 | 4.34 | &nbsp;&nbsp; — | &nbsp;&nbsp; (6.82)<br>| &nbsp;&nbsp; (6.82)<br>|
| Year Ended 7/31/2025 | $66.54 | &nbsp;&nbsp; (0.50)<br>| 13.34 | 12.84 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|
| Year Ended 7/31/2024 | $54.85 | &nbsp;&nbsp; (0.35)<br>| 14.55 | 14.20 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.51)<br>|
| Year Ended 7/31/2023 | $47.01 | &nbsp;&nbsp; (0.21)<br>| 8.05 | 7.84 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2022 | $61.99 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (9.46)<br>| &nbsp;&nbsp; (9.75)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5.23)<br>| &nbsp;&nbsp; (5.23)<br>|
| Year Ended 7/31/2021 | $50.50 | &nbsp;&nbsp; (0.26)<br>| 18.35 | 18.09 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (6.58)<br>| &nbsp;&nbsp; (6.60)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $83.20 | &nbsp;&nbsp; (0.09)<br>| 5.10 | 5.01 | &nbsp;&nbsp; — | &nbsp;&nbsp; (7.22)<br>| &nbsp;&nbsp; (7.22)<br>|
| Year Ended 7/31/2025 | $72.77 | &nbsp;&nbsp; (0.16)<br>| 14.64 | 14.48 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|
| Year Ended 7/31/2024 | $59.45 | &nbsp;&nbsp; (0.04)<br>| 15.87 | 15.83 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.51)<br>|
| Year Ended 7/31/2023 | $50.64 | 0.08 | 8.73 | 8.81 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2022 | $66.34 | 0.01 | &nbsp;&nbsp; (10.16)<br>| &nbsp;&nbsp; (10.15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5.55)<br>| &nbsp;&nbsp; (5.55)<br>|
| Year Ended 7/31/2021 | $53.52 | 0.03 | 19.56 | 19.59 | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; (6.58)<br>| &nbsp;&nbsp; (6.77)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $83.46 | &nbsp;&nbsp; (0.09)<br>| 5.13 | 5.04 | &nbsp;&nbsp; — | &nbsp;&nbsp; (7.23)<br>| &nbsp;&nbsp; (7.23)<br>|
| Year Ended 7/31/2025 | $72.97 | &nbsp;&nbsp; (0.15)<br>| 14.69 | 14.54 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|
| Year Ended 7/31/2024 | $59.60 | &nbsp;&nbsp; (0.05)<br>| 15.93 | 15.88 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.51)<br>|
| Year Ended 7/31/2023 | $50.75 | 0.17 | 8.68 | 8.85 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2022 | $66.47 | 0.02 | &nbsp;&nbsp; (10.18)<br>| &nbsp;&nbsp; (10.16)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5.56)<br>| &nbsp;&nbsp; (5.56)<br>|
| Year Ended 7/31/2021 | $53.62 | &nbsp;&nbsp; (0.00)<br>| 19.64 | 19.64 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (6.58)<br>| &nbsp;&nbsp; (6.79)<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $74.62 | &nbsp;&nbsp;&nbsp;&nbsp; 5.66% | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.46%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $3446053 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $77.10 | &nbsp;&nbsp;&nbsp;&nbsp; 19.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.97% | &nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.47%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $3439215 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $67.86 | &nbsp;&nbsp;&nbsp;&nbsp; 27.17% | &nbsp;&nbsp;&nbsp;&nbsp; 0.98% | &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.31%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 39% | &nbsp;&nbsp;&nbsp;&nbsp; $3131030 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $55.73 | &nbsp;&nbsp;&nbsp;&nbsp; 17.10% | &nbsp;&nbsp;&nbsp;&nbsp; 1.00% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.00% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.10%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 45% | &nbsp;&nbsp;&nbsp;&nbsp; $2388322 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $47.59 | &nbsp;&nbsp;&nbsp;&nbsp; (17.35%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.23%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 46% | &nbsp;&nbsp;&nbsp;&nbsp; $2203137 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $62.66 | &nbsp;&nbsp;&nbsp;&nbsp; 39.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.99% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.99% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.21%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 52% | &nbsp;&nbsp;&nbsp;&nbsp; $2900684 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $50.08 | &nbsp;&nbsp;&nbsp;&nbsp; 5.27% | &nbsp;&nbsp;&nbsp;&nbsp; 1.71% | &nbsp;&nbsp;&nbsp;&nbsp; 1.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.21%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $45777 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $53.85 | &nbsp;&nbsp;&nbsp;&nbsp; 18.99% | &nbsp;&nbsp;&nbsp;&nbsp; 1.72% | &nbsp;&nbsp;&nbsp;&nbsp; 1.72% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.22%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $46576 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $48.81 | &nbsp;&nbsp;&nbsp;&nbsp; 26.21% | &nbsp;&nbsp;&nbsp;&nbsp; 1.73% | &nbsp;&nbsp;&nbsp;&nbsp; 1.73% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.05%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 39% | &nbsp;&nbsp;&nbsp;&nbsp; $45536 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $41.05 | &nbsp;&nbsp;&nbsp;&nbsp; 16.19% | &nbsp;&nbsp;&nbsp;&nbsp; 1.75% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.75% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.83%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 45% | &nbsp;&nbsp;&nbsp;&nbsp; $41296 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $35.33 | &nbsp;&nbsp;&nbsp;&nbsp; (17.96%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.73% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.73% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.96%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 46% | &nbsp;&nbsp;&nbsp;&nbsp; $44314 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $47.73 | &nbsp;&nbsp;&nbsp;&nbsp; 38.22% | &nbsp;&nbsp;&nbsp;&nbsp; 1.74% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.93%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 52% | &nbsp;&nbsp;&nbsp;&nbsp; $81519 |
| **Class E** | **Class E** | **Class E** | **Class E** | **Class E** | **Class E** | **Class E** | **Class E** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $72.85 | &nbsp;&nbsp;&nbsp;&nbsp; 5.51% | &nbsp;&nbsp;&nbsp;&nbsp; 1.24% | &nbsp;&nbsp;&nbsp;&nbsp; 1.24% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.74%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $15015 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $75.33 | &nbsp;&nbsp;&nbsp;&nbsp; 19.59% | &nbsp;&nbsp;&nbsp;&nbsp; 1.24% | &nbsp;&nbsp;&nbsp;&nbsp; 1.24% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.73%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $15595 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $66.54 | &nbsp;&nbsp;&nbsp;&nbsp; 26.80% | &nbsp;&nbsp;&nbsp;&nbsp; 1.27% | &nbsp;&nbsp;&nbsp;&nbsp; 1.27% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.59%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 39% | &nbsp;&nbsp;&nbsp;&nbsp; $16701 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $54.85 | &nbsp;&nbsp;&nbsp;&nbsp; 16.68% | &nbsp;&nbsp;&nbsp;&nbsp; 1.37% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.36% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.45%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 45% | &nbsp;&nbsp;&nbsp;&nbsp; $15437 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $47.01 | &nbsp;&nbsp;&nbsp;&nbsp; (17.61%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.53%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 46% | &nbsp;&nbsp;&nbsp;&nbsp; $15022 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $61.99 | &nbsp;&nbsp;&nbsp;&nbsp; 38.87% | &nbsp;&nbsp;&nbsp;&nbsp; 1.27% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.26% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.48%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 52% | &nbsp;&nbsp;&nbsp;&nbsp; $20376 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $80.99 | &nbsp;&nbsp;&nbsp;&nbsp; 5.79% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.21%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $1637675 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $83.20 | &nbsp;&nbsp;&nbsp;&nbsp; 20.18% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.22%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $1539893 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $72.77 | &nbsp;&nbsp;&nbsp;&nbsp; 27.48% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.06%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 39% | &nbsp;&nbsp;&nbsp;&nbsp; $1506699 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $59.45 | &nbsp;&nbsp;&nbsp;&nbsp; 17.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15% | &nbsp;&nbsp;&nbsp;&nbsp; 45% | &nbsp;&nbsp;&nbsp;&nbsp; $1184525 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $50.64 | &nbsp;&nbsp;&nbsp;&nbsp; (17.15%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.02% | &nbsp;&nbsp;&nbsp;&nbsp; 46% | &nbsp;&nbsp;&nbsp;&nbsp; $1066894 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $66.34 | &nbsp;&nbsp;&nbsp;&nbsp; 39.61% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04% | &nbsp;&nbsp;&nbsp;&nbsp; 52% | &nbsp;&nbsp;&nbsp;&nbsp; $1360640 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $81.27 | &nbsp;&nbsp;&nbsp;&nbsp; 5.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; (0.20%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $105190 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $83.46 | &nbsp;&nbsp;&nbsp;&nbsp; 20.21% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; (0.20%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $96187 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $72.97 | &nbsp;&nbsp;&nbsp;&nbsp; 27.50% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; (0.07%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 39% | &nbsp;&nbsp;&nbsp;&nbsp; $65121 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $59.60 | &nbsp;&nbsp;&nbsp;&nbsp; 17.44% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35% | &nbsp;&nbsp;&nbsp;&nbsp; 45% | &nbsp;&nbsp;&nbsp;&nbsp; $24642 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $50.75 | &nbsp;&nbsp;&nbsp;&nbsp; (17.13%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04% | &nbsp;&nbsp;&nbsp;&nbsp; 46% | &nbsp;&nbsp;&nbsp;&nbsp; $83838 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $66.47 | &nbsp;&nbsp;&nbsp;&nbsp; 39.63% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.00%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 52% | &nbsp;&nbsp;&nbsp;&nbsp; $108093 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $84.06 | &nbsp;&nbsp; (0.06)<br>| 5.16 | 5.10 | &nbsp;&nbsp; — | &nbsp;&nbsp; (7.27)<br>| &nbsp;&nbsp; (7.27)<br>|
| Year Ended 7/31/2025 | $73.44 | &nbsp;&nbsp; (0.11)<br>| 14.78 | 14.67 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|
| Year Ended 7/31/2024 | $59.93 | 0.01 | 16.01 | 16.02 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.51)<br>|
| Year Ended 7/31/2023 | $51.01 | 0.12 | 8.80 | 8.92 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2022 | $66.78 | 0.05 | &nbsp;&nbsp; (10.23)<br>| &nbsp;&nbsp; (10.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5.59)<br>| &nbsp;&nbsp; (5.59)<br>|
| Year Ended 7/31/2021 | $53.84 | 0.05 | 19.70 | 19.75 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (6.58)<br>| &nbsp;&nbsp; (6.81)<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Six Months Ended 1/31/2026 (Unaudited) | $74.76 | &nbsp;&nbsp; (0.27)<br>| 4.60 | 4.33 | &nbsp;&nbsp; — | &nbsp;&nbsp; (6.85)<br>| &nbsp;&nbsp; (6.85)<br>|
| Year Ended 7/31/2025 | $66.06 | &nbsp;&nbsp; (0.49)<br>| 13.24 | 12.75 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|
| Year Ended 7/31/2024 | $54.45 | &nbsp;&nbsp; (0.34)<br>| 14.46 | 14.12 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.51)<br>|
| Year Ended 7/31/2023 | $46.62 | &nbsp;&nbsp; (0.16)<br>| 7.99 | 7.83 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2022 | $61.49 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (9.36)<br>| &nbsp;&nbsp; (9.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5.25)<br>| &nbsp;&nbsp; (5.25)<br>|
| Year Ended 7/31/2021 | $50.11 | &nbsp;&nbsp; (0.23)<br>| 18.19 | 17.96 | &nbsp;&nbsp; — | &nbsp;&nbsp; (6.58)<br>| &nbsp;&nbsp; (6.58)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | $83.20 | &nbsp;&nbsp; (0.09)<br>| 5.10 | 5.01 | &nbsp;&nbsp; — | &nbsp;&nbsp; (7.22)<br>| &nbsp;&nbsp; (7.22)<br>|
| Year Ended 7/31/2025<sup>(e)</sup> <br>| $75.13 | &nbsp;&nbsp; (0.16)<br>| 12.28 | 12.12 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (4.05)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **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 interest on collateral expense which is less than 0.01%. |
| (e) | Class S shares commenced operations on October 2, 2024. Per share data and total return reflect activity from that date. |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $81.89 | &nbsp;&nbsp;&nbsp;&nbsp; 5.83% | &nbsp;&nbsp;&nbsp;&nbsp; 0.65% | &nbsp;&nbsp;&nbsp;&nbsp; 0.65% | &nbsp;&nbsp;&nbsp;&nbsp; (0.14%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $854003 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $84.06 | &nbsp;&nbsp;&nbsp;&nbsp; 20.26% | &nbsp;&nbsp;&nbsp;&nbsp; 0.65% | &nbsp;&nbsp;&nbsp;&nbsp; 0.65% | &nbsp;&nbsp;&nbsp;&nbsp; (0.15%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $880236 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $73.44 | &nbsp;&nbsp;&nbsp;&nbsp; 27.58% | &nbsp;&nbsp;&nbsp;&nbsp; 0.66% | &nbsp;&nbsp;&nbsp;&nbsp; 0.66% | &nbsp;&nbsp;&nbsp;&nbsp; 0.02% | &nbsp;&nbsp;&nbsp;&nbsp; 39% | &nbsp;&nbsp;&nbsp;&nbsp; $885574 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $59.93 | &nbsp;&nbsp;&nbsp;&nbsp; 17.49% | &nbsp;&nbsp;&nbsp;&nbsp; 0.67% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.67% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 45% | &nbsp;&nbsp;&nbsp;&nbsp; $732643 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $51.01 | &nbsp;&nbsp;&nbsp;&nbsp; (17.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.66% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.66% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09% | &nbsp;&nbsp;&nbsp;&nbsp; 46% | &nbsp;&nbsp;&nbsp;&nbsp; $704377 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $66.78 | &nbsp;&nbsp;&nbsp;&nbsp; 39.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.66% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.66% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09% | &nbsp;&nbsp;&nbsp;&nbsp; 52% | &nbsp;&nbsp;&nbsp;&nbsp; $877535 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $72.24 | &nbsp;&nbsp;&nbsp;&nbsp; 5.53% | &nbsp;&nbsp;&nbsp;&nbsp; 1.21% | &nbsp;&nbsp;&nbsp;&nbsp; 1.21% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.71%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $22759 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $74.76 | &nbsp;&nbsp;&nbsp;&nbsp; 19.59% | &nbsp;&nbsp;&nbsp;&nbsp; 1.22% | &nbsp;&nbsp;&nbsp;&nbsp; 1.22% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.72%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $22514 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $66.06 | &nbsp;&nbsp;&nbsp;&nbsp; 26.85% | &nbsp;&nbsp;&nbsp;&nbsp; 1.23% | &nbsp;&nbsp;&nbsp;&nbsp; 1.23% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.58%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 39% | &nbsp;&nbsp;&nbsp;&nbsp; $17397 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $54.45 | &nbsp;&nbsp;&nbsp;&nbsp; 16.80% | &nbsp;&nbsp;&nbsp;&nbsp; 1.25% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.25% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.34%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 45% | &nbsp;&nbsp;&nbsp;&nbsp; $9150 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $46.62 | &nbsp;&nbsp;&nbsp;&nbsp; (17.56%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.23% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.23% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.48%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 46% | &nbsp;&nbsp;&nbsp;&nbsp; $8043 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $61.49 | &nbsp;&nbsp;&nbsp;&nbsp; 38.92% | &nbsp;&nbsp;&nbsp;&nbsp; 1.24% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.24% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.44%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 52% | &nbsp;&nbsp;&nbsp;&nbsp; $10247 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $80.99 | &nbsp;&nbsp;&nbsp;&nbsp; 5.79% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.21%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $208847 |
|  Year Ended 7/31/2025 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $83.20 | &nbsp;&nbsp;&nbsp;&nbsp; 16.41% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; (0.25%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $210453 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Cornerstone Growth Fund (the Fund), a series of Columbia Funds Series Trust I (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**Fund shares**

The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust's organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.

As described in the Fund's prospectus, Class A and Class C shares are offered to the general public for investment. Class C shares automatically convert to Class A shares after 8 years. Institutional Class, Institutional 2 Class, Institutional 3 Class, Class R and Class S shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus. Class E shares are trust shares which are held in an irrevocable trust until the specified trust termination date and are closed to new investors and new accounts.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Equity securities listed on an exchange are valued at the closing price or last trade price on their primary exchange at the close of business of the New York Stock Exchange. Securities with a closing price not readily available or not listed on any exchange are valued at the mean between the closing bid and ask prices. Listed preferred stocks convertible into common stocks are valued using an evaluated price from a pricing service.

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Foreign equity securities are valued based on the closing price or last trade price on their primary exchange at the close of business of the New York Stock Exchange. If any foreign equity security closing prices are not readily available, the securities are valued at the mean of the latest quoted bid and ask prices on such exchanges or markets. Foreign currency exchange rates are determined at the scheduled closing time of the New York Stock Exchange. Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange; therefore, the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. In those situations, foreign securities will be fair valued pursuant to a policy approved by the Board of Trustees. Under the policy, the Fund may utilize a third-party pricing service to determine these fair values. The third-party pricing service takes into account multiple factors, including relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable, to determine a good faith estimate that reasonably reflects the current market conditions as of the close of the New York Stock Exchange. The fair value of a security is likely to be different from the quoted or published price, if available.

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Corporate actions and dividend income are generally recorded net of any non-reclaimable tax withholdings, on the ex-dividend date or upon receipt of an ex-dividend notification in the case of certain foreign securities.

The Fund may receive distributions from holdings in equity securities, business development companies (BDCs), exchange-traded funds (ETFs), limited partnerships (LPs), other regulated investment companies (RICs), and real estate investment trusts (REITs), which report information as to the tax character of their distributions annually. These distributions are allocated to dividend income, capital gain and return of capital based on actual information reported. Return of capital is recorded as a reduction of the cost basis of securities held. If the Fund no longer owns the applicable securities, return of capital is recorded as a realized gain. With respect to REITs, to the extent actual information has not yet been reported, estimates for return of capital are made by Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). The Investment Manager's estimates are subsequently adjusted when the actual character of the distributions is disclosed by the REITs, which could result in a proportionate change in return of capital to shareholders.

Awards from class action litigation are recorded as a reduction of cost basis if the Fund still owns the applicable securities on the payment date. If the Fund no longer owns the applicable securities on the payment date, the proceeds are recorded as realized gains.

Income and capital gain distributions from investments in underlying funds, if any, are recorded on the ex-dividend date.

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared and paid annually. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.77% to 0.57% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.63% of the Fund's average daily net assets.

The Investment Manager has contractually agreed to implement a waiver with respect to Fund assets invested in funds that pay a management or advisory fee to the Investment Manager or its affiliate (underlying affiliated funds). Under this arrangement, the Investment Manager waives its net management fee (management fee less reimbursements/waivers) with respect to the Fund in an amount equal to the net management or advisory fee (fee less reimbursement/waivers) payable by an underlying affiliated fund on the assets invested by the Fund in the underlying affiliated fund.

**Compensation of Board members**

Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund's liability for these amounts is adjusted for market value changes and

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees' fees deferred during the current period as well as any gains or losses on the Trustees' deferred compensation balances as a result of market fluctuations, is included in "Deferred compensation of board members" in the Statement of Operations.

**Compensation of Chief Compliance Officer**

The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer's total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.07 |
| Class C | 0.07 |
| Class E | 0.25 |
| Institutional Class | 0.07 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class R | 0.07 |
| Class S | 0.07 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $5,118.

**Distribution and service fees**

The Fund has entered into an agreement with Columbia Management Investment Distributors, Inc. (the Distributor), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, for distribution and shareholder services. The Board of Trustees has approved, and the Fund has adopted, distribution and shareholder service plans (the

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Plans) applicable to certain share classes, which set the distribution and service fees for the Fund. These fees are calculated daily and are intended to compensate the Distributor and/or eligible selling and/or servicing agents for selling shares of the Fund and providing services to investors.

Under the Plans, the Fund pays a monthly service fee to the Distributor at the maximum annual rate of 0.25% of the average daily net assets attributable to Class A, Class C and Class E shares of the Fund. Also under the Plans, the Fund pays a monthly distribution fee to the Distributor at the maximum annual rates of 0.10%, 0.75%, 0.10% and 0.50% of the average daily net assets attributable to Class A, Class C, Class E and Class R shares of the Fund, respectively.

Although the Fund may pay distribution and service fees up to a maximum annual rate of 0.35% of the Fund's average daily net assets attributable to Class A shares (comprised of up to 0.10% for distribution services and up to 0.25% for shareholder services), the Fund currently limits such fees to an aggregate fee of not more than 0.25% of the Fund's average daily net assets attributable to Class A shares.

**Sales charges** 

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the six months ended January 31, 2026, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 5.75<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 319838 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2214 |
| Class E | 4.50<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.

The Fund's other share classes are not subject to sales charges.

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.81 |
| Class E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 |
| Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 2284726000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4118045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81405000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4036640000 |

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

Under current tax rules, regulated investment companies can elect to treat certain late-year ordinary losses incurred and post-October capital losses (capital losses realized after October 31) as arising on the first day of the following taxable year. The Fund will elect to treat the following late-year ordinary losses and post-October capital losses at July 31, 2025 as arising on August 1, 2025.

---

| | |
|:---|:---|
| **Late year** <br>**ordinary losses ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Post-October** <br>**capital losses ($)**<br>|
| 13524029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $1,469,256,197 and $1,752,741,608, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Affiliated money market fund

The Fund invests in Columbia Short-Term Cash Fund, an affiliated money market fund established for the exclusive use by the Fund and other affiliated funds (the Affiliated MMF). The income earned by the Fund from such investments is included as Dividends - affiliated issuers in the Statement of Operations. As an investing fund, the Fund indirectly bears its proportionate share of the expenses of the Affiliated MMF. The Affiliated MMF prices its shares with a floating net asset value. The Securities and Exchange Commission has adopted amendments to money market fund rules requiring institutional prime money market funds like the Affiliated MMF to be subject to a discretionary liquidity fee of up to 2% if the imposition of such a fee is determined to be in the best interest of the Affiliated MMF and to a mandatory liquidity fee if daily net redemptions exceed 5% of net assets.

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 7. Interfund lending

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.

Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager's relationship with each Participating Fund.

The Fund did not borrow or lend money under the Interfund Program during the six months ended January 31, 2026.

Note 8. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 9. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

Columbia Cornerstone Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 43.7% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 10. Subsequent events

Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosure.

Note 11. Information regarding pending and settled legal proceedings

Ameriprise Financial and certain of its affiliates are involved, in the normal course of business, in legal proceedings that include regulatory inquiries, arbitration and litigation (including class actions) concerning matters arising in connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund. Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the Securities and Exchange Commission (SEC) on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss that may result from such matters. An adverse outcome in one or more of these proceedings could result in adverse judgments, settlements, fines, penalties or other relief, and may lead to further claims, examinations, adverse publicity or reputational damage, each of which could have a material adverse effect on the consolidated financial condition or results of operations or financial condition of Ameriprise Financial or one or more of its affiliates that provide services to the Fund.

Columbia Cornerstone Growth Fund \| 2026

------

**Columbia Cornerstone Growth Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g270970imgd86293ac2.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR174_07_T01_(03/26)

------

![](g270970img855b9eca1.jpg)

Columbia Oregon Intermediate Municipal Bond Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_b4c0716d-552a-44c4-8542-e7f64531f04a_POI-CommonContent-Date-35_1) | 3 |
| [Statement of Assets and Liabilities](#xx_b4c0716d-552a-44c4-8542-e7f64531f04a_FS-CommonContent-Date-35_1) | 11 |
| [Statement of Operations](#xx_b4c0716d-552a-44c4-8542-e7f64531f04a_FS-CommonContent-Date-35_2) | 12 |
| [Statement of Changes in Net Assets](#xx_b4c0716d-552a-44c4-8542-e7f64531f04a_FS-CommonContent-Date-35_3) | 13 |
| [Financial Highlights](#xx_b4c0716d-552a-44c4-8542-e7f64531f04a_FIHI-CommonContent-Date-35_2) | 16 |
| [Notes to Financial Statements](#xx_b4c0716d-552a-44c4-8542-e7f64531f04a_NTF-CommonContent-Date-35_1) | 18 |

---

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Floating Rate Notes 0.1%** | **Floating Rate Notes 0.1%** | **Floating Rate Notes 0.1%** | **Floating Rate Notes 0.1%** |
| **Issue Description** | **Yield** | **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Variable Rate Demand Notes 0.1%** | **Variable Rate Demand Notes 0.1%** | **Variable Rate Demand Notes 0.1%** | **Variable Rate Demand Notes 0.1%** |
| New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 2nd General Resolution | 2nd General Resolution | 2nd General Resolution | 2nd General Resolution |
| Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) |
| 06/15/2050 | &nbsp;&nbsp; 3.250% | 400000 | &nbsp;&nbsp; 400000 |
| Total Floating Rate Notes <br>(Cost $400,000) | Total Floating Rate Notes <br>(Cost $400,000) | Total Floating Rate Notes <br>(Cost $400,000) | &nbsp;&nbsp; **400000** |
| **Municipal Bonds 98.7%** | **Municipal Bonds 98.7%** | **Municipal Bonds 98.7%** | **Municipal Bonds 98.7%** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Airport 5.1%** | **Airport 5.1%** | **Airport 5.1%** | **Airport 5.1%** |
| Port of Portland<sup>(c)</sup>  | Port of Portland<sup>(c)</sup>  | Port of Portland<sup>(c)</sup>  | Port of Portland<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Portland International Airport | Portland International Airport | Portland International Airport | Portland International Airport |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 07/01/2039 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 5016131 |
| Port of Portland Airport<sup>(c)</sup>  | Port of Portland Airport<sup>(c)</sup>  | Port of Portland Airport<sup>(c)</sup>  | Port of Portland Airport<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Portland International Airport | Portland International Airport | Portland International Airport | Portland International Airport |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 07/01/2035 | &nbsp;&nbsp; 5.000% | 1680000 | &nbsp;&nbsp; 1774365 |
| 07/01/2036 | &nbsp;&nbsp; 5.000% | 650000 | &nbsp;&nbsp; 682838 |
| Series 2020A-27 | Series 2020A-27 | Series 2020A-27 | Series 2020A-27 |
| 07/01/2030 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3285411 |
| Series 2024-30 | Series 2024-30 | Series 2024-30 | Series 2024-30 |
| 07/01/2042 | &nbsp;&nbsp; 5.250% | 4000000 | &nbsp;&nbsp; 4380737 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15139482** |
| **Charter Schools 0.2%** | **Charter Schools 0.2%** | **Charter Schools 0.2%** | **Charter Schools 0.2%** |
| Oregon State Facilities Authority<sup>(d)</sup>  | Oregon State Facilities Authority<sup>(d)</sup>  | Oregon State Facilities Authority<sup>(d)</sup>  | Oregon State Facilities Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Redmond Proficiency Academy Project | Redmond Proficiency Academy Project | Redmond Proficiency Academy Project | Redmond Proficiency Academy Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/15/2035 | &nbsp;&nbsp; 4.625% | 270000 | &nbsp;&nbsp; 279215 |
| 06/15/2045 | &nbsp;&nbsp; 5.500% | 475000 | &nbsp;&nbsp; 478695 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **757910** |
| **Higher Education 1.1%** | **Higher Education 1.1%** | **Higher Education 1.1%** | **Higher Education 1.1%** |
| City of Forest Grove | City of Forest Grove | City of Forest Grove | City of Forest Grove |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Campus Improvement Pacific University Project | Campus Improvement Pacific University Project | Campus Improvement Pacific University Project | Campus Improvement Pacific University Project |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 05/01/2030 | &nbsp;&nbsp; 5.000% | 550000 | &nbsp;&nbsp; 550533 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Pacific University | Pacific University | Pacific University | Pacific University |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 05/01/2037 | &nbsp;&nbsp; 4.000% | 635000 | &nbsp;&nbsp; 608623 |
| County of Yamhill | County of Yamhill | County of Yamhill | County of Yamhill |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| George Fox University Project | George Fox University Project | George Fox University Project | George Fox University Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 12/01/2036 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 514390 |
| Oregon State University | Oregon State University | Oregon State University | Oregon State University |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2025C | Series 2025C | Series 2025C | Series 2025C |
| 04/01/2045 | &nbsp;&nbsp; 5.000% | 1620000 | &nbsp;&nbsp; 1748360 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3421906** |
| **Hospital 12.0%** | **Hospital 12.0%** | **Hospital 12.0%** | **Hospital 12.0%** |
| Klamath Falls Intercommunity Hospital Authority | Klamath Falls Intercommunity Hospital Authority | Klamath Falls Intercommunity Hospital Authority | Klamath Falls Intercommunity Hospital Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Sky Lakes Medical Center Project | Sky Lakes Medical Center Project | Sky Lakes Medical Center Project | Sky Lakes Medical Center Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 09/01/2028 | &nbsp;&nbsp; 5.000% | 265000 | &nbsp;&nbsp; 267778 |
| 09/01/2030 | &nbsp;&nbsp; 5.000% | 830000 | &nbsp;&nbsp; 838053 |
| 09/01/2031 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 504507 |
| 09/01/2032 | &nbsp;&nbsp; 5.000% | 270000 | &nbsp;&nbsp; 272317 |
| Medford Hospital Facilities Authority | Medford Hospital Facilities Authority | Medford Hospital Facilities Authority | Medford Hospital Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Asante Project | Asante Project | Asante Project | Asante Project |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 08/15/2033 | &nbsp;&nbsp; 5.000% | 1200000 | &nbsp;&nbsp; 1308365 |
| 08/15/2037 | &nbsp;&nbsp; 5.000% | 2900000 | &nbsp;&nbsp; 3092960 |
| 08/15/2039 | &nbsp;&nbsp; 4.000% | 1100000 | &nbsp;&nbsp; 1092843 |
| Oregon Health & Science University | Oregon Health & Science University | Oregon Health & Science University | Oregon Health & Science University |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2016B | Series 2016B | Series 2016B | Series 2016B |
| 07/01/2034 | &nbsp;&nbsp; 5.000% | 7500000 | &nbsp;&nbsp; 7566599 |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 07/01/2032 | &nbsp;&nbsp; 5.000% | 5175000 | &nbsp;&nbsp; 5611412 |
| Series 2021B-2 (Mandatory Put 02/01/32) | Series 2021B-2 (Mandatory Put 02/01/32) | Series 2021B-2 (Mandatory Put 02/01/32) | Series 2021B-2 (Mandatory Put 02/01/32) |
| 07/01/2046 | &nbsp;&nbsp; 5.000% | 1235000 | &nbsp;&nbsp; 1374422 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Green Bonds | Green Bonds | Green Bonds | Green Bonds |
| Series 2021A | Series 2021A | Series 2021A | Series 2021A |
| 07/01/2038 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1088620 |
| Oregon State Facilities Authority | Oregon State Facilities Authority | Oregon State Facilities Authority | Oregon State Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Legacy Health Project | Legacy Health Project | Legacy Health Project | Legacy Health Project |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 06/01/2033 | &nbsp;&nbsp; 5.000% | 1600000 | &nbsp;&nbsp; 1610002 |
| 06/01/2034 | &nbsp;&nbsp; 5.000% | 3185000 | &nbsp;&nbsp; 3203880 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Salem Hospital Facility Authority | Salem Hospital Facility Authority | Salem Hospital Facility Authority | Salem Hospital Facility Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Salem Health Projects | Salem Health Projects | Salem Health Projects | Salem Health Projects |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 05/15/2029 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1006879 |
| 05/15/2030 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1006636 |
| 05/15/2031 | &nbsp;&nbsp; 5.000% | 1025000 | &nbsp;&nbsp; 1031429 |
| 05/15/2041 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2486692 |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 05/15/2037 | &nbsp;&nbsp; 5.000% | 2305000 | &nbsp;&nbsp; 2425472 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **35788866** |
| **Local General Obligation 30.3%** | **Local General Obligation 30.3%** | **Local General Obligation 30.3%** | **Local General Obligation 30.3%** |
| Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis<sup>(e)</sup>  | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis<sup>(e)</sup>  | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis<sup>(e)</sup>  | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 06/15/2038 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 522670 |
| Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018B | Series 2018B | Series 2018B | Series 2018B |
| 06/15/2035 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2634061 |
| Blue Mountain Community College District | Blue Mountain Community College District | Blue Mountain Community College District | Blue Mountain Community College District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 06/15/2029 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 1000636 |
| Boardman Park & Recreation District | Boardman Park & Recreation District | Boardman Park & Recreation District | Boardman Park & Recreation District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 06/15/2035 | &nbsp;&nbsp; 5.250% | 1000000 | &nbsp;&nbsp; 1000071 |
| Central Oregon Community College | Central Oregon Community College | Central Oregon Community College | Central Oregon Community College |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 06/15/2028 | &nbsp;&nbsp; 4.000% | 525000 | &nbsp;&nbsp; 545033 |
| Chemeketa Community College District | Chemeketa Community College District | Chemeketa Community College District | Chemeketa Community College District |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 06/15/2026 | &nbsp;&nbsp; 4.000% | 1745000 | &nbsp;&nbsp; 1746450 |
| City of Bend | City of Bend | City of Bend | City of Bend |
| Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/01/2041 | &nbsp;&nbsp; 5.000% | 1765000 | &nbsp;&nbsp; 1979283 |
| 06/01/2043 | &nbsp;&nbsp; 5.000% | 1580000 | &nbsp;&nbsp; 1733530 |
| City of Lebanon | City of Lebanon | City of Lebanon | City of Lebanon |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 06/01/2027 | &nbsp;&nbsp; 5.000% | 1715000 | &nbsp;&nbsp; 1717016 |
| City of Redmond<sup>(c)</sup>  | City of Redmond<sup>(c)</sup>  | City of Redmond<sup>(c)</sup>  | City of Redmond<sup>(c)</sup>  |
| Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds |
| Airport Expansion Projects | Airport Expansion Projects | Airport Expansion Projects | Airport Expansion Projects |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/01/2043 | &nbsp;&nbsp; 5.250% | 1000000 | &nbsp;&nbsp; 1081313 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| City of Salem | City of Salem | City of Salem | City of Salem |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023B | Series 2023B | Series 2023B | Series 2023B |
| 06/01/2039 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2791836 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 06/01/2030 | &nbsp;&nbsp; 4.000% | 2000000 | &nbsp;&nbsp; 2036903 |
| City of Sisters | City of Sisters | City of Sisters | City of Sisters |
| Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 12/01/2035 | &nbsp;&nbsp; 4.000% | 620000 | &nbsp;&nbsp; 620141 |
| Clackamas & Washington Counties School District No. 3 | Clackamas & Washington Counties School District No. 3 | Clackamas & Washington Counties School District No. 3 | Clackamas & Washington Counties School District No. 3 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020B | Series 2020B | Series 2020B | Series 2020B |
| 06/15/2028 | &nbsp;&nbsp; 5.000% | 275000 | &nbsp;&nbsp; 292123 |
| 06/15/2029 | &nbsp;&nbsp; 5.000% | 435000 | &nbsp;&nbsp; 473159 |
| Clackamas Community College District<sup>(e)</sup>  | Clackamas Community College District<sup>(e)</sup>  | Clackamas Community College District<sup>(e)</sup>  | Clackamas Community College District<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Convertible Deferred Interest | Convertible Deferred Interest | Convertible Deferred Interest | Convertible Deferred Interest |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 06/15/2038 | &nbsp;&nbsp; 5.000% | 760000 | &nbsp;&nbsp; 779679 |
| Clackamas County School District No. 12 North Clackamas | Clackamas County School District No. 12 North Clackamas | Clackamas County School District No. 12 North Clackamas | Clackamas County School District No. 12 North Clackamas |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2017B | Series 2017B | Series 2017B | Series 2017B |
| 06/15/2033 | &nbsp;&nbsp; 5.000% | 3500000 | &nbsp;&nbsp; 3619267 |
| Clackamas County School District No. 35 Molalla River | Clackamas County School District No. 35 Molalla River | Clackamas County School District No. 35 Molalla River | Clackamas County School District No. 35 Molalla River |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024B | Series 2024B | Series 2024B | Series 2024B |
| 06/15/2041 | &nbsp;&nbsp; 5.000% | 800000 | &nbsp;&nbsp; 892316 |
| Clatsop County School District No. 1-C | Clatsop County School District No. 1-C | Clatsop County School District No. 1-C | Clatsop County School District No. 1-C |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Astoria | Astoria | Astoria | Astoria |
| 06/15/2035 | &nbsp;&nbsp; 5.000% | 1650000 | &nbsp;&nbsp; 1767817 |
| Clatsop County School District No. 30 Warrenton-Hammond<sup>(f)</sup>  | Clatsop County School District No. 30 Warrenton-Hammond<sup>(f)</sup>  | Clatsop County School District No. 30 Warrenton-Hammond<sup>(f)</sup>  | Clatsop County School District No. 30 Warrenton-Hammond<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Deferred Interest | Deferred Interest | Deferred Interest | Deferred Interest |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/15/2035 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 698560 |
| Columbia County School District No. 502<sup>(f)</sup>  | Columbia County School District No. 502<sup>(f)</sup>  | Columbia County School District No. 502<sup>(f)</sup>  | Columbia County School District No. 502<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Deferred Interest | Deferred Interest | Deferred Interest | Deferred Interest |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 06/15/2033 | &nbsp;&nbsp; 0.000% | 300000 | &nbsp;&nbsp; 228558 |
| Coos County School District No. 9 Coos Bay | Coos County School District No. 9 Coos Bay | Coos County School District No. 9 Coos Bay | Coos County School District No. 9 Coos Bay |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 06/15/2034 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 528309 |
| 06/15/2035 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1053625 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Deschutes & Jefferson Counties School District No. 2J Redmond | Deschutes & Jefferson Counties School District No. 2J Redmond | Deschutes & Jefferson Counties School District No. 2J Redmond | Deschutes & Jefferson Counties School District No. 2J Redmond |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 06/15/2038 | &nbsp;&nbsp; 4.000% | 650000 | &nbsp;&nbsp; 670730 |
| Hillsboro School District No. 1J | Hillsboro School District No. 1J | Hillsboro School District No. 1J | Hillsboro School District No. 1J |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Washington, Yamhill and Multnomah Counties | Washington, Yamhill and Multnomah Counties | Washington, Yamhill and Multnomah Counties | Washington, Yamhill and Multnomah Counties |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 06/15/2035 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2577323 |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 06/15/2029 | &nbsp;&nbsp; 5.000% | 550000 | &nbsp;&nbsp; 598247 |
| 06/15/2038 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2536423 |
| Jackson County School District No. 4<sup>(f)</sup>  | Jackson County School District No. 4<sup>(f)</sup>  | Jackson County School District No. 4<sup>(f)</sup>  | Jackson County School District No. 4<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 06/15/2033 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 748424 |
| Jackson County School District No. 5 Ashland | Jackson County School District No. 5 Ashland | Jackson County School District No. 5 Ashland | Jackson County School District No. 5 Ashland |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/15/2036 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3211697 |
| Jackson County School District No. 6 Central Point | Jackson County School District No. 6 Central Point | Jackson County School District No. 6 Central Point | Jackson County School District No. 6 Central Point |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 06/15/2036 | &nbsp;&nbsp; 4.000% | 1145000 | &nbsp;&nbsp; 1184373 |
| Lane Community College | Lane Community College | Lane Community College | Lane Community College |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 06/15/2037 | &nbsp;&nbsp; 4.000% | 2000000 | &nbsp;&nbsp; 2054531 |
| Lane County School District No. 1 Pleasant Hill<sup>(f)</sup>  | Lane County School District No. 1 Pleasant Hill<sup>(f)</sup>  | Lane County School District No. 1 Pleasant Hill<sup>(f)</sup>  | Lane County School District No. 1 Pleasant Hill<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2014B | Series 2014B | Series 2014B | Series 2014B |
| 06/15/2029 | &nbsp;&nbsp; 0.000% | 1775000 | &nbsp;&nbsp; 1609575 |
| Lane County School District No. 19 Springfield<sup>(f)</sup>  | Lane County School District No. 19 Springfield<sup>(f)</sup>  | Lane County School District No. 19 Springfield<sup>(f)</sup>  | Lane County School District No. 19 Springfield<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2015B | Series 2015B | Series 2015B | Series 2015B |
| 06/15/2033 | &nbsp;&nbsp; 0.000% | 3770000 | &nbsp;&nbsp; 3017301 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2015D | Series 2015D | Series 2015D | Series 2015D |
| 06/15/2028 | &nbsp;&nbsp; 0.000% | 1480000 | &nbsp;&nbsp; 1391176 |
| Lane County School District No. 52 Bethel | Lane County School District No. 52 Bethel | Lane County School District No. 52 Bethel | Lane County School District No. 52 Bethel |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2021B | Series 2021B | Series 2021B | Series 2021B |
| 06/15/2035 | &nbsp;&nbsp; 4.000% | 1590000 | &nbsp;&nbsp; 1678572 |
| Lincoln County School District<sup>(f)</sup>  | Lincoln County School District<sup>(f)</sup>  | Lincoln County School District<sup>(f)</sup>  | Lincoln County School District<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/15/2036 | &nbsp;&nbsp; 0.000% | 800000 | &nbsp;&nbsp; 904928 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Linn & Benton Counties School District No. 8J Greater Albany | Linn & Benton Counties School District No. 8J Greater Albany | Linn & Benton Counties School District No. 8J Greater Albany | Linn & Benton Counties School District No. 8J Greater Albany |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 06/15/2030 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1037099 |
| 06/15/2035 | &nbsp;&nbsp; 5.000% | 2480000 | &nbsp;&nbsp; 2559076 |
| Marion County School District No. 15 North Marion | Marion County School District No. 15 North Marion | Marion County School District No. 15 North Marion | Marion County School District No. 15 North Marion |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018B | Series 2018B | Series 2018B | Series 2018B |
| 06/15/2032 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1060476 |
| 06/15/2033 | &nbsp;&nbsp; 5.000% | 240000 | &nbsp;&nbsp; 254055 |
| Metro | Metro | Metro | Metro |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/01/2038 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3499857 |
| Mount Hood Community College District | Mount Hood Community College District | Mount Hood Community College District | Mount Hood Community College District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/15/2034 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3533818 |
| Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow<sup>(f)</sup>  | Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow<sup>(f)</sup>  | Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow<sup>(f)</sup>  | Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 06/15/2033 | &nbsp;&nbsp; 0.000% | 4000000 | &nbsp;&nbsp; 2976843 |
| Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow | Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow | Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow | Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2017B | Series 2017B | Series 2017B | Series 2017B |
| 06/15/2031 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3110059 |
| Oregon City School District No. 62 | Oregon City School District No. 62 | Oregon City School District No. 62 | Oregon City School District No. 62 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025B | Series 2025B | Series 2025B | Series 2025B |
| 06/15/2043 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1104814 |
| Oregon Coast Community College District | Oregon Coast Community College District | Oregon Coast Community College District | Oregon Coast Community College District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/15/2041 | &nbsp;&nbsp; 5.000% | 400000 | &nbsp;&nbsp; 446467 |
| Polk Marion & Benton Counties School District No. 13J Central | Polk Marion & Benton Counties School District No. 13J Central | Polk Marion & Benton Counties School District No. 13J Central | Polk Marion & Benton Counties School District No. 13J Central |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 02/01/2028 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 1000593 |
| Portland Community College District | Portland Community College District | Portland Community College District | Portland Community College District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 06/15/2029 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1010229 |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 06/15/2038 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1131904 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 06/15/2027 | &nbsp;&nbsp; 5.000% | 2100000 | &nbsp;&nbsp; 2117009 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Salem-Keizer School District No. 24J | Salem-Keizer School District No. 24J | Salem-Keizer School District No. 24J | Salem-Keizer School District No. 24J |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 06/15/2035 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 1023052 |
| Series 2020B | Series 2020B | Series 2020B | Series 2020B |
| 06/15/2033 | &nbsp;&nbsp; 5.000% | 1450000 | &nbsp;&nbsp; 1602285 |
| Washington & Clackamas Counties School District No. 23J Tigard-Tualatin | Washington & Clackamas Counties School District No. 23J Tigard-Tualatin | Washington & Clackamas Counties School District No. 23J Tigard-Tualatin | Washington & Clackamas Counties School District No. 23J Tigard-Tualatin |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/15/2040 | &nbsp;&nbsp; 5.000% | 2210000 | &nbsp;&nbsp; 2516422 |
| Washington & Multnomah Counties School District No. 48J Beaverton<sup>(f)</sup>  | Washington & Multnomah Counties School District No. 48J Beaverton<sup>(f)</sup>  | Washington & Multnomah Counties School District No. 48J Beaverton<sup>(f)</sup>  | Washington & Multnomah Counties School District No. 48J Beaverton<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 06/15/2038 | &nbsp;&nbsp; 0.000% | 2435000 | &nbsp;&nbsp; 1497253 |
| Washington Clackamas & Yamhill Counties School District No. 88J<sup>(f)</sup>  | Washington Clackamas & Yamhill Counties School District No. 88J<sup>(f)</sup>  | Washington Clackamas & Yamhill Counties School District No. 88J<sup>(f)</sup>  | Washington Clackamas & Yamhill Counties School District No. 88J<sup>(f)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Deferred Interest | Deferred Interest | Deferred Interest | Deferred Interest |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 06/15/2037 | &nbsp;&nbsp; 0.000% | 3500000 | &nbsp;&nbsp; 2224064 |
| Washington Clackamas & Yamhill Counties School District No. 88J | Washington Clackamas & Yamhill Counties School District No. 88J | Washington Clackamas & Yamhill Counties School District No. 88J | Washington Clackamas & Yamhill Counties School District No. 88J |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Sherwood College | Sherwood College | Sherwood College | Sherwood College |
| Series 2017B | Series 2017B | Series 2017B | Series 2017B |
| 06/15/2031 | &nbsp;&nbsp; 5.000% | 4500000 | &nbsp;&nbsp; 4663849 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **90294880** |
| **Multi-Family 3.0%** | **Multi-Family 3.0%** | **Multi-Family 3.0%** | **Multi-Family 3.0%** |
| Oregon State Facilities Authority<sup>(d)</sup>  | Oregon State Facilities Authority<sup>(d)</sup>  | Oregon State Facilities Authority<sup>(d)</sup>  | Oregon State Facilities Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| College Housing Northwest Project | College Housing Northwest Project | College Housing Northwest Project | College Housing Northwest Project |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 10/01/2036 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 979012 |
| State of Oregon Housing & Community Services Department<sup>(b)</sup>  | State of Oregon Housing & Community Services Department<sup>(b)</sup>  | State of Oregon Housing & Community Services Department<sup>(b)</sup>  | State of Oregon Housing & Community Services Department<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Gresham Civic Station Apartments Project | Gresham Civic Station Apartments Project | Gresham Civic Station Apartments Project | Gresham Civic Station Apartments Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2044 | &nbsp;&nbsp; 3.125% | 1000000 | &nbsp;&nbsp; 1006176 |
| Verde Pines Project | Verde Pines Project | Verde Pines Project | Verde Pines Project |
| Series 2025O | Series 2025O | Series 2025O | Series 2025O |
| 12/01/2059 | &nbsp;&nbsp; 3.100% | 1875000 | &nbsp;&nbsp; 1880785 |
| State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Hollywood HUB Apartments Project | Hollywood HUB Apartments Project | Hollywood HUB Apartments Project | Hollywood HUB Apartments Project |
| Series 2024 (Mandatory Put 01/01/29) | Series 2024 (Mandatory Put 01/01/29) | Series 2024 (Mandatory Put 01/01/29) | Series 2024 (Mandatory Put 01/01/29) |
| 01/10/2048 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 5114007 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8979980** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Municipal Power 3.7%** | **Municipal Power 3.7%** | **Municipal Power 3.7%** | **Municipal Power 3.7%** |
| Central Lincoln People's Utility District | Central Lincoln People's Utility District | Central Lincoln People's Utility District | Central Lincoln People's Utility District |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/01/2043 | &nbsp;&nbsp; 5.000% | 700000 | &nbsp;&nbsp; 769092 |
| City of Eugene Electric Utility System | City of Eugene Electric Utility System | City of Eugene Electric Utility System | City of Eugene Electric Utility System |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 08/01/2040 | &nbsp;&nbsp; 5.000% | 525000 | &nbsp;&nbsp; 592741 |
| 08/01/2041 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 558392 |
| 08/01/2042 | &nbsp;&nbsp; 5.000% | 650000 | &nbsp;&nbsp; 719057 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 08/01/2029 | &nbsp;&nbsp; 5.000% | 530000 | &nbsp;&nbsp; 551647 |
| 08/01/2030 | &nbsp;&nbsp; 5.000% | 420000 | &nbsp;&nbsp; 436334 |
| 08/01/2031 | &nbsp;&nbsp; 5.000% | 450000 | &nbsp;&nbsp; 466960 |
| 08/01/2032 | &nbsp;&nbsp; 5.000% | 250000 | &nbsp;&nbsp; 259048 |
| Emerald Peoples Utility District | Emerald Peoples Utility District | Emerald Peoples Utility District | Emerald Peoples Utility District |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/01/2042 | &nbsp;&nbsp; 5.000% | 3245000 | &nbsp;&nbsp; 3586833 |
| Northern Wasco County Peoples Utility District | Northern Wasco County Peoples Utility District | Northern Wasco County Peoples Utility District | Northern Wasco County Peoples Utility District |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 12/01/2031 | &nbsp;&nbsp; 5.000% | 1455000 | &nbsp;&nbsp; 1483525 |
| 12/01/2036 | &nbsp;&nbsp; 5.000% | 1545000 | &nbsp;&nbsp; 1567746 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10991375** |
| **Other Bond Issue 0.4%** | **Other Bond Issue 0.4%** | **Other Bond Issue 0.4%** | **Other Bond Issue 0.4%** |
| Oregon State Facilities Authority | Oregon State Facilities Authority | Oregon State Facilities Authority | Oregon State Facilities Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Southern Oregon Goodwill Project | Southern Oregon Goodwill Project | Southern Oregon Goodwill Project | Southern Oregon Goodwill Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/01/2040 | &nbsp;&nbsp; 5.000% | 420000 | &nbsp;&nbsp; 437901 |
| Warm Springs Reservation Confederated Tribe<sup>(d),(g)</sup>  | Warm Springs Reservation Confederated Tribe<sup>(d),(g)</sup>  | Warm Springs Reservation Confederated Tribe<sup>(d),(g)</sup>  | Warm Springs Reservation Confederated Tribe<sup>(d),(g)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Green Bonds - Pelton-Round Butte Project | Green Bonds - Pelton-Round Butte Project | Green Bonds - Pelton-Round Butte Project | Green Bonds - Pelton-Round Butte Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 11/01/2036 | &nbsp;&nbsp; 5.000% | 590000 | &nbsp;&nbsp; 623720 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1061621** |
| **Pool / Bond Bank 0.6%** | **Pool / Bond Bank 0.6%** | **Pool / Bond Bank 0.6%** | **Pool / Bond Bank 0.6%** |
| Oregon State Bond Bank | Oregon State Bond Bank | Oregon State Bond Bank | Oregon State Bond Bank |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 01/01/2028 | &nbsp;&nbsp; 5.000% | 810000 | &nbsp;&nbsp; 810973 |
| 01/01/2029 | &nbsp;&nbsp; 5.000% | 1070000 | &nbsp;&nbsp; 1071342 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1882315** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Ports 0.9%** | **Ports 0.9%** | **Ports 0.9%** | **Ports 0.9%** |
| Port of Morrow | Port of Morrow | Port of Morrow | Port of Morrow |
| Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds |
| Subordinated Series 2021D | Subordinated Series 2021D | Subordinated Series 2021D | Subordinated Series 2021D |
| 12/01/2034 | &nbsp;&nbsp; 4.000% | 1250000 | &nbsp;&nbsp; 1258170 |
| 12/01/2035 | &nbsp;&nbsp; 4.000% | 1290000 | &nbsp;&nbsp; 1292088 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2550258** |
| **Refunded / Escrowed 3.6%** | **Refunded / Escrowed 3.6%** | **Refunded / Escrowed 3.6%** | **Refunded / Escrowed 3.6%** |
| Oregon State Facilities Authority | Oregon State Facilities Authority | Oregon State Facilities Authority | Oregon State Facilities Authority |
| Prerefunded 07/01/27 Revenue Bonds | Prerefunded 07/01/27 Revenue Bonds | Prerefunded 07/01/27 Revenue Bonds | Prerefunded 07/01/27 Revenue Bonds |
| Reed College Project | Reed College Project | Reed College Project | Reed College Project |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 07/01/2032 | &nbsp;&nbsp; 4.000% | 250000 | &nbsp;&nbsp; 255710 |
| Puerto Rico Public Finance Corp.<sup>(g)</sup>  | Puerto Rico Public Finance Corp.<sup>(g)</sup>  | Puerto Rico Public Finance Corp.<sup>(g)</sup>  | Puerto Rico Public Finance Corp.<sup>(g)</sup>  |
| Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds |
| Commonwealth Appropriation | Commonwealth Appropriation | Commonwealth Appropriation | Commonwealth Appropriation |
| Series 2002E Escrowed to Maturity | Series 2002E Escrowed to Maturity | Series 2002E Escrowed to Maturity | Series 2002E Escrowed to Maturity |
| 08/01/2026 | &nbsp;&nbsp; 6.000% | 5000000 | &nbsp;&nbsp; 5084641 |
| Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon |
| Prerefunded 09/01/26 Revenue Bonds | Prerefunded 09/01/26 Revenue Bonds | Prerefunded 09/01/26 Revenue Bonds | Prerefunded 09/01/26 Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 09/01/2031 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 1009962 |
| 09/01/2032 | &nbsp;&nbsp; 4.000% | 1250000 | &nbsp;&nbsp; 1262453 |
| Senior Lien Payroll Tax | Senior Lien Payroll Tax | Senior Lien Payroll Tax | Senior Lien Payroll Tax |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 09/01/2032 | &nbsp;&nbsp; 5.000% | 1595000 | &nbsp;&nbsp; 1620032 |
| Prerefunded 09/01/27 Revenue Bonds | Prerefunded 09/01/27 Revenue Bonds | Prerefunded 09/01/27 Revenue Bonds | Prerefunded 09/01/27 Revenue Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 09/01/2034 | &nbsp;&nbsp; 5.000% | 550000 | &nbsp;&nbsp; 573381 |
| 09/01/2035 | &nbsp;&nbsp; 5.000% | 800000 | &nbsp;&nbsp; 834009 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10640188** |
| **Retirement Communities 1.1%** | **Retirement Communities 1.1%** | **Retirement Communities 1.1%** | **Retirement Communities 1.1%** |
| Clackamas County Hospital Facility Authority | Clackamas County Hospital Facility Authority | Clackamas County Hospital Facility Authority | Clackamas County Hospital Facility Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Mary's Woods at Marylhurst, Inc. | Mary's Woods at Marylhurst, Inc. | Mary's Woods at Marylhurst, Inc. | Mary's Woods at Marylhurst, Inc. |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 05/15/2038 | &nbsp;&nbsp; 5.000% | 220000 | &nbsp;&nbsp; 222054 |
| Hospital Facilities Authority of Multnomah County | Hospital Facilities Authority of Multnomah County | Hospital Facilities Authority of Multnomah County | Hospital Facilities Authority of Multnomah County |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Terwilliger Plaza, Inc. | Terwilliger Plaza, Inc. | Terwilliger Plaza, Inc. | Terwilliger Plaza, Inc. |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 12/01/2030 | &nbsp;&nbsp; 5.000% | 325000 | &nbsp;&nbsp; 328269 |
| 12/01/2036 | &nbsp;&nbsp; 5.000% | 900000 | &nbsp;&nbsp; 905396 |
| Salem Hospital Facility Authority | Salem Hospital Facility Authority | Salem Hospital Facility Authority | Salem Hospital Facility Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Capital Manor Project | Capital Manor Project | Capital Manor Project | Capital Manor Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 05/15/2040 | &nbsp;&nbsp; 4.000% | 800000 | &nbsp;&nbsp; 774540 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Capital Manor Project | Capital Manor Project | Capital Manor Project | Capital Manor Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 05/15/2033 | &nbsp;&nbsp; 5.000% | 550000 | &nbsp;&nbsp; 563049 |
| 05/15/2038 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 509570 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3302878** |
| **Single Family 3.0%** | **Single Family 3.0%** | **Single Family 3.0%** | **Single Family 3.0%** |
| State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Single-Family Mortgage Program | Single-Family Mortgage Program | Single-Family Mortgage Program | Single-Family Mortgage Program |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 01/01/2036 | &nbsp;&nbsp; 4.050% | 995000 | &nbsp;&nbsp; 1029566 |
| 07/01/2036 | &nbsp;&nbsp; 4.050% | 1240000 | &nbsp;&nbsp; 1279510 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017D | Series 2017D | Series 2017D | Series 2017D |
| 07/01/2032 | &nbsp;&nbsp; 3.150% | 1485000 | &nbsp;&nbsp; 1484507 |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2028 | &nbsp;&nbsp; 1.700% | 1040000 | &nbsp;&nbsp; 999723 |
| 01/01/2029 | &nbsp;&nbsp; 1.750% | 1010000 | &nbsp;&nbsp; 962129 |
| Series 2020C | Series 2020C | Series 2020C | Series 2020C |
| 07/01/2035 | &nbsp;&nbsp; 2.000% | 2000000 | &nbsp;&nbsp; 1710461 |
| Single-Family Mortgage Program | Single-Family Mortgage Program | Single-Family Mortgage Program | Single-Family Mortgage Program |
| Series 2021A | Series 2021A | Series 2021A | Series 2021A |
| 07/01/2027 | &nbsp;&nbsp; 0.950% | 1015000 | &nbsp;&nbsp; 979489 |
| 01/01/2029 | &nbsp;&nbsp; 1.200% | 250000 | &nbsp;&nbsp; 234385 |
| 01/01/2030 | &nbsp;&nbsp; 1.450% | 375000 | &nbsp;&nbsp; 352168 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9031938** |
| **Special Non Property Tax 11.6%** | **Special Non Property Tax 11.6%** | **Special Non Property Tax 11.6%** | **Special Non Property Tax 11.6%** |
| Metro | Metro | Metro | Metro |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Convention Center Hotel | Convention Center Hotel | Convention Center Hotel | Convention Center Hotel |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 06/15/2030 | &nbsp;&nbsp; 5.000% | 435000 | &nbsp;&nbsp; 450002 |
| 06/15/2031 | &nbsp;&nbsp; 5.000% | 725000 | &nbsp;&nbsp; 750103 |
| 06/15/2032 | &nbsp;&nbsp; 5.000% | 780000 | &nbsp;&nbsp; 807222 |
| Oregon State Lottery | Oregon State Lottery | Oregon State Lottery | Oregon State Lottery |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 04/01/2034 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1181966 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 04/01/2035 | &nbsp;&nbsp; 5.000% | 1785000 | &nbsp;&nbsp; 1834048 |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 04/01/2036 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1069467 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 04/01/2035 | &nbsp;&nbsp; 5.000% | 2250000 | &nbsp;&nbsp; 2547617 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 04/01/2039 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2234163 |
| 04/01/2040 | &nbsp;&nbsp; 5.000% | 1145000 | &nbsp;&nbsp; 1271029 |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 04/01/2041 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2239534 |
| State of Oregon Department of Transportation | State of Oregon Department of Transportation | State of Oregon Department of Transportation | State of Oregon Department of Transportation |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2017B | Series 2017B | Series 2017B | Series 2017B |
| 11/15/2026 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2043406 |
| Subordinated Series 2019A | Subordinated Series 2019A | Subordinated Series 2019A | Subordinated Series 2019A |
| 11/15/2036 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2151961 |
| 11/15/2038 | &nbsp;&nbsp; 5.000% | 1020000 | &nbsp;&nbsp; 1088871 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Highway User Tax | Highway User Tax | Highway User Tax | Highway User Tax |
| Subordinated Series 2026A | Subordinated Series 2026A | Subordinated Series 2026A | Subordinated Series 2026A |
| 11/15/2043 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1106087 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 11/15/2040 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2207558 |
| Subordinated Series 2020A | Subordinated Series 2020A | Subordinated Series 2020A | Subordinated Series 2020A |
| 11/15/2037 | &nbsp;&nbsp; 5.000% | 4850000 | &nbsp;&nbsp; 5272085 |
| Subordinated Series 2023A | Subordinated Series 2023A | Subordinated Series 2023A | Subordinated Series 2023A |
| 11/15/2039 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2222559 |
| Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 09/01/2037 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1602946 |
| 09/01/2038 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1065563 |
| 09/01/2039 | &nbsp;&nbsp; 4.000% | 1460000 | &nbsp;&nbsp; 1491450 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **34637637** |
| **State General Obligation 6.2%** | **State General Obligation 6.2%** | **State General Obligation 6.2%** | **State General Obligation 6.2%** |
| State of Oregon | State of Oregon | State of Oregon | State of Oregon |
| Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds |
| Article XI-Q State Projects | Article XI-Q State Projects | Article XI-Q State Projects | Article XI-Q State Projects |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 11/01/2040 | &nbsp;&nbsp; 5.000% | 2060000 | &nbsp;&nbsp; 2309056 |
| Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds |
| Veterans Welfare Bonds | Veterans Welfare Bonds | Veterans Welfare Bonds | Veterans Welfare Bonds |
| Series 2020I | Series 2020I | Series 2020I | Series 2020I |
| 12/01/2030 | &nbsp;&nbsp; 1.950% | 555000 | &nbsp;&nbsp; 518991 |
| 12/01/2031 | &nbsp;&nbsp; 2.000% | 450000 | &nbsp;&nbsp; 415427 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Article XI - Q State Projects | Article XI - Q State Projects | Article XI - Q State Projects | Article XI - Q State Projects |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 05/01/2026 | &nbsp;&nbsp; 5.000% | 1250000 | &nbsp;&nbsp; 1258511 |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 05/01/2040 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2235699 |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/01/2038 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3188291 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Series 2019G | Series 2019G | Series 2019G | Series 2019G |
| 08/01/2033 | &nbsp;&nbsp; 5.000% | 1320000 | &nbsp;&nbsp; 1431282 |
| Series 2023G | Series 2023G | Series 2023G | Series 2023G |
| 08/01/2041 | &nbsp;&nbsp; 5.000% | 2320000 | &nbsp;&nbsp; 2580780 |
| Series 2025K | Series 2025K | Series 2025K | Series 2025K |
| 11/01/2037 | &nbsp;&nbsp; 5.000% | 950000 | &nbsp;&nbsp; 1114134 |
| Unlimited General Obligation Notes | Unlimited General Obligation Notes | Unlimited General Obligation Notes | Unlimited General Obligation Notes |
| Higher Education | Higher Education | Higher Education | Higher Education |
| Series 2016C | Series 2016C | Series 2016C | Series 2016C |
| 08/01/2033 | &nbsp;&nbsp; 5.000% | 750000 | &nbsp;&nbsp; 759489 |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 08/01/2031 | &nbsp;&nbsp; 3.500% | 500000 | &nbsp;&nbsp; 500015 |
| 08/01/2032 | &nbsp;&nbsp; 3.500% | 500000 | &nbsp;&nbsp; 499357 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 05/01/2034 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 592329 |
| 08/01/2034 | &nbsp;&nbsp; 5.000% | 850000 | &nbsp;&nbsp; 1009661 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18413022** |
| **Transportation 3.7%** | **Transportation 3.7%** | **Transportation 3.7%** | **Transportation 3.7%** |
| State of Oregon Department of Transportation | State of Oregon Department of Transportation | State of Oregon Department of Transportation | State of Oregon Department of Transportation |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Second Lien - GARVEE Program (The) | Second Lien - GARVEE Program (The) | Second Lien - GARVEE Program (The) | Second Lien - GARVEE Program (The) |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 05/15/2038 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1139166 |
| Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon | Tri-County Metropolitan Transportation District of Oregon |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 10/01/2026 | &nbsp;&nbsp; 5.000% | 1235000 | &nbsp;&nbsp; 1254765 |
| 10/01/2027 | &nbsp;&nbsp; 5.000% | 1485000 | &nbsp;&nbsp; 1546185 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 10/01/2032 | &nbsp;&nbsp; 5.000% | 6800000 | &nbsp;&nbsp; 7106946 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11047062** |
| **Water & Sewer 12.2%** | **Water & Sewer 12.2%** | **Water & Sewer 12.2%** | **Water & Sewer 12.2%** |
| City of Beaverton | City of Beaverton | City of Beaverton | City of Beaverton |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 04/01/2034 | &nbsp;&nbsp; 5.000% | 1125000 | &nbsp;&nbsp; 1184451 |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 04/01/2040 | &nbsp;&nbsp; 5.000% | 2070000 | &nbsp;&nbsp; 2339643 |
| City of Bend | City of Bend | City of Bend | City of Bend |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 05/01/2039 | &nbsp;&nbsp; 5.000% | 1390000 | &nbsp;&nbsp; 1490068 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| City of Eugene Water Utility System | City of Eugene Water Utility System | City of Eugene Water Utility System | City of Eugene Water Utility System |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Utility System | Utility System | Utility System | Utility System |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 08/01/2032 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 503380 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 08/01/2040 | &nbsp;&nbsp; 5.000% | 190000 | &nbsp;&nbsp; 212101 |
| 08/01/2041 | &nbsp;&nbsp; 5.000% | 525000 | &nbsp;&nbsp; 583644 |
| City of Portland Sewer System | City of Portland Sewer System | City of Portland Sewer System | City of Portland Sewer System |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| 2nd Lien | 2nd Lien | 2nd Lien | 2nd Lien |
| Subordinated Series 2023A | Subordinated Series 2023A | Subordinated Series 2023A | Subordinated Series 2023A |
| 12/01/2041 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2219028 |
| 12/01/2042 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5494900 |
| 12/01/2043 | &nbsp;&nbsp; 5.000% | 1085000 | &nbsp;&nbsp; 1179133 |
| Subordinated Series 2025A | Subordinated Series 2025A | Subordinated Series 2025A | Subordinated Series 2025A |
| 10/01/2039 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2289023 |
| 10/01/2041 | &nbsp;&nbsp; 5.000% | 1250000 | &nbsp;&nbsp; 1414042 |
| City of Portland Water System | City of Portland Water System | City of Portland Water System | City of Portland Water System |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| 1st Lien | 1st Lien | 1st Lien | 1st Lien |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 04/01/2030 | &nbsp;&nbsp; 4.000% | 7375000 | &nbsp;&nbsp; 7385327 |
| Second Lien | Second Lien | Second Lien | Second Lien |
| Subordinated Series 2024A | Subordinated Series 2024A | Subordinated Series 2024A | Subordinated Series 2024A |
| 05/01/2038 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1715400 |
| City of Springfield Sewer System | City of Springfield Sewer System | City of Springfield Sewer System | City of Springfield Sewer System |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 04/01/2027 | &nbsp;&nbsp; 4.000% | 270000 | &nbsp;&nbsp; 274896 |
| City of Tigard Water | City of Tigard Water | City of Tigard Water | City of Tigard Water |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2025 (BAM) | Series 2025 (BAM) | Series 2025 (BAM) | Series 2025 (BAM) |
| 08/01/2043 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1100157 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Medford Water Commission | Medford Water Commission | Medford Water Commission | Medford Water Commission |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 07/15/2031 | &nbsp;&nbsp; 5.000% | 1120000 | &nbsp;&nbsp; 1267640 |
| 07/15/2032 | &nbsp;&nbsp; 5.000% | 1650000 | &nbsp;&nbsp; 1896171 |
| Tualatin Valley Water District | Tualatin Valley Water District | Tualatin Valley Water District | Tualatin Valley Water District |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 06/01/2040 | &nbsp;&nbsp; 5.000% | 2560000 | &nbsp;&nbsp; 2843370 |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/01/2042 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1103558 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **36495932** |
| Total Municipal Bonds <br>(Cost $294,961,268) | Total Municipal Bonds <br>(Cost $294,961,268) | Total Municipal Bonds <br>(Cost $294,961,268) | &nbsp;&nbsp; **294437250** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Money Market Funds 0.3%** | **Money Market Funds 0.3%** | **Money Market Funds 0.3%** |
|  | **Shares** | **Value ($)** |
| BlackRock Liquidity Funds MuniCash, Institutional <br> Shares, 2.029%<sup>(h)</sup> <br>| &nbsp;&nbsp; 733721 | &nbsp;&nbsp; 733795 |
| Total Money Market Funds <br>(Cost $733,721) | Total Money Market Funds <br>(Cost $733,721) | &nbsp;&nbsp; **733795** |
| **Total Investments in Securities** <br>**(Cost: $296,094,989)** | **Total Investments in Securities** <br>**(Cost: $296,094,989)** | &nbsp;&nbsp; **295571045** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **2648318** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **298219363** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund is entitled to receive principal and interest from the guarantor after a day or a week's notice or upon maturity. The maturity date disclosed represents the final maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Income from this security may be subject to alternative minimum tax.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $2,360,642, which represents 0.79% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Zero coupon bond.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At January 31, 2026, the total value of these securities amounted to $5,708,361, which represents 1.91% of total net assets.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Notes to Portfolio of Investments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;(h) The rate shown is the seven-day current annualized yield at January 31, 2026.

**Abbreviation Legend** 

BAM Build America Mutual Assurance Co.

**Fair value measurements** 

The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund's assumptions about the information market participants would use in pricing an investment. An investment's level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset's or liability's fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

■

Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

■

Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

■

Level 3 — Valuations based on significant unobservable inputs (including the Fund's own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment's fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category, if any, are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The Fund's Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager's organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Floating Rate Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 400000 |
| Municipal Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp; 294437250 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 294437250 |
| Money Market Funds | 733795 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 733795 |
| Total Investments in Securities | 733795 | &nbsp;&nbsp;&nbsp;&nbsp; 294837250 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 295571045 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $296,094,989) | $295571045 |
| Cash | 1433 |
| Receivable for: |  |
| Capital shares sold | 888657 |
| Dividends | 1142 |
| Interest | 2697374 |
| Expense reimbursement due from Investment Manager | 10 |
| Prepaid expenses | 2233 |
| Deferred compensation of board members | 154536 |
| Total assets | 299316430 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 215076 |
| Distributions to shareholders | 648885 |
| Management services fees | 3825 |
| Distribution and/or service fees | 156 |
| Transfer agent fees | 13894 |
| Compensation of chief compliance officer | 24 |
| Compensation of board members | 720 |
| Other expenses | 27761 |
| Deferred compensation of board members | 186726 |
| Total liabilities | 1097067 |
| **Net assets applicable to outstanding capital stock** | **$298219363** |
| **Represented by** |  |
| Paid in capital | 301609491 |
| Total distributable earnings (loss) | (3390128)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$298219363** |
| **Class A** |  |
| Net assets | $22645766 |
| Shares outstanding | 1918737 |
| Net asset value per share | $11.80 |
| 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) | $12.16 |
| **Institutional Class** |  |
| Net assets | $146676512 |
| Shares outstanding | 12427364 |
| Net asset value per share | $11.80 |
| **Institutional 2 Class** |  |
| Net assets | $47630426 |
| Shares outstanding | 4042436 |
| Net asset value per share | $11.78 |
| **Institutional 3 Class** |  |
| Net assets | $61929684 |
| Shares outstanding | 5239270 |
| Net asset value per share | $11.82 |
| **Class S** |  |
| Net assets | $19336975 |
| Shares outstanding | 1638371 |
| Net asset value per share | $11.80 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $15929 |
| Interest | 4489002 |
| Total income | 4504931 |
| Expenses: |  |
| Management services fees | 690907 |
| Distribution and/or service fees |  |
| Class A | 29623 |
| Transfer agent fees |  |
| Class A | 8907 |
| Institutional Class | 54749 |
| Institutional 2 Class | 12236 |
| Institutional 3 Class | 1075 |
| Class S | 7688 |
| Custodian fees | 1240 |
| Printing and postage fees | 9073 |
| Registration fees | 9464 |
| Accounting services fees | 16256 |
| Legal fees | 10511 |
| Compensation of chief compliance officer | 24 |
| Compensation of board members | 7123 |
| Deferred compensation of board members | 4493 |
| Other | 6892 |
| Total expenses | 870261 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (44559)<br>|
| Expense reduction | (180)<br>|
| Total net expenses | 825522 |
| **Net investment income** | 3679409 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 11754 |
| Net realized gain | 11754 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 9566646 |
| Net change in unrealized appreciation (depreciation) | 9566646 |
| Net realized and unrealized gain | 9578400 |
| **Net increase in net assets resulting from operations** | **$13257809** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $3679409 | &nbsp;&nbsp; $7340395 |
| Net realized gain (loss) | 11754 | &nbsp;&nbsp; (676057)<br>|
| Net change in unrealized appreciation (depreciation) | 9566646 | &nbsp;&nbsp; (3575221)<br>|
| Net increase in net assets resulting from operations | 13257809 | &nbsp;&nbsp; 3089117 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (268689)<br>| &nbsp;&nbsp; (569795)<br>|
| Advisor Class |  | &nbsp;&nbsp; (19518)<br>|
| Institutional Class | (1836485)<br>| &nbsp;&nbsp; (3964070)<br>|
| Institutional 2 Class | (589851)<br>| &nbsp;&nbsp; (1158714)<br>|
| Institutional 3 Class | (757361)<br>| &nbsp;&nbsp; (1166267)<br>|
| Class S | (257553)<br>| &nbsp;&nbsp; (463642)<br>|
| Total distributions to shareholders | (3709939)<br>| &nbsp;&nbsp; (7342006)<br>|
| Increase (decrease) in net assets from capital stock activity | 3625104 | &nbsp;&nbsp; (15034808)<br>|
| Total increase (decrease) in net assets | 13172974 | &nbsp;&nbsp; (19287697)<br>|
| Net assets at beginning of period | 285046389 | &nbsp;&nbsp; 304334086 |
| **Net assets at end of period** | **$298219363** | &nbsp;&nbsp; **$285046389** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Statement of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 166169 | &nbsp;&nbsp;&nbsp;&nbsp; 1942537 | &nbsp;&nbsp;&nbsp;&nbsp; 382414 | &nbsp;&nbsp;&nbsp;&nbsp; 4406077 |
| Distributions reinvested | 21737 | &nbsp;&nbsp;&nbsp;&nbsp; 253774 | &nbsp;&nbsp;&nbsp;&nbsp; 47060 | &nbsp;&nbsp;&nbsp;&nbsp; 542367 |
| Shares redeemed | (372492)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4358868)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (575752)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6631651)<br>|
| Net decrease | (184586)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2162557)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (146278)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1683207)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23448 | &nbsp;&nbsp;&nbsp;&nbsp; 272688 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1343 | &nbsp;&nbsp;&nbsp;&nbsp; 15609 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (237325)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2749069)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (212534)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2460772)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 712252 | &nbsp;&nbsp;&nbsp;&nbsp; 8301878 | &nbsp;&nbsp;&nbsp;&nbsp; 1807214 | &nbsp;&nbsp;&nbsp;&nbsp; 20882476 |
| Distributions reinvested | 132750 | &nbsp;&nbsp;&nbsp;&nbsp; 1549809 | &nbsp;&nbsp;&nbsp;&nbsp; 275687 | &nbsp;&nbsp;&nbsp;&nbsp; 3178089 |
| Shares redeemed | (930275)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10857606)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7422399)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (85891822)<br>|
| Net decrease | (85273)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1005919)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5339498)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (61831257)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 637555 | &nbsp;&nbsp;&nbsp;&nbsp; 7427487 | &nbsp;&nbsp;&nbsp;&nbsp; 1181698 | &nbsp;&nbsp;&nbsp;&nbsp; 13600141 |
| Distributions reinvested | 50314 | &nbsp;&nbsp;&nbsp;&nbsp; 586601 | &nbsp;&nbsp;&nbsp;&nbsp; 100269 | &nbsp;&nbsp;&nbsp;&nbsp; 1153731 |
| Shares redeemed | (426947)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4987053)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1884478)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (21664459)<br>|
| Net increase (decrease) | 260922 | &nbsp;&nbsp;&nbsp;&nbsp; 3027035 | &nbsp;&nbsp;&nbsp;&nbsp; (602511)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6910587)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 1003949 | &nbsp;&nbsp;&nbsp;&nbsp; 11726830 | &nbsp;&nbsp;&nbsp;&nbsp; 4267675 | &nbsp;&nbsp;&nbsp;&nbsp; 49271702 |
| Distributions reinvested | 10225 | &nbsp;&nbsp;&nbsp;&nbsp; 119588 | &nbsp;&nbsp;&nbsp;&nbsp; 17584 | &nbsp;&nbsp;&nbsp;&nbsp; 202939 |
| Shares redeemed | (491488)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5737190)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1147064)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13161459)<br>|
| Net increase | 522686 | &nbsp;&nbsp;&nbsp;&nbsp; 6109228 | &nbsp;&nbsp;&nbsp;&nbsp; 3138195 | &nbsp;&nbsp;&nbsp;&nbsp; 36313182 |
| Class S |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2225589 | &nbsp;&nbsp;&nbsp;&nbsp; 25997762 |
| Distributions reinvested | 22066 | &nbsp;&nbsp;&nbsp;&nbsp; 257553 | &nbsp;&nbsp;&nbsp;&nbsp; 40317 | &nbsp;&nbsp;&nbsp;&nbsp; 463602 |
| Shares redeemed | (222477)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2600236)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (427124)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4923531)<br>|
| Net increase (decrease) | (200411)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2342683)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1838782 | &nbsp;&nbsp;&nbsp;&nbsp; 21537833 |
| **Total net increase (decrease)** | **313338** | &nbsp;&nbsp;&nbsp;&nbsp; **3625104** | &nbsp;&nbsp;&nbsp;&nbsp; **(1323844)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(15034808)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.42 | 0.13 | 0.38 | 0.51 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.13)<br>|
| Year Ended 7/31/2025 | $11.58 | 0.25 | &nbsp;&nbsp; (0.16)<br>| 0.09 | &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.25)<br>|
| Year Ended 7/31/2024 | $11.53 | 0.24 | 0.05 | 0.29 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.24)<br>|
| Year Ended 7/31/2023 | $11.75 | 0.23 | &nbsp;&nbsp; (0.22)<br>| 0.01 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.23)<br>|
| Year Ended 7/31/2022 | $12.70 | 0.21 | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.21)<br>|
| Year Ended 7/31/2021 | $12.79 | 0.23 | &nbsp;&nbsp; (0.06)<br>| 0.17 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.26)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.42 | 0.15 | 0.38 | 0.53 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.15)<br>|
| Year Ended 7/31/2025 | $11.58 | 0.28 | &nbsp;&nbsp; (0.16)<br>| 0.12 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.28)<br>|
| Year Ended 7/31/2024 | $11.53 | 0.27 | 0.05 | 0.32 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2023 | $11.75 | 0.26 | &nbsp;&nbsp; (0.22)<br>| 0.04 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.26)<br>|
| Year Ended 7/31/2022 | $12.70 | 0.24 | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.24)<br>|
| Year Ended 7/31/2021 | $12.79 | 0.26 | &nbsp;&nbsp; (0.05)<br>| 0.21 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.30)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.40 | 0.15 | 0.38 | 0.53 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.15)<br>|
| Year Ended 7/31/2025 | $11.56 | 0.29 | &nbsp;&nbsp; (0.16)<br>| 0.13 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.29)<br>|
| Year Ended 7/31/2024 | $11.51 | 0.27 | 0.05 | 0.32 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2023 | $11.73 | 0.26 | &nbsp;&nbsp; (0.22)<br>| 0.04 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.26)<br>|
| Year Ended 7/31/2022 | $12.68 | 0.25 | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.25)<br>|
| Year Ended 7/31/2021 | $12.77 | 0.26 | &nbsp;&nbsp; (0.05)<br>| 0.21 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.30)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.44 | 0.15 | 0.38 | 0.53 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.15)<br>|
| Year Ended 7/31/2025 | $11.60 | 0.29 | &nbsp;&nbsp; (0.16)<br>| 0.13 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.29)<br>|
| Year Ended 7/31/2024 | $11.54 | 0.28 | 0.06 | 0.34 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.28)<br>|
| Year Ended 7/31/2023 | $11.77 | 0.27 | &nbsp;&nbsp; (0.24)<br>| 0.03 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.26)<br>|
| Year Ended 7/31/2022 | $12.72 | 0.25 | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.25)<br>|
| Year Ended 7/31/2021 | $12.81 | 0.27 | &nbsp;&nbsp; (0.05)<br>| 0.22 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.31)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.42 | 0.15 | 0.38 | 0.53 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.15)<br>|
| Year Ended 7/31/2025<sup>(e)</sup> <br>| $11.71 | 0.24 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.24)<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Notes to Financial Highlights**  | **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 interfund lending expense which is less than 0.01%. |
| (e) | Class S shares commenced operations on October 2, 2024. Per share data and total return reflect activity from that date. |

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The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.80 | &nbsp;&nbsp;&nbsp;&nbsp; 4.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.25% | &nbsp;&nbsp;&nbsp;&nbsp; 3% | &nbsp;&nbsp;&nbsp;&nbsp; $22646 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.42 | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% | &nbsp;&nbsp;&nbsp;&nbsp; 0.84% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.20% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $24027 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.58 | &nbsp;&nbsp;&nbsp;&nbsp; 2.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.85% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.12% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $26060 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.53 | &nbsp;&nbsp;&nbsp;&nbsp; 0.08% | &nbsp;&nbsp;&nbsp;&nbsp; 0.84% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.96% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $27181 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $11.75 | &nbsp;&nbsp;&nbsp;&nbsp; (5.83%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.76% | &nbsp;&nbsp;&nbsp;&nbsp; 11% | &nbsp;&nbsp;&nbsp;&nbsp; $36636 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $12.70 | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% | &nbsp;&nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.81% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $44606 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.80 | &nbsp;&nbsp;&nbsp;&nbsp; 4.64% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.50% | &nbsp;&nbsp;&nbsp;&nbsp; 3% | &nbsp;&nbsp;&nbsp;&nbsp; $146677 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.42 | &nbsp;&nbsp;&nbsp;&nbsp; 1.07% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.44% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $142934 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.58 | &nbsp;&nbsp;&nbsp;&nbsp; 2.84% | &nbsp;&nbsp;&nbsp;&nbsp; 0.60% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.37% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $206805 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.53 | &nbsp;&nbsp;&nbsp;&nbsp; 0.33% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.21% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $198557 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $11.75 | &nbsp;&nbsp;&nbsp;&nbsp; (5.60%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.01% | &nbsp;&nbsp;&nbsp;&nbsp; 11% | &nbsp;&nbsp;&nbsp;&nbsp; $241308 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $12.70 | &nbsp;&nbsp;&nbsp;&nbsp; 1.63% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.06% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $266298 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.78 | &nbsp;&nbsp;&nbsp;&nbsp; 4.66% | &nbsp;&nbsp;&nbsp;&nbsp; 0.57% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 2.53% | &nbsp;&nbsp;&nbsp;&nbsp; 3% | &nbsp;&nbsp;&nbsp;&nbsp; $47630 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.40 | &nbsp;&nbsp;&nbsp;&nbsp; 1.10% | &nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.48% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $43123 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.56 | &nbsp;&nbsp;&nbsp;&nbsp; 2.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.40% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $50698 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.51 | &nbsp;&nbsp;&nbsp;&nbsp; 0.35% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.25% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $47323 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $11.73 | &nbsp;&nbsp;&nbsp;&nbsp; (5.58%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp;&nbsp; 2.05% | &nbsp;&nbsp;&nbsp;&nbsp; 11% | &nbsp;&nbsp;&nbsp;&nbsp; $39878 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $12.68 | &nbsp;&nbsp;&nbsp;&nbsp; 1.67% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 2.10% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $33366 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.82 | &nbsp;&nbsp;&nbsp;&nbsp; 4.67% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp; 2.58% | &nbsp;&nbsp;&nbsp;&nbsp; 3% | &nbsp;&nbsp;&nbsp;&nbsp; $61930 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.44 | &nbsp;&nbsp;&nbsp;&nbsp; 1.15% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.57% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $53958 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.60 | &nbsp;&nbsp;&nbsp;&nbsp; 3.01% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.44% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $18309 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.54 | &nbsp;&nbsp;&nbsp;&nbsp; 0.33% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.30% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $23555 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $11.77 | &nbsp;&nbsp;&nbsp;&nbsp; (5.51%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 2.09% | &nbsp;&nbsp;&nbsp;&nbsp; 11% | &nbsp;&nbsp;&nbsp;&nbsp; $10718 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $12.72 | &nbsp;&nbsp;&nbsp;&nbsp; 1.72% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 2.14% | &nbsp;&nbsp;&nbsp;&nbsp; 5% | &nbsp;&nbsp;&nbsp;&nbsp; $10242 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.80 | &nbsp;&nbsp;&nbsp;&nbsp; 4.64% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.50% | &nbsp;&nbsp;&nbsp;&nbsp; 3% | &nbsp;&nbsp;&nbsp;&nbsp; $19337 |
|  Year Ended 7/31/2025 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $11.42 | &nbsp;&nbsp;&nbsp;&nbsp; (0.46%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.51% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $21004 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Oregon Intermediate Municipal Bond Fund (the Fund), a series of Columbia Funds Series Trust I (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**Fund shares**

The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust's organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.

As described in the Fund's prospectus, Class A shares are offered to the general public for investment. Institutional Class, Institutional 2 Class, Institutional 3 Class and Class S shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Debt securities generally are valued based on prices obtained from pricing services, which are intended to reflect market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques that take into account, as applicable, factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as approved independent broker-dealer quotes. Debt securities for which quotations are not readily available or not believed to be reflective of market value may also be valued based upon a bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted.

The Fund may place a debt security on non-accrual status and reduce related interest income when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. The Fund may also adjust accrual rates when it becomes probable the full interest will not be collected and a partial payment will be received. A defaulted debt security is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Dividend income is recorded on the ex-dividend date.

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its net tax-exempt and investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.47% to 0.31% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.47% of the Fund's average daily net assets.

**Compensation of Board members**

Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund's liability for these amounts is adjusted for market value changes and remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees' fees deferred during the current period as well as any gains or losses on the Trustees' deferred compensation balances as a result of market fluctuations, is included in "Deferred compensation of board members" in the Statement of Operations.

**Compensation of Chief Compliance Officer**

The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer's total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.08 |
| Institutional Class | 0.08 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class S | 0.08 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $180.

**Distribution and service fees**

The Fund has entered into an agreement with Columbia Management Investment Distributors, Inc. (the Distributor), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, for distribution and shareholder services. The Board of Trustees has approved, and the Fund has adopted, a distribution and shareholder service plan (the Plan) applicable to Class A shares, which sets the distribution and service fees for the Fund. These fees are calculated daily and are intended to compensate the Distributor and/or eligible selling and/or servicing agents for selling shares of the Fund and providing services to investors.

Under the Plan, the Fund pays a monthly service fee to the Distributor at the maximum annual rate of 0.25% of the average daily net assets attributable to Class A of the Fund. Also under the Plan, the Fund pays a monthly distribution fee to the Distributor at the maximum annual rate of 0.10% of the average daily net assets attributable to Class A shares of the Fund.

Although the Fund may pay distribution and service fees up to a maximum annual rate of 0.35% of the Fund's average daily net assets attributable to Class A shares (comprised of up to 0.10% for distribution services and up to 0.25% for shareholder services), the Fund currently limits such fees to an aggregate fee of not more than 0.25% of the Fund's average daily net assets attributable to Class A shares.

**Sales charges** 

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the six months ended January 31, 2026, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 3.00<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.75 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4441 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase.

The Fund's other share classes are not subject to sales charges.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.56 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.52 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.48 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.56 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. In addition to the contractual agreement, the Investment Manager and certain of its affiliates have voluntarily agreed to waive fees and/or reimburse Fund expenses (excluding certain fees and expenses described above) so that Fund level expenses (expenses directly attributable to the Fund and not to a specific share class) are waived proportionately across all share classes. This arrangement may be revised or discontinued at any time. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>|
| 296095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2917000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3441000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (524000)<br>|

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

The following capital loss carryforwards, determined at July 31, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code.

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
| (203478)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2994045)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3197523)<br>|

---

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $13,494,091 and $8,131,851, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Interfund lending

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.

Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager's relationship with each Participating Fund.

The Fund did not borrow or lend money under the Interfund Program during the six months ended January 31, 2026.

Note 7. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 8. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

Note 9. Subsequent events

Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosure.

Note 10. Information regarding pending and settled legal proceedings

Ameriprise Financial and certain of its affiliates are involved, in the normal course of business, in legal proceedings that include regulatory inquiries, arbitration and litigation (including class actions) concerning matters arising in connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund. Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the Securities and Exchange Commission (SEC) on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss that may result from such matters. An adverse outcome in one or more of these proceedings could result in adverse judgments, settlements, fines, penalties or other relief, and may lead to further claims, examinations, adverse publicity or reputational damage, each of which could have a material adverse effect on the consolidated financial condition or results of operations or financial condition of Ameriprise Financial or one or more of its affiliates that provide services to the Fund.

Columbia Oregon Intermediate Municipal Bond Fund \| 2026

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**Columbia Oregon Intermediate Municipal Bond Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g270970imgcdc7f6432.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR207_07_T01_(03/26)

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![](g270970img63b259011.jpg)

Columbia Total Return Municipal Income Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_056050b4-ec4f-4aca-b95c-bfd1082bf3df_POI-CommonContent-Date-139_1) | 3 |
| [Statement of Assets and Liabilities](#xx_056050b4-ec4f-4aca-b95c-bfd1082bf3df_FS-CommonContent-Date-139_1) | 21 |
| [Statement of Operations](#xx_056050b4-ec4f-4aca-b95c-bfd1082bf3df_FS-CommonContent-Date-139_2) | 22 |
| [Statement of Changes in Net Assets](#xx_056050b4-ec4f-4aca-b95c-bfd1082bf3df_FS-CommonContent-Date-139_3) | 23 |
| [Financial Highlights](#xx_056050b4-ec4f-4aca-b95c-bfd1082bf3df_FIHI-CommonContent-Date-139_2) | 26 |
| [Notes to Financial Statements](#xx_056050b4-ec4f-4aca-b95c-bfd1082bf3df_NTF-CommonContent-Date-139_1) | 30 |

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Columbia Total Return Municipal Income Fund \| 2026

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Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Floating Rate Notes 2.7%** | **Floating Rate Notes 2.7%** | **Floating Rate Notes 2.7%** | **Floating Rate Notes 2.7%** |
| **Issue Description** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **New York 2.7%** | **New York 2.7%** | **New York 2.7%** | **New York 2.7%** |
| City of New York<sup>(a),(b)</sup>  | City of New York<sup>(a),(b)</sup>  | City of New York<sup>(a),(b)</sup>  | City of New York<sup>(a),(b)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Fiscal 2015 | Fiscal 2015 | Fiscal 2015 | Fiscal 2015 |
| Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) |
| 06/01/2044 | &nbsp;&nbsp; 3.250% | 9780000 | &nbsp;&nbsp; 9780000 |
| Subordinated Series 2014I-2 (JPMorgan Chase Bank) | Subordinated Series 2014I-2 (JPMorgan Chase Bank) | Subordinated Series 2014I-2 (JPMorgan Chase Bank) | Subordinated Series 2014I-2 (JPMorgan Chase Bank) |
| 03/01/2040 | &nbsp;&nbsp; 3.250% | 9500000 | &nbsp;&nbsp; 9500000 |
| New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  | New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  | New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  | New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2011 (JPMorgan Chase Bank) | Series 2011 (JPMorgan Chase Bank) | Series 2011 (JPMorgan Chase Bank) | Series 2011 (JPMorgan Chase Bank) |
| 06/15/2044 | &nbsp;&nbsp; 3.250% | 4710000 | &nbsp;&nbsp; 4710000 |
| New York City Transitional Finance Authority<sup>(a),(b)</sup>  | New York City Transitional Finance Authority<sup>(a),(b)</sup>  | New York City Transitional Finance Authority<sup>(a),(b)</sup>  | New York City Transitional Finance Authority<sup>(a),(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Future Tax Secured | Future Tax Secured | Future Tax Secured | Future Tax Secured |
| Subordinated Series 2012C (JPMorgan Chase Bank) | Subordinated Series 2012C (JPMorgan Chase Bank) | Subordinated Series 2012C (JPMorgan Chase Bank) | Subordinated Series 2012C (JPMorgan Chase Bank) |
| 11/01/2036 | &nbsp;&nbsp; 3.250% | 3000000 | &nbsp;&nbsp; 3000000 |
| Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) |
| 02/01/2045 | &nbsp;&nbsp; 3.250% | 4000000 | &nbsp;&nbsp; 4000000 |
| Subordinated Series 2016 (JPMorgan Chase Bank) | Subordinated Series 2016 (JPMorgan Chase Bank) | Subordinated Series 2016 (JPMorgan Chase Bank) | Subordinated Series 2016 (JPMorgan Chase Bank) |
| 02/01/2045 | &nbsp;&nbsp; 3.250% | 3000000 | &nbsp;&nbsp; 3000000 |
| Subordinated Series 2018 (JPMorgan Chase Bank) | Subordinated Series 2018 (JPMorgan Chase Bank) | Subordinated Series 2018 (JPMorgan Chase Bank) | Subordinated Series 2018 (JPMorgan Chase Bank) |
| 08/01/2042 | &nbsp;&nbsp; 3.250% | 9800000 | &nbsp;&nbsp; 9800000 |
| New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 2nd General Resolution | 2nd General Resolution | 2nd General Resolution | 2nd General Resolution |
| Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) |
| 06/15/2050 | &nbsp;&nbsp; 3.250% | 2175000 | &nbsp;&nbsp; 2175000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **45965000** |
| Total Floating Rate Notes <br>(Cost $45,965,000) | Total Floating Rate Notes <br>(Cost $45,965,000) | Total Floating Rate Notes <br>(Cost $45,965,000) | &nbsp;&nbsp; **45965000** |
| **Municipal Bonds 92.9%** | **Municipal Bonds 92.9%** | **Municipal Bonds 92.9%** | **Municipal Bonds 92.9%** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Alabama 3.7%** | **Alabama 3.7%** | **Alabama 3.7%** | **Alabama 3.7%** |
| Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  | Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  | Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  | Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Novelis Corp. Project | Novelis Corp. Project | Novelis Corp. Project | Novelis Corp. Project |
| Series 2025 (Mandatory Put 06/01/32) | Series 2025 (Mandatory Put 06/01/32) | Series 2025 (Mandatory Put 06/01/32) | Series 2025 (Mandatory Put 06/01/32) |
| 06/01/2055 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2554798 |
| Black Belt Energy Gas District | Black Belt Energy Gas District | Black Belt Energy Gas District | Black Belt Energy Gas District |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Gas Project | Gas Project | Gas Project | Gas Project |
| Series 2023D-1 (Mandatory Put 02/01/29) | Series 2023D-1 (Mandatory Put 02/01/29) | Series 2023D-1 (Mandatory Put 02/01/29) | Series 2023D-1 (Mandatory Put 02/01/29) |
| 06/01/2049 | &nbsp;&nbsp; 5.500% | 3200000 | &nbsp;&nbsp; 3393785 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Gas Project | Gas Project | Gas Project | Gas Project |
| Series 2025G | Series 2025G | Series 2025G | Series 2025G |
| 10/01/2035 | &nbsp;&nbsp; 5.000% | 4170000 | &nbsp;&nbsp; 4481808 |
| Black Belt Energy Gas District<sup>(b)</sup>  | Black Belt Energy Gas District<sup>(b)</sup>  | Black Belt Energy Gas District<sup>(b)</sup>  | Black Belt Energy Gas District<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Gas Project | Gas Project | Gas Project | Gas Project |
| Series 2025A (Mandatory Put 05/01/32) | Series 2025A (Mandatory Put 05/01/32) | Series 2025A (Mandatory Put 05/01/32) | Series 2025A (Mandatory Put 05/01/32) |
| 05/01/2056 | &nbsp;&nbsp; 5.250% | 7000000 | &nbsp;&nbsp; 7279620 |
| Series 2025E (Mandatory Put 05/01/35) | Series 2025E (Mandatory Put 05/01/35) | Series 2025E (Mandatory Put 05/01/35) | Series 2025E (Mandatory Put 05/01/35) |
| 12/01/2055 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2680679 |
| Series 2024A (Mandatory Put 09/01/32) | Series 2024A (Mandatory Put 09/01/32) | Series 2024A (Mandatory Put 09/01/32) | Series 2024A (Mandatory Put 09/01/32) |
| 05/01/2055 | &nbsp;&nbsp; 5.250% | 6500000 | &nbsp;&nbsp; 7012188 |
| Series 2024D (Mandatory Put 11/01/34) | Series 2024D (Mandatory Put 11/01/34) | Series 2024D (Mandatory Put 11/01/34) | Series 2024D (Mandatory Put 11/01/34) |
| 03/01/2055 | &nbsp;&nbsp; 5.000% | 10000000 | &nbsp;&nbsp; 10800011 |
| County of Jefferson Sewer | County of Jefferson Sewer | County of Jefferson Sewer | County of Jefferson Sewer |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 10/01/2049 | &nbsp;&nbsp; 5.250% | 7500000 | &nbsp;&nbsp; 7791832 |
| Homewood Educational Building Authority | Homewood Educational Building Authority | Homewood Educational Building Authority | Homewood Educational Building Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Recreation Center Project at Samford University | Recreation Center Project at Samford University | Recreation Center Project at Samford University | Recreation Center Project at Samford University |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 10/01/2054 | &nbsp;&nbsp; 5.500% | 1500000 | &nbsp;&nbsp; 1510777 |
| Student Housing & Parking Project | Student Housing & Parking Project | Student Housing & Parking Project | Student Housing & Parking Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 10/01/2056 | &nbsp;&nbsp; 5.000% | 1685000 | &nbsp;&nbsp; 1572650 |
| Southeast Energy Authority | Southeast Energy Authority | Southeast Energy Authority | Southeast Energy Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Project #4 | Project #4 | Project #4 | Project #4 |
| Series 2002B-1 (Mandatory Put 08/01/28) | Series 2002B-1 (Mandatory Put 08/01/28) | Series 2002B-1 (Mandatory Put 08/01/28) | Series 2002B-1 (Mandatory Put 08/01/28) |
| 05/01/2053 | &nbsp;&nbsp; 5.000% | 8695000 | &nbsp;&nbsp; 9054269 |
| Southeast Energy Authority A Cooperative District | Southeast Energy Authority A Cooperative District | Southeast Energy Authority A Cooperative District | Southeast Energy Authority A Cooperative District |
| Series 2025E | Series 2025E | Series 2025E | Series 2025E |
| 10/01/2030 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5428533 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **63560950** |
| **Arizona 1.0%** | **Arizona 1.0%** | **Arizona 1.0%** | **Arizona 1.0%** |
| Arizona Industrial Development Authority | Arizona Industrial Development Authority | Arizona Industrial Development Authority | Arizona Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Equitable School Revolving Fund | Equitable School Revolving Fund | Equitable School Revolving Fund | Equitable School Revolving Fund |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2054 | &nbsp;&nbsp; 5.000% | 1250000 | &nbsp;&nbsp; 1257048 |
| Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  | Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  | Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  | Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| American Leadership Academy | American Leadership Academy | American Leadership Academy | American Leadership Academy |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/15/2051 | &nbsp;&nbsp; 4.000% | 1300000 | &nbsp;&nbsp; 990202 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| La Paz County Industrial Development Authority | La Paz County Industrial Development Authority | La Paz County Industrial Development Authority | La Paz County Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Charter School Solutions - Harmony Public Schools Project | Charter School Solutions - Harmony Public Schools Project | Charter School Solutions - Harmony Public Schools Project | Charter School Solutions - Harmony Public Schools Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 02/15/2038 | &nbsp;&nbsp; 5.000% | 825000 | &nbsp;&nbsp; 838873 |
| 02/15/2048 | &nbsp;&nbsp; 5.000% | 775000 | &nbsp;&nbsp; 742906 |
| Maricopa County Industrial Development Authority | Maricopa County Industrial Development Authority | Maricopa County Industrial Development Authority | Maricopa County Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Legacy Traditional Schools Project | Legacy Traditional Schools Project | Legacy Traditional Schools Project | Legacy Traditional Schools Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 07/01/2039 | &nbsp;&nbsp; 4.000% | 2410000 | &nbsp;&nbsp; 2297487 |
| 07/01/2044 | &nbsp;&nbsp; 4.250% | 1700000 | &nbsp;&nbsp; 1520233 |
| Salt Verde Financial Corp. | Salt Verde Financial Corp. | Salt Verde Financial Corp. | Salt Verde Financial Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2007 | Series 2007 | Series 2007 | Series 2007 |
| 12/01/2032 | &nbsp;&nbsp; 5.000% | 7170000 | &nbsp;&nbsp; 7875620 |
| Sierra Vista Industrial Development Authority<sup>(c)</sup>  | Sierra Vista Industrial Development Authority<sup>(c)</sup>  | Sierra Vista Industrial Development Authority<sup>(c)</sup>  | Sierra Vista Industrial Development Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| American Leadership Academy Project | American Leadership Academy Project | American Leadership Academy Project | American Leadership Academy Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/15/2059 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 867722 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **16390091** |
| **California 3.5%** | **California 3.5%** | **California 3.5%** | **California 3.5%** |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  | Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  | Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  | Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024B (AGM) | Series 2024B (AGM) | Series 2024B (AGM) | Series 2024B (AGM) |
| 07/01/2049 | &nbsp;&nbsp; 4.375% | 2250000 | &nbsp;&nbsp; 2157745 |
| 07/01/2054 | &nbsp;&nbsp; 4.500% | 2700000 | &nbsp;&nbsp; 2581030 |
| California Community Choice Financing Authority<sup>(b)</sup>  | California Community Choice Financing Authority<sup>(b)</sup>  | California Community Choice Financing Authority<sup>(b)</sup>  | California Community Choice Financing Authority<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Clean Energy Project | Clean Energy Project | Clean Energy Project | Clean Energy Project |
| Series 2025 (Mandatory Put 07/01/34) | Series 2025 (Mandatory Put 07/01/34) | Series 2025 (Mandatory Put 07/01/34) | Series 2025 (Mandatory Put 07/01/34) |
| 10/01/2055 | &nbsp;&nbsp; 5.000% | 7000000 | &nbsp;&nbsp; 7361766 |
| Series 2025 (Mandatory Put 11/01/35) | Series 2025 (Mandatory Put 11/01/35) | Series 2025 (Mandatory Put 11/01/35) | Series 2025 (Mandatory Put 11/01/35) |
| 01/01/2056 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1638163 |
| Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project |
| Series 2023 (Mandatory Put 11/01/30) | Series 2023 (Mandatory Put 11/01/30) | Series 2023 (Mandatory Put 11/01/30) | Series 2023 (Mandatory Put 11/01/30) |
| 10/01/2054 | &nbsp;&nbsp; 5.500% | 3455000 | &nbsp;&nbsp; 3758075 |
| Series 2025A (Mandatory Put 05/01/35) | Series 2025A (Mandatory Put 05/01/35) | Series 2025A (Mandatory Put 05/01/35) | Series 2025A (Mandatory Put 05/01/35) |
| 01/01/2056 | &nbsp;&nbsp; 5.000% | 550000 | &nbsp;&nbsp; 583629 |
| California Community Choice Financing Authority | California Community Choice Financing Authority | California Community Choice Financing Authority | California Community Choice Financing Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project |
| Series 2023 (Mandatory Put 03/01/31) | Series 2023 (Mandatory Put 03/01/31) | Series 2023 (Mandatory Put 03/01/31) | Series 2023 (Mandatory Put 03/01/31) |
| 02/01/2054 | &nbsp;&nbsp; 5.000% | 5700000 | &nbsp;&nbsp; 6088422 |
| California Health Facilities Financing Authority | California Health Facilities Financing Authority | California Health Facilities Financing Authority | California Health Facilities Financing Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Sutter Health | Sutter Health | Sutter Health | Sutter Health |
| Series 2016B | Series 2016B | Series 2016B | Series 2016B |
| 11/15/2041 | &nbsp;&nbsp; 4.000% | 10000000 | &nbsp;&nbsp; 9935087 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| California Municipal Finance Authority<sup>(c),(d),(e)</sup>  | California Municipal Finance Authority<sup>(c),(d),(e)</sup>  | California Municipal Finance Authority<sup>(c),(d),(e)</sup>  | California Municipal Finance Authority<sup>(c),(d),(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| UTS Renewable Energy-Waste Water Facilities | UTS Renewable Energy-Waste Water Facilities | UTS Renewable Energy-Waste Water Facilities | UTS Renewable Energy-Waste Water Facilities |
| Series 2011 | Series 2011 | Series 2011 | Series 2011 |
| 12/01/2032 | &nbsp;&nbsp; 0.000% | 1830000 | &nbsp;&nbsp; 36600 |
| City of Los Angeles Department of Airports<sup>(d)</sup>  | City of Los Angeles Department of Airports<sup>(d)</sup>  | City of Los Angeles Department of Airports<sup>(d)</sup>  | City of Los Angeles Department of Airports<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Subordinated Series 2025 | Subordinated Series 2025 | Subordinated Series 2025 | Subordinated Series 2025 |
| 05/15/2055 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1528336 |
| 05/15/2055 | &nbsp;&nbsp; 5.500% | 2225000 | &nbsp;&nbsp; 2356647 |
| San Diego County Regional Airport Authority<sup>(d)</sup>  | San Diego County Regional Airport Authority<sup>(d)</sup>  | San Diego County Regional Airport Authority<sup>(d)</sup>  | San Diego County Regional Airport Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Private Activity | Private Activity | Private Activity | Private Activity |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 07/01/2053 | &nbsp;&nbsp; 5.000% | 4250000 | &nbsp;&nbsp; 4324906 |
| 07/01/2058 | &nbsp;&nbsp; 5.250% | 10000000 | &nbsp;&nbsp; 10311764 |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2042 | &nbsp;&nbsp; 5.250% | 1185000 | &nbsp;&nbsp; 1321771 |
| San Francisco City & County Airport Commission<sup>(d)</sup>  | San Francisco City & County Airport Commission<sup>(d)</sup>  | San Francisco City & County Airport Commission<sup>(d)</sup>  | San Francisco City & County Airport Commission<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Second Series 2025A | Second Series 2025A | Second Series 2025A | Second Series 2025A |
| 05/01/2055 | &nbsp;&nbsp; 5.500% | 3015000 | &nbsp;&nbsp; 3195106 |
| San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  | San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  | San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  | San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Clean Energy Project | Clean Energy Project | Clean Energy Project | Clean Energy Project |
| Series 2025 (Mandatory Put 07/01/35) | Series 2025 (Mandatory Put 07/01/35) | Series 2025 (Mandatory Put 07/01/35) | Series 2025 (Mandatory Put 07/01/35) |
| 01/01/2056 | &nbsp;&nbsp; 5.500% | 1445000 | &nbsp;&nbsp; 1624349 |
| State of California | State of California | State of California | State of California |
| Unrefunded Unlimited General Obligation Bonds | Unrefunded Unlimited General Obligation Bonds | Unrefunded Unlimited General Obligation Bonds | Unrefunded Unlimited General Obligation Bonds |
| Series 2004 | Series 2004 | Series 2004 | Series 2004 |
| 04/01/2029 | &nbsp;&nbsp; 5.300% | 6000 | &nbsp;&nbsp; 6016 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **58809412** |
| **Colorado 2.3%** | **Colorado 2.3%** | **Colorado 2.3%** | **Colorado 2.3%** |
| City & County of Denver Airport System<sup>(d)</sup>  | City & County of Denver Airport System<sup>(d)</sup>  | City & County of Denver Airport System<sup>(d)</sup>  | City & County of Denver Airport System<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Subordinated Series 2018A | Subordinated Series 2018A | Subordinated Series 2018A | Subordinated Series 2018A |
| 12/01/2043 | &nbsp;&nbsp; 4.000% | 11000000 | &nbsp;&nbsp; 10480039 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 11/15/2053 | &nbsp;&nbsp; 5.500% | 2400000 | &nbsp;&nbsp; 2506748 |
| Colorado Bridge & Tunnel Enterprise | Colorado Bridge & Tunnel Enterprise | Colorado Bridge & Tunnel Enterprise | Colorado Bridge & Tunnel Enterprise |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) |
| 12/01/2054 | &nbsp;&nbsp; 5.250% | 2500000 | &nbsp;&nbsp; 2624583 |
| Colorado Bridge Enterprise<sup>(d)</sup>  | Colorado Bridge Enterprise<sup>(d)</sup>  | Colorado Bridge Enterprise<sup>(d)</sup>  | Colorado Bridge Enterprise<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Central 70 Project | Central 70 Project | Central 70 Project | Central 70 Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 06/30/2051 | &nbsp;&nbsp; 4.000% | 9240000 | &nbsp;&nbsp; 7824772 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Colorado Health Facilities Authority | Colorado Health Facilities Authority | Colorado Health Facilities Authority | Colorado Health Facilities Authority |
| Improvement Refunding Revenue Bonds | Improvement Refunding Revenue Bonds | Improvement Refunding Revenue Bonds | Improvement Refunding Revenue Bonds |
| Bethesda Project | Bethesda Project | Bethesda Project | Bethesda Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 09/15/2048 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2435758 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| CommonSpirit Health | CommonSpirit Health | CommonSpirit Health | CommonSpirit Health |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 08/01/2049 | &nbsp;&nbsp; 4.000% | 2000000 | &nbsp;&nbsp; 1709437 |
| Series 2019A (BAM) | Series 2019A (BAM) | Series 2019A (BAM) | Series 2019A (BAM) |
| 08/01/2049 | &nbsp;&nbsp; 4.000% | 6640000 | &nbsp;&nbsp; 5837263 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| CommonSpirit Health Obligation Group | CommonSpirit Health Obligation Group | CommonSpirit Health Obligation Group | CommonSpirit Health Obligation Group |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2052 | &nbsp;&nbsp; 5.250% | 4000000 | &nbsp;&nbsp; 4091928 |
| Fiddlers Business Improvement District<sup>(c)</sup>  | Fiddlers Business Improvement District<sup>(c)</sup>  | Fiddlers Business Improvement District<sup>(c)</sup>  | Fiddlers Business Improvement District<sup>(c)</sup>  |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2047 | &nbsp;&nbsp; 5.550% | 800000 | &nbsp;&nbsp; 809978 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **38320506** |
| **Connecticut 0.1%** | **Connecticut 0.1%** | **Connecticut 0.1%** | **Connecticut 0.1%** |
| Connecticut State Health & Educational Facilities Authority<sup>(c)</sup>  | Connecticut State Health & Educational Facilities Authority<sup>(c)</sup>  | Connecticut State Health & Educational Facilities Authority<sup>(c)</sup>  | Connecticut State Health & Educational Facilities Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Church Home of Hartford, Inc. | Church Home of Hartford, Inc. | Church Home of Hartford, Inc. | Church Home of Hartford, Inc. |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 09/01/2046 | &nbsp;&nbsp; 5.000% | 1250000 | &nbsp;&nbsp; 1205567 |
| State of Connecticut | State of Connecticut | State of Connecticut | State of Connecticut |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 03/15/2045 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1077312 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2282879** |
| **Delaware 0.2%** | **Delaware 0.2%** | **Delaware 0.2%** | **Delaware 0.2%** |
| Delaware State Housing Authority | Delaware State Housing Authority | Delaware State Housing Authority | Delaware State Housing Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024B (GNMA) | Series 2024B (GNMA) | Series 2024B (GNMA) | Series 2024B (GNMA) |
| 07/01/2044 | &nbsp;&nbsp; 4.600% | 1115000 | &nbsp;&nbsp; 1125808 |
| 07/01/2049 | &nbsp;&nbsp; 4.650% | 980000 | &nbsp;&nbsp; 980934 |
| 07/01/2054 | &nbsp;&nbsp; 4.750% | 785000 | &nbsp;&nbsp; 781587 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2888329** |
| **District of Columbia 1.2%** | **District of Columbia 1.2%** | **District of Columbia 1.2%** | **District of Columbia 1.2%** |
| District of Columbia | District of Columbia | District of Columbia | District of Columbia |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| KIPP DC Project | KIPP DC Project | KIPP DC Project | KIPP DC Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 07/01/2044 | &nbsp;&nbsp; 4.000% | 1240000 | &nbsp;&nbsp; 1117447 |
| District of Columbia Income Tax | District of Columbia Income Tax | District of Columbia Income Tax | District of Columbia Income Tax |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 05/01/2048 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5289842 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Metropolitan Washington Airports Authority<sup>(d)</sup>  | Metropolitan Washington Airports Authority<sup>(d)</sup>  | Metropolitan Washington Airports Authority<sup>(d)</sup>  | Metropolitan Washington Airports Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 10/01/2048 | &nbsp;&nbsp; 5.250% | 3000000 | &nbsp;&nbsp; 3100683 |
| Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  | Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  | Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  | Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 10/01/2049 | &nbsp;&nbsp; 5.250% | 4375000 | &nbsp;&nbsp; 4538214 |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 10/01/2050 | &nbsp;&nbsp; 5.000% | 850000 | &nbsp;&nbsp; 869017 |
| Metropolitan Washington Airports Authority Dulles Toll Road | Metropolitan Washington Airports Authority Dulles Toll Road | Metropolitan Washington Airports Authority Dulles Toll Road | Metropolitan Washington Airports Authority Dulles Toll Road |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Dulles Metrorail | Dulles Metrorail | Dulles Metrorail | Dulles Metrorail |
| Subordinated Series 2019 | Subordinated Series 2019 | Subordinated Series 2019 | Subordinated Series 2019 |
| 10/01/2049 | &nbsp;&nbsp; 4.000% | 5450000 | &nbsp;&nbsp; 4772014 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **19687217** |
| **Florida 2.0%** | **Florida 2.0%** | **Florida 2.0%** | **Florida 2.0%** |
| Capital Trust Agency, Inc.<sup>(c)</sup>  | Capital Trust Agency, Inc.<sup>(c)</sup>  | Capital Trust Agency, Inc.<sup>(c)</sup>  | Capital Trust Agency, Inc.<sup>(c)</sup>  |
| 04/27/2021 | 04/27/2021 | 04/27/2021 | 04/27/2021 |
| 07/01/2056 | &nbsp;&nbsp; 5.000% | 4625000 | &nbsp;&nbsp; 3948843 |
| Capital Trust Agency, Inc.<sup>(c),(e)</sup>  | Capital Trust Agency, Inc.<sup>(c),(e)</sup>  | Capital Trust Agency, Inc.<sup>(c),(e)</sup>  | Capital Trust Agency, Inc.<sup>(c),(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 1st Mortgage Tallahassee Tapestry Senior Housing Project | 1st Mortgage Tallahassee Tapestry Senior Housing Project | 1st Mortgage Tallahassee Tapestry Senior Housing Project | 1st Mortgage Tallahassee Tapestry Senior Housing Project |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 12/01/2045 | &nbsp;&nbsp; 0.000% | 3760000 | &nbsp;&nbsp; 451200 |
| 12/01/2050 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 120000 |
| Capital Trust Authority<sup>(c)</sup>  | Capital Trust Authority<sup>(c)</sup>  | Capital Trust Authority<sup>(c)</sup>  | Capital Trust Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| IPS Enterprises, Inc. | IPS Enterprises, Inc. | IPS Enterprises, Inc. | IPS Enterprises, Inc. |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 06/15/2053 | &nbsp;&nbsp; 6.250% | 4000000 | &nbsp;&nbsp; 4065087 |
| City of Atlantic Beach | City of Atlantic Beach | City of Atlantic Beach | City of Atlantic Beach |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fleet Landing Project | Fleet Landing Project | Fleet Landing Project | Fleet Landing Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 11/15/2048 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2424245 |
| County of Lee Airport<sup>(d)</sup>  | County of Lee Airport<sup>(d)</sup>  | County of Lee Airport<sup>(d)</sup>  | County of Lee Airport<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 10/01/2049 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 2072458 |
| Florida Housing Finance Corp. | Florida Housing Finance Corp. | Florida Housing Finance Corp. | Florida Housing Finance Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018 (GNMA) | Series 2018 (GNMA) | Series 2018 (GNMA) | Series 2018 (GNMA) |
| 07/01/2043 | &nbsp;&nbsp; 3.800% | 1395000 | &nbsp;&nbsp; 1346645 |
| Florida Local Government Finance Commission<sup>(c)</sup>  | Florida Local Government Finance Commission<sup>(c)</sup>  | Florida Local Government Finance Commission<sup>(c)</sup>  | Florida Local Government Finance Commission<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fleet Landing at Nocatee Project | Fleet Landing at Nocatee Project | Fleet Landing at Nocatee Project | Fleet Landing at Nocatee Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 11/15/2031 | &nbsp;&nbsp; 4.700% | 1300000 | &nbsp;&nbsp; 1319867 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Hillsborough County Industrial Developme | Hillsborough County Industrial Developme | Hillsborough County Industrial Developme | Hillsborough County Industrial Developme |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| BayCare Health System | BayCare Health System | BayCare Health System | BayCare Health System |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/15/2051 | &nbsp;&nbsp; 4.125% | 7250000 | &nbsp;&nbsp; 6584711 |
| Sarasota County Public Hospital District | Sarasota County Public Hospital District | Sarasota County Public Hospital District | Sarasota County Public Hospital District |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Sarasota Memorial Hospital | Sarasota Memorial Hospital | Sarasota Memorial Hospital | Sarasota Memorial Hospital |
| Series 1998B (NPFGC) | Series 1998B (NPFGC) | Series 1998B (NPFGC) | Series 1998B (NPFGC) |
| 07/01/2028 | &nbsp;&nbsp; 5.500% | 1470000 | &nbsp;&nbsp; 1528630 |
| Tampa-Hillsborough County Expressway Authority | Tampa-Hillsborough County Expressway Authority | Tampa-Hillsborough County Expressway Authority | Tampa-Hillsborough County Expressway Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017B | Series 2017B | Series 2017B | Series 2017B |
| 07/01/2042 | &nbsp;&nbsp; 4.000% | 7785000 | &nbsp;&nbsp; 7745328 |
| Village Community Development District No. 16 | Village Community Development District No. 16 | Village Community Development District No. 16 | Village Community Development District No. 16 |
| Special Assessment Bonds | Special Assessment Bonds | Special Assessment Bonds | Special Assessment Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 05/01/2045 | &nbsp;&nbsp; 4.875% | 1500000 | &nbsp;&nbsp; 1503954 |
| 05/01/2056 | &nbsp;&nbsp; 5.125% | 1750000 | &nbsp;&nbsp; 1737545 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **34848513** |
| **Georgia 3.2%** | **Georgia 3.2%** | **Georgia 3.2%** | **Georgia 3.2%** |
| City of Atlanta Department of Aviation<sup>(d)</sup>  | City of Atlanta Department of Aviation<sup>(d)</sup>  | City of Atlanta Department of Aviation<sup>(d)</sup>  | City of Atlanta Department of Aviation<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Bonds | Sustainable Bonds | Sustainable Bonds | Sustainable Bonds |
| Series 2025B-1 | Series 2025B-1 | Series 2025B-1 | Series 2025B-1 |
| 07/01/2050 | &nbsp;&nbsp; 5.250% | 4985000 | &nbsp;&nbsp; 5170594 |
| Main Street Natural Gas, Inc. | Main Street Natural Gas, Inc. | Main Street Natural Gas, Inc. | Main Street Natural Gas, Inc. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2022B (Mandatory Put 06/01/29) | Series 2022B (Mandatory Put 06/01/29) | Series 2022B (Mandatory Put 06/01/29) | Series 2022B (Mandatory Put 06/01/29) |
| 12/01/2052 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5241986 |
| Series 2023A (Mandatory Put 06/01/30) | Series 2023A (Mandatory Put 06/01/30) | Series 2023A (Mandatory Put 06/01/30) | Series 2023A (Mandatory Put 06/01/30) |
| 06/01/2053 | &nbsp;&nbsp; 5.000% | 18300000 | &nbsp;&nbsp; 19427769 |
| Series 2023C (Mandatory Put 09/01/30) | Series 2023C (Mandatory Put 09/01/30) | Series 2023C (Mandatory Put 09/01/30) | Series 2023C (Mandatory Put 09/01/30) |
| 09/01/2053 | &nbsp;&nbsp; 5.000% | 4500000 | &nbsp;&nbsp; 4783385 |
| Series 2025A (Mandatory Put 06/01/32) | Series 2025A (Mandatory Put 06/01/32) | Series 2025A (Mandatory Put 06/01/32) | Series 2025A (Mandatory Put 06/01/32) |
| 06/01/2055 | &nbsp;&nbsp; 5.000% | 5760000 | &nbsp;&nbsp; 6219853 |
| Municipal Electric Authority of Georgia | Municipal Electric Authority of Georgia | Municipal Electric Authority of Georgia | Municipal Electric Authority of Georgia |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Plant Vogtle Units 3&4 Project | Plant Vogtle Units 3&4 Project | Plant Vogtle Units 3&4 Project | Plant Vogtle Units 3&4 Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 07/01/2063 | &nbsp;&nbsp; 5.500% | 5300000 | &nbsp;&nbsp; 5453160 |
| Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) |
| 07/01/2052 | &nbsp;&nbsp; 5.000% | 5300000 | &nbsp;&nbsp; 5358670 |
| Oconee County Industrial Development Authority | Oconee County Industrial Development Authority | Oconee County Industrial Development Authority | Oconee County Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Presbyterian Village Athens Project | Presbyterian Village Athens Project | Presbyterian Village Athens Project | Presbyterian Village Athens Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2048 | &nbsp;&nbsp; 6.250% | 2945000 | &nbsp;&nbsp; 2899096 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **54554513** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Idaho 1.0%** | **Idaho 1.0%** | **Idaho 1.0%** | **Idaho 1.0%** |
| Idaho Health Facilities Authority | Idaho Health Facilities Authority | Idaho Health Facilities Authority | Idaho Health Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| St. Luke's Health System Project | St. Luke's Health System Project | St. Luke's Health System Project | St. Luke's Health System Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 03/01/2038 | &nbsp;&nbsp; 4.000% | 3650000 | &nbsp;&nbsp; 3665653 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Taxable - Terraces of Boise Project | Taxable - Terraces of Boise Project | Taxable - Terraces of Boise Project | Taxable - Terraces of Boise Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 10/01/2039 | &nbsp;&nbsp; 4.250% | 9135000 | &nbsp;&nbsp; 8972219 |
| Terraces of Boise Project | Terraces of Boise Project | Terraces of Boise Project | Terraces of Boise Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 10/01/2050 | &nbsp;&nbsp; 4.500% | 2500000 | &nbsp;&nbsp; 2176904 |
| Idaho Housing & Finance Association | Idaho Housing & Finance Association | Idaho Housing & Finance Association | Idaho Housing & Finance Association |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) |
| 01/01/2049 | &nbsp;&nbsp; 4.600% | 2655000 | &nbsp;&nbsp; 2631938 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **17446714** |
| **Illinois 6.5%** | **Illinois 6.5%** | **Illinois 6.5%** | **Illinois 6.5%** |
| Chicago Board of Education | Chicago Board of Education | Chicago Board of Education | Chicago Board of Education |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2046 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 4767176 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2025B | Series 2025B | Series 2025B | Series 2025B |
| 12/01/2044 | &nbsp;&nbsp; 6.000% | 1000000 | &nbsp;&nbsp; 1050243 |
| Chicago O'Hare International Airport<sup>(d)</sup>  | Chicago O'Hare International Airport<sup>(d)</sup>  | Chicago O'Hare International Airport<sup>(d)</sup>  | Chicago O'Hare International Airport<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 01/01/2053 | &nbsp;&nbsp; 5.000% | 7740000 | &nbsp;&nbsp; 7632737 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 01/01/2055 | &nbsp;&nbsp; 5.000% | 6250000 | &nbsp;&nbsp; 6188267 |
| TriPs Obligated Group | TriPs Obligated Group | TriPs Obligated Group | TriPs Obligated Group |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2048 | &nbsp;&nbsp; 5.000% | 2400000 | &nbsp;&nbsp; 2397159 |
| Cook County Community College District No. 508 | Cook County Community College District No. 508 | Cook County Community College District No. 508 | Cook County Community College District No. 508 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Chicago City Colleges | Chicago City Colleges | Chicago City Colleges | Chicago City Colleges |
| Series 2017 (BAM) | Series 2017 (BAM) | Series 2017 (BAM) | Series 2017 (BAM) |
| 12/01/2047 | &nbsp;&nbsp; 5.000% | 9400000 | &nbsp;&nbsp; 9453090 |
| Illinois Housing Development Authority | Illinois Housing Development Authority | Illinois Housing Development Authority | Illinois Housing Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019D (GNMA) | Series 2019D (GNMA) | Series 2019D (GNMA) | Series 2019D (GNMA) |
| 10/01/2039 | &nbsp;&nbsp; 2.950% | 515000 | &nbsp;&nbsp; 457485 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Metropolitan Pier & Exposition Authority | Metropolitan Pier & Exposition Authority | Metropolitan Pier & Exposition Authority | Metropolitan Pier & Exposition Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| McCormick Place Expansion | McCormick Place Expansion | McCormick Place Expansion | McCormick Place Expansion |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/15/2047 | &nbsp;&nbsp; 4.000% | 5400000 | &nbsp;&nbsp; 4745498 |
| Metropolitan Water Reclamation District of Greater Chicago | Metropolitan Water Reclamation District of Greater Chicago | Metropolitan Water Reclamation District of Greater Chicago | Metropolitan Water Reclamation District of Greater Chicago |
| Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds | Limited General Obligation Refunding Bonds |
| Series 2007C | Series 2007C | Series 2007C | Series 2007C |
| 12/01/2033 | &nbsp;&nbsp; 5.250% | 13210000 | &nbsp;&nbsp; 15689971 |
| Regional Transportation Authority | Regional Transportation Authority | Regional Transportation Authority | Regional Transportation Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2002A (NPFGC) | Series 2002A (NPFGC) | Series 2002A (NPFGC) | Series 2002A (NPFGC) |
| 07/01/2031 | &nbsp;&nbsp; 6.000% | 5400000 | &nbsp;&nbsp; 6290018 |
| State of Illinois | State of Illinois | State of Illinois | State of Illinois |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| 1st Series 2001 (NPFGC) | 1st Series 2001 (NPFGC) | 1st Series 2001 (NPFGC) | 1st Series 2001 (NPFGC) |
| 11/01/2026 | &nbsp;&nbsp; 6.000% | 735000 | &nbsp;&nbsp; 749375 |
| Rebuild Illinois Program | Rebuild Illinois Program | Rebuild Illinois Program | Rebuild Illinois Program |
| Series 2019 (BAM) | Series 2019 (BAM) | Series 2019 (BAM) | Series 2019 (BAM) |
| 11/01/2042 | &nbsp;&nbsp; 4.000% | 9925000 | &nbsp;&nbsp; 9638226 |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 11/01/2030 | &nbsp;&nbsp; 5.000% | 5975000 | &nbsp;&nbsp; 6072957 |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 05/01/2039 | &nbsp;&nbsp; 5.500% | 2705000 | &nbsp;&nbsp; 2907755 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 03/01/2047 | &nbsp;&nbsp; 5.500% | 19000000 | &nbsp;&nbsp; 19943371 |
| Series 2023B | Series 2023B | Series 2023B | Series 2023B |
| 05/01/2047 | &nbsp;&nbsp; 5.500% | 1750000 | &nbsp;&nbsp; 1838085 |
| 05/01/2048 | &nbsp;&nbsp; 4.500% | 600000 | &nbsp;&nbsp; 570684 |
| Series 2024C | Series 2024C | Series 2024C | Series 2024C |
| 10/01/2048 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4382544 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2018-A | Series 2018-A | Series 2018-A | Series 2018-A |
| 10/01/2033 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 6312980 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **111087621** |
| **Indiana 0.3%** | **Indiana 0.3%** | **Indiana 0.3%** | **Indiana 0.3%** |
| Indiana Housing & Community Development Authority | Indiana Housing & Community Development Authority | Indiana Housing & Community Development Authority | Indiana Housing & Community Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2020B-1 (GNMA) | Series 2020B-1 (GNMA) | Series 2020B-1 (GNMA) | Series 2020B-1 (GNMA) |
| 07/01/2039 | &nbsp;&nbsp; 2.050% | 110000 | &nbsp;&nbsp; 85780 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Bonds | Sustainable Bonds | Sustainable Bonds | Sustainable Bonds |
| Series 2024A-1 (GNMA) | Series 2024A-1 (GNMA) | Series 2024A-1 (GNMA) | Series 2024A-1 (GNMA) |
| 07/01/2054 | &nbsp;&nbsp; 4.750% | 5000000 | &nbsp;&nbsp; 4978259 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5064039** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Iowa 1.2%** | **Iowa 1.2%** | **Iowa 1.2%** | **Iowa 1.2%** |
| Iowa Finance Authority | Iowa Finance Authority | Iowa Finance Authority | Iowa Finance Authority |
| Prerefunded 12/01/32 Revenue Bonds | Prerefunded 12/01/32 Revenue Bonds | Prerefunded 12/01/32 Revenue Bonds | Prerefunded 12/01/32 Revenue Bonds |
| Iowa Fertilizer Co. Project | Iowa Fertilizer Co. Project | Iowa Fertilizer Co. Project | Iowa Fertilizer Co. Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2050 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5806493 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 05/15/2046 | &nbsp;&nbsp; 4.000% | 6890000 | &nbsp;&nbsp; 5851345 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 05/15/2048 | &nbsp;&nbsp; 5.000% | 9275000 | &nbsp;&nbsp; 8745292 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **20403130** |
| **Kentucky 0.7%** | **Kentucky 0.7%** | **Kentucky 0.7%** | **Kentucky 0.7%** |
| Kentucky Municipal Power Agency | Kentucky Municipal Power Agency | Kentucky Municipal Power Agency | Kentucky Municipal Power Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2015A | Series 2015A | Series 2015A | Series 2015A |
| 09/01/2042 | &nbsp;&nbsp; 5.000% | 2600000 | &nbsp;&nbsp; 2601398 |
| Kentucky Public Energy Authority | Kentucky Public Energy Authority | Kentucky Public Energy Authority | Kentucky Public Energy Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023A-1 (Mandatory Put 02/01/32) | Series 2023A-1 (Mandatory Put 02/01/32) | Series 2023A-1 (Mandatory Put 02/01/32) | Series 2023A-1 (Mandatory Put 02/01/32) |
| 04/01/2054 | &nbsp;&nbsp; 5.250% | 8500000 | &nbsp;&nbsp; 9186385 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11787783** |
| **Louisiana 0.7%** | **Louisiana 0.7%** | **Louisiana 0.7%** | **Louisiana 0.7%** |
| Louisiana Public Facilities Authority | Louisiana Public Facilities Authority | Louisiana Public Facilities Authority | Louisiana Public Facilities Authority |
| Prerefunded 05/15/26 Revenue Bonds | Prerefunded 05/15/26 Revenue Bonds | Prerefunded 05/15/26 Revenue Bonds | Prerefunded 05/15/26 Revenue Bonds |
| Ochsner Clinic Foundation Project | Ochsner Clinic Foundation Project | Ochsner Clinic Foundation Project | Ochsner Clinic Foundation Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 05/15/2035 | &nbsp;&nbsp; 4.000% | 25000 | &nbsp;&nbsp; 25119 |
| 05/15/2041 | &nbsp;&nbsp; 4.000% | 25000 | &nbsp;&nbsp; 25119 |
| 05/15/2047 | &nbsp;&nbsp; 5.000% | 15000 | &nbsp;&nbsp; 15114 |
| Louisiana Public Facilities Authority<sup>(d)</sup>  | Louisiana Public Facilities Authority<sup>(d)</sup>  | Louisiana Public Facilities Authority<sup>(d)</sup>  | Louisiana Public Facilities Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| I-10 Calcasieu River Bridge Project | I-10 Calcasieu River Bridge Project | I-10 Calcasieu River Bridge Project | I-10 Calcasieu River Bridge Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 09/01/2059 | &nbsp;&nbsp; 5.500% | 6000000 | &nbsp;&nbsp; 6079686 |
| I-10 Calcasieu River Bridge Public-Private Partnership Project | I-10 Calcasieu River Bridge Public-Private Partnership Project | I-10 Calcasieu River Bridge Public-Private Partnership Project | I-10 Calcasieu River Bridge Public-Private Partnership Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 09/01/2066 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 5648931 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11793969** |
| **Maryland 0.7%** | **Maryland 0.7%** | **Maryland 0.7%** | **Maryland 0.7%** |
| Maryland Community Development Administration | Maryland Community Development Administration | Maryland Community Development Administration | Maryland Community Development Administration |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2019B | Series 2019B | Series 2019B | Series 2019B |
| 09/01/2034 | &nbsp;&nbsp; 3.000% | 3000000 | &nbsp;&nbsp; 2898311 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019C | Series 2019C | Series 2019C | Series 2019C |
| 09/01/2034 | &nbsp;&nbsp; 2.700% | 4000000 | &nbsp;&nbsp; 3738985 |
| Maryland Economic Development Corp. | Maryland Economic Development Corp. | Maryland Economic Development Corp. | Maryland Economic Development Corp. |
| Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds |
| Port Covington Project | Port Covington Project | Port Covington Project | Port Covington Project |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 09/01/2040 | &nbsp;&nbsp; 4.000% | 875000 | &nbsp;&nbsp; 814087 |
| Maryland Health & Higher Educational Facilities Authority | Maryland Health & Higher Educational Facilities Authority | Maryland Health & Higher Educational Facilities Authority | Maryland Health & Higher Educational Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Mercy Medical Center | Mercy Medical Center | Mercy Medical Center | Mercy Medical Center |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 07/01/2042 | &nbsp;&nbsp; 4.000% | 5250000 | &nbsp;&nbsp; 5082270 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **12533653** |
| **Massachusetts 1.2%** | **Massachusetts 1.2%** | **Massachusetts 1.2%** | **Massachusetts 1.2%** |
| Commonwealth of Massachusetts | Commonwealth of Massachusetts | Commonwealth of Massachusetts | Commonwealth of Massachusetts |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2005 Escrowed to Maturity (NPFGC) | Series 2005 Escrowed to Maturity (NPFGC) | Series 2005 Escrowed to Maturity (NPFGC) | Series 2005 Escrowed to Maturity (NPFGC) |
| 01/01/2030 | &nbsp;&nbsp; 5.500% | 2500000 | &nbsp;&nbsp; 2793918 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024E | Series 2024E | Series 2024E | Series 2024E |
| 08/01/2054 | &nbsp;&nbsp; 5.000% | 2535000 | &nbsp;&nbsp; 2619328 |
| Massachusetts Bay Transportation Authority | Massachusetts Bay Transportation Authority | Massachusetts Bay Transportation Authority | Massachusetts Bay Transportation Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2008B | Series 2008B | Series 2008B | Series 2008B |
| 07/01/2027 | &nbsp;&nbsp; 5.250% | 710000 | &nbsp;&nbsp; 740081 |
| Massachusetts Clean Water Trust (The) | Massachusetts Clean Water Trust (The) | Massachusetts Clean Water Trust (The) | Massachusetts Clean Water Trust (The) |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Pool Program | Pool Program | Pool Program | Pool Program |
| Series 2006 | Series 2006 | Series 2006 | Series 2006 |
| 08/01/2030 | &nbsp;&nbsp; 5.250% | 1000000 | &nbsp;&nbsp; 1133444 |
| Massachusetts Development Finance Agency<sup>(e)</sup>  | Massachusetts Development Finance Agency<sup>(e)</sup>  | Massachusetts Development Finance Agency<sup>(e)</sup>  | Massachusetts Development Finance Agency<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Adventcare Project | Adventcare Project | Adventcare Project | Adventcare Project |
| Series 2007A | Series 2007A | Series 2007A | Series 2007A |
| 10/15/2028 | &nbsp;&nbsp; 0.000% | 3825475 | &nbsp;&nbsp; 38 |
| Massachusetts Development Finance Agency | Massachusetts Development Finance Agency | Massachusetts Development Finance Agency | Massachusetts Development Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Tufts University Student Housing Project | Tufts University Student Housing Project | Tufts University Student Housing Project | Tufts University Student Housing Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/01/2050 | &nbsp;&nbsp; 5.500% | 750000 | &nbsp;&nbsp; 800125 |
| WGBH Educational Foundation | WGBH Educational Foundation | WGBH Educational Foundation | WGBH Educational Foundation |
| Series 2002A (AMBAC) | Series 2002A (AMBAC) | Series 2002A (AMBAC) | Series 2002A (AMBAC) |
| 01/01/2042 | &nbsp;&nbsp; 5.750% | 2000000 | &nbsp;&nbsp; 2371676 |
| Massachusetts Health & Educational Facilities Authority | Massachusetts Health & Educational Facilities Authority | Massachusetts Health & Educational Facilities Authority | Massachusetts Health & Educational Facilities Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Tufts University | Tufts University | Tufts University | Tufts University |
| Series 2009M | Series 2009M | Series 2009M | Series 2009M |
| 02/15/2028 | &nbsp;&nbsp; 5.500% | 1000000 | &nbsp;&nbsp; 1066211 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Massachusetts Housing Finance Agency | Massachusetts Housing Finance Agency | Massachusetts Housing Finance Agency | Massachusetts Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A-1 | Series 2024A-1 | Series 2024A-1 | Series 2024A-1 |
| 12/01/2049 | &nbsp;&nbsp; 4.700% | 800000 | &nbsp;&nbsp; 795604 |
| 12/01/2054 | &nbsp;&nbsp; 4.800% | 1800000 | &nbsp;&nbsp; 1762803 |
| 12/01/2059 | &nbsp;&nbsp; 4.900% | 1600000 | &nbsp;&nbsp; 1569620 |
| Special Obligations | Special Obligations | Special Obligations | Special Obligations |
| Series 2017D | Series 2017D | Series 2017D | Series 2017D |
| 12/01/2047 | &nbsp;&nbsp; 3.850% | 5000000 | &nbsp;&nbsp; 4459503 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **20112351** |
| **Michigan 2.8%** | **Michigan 2.8%** | **Michigan 2.8%** | **Michigan 2.8%** |
| Grand Rapids Economic Development Corp. | Grand Rapids Economic Development Corp. | Grand Rapids Economic Development Corp. | Grand Rapids Economic Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Beacon Hill at Eastgate Project | Beacon Hill at Eastgate Project | Beacon Hill at Eastgate Project | Beacon Hill at Eastgate Project |
| Series 2025T | Series 2025T | Series 2025T | Series 2025T |
| 11/01/2030 | &nbsp;&nbsp; 4.750% | 4375000 | &nbsp;&nbsp; 4386295 |
| Michigan Finance Authority | Michigan Finance Authority | Michigan Finance Authority | Michigan Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Henry Ford Health System | Henry Ford Health System | Henry Ford Health System | Henry Ford Health System |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 11/15/2050 | &nbsp;&nbsp; 4.000% | 4400000 | &nbsp;&nbsp; 3898163 |
| Michigan State Housing Development Authority | Michigan State Housing Development Authority | Michigan State Housing Development Authority | Michigan State Housing Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 10/01/2048 | &nbsp;&nbsp; 4.050% | 5000000 | &nbsp;&nbsp; 4515203 |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 12/01/2044 | &nbsp;&nbsp; 4.500% | 1500000 | &nbsp;&nbsp; 1509274 |
| 12/01/2049 | &nbsp;&nbsp; 4.650% | 1350000 | &nbsp;&nbsp; 1351940 |
| 12/01/2053 | &nbsp;&nbsp; 4.700% | 1900000 | &nbsp;&nbsp; 1876057 |
| Social Bonds | Social Bonds | Social Bonds | Social Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 12/01/2048 | &nbsp;&nbsp; 4.900% | 6000000 | &nbsp;&nbsp; 6013215 |
| Michigan Strategic Fund<sup>(d)</sup>  | Michigan Strategic Fund<sup>(d)</sup>  | Michigan Strategic Fund<sup>(d)</sup>  | Michigan Strategic Fund<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| I-75 Improvement Project | I-75 Improvement Project | I-75 Improvement Project | I-75 Improvement Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 06/30/2048 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 2918798 |
| State of Michigan | State of Michigan | State of Michigan | State of Michigan |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 11/15/2049 | &nbsp;&nbsp; 5.250% | 10000000 | &nbsp;&nbsp; 10622686 |
| State of Michigan Trunk Line | State of Michigan Trunk Line | State of Michigan Trunk Line | State of Michigan Trunk Line |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 11/15/2049 | &nbsp;&nbsp; 5.500% | 10000000 | &nbsp;&nbsp; 10786597 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **47878228** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Minnesota 0.6%** | **Minnesota 0.6%** | **Minnesota 0.6%** | **Minnesota 0.6%** |
| City of Minneapolis | City of Minneapolis | City of Minneapolis | City of Minneapolis |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fairview Health Services | Fairview Health Services | Fairview Health Services | Fairview Health Services |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 11/15/2048 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4223231 |
| City of Wayzata | City of Wayzata | City of Wayzata | City of Wayzata |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Folkstone Senior Living Co. | Folkstone Senior Living Co. | Folkstone Senior Living Co. | Folkstone Senior Living Co. |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 08/01/2049 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 985569 |
| St. Cloud Housing & Redevelopment Authority<sup>(f)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(f)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(f)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(f)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sanctuary St. Cloud Project | Sanctuary St. Cloud Project | Sanctuary St. Cloud Project | Sanctuary St. Cloud Project |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 08/01/2036 | &nbsp;&nbsp; 4.000% | 7095000 | &nbsp;&nbsp; 5578732 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10787532** |
| **Missouri 1.0%** | **Missouri 1.0%** | **Missouri 1.0%** | **Missouri 1.0%** |
| Health & Educational Facilities Authority | Health & Educational Facilities Authority | Health & Educational Facilities Authority | Health & Educational Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Mosaic Health System | Mosaic Health System | Mosaic Health System | Mosaic Health System |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 02/15/2049 | &nbsp;&nbsp; 4.000% | 3200000 | &nbsp;&nbsp; 2797651 |
| Kirkwood Industrial Development Authority | Kirkwood Industrial Development Authority | Kirkwood Industrial Development Authority | Kirkwood Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Aberdeen Heights Project | Aberdeen Heights Project | Aberdeen Heights Project | Aberdeen Heights Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 05/15/2037 | &nbsp;&nbsp; 5.250% | 2205000 | &nbsp;&nbsp; 2216308 |
| 05/15/2042 | &nbsp;&nbsp; 5.250% | 2290000 | &nbsp;&nbsp; 2264028 |
| Missouri Housing Development Commission | Missouri Housing Development Commission | Missouri Housing Development Commission | Missouri Housing Development Commission |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| First Place Homeownership Loan | First Place Homeownership Loan | First Place Homeownership Loan | First Place Homeownership Loan |
| Series 2024 (GNMA) | Series 2024 (GNMA) | Series 2024 (GNMA) | Series 2024 (GNMA) |
| 11/01/2049 | &nbsp;&nbsp; 4.600% | 940000 | &nbsp;&nbsp; 935182 |
| First Place Homeownership Loan Program | First Place Homeownership Loan Program | First Place Homeownership Loan Program | First Place Homeownership Loan Program |
| Series 2020A (GNMA) | Series 2020A (GNMA) | Series 2020A (GNMA) | Series 2020A (GNMA) |
| 11/01/2040 | &nbsp;&nbsp; 2.550% | 1280000 | &nbsp;&nbsp; 1051021 |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 11/01/2055 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1003446 |
| Missouri Joint Municipal Electric Utility Commission | Missouri Joint Municipal Electric Utility Commission | Missouri Joint Municipal Electric Utility Commission | Missouri Joint Municipal Electric Utility Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 12/01/2041 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4999814 |
| St. Louis County Industrial Development Authority | St. Louis County Industrial Development Authority | St. Louis County Industrial Development Authority | St. Louis County Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Friendship Village Sunset Hills | Friendship Village Sunset Hills | Friendship Village Sunset Hills | Friendship Village Sunset Hills |
| Series 2013A | Series 2013A | Series 2013A | Series 2013A |
| 09/01/2033 | &nbsp;&nbsp; 5.500% | 2310000 | &nbsp;&nbsp; 2311330 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **17578780** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Nebraska 2.0%** | **Nebraska 2.0%** | **Nebraska 2.0%** | **Nebraska 2.0%** |
| Central Plains Energy Project | Central Plains Energy Project | Central Plains Energy Project | Central Plains Energy Project |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Gas Project No. 5 Series | Gas Project No. 5 Series | Gas Project No. 5 Series | Gas Project No. 5 Series |
| Series 2022-1 (Mandatory Put 10/01/29) | Series 2022-1 (Mandatory Put 10/01/29) | Series 2022-1 (Mandatory Put 10/01/29) | Series 2022-1 (Mandatory Put 10/01/29) |
| 05/01/2053 | &nbsp;&nbsp; 5.000% | 5400000 | &nbsp;&nbsp; 5678829 |
| Central Plains Energy Project<sup>(b)</sup>  | Central Plains Energy Project<sup>(b)</sup>  | Central Plains Energy Project<sup>(b)</sup>  | Central Plains Energy Project<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Subordinated Series 2025A-1 (Mandatory Put 08/01/31) | Subordinated Series 2025A-1 (Mandatory Put 08/01/31) | Subordinated Series 2025A-1 (Mandatory Put 08/01/31) | Subordinated Series 2025A-1 (Mandatory Put 08/01/31) |
| 08/01/2055 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 6445336 |
| Douglas County Hospital Authority No. 3 | Douglas County Hospital Authority No. 3 | Douglas County Hospital Authority No. 3 | Douglas County Hospital Authority No. 3 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Health Facilities | Health Facilities | Health Facilities | Health Facilities |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 11/01/2045 | &nbsp;&nbsp; 5.000% | 4080000 | &nbsp;&nbsp; 4081233 |
| Nebraska Educational Health Cultural & Social Services Finance Authority | Nebraska Educational Health Cultural & Social Services Finance Authority | Nebraska Educational Health Cultural & Social Services Finance Authority | Nebraska Educational Health Cultural & Social Services Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Immanuel Obligated Group | Immanuel Obligated Group | Immanuel Obligated Group | Immanuel Obligated Group |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 01/01/2049 | &nbsp;&nbsp; 4.000% | 20595000 | &nbsp;&nbsp; 18196937 |
| Nebraska Investment Finance Authority | Nebraska Investment Finance Authority | Nebraska Investment Finance Authority | Nebraska Investment Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019D | Series 2019D | Series 2019D | Series 2019D |
| 09/01/2042 | &nbsp;&nbsp; 3.050% | 260000 | &nbsp;&nbsp; 226681 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **34629016** |
| **Nevada 0.4%** | **Nevada 0.4%** | **Nevada 0.4%** | **Nevada 0.4%** |
| State of Nevada Department of Business & Industry<sup>(c)</sup>  | State of Nevada Department of Business & Industry<sup>(c)</sup>  | State of Nevada Department of Business & Industry<sup>(c)</sup>  | State of Nevada Department of Business & Industry<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Somerset Academy | Somerset Academy | Somerset Academy | Somerset Academy |
| Series 2015A | Series 2015A | Series 2015A | Series 2015A |
| 12/15/2035 | &nbsp;&nbsp; 5.000% | 1025000 | &nbsp;&nbsp; 1025267 |
| 12/15/2045 | &nbsp;&nbsp; 5.125% | 1260000 | &nbsp;&nbsp; 1215720 |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 12/15/2038 | &nbsp;&nbsp; 5.000% | 835000 | &nbsp;&nbsp; 835094 |
| 12/15/2048 | &nbsp;&nbsp; 5.000% | 3500000 | &nbsp;&nbsp; 3255377 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6331458** |
| **New Hampshire 0.4%** | **New Hampshire 0.4%** | **New Hampshire 0.4%** | **New Hampshire 0.4%** |
| New Hampshire Business Finance Authority<sup>(b),(d)</sup>  | New Hampshire Business Finance Authority<sup>(b),(d)</sup>  | New Hampshire Business Finance Authority<sup>(b),(d)</sup>  | New Hampshire Business Finance Authority<sup>(b),(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Waste Management, Inc. Project | Waste Management, Inc. Project | Waste Management, Inc. Project | Waste Management, Inc. Project |
| Series 2019A-3 (Mandatory Put 07/01/26) | Series 2019A-3 (Mandatory Put 07/01/26) | Series 2019A-3 (Mandatory Put 07/01/26) | Series 2019A-3 (Mandatory Put 07/01/26) |
| 07/01/2033 | &nbsp;&nbsp; 4.000% | 2955000 | &nbsp;&nbsp; 2958225 |
| New Hampshire Business Finance Authority<sup>(c)</sup>  | New Hampshire Business Finance Authority<sup>(c)</sup>  | New Hampshire Business Finance Authority<sup>(c)</sup>  | New Hampshire Business Finance Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Grand Pines Project | Grand Pines Project | Grand Pines Project | Grand Pines Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/01/2039 | &nbsp;&nbsp; 5.625% | 1500000 | &nbsp;&nbsp; 1502557 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| New Hampshire Business Finance Authority | New Hampshire Business Finance Authority | New Hampshire Business Finance Authority | New Hampshire Business Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Municipal Certificates | Municipal Certificates | Municipal Certificates | Municipal Certificates |
| Series 2020A-1 | Series 2020A-1 | Series 2020A-1 | Series 2020A-1 |
| 01/20/2034 | &nbsp;&nbsp; 4.125% | 316530 | &nbsp;&nbsp; 324851 |
| New Hampshire Business Finance Authority<sup>(c),(g)</sup>  | New Hampshire Business Finance Authority<sup>(c),(g)</sup>  | New Hampshire Business Finance Authority<sup>(c),(g)</sup>  | New Hampshire Business Finance Authority<sup>(c),(g)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| The Wildflower Project | The Wildflower Project | The Wildflower Project | The Wildflower Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/15/2033 | &nbsp;&nbsp; 0.000% | 3000000 | &nbsp;&nbsp; 1812167 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6597800** |
| **New Jersey 5.1%** | **New Jersey 5.1%** | **New Jersey 5.1%** | **New Jersey 5.1%** |
| City of Newark Mass Transit Access Tax | City of Newark Mass Transit Access Tax | City of Newark Mass Transit Access Tax | City of Newark Mass Transit Access Tax |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Mulberry Pedestrian Bridge Redevelopment Project | Mulberry Pedestrian Bridge Redevelopment Project | Mulberry Pedestrian Bridge Redevelopment Project | Mulberry Pedestrian Bridge Redevelopment Project |
| Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) |
| 11/15/2062 | &nbsp;&nbsp; 6.000% | 2000000 | &nbsp;&nbsp; 2204488 |
| Middlesex County Improvement Authority<sup>(e)</sup>  | Middlesex County Improvement Authority<sup>(e)</sup>  | Middlesex County Improvement Authority<sup>(e)</sup>  | Middlesex County Improvement Authority<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Heldrich Center Hotel | Heldrich Center Hotel | Heldrich Center Hotel | Heldrich Center Hotel |
| Series 2005C | Series 2005C | Series 2005C | Series 2005C |
| 01/01/2037 | &nbsp;&nbsp; 0.000% | 1500000 | &nbsp;&nbsp; 15 |
| New Jersey Economic Development Authority | New Jersey Economic Development Authority | New Jersey Economic Development Authority | New Jersey Economic Development Authority |
| Prerefunded 06/15/27 Revenue Bonds | Prerefunded 06/15/27 Revenue Bonds | Prerefunded 06/15/27 Revenue Bonds | Prerefunded 06/15/27 Revenue Bonds |
| Series 2017DDD | Series 2017DDD | Series 2017DDD | Series 2017DDD |
| 06/15/2042 | &nbsp;&nbsp; 5.000% | 1250000 | &nbsp;&nbsp; 1297834 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| School Facilities Construction | School Facilities Construction | School Facilities Construction | School Facilities Construction |
| Series 2005N-1 (NPFGC) | Series 2005N-1 (NPFGC) | Series 2005N-1 (NPFGC) | Series 2005N-1 (NPFGC) |
| 09/01/2027 | &nbsp;&nbsp; 5.500% | 5000000 | &nbsp;&nbsp; 5253390 |
| Subordinated Series 2017A | Subordinated Series 2017A | Subordinated Series 2017A | Subordinated Series 2017A |
| 07/01/2034 | &nbsp;&nbsp; 4.000% | 1750000 | &nbsp;&nbsp; 1759317 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Portal North Bridge Project | Portal North Bridge Project | Portal North Bridge Project | Portal North Bridge Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2052 | &nbsp;&nbsp; 5.000% | 16250000 | &nbsp;&nbsp; 16718700 |
| New Jersey Economic Development Authority<sup>(c),(d)</sup>  | New Jersey Economic Development Authority<sup>(c),(d)</sup>  | New Jersey Economic Development Authority<sup>(c),(d)</sup>  | New Jersey Economic Development Authority<sup>(c),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Repauno Port & Rail Terminal Project | Repauno Port & Rail Terminal Project | Repauno Port & Rail Terminal Project | Repauno Port & Rail Terminal Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 01/01/2035 | &nbsp;&nbsp; 6.375% | 1500000 | &nbsp;&nbsp; 1564014 |
| 01/01/2045 | &nbsp;&nbsp; 6.625% | 1500000 | &nbsp;&nbsp; 1556732 |
| New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  | New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  | New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  | New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2025-1B | Series 2025-1B | Series 2025-1B | Series 2025-1B |
| 12/01/2035 | &nbsp;&nbsp; 5.000% | 7500000 | &nbsp;&nbsp; 8164265 |
| New Jersey Housing & Mortgage Finance Agency | New Jersey Housing & Mortgage Finance Agency | New Jersey Housing & Mortgage Finance Agency | New Jersey Housing & Mortgage Finance Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2020E (HUD) | Series 2020E (HUD) | Series 2020E (HUD) | Series 2020E (HUD) |
| 10/01/2040 | &nbsp;&nbsp; 2.250% | 4245000 | &nbsp;&nbsp; 3360893 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025M | Series 2025M | Series 2025M | Series 2025M |
| 04/01/2056 | &nbsp;&nbsp; 6.500% | 2250000 | &nbsp;&nbsp; 2545602 |
| New Jersey Transportation Trust Fund Authority | New Jersey Transportation Trust Fund Authority | New Jersey Transportation Trust Fund Authority | New Jersey Transportation Trust Fund Authority |
| Prerefunded 12/15/32 Revenue Bonds | Prerefunded 12/15/32 Revenue Bonds | Prerefunded 12/15/32 Revenue Bonds | Prerefunded 12/15/32 Revenue Bonds |
| Transportation Program | Transportation Program | Transportation Program | Transportation Program |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/15/2048 | &nbsp;&nbsp; 5.000% | 3750000 | &nbsp;&nbsp; 4373544 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Transportation System | Transportation System | Transportation System | Transportation System |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 12/15/2034 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 6376702 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Transportation Program | Transportation Program | Transportation Program | Transportation Program |
| Series 2025AA | Series 2025AA | Series 2025AA | Series 2025AA |
| 06/15/2050 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2587042 |
| 06/15/2050 | &nbsp;&nbsp; 5.250% | 2750000 | &nbsp;&nbsp; 2922564 |
| Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds |
| Transportation Program | Transportation Program | Transportation Program | Transportation Program |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/15/2046 | &nbsp;&nbsp; 5.000% | 2270000 | &nbsp;&nbsp; 2316978 |
| New Jersey Turnpike Authority | New Jersey Turnpike Authority | New Jersey Turnpike Authority | New Jersey Turnpike Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2005A (AGM) | Series 2005A (AGM) | Series 2005A (AGM) | Series 2005A (AGM) |
| 01/01/2030 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 2219150 |
| Series 2024C | Series 2024C | Series 2024C | Series 2024C |
| 01/01/2045 | &nbsp;&nbsp; 5.000% | 3250000 | &nbsp;&nbsp; 3480999 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2022B | Series 2022B | Series 2022B | Series 2022B |
| 01/01/2048 | &nbsp;&nbsp; 4.500% | 3000000 | &nbsp;&nbsp; 3022983 |
| 01/01/2052 | &nbsp;&nbsp; 5.250% | 6250000 | &nbsp;&nbsp; 6560953 |
| Series 2024B | Series 2024B | Series 2024B | Series 2024B |
| 01/01/2054 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5271347 |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 01/01/2045 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2705620 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **86263132** |
| **New Mexico 0.3%** | **New Mexico 0.3%** | **New Mexico 0.3%** | **New Mexico 0.3%** |
| New Mexico Mortgage Finance Authority | New Mexico Mortgage Finance Authority | New Mexico Mortgage Finance Authority | New Mexico Mortgage Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Single Family Mortgage Program | Single Family Mortgage Program | Single Family Mortgage Program | Single Family Mortgage Program |
| Series 2019C Class I (GNMA) | Series 2019C Class I (GNMA) | Series 2019C Class I (GNMA) | Series 2019C Class I (GNMA) |
| 07/01/2034 | &nbsp;&nbsp; 3.050% | 1530000 | &nbsp;&nbsp; 1492265 |
| 07/01/2039 | &nbsp;&nbsp; 3.350% | 1285000 | &nbsp;&nbsp; 1220002 |
| 07/01/2044 | &nbsp;&nbsp; 3.600% | 2675000 | &nbsp;&nbsp; 2425908 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5138175** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **New York 9.9%** | **New York 9.9%** | **New York 9.9%** | **New York 9.9%** |
| Build Resource Corp.<sup>(d)</sup>  | Build Resource Corp.<sup>(d)</sup>  | Build Resource Corp.<sup>(d)</sup>  | Build Resource Corp.<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Airport Facilities | Airport Facilities | Airport Facilities | Airport Facilities |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2050 | &nbsp;&nbsp; 5.500% | 1750000 | &nbsp;&nbsp; 1816614 |
| 07/01/2055 | &nbsp;&nbsp; 5.500% | 1250000 | &nbsp;&nbsp; 1287411 |
| City of New York | City of New York | City of New York | City of New York |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022A-1 | Series 2022A-1 | Series 2022A-1 | Series 2022A-1 |
| 09/01/2046 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2317846 |
| Series 2024C | Series 2024C | Series 2024C | Series 2024C |
| 03/01/2053 | &nbsp;&nbsp; 5.250% | 5250000 | &nbsp;&nbsp; 5469325 |
| Subordinated Series 2022B-1 | Subordinated Series 2022B-1 | Subordinated Series 2022B-1 | Subordinated Series 2022B-1 |
| 10/01/2047 | &nbsp;&nbsp; 5.250% | 2500000 | &nbsp;&nbsp; 2608727 |
| Subordinated Series 2023E-1 | Subordinated Series 2023E-1 | Subordinated Series 2023E-1 | Subordinated Series 2023E-1 |
| 04/01/2050 | &nbsp;&nbsp; 4.000% | 5100000 | &nbsp;&nbsp; 4623437 |
| Housing Development Corp. | Housing Development Corp. | Housing Development Corp. | Housing Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood |
| Series 2017G | Series 2017G | Series 2017G | Series 2017G |
| 11/01/2042 | &nbsp;&nbsp; 3.600% | 4000000 | &nbsp;&nbsp; 3788505 |
| Metropolitan Transportation Authority | Metropolitan Transportation Authority | Metropolitan Transportation Authority | Metropolitan Transportation Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Green Bonds | Green Bonds | Green Bonds | Green Bonds |
| Series 2020C-1 | Series 2020C-1 | Series 2020C-1 | Series 2020C-1 |
| 11/15/2050 | &nbsp;&nbsp; 5.000% | 4915000 | &nbsp;&nbsp; 4975604 |
| New York City Housing Development Corp. | New York City Housing Development Corp. | New York City Housing Development Corp. | New York City Housing Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 11/01/2044 | &nbsp;&nbsp; 3.150% | 6440000 | &nbsp;&nbsp; 5410525 |
| New York City Municipal Water Finance Authority | New York City Municipal Water Finance Authority | New York City Municipal Water Finance Authority | New York City Municipal Water Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fiscal 2025 | Fiscal 2025 | Fiscal 2025 | Fiscal 2025 |
| Series 2024AA | Series 2024AA | Series 2024AA | Series 2024AA |
| 06/15/2051 | &nbsp;&nbsp; 5.000% | 9270000 | &nbsp;&nbsp; 9576338 |
| Second General Resolution | Second General Resolution | Second General Resolution | Second General Resolution |
| Series 2025BB | Series 2025BB | Series 2025BB | Series 2025BB |
| 06/15/2055 | &nbsp;&nbsp; 5.250% | 2250000 | &nbsp;&nbsp; 2369955 |
| Subordinated Series 2021 | Subordinated Series 2021 | Subordinated Series 2021 | Subordinated Series 2021 |
| 06/15/2051 | &nbsp;&nbsp; 4.000% | 11560000 | &nbsp;&nbsp; 10500097 |
| New York City Transitional Finance Authority | New York City Transitional Finance Authority | New York City Transitional Finance Authority | New York City Transitional Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fiscal 2025 | Fiscal 2025 | Fiscal 2025 | Fiscal 2025 |
| Subordinated Series 2024D | Subordinated Series 2024D | Subordinated Series 2024D | Subordinated Series 2024D |
| 05/01/2052 | &nbsp;&nbsp; 5.500% | 500000 | &nbsp;&nbsp; 532944 |
| Future Tax Secured | Future Tax Secured | Future Tax Secured | Future Tax Secured |
| Subordinated Series 2020 | Subordinated Series 2020 | Subordinated Series 2020 | Subordinated Series 2020 |
| 05/01/2040 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 5041197 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Subordinated Series 2022A-1 | Subordinated Series 2022A-1 | Subordinated Series 2022A-1 | Subordinated Series 2022A-1 |
| 08/01/2048 | &nbsp;&nbsp; 4.000% | 2400000 | &nbsp;&nbsp; 2216961 |
| Subordinated Series 2024C-S | Subordinated Series 2024C-S | Subordinated Series 2024C-S | Subordinated Series 2024C-S |
| 05/01/2051 | &nbsp;&nbsp; 4.000% | 2400000 | &nbsp;&nbsp; 2166683 |
| Subordinated Series 2025H | Subordinated Series 2025H | Subordinated Series 2025H | Subordinated Series 2025H |
| 11/01/2050 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1543838 |
| 11/01/2052 | &nbsp;&nbsp; 4.500% | 3500000 | &nbsp;&nbsp; 3424383 |
| New York City Water & Sewer System | New York City Water & Sewer System | New York City Water & Sewer System | New York City Water & Sewer System |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| 2nd General Resolution | 2nd General Resolution | 2nd General Resolution | 2nd General Resolution |
| Subordinated Series 2020 | Subordinated Series 2020 | Subordinated Series 2020 | Subordinated Series 2020 |
| 06/15/2050 | &nbsp;&nbsp; 4.000% | 4655000 | &nbsp;&nbsp; 4256128 |
| New York Counties Tobacco Trust VI | New York Counties Tobacco Trust VI | New York Counties Tobacco Trust VI | New York Counties Tobacco Trust VI |
| Tobacco Settlement Pass-Through Bonds | Tobacco Settlement Pass-Through Bonds | Tobacco Settlement Pass-Through Bonds | Tobacco Settlement Pass-Through Bonds |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 06/01/2045 | &nbsp;&nbsp; 5.000% | 1860000 | &nbsp;&nbsp; 1621216 |
| New York State Dormitory Authority | New York State Dormitory Authority | New York State Dormitory Authority | New York State Dormitory Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 07/01/2054 | &nbsp;&nbsp; 5.500% | 3000000 | &nbsp;&nbsp; 3249960 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Independent School District-Educational Housing Services | Independent School District-Educational Housing Services | Independent School District-Educational Housing Services | Independent School District-Educational Housing Services |
| Series 2005 (AMBAC) | Series 2005 (AMBAC) | Series 2005 (AMBAC) | Series 2005 (AMBAC) |
| 07/01/2030 | &nbsp;&nbsp; 5.250% | 3000000 | &nbsp;&nbsp; 3145226 |
| NYU Langone Hospitals Obligated Group | NYU Langone Hospitals Obligated Group | NYU Langone Hospitals Obligated Group | NYU Langone Hospitals Obligated Group |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2050 | &nbsp;&nbsp; 4.000% | 4000000 | &nbsp;&nbsp; 3555121 |
| New York State Thruway Authority | New York State Thruway Authority | New York State Thruway Authority | New York State Thruway Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Personal Income Tax - Bidding Group | Personal Income Tax - Bidding Group | Personal Income Tax - Bidding Group | Personal Income Tax - Bidding Group |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 03/15/2050 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4620235 |
| New York Transportation Development Corp.<sup>(d)</sup>  | New York Transportation Development Corp.<sup>(d)</sup>  | New York Transportation Development Corp.<sup>(d)</sup>  | New York Transportation Development Corp.<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| JFK Airport Terminal 6 Redevelopment Project | JFK Airport Terminal 6 Redevelopment Project | JFK Airport Terminal 6 Redevelopment Project | JFK Airport Terminal 6 Redevelopment Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/31/2054 | &nbsp;&nbsp; 5.500% | 6250000 | &nbsp;&nbsp; 6344185 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Delta Air Lines, Inc. LaGuardia | Delta Air Lines, Inc. LaGuardia | Delta Air Lines, Inc. LaGuardia | Delta Air Lines, Inc. LaGuardia |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 10/01/2035 | &nbsp;&nbsp; 5.000% | 8000000 | &nbsp;&nbsp; 8493796 |
| John F. Kennedy International Airport New Terminal One Project | John F. Kennedy International Airport New Terminal One Project | John F. Kennedy International Airport New Terminal One Project | John F. Kennedy International Airport New Terminal One Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 06/30/2060 | &nbsp;&nbsp; 5.375% | 5350000 | &nbsp;&nbsp; 5316025 |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/30/2060 | &nbsp;&nbsp; 5.500% | 12475000 | &nbsp;&nbsp; 12629018 |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/30/2050 | &nbsp;&nbsp; 6.000% | 1500000 | &nbsp;&nbsp; 1598952 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| LaGuardia Airport Terminal C&D | LaGuardia Airport Terminal C&D | LaGuardia Airport Terminal C&D | LaGuardia Airport Terminal C&D |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 04/01/2040 | &nbsp;&nbsp; 5.625% | 3750000 | &nbsp;&nbsp; 3981278 |
| New York State Thruway Service Areas Project | New York State Thruway Service Areas Project | New York State Thruway Service Areas Project | New York State Thruway Service Areas Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 10/31/2041 | &nbsp;&nbsp; 4.000% | 1430000 | &nbsp;&nbsp; 1379274 |
| Terminal 4 John F. Kennedy International Airport Project | Terminal 4 John F. Kennedy International Airport Project | Terminal 4 John F. Kennedy International Airport Project | Terminal 4 John F. Kennedy International Airport Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2042 | &nbsp;&nbsp; 4.000% | 4355000 | &nbsp;&nbsp; 4119226 |
| Port Authority of New York & New Jersey<sup>(d)</sup>  | Port Authority of New York & New Jersey<sup>(d)</sup>  | Port Authority of New York & New Jersey<sup>(d)</sup>  | Port Authority of New York & New Jersey<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023-238 | Series 2023-238 | Series 2023-238 | Series 2023-238 |
| 07/15/2039 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3265174 |
| Port Authority of New York & New Jersey | Port Authority of New York & New Jersey | Port Authority of New York & New Jersey | Port Authority of New York & New Jersey |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2025-248 | Series 2025-248 | Series 2025-248 | Series 2025-248 |
| 01/15/2055 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1042164 |
| State of New York Mortgage Agency | State of New York Mortgage Agency | State of New York Mortgage Agency | State of New York Mortgage Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2018-211 | Series 2018-211 | Series 2018-211 | Series 2018-211 |
| 10/01/2043 | &nbsp;&nbsp; 3.750% | 11620000 | &nbsp;&nbsp; 10881212 |
| Triborough Bridge & Tunnel Authority | Triborough Bridge & Tunnel Authority | Triborough Bridge & Tunnel Authority | Triborough Bridge & Tunnel Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| MTA Bridges and Tunnels | MTA Bridges and Tunnels | MTA Bridges and Tunnels | MTA Bridges and Tunnels |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 05/15/2051 | &nbsp;&nbsp; 4.000% | 9000000 | &nbsp;&nbsp; 8191662 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Senior Lien Green Bonds | Senior Lien Green Bonds | Senior Lien Green Bonds | Senior Lien Green Bonds |
| Series 2022D-2 | Series 2022D-2 | Series 2022D-2 | Series 2022D-2 |
| 05/15/2052 | &nbsp;&nbsp; 5.500% | 3000000 | &nbsp;&nbsp; 3177720 |
| Ulster County Capital Resource Corp.<sup>(c)</sup>  | Ulster County Capital Resource Corp.<sup>(c)</sup>  | Ulster County Capital Resource Corp.<sup>(c)</sup>  | Ulster County Capital Resource Corp.<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Woodland Pond at New Paltz | Woodland Pond at New Paltz | Woodland Pond at New Paltz | Woodland Pond at New Paltz |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 09/15/2042 | &nbsp;&nbsp; 5.250% | 2480000 | &nbsp;&nbsp; 2480765 |
| 09/15/2047 | &nbsp;&nbsp; 5.250% | 3025000 | &nbsp;&nbsp; 2835977 |
| 09/15/2053 | &nbsp;&nbsp; 5.250% | 2990000 | &nbsp;&nbsp; 2733487 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **168588191** |
| **North Carolina 1.4%** | **North Carolina 1.4%** | **North Carolina 1.4%** | **North Carolina 1.4%** |
| North Carolina Department of Transportation<sup>(d)</sup>  | North Carolina Department of Transportation<sup>(d)</sup>  | North Carolina Department of Transportation<sup>(d)</sup>  | North Carolina Department of Transportation<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| I-77 Hot Lanes Project | I-77 Hot Lanes Project | I-77 Hot Lanes Project | I-77 Hot Lanes Project |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 06/30/2054 | &nbsp;&nbsp; 5.000% | 10000000 | &nbsp;&nbsp; 9712931 |
| North Carolina Housing Finance Agency | North Carolina Housing Finance Agency | North Carolina Housing Finance Agency | North Carolina Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024-54A (GNMA) | Series 2024-54A (GNMA) | Series 2024-54A (GNMA) | Series 2024-54A (GNMA) |
| 01/01/2055 | &nbsp;&nbsp; 4.800% | 3425000 | &nbsp;&nbsp; 3396843 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| North Carolina Medical Care Commission | North Carolina Medical Care Commission | North Carolina Medical Care Commission | North Carolina Medical Care Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Sharon Towers | Sharon Towers | Sharon Towers | Sharon Towers |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 07/01/2039 | &nbsp;&nbsp; 5.000% | 1650000 | &nbsp;&nbsp; 1680098 |
| 07/01/2044 | &nbsp;&nbsp; 5.000% | 1160000 | &nbsp;&nbsp; 1149097 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Deerfield Episcopal Retirement Community Project | Deerfield Episcopal Retirement Community Project | Deerfield Episcopal Retirement Community Project | Deerfield Episcopal Retirement Community Project |
| Series 2026 | Series 2026 | Series 2026 | Series 2026 |
| 11/01/2031 | &nbsp;&nbsp; 4.000% | 1455000 | &nbsp;&nbsp; 1459936 |
| Lutheran Services for the Aging | Lutheran Services for the Aging | Lutheran Services for the Aging | Lutheran Services for the Aging |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 03/01/2051 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 837561 |
| North Carolina Turnpike Authority<sup>(g)</sup>  | North Carolina Turnpike Authority<sup>(g)</sup>  | North Carolina Turnpike Authority<sup>(g)</sup>  | North Carolina Turnpike Authority<sup>(g)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017C | Series 2017C | Series 2017C | Series 2017C |
| 07/01/2030 | &nbsp;&nbsp; 0.000% | 445000 | &nbsp;&nbsp; 367229 |
| 07/01/2034 | &nbsp;&nbsp; 0.000% | 1135000 | &nbsp;&nbsp; 764141 |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 01/01/2047 | &nbsp;&nbsp; 0.000% | 7375000 | &nbsp;&nbsp; 2671091 |
| Triangle Expressway System | Triangle Expressway System | Triangle Expressway System | Triangle Expressway System |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 01/01/2046 | &nbsp;&nbsp; 0.000% | 3690000 | &nbsp;&nbsp; 1416062 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **23454989** |
| **North Dakota 0.7%** | **North Dakota 0.7%** | **North Dakota 0.7%** | **North Dakota 0.7%** |
| North Dakota Housing Finance Agency | North Dakota Housing Finance Agency | North Dakota Housing Finance Agency | North Dakota Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Home Mortgage Program | Home Mortgage Program | Home Mortgage Program | Home Mortgage Program |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 07/01/2043 | &nbsp;&nbsp; 3.050% | 1350000 | &nbsp;&nbsp; 1150049 |
| Housing Finance Program | Housing Finance Program | Housing Finance Program | Housing Finance Program |
| Series 2017 (FHA) | Series 2017 (FHA) | Series 2017 (FHA) | Series 2017 (FHA) |
| 07/01/2037 | &nbsp;&nbsp; 3.450% | 700000 | &nbsp;&nbsp; 692176 |
| Housing Finance Program-Home Mortgage Finance | Housing Finance Program-Home Mortgage Finance | Housing Finance Program-Home Mortgage Finance | Housing Finance Program-Home Mortgage Finance |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2042 | &nbsp;&nbsp; 3.950% | 1845000 | &nbsp;&nbsp; 1849562 |
| Series 2024C | Series 2024C | Series 2024C | Series 2024C |
| 07/01/2049 | &nbsp;&nbsp; 4.750% | 5750000 | &nbsp;&nbsp; 5773872 |
| 07/01/2051 | &nbsp;&nbsp; 4.800% | 2510000 | &nbsp;&nbsp; 2494254 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11959913** |
| **Ohio 3.1%** | **Ohio 3.1%** | **Ohio 3.1%** | **Ohio 3.1%** |
| Buckeye Tobacco Settlement Financing Authority | Buckeye Tobacco Settlement Financing Authority | Buckeye Tobacco Settlement Financing Authority | Buckeye Tobacco Settlement Financing Authority |
| Refunding Senior Revenue Bonds | Refunding Senior Revenue Bonds | Refunding Senior Revenue Bonds | Refunding Senior Revenue Bonds |
| Series 2020B-2 | Series 2020B-2 | Series 2020B-2 | Series 2020B-2 |
| 06/01/2055 | &nbsp;&nbsp; 5.000% | 14290000 | &nbsp;&nbsp; 11752466 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Columbus Regional Airport Authority<sup>(d)</sup>  | Columbus Regional Airport Authority<sup>(d)</sup>  | Columbus Regional Airport Authority<sup>(d)</sup>  | Columbus Regional Airport Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| John Glenn Columbus International Airport | John Glenn Columbus International Airport | John Glenn Columbus International Airport | John Glenn Columbus International Airport |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 01/01/2050 | &nbsp;&nbsp; 5.500% | 15000000 | &nbsp;&nbsp; 15799880 |
| County of Marion | County of Marion | County of Marion | County of Marion |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| United Church Homes, Inc. | United Church Homes, Inc. | United Church Homes, Inc. | United Church Homes, Inc. |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 12/01/2039 | &nbsp;&nbsp; 5.000% | 325000 | &nbsp;&nbsp; 279258 |
| 12/01/2049 | &nbsp;&nbsp; 5.125% | 1895000 | &nbsp;&nbsp; 1442161 |
| Ohio Housing Finance Agency | Ohio Housing Finance Agency | Ohio Housing Finance Agency | Ohio Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) |
| 09/01/2049 | &nbsp;&nbsp; 4.550% | 4795000 | &nbsp;&nbsp; 4739747 |
| 09/01/2054 | &nbsp;&nbsp; 4.650% | 4805000 | &nbsp;&nbsp; 4723054 |
| Ohio Turnpike & Infrastructure Commission | Ohio Turnpike & Infrastructure Commission | Ohio Turnpike & Infrastructure Commission | Ohio Turnpike & Infrastructure Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 1998A (NPFGC) | Series 1998A (NPFGC) | Series 1998A (NPFGC) | Series 1998A (NPFGC) |
| 02/15/2026 | &nbsp;&nbsp; 5.500% | 1535000 | &nbsp;&nbsp; 1536773 |
| State of Ohio<sup>(d)</sup>  | State of Ohio<sup>(d)</sup>  | State of Ohio<sup>(d)</sup>  | State of Ohio<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Portsmouth Bypass Project | Portsmouth Bypass Project | Portsmouth Bypass Project | Portsmouth Bypass Project |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 06/30/2053 | &nbsp;&nbsp; 5.000% | 7835000 | &nbsp;&nbsp; 7635175 |
| Toledo-Lucas County Port Authority | Toledo-Lucas County Port Authority | Toledo-Lucas County Port Authority | Toledo-Lucas County Port Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| University of Toledo Project | University of Toledo Project | University of Toledo Project | University of Toledo Project |
| Series 2014 | Series 2014 | Series 2014 | Series 2014 |
| 07/01/2046 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 4624948 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **52533462** |
| **Oklahoma 0.4%** | **Oklahoma 0.4%** | **Oklahoma 0.4%** | **Oklahoma 0.4%** |
| Oklahoma Turnpike Authority | Oklahoma Turnpike Authority | Oklahoma Turnpike Authority | Oklahoma Turnpike Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 01/01/2054 | &nbsp;&nbsp; 5.500% | 2500000 | &nbsp;&nbsp; 2700911 |
| Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) |
| 01/01/2055 | &nbsp;&nbsp; 4.250% | 1625000 | &nbsp;&nbsp; 1601015 |
| Tulsa County Industrial Authority | Tulsa County Industrial Authority | Tulsa County Industrial Authority | Tulsa County Industrial Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Montereau, Inc. Project | Montereau, Inc. Project | Montereau, Inc. Project | Montereau, Inc. Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 11/15/2045 | &nbsp;&nbsp; 5.250% | 2720000 | &nbsp;&nbsp; 2723288 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7025214** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Oregon 1.7%** | **Oregon 1.7%** | **Oregon 1.7%** | **Oregon 1.7%** |
| Port of Portland Airport<sup>(d)</sup>  | Port of Portland Airport<sup>(d)</sup>  | Port of Portland Airport<sup>(d)</sup>  | Port of Portland Airport<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Green Bonds | Green Bonds | Green Bonds | Green Bonds |
| Series 2023-29 | Series 2023-29 | Series 2023-29 | Series 2023-29 |
| 07/01/2048 | &nbsp;&nbsp; 5.500% | 6790000 | &nbsp;&nbsp; 7153707 |
| 07/01/2053 | &nbsp;&nbsp; 5.500% | 6860000 | &nbsp;&nbsp; 7189030 |
| Sustainable Bonds | Sustainable Bonds | Sustainable Bonds | Sustainable Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 07/01/2049 | &nbsp;&nbsp; 5.250% | 11850000 | &nbsp;&nbsp; 12327871 |
| State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017D | Series 2017D | Series 2017D | Series 2017D |
| 01/01/2038 | &nbsp;&nbsp; 3.450% | 2820000 | &nbsp;&nbsp; 2765926 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **29436534** |
| **Pennsylvania 6.8%** | **Pennsylvania 6.8%** | **Pennsylvania 6.8%** | **Pennsylvania 6.8%** |
| Delaware Valley Regional Finance Authority | Delaware Valley Regional Finance Authority | Delaware Valley Regional Finance Authority | Delaware Valley Regional Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 1997C (AMBAC) | Series 1997C (AMBAC) | Series 1997C (AMBAC) | Series 1997C (AMBAC) |
| 07/01/2027 | &nbsp;&nbsp; 7.750% | 655000 | &nbsp;&nbsp; 702419 |
| Franklin County Industrial Development Authority | Franklin County Industrial Development Authority | Franklin County Industrial Development Authority | Franklin County Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Menno-Haven, Inc. Project | Menno-Haven, Inc. Project | Menno-Haven, Inc. Project | Menno-Haven, Inc. Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2048 | &nbsp;&nbsp; 5.000% | 1300000 | &nbsp;&nbsp; 1184552 |
| Montgomery County Industrial Development Authority | Montgomery County Industrial Development Authority | Montgomery County Industrial Development Authority | Montgomery County Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Meadowood Senior Living Project | Meadowood Senior Living Project | Meadowood Senior Living Project | Meadowood Senior Living Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2048 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 1981144 |
| Northampton County General Purpose Authority | Northampton County General Purpose Authority | Northampton County General Purpose Authority | Northampton County General Purpose Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| St. Luke's University Health Network | St. Luke's University Health Network | St. Luke's University Health Network | St. Luke's University Health Network |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 08/15/2048 | &nbsp;&nbsp; 4.000% | 12000000 | &nbsp;&nbsp; 10194724 |
| Pennsylvania Economic Development Finance Authority | Pennsylvania Economic Development Finance Authority | Pennsylvania Economic Development Finance Authority | Pennsylvania Economic Development Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017A (BAM) | Series 2017A (BAM) | Series 2017A (BAM) | Series 2017A (BAM) |
| 11/15/2042 | &nbsp;&nbsp; 4.000% | 24000000 | &nbsp;&nbsp; 23211372 |
| Pennsylvania Economic Development Financing Authority<sup>(c),(e)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(c),(e)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(c),(e)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(c),(e)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Tapestry Moon Senior Housing Project | Tapestry Moon Senior Housing Project | Tapestry Moon Senior Housing Project | Tapestry Moon Senior Housing Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2053 | &nbsp;&nbsp; 0.000% | 5625000 | &nbsp;&nbsp; 731250 |
| Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| PA Bridges Finco LP | PA Bridges Finco LP | PA Bridges Finco LP | PA Bridges Finco LP |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 12/31/2038 | &nbsp;&nbsp; 5.000% | 13820000 | &nbsp;&nbsp; 13852271 |
| 06/30/2042 | &nbsp;&nbsp; 5.000% | 8000000 | &nbsp;&nbsp; 8008376 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Proctor & Gamble Paper Project | Proctor & Gamble Paper Project | Proctor & Gamble Paper Project | Proctor & Gamble Paper Project |
| Series 2001 | Series 2001 | Series 2001 | Series 2001 |
| 03/01/2031 | &nbsp;&nbsp; 5.375% | 1000000 | &nbsp;&nbsp; 1129497 |
| The PennDOT Major Bridges Package One Project | The PennDOT Major Bridges Package One Project | The PennDOT Major Bridges Package One Project | The PennDOT Major Bridges Package One Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/30/2061 | &nbsp;&nbsp; 6.000% | 3000000 | &nbsp;&nbsp; 3172507 |
| Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) |
| 12/31/2057 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5012923 |
| Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  | Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  | Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  | Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025-1A | Series 2025-1A | Series 2025-1A | Series 2025-1A |
| 06/01/2034 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1089162 |
| Pennsylvania Housing Finance Agency | Pennsylvania Housing Finance Agency | Pennsylvania Housing Finance Agency | Pennsylvania Housing Finance Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2016-119 | Series 2016-119 | Series 2016-119 | Series 2016-119 |
| 10/01/2036 | &nbsp;&nbsp; 3.500% | 6000000 | &nbsp;&nbsp; 5976123 |
| Series 2016-121 | Series 2016-121 | Series 2016-121 | Series 2016-121 |
| 10/01/2036 | &nbsp;&nbsp; 3.100% | 10490000 | &nbsp;&nbsp; 10045312 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019-129 | Series 2019-129 | Series 2019-129 | Series 2019-129 |
| 10/01/2039 | &nbsp;&nbsp; 3.150% | 1730000 | &nbsp;&nbsp; 1610308 |
| 10/01/2045 | &nbsp;&nbsp; 3.350% | 6000000 | &nbsp;&nbsp; 5023552 |
| Series 2024-145A | Series 2024-145A | Series 2024-145A | Series 2024-145A |
| 10/01/2051 | &nbsp;&nbsp; 4.800% | 10000000 | &nbsp;&nbsp; 9938443 |
| Series 2024-146A | Series 2024-146A | Series 2024-146A | Series 2024-146A |
| 04/01/2053 | &nbsp;&nbsp; 4.750% | 10000000 | &nbsp;&nbsp; 9931146 |
| Series 2025-149A | Series 2025-149A | Series 2025-149A | Series 2025-149A |
| 10/01/2055 | &nbsp;&nbsp; 6.500% | 2000000 | &nbsp;&nbsp; 2313163 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **115108244** |
| **Puerto Rico 3.1%** | **Puerto Rico 3.1%** | **Puerto Rico 3.1%** | **Puerto Rico 3.1%** |
| Commonwealth of Puerto Rico<sup>(h),(i)</sup>  | Commonwealth of Puerto Rico<sup>(h),(i)</sup>  | Commonwealth of Puerto Rico<sup>(h),(i)</sup>  | Commonwealth of Puerto Rico<sup>(h),(i)</sup>  |
| Revenue Notes | Revenue Notes | Revenue Notes | Revenue Notes |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2051 | &nbsp;&nbsp; 0.000% | 2933278 | &nbsp;&nbsp; 1950630 |
| Subordinated Series 2022 | Subordinated Series 2022 | Subordinated Series 2022 | Subordinated Series 2022 |
| 11/01/2043 | &nbsp;&nbsp; 0.000% | 2282273 | &nbsp;&nbsp; 1494889 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2047 | &nbsp;&nbsp; 5.000% | 8210000 | &nbsp;&nbsp; 8138889 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 07/01/2047 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 442757 |
| Puerto Rico Electric Power Authority<sup>(e),(i)</sup>  | Puerto Rico Electric Power Authority<sup>(e),(i)</sup>  | Puerto Rico Electric Power Authority<sup>(e),(i)</sup>  | Puerto Rico Electric Power Authority<sup>(e),(i)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2010XX | Series 2010XX | Series 2010XX | Series 2010XX |
| 07/01/2040 | &nbsp;&nbsp; 0.000% | 7000000 | &nbsp;&nbsp; 4663750 |
| Series 2012A | Series 2012A | Series 2012A | Series 2012A |
| 07/01/2042 | &nbsp;&nbsp; 0.000% | 1360000 | &nbsp;&nbsp; 906100 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Puerto Rico Public Finance Corp.<sup>(i)</sup>  | Puerto Rico Public Finance Corp.<sup>(i)</sup>  | Puerto Rico Public Finance Corp.<sup>(i)</sup>  | Puerto Rico Public Finance Corp.<sup>(i)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Commonwealth Appropriation | Commonwealth Appropriation | Commonwealth Appropriation | Commonwealth Appropriation |
| Series 2002E Escrowed to Maturity (AMBAC) | Series 2002E Escrowed to Maturity (AMBAC) | Series 2002E Escrowed to Maturity (AMBAC) | Series 2002E Escrowed to Maturity (AMBAC) |
| 08/01/2027 | &nbsp;&nbsp; 5.500% | 450000 | &nbsp;&nbsp; 469741 |
| Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds |
| Commonwealth Appropriation | Commonwealth Appropriation | Commonwealth Appropriation | Commonwealth Appropriation |
| Series 2002E Escrowed to Maturity | Series 2002E Escrowed to Maturity | Series 2002E Escrowed to Maturity | Series 2002E Escrowed to Maturity |
| 08/01/2026 | &nbsp;&nbsp; 6.000% | 2470000 | &nbsp;&nbsp; 2511813 |
| Series 2002E Escrowed to Maturity (AMBAC) | Series 2002E Escrowed to Maturity (AMBAC) | Series 2002E Escrowed to Maturity (AMBAC) | Series 2002E Escrowed to Maturity (AMBAC) |
| 08/01/2027 | &nbsp;&nbsp; 5.500% | 1050000 | &nbsp;&nbsp; 1096063 |
| Puerto Rico Sales Tax Financing Corp.<sup>(g),(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(g),(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(g),(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(g),(i)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018A-1 | Series 2018A-1 | Series 2018A-1 | Series 2018A-1 |
| 07/01/2046 | &nbsp;&nbsp; 0.000% | 44200000 | &nbsp;&nbsp; 15314482 |
| 07/01/2051 | &nbsp;&nbsp; 0.000% | 18000000 | &nbsp;&nbsp; 4559573 |
| Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019A1 | Series 2019A1 | Series 2019A1 | Series 2019A1 |
| 07/01/2058 | &nbsp;&nbsp; 5.000% | 7500000 | &nbsp;&nbsp; 7340653 |
| Series 2019A-1 | Series 2019A-1 | Series 2019A-1 | Series 2019A-1 |
| 07/01/2053 | &nbsp;&nbsp; 4.750% | 4000000 | &nbsp;&nbsp; 3858114 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **52747454** |
| **South Carolina 2.0%** | **South Carolina 2.0%** | **South Carolina 2.0%** | **South Carolina 2.0%** |
| Patriots Energy Group Financing Agency | Patriots Energy Group Financing Agency | Patriots Energy Group Financing Agency | Patriots Energy Group Financing Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023B-1 (Mandatory Put 03/01/31) | Series 2023B-1 (Mandatory Put 03/01/31) | Series 2023B-1 (Mandatory Put 03/01/31) | Series 2023B-1 (Mandatory Put 03/01/31) |
| 02/01/2054 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 2159805 |
| South Carolina Jobs-Economic Development Authority | South Carolina Jobs-Economic Development Authority | South Carolina Jobs-Economic Development Authority | South Carolina Jobs-Economic Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| American Leadership Academy | American Leadership Academy | American Leadership Academy | American Leadership Academy |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/15/2033 | &nbsp;&nbsp; 5.500% | 4000000 | &nbsp;&nbsp; 3996638 |
| Novant Health Obligated Group | Novant Health Obligated Group | Novant Health Obligated Group | Novant Health Obligated Group |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2049 | &nbsp;&nbsp; 5.500% | 5000000 | &nbsp;&nbsp; 5328386 |
| 11/01/2054 | &nbsp;&nbsp; 5.500% | 2500000 | &nbsp;&nbsp; 2630787 |
| Rolling Green Village Project | Rolling Green Village Project | Rolling Green Village Project | Rolling Green Village Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/01/2045 | &nbsp;&nbsp; 5.500% | 375000 | &nbsp;&nbsp; 379448 |
| South Carolina Public Service Authority | South Carolina Public Service Authority | South Carolina Public Service Authority | South Carolina Public Service Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Santee Cooper | Santee Cooper | Santee Cooper | Santee Cooper |
| Series 2022A (BAM) | Series 2022A (BAM) | Series 2022A (BAM) | Series 2022A (BAM) |
| 12/01/2052 | &nbsp;&nbsp; 4.000% | 18000000 | &nbsp;&nbsp; 16430528 |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 12/01/2055 | &nbsp;&nbsp; 5.000% | 1625000 | &nbsp;&nbsp; 1650690 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| South Carolina State Housing Finance & Development Authority | South Carolina State Housing Finance & Development Authority | South Carolina State Housing Finance & Development Authority | South Carolina State Housing Finance & Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2035 | &nbsp;&nbsp; 2.650% | 845000 | &nbsp;&nbsp; 786185 |
| 07/01/2040 | &nbsp;&nbsp; 3.000% | 850000 | &nbsp;&nbsp; 765343 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **34127810** |
| **South Dakota 0.3%** | **South Dakota 0.3%** | **South Dakota 0.3%** | **South Dakota 0.3%** |
| South Dakota Housing Development Authority | South Dakota Housing Development Authority | South Dakota Housing Development Authority | South Dakota Housing Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) |
| 11/01/2044 | &nbsp;&nbsp; 4.450% | 2500000 | &nbsp;&nbsp; 2507649 |
| 05/01/2049 | &nbsp;&nbsp; 4.625% | 3410000 | &nbsp;&nbsp; 3394892 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5902541** |
| **Tennessee 2.3%** | **Tennessee 2.3%** | **Tennessee 2.3%** | **Tennessee 2.3%** |
| Greeneville Health & Educational Facilities Board | Greeneville Health & Educational Facilities Board | Greeneville Health & Educational Facilities Board | Greeneville Health & Educational Facilities Board |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Ballad Health | Ballad Health | Ballad Health | Ballad Health |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2040 | &nbsp;&nbsp; 4.000% | 7200000 | &nbsp;&nbsp; 7180545 |
| Shelby County Health & Educational Facility Board<sup>(c)</sup>  | Shelby County Health & Educational Facility Board<sup>(c)</sup>  | Shelby County Health & Educational Facility Board<sup>(c)</sup>  | Shelby County Health & Educational Facility Board<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Madrone Memphis Student Housing I LLC-University of Memphis Project | Madrone Memphis Student Housing I LLC-University of Memphis Project | Madrone Memphis Student Housing I LLC-University of Memphis Project | Madrone Memphis Student Housing I LLC-University of Memphis Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/01/2044 | &nbsp;&nbsp; 5.000% | 3515000 | &nbsp;&nbsp; 3503809 |
| Shelby County Health Educational & Housing Facilities Board | Shelby County Health Educational & Housing Facilities Board | Shelby County Health Educational & Housing Facilities Board | Shelby County Health Educational & Housing Facilities Board |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| The Farms at Bailey Station Project | The Farms at Bailey Station Project | The Farms at Bailey Station Project | The Farms at Bailey Station Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 10/01/2054 | &nbsp;&nbsp; 5.750% | 6750000 | &nbsp;&nbsp; 4571302 |
| Tennessee Energy Acquisition Corp. | Tennessee Energy Acquisition Corp. | Tennessee Energy Acquisition Corp. | Tennessee Energy Acquisition Corp. |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Gas Project | Gas Project | Gas Project | Gas Project |
| Series 2023A-1 (Mandatory Put 05/01/28) | Series 2023A-1 (Mandatory Put 05/01/28) | Series 2023A-1 (Mandatory Put 05/01/28) | Series 2023A-1 (Mandatory Put 05/01/28) |
| 05/01/2053 | &nbsp;&nbsp; 5.000% | 9805000 | &nbsp;&nbsp; 10161579 |
| Tennessee Housing Development Agency | Tennessee Housing Development Agency | Tennessee Housing Development Agency | Tennessee Housing Development Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 3rd Issue | 3rd Issue | 3rd Issue | 3rd Issue |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2037 | &nbsp;&nbsp; 3.400% | 690000 | &nbsp;&nbsp; 678441 |
| 07/01/2042 | &nbsp;&nbsp; 3.600% | 460000 | &nbsp;&nbsp; 433626 |
| Issue 3 | Issue 3 | Issue 3 | Issue 3 |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 01/01/2049 | &nbsp;&nbsp; 3.950% | 4855000 | &nbsp;&nbsp; 4383777 |
| Series 2024-1A | Series 2024-1A | Series 2024-1A | Series 2024-1A |
| 07/01/2044 | &nbsp;&nbsp; 4.500% | 1025000 | &nbsp;&nbsp; 1031096 |
| 07/01/2049 | &nbsp;&nbsp; 4.700% | 1650000 | &nbsp;&nbsp; 1655343 |
| 07/01/2054 | &nbsp;&nbsp; 4.800% | 685000 | &nbsp;&nbsp; 685456 |
| Series 2024-2A (GNMA) | Series 2024-2A (GNMA) | Series 2024-2A (GNMA) | Series 2024-2A (GNMA) |
| 07/01/2049 | &nbsp;&nbsp; 4.600% | 1050000 | &nbsp;&nbsp; 1044884 |
| 07/01/2054 | &nbsp;&nbsp; 4.650% | 1000000 | &nbsp;&nbsp; 988504 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Social Bond | Social Bond | Social Bond | Social Bond |
| Series 2022-2 | Series 2022-2 | Series 2022-2 | Series 2022-2 |
| 01/01/2048 | &nbsp;&nbsp; 4.350% | 3500000 | &nbsp;&nbsp; 3378545 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **39696907** |
| **Texas 12.8%** | **Texas 12.8%** | **Texas 12.8%** | **Texas 12.8%** |
| Arlington Higher Education Finance Corp. | Arlington Higher Education Finance Corp. | Arlington Higher Education Finance Corp. | Arlington Higher Education Finance Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Harmony Public Schools | Harmony Public Schools | Harmony Public Schools | Harmony Public Schools |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/15/2054 | &nbsp;&nbsp; 4.000% | 7000000 | &nbsp;&nbsp; 6242415 |
| Riverwalk Education Foundation | Riverwalk Education Foundation | Riverwalk Education Foundation | Riverwalk Education Foundation |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 08/15/2060 | &nbsp;&nbsp; 4.500% | 2750000 | &nbsp;&nbsp; 2612185 |
| Arlington Higher Education Finance Corp.<sup>(c)</sup>  | Arlington Higher Education Finance Corp.<sup>(c)</sup>  | Arlington Higher Education Finance Corp.<sup>(c)</sup>  | Arlington Higher Education Finance Corp.<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Legacy Traditional Schools - Texas Project | Legacy Traditional Schools - Texas Project | Legacy Traditional Schools - Texas Project | Legacy Traditional Schools - Texas Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 02/15/2062 | &nbsp;&nbsp; 6.750% | 5000000 | &nbsp;&nbsp; 4988085 |
| Austin Independent School District | Austin Independent School District | Austin Independent School District | Austin Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 08/01/2048 | &nbsp;&nbsp; 4.000% | 4400000 | &nbsp;&nbsp; 4132995 |
| Bastrop Independent School District | Bastrop Independent School District | Bastrop Independent School District | Bastrop Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 02/15/2053 | &nbsp;&nbsp; 5.000% | 11890000 | &nbsp;&nbsp; 12210153 |
| City of Houston | City of Houston | City of Houston | City of Houston |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| United Airlines, Inc. | United Airlines, Inc. | United Airlines, Inc. | United Airlines, Inc. |
| Series 2024B | Series 2024B | Series 2024B | Series 2024B |
| 07/15/2039 | &nbsp;&nbsp; 5.500% | 1700000 | &nbsp;&nbsp; 1834731 |
| City of Houston Airport System<sup>(d)</sup>  | City of Houston Airport System<sup>(d)</sup>  | City of Houston Airport System<sup>(d)</sup>  | City of Houston Airport System<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Subordinated Series 2023A (AGM) | Subordinated Series 2023A (AGM) | Subordinated Series 2023A (AGM) | Subordinated Series 2023A (AGM) |
| 07/01/2053 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5124690 |
| Clifton Higher Education Finance Corp. | Clifton Higher Education Finance Corp. | Clifton Higher Education Finance Corp. | Clifton Higher Education Finance Corp. |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| IDEA Public Schools | IDEA Public Schools | IDEA Public Schools | IDEA Public Schools |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 1625000 | &nbsp;&nbsp; 1486792 |
| 08/15/2054 | &nbsp;&nbsp; 4.000% | 1250000 | &nbsp;&nbsp; 1116260 |
| County of Harris Toll Road | County of Harris Toll Road | County of Harris Toll Road | County of Harris Toll Road |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 6675000 | &nbsp;&nbsp; 6230099 |
| Crowley Independent School District | Crowley Independent School District | Crowley Independent School District | Crowley Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 02/01/2053 | &nbsp;&nbsp; 4.250% | 2700000 | &nbsp;&nbsp; 2575723 |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/01/2054 | &nbsp;&nbsp; 4.250% | 5000000 | &nbsp;&nbsp; 4742710 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Cypress-Fairbanks Independent School District | Cypress-Fairbanks Independent School District | Cypress-Fairbanks Independent School District | Cypress-Fairbanks Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 02/15/2048 | &nbsp;&nbsp; 4.000% | 3265000 | &nbsp;&nbsp; 3076842 |
| Series 2024B | Series 2024B | Series 2024B | Series 2024B |
| 02/15/2049 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4672233 |
| Dallas Fort Worth International Airport | Dallas Fort Worth International Airport | Dallas Fort Worth International Airport | Dallas Fort Worth International Airport |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2049 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4559298 |
| Denton Independent School District | Denton Independent School District | Denton Independent School District | Denton Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 08/15/2053 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5150710 |
| Fort Bend Independent School District | Fort Bend Independent School District | Fort Bend Independent School District | Fort Bend Independent School District |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 2735000 | &nbsp;&nbsp; 2554663 |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 08/15/2055 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5280092 |
| Harris County Toll Road Authority (The) | Harris County Toll Road Authority (The) | Harris County Toll Road Authority (The) | Harris County Toll Road Authority (The) |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 08/15/2048 | &nbsp;&nbsp; 4.000% | 4000000 | &nbsp;&nbsp; 3757284 |
| Hays Consolidated Independent School District | Hays Consolidated Independent School District | Hays Consolidated Independent School District | Hays Consolidated Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Seires 2023 | Seires 2023 | Seires 2023 | Seires 2023 |
| 02/15/2048 | &nbsp;&nbsp; 5.000% | 4085000 | &nbsp;&nbsp; 4206754 |
| Humble Independent School District | Humble Independent School District | Humble Independent School District | Humble Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 02/15/2052 | &nbsp;&nbsp; 4.000% | 9250000 | &nbsp;&nbsp; 8494035 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 02/15/2052 | &nbsp;&nbsp; 4.000% | 2750000 | &nbsp;&nbsp; 2529197 |
| Hurst-Euless-Bedford Independent School District | Hurst-Euless-Bedford Independent School District | Hurst-Euless-Bedford Independent School District | Hurst-Euless-Bedford Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 08/15/2050 | &nbsp;&nbsp; 4.000% | 4000000 | &nbsp;&nbsp; 3708485 |
| Hutto Independent School District | Hutto Independent School District | Hutto Independent School District | Hutto Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 08/01/2053 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2576739 |
| Katy Independent School District | Katy Independent School District | Katy Independent School District | Katy Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 02/15/2052 | &nbsp;&nbsp; 4.000% | 3300000 | &nbsp;&nbsp; 3020871 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Midland Independent School District | Midland Independent School District | Midland Independent School District | Midland Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/15/2054 | &nbsp;&nbsp; 4.000% | 5365000 | &nbsp;&nbsp; 4861955 |
| Mission Economic Development Corp.<sup>(b)</sup>  | Mission Economic Development Corp.<sup>(b)</sup>  | Mission Economic Development Corp.<sup>(b)</sup>  | Mission Economic Development Corp.<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Graphic Packaging International LLC Project | Graphic Packaging International LLC Project | Graphic Packaging International LLC Project | Graphic Packaging International LLC Project |
| Series 2025 (Mandatory Put 06/01/30) | Series 2025 (Mandatory Put 06/01/30) | Series 2025 (Mandatory Put 06/01/30) | Series 2025 (Mandatory Put 06/01/30) |
| 12/01/2064 | &nbsp;&nbsp; 5.000% | 1550000 | &nbsp;&nbsp; 1608025 |
| New Braunfels Independent School District | New Braunfels Independent School District | New Braunfels Independent School District | New Braunfels Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/01/2052 | &nbsp;&nbsp; 4.000% | 2750000 | &nbsp;&nbsp; 2525640 |
| New Hope Cultural Education Facilities Finance Corp. | New Hope Cultural Education Facilities Finance Corp. | New Hope Cultural Education Facilities Finance Corp. | New Hope Cultural Education Facilities Finance Corp. |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Texas Children's Health System | Texas Children's Health System | Texas Children's Health System | Texas Children's Health System |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 08/15/2040 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 1000714 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Collegiate Housing College Station | Collegiate Housing College Station | Collegiate Housing College Station | Collegiate Housing College Station |
| Series 2014 | Series 2014 | Series 2014 | Series 2014 |
| 04/01/2046 | &nbsp;&nbsp; 5.000% | 7250000 | &nbsp;&nbsp; 7067927 |
| New Hope Cultural Education Facilities Finance Corp.<sup>(e),(j)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(e),(j)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(e),(j)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(e),(j)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project |
| Senior Series 2023A-1 | Senior Series 2023A-1 | Senior Series 2023A-1 | Senior Series 2023A-1 |
| 12/31/2030 | &nbsp;&nbsp; 0.000% | 9000000 | &nbsp;&nbsp; 9000000 |
| New Hope Cultural Education Facilities Finance Corp.<sup>(e)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(e)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(e)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project |
| Senior Series 2023A-2 | Senior Series 2023A-2 | Senior Series 2023A-2 | Senior Series 2023A-2 |
| 12/31/2030 | &nbsp;&nbsp; 0.000% | 1597312 | &nbsp;&nbsp; 1597312 |
| Cardinal Bay, Inc. - Village on the Park | Cardinal Bay, Inc. - Village on the Park | Cardinal Bay, Inc. - Village on the Park | Cardinal Bay, Inc. - Village on the Park |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 07/01/2031 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 780000 |
| 07/01/2051 | &nbsp;&nbsp; 0.000% | 6745000 | &nbsp;&nbsp; 5058750 |
| Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project | Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project | Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project | Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 07/01/2046 | &nbsp;&nbsp; 0.000% | 3335000 | &nbsp;&nbsp; 2534600 |
| Northside Independent School District | Northside Independent School District | Northside Independent School District | Northside Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2331701 |
| 08/15/2054 | &nbsp;&nbsp; 4.125% | 3500000 | &nbsp;&nbsp; 3245968 |
| Pottsboro Higher Education Finance Corp. | Pottsboro Higher Education Finance Corp. | Pottsboro Higher Education Finance Corp. | Pottsboro Higher Education Finance Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 08/15/2036 | &nbsp;&nbsp; 5.000% | 390000 | &nbsp;&nbsp; 390397 |
| Prosper Independent School District | Prosper Independent School District | Prosper Independent School District | Prosper Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 02/15/2052 | &nbsp;&nbsp; 4.000% | 4800000 | &nbsp;&nbsp; 4373523 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/15/2054 | &nbsp;&nbsp; 4.250% | 4000000 | &nbsp;&nbsp; 3769594 |
| Rockwall Independent School District | Rockwall Independent School District | Rockwall Independent School District | Rockwall Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 02/15/2048 | &nbsp;&nbsp; 5.250% | 5500000 | &nbsp;&nbsp; 5813743 |
| Tarrant County College District | Tarrant County College District | Tarrant County College District | Tarrant County College District |
| Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 08/15/2042 | &nbsp;&nbsp; 4.000% | 15600000 | &nbsp;&nbsp; 15728572 |
| Tarrant County Cultural Education Facilities Finance Corp.<sup>(e)</sup>  | Tarrant County Cultural Education Facilities Finance Corp.<sup>(e)</sup>  | Tarrant County Cultural Education Facilities Finance Corp.<sup>(e)</sup>  | Tarrant County Cultural Education Facilities Finance Corp.<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| CC Young Memorial Home | CC Young Memorial Home | CC Young Memorial Home | CC Young Memorial Home |
| Series 2009A | Series 2009A | Series 2009A | Series 2009A |
| 02/15/2038 | &nbsp;&nbsp; 0.000% | 3500000 | &nbsp;&nbsp; 2765000 |
| Texas Municipal Gas Acquisition & Supply Corp. VI | Texas Municipal Gas Acquisition & Supply Corp. VI | Texas Municipal Gas Acquisition & Supply Corp. VI | Texas Municipal Gas Acquisition & Supply Corp. VI |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 01/01/2036 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5419906 |
| Texas Private Activity Bond Surface Transportation Corp. | Texas Private Activity Bond Surface Transportation Corp. | Texas Private Activity Bond Surface Transportation Corp. | Texas Private Activity Bond Surface Transportation Corp. |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| LBJ Infrastructure Group LLC I-635 Managed Lanes Project | LBJ Infrastructure Group LLC I-635 Managed Lanes Project | LBJ Infrastructure Group LLC I-635 Managed Lanes Project | LBJ Infrastructure Group LLC I-635 Managed Lanes Project |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 12/31/2039 | &nbsp;&nbsp; 4.000% | 400000 | &nbsp;&nbsp; 399528 |
| Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  | Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  | Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  | Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| NTE Mobility Partners LLC North Tarrant Express Project | NTE Mobility Partners LLC North Tarrant Express Project | NTE Mobility Partners LLC North Tarrant Express Project | NTE Mobility Partners LLC North Tarrant Express Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 12/31/2058 | &nbsp;&nbsp; 5.500% | 6600000 | &nbsp;&nbsp; 6806771 |
| Segment 3C Project | Segment 3C Project | Segment 3C Project | Segment 3C Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/30/2058 | &nbsp;&nbsp; 5.000% | 16445000 | &nbsp;&nbsp; 16045763 |
| Texas Water Development Board | Texas Water Development Board | Texas Water Development Board | Texas Water Development Board |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 10/15/2058 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2567910 |
| Tomball Independent School District | Tomball Independent School District | Tomball Independent School District | Tomball Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| School Building | School Building | School Building | School Building |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 02/15/2034 | &nbsp;&nbsp; 3.000% | 1750000 | &nbsp;&nbsp; 1752629 |
| 02/15/2035 | &nbsp;&nbsp; 3.000% | 1750000 | &nbsp;&nbsp; 1742932 |
| 02/15/2036 | &nbsp;&nbsp; 3.000% | 1435000 | &nbsp;&nbsp; 1413547 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **217486448** |
| **Utah 0.5%** | **Utah 0.5%** | **Utah 0.5%** | **Utah 0.5%** |
| City of Salt Lake City Airport<sup>(d)</sup>  | City of Salt Lake City Airport<sup>(d)</sup>  | City of Salt Lake City Airport<sup>(d)</sup>  | City of Salt Lake City Airport<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 07/01/2053 | &nbsp;&nbsp; 5.250% | 2250000 | &nbsp;&nbsp; 2301890 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Point Phase 1 Public Infrastructure District No. 1 | Point Phase 1 Public Infrastructure District No. 1 | Point Phase 1 Public Infrastructure District No. 1 | Point Phase 1 Public Infrastructure District No. 1 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A-1 | Series 2025A-1 | Series 2025A-1 | Series 2025A-1 |
| 03/01/2045 | &nbsp;&nbsp; 5.875% | 2750000 | &nbsp;&nbsp; 2842650 |
| UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  | UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  | UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  | UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  |
| Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 06/01/2052 | &nbsp;&nbsp; 4.375% | 2240000 | &nbsp;&nbsp; 2038565 |
| Wakara Ridge Public Infrastructure District<sup>(c)</sup>  | Wakara Ridge Public Infrastructure District<sup>(c)</sup>  | Wakara Ridge Public Infrastructure District<sup>(c)</sup>  | Wakara Ridge Public Infrastructure District<sup>(c)</sup>  |
| Special Assessment Bonds | Special Assessment Bonds | Special Assessment Bonds | Special Assessment Bonds |
| Wakara Ridge Assessment Area | Wakara Ridge Assessment Area | Wakara Ridge Assessment Area | Wakara Ridge Assessment Area |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/01/2054 | &nbsp;&nbsp; 5.625% | 750000 | &nbsp;&nbsp; 763339 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7946444** |
| **Virginia 1.1%** | **Virginia 1.1%** | **Virginia 1.1%** | **Virginia 1.1%** |
| Virginia Small Business Financing Authority<sup>(d)</sup>  | Virginia Small Business Financing Authority<sup>(d)</sup>  | Virginia Small Business Financing Authority<sup>(d)</sup>  | Virginia Small Business Financing Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Transform 66 P3 Project | Transform 66 P3 Project | Transform 66 P3 Project | Transform 66 P3 Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 12/31/2052 | &nbsp;&nbsp; 5.000% | 13050000 | &nbsp;&nbsp; 12430702 |
| 12/31/2056 | &nbsp;&nbsp; 5.000% | 7500000 | &nbsp;&nbsp; 7078353 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **19509055** |
| **Washington 1.0%** | **Washington 1.0%** | **Washington 1.0%** | **Washington 1.0%** |
| King County Housing Authority | King County Housing Authority | King County Housing Authority | King County Housing Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 05/01/2038 | &nbsp;&nbsp; 3.750% | 2915000 | &nbsp;&nbsp; 2899776 |
| Port of Seattle | Port of Seattle | Port of Seattle | Port of Seattle |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Intermediate Lien | Intermediate Lien | Intermediate Lien | Intermediate Lien |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 07/01/2049 | &nbsp;&nbsp; 5.250% | 7500000 | &nbsp;&nbsp; 7786565 |
| Washington State Housing Finance Commission | Washington State Housing Finance Commission | Washington State Housing Finance Commission | Washington State Housing Finance Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Emerald Heights Project | Emerald Heights Project | Emerald Heights Project | Emerald Heights Project |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 07/01/2048 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 498087 |
| Washington State Housing Finance Commission<sup>(c)</sup>  | Washington State Housing Finance Commission<sup>(c)</sup>  | Washington State Housing Finance Commission<sup>(c)</sup>  | Washington State Housing Finance Commission<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Seattle Academy of Arts and Sciences Project | Seattle Academy of Arts and Sciences Project | Seattle Academy of Arts and Sciences Project | Seattle Academy of Arts and Sciences Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 07/01/2053 | &nbsp;&nbsp; 6.125% | 1445000 | &nbsp;&nbsp; 1530961 |
| 07/01/2059 | &nbsp;&nbsp; 6.250% | 1430000 | &nbsp;&nbsp; 1522283 |
| 07/01/2063 | &nbsp;&nbsp; 6.375% | 550000 | &nbsp;&nbsp; 587883 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Blakeley and Laurel Villages Portfolio | Blakeley and Laurel Villages Portfolio | Blakeley and Laurel Villages Portfolio | Blakeley and Laurel Villages Portfolio |
| Series 2025 (BAM) | Series 2025 (BAM) | Series 2025 (BAM) | Series 2025 (BAM) |
| 07/01/2045 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2513803 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **17339358** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **West Virginia 0.4%** | **West Virginia 0.4%** | **West Virginia 0.4%** | **West Virginia 0.4%** |
| West Virginia Economic Development Authority<sup>(b),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Commercial Metals Co. Project | Commercial Metals Co. Project | Commercial Metals Co. Project | Commercial Metals Co. Project |
| Series 2025 (Mandatory Put 05/15/32) | Series 2025 (Mandatory Put 05/15/32) | Series 2025 (Mandatory Put 05/15/32) | Series 2025 (Mandatory Put 05/15/32) |
| 04/15/2055 | &nbsp;&nbsp; 4.625% | 800000 | &nbsp;&nbsp; 818115 |
| West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Core Natural Resources, Inc. Project | Core Natural Resources, Inc. Project | Core Natural Resources, Inc. Project | Core Natural Resources, Inc. Project |
| Series 2025 (Mandatory Put 03/27/35) | Series 2025 (Mandatory Put 03/27/35) | Series 2025 (Mandatory Put 03/27/35) | Series 2025 (Mandatory Put 03/27/35) |
| 01/01/2055 | &nbsp;&nbsp; 5.450% | 750000 | &nbsp;&nbsp; 818533 |
| West Virginia Hospital Finance Authority | West Virginia Hospital Finance Authority | West Virginia Hospital Finance Authority | West Virginia Hospital Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| West Virginia University Health System Obligation | West Virginia University Health System Obligation | West Virginia University Health System Obligation | West Virginia University Health System Obligation |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 06/01/2052 | &nbsp;&nbsp; 5.000% | 4500000 | &nbsp;&nbsp; 4518239 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6154887** |
| **Wisconsin 2.9%** | **Wisconsin 2.9%** | **Wisconsin 2.9%** | **Wisconsin 2.9%** |
| Public Finance Authority | Public Finance Authority | Public Finance Authority | Public Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Friends Homes | Friends Homes | Friends Homes | Friends Homes |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 09/01/2049 | &nbsp;&nbsp; 5.000% | 4250000 | &nbsp;&nbsp; 4080348 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| ACTS Retirement - Life Communities | ACTS Retirement - Life Communities | ACTS Retirement - Life Communities | ACTS Retirement - Life Communities |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 11/15/2041 | &nbsp;&nbsp; 5.000% | 4000000 | &nbsp;&nbsp; 4164394 |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 07/01/2062 | &nbsp;&nbsp; 5.750% | 9450210 | &nbsp;&nbsp; 9863565 |
| Public Finance Authority<sup>(c)</sup>  | Public Finance Authority<sup>(c)</sup>  | Public Finance Authority<sup>(c)</sup>  | Public Finance Authority<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Legacy Hills Project | Legacy Hills Project | Legacy Hills Project | Legacy Hills Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 11/15/2045 | &nbsp;&nbsp; 6.000% | 4000000 | &nbsp;&nbsp; 3879547 |
| Mary's Woods at Marylhurst | Mary's Woods at Marylhurst | Mary's Woods at Marylhurst | Mary's Woods at Marylhurst |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 05/15/2042 | &nbsp;&nbsp; 5.250% | 820000 | &nbsp;&nbsp; 825866 |
| 05/15/2047 | &nbsp;&nbsp; 5.250% | 1105000 | &nbsp;&nbsp; 1101844 |
| University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Green Bonds - University of Wisconsin Hospital | Green Bonds - University of Wisconsin Hospital | Green Bonds - University of Wisconsin Hospital | Green Bonds - University of Wisconsin Hospital |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 04/01/2051 | &nbsp;&nbsp; 4.000% | 10000000 | &nbsp;&nbsp; 9006028 |
| Wisconsin Center District<sup>(g)</sup>  | Wisconsin Center District<sup>(g)</sup>  | Wisconsin Center District<sup>(g)</sup>  | Wisconsin Center District<sup>(g)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Senior Dedicated | Senior Dedicated | Senior Dedicated | Senior Dedicated |
| Series 2020 (AGM) | Series 2020 (AGM) | Series 2020 (AGM) | Series 2020 (AGM) |
| 12/15/2060 | &nbsp;&nbsp; 0.000% | 11125000 | &nbsp;&nbsp; 1945146 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Wisconsin Health & Educational Facilities Authority | Wisconsin Health & Educational Facilities Authority | Wisconsin Health & Educational Facilities Authority | Wisconsin Health & Educational Facilities Authority |
| Prerefunded 05/15/2026 Revenue Bonds | Prerefunded 05/15/2026 Revenue Bonds | Prerefunded 05/15/2026 Revenue Bonds | Prerefunded 05/15/2026 Revenue Bonds |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 11/15/2046 | &nbsp;&nbsp; 4.000% | 15000 | &nbsp;&nbsp; 15074 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 11/15/2046 | &nbsp;&nbsp; 4.000% | 1820000 | &nbsp;&nbsp; 1659103 |
| St. Camillus Health System, Inc. | St. Camillus Health System, Inc. | St. Camillus Health System, Inc. | St. Camillus Health System, Inc. |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 11/01/2046 | &nbsp;&nbsp; 5.000% | 2100000 | &nbsp;&nbsp; 1966401 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Covenant Communities, Inc. Project | Covenant Communities, Inc. Project | Covenant Communities, Inc. Project | Covenant Communities, Inc. Project |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 07/01/2048 | &nbsp;&nbsp; 4.000% | 2335000 | &nbsp;&nbsp; 1859117 |
| 07/01/2053 | &nbsp;&nbsp; 4.125% | 5000000 | &nbsp;&nbsp; 3914509 |
| Marshfield Clinic Health System | Marshfield Clinic Health System | Marshfield Clinic Health System | Marshfield Clinic Health System |
| Series 2024 (BAM) | Series 2024 (BAM) | Series 2024 (BAM) | Series 2024 (BAM) |
| 02/15/2054 | &nbsp;&nbsp; 5.500% | 3245000 | &nbsp;&nbsp; 3393457 |
| Wisconsin Housing & Economic Development Authority Home Ownership | Wisconsin Housing & Economic Development Authority Home Ownership | Wisconsin Housing & Economic Development Authority Home Ownership | Wisconsin Housing & Economic Development Authority Home Ownership |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 09/01/2055 | &nbsp;&nbsp; 6.250% | 1770000 | &nbsp;&nbsp; 1984357 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **49658756** |
| **Wyoming 0.4%** | **Wyoming 0.4%** | **Wyoming 0.4%** | **Wyoming 0.4%** |
| County of Campbell | County of Campbell | County of Campbell | County of Campbell |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Basin Electric Power Cooperative | Basin Electric Power Cooperative | Basin Electric Power Cooperative | Basin Electric Power Cooperative |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 07/15/2039 | &nbsp;&nbsp; 3.625% | 7600000 | &nbsp;&nbsp; 7371318 |
| Total Municipal Bonds <br>(Cost $1,615,974,355) | Total Municipal Bonds <br>(Cost $1,615,974,355) | Total Municipal Bonds <br>(Cost $1,615,974,355) | &nbsp;&nbsp; **1582823316** |
| **Municipal Short Term 0.1%** | **Municipal Short Term 0.1%** | **Municipal Short Term 0.1%** | **Municipal Short Term 0.1%** |
| **Issue Description** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Illinois 0.1%** | **Illinois 0.1%** | **Illinois 0.1%** | **Illinois 0.1%** |
| Illinois Finance Authority<sup>(b),(c)</sup>  | Illinois Finance Authority<sup>(b),(c)</sup>  | Illinois Finance Authority<sup>(b),(c)</sup>  | Illinois Finance Authority<sup>(b),(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025 (Mandatory Put 07/02/35) | Series 2025 (Mandatory Put 07/02/35) | Series 2025 (Mandatory Put 07/02/35) | Series 2025 (Mandatory Put 07/02/35) |
| 12/01/2043 | &nbsp;&nbsp; 4.470% | 2100000 | &nbsp;&nbsp; 2184778 |
| Total Municipal Short Term <br>(Cost $2,100,000) | Total Municipal Short Term <br>(Cost $2,100,000) | Total Municipal Short Term <br>(Cost $2,100,000) | &nbsp;&nbsp; **2184778** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Warrants 0.0%** | **Warrants 0.0%** | **Warrants 0.0%** |
| **Issuer** | **Shares** | **Value ($)** |
| **United States 0.0%** | **United States 0.0%** | **United States 0.0%** |
| BL Train Holdings West LLC<sup>(k),(l),(m)</sup> <br>| &nbsp;&nbsp; 5520 | &nbsp;&nbsp; 55 |
| Total Warrants <br>(Cost $1) | Total Warrants <br>(Cost $1) | &nbsp;&nbsp; **55** |
| **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** |
|  | **Shares** | **Value ($)** |
| BlackRock Liquidity Funds MuniCash, <br> Institutional Shares, 2.029%<sup>(n)</sup> <br>| &nbsp;&nbsp; 59428411 | &nbsp;&nbsp; 59434354 |
| Total Money Market Funds <br>(Cost $59,428,411) | Total Money Market Funds <br>(Cost $59,428,411) | &nbsp;&nbsp; **59434354** |
| **Total Investments in Securities** <br>**(Cost $1,723,467,767)** | **Total Investments in Securities** <br>**(Cost $1,723,467,767)** | &nbsp;&nbsp; **1690407503** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **14463216** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$1704870719** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund is entitled to receive principal and interest from the guarantor after a day or a week's notice or upon maturity. The maturity date disclosed represents the final maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 January 31, 2026, the total value of these securities amounted to $72,759,213, which represents 4.27% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Income from this security may be subject to alternative minimum tax.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Represents a security in default.

&nbsp;&nbsp;&nbsp;&nbsp;(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 January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Zero coupon bond.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Coupon rate may change periodically and is determined by the issuer or agent bank based on current market conditions.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At January 31, 2026, the total value of these securities amounted to $52,747,454, which represents 3.09% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Partial payment received at last interest date.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2026, the total value of these securities amounted to $55, which represents less than 0.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Non-income producing investment.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Valuation based on significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(n) The rate shown is the seven-day current annualized yield at January 31, 2026.

**Abbreviation Legend** 

---

| | |
|:---|:---|
| ACA | ACA Financial Guaranty Corporation |
| AGM | Assured Guaranty Municipal Corporation |
| AMBAC | Ambac Assurance Corporation |
| BAM | Build America Mutual Assurance Co. |
| FHA | Federal Housing Authority |
| GNMA | Government National Mortgage Association |
| HUD | U.S. Department of Housing and Urban Development |
| NPFGC | National Public Finance Guarantee Corporation |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements** 

The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund's assumptions about the information market participants would use in pricing an investment. An investment's level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset's or liability's fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

■

Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

■

Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

■

Level 3 — Valuations based on significant unobservable inputs (including the Fund's own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment's fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category, if any, are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The Fund's Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager's organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Floating Rate Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 45965000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 45965000 |
| Municipal Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp; 1582823316 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1582823316 |
| Municipal Short Term |  | &nbsp;&nbsp;&nbsp;&nbsp; 2184778 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2184778 |
| Warrants |  |  |  |  |
| Financials |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 55 |
| Total Warrants |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 55 |
| Money Market Funds | 59434354 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 59434354 |
| Total Investments in Securities | 59434354 | &nbsp;&nbsp;&nbsp;&nbsp; 1630973094 | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 1690407503 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

The Fund does not hold any significant investments (greater than one percent of net assets) categorized as Level 3.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $1,723,467,767) | $1690407503 |
| Cash | 6162 |
| Receivable for: |  |
| Capital shares sold | 6031150 |
| Dividends | 32373 |
| Interest | 16855106 |
| Expense reimbursement due from Investment Manager | 448 |
| Prepaid expenses | 8340 |
| Deferred compensation of board members | 662745 |
| Other assets | 9459 |
| Total assets | 1714013286 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 2739429 |
| Distributions to shareholders | 5487723 |
| Management services fees | 21635 |
| Distribution and/or service fees | 7304 |
| Transfer agent fees | 89550 |
| Compensation of chief compliance officer | 144 |
| Compensation of board members | 1675 |
| Other expenses | 16187 |
| Deferred compensation of board members | 778920 |
| Total liabilities | 9142567 |
| **Net assets applicable to outstanding capital stock** | **$1704870719** |
| **Represented by** |  |
| Paid in capital | 1958155806 |
| Total distributable earnings (loss) | (253285087)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$1704870719** |
| **Class A** |  |
| Net assets | $1283678834 |
| Shares outstanding | 109251883 |
| Net asset value per share | $11.75 |
| 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) | $12.11 |
| **Class C** |  |
| Net assets | $12823875 |
| Shares outstanding | 1091645 |
| Net asset value per share | $11.75 |
| **Institutional Class** |  |
| Net assets | $257249144 |
| Shares outstanding | 21887225 |
| Net asset value per share | $11.75 |
| **Institutional 2 Class** |  |
| Net assets | $43740708 |
| Shares outstanding | 3721162 |
| Net asset value per share | $11.75 |
| **Institutional 3 Class** |  |
| Net assets | $87357957 |
| Shares outstanding | 7411351 |
| Net asset value per share | $11.79 |
| **Class S** |  |
| Net assets | $20020201 |
| Shares outstanding | 1703408 |
| Net asset value per share | $11.75 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $240300 |
| Interest | 38796036 |
| Total income | 39036336 |
| Expenses: |  |
| Management services fees | 4042803 |
| Distribution and/or service fees |  |
| Class A | 1321219 |
| Class C | 55215 |
| Transfer agent fees |  |
| Class A | 442696 |
| Class C | 4625 |
| Institutional Class | 87463 |
| Institutional 2 Class | 11150 |
| Institutional 3 Class | 1624 |
| Class S | 7045 |
| Custodian fees | 9311 |
| Printing and postage fees | 33880 |
| Registration fees | 74868 |
| Accounting services fees | 16256 |
| Legal fees | 40244 |
| Compensation of chief compliance officer | 144 |
| Compensation of board members | 14799 |
| Deferred compensation of board members | 11926 |
| Other | 20902 |
| Total expenses | 6196170 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (80920)<br>|
| Expense reduction | (2000)<br>|
| Total net expenses | 6113250 |
| **Net investment income** | 32923086 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | (24343090)<br>|
| Net realized loss | (24343090)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 107309292 |
| Net change in unrealized appreciation (depreciation) | 107309292 |
| Net realized and unrealized gain | 82966202 |
| **Net increase in net assets resulting from operations** | **$115889288** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $32923086 | &nbsp;&nbsp; $72267912 |
| Net realized loss | (24343090)<br>| &nbsp;&nbsp; (52514442)<br>|
| Net change in unrealized appreciation (depreciation) | 107309292 | &nbsp;&nbsp; (65442972)<br>|
| Net increase (decrease) in net assets resulting from operations | 115889288 | &nbsp;&nbsp; (45689502)<br>|
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (24493074)<br>| &nbsp;&nbsp; (53921548)<br>|
| Advisor Class |  | &nbsp;&nbsp; (184084)<br>|
| Class C | (214001)<br>| &nbsp;&nbsp; (512759)<br>|
| Institutional Class | (5100044)<br>| &nbsp;&nbsp; (11297938)<br>|
| Institutional 2 Class | (817033)<br>| &nbsp;&nbsp; (1421401)<br>|
| Institutional 3 Class | (1691248)<br>| &nbsp;&nbsp; (3618467)<br>|
| Class S | (410738)<br>| &nbsp;&nbsp; (769440)<br>|
| Total distributions to shareholders | (32726138)<br>| &nbsp;&nbsp; (71725637)<br>|
| Decrease in net assets from capital stock activity | (130014582)<br>| &nbsp;&nbsp; (169711298)<br>|
| Total decrease in net assets | (46851432)<br>| &nbsp;&nbsp; (287126437)<br>|
| Net assets at beginning of period | 1751722151 | &nbsp;&nbsp; 2038848588 |
| **Net assets at end of period** | **$1704870719** | &nbsp;&nbsp; **$1751722151** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Statement of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 2472605 | &nbsp;&nbsp;&nbsp;&nbsp; 28781619 | &nbsp;&nbsp;&nbsp;&nbsp; 4321272 | &nbsp;&nbsp;&nbsp;&nbsp; 50737359 |
| Distributions reinvested | 1976319 | &nbsp;&nbsp;&nbsp;&nbsp; 23039519 | &nbsp;&nbsp;&nbsp;&nbsp; 4323226 | &nbsp;&nbsp;&nbsp;&nbsp; 50733888 |
| Shares redeemed | (12653861)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (147292259)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (23195272)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (272051504)<br>|
| Net decrease | (8204937)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (95471121)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14550774)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (170580257)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 67018 | &nbsp;&nbsp;&nbsp;&nbsp; 802066 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12369 | &nbsp;&nbsp;&nbsp;&nbsp; 148529 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1411950)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (16937157)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1332563)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (15986562)<br>|
| Class C |  |  |  |  |
| Shares sold | 72807 | &nbsp;&nbsp;&nbsp;&nbsp; 844411 | &nbsp;&nbsp;&nbsp;&nbsp; 258365 | &nbsp;&nbsp;&nbsp;&nbsp; 3019720 |
| Distributions reinvested | 17947 | &nbsp;&nbsp;&nbsp;&nbsp; 209182 | &nbsp;&nbsp;&nbsp;&nbsp; 42332 | &nbsp;&nbsp;&nbsp;&nbsp; 496611 |
| Shares redeemed | (267084)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3108824)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (582971)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6809463)<br>|
| Net decrease | (176330)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2055231)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (282274)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3293132)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 2774006 | &nbsp;&nbsp;&nbsp;&nbsp; 32292425 | &nbsp;&nbsp;&nbsp;&nbsp; 9232012 | &nbsp;&nbsp;&nbsp;&nbsp; 108846688 |
| Distributions reinvested | 366147 | &nbsp;&nbsp;&nbsp;&nbsp; 4269971 | &nbsp;&nbsp;&nbsp;&nbsp; 798540 | &nbsp;&nbsp;&nbsp;&nbsp; 9365340 |
| Shares redeemed | (6091503)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (70072725)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10367179)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (122240214)<br>|
| Net decrease | (2951350)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (33510329)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (336627)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4028186)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 1067730 | &nbsp;&nbsp;&nbsp;&nbsp; 12414268 | &nbsp;&nbsp;&nbsp;&nbsp; 1896865 | &nbsp;&nbsp;&nbsp;&nbsp; 22324094 |
| Distributions reinvested | 69981 | &nbsp;&nbsp;&nbsp;&nbsp; 816474 | &nbsp;&nbsp;&nbsp;&nbsp; 121225 | &nbsp;&nbsp;&nbsp;&nbsp; 1420283 |
| Shares redeemed | (821273)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9573729)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1412511)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (16582891)<br>|
| Net increase | 316438 | &nbsp;&nbsp;&nbsp;&nbsp; 3657013 | &nbsp;&nbsp;&nbsp;&nbsp; 605579 | &nbsp;&nbsp;&nbsp;&nbsp; 7161486 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 1262445 | &nbsp;&nbsp;&nbsp;&nbsp; 14712470 | &nbsp;&nbsp;&nbsp;&nbsp; 1781921 | &nbsp;&nbsp;&nbsp;&nbsp; 21120708 |
| Distributions reinvested | 32435 | &nbsp;&nbsp;&nbsp;&nbsp; 379362 | &nbsp;&nbsp;&nbsp;&nbsp; 72261 | &nbsp;&nbsp;&nbsp;&nbsp; 850527 |
| Shares redeemed | (1307396)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (15196488)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2409198)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (28347157)<br>|
| Net decrease | (12516)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (104656)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (555016)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6375922)<br>|
| Class S |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2203218 | &nbsp;&nbsp;&nbsp;&nbsp; 26701451 |
| Distributions reinvested | 35223 | &nbsp;&nbsp;&nbsp;&nbsp; 410645 | &nbsp;&nbsp;&nbsp;&nbsp; 65897 | &nbsp;&nbsp;&nbsp;&nbsp; 769208 |
| Shares redeemed | (252367)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2940903)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (348563)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4079384)<br>|
| Net increase (decrease) | (217144)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2530258)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1920552 | &nbsp;&nbsp;&nbsp;&nbsp; 23391275 |
| **Total net decrease** | **(11245839)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(130014582)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(14531123)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(169711298)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

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Columbia Total Return Municipal Income Fund \| 2026

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Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.20 | 0.22 | 0.55 | 0.77 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.22)<br>|
| Year Ended 7/31/2025 | $11.93 | 0.43 | &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 7/31/2024 | $11.70 | 0.43 | 0.23 | 0.66 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 7/31/2023 | $12.16 | 0.41 | &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.40)<br>|
| Year Ended 7/31/2022 | $13.84 | 0.36 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.43)<br>|
| Year Ended 7/31/2021 | $13.50 | 0.38 | 0.38 | 0.76 | &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.42)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.20 | 0.18 | 0.55 | 0.73 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.18)<br>|
| Year Ended 7/31/2025 | $11.93 | 0.36 | &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.36)<br>|
| Year Ended 7/31/2024 | $11.70 | 0.36 | 0.23 | 0.59 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.36)<br>|
| Year Ended 7/31/2023 | $12.16 | 0.34 | &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.33)<br>|
| Year Ended 7/31/2022 | $13.83 | 0.29 | &nbsp;&nbsp; (1.60)<br>| &nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.36)<br>|
| Year Ended 7/31/2021 | $13.50 | 0.29 | 0.38 | 0.67 | &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.34)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.21 | 0.23 | 0.54 | 0.77 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.23)<br>|
| Year Ended 7/31/2025 | $11.93 | 0.46 | &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.45)<br>|
| Year Ended 7/31/2024 | $11.71 | 0.46 | 0.21 | 0.67 | &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.45)<br>|
| Year Ended 7/31/2023 | $12.16 | 0.43 | &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 7/31/2022 | $13.84 | 0.39 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; (1.22)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2021 | $13.50 | 0.40 | 0.39 | 0.79 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.45)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.21 | 0.23 | 0.54 | 0.77 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.23)<br>|
| Year Ended 7/31/2025 | $11.94 | 0.46 | &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2024 | $11.71 | 0.46 | 0.23 | 0.69 | &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2023 | $12.16 | 0.43 | &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 7/31/2022 | $13.84 | 0.39 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; (1.22)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2021 | $13.50 | 0.41 | 0.38 | 0.79 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.45)<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

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Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.75 | &nbsp;&nbsp;&nbsp;&nbsp; 6.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.73% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $1283679 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.20 | &nbsp;&nbsp;&nbsp;&nbsp; (2.61%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.69% | &nbsp;&nbsp;&nbsp;&nbsp; 28% | &nbsp;&nbsp;&nbsp;&nbsp; $1316006 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.93 | &nbsp;&nbsp;&nbsp;&nbsp; 5.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.72% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $1575080 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.70 | &nbsp;&nbsp;&nbsp;&nbsp; (0.38%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.47% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $1694619 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.16 | &nbsp;&nbsp;&nbsp;&nbsp; (9.15%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.80% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $2037502 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $13.84 | &nbsp;&nbsp;&nbsp;&nbsp; 5.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.78% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $2536239 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.75 | &nbsp;&nbsp;&nbsp;&nbsp; 6.55% | &nbsp;&nbsp;&nbsp;&nbsp; 1.36% | &nbsp;&nbsp;&nbsp;&nbsp; 1.35% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.13% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $12824 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.20 | &nbsp;&nbsp;&nbsp;&nbsp; (3.19%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.09% | &nbsp;&nbsp;&nbsp;&nbsp; 28% | &nbsp;&nbsp;&nbsp;&nbsp; $14204 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.93 | &nbsp;&nbsp;&nbsp;&nbsp; 5.17% | &nbsp;&nbsp;&nbsp;&nbsp; 1.35% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.10% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $18493 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.70 | &nbsp;&nbsp;&nbsp;&nbsp; (0.98%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.34% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.34% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.87% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $24894 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.16 | &nbsp;&nbsp;&nbsp;&nbsp; (9.63%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.38% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.32% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.20% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $31541 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $13.83 | &nbsp;&nbsp;&nbsp;&nbsp; 5.03% | &nbsp;&nbsp;&nbsp;&nbsp; 1.47% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.33% <br><sup>(c),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.17% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $44740 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.75 | &nbsp;&nbsp;&nbsp;&nbsp; 6.89% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.93% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $257249 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.21 | &nbsp;&nbsp;&nbsp;&nbsp; (2.33%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.90% | &nbsp;&nbsp;&nbsp;&nbsp; 28% | &nbsp;&nbsp;&nbsp;&nbsp; $278382 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.93 | &nbsp;&nbsp;&nbsp;&nbsp; 5.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.92% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $300465 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.71 | &nbsp;&nbsp;&nbsp;&nbsp; (0.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.54% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.54% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.65% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $327608 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.16 | &nbsp;&nbsp;&nbsp;&nbsp; (8.97%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.01% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $532342 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $13.84 | &nbsp;&nbsp;&nbsp;&nbsp; 5.95% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.97% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $637596 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.75 | &nbsp;&nbsp;&nbsp;&nbsp; 6.89% | &nbsp;&nbsp;&nbsp;&nbsp; 0.54% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 3.94% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $43741 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.21 | &nbsp;&nbsp;&nbsp;&nbsp; (2.39%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.54% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.92% | &nbsp;&nbsp;&nbsp;&nbsp; 28% | &nbsp;&nbsp;&nbsp;&nbsp; $38164 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.94 | &nbsp;&nbsp;&nbsp;&nbsp; 6.03% | &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.95% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $33413 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.71 | &nbsp;&nbsp;&nbsp;&nbsp; (0.08%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.68% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $13264 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.16 | &nbsp;&nbsp;&nbsp;&nbsp; (8.96%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.00% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $15272 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $13.84 | &nbsp;&nbsp;&nbsp;&nbsp; 5.97% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.00% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $22033 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.24 | 0.23 | 0.55 | 0.78 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.23)<br>|
| Year Ended 7/31/2025 | $11.97 | 0.47 | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2024 | $11.74 | 0.46 | 0.23 | 0.69 | &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2023 | $12.19 | 0.44 | &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.44)<br>|
| Year Ended 7/31/2022 | $13.88 | 0.40 | &nbsp;&nbsp; (1.62)<br>| &nbsp;&nbsp; (1.22)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.47)<br>|
| Year Ended 7/31/2021 | $13.54 | 0.41 | 0.39 | 0.80 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.46)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.21 | 0.23 | 0.54 | 0.77 | &nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.23)<br>|
| Year Ended 7/31/2025<sup>(g)</sup> <br>| $12.18 | 0.38 | &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.38)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **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 interfund lending expense which is less than 0.01%. |
| (e) | Ratios include interest and fee expense related to the participation in certain inverse floater programs. If interest and fee expense related to the participation in certain <br> inverse floater programs had been excluded, expenses would have been lower by less than 0.01%. Due to an equal increase in interest income from fixed rate municipal <br> bonds held in trust, there is no impact on the Fund's net assets, net asset value per share, total return or net investment income.<br>|
| (f) | 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: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **7/31/2021** |
| Class C | 0.01% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(g) Class S shares commenced operations on October 2, 2024. Per share data and total return reflect activity from that date.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.79 | &nbsp;&nbsp;&nbsp;&nbsp; 7.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 4.00% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $87358 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.24 | &nbsp;&nbsp;&nbsp;&nbsp; (2.33%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.96% | &nbsp;&nbsp;&nbsp;&nbsp; 28% | &nbsp;&nbsp;&nbsp;&nbsp; $83442 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.97 | &nbsp;&nbsp;&nbsp;&nbsp; 6.08% | &nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.97% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $95503 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $11.74 | &nbsp;&nbsp;&nbsp;&nbsp; (0.02%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.78% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $110262 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.19 | &nbsp;&nbsp;&nbsp;&nbsp; (8.96%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.07% | &nbsp;&nbsp;&nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp;&nbsp; $21828 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $13.88 | &nbsp;&nbsp;&nbsp;&nbsp; 6.01% | &nbsp;&nbsp;&nbsp;&nbsp; 0.47% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.03% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $27202 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.75 | &nbsp;&nbsp;&nbsp;&nbsp; 6.89% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.93% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $20020 |
|  Year Ended 7/31/2025 <br><sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $11.21 | &nbsp;&nbsp;&nbsp;&nbsp; (4.95%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.98% | &nbsp;&nbsp;&nbsp;&nbsp; 28% | &nbsp;&nbsp;&nbsp;&nbsp; $21525 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Total Return Municipal Income Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Total Return Municipal Income Fund (the Fund), a series of Columbia Funds Series Trust I (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**Fund shares**

The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust's organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.

As described in the Fund's prospectus, Class A and Class C shares are offered to the general public for investment. Class C shares automatically convert to Class A shares after 8 years. Institutional Class, Institutional 2 Class, Institutional 3 Class and Class S shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Debt securities generally are valued based on prices obtained from pricing services, which are intended to reflect market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques that take into account, as applicable, factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as approved independent broker-dealer quotes. Debt securities for which quotations are not readily available or not believed to be reflective of market value may also be valued based upon a bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.

Columbia Total Return Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted.

The Fund may place a debt security on non-accrual status and reduce related interest income when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. The Fund may also adjust accrual rates when it becomes probable the full interest will not be collected and a partial payment will be received. A defaulted debt security is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Dividend income is recorded on the ex-dividend date.

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its net tax-exempt and investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

Columbia Total Return Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.48% to 0.29% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.46% of the Fund's average daily net assets.

**Compensation of Board members**

Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund's liability for these amounts is adjusted for market value changes and remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees' fees deferred during the current period as well as any gains or losses on the Trustees' deferred compensation balances as a result of market fluctuations, is included in "Deferred compensation of board members" in the Statement of Operations.

**Compensation of Chief Compliance Officer**

The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer's total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

Columbia Total Return Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.07 |
| Class C | 0.07 |
| Institutional Class | 0.07 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class S | 0.07 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $2,000.

**Distribution and service fees**

The Fund has entered into an agreement with Columbia Management Investment Distributors, Inc. (the Distributor), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, for distribution and shareholder services. The Board of Trustees has approved, and the Fund has adopted, distribution and shareholder service plans (the Plans) applicable to certain share classes, which set the distribution and service fees for the Fund. These fees are calculated daily and are intended to compensate the Distributor and/or eligible selling and/or servicing agents for selling shares of the Fund and providing services to investors.

Under the Plans, the Fund pays a monthly service fee to the Distributor at the maximum annual rate of 0.20% of the average daily net assets attributable to Class A and Class C shares of the Fund. Also under the Plans, the Fund pays a monthly distribution fee to the Distributor at the maximum annual rate of 0.60% of the average daily net assets attributable to Class C shares of the Fund.

**Sales charges** 

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the six months ended January 31, 2026, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 3.00<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.75 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 57090 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 165 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.

The Fund's other share classes are not subject to sales charges.

Columbia Total Return Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.35 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.55 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.54 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.49 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.55 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>|
| 1723468000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27931000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60991000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33060000)<br>|

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

The following capital loss carryforwards, determined at July 31, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code.

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
| (26605406)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (181199236)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (207804642)<br>|

---

Columbia Total Return Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $120,688,133 and $290,691,442, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Interfund lending

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.

Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager's relationship with each Participating Fund.

The Fund did not borrow or lend money under the Interfund Program during the six months ended January 31, 2026.

Note 7. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 8. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Columbia Total Return Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 35.9% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 9. Subsequent events

Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosure.

Note 10. Information regarding pending and settled legal proceedings

Ameriprise Financial and certain of its affiliates are involved, in the normal course of business, in legal proceedings that include regulatory inquiries, arbitration and litigation (including class actions) concerning matters arising in connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund. Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the Securities and Exchange Commission (SEC) on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss that may result from such matters. An adverse outcome in one or more of these proceedings could result in adverse judgments, settlements, fines, penalties or other relief, and may lead to further claims, examinations, adverse publicity or reputational damage, each of which could have a material adverse effect on the consolidated financial condition or results of operations or financial condition of Ameriprise Financial or one or more of its affiliates that provide services to the Fund.

Columbia Total Return Municipal Income Fund \| 2026

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**Columbia Total Return Municipal Income Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g270970img1f311e202.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR233_07_T01_(03/26)

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![](g270970img39250f9a1.jpg)

Columbia Ultra Short Term Bond Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_9e90c766-d921-498e-a2ef-f2465bf88d9c_POI-CommonContent-Date-22_1) | 3 |
| [Statement of Assets and Liabilities](#xx_9e90c766-d921-498e-a2ef-f2465bf88d9c_FS-CommonContent-Date-22_1) | 13 |
| [Statement of Operations](#xx_9e90c766-d921-498e-a2ef-f2465bf88d9c_FS-CommonContent-Date-22_2) | 14 |
| [Statement of Changes in Net Assets](#xx_9e90c766-d921-498e-a2ef-f2465bf88d9c_FS-CommonContent-Date-22_3) | 15 |
| [Financial Highlights](#xx_9e90c766-d921-498e-a2ef-f2465bf88d9c_FIHI-CommonContent-Date-22_1) | 16 |
| [Notes to Financial Statements](#xx_9e90c766-d921-498e-a2ef-f2465bf88d9c_NTF-CommonContent-Date-22_1) | 18 |

---

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency 31.7%** | **Asset-Backed Securities - Non-Agency 31.7%** | **Asset-Backed Securities - Non-Agency 31.7%** | **Asset-Backed Securities - Non-Agency 31.7%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| ACHV ABS Trust<sup>(a)</sup>  | ACHV ABS Trust<sup>(a)</sup>  | ACHV ABS Trust<sup>(a)</sup>  | ACHV ABS Trust<sup>(a)</sup>  |
| Series 2024-1PL Class A | Series 2024-1PL Class A | Series 2024-1PL Class A | Series 2024-1PL Class A |
| 04/25/2031 | &nbsp;&nbsp; 5.900% | 135669 | &nbsp;&nbsp; 136288 |
| Series 2024-2PL Class A | Series 2024-2PL Class A | Series 2024-2PL Class A | Series 2024-2PL Class A |
| 10/27/2031 | &nbsp;&nbsp; 5.070% | 2006216 | &nbsp;&nbsp; 2017062 |
| Subordinated Series 2024-1PL Class B | Subordinated Series 2024-1PL Class B | Subordinated Series 2024-1PL Class B | Subordinated Series 2024-1PL Class B |
| 04/25/2031 | &nbsp;&nbsp; 6.340% | 290433 | &nbsp;&nbsp; 293862 |
| ACM Auto Trust<sup>(a)</sup>  | ACM Auto Trust<sup>(a)</sup>  | ACM Auto Trust<sup>(a)</sup>  | ACM Auto Trust<sup>(a)</sup>  |
| Series 2024-2A Class A | Series 2024-2A Class A | Series 2024-2A Class A | Series 2024-2A Class A |
| 02/20/2029 | &nbsp;&nbsp; 6.060% | 287662 | &nbsp;&nbsp; 287693 |
| Affirm Asset Securitization Trust<sup>(a)</sup>  | Affirm Asset Securitization Trust<sup>(a)</sup>  | Affirm Asset Securitization Trust<sup>(a)</sup>  | Affirm Asset Securitization Trust<sup>(a)</sup>  |
| Series 2024-X2 Class A | Series 2024-X2 Class A | Series 2024-X2 Class A | Series 2024-X2 Class A |
| 12/17/2029 | &nbsp;&nbsp; 5.220% | 47212 | &nbsp;&nbsp; 47230 |
| American Credit Acceptance Receivables Trust<sup>(a)</sup>  | American Credit Acceptance Receivables Trust<sup>(a)</sup>  | American Credit Acceptance Receivables Trust<sup>(a)</sup>  | American Credit Acceptance Receivables Trust<sup>(a)</sup>  |
| Series 2022-4 Class D | Series 2022-4 Class D | Series 2022-4 Class D | Series 2022-4 Class D |
| 02/15/2029 | &nbsp;&nbsp; 8.000% | 4844609 | &nbsp;&nbsp; 4884146 |
| Avtech Equipment Receivables Funding LLC<sup>(a),(b),(c)</sup>  | Avtech Equipment Receivables Funding LLC<sup>(a),(b),(c)</sup>  | Avtech Equipment Receivables Funding LLC<sup>(a),(b),(c)</sup>  | Avtech Equipment Receivables Funding LLC<sup>(a),(b),(c)</sup>  |
| Series 2026-1A Class A | Series 2026-1A Class A | Series 2026-1A Class A | Series 2026-1A Class A |
| 02/15/2033 | &nbsp;&nbsp; 0.000% | 4500000 | &nbsp;&nbsp; 4499619 |
| BMW Vehicle Lease Trust | BMW Vehicle Lease Trust | BMW Vehicle Lease Trust | BMW Vehicle Lease Trust |
| Series 2024-1 Class A4 | Series 2024-1 Class A4 | Series 2024-1 Class A4 | Series 2024-1 Class A4 |
| 06/25/2027 | &nbsp;&nbsp; 5.000% | 11300000 | &nbsp;&nbsp; 11355818 |
| Carmax Auto Owner Trust | Carmax Auto Owner Trust | Carmax Auto Owner Trust | Carmax Auto Owner Trust |
| Series 2023-3 Class A3 | Series 2023-3 Class A3 | Series 2023-3 Class A3 | Series 2023-3 Class A3 |
| 05/15/2028 | &nbsp;&nbsp; 5.280% | 12092076 | &nbsp;&nbsp; 12174888 |
| CarMax Auto Owner Trust | CarMax Auto Owner Trust | CarMax Auto Owner Trust | CarMax Auto Owner Trust |
| Series 2023-1 Class A4 | Series 2023-1 Class A4 | Series 2023-1 Class A4 | Series 2023-1 Class A4 |
| 01/16/2029 | &nbsp;&nbsp; 4.650% | 8300000 | &nbsp;&nbsp; 8347684 |
| Carmax Select Receivables Trust | Carmax Select Receivables Trust | Carmax Select Receivables Trust | Carmax Select Receivables Trust |
| Series 2024-A Class A2A | Series 2024-A Class A2A | Series 2024-A Class A2A | Series 2024-A Class A2A |
| 09/15/2027 | &nbsp;&nbsp; 5.780% | 403089 | &nbsp;&nbsp; 403639 |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
| Series 2021-N1 Class A | Series 2021-N1 Class A | Series 2021-N1 Class A | Series 2021-N1 Class A |
| 01/10/2028 | &nbsp;&nbsp; 0.700% | 617995 | &nbsp;&nbsp; 612259 |
| Series 2024-P4 Class A3 | Series 2024-P4 Class A3 | Series 2024-P4 Class A3 | Series 2024-P4 Class A3 |
| 01/10/2030 | &nbsp;&nbsp; 4.640% | 2450000 | &nbsp;&nbsp; 2465327 |
| Carvana Auto Receivables Trust<sup>(a)</sup>  | Carvana Auto Receivables Trust<sup>(a)</sup>  | Carvana Auto Receivables Trust<sup>(a)</sup>  | Carvana Auto Receivables Trust<sup>(a)</sup>  |
| Series 2024-N2 Class A3 | Series 2024-N2 Class A3 | Series 2024-N2 Class A3 | Series 2024-N2 Class A3 |
| 07/10/2028 | &nbsp;&nbsp; 5.710% | 2264895 | &nbsp;&nbsp; 2272721 |
| Series 2024-N3 Class A2 | Series 2024-N3 Class A2 | Series 2024-N3 Class A2 | Series 2024-N3 Class A2 |
| 12/10/2027 | &nbsp;&nbsp; 4.840% | 564168 | &nbsp;&nbsp; 564268 |
| CNH Equipment Trust | CNH Equipment Trust | CNH Equipment Trust | CNH Equipment Trust |
| Series 2024-C Class A2A | Series 2024-C Class A2A | Series 2024-C Class A2A | Series 2024-C Class A2A |
| 02/18/2028 | &nbsp;&nbsp; 4.300% | 2210558 | &nbsp;&nbsp; 2213047 |
| Series 2024-C Class A3 | Series 2024-C Class A3 | Series 2024-C Class A3 | Series 2024-C Class A3 |
| 01/15/2030 | &nbsp;&nbsp; 4.030% | 6253000 | &nbsp;&nbsp; 6276047 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| DailyPay Securitization Trust<sup>(a)</sup>  | DailyPay Securitization Trust<sup>(a)</sup>  | DailyPay Securitization Trust<sup>(a)</sup>  | DailyPay Securitization Trust<sup>(a)</sup>  |
| Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A |
| 06/25/2028 | &nbsp;&nbsp; 5.630% | 1725000 | &nbsp;&nbsp; 1735562 |
| Enterprise Fleet Financing LLC<sup>(a)</sup>  | Enterprise Fleet Financing LLC<sup>(a)</sup>  | Enterprise Fleet Financing LLC<sup>(a)</sup>  | Enterprise Fleet Financing LLC<sup>(a)</sup>  |
| Series 2024-1 Class A2 | Series 2024-1 Class A2 | Series 2024-1 Class A2 | Series 2024-1 Class A2 |
| 03/20/2030 | &nbsp;&nbsp; 5.230% | 4874480 | &nbsp;&nbsp; 4910668 |
| Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| Subordinated Series 2021-2 Class D | Subordinated Series 2021-2 Class D | Subordinated Series 2021-2 Class D | Subordinated Series 2021-2 Class D |
| 04/15/2027 | &nbsp;&nbsp; 1.400% | 2286185 | &nbsp;&nbsp; 2281522 |
| Ford Credit Auto Lease Trust | Ford Credit Auto Lease Trust | Ford Credit Auto Lease Trust | Ford Credit Auto Lease Trust |
| Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 |
| 05/15/2027 | &nbsp;&nbsp; 5.060% | 5723716 | &nbsp;&nbsp; 5733707 |
| Series 2024-A Class A4 | Series 2024-A Class A4 | Series 2024-A Class A4 | Series 2024-A Class A4 |
| 06/15/2027 | &nbsp;&nbsp; 5.050% | 370000 | &nbsp;&nbsp; 371421 |
| Series 2025-A Class A3 | Series 2025-A Class A3 | Series 2025-A Class A3 | Series 2025-A Class A3 |
| 06/15/2028 | &nbsp;&nbsp; 4.720% | 6825000 | &nbsp;&nbsp; 6887377 |
| Ford Credit Auto Owner Trust<sup>(a)</sup>  | Ford Credit Auto Owner Trust<sup>(a)</sup>  | Ford Credit Auto Owner Trust<sup>(a)</sup>  | Ford Credit Auto Owner Trust<sup>(a)</sup>  |
| Series 2021-2 Class A | Series 2021-2 Class A | Series 2021-2 Class A | Series 2021-2 Class A |
| 05/15/2034 | &nbsp;&nbsp; 1.530% | 14784000 | &nbsp;&nbsp; 14520456 |
| Series 2022-1 Class A | Series 2022-1 Class A | Series 2022-1 Class A | Series 2022-1 Class A |
| 11/15/2034 | &nbsp;&nbsp; 3.880% | 26768000 | &nbsp;&nbsp; 26786962 |
| Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust |
| Series 2024-C Class A2A | Series 2024-C Class A2A | Series 2024-C Class A2A | Series 2024-C Class A2A |
| 08/15/2027 | &nbsp;&nbsp; 4.320% | 790582 | &nbsp;&nbsp; 791248 |
| Ford Credit Floorplan Master Owner Trust<sup>(a)</sup>  | Ford Credit Floorplan Master Owner Trust<sup>(a)</sup>  | Ford Credit Floorplan Master Owner Trust<sup>(a)</sup>  | Ford Credit Floorplan Master Owner Trust<sup>(a)</sup>  |
| Series 2023-1 Class A1 | Series 2023-1 Class A1 | Series 2023-1 Class A1 | Series 2023-1 Class A1 |
| 05/15/2028 | &nbsp;&nbsp; 4.920% | 21968000 | &nbsp;&nbsp; 22037614 |
| GLS Auto Receivables Issuer Trust<sup>(a)</sup>  | GLS Auto Receivables Issuer Trust<sup>(a)</sup>  | GLS Auto Receivables Issuer Trust<sup>(a)</sup>  | GLS Auto Receivables Issuer Trust<sup>(a)</sup>  |
| Series 2024-2A Class A3 | Series 2024-2A Class A3 | Series 2024-2A Class A3 | Series 2024-2A Class A3 |
| 01/18/2028 | &nbsp;&nbsp; 5.640% | 271403 | &nbsp;&nbsp; 271556 |
| GLS Auto Select Receivables Trust<sup>(a)</sup>  | GLS Auto Select Receivables Trust<sup>(a)</sup>  | GLS Auto Select Receivables Trust<sup>(a)</sup>  | GLS Auto Select Receivables Trust<sup>(a)</sup>  |
| Series 2024-2A Class A2 | Series 2024-2A Class A2 | Series 2024-2A Class A2 | Series 2024-2A Class A2 |
| 06/17/2030 | &nbsp;&nbsp; 5.580% | 4017882 | &nbsp;&nbsp; 4059145 |
| GMF Floorplan Owner Revolving Trust<sup>(a)</sup>  | GMF Floorplan Owner Revolving Trust<sup>(a)</sup>  | GMF Floorplan Owner Revolving Trust<sup>(a)</sup>  | GMF Floorplan Owner Revolving Trust<sup>(a)</sup>  |
| Series 2023-1 Class A1 | Series 2023-1 Class A1 | Series 2023-1 Class A1 | Series 2023-1 Class A1 |
| 06/15/2028 | &nbsp;&nbsp; 5.340% | 20106000 | &nbsp;&nbsp; 20213905 |
| Series 2024-1A Class A1 | Series 2024-1A Class A1 | Series 2024-1A Class A1 | Series 2024-1A Class A1 |
| 03/15/2029 | &nbsp;&nbsp; 5.130% | 27547000 | &nbsp;&nbsp; 27939043 |
| GreenSky Home Improvement Issuer Trust<sup>(a)</sup>  | GreenSky Home Improvement Issuer Trust<sup>(a)</sup>  | GreenSky Home Improvement Issuer Trust<sup>(a)</sup>  | GreenSky Home Improvement Issuer Trust<sup>(a)</sup>  |
| Series 2024-2 Class A2 | Series 2024-2 Class A2 | Series 2024-2 Class A2 | Series 2024-2 Class A2 |
| 10/27/2059 | &nbsp;&nbsp; 5.250% | 550220 | &nbsp;&nbsp; 552028 |
| Series 2025-1A Class A2 | Series 2025-1A Class A2 | Series 2025-1A Class A2 | Series 2025-1A Class A2 |
| 03/25/2060 | &nbsp;&nbsp; 5.120% | 2143712 | &nbsp;&nbsp; 2152824 |
| Series 2025-2 Class A2 | Series 2025-2 Class A2 | Series 2025-2 Class A2 | Series 2025-2 Class A2 |
| 06/25/2060 | &nbsp;&nbsp; 4.930% | 1135141 | &nbsp;&nbsp; 1139304 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Harley-Davidson Motorcycle Trust | Harley-Davidson Motorcycle Trust | Harley-Davidson Motorcycle Trust | Harley-Davidson Motorcycle Trust |
| Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 |
| 03/15/2029 | &nbsp;&nbsp; 5.370% | 1560596 | &nbsp;&nbsp; 1576780 |
| Subordinated Series 2024-B Class A2 | Subordinated Series 2024-B Class A2 | Subordinated Series 2024-B Class A2 | Subordinated Series 2024-B Class A2 |
| 08/16/2027 | &nbsp;&nbsp; 4.620% | 184866 | &nbsp;&nbsp; 184919 |
| Hyundai Auto Lease Securitization Trust<sup>(a)</sup>  | Hyundai Auto Lease Securitization Trust<sup>(a)</sup>  | Hyundai Auto Lease Securitization Trust<sup>(a)</sup>  | Hyundai Auto Lease Securitization Trust<sup>(a)</sup>  |
| Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 |
| 03/15/2027 | &nbsp;&nbsp; 5.020% | 8106074 | &nbsp;&nbsp; 8120707 |
| Series 2024-C Class A3 | Series 2024-C Class A3 | Series 2024-C Class A3 | Series 2024-C Class A3 |
| 04/17/2028 | &nbsp;&nbsp; 4.620% | 13725000 | &nbsp;&nbsp; 13809274 |
| Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust | Hyundai Auto Receivables Trust |
| Series 2025-B Class A2A | Series 2025-B Class A2A | Series 2025-B Class A2A | Series 2025-B Class A2A |
| 08/15/2028 | &nbsp;&nbsp; 4.450% | 1040650 | &nbsp;&nbsp; 1044093 |
| Kubota Credit Owner Trust<sup>(a)</sup>  | Kubota Credit Owner Trust<sup>(a)</sup>  | Kubota Credit Owner Trust<sup>(a)</sup>  | Kubota Credit Owner Trust<sup>(a)</sup>  |
| Series 2024-1A Class A3 | Series 2024-1A Class A3 | Series 2024-1A Class A3 | Series 2024-1A Class A3 |
| 07/17/2028 | &nbsp;&nbsp; 5.190% | 5150000 | &nbsp;&nbsp; 5206290 |
| Series 2024-2A Class A2 | Series 2024-2A Class A2 | Series 2024-2A Class A2 | Series 2024-2A Class A2 |
| 04/15/2027 | &nbsp;&nbsp; 5.450% | 1552490 | &nbsp;&nbsp; 1556902 |
| Series 2024-2A Class A3 | Series 2024-2A Class A3 | Series 2024-2A Class A3 | Series 2024-2A Class A3 |
| 11/15/2028 | &nbsp;&nbsp; 5.260% | 11000000 | &nbsp;&nbsp; 11173347 |
| Marlette Funding Trust<sup>(a)</sup>  | Marlette Funding Trust<sup>(a)</sup>  | Marlette Funding Trust<sup>(a)</sup>  | Marlette Funding Trust<sup>(a)</sup>  |
| Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A |
| 07/16/2035 | &nbsp;&nbsp; 4.750% | 1787115 | &nbsp;&nbsp; 1790084 |
| Mercedes-Benz Auto Receivables Trust | Mercedes-Benz Auto Receivables Trust | Mercedes-Benz Auto Receivables Trust | Mercedes-Benz Auto Receivables Trust |
| Series 2023-2 Class A3 | Series 2023-2 Class A3 | Series 2023-2 Class A3 | Series 2023-2 Class A3 |
| 11/15/2028 | &nbsp;&nbsp; 5.950% | 3806634 | &nbsp;&nbsp; 3855397 |
| NextGear Floorplan Master Owner Trust<sup>(a)</sup>  | NextGear Floorplan Master Owner Trust<sup>(a)</sup>  | NextGear Floorplan Master Owner Trust<sup>(a)</sup>  | NextGear Floorplan Master Owner Trust<sup>(a)</sup>  |
| Series 2023-1A Class A2 | Series 2023-1A Class A2 | Series 2023-1A Class A2 | Series 2023-1A Class A2 |
| 03/15/2028 | &nbsp;&nbsp; 5.740% | 10000000 | &nbsp;&nbsp; 10020121 |
| Nissan Auto Receivables Owner Trust | Nissan Auto Receivables Owner Trust | Nissan Auto Receivables Owner Trust | Nissan Auto Receivables Owner Trust |
| Series 2025-A Class A2A | Series 2025-A Class A2A | Series 2025-A Class A2A | Series 2025-A Class A2A |
| 02/15/2028 | &nbsp;&nbsp; 4.500% | 9417150 | &nbsp;&nbsp; 9443402 |
| Nissan Master Owner Trust Receivables<sup>(a)</sup>  | Nissan Master Owner Trust Receivables<sup>(a)</sup>  | Nissan Master Owner Trust Receivables<sup>(a)</sup>  | Nissan Master Owner Trust Receivables<sup>(a)</sup>  |
| Series 2024-B Class A | Series 2024-B Class A | Series 2024-B Class A | Series 2024-B Class A |
| 02/15/2029 | &nbsp;&nbsp; 5.050% | 26257000 | &nbsp;&nbsp; 26577073 |
| Oportun Funding Trust<sup>(a)</sup>  | Oportun Funding Trust<sup>(a)</sup>  | Oportun Funding Trust<sup>(a)</sup>  | Oportun Funding Trust<sup>(a)</sup>  |
| Series 2024-3 Class A | Series 2024-3 Class A | Series 2024-3 Class A | Series 2024-3 Class A |
| 08/15/2029 | &nbsp;&nbsp; 5.260% | 17198 | &nbsp;&nbsp; 17202 |
| Pagaya AI Debt Grantor Trust<sup>(a)</sup>  | Pagaya AI Debt Grantor Trust<sup>(a)</sup>  | Pagaya AI Debt Grantor Trust<sup>(a)</sup>  | Pagaya AI Debt Grantor Trust<sup>(a)</sup>  |
| Series 2024-11 Class A | Series 2024-11 Class A | Series 2024-11 Class A | Series 2024-11 Class A |
| 07/15/2032 | &nbsp;&nbsp; 5.092% | 2913160 | &nbsp;&nbsp; 2928480 |
| Series 2024-5 Class A | Series 2024-5 Class A | Series 2024-5 Class A | Series 2024-5 Class A |
| 10/15/2031 | &nbsp;&nbsp; 6.278% | 507355 | &nbsp;&nbsp; 510117 |
| Series 2024-6 Class A | Series 2024-6 Class A | Series 2024-6 Class A | Series 2024-6 Class A |
| 11/15/2031 | &nbsp;&nbsp; 6.093% | 480674 | &nbsp;&nbsp; 482758 |
| Series 2025-1 Class A2 | Series 2025-1 Class A2 | Series 2025-1 Class A2 | Series 2025-1 Class A2 |
| 07/15/2032 | &nbsp;&nbsp; 5.156% | 1460069 | &nbsp;&nbsp; 1471148 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Pagaya AI Debt Selection Trust<sup>(a)</sup>  | Pagaya AI Debt Selection Trust<sup>(a)</sup>  | Pagaya AI Debt Selection Trust<sup>(a)</sup>  | Pagaya AI Debt Selection Trust<sup>(a)</sup>  |
| Series 2024-7 Class A | Series 2024-7 Class A | Series 2024-7 Class A | Series 2024-7 Class A |
| 12/15/2031 | &nbsp;&nbsp; 6.117% | 2394729 | &nbsp;&nbsp; 2407860 |
| Subordinated Series 2024-7 Class B | Subordinated Series 2024-7 Class B | Subordinated Series 2024-7 Class B | Subordinated Series 2024-7 Class B |
| 12/15/2031 | &nbsp;&nbsp; 6.574% | 2669670 | &nbsp;&nbsp; 2688133 |
| Pagaya AI Debt Trust<sup>(a)</sup>  | Pagaya AI Debt Trust<sup>(a)</sup>  | Pagaya AI Debt Trust<sup>(a)</sup>  | Pagaya AI Debt Trust<sup>(a)</sup>  |
| Series 2024-1 Class A | Series 2024-1 Class A | Series 2024-1 Class A | Series 2024-1 Class A |
| 07/15/2031 | &nbsp;&nbsp; 6.660% | 754090 | &nbsp;&nbsp; 760375 |
| Series 2024-2 Class A | Series 2024-2 Class A | Series 2024-2 Class A | Series 2024-2 Class A |
| 08/15/2031 | &nbsp;&nbsp; 6.319% | 1454607 | &nbsp;&nbsp; 1460754 |
| Series 2024-3 Class A | Series 2024-3 Class A | Series 2024-3 Class A | Series 2024-3 Class A |
| 10/15/2031 | &nbsp;&nbsp; 6.258% | 1823824 | &nbsp;&nbsp; 1833791 |
| PEAC Solutions Receivables LLC<sup>(a)</sup>  | PEAC Solutions Receivables LLC<sup>(a)</sup>  | PEAC Solutions Receivables LLC<sup>(a)</sup>  | PEAC Solutions Receivables LLC<sup>(a)</sup>  |
| Series 2024-1A Class A2 | Series 2024-1A Class A2 | Series 2024-1A Class A2 | Series 2024-1A Class A2 |
| 06/21/2027 | &nbsp;&nbsp; 5.790% | 1829233 | &nbsp;&nbsp; 1841243 |
| Series 2024-2A Class A2 | Series 2024-2A Class A2 | Series 2024-2A Class A2 | Series 2024-2A Class A2 |
| 04/20/2027 | &nbsp;&nbsp; 4.740% | 2025691 | &nbsp;&nbsp; 2029956 |
| RCKT Trust<sup>(a)</sup>  | RCKT Trust<sup>(a)</sup>  | RCKT Trust<sup>(a)</sup>  | RCKT Trust<sup>(a)</sup>  |
| Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A |
| 07/25/2034 | &nbsp;&nbsp; 4.900% | 6884550 | &nbsp;&nbsp; 6899357 |
| Reach ABS Trust<sup>(a)</sup>  | Reach ABS Trust<sup>(a)</sup>  | Reach ABS Trust<sup>(a)</sup>  | Reach ABS Trust<sup>(a)</sup>  |
| Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A |
| 08/16/2032 | &nbsp;&nbsp; 4.960% | 1528809 | &nbsp;&nbsp; 1533041 |
| Series 2025-2A Class A | Series 2025-2A Class A | Series 2025-2A Class A | Series 2025-2A Class A |
| 08/18/2032 | &nbsp;&nbsp; 4.930% | 3041853 | &nbsp;&nbsp; 3057941 |
| Research-Driven Pagaya Motor Asset Trust<sup>(a)</sup>  | Research-Driven Pagaya Motor Asset Trust<sup>(a)</sup>  | Research-Driven Pagaya Motor Asset Trust<sup>(a)</sup>  | Research-Driven Pagaya Motor Asset Trust<sup>(a)</sup>  |
| Series 2025-4A Class A2 | Series 2025-4A Class A2 | Series 2025-4A Class A2 | Series 2025-4A Class A2 |
| 04/25/2034 | &nbsp;&nbsp; 5.124% | 2600000 | &nbsp;&nbsp; 2612175 |
| Research-Driven Pagaya Motor Trust<sup>(a)</sup>  | Research-Driven Pagaya Motor Trust<sup>(a)</sup>  | Research-Driven Pagaya Motor Trust<sup>(a)</sup>  | Research-Driven Pagaya Motor Trust<sup>(a)</sup>  |
| Series 2024-1A Class A | Series 2024-1A Class A | Series 2024-1A Class A | Series 2024-1A Class A |
| 06/25/2032 | &nbsp;&nbsp; 7.090% | 370717 | &nbsp;&nbsp; 371849 |
| Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust |
| Series 2024-1 Class A3 | Series 2024-1 Class A3 | Series 2024-1 Class A3 | Series 2024-1 Class A3 |
| 04/17/2028 | &nbsp;&nbsp; 5.250% | 976336 | &nbsp;&nbsp; 976871 |
| Series 2025-4 Class A2 | Series 2025-4 Class A2 | Series 2025-4 Class A2 | Series 2025-4 Class A2 |
| 01/15/2029 | &nbsp;&nbsp; 4.280% | 9000000 | &nbsp;&nbsp; 9018354 |
| SBNA Auto Lease Trust<sup>(a)</sup>  | SBNA Auto Lease Trust<sup>(a)</sup>  | SBNA Auto Lease Trust<sup>(a)</sup>  | SBNA Auto Lease Trust<sup>(a)</sup>  |
| Series 2023-A Class A3 | Series 2023-A Class A3 | Series 2023-A Class A3 | Series 2023-A Class A3 |
| 04/20/2027 | &nbsp;&nbsp; 6.510% | 1427153 | &nbsp;&nbsp; 1431092 |
| Series 2024-A Class A4 | Series 2024-A Class A4 | Series 2024-A Class A4 | Series 2024-A Class A4 |
| 01/22/2029 | &nbsp;&nbsp; 5.240% | 7550000 | &nbsp;&nbsp; 7577934 |
| SCF Equipment Leasing<sup>(a)</sup>  | SCF Equipment Leasing<sup>(a)</sup>  | SCF Equipment Leasing<sup>(a)</sup>  | SCF Equipment Leasing<sup>(a)</sup>  |
| Series 2024-1A Class A2 | Series 2024-1A Class A2 | Series 2024-1A Class A2 | Series 2024-1A Class A2 |
| 11/20/2029 | &nbsp;&nbsp; 5.880% | 881949 | &nbsp;&nbsp; 884596 |
| SoFi Consumer Loan Program Trust<sup>(a)</sup>  | SoFi Consumer Loan Program Trust<sup>(a)</sup>  | SoFi Consumer Loan Program Trust<sup>(a)</sup>  | SoFi Consumer Loan Program Trust<sup>(a)</sup>  |
| Series 2025-1 Class A | Series 2025-1 Class A | Series 2025-1 Class A | Series 2025-1 Class A |
| 02/27/2034 | &nbsp;&nbsp; 4.800% | 4235533 | &nbsp;&nbsp; 4249314 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Series 2025-2 Class A | Series 2025-2 Class A | Series 2025-2 Class A | Series 2025-2 Class A |
| 06/25/2034 | &nbsp;&nbsp; 4.820% | 12753840 | &nbsp;&nbsp; 12804379 |
| Series 2025-4 Class A | Series 2025-4 Class A | Series 2025-4 Class A | Series 2025-4 Class A |
| 08/25/2035 | &nbsp;&nbsp; 4.240% | 7343015 | &nbsp;&nbsp; 7354597 |
| Series 2026-1 Class A | Series 2026-1 Class A | Series 2026-1 Class A | Series 2026-1 Class A |
| 12/26/2035 | &nbsp;&nbsp; 4.370% | 13556000 | &nbsp;&nbsp; 13567439 |
| Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust | Toyota Auto Receivables Owner Trust |
| Series 2023-A Class A3 | Series 2023-A Class A3 | Series 2023-A Class A3 | Series 2023-A Class A3 |
| 09/15/2027 | &nbsp;&nbsp; 4.630% | 2221562 | &nbsp;&nbsp; 2225887 |
| Upgrade Master Pass-Thru Trust<sup>(a)</sup>  | Upgrade Master Pass-Thru Trust<sup>(a)</sup>  | Upgrade Master Pass-Thru Trust<sup>(a)</sup>  | Upgrade Master Pass-Thru Trust<sup>(a)</sup>  |
| Series 2025-ST5 Class A | Series 2025-ST5 Class A | Series 2025-ST5 Class A | Series 2025-ST5 Class A |
| 09/15/2032 | &nbsp;&nbsp; 4.794% | 5099465 | &nbsp;&nbsp; 5112327 |
| Series 2025-ST6 Class A | Series 2025-ST6 Class A | Series 2025-ST6 Class A | Series 2025-ST6 Class A |
| 10/15/2032 | &nbsp;&nbsp; 4.611% | 2913724 | &nbsp;&nbsp; 2919049 |
| Upgrade Master Pass-Thru Trust Series<sup>(a)</sup>  | Upgrade Master Pass-Thru Trust Series<sup>(a)</sup>  | Upgrade Master Pass-Thru Trust Series<sup>(a)</sup>  | Upgrade Master Pass-Thru Trust Series<sup>(a)</sup>  |
| Series 2025-ST8 Class A | Series 2025-ST8 Class A | Series 2025-ST8 Class A | Series 2025-ST8 Class A |
| 12/15/2033 | &nbsp;&nbsp; 4.618% | 12176553 | &nbsp;&nbsp; 12188468 |
| Upstart Securitization Trust<sup>(a)</sup>  | Upstart Securitization Trust<sup>(a)</sup>  | Upstart Securitization Trust<sup>(a)</sup>  | Upstart Securitization Trust<sup>(a)</sup>  |
| Series 2024-1 Class A | Series 2024-1 Class A | Series 2024-1 Class A | Series 2024-1 Class A |
| 11/20/2034 | &nbsp;&nbsp; 5.330% | 381211 | &nbsp;&nbsp; 381784 |
| Series 2025-2 Class A2 | Series 2025-2 Class A2 | Series 2025-2 Class A2 | Series 2025-2 Class A2 |
| 06/20/2035 | &nbsp;&nbsp; 5.220% | 4213184 | &nbsp;&nbsp; 4232693 |
| Series 2025-3 Class A2 | Series 2025-3 Class A2 | Series 2025-3 Class A2 | Series 2025-3 Class A2 |
| 09/20/2035 | &nbsp;&nbsp; 4.600% | 10700000 | &nbsp;&nbsp; 10717430 |
| Series 2025-4 Class A1 | Series 2025-4 Class A1 | Series 2025-4 Class A1 | Series 2025-4 Class A1 |
| 11/20/2026 | &nbsp;&nbsp; 4.344% | 2833317 | &nbsp;&nbsp; 2833922 |
| Verizon Master Trust | Verizon Master Trust | Verizon Master Trust | Verizon Master Trust |
| Series 2024-8 Class A1A | Series 2024-8 Class A1A | Series 2024-8 Class A1A | Series 2024-8 Class A1A |
| 11/20/2030 | &nbsp;&nbsp; 4.620% | 8040000 | &nbsp;&nbsp; 8150684 |
| Volkswagen Auto Lease Trust | Volkswagen Auto Lease Trust | Volkswagen Auto Lease Trust | Volkswagen Auto Lease Trust |
| Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 | Series 2024-A Class A3 |
| 06/21/2027 | &nbsp;&nbsp; 5.210% | 22416000 | &nbsp;&nbsp; 22539355 |
| Series 2024-A Class A4 | Series 2024-A Class A4 | Series 2024-A Class A4 | Series 2024-A Class A4 |
| 12/20/2028 | &nbsp;&nbsp; 5.200% | 1245000 | &nbsp;&nbsp; 1256408 |
| Volkswagen Auto Loan Enhanced Trust | Volkswagen Auto Loan Enhanced Trust | Volkswagen Auto Loan Enhanced Trust | Volkswagen Auto Loan Enhanced Trust |
| Series 2024-1 Class A2A | Series 2024-1 Class A2A | Series 2024-1 Class A2A | Series 2024-1 Class A2A |
| 11/22/2027 | &nbsp;&nbsp; 4.650% | 5721953 | &nbsp;&nbsp; 5736431 |
| Volvo Financial Equipment LLC<sup>(a)</sup>  | Volvo Financial Equipment LLC<sup>(a)</sup>  | Volvo Financial Equipment LLC<sup>(a)</sup>  | Volvo Financial Equipment LLC<sup>(a)</sup>  |
| Series 2024-1A Class A2 | Series 2024-1A Class A2 | Series 2024-1A Class A2 | Series 2024-1A Class A2 |
| 05/17/2027 | &nbsp;&nbsp; 4.560% | 1763094 | &nbsp;&nbsp; 1764956 |
| Westlake Automobile Receivables Trust<sup>(a)</sup>  | Westlake Automobile Receivables Trust<sup>(a)</sup>  | Westlake Automobile Receivables Trust<sup>(a)</sup>  | Westlake Automobile Receivables Trust<sup>(a)</sup>  |
| Series 2024-2A Class A2A | Series 2024-2A Class A2A | Series 2024-2A Class A2A | Series 2024-2A Class A2A |
| 08/16/2027 | &nbsp;&nbsp; 5.750% | 325039 | &nbsp;&nbsp; 325284 |
| Westlake Flooring Master Trust<sup>(a)</sup>  | Westlake Flooring Master Trust<sup>(a)</sup>  | Westlake Flooring Master Trust<sup>(a)</sup>  | Westlake Flooring Master Trust<sup>(a)</sup>  |
| Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A | Series 2025-1A Class A |
| 10/15/2029 | &nbsp;&nbsp; 4.230% | 6000000 | &nbsp;&nbsp; 6017701 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** | **Asset-Backed Securities - Non-Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| WF Card Issuance Trust | WF Card Issuance Trust | WF Card Issuance Trust | WF Card Issuance Trust |
| Series 2024-A1 Class A | Series 2024-A1 Class A | Series 2024-A1 Class A | Series 2024-A1 Class A |
| 02/15/2029 | &nbsp;&nbsp; 4.940% | 12750000 | &nbsp;&nbsp; 12910526 |
| Total Asset-Backed Securities — Non-Agency <br>(Cost $484,701,397) | Total Asset-Backed Securities — Non-Agency <br>(Cost $484,701,397) | Total Asset-Backed Securities — Non-Agency <br>(Cost $484,701,397) | &nbsp;&nbsp; **485677990** |
| **Commercial Mortgage-Backed Securities - Non-Agency 7.0%** | **Commercial Mortgage-Backed Securities - Non-Agency 7.0%** | **Commercial Mortgage-Backed Securities - Non-Agency 7.0%** | **Commercial Mortgage-Backed Securities - Non-Agency 7.0%** |
| BANK | BANK | BANK | BANK |
| Series 2017-BNK5 Class A4 | Series 2017-BNK5 Class A4 | Series 2017-BNK5 Class A4 | Series 2017-BNK5 Class A4 |
| 06/15/2060 | &nbsp;&nbsp; 3.131% | 10329172 | &nbsp;&nbsp; 10218179 |
| Series 2019-BNK18 Class ASB | Series 2019-BNK18 Class ASB | Series 2019-BNK18 Class ASB | Series 2019-BNK18 Class ASB |
| 05/15/2062 | &nbsp;&nbsp; 3.432% | 5579913 | &nbsp;&nbsp; 5528139 |
| Bank of America Merrill Lynch Commercial Mortgage Trust | Bank of America Merrill Lynch Commercial Mortgage Trust | Bank of America Merrill Lynch Commercial Mortgage Trust | Bank of America Merrill Lynch Commercial Mortgage Trust |
| Series 2017-BNK3 Class A3 | Series 2017-BNK3 Class A3 | Series 2017-BNK3 Class A3 | Series 2017-BNK3 Class A3 |
| 02/15/2050 | &nbsp;&nbsp; 3.311% | 8617594 | &nbsp;&nbsp; 8559401 |
| Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| Series 2018-B3 Class A4 | Series 2018-B3 Class A4 | Series 2018-B3 Class A4 | Series 2018-B3 Class A4 |
| 04/10/2051 | &nbsp;&nbsp; 3.761% | 1214438 | &nbsp;&nbsp; 1207495 |
| Series 2019-B13 Class ASB | Series 2019-B13 Class ASB | Series 2019-B13 Class ASB | Series 2019-B13 Class ASB |
| 08/15/2057 | &nbsp;&nbsp; 2.888% | 4700283 | &nbsp;&nbsp; 4606431 |
| CD Mortgage Trust | CD Mortgage Trust | CD Mortgage Trust | CD Mortgage Trust |
| Series 2017-CD4 Class ASB | Series 2017-CD4 Class ASB | Series 2017-CD4 Class ASB | Series 2017-CD4 Class ASB |
| 05/10/2050 | &nbsp;&nbsp; 3.317% | 3266647 | &nbsp;&nbsp; 3249723 |
| Series 2017-CD6 Class ASB | Series 2017-CD6 Class ASB | Series 2017-CD6 Class ASB | Series 2017-CD6 Class ASB |
| 11/13/2050 | &nbsp;&nbsp; 3.332% | 3017879 | &nbsp;&nbsp; 2998090 |
| CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| Series 2017-C8 Class ASB | Series 2017-C8 Class ASB | Series 2017-C8 Class ASB | Series 2017-C8 Class ASB |
| 06/15/2050 | &nbsp;&nbsp; 3.367% | 420702 | &nbsp;&nbsp; 419485 |
| Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| Series 2016-C1 Class A3 | Series 2016-C1 Class A3 | Series 2016-C1 Class A3 | Series 2016-C1 Class A3 |
| 05/10/2049 | &nbsp;&nbsp; 2.944% | 367088 | &nbsp;&nbsp; 366635 |
| CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| Series 2019-C18 Class ASB | Series 2019-C18 Class ASB | Series 2019-C18 Class ASB | Series 2019-C18 Class ASB |
| 12/15/2052 | &nbsp;&nbsp; 2.868% | 5226822 | &nbsp;&nbsp; 5120015 |
| DBJPM Mortgage Trust | DBJPM Mortgage Trust | DBJPM Mortgage Trust | DBJPM Mortgage Trust |
| Series 2016-C3 Class A5 | Series 2016-C3 Class A5 | Series 2016-C3 Class A5 | Series 2016-C3 Class A5 |
| 08/10/2049 | &nbsp;&nbsp; 2.890% | 6668000 | &nbsp;&nbsp; 6624955 |
| GS Mortgage Securities Corp. II<sup>(a),(d)</sup>  | GS Mortgage Securities Corp. II<sup>(a),(d)</sup>  | GS Mortgage Securities Corp. II<sup>(a),(d)</sup>  | GS Mortgage Securities Corp. II<sup>(a),(d)</sup>  |
| Series 2023-SHIP Class A | Series 2023-SHIP Class A | Series 2023-SHIP Class A | Series 2023-SHIP Class A |
| 09/10/2038 | &nbsp;&nbsp; 4.322% | 16028913 | &nbsp;&nbsp; 16010403 |
| JPMCC Commercial Mortgage Securities Trust<sup>(d)</sup>  | JPMCC Commercial Mortgage Securities Trust<sup>(d)</sup>  | JPMCC Commercial Mortgage Securities Trust<sup>(d)</sup>  | JPMCC Commercial Mortgage Securities Trust<sup>(d)</sup>  |
| Series 2016-JP4 Class ASB | Series 2016-JP4 Class ASB | Series 2016-JP4 Class ASB | Series 2016-JP4 Class ASB |
| 12/15/2049 | &nbsp;&nbsp; 3.474% | 695255 | &nbsp;&nbsp; 692899 |
| JPMDB Commercial Mortgage Securities Trust | JPMDB Commercial Mortgage Securities Trust | JPMDB Commercial Mortgage Securities Trust | JPMDB Commercial Mortgage Securities Trust |
| Series 2016-C4 Class A2 | Series 2016-C4 Class A2 | Series 2016-C4 Class A2 | Series 2016-C4 Class A2 |
| 12/15/2049 | &nbsp;&nbsp; 2.882% | 5094949 | &nbsp;&nbsp; 5035957 |
| Tricon American Homes<sup>(a)</sup>  | Tricon American Homes<sup>(a)</sup>  | Tricon American Homes<sup>(a)</sup>  | Tricon American Homes<sup>(a)</sup>  |
| Series 2020-SFR1 Class A | Series 2020-SFR1 Class A | Series 2020-SFR1 Class A | Series 2020-SFR1 Class A |
| 07/17/2038 | &nbsp;&nbsp; 1.499% | 8243702 | &nbsp;&nbsp; 8135121 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Commercial Mortgage-Backed Securities - Non-Agency (continued)** | **Commercial Mortgage-Backed Securities - Non-Agency (continued)** | **Commercial Mortgage-Backed Securities - Non-Agency (continued)** | **Commercial Mortgage-Backed Securities - Non-Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust |
| Series 2017-C2 Class A4 | Series 2017-C2 Class A4 | Series 2017-C2 Class A4 | Series 2017-C2 Class A4 |
| 08/15/2050 | &nbsp;&nbsp; 3.487% | 6055000 | &nbsp;&nbsp; 6001864 |
| Series 2017-C3 Class ASB | Series 2017-C3 Class ASB | Series 2017-C3 Class ASB | Series 2017-C3 Class ASB |
| 08/15/2050 | &nbsp;&nbsp; 3.215% | 1739261 | &nbsp;&nbsp; 1728123 |
| Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| Series 2016-BNK1 Class A2 | Series 2016-BNK1 Class A2 | Series 2016-BNK1 Class A2 | Series 2016-BNK1 Class A2 |
| 08/15/2049 | &nbsp;&nbsp; 2.399% | 1208789 | &nbsp;&nbsp; 1203789 |
| Series 2016-C36 Class A3 | Series 2016-C36 Class A3 | Series 2016-C36 Class A3 | Series 2016-C36 Class A3 |
| 11/15/2059 | &nbsp;&nbsp; 2.807% | 4127177 | &nbsp;&nbsp; 4096527 |
| Series 2018-C45 Class ASB | Series 2018-C45 Class ASB | Series 2018-C45 Class ASB | Series 2018-C45 Class ASB |
| 06/15/2051 | &nbsp;&nbsp; 4.147% | 4765222 | &nbsp;&nbsp; 4769083 |
| Wells Fargo Commercial Mortgage Trust<sup>(a),(e)</sup>  | Wells Fargo Commercial Mortgage Trust<sup>(a),(e)</sup>  | Wells Fargo Commercial Mortgage Trust<sup>(a),(e)</sup>  | Wells Fargo Commercial Mortgage Trust<sup>(a),(e)</sup>  |
| Series 2017-SMP Class A | Series 2017-SMP Class A | Series 2017-SMP Class A | Series 2017-SMP Class A |
| 1-month Term SOFR + 0.922% <br>Floor 0.750% <br>12/15/2034<br>| &nbsp;&nbsp; 4.603% | 11000000 | &nbsp;&nbsp; 10232733 |
| Total Commercial Mortgage-Backed Securities - Non-Agency <br>(Cost $106,951,373) | Total Commercial Mortgage-Backed Securities - Non-Agency <br>(Cost $106,951,373) | Total Commercial Mortgage-Backed Securities - Non-Agency <br>(Cost $106,951,373) | &nbsp;&nbsp; **106805047** |
| **Corporate Bonds & Notes 46.6%** | **Corporate Bonds & Notes 46.6%** | **Corporate Bonds & Notes 46.6%** | **Corporate Bonds & Notes 46.6%** |
| **Aerospace & Defense 2.0%** | **Aerospace & Defense 2.0%** | **Aerospace & Defense 2.0%** | **Aerospace & Defense 2.0%** |
| BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  |
| 03/26/2027 | &nbsp;&nbsp; 5.000% | 7500000 | &nbsp;&nbsp; 7587469 |
| Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) |
| 02/01/2027 | &nbsp;&nbsp; 2.700% | 8000000 | &nbsp;&nbsp; 7901840 |
| L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. |
| 12/15/2026 | &nbsp;&nbsp; 3.850% | 7500000 | &nbsp;&nbsp; 7493516 |
| Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. |
| 03/15/2027 | &nbsp;&nbsp; 3.500% | 7500000 | &nbsp;&nbsp; 7465619 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **30448444** |
| **Automotive 0.5%** | **Automotive 0.5%** | **Automotive 0.5%** | **Automotive 0.5%** |
| Toyota Motor Credit Corp.<sup>(e)</sup>  | Toyota Motor Credit Corp.<sup>(e)</sup>  | Toyota Motor Credit Corp.<sup>(e)</sup>  | Toyota Motor Credit Corp.<sup>(e)</sup>  |
| SOFR + 0.450% <br>01/12/2028<br>| &nbsp;&nbsp; 4.100% | 7510000 | &nbsp;&nbsp; 7516582 |
| **Banking 13.9%** | **Banking 13.9%** | **Banking 13.9%** | **Banking 13.9%** |
| Bank of America Corp.<sup>(e)</sup>  | Bank of America Corp.<sup>(e)</sup>  | Bank of America Corp.<sup>(e)</sup>  | Bank of America Corp.<sup>(e)</sup>  |
| SOFR + 1.350% <br>09/15/2027<br>| &nbsp;&nbsp; 5.000% | 15450000 | &nbsp;&nbsp; 15534375 |
| Bank of Montreal<sup>(f)</sup>  | Bank of Montreal<sup>(f)</sup>  | Bank of Montreal<sup>(f)</sup>  | Bank of Montreal<sup>(f)</sup>  |
| 09/10/2027 | &nbsp;&nbsp; 4.567% | 8000000 | &nbsp;&nbsp; 8026294 |
| Bank of New York Mellon Corp. (The)<sup>(e)</sup>  | Bank of New York Mellon Corp. (The)<sup>(e)</sup>  | Bank of New York Mellon Corp. (The)<sup>(e)</sup>  | Bank of New York Mellon Corp. (The)<sup>(e)</sup>  |
| SOFR + 0.680% <br>06/09/2028<br>| &nbsp;&nbsp; 4.330% | 8000000 | &nbsp;&nbsp; 8018007 |
| Bank of Nova Scotia (The)<sup>(e)</sup>  | Bank of Nova Scotia (The)<sup>(e)</sup>  | Bank of Nova Scotia (The)<sup>(e)</sup>  | Bank of Nova Scotia (The)<sup>(e)</sup>  |
| SOFR + 0.760% <br>09/15/2028<br>| &nbsp;&nbsp; 4.410% | 8000000 | &nbsp;&nbsp; 8008874 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Canadian Imperial Bank of Commerce<sup>(f)</sup>  | Canadian Imperial Bank of Commerce<sup>(f)</sup>  | Canadian Imperial Bank of Commerce<sup>(f)</sup>  | Canadian Imperial Bank of Commerce<sup>(f)</sup>  |
| 09/08/2028 | &nbsp;&nbsp; 4.243% | 7500000 | &nbsp;&nbsp; 7527074 |
| Citigroup, Inc.<sup>(f)</sup>  | Citigroup, Inc.<sup>(f)</sup>  | Citigroup, Inc.<sup>(f)</sup>  | Citigroup, Inc.<sup>(f)</sup>  |
| 06/09/2027 | &nbsp;&nbsp; 1.462% | 15500000 | &nbsp;&nbsp; 15359860 |
| Cooperatieve Rabobank UA<sup>(e)</sup>  | Cooperatieve Rabobank UA<sup>(e)</sup>  | Cooperatieve Rabobank UA<sup>(e)</sup>  | Cooperatieve Rabobank UA<sup>(e)</sup>  |
| SOFR + 0.410% <br>01/14/2028<br>| &nbsp;&nbsp; 4.060% | 8200000 | &nbsp;&nbsp; 8208311 |
| Goldman Sachs Group, Inc. (The)<sup>(f)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(f)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(f)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(f)</sup>  |
| 01/21/2029 | &nbsp;&nbsp; 4.148% | 14840000 | &nbsp;&nbsp; 14850568 |
| HSBC Holdings PLC<sup>(f)</sup>  | HSBC Holdings PLC<sup>(f)</sup>  | HSBC Holdings PLC<sup>(f)</sup>  | HSBC Holdings PLC<sup>(f)</sup>  |
| 03/13/2028 | &nbsp;&nbsp; 4.041% | 12000000 | &nbsp;&nbsp; 11998789 |
| JPMorgan Chase & Co.<sup>(f)</sup>  | JPMorgan Chase & Co.<sup>(f)</sup>  | JPMorgan Chase & Co.<sup>(f)</sup>  | JPMorgan Chase & Co.<sup>(f)</sup>  |
| 04/22/2028 | &nbsp;&nbsp; 5.571% | 15000000 | &nbsp;&nbsp; 15282812 |
| Morgan Stanley<sup>(f)</sup>  | Morgan Stanley<sup>(f)</sup>  | Morgan Stanley<sup>(f)</sup>  | Morgan Stanley<sup>(f)</sup>  |
| 07/20/2027 | &nbsp;&nbsp; 1.512% | 15500000 | &nbsp;&nbsp; 15321169 |
| PNC Financial Services Group, Inc. (The)<sup>(f)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(f)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(f)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(f)</sup>  |
| 07/23/2027 | &nbsp;&nbsp; 5.102% | 7500000 | &nbsp;&nbsp; 7537697 |
| Royal Bank of Canada<sup>(e)</sup>  | Royal Bank of Canada<sup>(e)</sup>  | Royal Bank of Canada<sup>(e)</sup>  | Royal Bank of Canada<sup>(e)</sup>  |
| SOFR + 0.790% <br>07/23/2027<br>| &nbsp;&nbsp; 4.440% | 8000000 | &nbsp;&nbsp; 8014382 |
| Skandinaviska Enskilda Banken AB<sup>(a)</sup>  | Skandinaviska Enskilda Banken AB<sup>(a)</sup>  | Skandinaviska Enskilda Banken AB<sup>(a)</sup>  | Skandinaviska Enskilda Banken AB<sup>(a)</sup>  |
| 03/05/2027 | &nbsp;&nbsp; 5.125% | 7500000 | &nbsp;&nbsp; 7605512 |
| State Street Corp.<sup>(f)</sup>  | State Street Corp.<sup>(f)</sup>  | State Street Corp.<sup>(f)</sup>  | State Street Corp.<sup>(f)</sup>  |
| 04/24/2028 | &nbsp;&nbsp; 4.543% | 8000000 | &nbsp;&nbsp; 8066285 |
| Toronto-Dominion Bank (The)<sup>(e)</sup>  | Toronto-Dominion Bank (The)<sup>(e)</sup>  | Toronto-Dominion Bank (The)<sup>(e)</sup>  | Toronto-Dominion Bank (The)<sup>(e)</sup>  |
| SOFR + 0.580% <br>01/13/2028<br>| &nbsp;&nbsp; 4.230% | 8260000 | &nbsp;&nbsp; 8268872 |
| Truist Bank<sup>(f)</sup>  | Truist Bank<sup>(f)</sup>  | Truist Bank<sup>(f)</sup>  | Truist Bank<sup>(f)</sup>  |
| 01/27/2029 | &nbsp;&nbsp; 4.144% | 8000000 | &nbsp;&nbsp; 8008695 |
| UBS Group AG<sup>(a),(f)</sup>  | UBS Group AG<sup>(a),(f)</sup>  | UBS Group AG<sup>(a),(f)</sup>  | UBS Group AG<sup>(a),(f)</sup>  |
| 05/12/2028 | &nbsp;&nbsp; 4.751% | 8540000 | &nbsp;&nbsp; 8607234 |
| US Bank NA<sup>(e)</sup>  | US Bank NA<sup>(e)</sup>  | US Bank NA<sup>(e)</sup>  | US Bank NA<sup>(e)</sup>  |
| SOFR + 0.910% <br>05/15/2028<br>| &nbsp;&nbsp; 4.560% | 8000000 | &nbsp;&nbsp; 8035453 |
| Wells Fargo & Co.<sup>(f)</sup>  | Wells Fargo & Co.<sup>(f)</sup>  | Wells Fargo & Co.<sup>(f)</sup>  | Wells Fargo & Co.<sup>(f)</sup>  |
| 01/24/2028 | &nbsp;&nbsp; 4.900% | 14000000 | &nbsp;&nbsp; 14118815 |
| Westpac Banking Corp.<sup>(e)</sup>  | Westpac Banking Corp.<sup>(e)</sup>  | Westpac Banking Corp.<sup>(e)</sup>  | Westpac Banking Corp.<sup>(e)</sup>  |
| SOFR + 0.460% <br>10/20/2026<br>| &nbsp;&nbsp; 4.110% | 7000000 | &nbsp;&nbsp; 7010523 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **213409601** |
| **Cable and Satellite 1.0%** | **Cable and Satellite 1.0%** | **Cable and Satellite 1.0%** | **Cable and Satellite 1.0%** |
| Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital |
| 03/15/2028 | &nbsp;&nbsp; 4.200% | 7500000 | &nbsp;&nbsp; 7471779 |
| Comcast Corp. | Comcast Corp. | Comcast Corp. | Comcast Corp. |
| 01/15/2027 | &nbsp;&nbsp; 2.350% | 8000000 | &nbsp;&nbsp; 7891580 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15363359** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Chemicals 0.5%** | **Chemicals 0.5%** | **Chemicals 0.5%** | **Chemicals 0.5%** |
| LYB International Finance II BV | LYB International Finance II BV | LYB International Finance II BV | LYB International Finance II BV |
| 03/02/2027 | &nbsp;&nbsp; 3.500% | 7500000 | &nbsp;&nbsp; 7461560 |
| **Construction Machinery 0.9%** | **Construction Machinery 0.9%** | **Construction Machinery 0.9%** | **Construction Machinery 0.9%** |
| Caterpillar Financial Services Corp.<sup>(e)</sup>  | Caterpillar Financial Services Corp.<sup>(e)</sup>  | Caterpillar Financial Services Corp.<sup>(e)</sup>  | Caterpillar Financial Services Corp.<sup>(e)</sup>  |
| SOFR + 0.400% <br>01/10/2028<br>| &nbsp;&nbsp; 4.050% | 8225000 | &nbsp;&nbsp; 8232873 |
| John Deere Capital Corp. | John Deere Capital Corp. | John Deere Capital Corp. | John Deere Capital Corp. |
| 03/06/2026 | &nbsp;&nbsp; 4.950% | 5750000 | &nbsp;&nbsp; 5754674 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **13987547** |
| **Diversified Manufacturing 1.0%** | **Diversified Manufacturing 1.0%** | **Diversified Manufacturing 1.0%** | **Diversified Manufacturing 1.0%** |
| Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. |
| 02/15/2027 | &nbsp;&nbsp; 2.493% | 8000000 | &nbsp;&nbsp; 7890063 |
| Siemens Financieringsmaatschappij NV<sup>(a)</sup>  | Siemens Financieringsmaatschappij NV<sup>(a)</sup>  | Siemens Financieringsmaatschappij NV<sup>(a)</sup>  | Siemens Financieringsmaatschappij NV<sup>(a)</sup>  |
| 03/16/2027 | &nbsp;&nbsp; 3.400% | 7500000 | &nbsp;&nbsp; 7473152 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15363215** |
| **Electric 4.4%** | **Electric 4.4%** | **Electric 4.4%** | **Electric 4.4%** |
| Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
| 05/15/2028 | &nbsp;&nbsp; 4.600% | 8000000 | &nbsp;&nbsp; 8099411 |
| DTE Energy Co. | DTE Energy Co. | DTE Energy Co. | DTE Energy Co. |
| 06/01/2028 | &nbsp;&nbsp; 4.875% | 7590000 | &nbsp;&nbsp; 7723383 |
| Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. |
| 08/15/2027 | &nbsp;&nbsp; 3.150% | 7500000 | &nbsp;&nbsp; 7413976 |
| Eversource Energy | Eversource Energy | Eversource Energy | Eversource Energy |
| 03/01/2027 | &nbsp;&nbsp; 2.900% | 7500000 | &nbsp;&nbsp; 7409734 |
| Georgia Power Co.<sup>(e)</sup>  | Georgia Power Co.<sup>(e)</sup>  | Georgia Power Co.<sup>(e)</sup>  | Georgia Power Co.<sup>(e)</sup>  |
| SOFR + 0.280% <br>09/15/2026<br>| &nbsp;&nbsp; 3.930% | 5590000 | &nbsp;&nbsp; 5592353 |
| NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |
| 09/01/2027 | &nbsp;&nbsp; 4.685% | 7500000 | &nbsp;&nbsp; 7584791 |
| Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. | Public Service Enterprise Group, Inc. |
| 11/15/2027 | &nbsp;&nbsp; 5.850% | 7500000 | &nbsp;&nbsp; 7728399 |
| WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. |
| 01/15/2028 | &nbsp;&nbsp; 4.750% | 7500000 | &nbsp;&nbsp; 7619008 |
| Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. |
| 03/21/2028 | &nbsp;&nbsp; 4.750% | 7500000 | &nbsp;&nbsp; 7608064 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **66779119** |
| **Food and Beverage 2.5%** | **Food and Beverage 2.5%** | **Food and Beverage 2.5%** | **Food and Beverage 2.5%** |
| Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  | Bacardi Ltd.<sup>(a)</sup>  |
| 05/15/2028 | &nbsp;&nbsp; 4.700% | 7500000 | &nbsp;&nbsp; 7564042 |
| Diageo Capital PLC | Diageo Capital PLC | Diageo Capital PLC | Diageo Capital PLC |
| 10/05/2026 | &nbsp;&nbsp; 5.375% | 6000000 | &nbsp;&nbsp; 6051868 |
| Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
| 05/15/2027 | &nbsp;&nbsp; 3.875% | 7500000 | &nbsp;&nbsp; 7478165 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  |
| 03/01/2027 | &nbsp;&nbsp; 4.450% | 7500000 | &nbsp;&nbsp; 7555315 |
| Mondelez International, Inc. | Mondelez International, Inc. | Mondelez International, Inc. | Mondelez International, Inc. |
| 03/17/2027 | &nbsp;&nbsp; 2.625% | 7500000 | &nbsp;&nbsp; 7391297 |
| PepsiCo, Inc. | PepsiCo, Inc. | PepsiCo, Inc. | PepsiCo, Inc. |
| 01/15/2029 | &nbsp;&nbsp; 4.100% | 3000000 | &nbsp;&nbsp; 3022064 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **39062751** |
| **Health Care 2.5%** | **Health Care 2.5%** | **Health Care 2.5%** | **Health Care 2.5%** |
| Becton Dickinson and Co. | Becton Dickinson and Co. | Becton Dickinson and Co. | Becton Dickinson and Co. |
| 06/06/2027 | &nbsp;&nbsp; 3.700% | 7500000 | &nbsp;&nbsp; 7476666 |
| Cigna Corp. | Cigna Corp. | Cigna Corp. | Cigna Corp. |
| 03/01/2027 | &nbsp;&nbsp; 3.400% | 7500000 | &nbsp;&nbsp; 7459064 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| 03/25/2028 | &nbsp;&nbsp; 4.300% | 7500000 | &nbsp;&nbsp; 7526703 |
| GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. |
| 11/15/2027 | &nbsp;&nbsp; 5.650% | 7500000 | &nbsp;&nbsp; 7710791 |
| HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
| 03/15/2027 | &nbsp;&nbsp; 3.125% | 8000000 | &nbsp;&nbsp; 7924963 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **38098187** |
| **Healthcare Insurance 1.0%** | **Healthcare Insurance 1.0%** | **Healthcare Insurance 1.0%** | **Healthcare Insurance 1.0%** |
| Anthem, Inc. | Anthem, Inc. | Anthem, Inc. | Anthem, Inc. |
| 03/01/2028 | &nbsp;&nbsp; 4.101% | 8000000 | &nbsp;&nbsp; 8012432 |
| UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
| 06/15/2028 | &nbsp;&nbsp; 4.400% | 8000000 | &nbsp;&nbsp; 8081187 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **16093619** |
| **Independent Energy 0.5%** | **Independent Energy 0.5%** | **Independent Energy 0.5%** | **Independent Energy 0.5%** |
| Woodside Finance Ltd.<sup>(a)</sup>  | Woodside Finance Ltd.<sup>(a)</sup>  | Woodside Finance Ltd.<sup>(a)</sup>  | Woodside Finance Ltd.<sup>(a)</sup>  |
| 03/15/2028 | &nbsp;&nbsp; 3.700% | 7500000 | &nbsp;&nbsp; 7419020 |
| **Integrated Energy 0.5%** | **Integrated Energy 0.5%** | **Integrated Energy 0.5%** | **Integrated Energy 0.5%** |
| BP Capital Markets PLC | BP Capital Markets PLC | BP Capital Markets PLC | BP Capital Markets PLC |
| 09/19/2027 | &nbsp;&nbsp; 3.279% | 7500000 | &nbsp;&nbsp; 7446628 |
| **Life Insurance 2.0%** | **Life Insurance 2.0%** | **Life Insurance 2.0%** | **Life Insurance 2.0%** |
| Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  |
| 08/20/2027 | &nbsp;&nbsp; 4.650% | 7500000 | &nbsp;&nbsp; 7577476 |
| Met Tower Global Funding<sup>(a)</sup>  | Met Tower Global Funding<sup>(a)</sup>  | Met Tower Global Funding<sup>(a)</sup>  | Met Tower Global Funding<sup>(a)</sup>  |
| 01/14/2028 | &nbsp;&nbsp; 4.800% | 7500000 | &nbsp;&nbsp; 7623006 |
| Pricoa Global Funding I<sup>(a)</sup>  | Pricoa Global Funding I<sup>(a)</sup>  | Pricoa Global Funding I<sup>(a)</sup>  | Pricoa Global Funding I<sup>(a)</sup>  |
| 08/27/2027 | &nbsp;&nbsp; 4.400% | 7500000 | &nbsp;&nbsp; 7565358 |
| Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  |
| 11/17/2026 | &nbsp;&nbsp; 1.500% | 7500000 | &nbsp;&nbsp; 7364814 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **30130654** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Midstream 3.6%** | **Midstream 3.6%** | **Midstream 3.6%** | **Midstream 3.6%** |
| Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
| 11/20/2028 | &nbsp;&nbsp; 4.200% | 7500000 | &nbsp;&nbsp; 7521656 |
| Energy Transfer Operating LP | Energy Transfer Operating LP | Energy Transfer Operating LP | Energy Transfer Operating LP |
| 06/15/2028 | &nbsp;&nbsp; 4.950% | 7500000 | &nbsp;&nbsp; 7632423 |
| Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC | Enterprise Products Operating LLC |
| 06/20/2028 | &nbsp;&nbsp; 4.300% | 6500000 | &nbsp;&nbsp; 6555765 |
| Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. | Kinder Morgan, Inc. |
| 11/15/2026 | &nbsp;&nbsp; 1.750% | 6500000 | &nbsp;&nbsp; 6391145 |
| MPLX LP | MPLX LP | MPLX LP | MPLX LP |
| 03/15/2028 | &nbsp;&nbsp; 4.000% | 7000000 | &nbsp;&nbsp; 6996897 |
| Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. |
| 12/15/2026 | &nbsp;&nbsp; 4.500% | 6500000 | &nbsp;&nbsp; 6518356 |
| Western Midstream Operating LP | Western Midstream Operating LP | Western Midstream Operating LP | Western Midstream Operating LP |
| 01/15/2029 | &nbsp;&nbsp; 6.350% | 7500000 | &nbsp;&nbsp; 7909514 |
| Williams Companies, Inc. (The) | Williams Companies, Inc. (The) | Williams Companies, Inc. (The) | Williams Companies, Inc. (The) |
| 06/15/2027 | &nbsp;&nbsp; 3.750% | 6500000 | &nbsp;&nbsp; 6484014 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **56009770** |
| **Natural Gas 1.0%** | **Natural Gas 1.0%** | **Natural Gas 1.0%** | **Natural Gas 1.0%** |
| CenterPoint Energy Resources Corp. | CenterPoint Energy Resources Corp. | CenterPoint Energy Resources Corp. | CenterPoint Energy Resources Corp. |
| 03/01/2028 | &nbsp;&nbsp; 5.250% | 7265000 | &nbsp;&nbsp; 7447624 |
| NiSource, Inc. | NiSource, Inc. | NiSource, Inc. | NiSource, Inc. |
| 03/30/2028 | &nbsp;&nbsp; 5.250% | 7500000 | &nbsp;&nbsp; 7687793 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15135417** |
| **Pharmaceuticals 2.6%** | **Pharmaceuticals 2.6%** | **Pharmaceuticals 2.6%** | **Pharmaceuticals 2.6%** |
| AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
| 03/15/2027 | &nbsp;&nbsp; 4.800% | 7000000 | &nbsp;&nbsp; 7074282 |
| Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
| 02/21/2027 | &nbsp;&nbsp; 2.200% | 7000000 | &nbsp;&nbsp; 6879972 |
| AstraZeneca Finance LLC | AstraZeneca Finance LLC | AstraZeneca Finance LLC | AstraZeneca Finance LLC |
| 05/28/2028 | &nbsp;&nbsp; 1.750% | 7000000 | &nbsp;&nbsp; 6686957 |
| Bristol Myers Squibb Co. | Bristol Myers Squibb Co. | Bristol Myers Squibb Co. | Bristol Myers Squibb Co. |
| 02/20/2028 | &nbsp;&nbsp; 3.900% | 4500000 | &nbsp;&nbsp; 4511424 |
| Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. |
| 03/01/2026 | &nbsp;&nbsp; 3.650% | 5000000 | &nbsp;&nbsp; 4997862 |
| Pfizer, Inc. | Pfizer, Inc. | Pfizer, Inc. | Pfizer, Inc. |
| 11/15/2027 | &nbsp;&nbsp; 3.875% | 7500000 | &nbsp;&nbsp; 7525718 |
| Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  |
| 05/15/2026 | &nbsp;&nbsp; 2.625% | 1712000 | &nbsp;&nbsp; 1705912 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **39382127** |
| **Property & Casualty 0.7%** | **Property & Casualty 0.7%** | **Property & Casualty 0.7%** | **Property & Casualty 0.7%** |
| Chubb INA Holdings, Inc. | Chubb INA Holdings, Inc. | Chubb INA Holdings, Inc. | Chubb INA Holdings, Inc. |
| 05/03/2026 | &nbsp;&nbsp; 3.350% | 5500000 | &nbsp;&nbsp; 5492092 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Loews Corp. | Loews Corp. | Loews Corp. | Loews Corp. |
| 04/01/2026 | &nbsp;&nbsp; 3.750% | 5500000 | &nbsp;&nbsp; 5496201 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10988293** |
| **Railroads 0.6%** | **Railroads 0.6%** | **Railroads 0.6%** | **Railroads 0.6%** |
| Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. |
| 06/15/2026 | &nbsp;&nbsp; 2.900% | 3200000 | &nbsp;&nbsp; 3188456 |
| Union Pacific Corp. | Union Pacific Corp. | Union Pacific Corp. | Union Pacific Corp. |
| 02/05/2027 | &nbsp;&nbsp; 2.150% | 6018000 | &nbsp;&nbsp; 5920606 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9109062** |
| **Retailers 0.4%** | **Retailers 0.4%** | **Retailers 0.4%** | **Retailers 0.4%** |
| Home Depot, Inc. (The) | Home Depot, Inc. (The) | Home Depot, Inc. (The) | Home Depot, Inc. (The) |
| 06/25/2026 | &nbsp;&nbsp; 5.150% | 6500000 | &nbsp;&nbsp; 6534755 |
| **Technology 2.0%** | **Technology 2.0%** | **Technology 2.0%** | **Technology 2.0%** |
| Broadcom Corp./Cayman Finance Ltd. | Broadcom Corp./Cayman Finance Ltd. | Broadcom Corp./Cayman Finance Ltd. | Broadcom Corp./Cayman Finance Ltd. |
| 01/15/2028 | &nbsp;&nbsp; 3.500% | 8000000 | &nbsp;&nbsp; 7952020 |
| NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. |
| 06/01/2027 | &nbsp;&nbsp; 4.400% | 7500000 | &nbsp;&nbsp; 7537717 |
| Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
| 11/15/2027 | &nbsp;&nbsp; 3.250% | 8000000 | &nbsp;&nbsp; 7844369 |
| Synopsys, Inc. | Synopsys, Inc. | Synopsys, Inc. | Synopsys, Inc. |
| 04/01/2027 | &nbsp;&nbsp; 4.550% | 7500000 | &nbsp;&nbsp; 7556369 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **30890475** |
| **Transportation Services 0.5%** | **Transportation Services 0.5%** | **Transportation Services 0.5%** | **Transportation Services 0.5%** |
| ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  |
| 05/01/2028 | &nbsp;&nbsp; 4.600% | 7200000 | &nbsp;&nbsp; 7294876 |
| **Wireless 1.0%** | **Wireless 1.0%** | **Wireless 1.0%** | **Wireless 1.0%** |
| American Tower Corp. | American Tower Corp. | American Tower Corp. | American Tower Corp. |
| 07/15/2027 | &nbsp;&nbsp; 3.550% | 8000000 | &nbsp;&nbsp; 7947556 |
| T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. |
| 04/15/2027 | &nbsp;&nbsp; 3.750% | 7500000 | &nbsp;&nbsp; 7480916 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15428472** |
| **Wirelines 1.0%** | **Wirelines 1.0%** | **Wirelines 1.0%** | **Wirelines 1.0%** |
| AT&T, Inc. | AT&T, Inc. | AT&T, Inc. | AT&T, Inc. |
| 02/15/2028 | &nbsp;&nbsp; 4.100% | 8175000 | &nbsp;&nbsp; 8193299 |
| Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
| 03/16/2027 | &nbsp;&nbsp; 4.125% | 7500000 | &nbsp;&nbsp; 7521966 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15715265** |
| Total Corporate Bonds & Notes <br>(Cost $711,852,263) | Total Corporate Bonds & Notes <br>(Cost $711,852,263) | Total Corporate Bonds & Notes <br>(Cost $711,852,263) | &nbsp;&nbsp; **715068798** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(g)</sup> **1.0%** | **Foreign Government Obligations**<sup>(g)</sup> **1.0%** | **Foreign Government Obligations**<sup>(g)</sup> **1.0%** | **Foreign Government Obligations**<sup>(g)</sup> **1.0%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Canada 1.0%** | **Canada 1.0%** | **Canada 1.0%** | **Canada 1.0%** |
| Province of Ontario Canada | Province of Ontario Canada | Province of Ontario Canada | Province of Ontario Canada |
| 05/21/2027 | &nbsp;&nbsp; 1.050% | 7520000 | &nbsp;&nbsp; 7269917 |
| Province of Quebec | Province of Quebec | Province of Quebec | Province of Quebec |
| 04/20/2026 | &nbsp;&nbsp; 2.500% | 7500000 | &nbsp;&nbsp; 7477825 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **14747742** |
| Total Foreign Government Obligations <br>(Cost $14,739,905) | Total Foreign Government Obligations <br>(Cost $14,739,905) | Total Foreign Government Obligations <br>(Cost $14,739,905) | &nbsp;&nbsp; **14747742** |
| **Residential Mortgage-Backed Securities - Agency 0.0%** | **Residential Mortgage-Backed Securities - Agency 0.0%** | **Residential Mortgage-Backed Securities - Agency 0.0%** | **Residential Mortgage-Backed Securities - Agency 0.0%** |
| Federal Home Loan Mortgage Corp.<sup>(e)</sup>  | Federal Home Loan Mortgage Corp.<sup>(e)</sup>  | Federal Home Loan Mortgage Corp.<sup>(e)</sup>  | Federal Home Loan Mortgage Corp.<sup>(e)</sup>  |
| 1-year CMT + 2.255% <br>Cap 11.255% <br>02/01/2036<br>| &nbsp;&nbsp; 5.986% | 13037 | &nbsp;&nbsp; 13430 |
| Total Residential Mortgage-Backed Securities - Agency <br>(Cost $13,029) | Total Residential Mortgage-Backed Securities - Agency <br>(Cost $13,029) | Total Residential Mortgage-Backed Securities - Agency <br>(Cost $13,029) | &nbsp;&nbsp; **13430** |
| **Residential Mortgage-Backed Securities - Non-Agency 9.7%** | **Residential Mortgage-Backed Securities - Non-Agency 9.7%** | **Residential Mortgage-Backed Securities - Non-Agency 9.7%** | **Residential Mortgage-Backed Securities - Non-Agency 9.7%** |
| BRAVO Residential Funding Trust<sup>(a),(e)</sup>  | BRAVO Residential Funding Trust<sup>(a),(e)</sup>  | BRAVO Residential Funding Trust<sup>(a),(e)</sup>  | BRAVO Residential Funding Trust<sup>(a),(e)</sup>  |
| CMO Series 2025-HE1 Class A1 | CMO Series 2025-HE1 Class A1 | CMO Series 2025-HE1 Class A1 | CMO Series 2025-HE1 Class A1 |
| 30-day Average SOFR + 1.350% <br>09/25/2072<br>| &nbsp;&nbsp; 5.047% | 6921682 | &nbsp;&nbsp; 6936646 |
| COLT Mortgage Loan Trust<sup>(a),(f)</sup>  | COLT Mortgage Loan Trust<sup>(a),(f)</sup>  | COLT Mortgage Loan Trust<sup>(a),(f)</sup>  | COLT Mortgage Loan Trust<sup>(a),(f)</sup>  |
| CMO Series 2024-6 Class A1 | CMO Series 2024-6 Class A1 | CMO Series 2024-6 Class A1 | CMO Series 2024-6 Class A1 |
| 11/25/2069 | &nbsp;&nbsp; 5.390% | 1108772 | &nbsp;&nbsp; 1116819 |
| CMO Series 2024-7 Class A1 | CMO Series 2024-7 Class A1 | CMO Series 2024-7 Class A1 | CMO Series 2024-7 Class A1 |
| 12/26/2069 | &nbsp;&nbsp; 5.538% | 5205176 | &nbsp;&nbsp; 5255759 |
| Connecticut Avenue Securities Trust<sup>(a),(e)</sup>  | Connecticut Avenue Securities Trust<sup>(a),(e)</sup>  | Connecticut Avenue Securities Trust<sup>(a),(e)</sup>  | Connecticut Avenue Securities Trust<sup>(a),(e)</sup>  |
| CMO Series 2022-R05 Class 2M1 | CMO Series 2022-R05 Class 2M1 | CMO Series 2022-R05 Class 2M1 | CMO Series 2022-R05 Class 2M1 |
| 30-day Average SOFR + 1.900% <br>04/25/2042<br>| &nbsp;&nbsp; 5.597% | 2646063 | &nbsp;&nbsp; 2651243 |
| Ellington Financial Mortgage Trust<sup>(a),(d)</sup>  | Ellington Financial Mortgage Trust<sup>(a),(d)</sup>  | Ellington Financial Mortgage Trust<sup>(a),(d)</sup>  | Ellington Financial Mortgage Trust<sup>(a),(d)</sup>  |
| CMO Series 2022-2 Class A1 | CMO Series 2022-2 Class A1 | CMO Series 2022-2 Class A1 | CMO Series 2022-2 Class A1 |
| 04/25/2067 | &nbsp;&nbsp; 4.299% | 3886666 | &nbsp;&nbsp; 3872050 |
| Freddie Mac STACR REMIC Trust<sup>(a),(e)</sup>  | Freddie Mac STACR REMIC Trust<sup>(a),(e)</sup>  | Freddie Mac STACR REMIC Trust<sup>(a),(e)</sup>  | Freddie Mac STACR REMIC Trust<sup>(a),(e)</sup>  |
| CMO Series 2022-HQA1 Class M1A | CMO Series 2022-HQA1 Class M1A | CMO Series 2022-HQA1 Class M1A | CMO Series 2022-HQA1 Class M1A |
| 30-day Average SOFR + 2.100% <br>03/25/2042<br>| &nbsp;&nbsp; 5.797% | 936586 | &nbsp;&nbsp; 939576 |
| Homes Trust<sup>(a),(d)</sup>  | Homes Trust<sup>(a),(d)</sup>  | Homes Trust<sup>(a),(d)</sup>  | Homes Trust<sup>(a),(d)</sup>  |
| CMO Series 2025-NQM3 Class A1 | CMO Series 2025-NQM3 Class A1 | CMO Series 2025-NQM3 Class A1 | CMO Series 2025-NQM3 Class A1 |
| 02/25/2070 | &nbsp;&nbsp; 5.630% | 12085490 | &nbsp;&nbsp; 12242614 |
| Homeward Opportunities Fund Trust<sup>(a),(f)</sup>  | Homeward Opportunities Fund Trust<sup>(a),(f)</sup>  | Homeward Opportunities Fund Trust<sup>(a),(f)</sup>  | Homeward Opportunities Fund Trust<sup>(a),(f)</sup>  |
| CMO Series 2025-RRTL2 Class A1 | CMO Series 2025-RRTL2 Class A1 | CMO Series 2025-RRTL2 Class A1 | CMO Series 2025-RRTL2 Class A1 |
| 09/25/2040 | &nbsp;&nbsp; 5.237% | 9500000 | &nbsp;&nbsp; 9535750 |
| JP Morgan Mortgage Trust<sup>(a),(e)</sup>  | JP Morgan Mortgage Trust<sup>(a),(e)</sup>  | JP Morgan Mortgage Trust<sup>(a),(e)</sup>  | JP Morgan Mortgage Trust<sup>(a),(e)</sup>  |
| CMO Series 2024-HE3 Class A1 | CMO Series 2024-HE3 Class A1 | CMO Series 2024-HE3 Class A1 | CMO Series 2024-HE3 Class A1 |
| 30-day Average SOFR + 1.200% <br>02/25/2055<br>| &nbsp;&nbsp; 5.118% | 3992997 | &nbsp;&nbsp; 3997945 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Non-Agency (continued)** | **Residential Mortgage-Backed Securities - Non-Agency (continued)** | **Residential Mortgage-Backed Securities - Non-Agency (continued)** | **Residential Mortgage-Backed Securities - Non-Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| MFA Trust<sup>(a),(d)</sup>  | MFA Trust<sup>(a),(d)</sup>  | MFA Trust<sup>(a),(d)</sup>  | MFA Trust<sup>(a),(d)</sup>  |
| CMO Series 2020-NQM3 Class A3 | CMO Series 2020-NQM3 Class A3 | CMO Series 2020-NQM3 Class A3 | CMO Series 2020-NQM3 Class A3 |
| 01/26/2065 | &nbsp;&nbsp; 1.632% | 488453 | &nbsp;&nbsp; 471331 |
| OBX Trust<sup>(a),(d)</sup>  | OBX Trust<sup>(a),(d)</sup>  | OBX Trust<sup>(a),(d)</sup>  | OBX Trust<sup>(a),(d)</sup>  |
| CMO Series 2024-NQ17 Class A1 | CMO Series 2024-NQ17 Class A1 | CMO Series 2024-NQ17 Class A1 | CMO Series 2024-NQ17 Class A1 |
| 11/25/2064 | &nbsp;&nbsp; 5.610% | 6534488 | &nbsp;&nbsp; 6604307 |
| PRET LLC<sup>(a),(f)</sup>  | PRET LLC<sup>(a),(f)</sup>  | PRET LLC<sup>(a),(f)</sup>  | PRET LLC<sup>(a),(f)</sup>  |
| CMO Series 2024-NPL7 Class A1 | CMO Series 2024-NPL7 Class A1 | CMO Series 2024-NPL7 Class A1 | CMO Series 2024-NPL7 Class A1 |
| 10/25/2054 | &nbsp;&nbsp; 5.925% | 3606437 | &nbsp;&nbsp; 3608367 |
| CMO Series 2024-NPL9 Class A1 | CMO Series 2024-NPL9 Class A1 | CMO Series 2024-NPL9 Class A1 | CMO Series 2024-NPL9 Class A1 |
| 12/25/2054 | &nbsp;&nbsp; 5.851% | 5396322 | &nbsp;&nbsp; 5398955 |
| CMO Series 2025-NPL4 Class A1 | CMO Series 2025-NPL4 Class A1 | CMO Series 2025-NPL4 Class A1 | CMO Series 2025-NPL4 Class A1 |
| 04/25/2055 | &nbsp;&nbsp; 6.368% | 1598638 | &nbsp;&nbsp; 1602988 |
| CMO Series 2025-NPL7 Class A1 | CMO Series 2025-NPL7 Class A1 | CMO Series 2025-NPL7 Class A1 | CMO Series 2025-NPL7 Class A1 |
| 07/25/2055 | &nbsp;&nbsp; 5.657% | 3690039 | &nbsp;&nbsp; 3696590 |
| CMO Series 2025-NPL8 Class A1 | CMO Series 2025-NPL8 Class A1 | CMO Series 2025-NPL8 Class A1 | CMO Series 2025-NPL8 Class A1 |
| 08/25/2055 | &nbsp;&nbsp; 5.732% | 7215493 | &nbsp;&nbsp; 7230766 |
| PRET Trust<sup>(a),(f)</sup>  | PRET Trust<sup>(a),(f)</sup>  | PRET Trust<sup>(a),(f)</sup>  | PRET Trust<sup>(a),(f)</sup>  |
| CMO Series 2025-NPL1 Class A1 | CMO Series 2025-NPL1 Class A1 | CMO Series 2025-NPL1 Class A1 | CMO Series 2025-NPL1 Class A1 |
| 02/25/2055 | &nbsp;&nbsp; 6.063% | 7248994 | &nbsp;&nbsp; 7253101 |
| Pretium Mortgage Credit Partners<sup>(a),(f)</sup>  | Pretium Mortgage Credit Partners<sup>(a),(f)</sup>  | Pretium Mortgage Credit Partners<sup>(a),(f)</sup>  | Pretium Mortgage Credit Partners<sup>(a),(f)</sup>  |
| Series 2025-NPL2 Class A1 | Series 2025-NPL2 Class A1 | Series 2025-NPL2 Class A1 | Series 2025-NPL2 Class A1 |
| 03/25/2055 | &nbsp;&nbsp; 5.835% | 12399298 | &nbsp;&nbsp; 12404681 |
| PRPM LLC<sup>(a),(f)</sup>  | PRPM LLC<sup>(a),(f)</sup>  | PRPM LLC<sup>(a),(f)</sup>  | PRPM LLC<sup>(a),(f)</sup>  |
| CMO Series 2024-8 Class A1 | CMO Series 2024-8 Class A1 | CMO Series 2024-8 Class A1 | CMO Series 2024-8 Class A1 |
| 12/25/2029 | &nbsp;&nbsp; 5.897% | 4691571 | &nbsp;&nbsp; 4694142 |
| RCO VIII Mortgage LLC<sup>(a),(f)</sup>  | RCO VIII Mortgage LLC<sup>(a),(f)</sup>  | RCO VIII Mortgage LLC<sup>(a),(f)</sup>  | RCO VIII Mortgage LLC<sup>(a),(f)</sup>  |
| CMO Series 2025-3 Class A1 | CMO Series 2025-3 Class A1 | CMO Series 2025-3 Class A1 | CMO Series 2025-3 Class A1 |
| 05/25/2030 | &nbsp;&nbsp; 6.435% | 2231441 | &nbsp;&nbsp; 2235378 |
| RCO X Mortgage LLC<sup>(a),(f)</sup>  | RCO X Mortgage LLC<sup>(a),(f)</sup>  | RCO X Mortgage LLC<sup>(a),(f)</sup>  | RCO X Mortgage LLC<sup>(a),(f)</sup>  |
| CMO Series 2025-1 Class A1 | CMO Series 2025-1 Class A1 | CMO Series 2025-1 Class A1 | CMO Series 2025-1 Class A1 |
| 01/25/2030 | &nbsp;&nbsp; 5.875% | 5543429 | &nbsp;&nbsp; 5545285 |
| Toorak Mortgage Trust<sup>(a),(f)</sup>  | Toorak Mortgage Trust<sup>(a),(f)</sup>  | Toorak Mortgage Trust<sup>(a),(f)</sup>  | Toorak Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2025-RRTL1 Class A1 | CMO Series 2025-RRTL1 Class A1 | CMO Series 2025-RRTL1 Class A1 | CMO Series 2025-RRTL1 Class A1 |
| 02/25/2040 | &nbsp;&nbsp; 5.524% | 12000000 | &nbsp;&nbsp; 12047915 |
| Towd Point Mortgage Trust<sup>(a),(d)</sup>  | Towd Point Mortgage Trust<sup>(a),(d)</sup>  | Towd Point Mortgage Trust<sup>(a),(d)</sup>  | Towd Point Mortgage Trust<sup>(a),(d)</sup>  |
| CMO Series 2021-SJ1 Class A1 | CMO Series 2021-SJ1 Class A1 | CMO Series 2021-SJ1 Class A1 | CMO Series 2021-SJ1 Class A1 |
| 07/25/2068 | &nbsp;&nbsp; 2.250% | 4126769 | &nbsp;&nbsp; 4033824 |
| CMO Series 2022-SJ1 Class A1B | CMO Series 2022-SJ1 Class A1B | CMO Series 2022-SJ1 Class A1B | CMO Series 2022-SJ1 Class A1B |
| 03/25/2062 | &nbsp;&nbsp; 3.612% | 6592977 | &nbsp;&nbsp; 6525161 |
| VCAT LLC<sup>(a),(f)</sup>  | VCAT LLC<sup>(a),(f)</sup>  | VCAT LLC<sup>(a),(f)</sup>  | VCAT LLC<sup>(a),(f)</sup>  |
| CMO Series 2025-NPL2 Class A1 | CMO Series 2025-NPL2 Class A1 | CMO Series 2025-NPL2 Class A1 | CMO Series 2025-NPL2 Class A1 |
| 09/25/2054 | &nbsp;&nbsp; 5.977% | 12143742 | &nbsp;&nbsp; 12307258 |
| Verus Securitization Trust<sup>(a),(f)</sup>  | Verus Securitization Trust<sup>(a),(f)</sup>  | Verus Securitization Trust<sup>(a),(f)</sup>  | Verus Securitization Trust<sup>(a),(f)</sup>  |
| Series 2025-10 Class A1FC | Series 2025-10 Class A1FC | Series 2025-10 Class A1FC | Series 2025-10 Class A1FC |
| 06/25/2070 | &nbsp;&nbsp; 5.017% | 7218523 | &nbsp;&nbsp; 7246370 |
| Total Residential Mortgage-Backed Securities - Non-Agency <br>(Cost $149,185,618) | Total Residential Mortgage-Backed Securities - Non-Agency <br>(Cost $149,185,618) | Total Residential Mortgage-Backed Securities - Non-Agency <br>(Cost $149,185,618) | &nbsp;&nbsp; **149454821** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Treasury Bills 1.0%** | **Treasury Bills 1.0%** | **Treasury Bills 1.0%** | **Treasury Bills 1.0%** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **United States 1.0%** | **United States 1.0%** | **United States 1.0%** | **United States 1.0%** |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills |
| 02/05/2026 | &nbsp;&nbsp; 3.600% | 15500000 | &nbsp;&nbsp; 15490828 |
| Total Treasury Bills <br>(Cost $15,492,354) | Total Treasury Bills <br>(Cost $15,492,354) | Total Treasury Bills <br>(Cost $15,492,354) | &nbsp;&nbsp; **15490828** |
| **U.S. Government & Agency Obligations 1.0%** | **U.S. Government & Agency Obligations 1.0%** | **U.S. Government & Agency Obligations 1.0%** | **U.S. Government & Agency Obligations 1.0%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. |
| 08/27/2027 | &nbsp;&nbsp; 3.625% | 2900000 | &nbsp;&nbsp; 2902192 |
| Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks |
| 03/10/2027 | &nbsp;&nbsp; 4.000% | 1600000 | &nbsp;&nbsp; 1607871 |
| 03/12/2027 | &nbsp;&nbsp; 4.500% | 560000 | &nbsp;&nbsp; 565397 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| 04/24/2026 | &nbsp;&nbsp; 2.125% | 2785000 | &nbsp;&nbsp; 2774847 |
| 09/24/2026 | &nbsp;&nbsp; 1.875% | 7000000 | &nbsp;&nbsp; 6923737 |
| Total U.S. Government & Agency Obligations <br>(Cost $14,753,063) | Total U.S. Government & Agency Obligations <br>(Cost $14,753,063) | Total U.S. Government & Agency Obligations <br>(Cost $14,753,063) | &nbsp;&nbsp; **14774044** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Money Market Funds 2.1%** | **Money Market Funds 2.1%** | **Money Market Funds 2.1%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(h),(i)</sup> <br>| &nbsp;&nbsp; 32429099 | &nbsp;&nbsp; 32419370 |
| Total Money Market Funds <br>(Cost $32,417,427) | Total Money Market Funds <br>(Cost $32,417,427) | &nbsp;&nbsp; **32419370** |
| **Total Investments in Securities** <br>**(Cost: $1,530,106,429)** | **Total Investments in Securities** <br>**(Cost: $1,530,106,429)** | &nbsp;&nbsp; **1534452070** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(1688118)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **1532763952** |

---

At January 31, 2026, securities and/or cash totaling $2,130,000 were pledged as collateral.

**Investments in derivatives** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** |
| **Description** | **Number of** <br>**contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Expiration** <br>**date**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Trading** <br>**currency**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**amount**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**depreciation ($)**<br>|
| U.S. Treasury 2-Year Note | (1775) | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (370073634)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 634745 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(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 January 31, 2026, the total value of these securities amounted to $623,621,163, which represents 40.69% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a security purchased on a when-issued basis.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Zero coupon bond.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Variable rate security. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(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 January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Principal and interest may not be guaranteed by a governmental entity.

&nbsp;&nbsp;&nbsp;&nbsp;(h) The rate shown is the seven-day current annualized yield at January 31, 2026.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Notes to Portfolio of Investments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;(i) Under the Investment Company Act of 1940, 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 January 31, 2026 are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% |
|  | 52527222 | &nbsp;&nbsp; 401239927 | &nbsp;&nbsp; (421348496)<br>| &nbsp;&nbsp; 717 | &nbsp;&nbsp; 32419370 | &nbsp;&nbsp; (3457)<br>| &nbsp;&nbsp; 688101 | &nbsp;&nbsp; 32429099 |

---

**Abbreviation Legend** 

CMO Collateralized Mortgage Obligation <br> CMT Constant Maturity Treasury <br> SOFR Secured Overnight Financing Rate

**Currency Legend** 

USD US Dollar

**Fair value measurements** 

The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund's assumptions about the information market participants would use in pricing an investment. An investment's level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset's or liability's fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

■

Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

■

Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

■

Level 3 — Valuations based on significant unobservable inputs (including the Fund's own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment's fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category, if any, are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The Fund's Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager's organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 485677990 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 485677990 |
| Commercial Mortgage-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 106805047 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 106805047 |
| Corporate Bonds & Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 715068798 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 715068798 |
| Foreign Government Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 14747742 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14747742 |
| Residential Mortgage-Backed Securities - Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 13430 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13430 |
| Residential Mortgage-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 149454821 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 149454821 |
| Treasury Bills |  | &nbsp;&nbsp;&nbsp;&nbsp; 15490828 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15490828 |
| U.S. Government & Agency Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 14774044 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14774044 |
| Money Market Funds | 32419370 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32419370 |
| Total Investments in Securities | 32419370 | &nbsp;&nbsp;&nbsp;&nbsp; 1502032700 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1534452070 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Futures Contracts | 634745 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 634745 |
| Total | 33054115 | &nbsp;&nbsp;&nbsp;&nbsp; 1502032700 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1535086815 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

Derivative instruments are valued at unrealized appreciation (depreciation).

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $1,497,689,002) | $1502032700 |
| Affiliated issuers (cost $32,417,427) | 32419370 |
| Margin deposits on: |  |
| Futures contracts | 2130000 |
| Receivable for: |  |
| Investments sold | 112 |
| Capital shares sold | 9769123 |
| Dividends | 116673 |
| Interest | 8414326 |
| Foreign tax reclaims | 16709 |
| Prepaid expenses | 7504 |
| Deferred compensation of board members | 254992 |
| Other assets | 50922 |
| Total assets | 1555212431 |
| **Liabilities** |  |
| Due to custodian | 34277 |
| Payable for: |  |
| Investments purchased | 8700533 |
| Investments purchased on a delayed delivery basis | 4499619 |
| Capital shares redeemed | 3538709 |
| Distributions to shareholders | 5091557 |
| Variation margin for futures contracts | 152540 |
| Management services fees | 8758 |
| Distribution and/or service fees | 2964 |
| Transfer agent fees | 48260 |
| Compensation of chief compliance officer | 107 |
| Compensation of board members | 1085 |
| Other expenses | 27925 |
| Deferred compensation of board members | 342145 |
| Total liabilities | 22448479 |
| **Net assets applicable to outstanding capital stock** | **$1532763952** |
| **Represented by** |  |
| Paid in capital | 1530382739 |
| Total distributable earnings (loss) | 2381213 |
| **Total - representing net assets applicable to outstanding capital stock** | **$1532763952** |
| **Class A** |  |
| Net assets | $728386782 |
| Shares outstanding | 78559849 |
| Net asset value per share | $9.27 |
| **Institutional Class** |  |
| Net assets | $561757922 |
| Shares outstanding | 60537366 |
| Net asset value per share | $9.28 |
| **Institutional 3 Class** |  |
| Net assets | $242619248 |
| Shares outstanding | 26137726 |
| Net asset value per share | $9.28 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — affiliated issuers | $688101 |
| Interest | 30805545 |
| Total income | 31493646 |
| Expenses: |  |
| Management services fees | 1438029 |
| Distribution and/or service fees |  |
| Class A | 437424 |
| Transfer agent fees |  |
| Class A | 151471 |
| Institutional Class | 136730 |
| Institutional 3 Class | 5490 |
| Custodian fees | 6271 |
| Printing and postage fees | 18012 |
| Registration fees | 111807 |
| Accounting services fees | 16256 |
| Legal fees | 18233 |
| Compensation of chief compliance officer | 107 |
| Compensation of board members | 12407 |
| Deferred compensation of board members | 10766 |
| Other | 12992 |
| Total expenses | 2375995 |
| **Net investment income** | 29117651 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 1405482 |
| Investments — affiliated issuers | (3457)<br>|
| Futures contracts | (1154011)<br>|
| Net realized gain | 248014 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 2420088 |
| Investments — affiliated issuers | 717 |
| Futures contracts | 408389 |
| Net change in unrealized appreciation (depreciation) | 2829194 |
| Net realized and unrealized gain | 3077208 |
| **Net increase in net assets resulting from operations** | **$32194859** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $29117651 | &nbsp;&nbsp; $52306092 |
| Net realized gain | 248014 | &nbsp;&nbsp; 1140207 |
| Net change in unrealized appreciation (depreciation) | 2829194 | &nbsp;&nbsp; 2337138 |
| Net increase in net assets resulting from operations | 32194859 | &nbsp;&nbsp; 55783437 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (12743220)<br>| &nbsp;&nbsp; (18394262)<br>|
| Advisor Class |  | &nbsp;&nbsp; (707604)<br>|
| Institutional Class | (11878157)<br>| &nbsp;&nbsp; (20113202)<br>|
| Institutional 3 Class | (5936669)<br>| &nbsp;&nbsp; (14348830)<br>|
| Total distributions to shareholders | (30558046)<br>| &nbsp;&nbsp; (53563898)<br>|
| Increase in net assets from capital stock activity | 301376443 | &nbsp;&nbsp; 180913802 |
| Total increase in net assets | 303013256 | &nbsp;&nbsp; 183133341 |
| Net assets at beginning of period | 1229750696 | &nbsp;&nbsp; 1046617355 |
| **Net assets at end of period** | **$1532763952** | &nbsp;&nbsp; **$1229750696** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 38471183 | &nbsp;&nbsp;&nbsp;&nbsp; 356669303 | &nbsp;&nbsp;&nbsp;&nbsp; 31952645 | &nbsp;&nbsp;&nbsp;&nbsp; 295685860 |
| Distributions reinvested | 1374587 | &nbsp;&nbsp;&nbsp;&nbsp; 12742425 | &nbsp;&nbsp;&nbsp;&nbsp; 1986448 | &nbsp;&nbsp;&nbsp;&nbsp; 18386280 |
| Shares redeemed | (12242114)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (113495783)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (18167516)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (168103813)<br>|
| Net increase | 27603656 | &nbsp;&nbsp;&nbsp;&nbsp; 255915945 | &nbsp;&nbsp;&nbsp;&nbsp; 15771577 | &nbsp;&nbsp;&nbsp;&nbsp; 145968327 |
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1047438 | &nbsp;&nbsp;&nbsp;&nbsp; 9696324 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 62294 | &nbsp;&nbsp;&nbsp;&nbsp; 576631 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5745299)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (53188771)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4635567)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (42915816)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 23501565 | &nbsp;&nbsp;&nbsp;&nbsp; 218062945 | &nbsp;&nbsp;&nbsp;&nbsp; 39557596 | &nbsp;&nbsp;&nbsp;&nbsp; 366347053 |
| Distributions reinvested | 1279069 | &nbsp;&nbsp;&nbsp;&nbsp; 11865609 | &nbsp;&nbsp;&nbsp;&nbsp; 2166708 | &nbsp;&nbsp;&nbsp;&nbsp; 20072743 |
| Shares redeemed | (16631455)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (154322527)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (28519972)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (264110381)<br>|
| Net increase | 8149179 | &nbsp;&nbsp;&nbsp;&nbsp; 75606027 | &nbsp;&nbsp;&nbsp;&nbsp; 13204332 | &nbsp;&nbsp;&nbsp;&nbsp; 122309415 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 839679 | &nbsp;&nbsp;&nbsp;&nbsp; 7792718 | &nbsp;&nbsp;&nbsp;&nbsp; 2252043 | &nbsp;&nbsp;&nbsp;&nbsp; 20860411 |
| Distributions reinvested | 77625 | &nbsp;&nbsp;&nbsp;&nbsp; 720493 | &nbsp;&nbsp;&nbsp;&nbsp; 158062 | &nbsp;&nbsp;&nbsp;&nbsp; 1464562 |
| Shares redeemed | (4164970)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (38658740)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7207391)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (66773097)<br>|
| Net decrease | (3247666)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (30145529)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4797286)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (44448124)<br>|
| **Total net increase** | **32505169** | &nbsp;&nbsp;&nbsp;&nbsp; **301376443** | &nbsp;&nbsp;&nbsp;&nbsp; **19543056** | &nbsp;&nbsp;&nbsp;&nbsp; **180913802** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.26 | 0.19 | 0.02 | 0.21 | &nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp; (0.20)<br>|
| Year Ended 7/31/2025 | $9.24 | 0.43 | 0.03 | 0.46 | &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp; (0.44)<br>|
| Year Ended 7/31/2024 | $9.07 | 0.40 | 0.16 | 0.56 | &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.39)<br>|
| Year Ended 7/31/2023 | $8.93 | 0.24 | 0.15 | 0.39 | &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; (0.25)<br>|
| Year Ended 7/31/2022 | $9.04 | 0.03 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2021 | $9.05 | 0.05 | 0.00 | 0.05 | &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.06)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.27 | 0.20 | 0.02 | 0.22 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.21)<br>|
| Year Ended 7/31/2025 | $9.25 | 0.44 | 0.03 | 0.47 | &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; (0.45)<br>|
| Year Ended 7/31/2024 | $9.08 | 0.41 | 0.16 | 0.57 | &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.40)<br>|
| Year Ended 7/31/2023 | $8.94 | 0.26 | 0.15 | 0.41 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2022 | $9.05 | 0.05 | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>|
| Year Ended 7/31/2021 | $9.06 | 0.06 | 0.00 | 0.06 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.07)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.27 | 0.20 | 0.02 | 0.22 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; (0.21)<br>|
| Year Ended 7/31/2025 | $9.25 | 0.45 | 0.03 | 0.48 | &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2024 | $9.09 | 0.41 | 0.16 | 0.57 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.41)<br>|
| Year Ended 7/31/2023 | $8.95 | 0.24 | 0.17 | 0.41 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2022 | $9.05 | 0.05 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.06)<br>|
| Year Ended 7/31/2021 | $9.06 | 0.07 | 0.00 | 0.07 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (0.08)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **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.  |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $9.27 | &nbsp;&nbsp;&nbsp;&nbsp; 2.32% | &nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp; 4.15% | &nbsp;&nbsp;&nbsp;&nbsp; 44% | &nbsp;&nbsp;&nbsp;&nbsp; $728387 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.26 | &nbsp;&nbsp;&nbsp;&nbsp; 5.07% | &nbsp;&nbsp;&nbsp;&nbsp; 0.45% | &nbsp;&nbsp;&nbsp;&nbsp; 0.45% | &nbsp;&nbsp;&nbsp;&nbsp; 4.61% | &nbsp;&nbsp;&nbsp;&nbsp; 81% | &nbsp;&nbsp;&nbsp;&nbsp; $471827 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.24 | &nbsp;&nbsp;&nbsp;&nbsp; 6.30% | &nbsp;&nbsp;&nbsp;&nbsp; 0.45% | &nbsp;&nbsp;&nbsp;&nbsp; 0.45% | &nbsp;&nbsp;&nbsp;&nbsp; 4.36% | &nbsp;&nbsp;&nbsp;&nbsp; 81% | &nbsp;&nbsp;&nbsp;&nbsp; $325123 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.07 | &nbsp;&nbsp;&nbsp;&nbsp; 4.48% | &nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp; 2.62% | &nbsp;&nbsp;&nbsp;&nbsp; 76% | &nbsp;&nbsp;&nbsp;&nbsp; $356981 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.93 | &nbsp;&nbsp;&nbsp;&nbsp; (0.80%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.42% | &nbsp;&nbsp;&nbsp;&nbsp; 0.42% | &nbsp;&nbsp;&nbsp;&nbsp; 0.38% | &nbsp;&nbsp;&nbsp;&nbsp; 76% | &nbsp;&nbsp;&nbsp;&nbsp; $675383 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.04 | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.43% | &nbsp;&nbsp;&nbsp;&nbsp; 0.43% | &nbsp;&nbsp;&nbsp;&nbsp; 0.55% | &nbsp;&nbsp;&nbsp;&nbsp; 87% | &nbsp;&nbsp;&nbsp;&nbsp; $978846 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $9.28 | &nbsp;&nbsp;&nbsp;&nbsp; 2.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp; 4.31% | &nbsp;&nbsp;&nbsp;&nbsp; 44% | &nbsp;&nbsp;&nbsp;&nbsp; $561758 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.27 | &nbsp;&nbsp;&nbsp;&nbsp; 5.22% | &nbsp;&nbsp;&nbsp;&nbsp; 0.30% | &nbsp;&nbsp;&nbsp;&nbsp; 0.30% | &nbsp;&nbsp;&nbsp;&nbsp; 4.76% | &nbsp;&nbsp;&nbsp;&nbsp; 81% | &nbsp;&nbsp;&nbsp;&nbsp; $485506 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.25 | &nbsp;&nbsp;&nbsp;&nbsp; 6.45% | &nbsp;&nbsp;&nbsp;&nbsp; 0.30% | &nbsp;&nbsp;&nbsp;&nbsp; 0.30% | &nbsp;&nbsp;&nbsp;&nbsp; 4.50% | &nbsp;&nbsp;&nbsp;&nbsp; 81% | &nbsp;&nbsp;&nbsp;&nbsp; $362377 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.08 | &nbsp;&nbsp;&nbsp;&nbsp; 4.64% | &nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp; 2.92% | &nbsp;&nbsp;&nbsp;&nbsp; 76% | &nbsp;&nbsp;&nbsp;&nbsp; $379279 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.94 | &nbsp;&nbsp;&nbsp;&nbsp; (0.65%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.27% | &nbsp;&nbsp;&nbsp;&nbsp; 0.27% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 76% | &nbsp;&nbsp;&nbsp;&nbsp; $422413 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.05 | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 0.28% | &nbsp;&nbsp;&nbsp;&nbsp; 0.28% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 87% | &nbsp;&nbsp;&nbsp;&nbsp; $406157 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $9.28 | &nbsp;&nbsp;&nbsp;&nbsp; 2.42% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 4.36% | &nbsp;&nbsp;&nbsp;&nbsp; 44% | &nbsp;&nbsp;&nbsp;&nbsp; $242619 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.27 | &nbsp;&nbsp;&nbsp;&nbsp; 5.28% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 4.81% | &nbsp;&nbsp;&nbsp;&nbsp; 81% | &nbsp;&nbsp;&nbsp;&nbsp; $272417 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.25 | &nbsp;&nbsp;&nbsp;&nbsp; 6.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 4.51% | &nbsp;&nbsp;&nbsp;&nbsp; 81% | &nbsp;&nbsp;&nbsp;&nbsp; $316246 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.09 | &nbsp;&nbsp;&nbsp;&nbsp; 4.69% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 2.70% | &nbsp;&nbsp;&nbsp;&nbsp; 76% | &nbsp;&nbsp;&nbsp;&nbsp; $492264 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.95 | &nbsp;&nbsp;&nbsp;&nbsp; (0.50%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.23% | &nbsp;&nbsp;&nbsp;&nbsp; 0.23% | &nbsp;&nbsp;&nbsp;&nbsp; 0.57% | &nbsp;&nbsp;&nbsp;&nbsp; 76% | &nbsp;&nbsp;&nbsp;&nbsp; $1655564 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.05 | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 87% | &nbsp;&nbsp;&nbsp;&nbsp; $2570491 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Ultra Short Term Bond Fund (the Fund), a series of Columbia Funds Series Trust I (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

Columbia Ultra Short Term Bond Fund must be purchased through financial intermediaries that, by written agreement with Columbia Management Investment Distributors, Inc., are specifically authorized to sell the Fund's shares.

**Fund shares**

The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust's organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.

As described in the Fund's prospectus, Class A shares are offered to the general public for investment. Institutional Class and Institutional 3 Class shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Debt securities generally are valued based on prices obtained from pricing services, which are intended to reflect market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques that take into account, as applicable, factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as approved independent broker-dealer quotes. Debt securities for which quotations are not

Columbia Ultra Short Term Bond Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

readily available or not believed to be reflective of market value may also be valued based upon a bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.

Asset- and mortgage-backed securities are generally valued by pricing services, which utilize pricing models that incorporate the securities' cash flow and loan performance data. These models also take into account available market data, including trades, market quotations, and benchmark yield curves for identical or similar securities. Factors used to identify similar securities may include, but are not limited to, issuer, collateral type, vintage, prepayment speeds, collateral performance, credit ratings, credit enhancement and expected life. Asset-backed securities for which quotations are readily available may also be valued based upon an over-the-counter or exchange bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Futures and options on futures contracts are valued based upon the settlement price at the close of regular trading on their principal exchanges or, in the absence of a settlement price, at the mean of the latest quoted bid and ask prices.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**Derivative instruments**

The Fund invests in certain derivative instruments, as detailed below, in seeking to meet its investment objectives. Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more securities, currencies, commodities, indices, or other assets or instruments. Derivatives may be used to increase investment flexibility (including to maintain cash reserves while maintaining desired exposure to certain assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. The Fund may also use derivative instruments to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. Derivatives may involve various risks, including the potential inability of the counterparty to fulfill its obligations under the terms of the contract, the potential for an illiquid secondary market (making it difficult for the Fund to sell or terminate, including at favorable prices) and the potential for market movements which may expose the Fund to gains or losses in excess of the amount shown in the Statement of Assets and Liabilities. The notional exposure of a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument and/or changes in value for the instrument. The notional exposure is a hypothetical underlying quantity upon which payment obligations are computed. Notional exposures provide a gauge for how the Fund may behave given changes in the underlying rate, asset or reference instrument and individual markets. The notional amounts of derivative instruments, if applicable, are not recorded in the financial statements.

A derivative instrument may suffer a marked-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform its obligations under the contract. The Fund's risk of loss from counterparty credit risk on over-the-counter derivatives is generally expected to be limited to the aggregate unrealized gain netted against any collateral held by the Fund and the amount of any variation margin held by the counterparty, plus any replacement costs or related amounts. With

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

exchange-traded or centrally cleared derivatives, there is reduced counterparty credit risk to the Fund since the clearinghouse or central counterparty provides some protection in the case of clearing member default. The clearinghouse stands between the buyer and the seller of the contract; therefore, the primary counterparty credit risk is the risk of failure of the clearinghouse. However, credit risk still exists in exchange-traded and centrally cleared derivatives with respect to any collateral that is held in a broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients and such shortfall is remedied by the central counterparty or otherwise, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the clearing broker's customers (including the Fund) by account class, potentially resulting in losses to the Fund.

In connection with certain over-the-counter derivatives, the Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or similar agreement with its derivatives counterparties. An ISDA Master Agreement is an agreement between the Fund and a counterparty that governs over-the-counter derivatives and foreign exchange forward contracts and contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting), including the bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset or netting in bankruptcy, insolvency or other events.

Collateral (margin) requirements differ by type of derivative. Margin requirements are established by the clearinghouse or central counterparty for exchange-traded and centrally cleared derivatives. Brokers can ask for margin in excess of the minimum in certain circumstances. Collateral terms for most over-the-counter derivatives are subject to regulatory requirements to exchange variation margin with trading counterparties and may have contract specific margin terms as well. For over-the-counter derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the marked-to-market amount for each transaction under such agreement and comparing that amount to the value of any variation margin currently pledged by the Fund and/or the counterparty. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold (e.g., $250,000) before a transfer has to be made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance. The Fund may also pay interest expense on cash collateral received from the broker or receive interest income on cash collateral pledged to the broker. The Fund attempts to mitigate counterparty risk by only entering into agreements with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

Certain ISDA Master Agreements allow counterparties of over-the-counter derivatives transactions to terminate derivatives contracts prior to maturity in the event the Fund's net asset value declines by a stated percentage over a specified time period or if the Fund fails to meet certain terms of the ISDA Master Agreement, which would cause the Fund to accelerate payment of any net liability owed to the counterparty. The Fund also has termination rights if the counterparty fails to meet certain terms of the ISDA Master Agreement. In determining whether to exercise such termination rights, the Fund would consider, in addition to counterparty credit risk, whether termination would result in a net liability owed from the counterparty.

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities.

**Futures contracts**

Futures contracts are exchange-traded and represent commitments for the future purchase or sale of an asset at a specified price on a specified date. The Fund bought and sold futures contracts to manage its exposure to the securities markets or to movements in interest rates and currency values. A Fund invests in futures contracts as part of its primary investment strategy and/or to equitize its cash flows. Investments in futures contracts may increase or decrease exposure to a particular market. These instruments may be used for other purposes in future periods. Upon entering into futures

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

contracts, the Fund bears risks that it may not achieve the anticipated benefits of the futures contracts and may realize a loss. Additional risks include counterparty credit risk, the possibility of an illiquid market, and that a change in the value of the contract or option may not correlate with changes in the value of the underlying asset.

Upon entering into a futures contract, the Fund deposits cash or securities with the broker, known as a futures commission merchant (FCM), in an amount sufficient to meet the initial margin requirement. The initial margin deposit must be maintained at an established level over the life of the contract. Cash deposited as initial margin is recorded in the Statement of Assets and Liabilities as margin deposits. Securities deposited as initial margin are designated in the Portfolio of Investments. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily change in the contract value and are recorded as variation margin receivable or payable and are offset in unrealized gains or losses. The Fund generally expects to earn interest income on its margin deposits. The Fund recognizes a realized gain or loss when the contract is closed or expires. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities.

**Effects of derivative transactions in the financial statements**

The following tables are intended to provide additional information about the effect of derivatives on the financial statements of the Fund, including: the fair value of derivatives by risk category and the location of those fair values in the Statement of Assets and Liabilities; and the impact of derivative transactions over the period in the Statement of Operations, including realized and unrealized gains (losses). The derivative instrument schedules following the Portfolio of Investments present additional information regarding derivative instruments outstanding at the end of the period, if any.

The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Asset derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 634,745<br> \*<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* 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.

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Interest rate risk | &nbsp;&nbsp; (1154011)<br>|
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Interest rate risk | &nbsp;&nbsp; 408389 |

---

The following table is a summary of the average daily outstanding volume by derivative instrument for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — short | 311669871 |

---

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Asset- and mortgage-backed securities** 

The Fund may invest in asset-backed and mortgage-backed securities. The maturity dates shown represent the original maturity of the underlying obligation. Actual maturity may vary based upon prepayment activity on these obligations. All, or a portion, of the obligation may be prepaid at any time because the underlying asset may be prepaid. As a result, decreasing market interest rates could result in an increased level of prepayment. An increased prepayment rate will have the effect of shortening the maturity of the security. Unless otherwise noted, the coupon rates presented are fixed rates.

**Delayed delivery securities**

The Fund may trade securities on other than normal settlement terms, including securities purchased or sold on a "when-issued" or "forward commitment" basis. This may increase risk to the Fund since the other party to the transaction may fail to deliver, which could cause the Fund to subsequently invest at less advantageous prices. The Fund designates cash or liquid securities in an amount equal to the delayed delivery commitment.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted. The Fund classifies gains and losses realized on prepayments received on mortgage-backed securities as adjustments to interest income.

The Fund may place a debt security on non-accrual status and reduce related interest income when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. The Fund may also adjust accrual rates when it becomes probable the full interest will not be collected and a partial payment will be received. A defaulted debt security is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Dividend income is recorded on the ex-dividend date.

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

Columbia Ultra Short Term Bond Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Foreign taxes**

The Fund may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Fund will accrue such taxes and recoveries, as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests.

Realized gains in certain countries may be subject to foreign taxes at the Fund level, based on statutory rates. The Fund accrues for such foreign taxes on realized and unrealized gains at the appropriate rate for each jurisdiction, as applicable. The amount, if any, is disclosed as a liability in the Statement of Assets and Liabilities.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to 0.21% of the Fund's daily net assets.

**Compensation of Board members**

Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund's liability for these amounts is adjusted for market value changes and remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees' fees deferred during the current period as well as any gains or losses on the Trustees' deferred compensation balances as a result of market fluctuations, is included in "Deferred compensation of board members" in the Statement of Operations.

**Compensation of Chief Compliance Officer**

The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer's total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 3 Class shares are subject to an annual limitation of not more than 0.02% of the average daily net assets attributable to Institutional 3 Class shares.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.05 |
| Institutional Class | 0.05 |
| Institutional 3 Class | 0.00 |

---

**Distribution and service fees**

The Fund has entered into an agreement with Columbia Management Investment Distributors, Inc. (the Distributor), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, for distribution and shareholder services. The Board of Trustees has approved, and the Fund has adopted, a distribution and shareholder service plan (the Plan) applicable to Class A shares, which sets the distribution and service fees for the Fund. These fees are calculated daily and are intended to compensate the Distributor and/or eligible selling and/or servicing agents for selling shares of the Fund and providing services to investors.

Under the Plans, the Fund pays a monthly combined distribution and service fee to the Distributor at the maximum annual rate of 0.15% of the average daily net assets attributable to Class A shares of the Fund.

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees for Class A and Institutional Class and permanently for as long as the Investment Manager manages the Fund for Institutional 3 Class, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee rate(s) contractual** <br>**through** <br>**November 30, 2026 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.47 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25 |

---

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 1530106000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1121000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4981000 |

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

The following capital loss carryforwards, determined at July 31, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code.

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1854387)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1854387)<br>|

---

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $819,343,842 and $532,503,521, respectively, for the six months ended January 31, 2026, of which $11,948,721 and $6,163,397, respectively, were U.S. government securities. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Affiliated money market fund

The Fund invests in Columbia Short-Term Cash Fund, an affiliated money market fund established for the exclusive use by the Fund and other affiliated funds (the Affiliated MMF). The income earned by the Fund from such investments is included as Dividends - affiliated issuers in the Statement of Operations. As an investing fund, the Fund indirectly bears its proportionate share of the expenses of the Affiliated MMF. The Affiliated MMF prices its shares with a floating net asset value. The Securities and Exchange Commission has adopted amendments to money market fund rules requiring

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

institutional prime money market funds like the Affiliated MMF to be subject to a discretionary liquidity fee of up to 2% if the imposition of such a fee is determined to be in the best interest of the Affiliated MMF and to a mandatory liquidity fee if daily net redemptions exceed 5% of net assets.

Note 7. Interfund lending

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.

Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager's relationship with each Participating Fund.

The Fund did not borrow or lend money under the Interfund Program during the six months ended January 31, 2026.

Note 8. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 9. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

Columbia Ultra Short Term Bond Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 65.0% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 10. Subsequent events

Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosure.

Note 11. Information regarding pending and settled legal proceedings

Ameriprise Financial and certain of its affiliates are involved, in the normal course of business, in legal proceedings that include regulatory inquiries, arbitration and litigation (including class actions) concerning matters arising in connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund. Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the Securities and Exchange Commission (SEC) on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss that may result from such matters. An adverse outcome in one or more of these proceedings could result in adverse judgments, settlements, fines, penalties or other relief, and may lead to further claims, examinations, adverse publicity or reputational damage, each of which could have a material adverse effect on the consolidated financial condition or results of operations or financial condition of Ameriprise Financial or one or more of its affiliates that provide services to the Fund.

Columbia Ultra Short Term Bond Fund \| 2026

------

**Columbia Ultra Short Term Bond Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g270970imgebef3a312.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR103_07_T01_(03/26)

------

#### Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.

#### Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.

#### Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The fees and expenses of the independent trustees are included in "Compensation of board members" and "Deferred compensation of board members" on each Fund's Statement of Operations as part of the Registrant's financial statements filed under Item 7 of this Form N-CSR. Additionally, the compensation paid by the Trust to the Chief Compliance Officer is included in "Compensation of chief compliance officer" on each Fund's Statement of Operations as part of the Registrant's financial statements filed under Item 7 of this Form N-CSR.

#### Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable.

------

#### Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.

#### Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

#### Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.

#### Item 15. 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 trustees implemented since the registrant last provided disclosure as to such procedures in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K or Item 15 of Form N-CSR.

#### Item 16. 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 effective and 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 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

#### Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.

#### Item 19. Exhibits.
(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR. Not applicable for semiannual reports.

(a)(2) Not applicable.

(a)(3) [Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.](d270970dex99cert.htm)

------

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) attached hereto as Exhibit 99.906CERT.](d270970dex99906cert.htm)

------

#### 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.

#### Columbia Funds Series Trust I

---

| | |
|:---|:---|
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |

---

Date: March 25, 2026

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: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |

---

Date: March 25, 2026

---

| | |
|:---|:---|
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |

---

Date: March 25, 2026

## Ex-99.Cert

**EX-99.CERT SECTION 302 CERTIFICATION** 

I, Michael G. Clarke, certify that:

1. I have reviewed this report on Form N-CSR of Columbia Funds Series Trust I;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any 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; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |
| Date: | March 25, 2026 |

---

------

I, Charles H. Chiesa, certify that:

1. I have reviewed this report on Form N-CSR of Columbia Funds Series Trust I;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any 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; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |
| Date: | March 25, 2026 |

---

## Exhibit 99.906

**EX-99.906 CERT SECTION 906 CERTIFICATION** 

**CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002** 

In connection with the Certified Shareholder Report of Columbia Funds Series Trust I (the "Trust") on Form N-CSR for the period ending January 31, 2026 as filed with the Securities and Exchange Commission on the date hereof ("the Report"), the undersigned hereby certifies that, to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust.

---

| | |
|:---|:---|
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |

---

Date: March 25, 2026

---

| | |
|:---|:---|
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |

---

Date: March 25, 2026

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. §1350 and is not being filed as part of the Form N-CSR with the Commission.