# EDGAR Filing Document

**Accession Number:** 0000773757
**File Stem:** 0001145549-25-045431
**Filing Date:** 2025-7
**Character Count:** 597112
**Document Hash:** 4e2adf31861b53d4425e52bbc4c0ac9f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-045431.hdr.sgml**: 20250702

**ACCESSION NUMBER**: 0001145549-25-045431

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 50

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250702

**DATE AS OF CHANGE**: 20250702

**EFFECTIVENESS DATE**: 20250702

**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-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04367
- **FILM NUMBER:** 251098450

**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 Bond Fund (Series ID: S000012097)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000032983 | Columbia Total Return Bond Fund Class A               | LIBAX           |
| C000032985 | Columbia Total Return Bond Fund Class C               | LIBCX           |
| C000032986 | Columbia Total Return Bond Fund Class R               | CIBRX           |
| C000032987 | Columbia Total Return Bond Fund Institutional Class   | SRBFX           |
| C000121794 | Columbia Total Return Bond Fund Institutional 2 Class | CTBRX           |
| C000122680 | Columbia Total Return Bond Fund Institutional 3 Class | CTBYX           |
| C000255092 | Columbia Total Return Bond Fund - Class S             | SRBAX           |

?xml version='1.0' encoding='ASCII'? 8ddb4a82374895e

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-04367

#### Columbia Funds Series Trust I
(Exact name of registrant as specified in charter)

------

290 Congress Street

Boston, MA 02210

(Address of principal executive offices) (Zip code)

Daniel J. Beckman

c/o Columbia Management Investment Advisers, LLC

290 Congress Street

Boston, MA 02210

Ryan C. Larrenaga, Esq.

c/o Columbia Management Investment Advisers, LLC

290 Congress Street

Boston, MA 02210

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(800) 345-6611

#### Date of fiscal year end:

#### Last Day of April

#### Date of reporting period:

#### April 30, 2025
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders

Columbia Total Return Bond Fund

Class A / LIBAX

![FundLogo](images_1922.jpg)

Annual Shareholder Report \| April 30, 2025

This annual shareholder report contains important information about Columbia Total Return Bond Fund (the Fund) for the period of May 1, 2024 to April 30, 2025. 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 | $77 | 0.73% |

---

Management's Discussion of Fund Performance

The performance of Class A shares for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

**Duration** \| Duration and curve positioning contributed materially to Fund performance as Treasury yields dropped over the period, especially in the short and intermediate parts of the Treasury curve, which is where the portfolio held the majority of its duration risk.

**Sector Allocations** \| Positive contributions to the Fund's performance were driven by an overweight to agency residential mortgages and exposure to non-agency residential mortgages. Also, underweights to Treasuries and investment-grade corporates contributed to performance.

**Security Selection** \| Security selection was also a positive contributor to performance, with contributions coming from agency residential mortgages, investment-grade corporates and asset-backed securities.

Top Performance Detractors

**Sector Allocations** \| While overall sector allocations contributed to performance, exposure to high-yield corporates and commercial mortgage-backed securities detracted somewhat from Fund performance during the period.

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in Class A shares of the Fund during the stated time period.

Growth of $10,000

![Fund Performance - Growth of 10K](chartimages_3637541.jpg)

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class A (excluding sales charges) (a) | 10.31 | 0.87 | 2.10 |
| Class A (including sales charges) (a) | 7.00 | 0.25 | 1.78 |
| Bloomberg U.S. Aggregate Bond Index | 8.02 | (0.67) | 1.54 |

---

<u><sup>(a)</sup></u> <u>The Fund's performance prior to February 2016 reflects returns achieved pursuant to different principal investment strategies. If the Fund's current strategies had been in place for the prior periods, results shown may have been different.</u>

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/mutual-funds for more recent performance information.

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2746727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Management services fees<br>(represents 0.48% of Fund average net assets) | &nbsp;&nbsp;&nbsp;&nbsp;$13578390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period | &nbsp;&nbsp;&nbsp;&nbsp;229% |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period excluding to be announced (TBA) securities | &nbsp;&nbsp;&nbsp;&nbsp;69% |

---

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.

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody's Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P or Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as "Not rated." Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily.

Derivative Exposure

---

| | |
|:---|:---|
|  | **Long** |
| Credit Risk | 2.5% |
| Interest Rate Risk | 45.2% |
|  | **Short** |
| Credit Risk | 1.3% |
| Interest Rate Risk | 29.8% |

---

Asset Categories

![Graphical Representation - Allocation 1 Chart](chartimages_3637542.jpg)

Credit Quality

![Graphical Representation - Allocation 2 Chart](chartimages_3637550.jpg)

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.

![TSR - QR Code](images_1926.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. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

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

Columbia Total Return Bond Fund \| Class A \| ASR166_01_(06/25)

Columbia Total Return Bond Fund

Class C / LIBCX

![FundLogo](images_1922.jpg)

Annual Shareholder Report \| April 30, 2025

This annual shareholder report contains important information about Columbia Total Return Bond Fund (the Fund) for the period of May 1, 2024 to April 30, 2025. 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 | $155 | 1.48% |

---

Management's Discussion of Fund Performance

The performance of Class C shares for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

**Duration** \| Duration and curve positioning contributed materially to Fund performance as Treasury yields dropped over the period, especially in the short and intermediate parts of the Treasury curve, which is where the portfolio held the majority of its duration risk.

**Sector Allocations** \| Positive contributions to the Fund's performance were driven by an overweight to agency residential mortgages and exposure to non-agency residential mortgages. Also, underweights to Treasuries and investment-grade corporates contributed to performance.

**Security Selection** \| Security selection was also a positive contributor to performance, with contributions coming from agency residential mortgages, investment-grade corporates and asset-backed securities.

Top Performance Detractors

**Sector Allocations** \| While overall sector allocations contributed to performance, exposure to high-yield corporates and commercial mortgage-backed securities detracted somewhat from Fund performance during the period.

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in Class C shares of the Fund during the stated time period.

Growth of $10,000

![Fund Performance - Growth of 10K](chartimages_3637532.jpg)

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class C (excluding sales charges) (a) | 9.49 | 0.12 | 1.34 |
| Class C (including sales charges) (a) | 8.49 | 0.12 | 1.34 |
| Bloomberg U.S. Aggregate Bond Index | 8.02 | (0.67) | 1.54 |

---

<u><sup>(a)</sup></u> <u>The Fund's performance prior to February 2016 reflects returns achieved pursuant to different principal investment strategies. If the Fund's current strategies had been in place for the prior periods, results shown may have been different.</u>

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/mutual-funds for more recent performance information.

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2746727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Management services fees<br>(represents 0.48% of Fund average net assets) | &nbsp;&nbsp;&nbsp;&nbsp;$13578390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period | &nbsp;&nbsp;&nbsp;&nbsp;229% |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period excluding to be announced (TBA) securities | &nbsp;&nbsp;&nbsp;&nbsp;69% |

---

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.

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody's Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P or Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as "Not rated." Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily.

Derivative Exposure

---

| | |
|:---|:---|
|  | **Long** |
| Credit Risk | 2.5% |
| Interest Rate Risk | 45.2% |
|  | **Short** |
| Credit Risk | 1.3% |
| Interest Rate Risk | 29.8% |

---

Asset Categories

![Graphical Representation - Allocation 1 Chart](chartimages_3637533.jpg)

Credit Quality

![Graphical Representation - Allocation 2 Chart](chartimages_3637529.jpg)

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.

![TSR - QR Code](images_1926.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. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

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

Columbia Total Return Bond Fund \| Class C \| ASR166_04_(06/25)

Columbia Total Return Bond Fund

Institutional Class / SRBFX

![FundLogo](images_1922.jpg)

Annual Shareholder Report \| April 30, 2025

This annual shareholder report contains important information about Columbia Total Return Bond Fund (the Fund) for the period of May 1, 2024 to April 30, 2025. 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 | $52 | 0.49% |

---

Management's Discussion of Fund Performance

The performance of Institutional Class shares for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

**Duration** \| Duration and curve positioning contributed materially to Fund performance as Treasury yields dropped over the period, especially in the short and intermediate parts of the Treasury curve, which is where the portfolio held the majority of its duration risk.

**Sector Allocations** \| Positive contributions to the Fund's performance were driven by an overweight to agency residential mortgages and exposure to non-agency residential mortgages. Also, underweights to Treasuries and investment-grade corporates contributed to performance.

**Security Selection** \| Security selection was also a positive contributor to performance, with contributions coming from agency residential mortgages, investment-grade corporates and asset-backed securities.

Top Performance Detractors

**Sector Allocations** \| While overall sector allocations contributed to performance, exposure to high-yield corporates and commercial mortgage-backed securities detracted somewhat from Fund performance during the period.

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in Institutional Class shares of the Fund during the stated time period.

Growth of $10,000

![Fund Performance - Growth of 10K](chartimages_3637451.jpg)

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional Class(a) | 10.58 | 1.13 | 2.35 |
| Bloomberg U.S. Aggregate Bond Index | 8.02 | (0.67) | 1.54 |

---

<u><sup>(a)</sup></u> <u>The Fund's performance prior to February 2016 reflects returns achieved pursuant to different principal investment strategies. If the Fund's current strategies had been in place for the prior periods, results shown may have been different.</u>

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/mutual-funds for more recent performance information.

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2746727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Management services fees<br>(represents 0.48% of Fund average net assets) | &nbsp;&nbsp;&nbsp;&nbsp;$13578390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period | &nbsp;&nbsp;&nbsp;&nbsp;229% |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period excluding to be announced (TBA) securities | &nbsp;&nbsp;&nbsp;&nbsp;69% |

---

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.

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody's Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P or Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as "Not rated." Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily.

Derivative Exposure

---

| | |
|:---|:---|
|  | **Long** |
| Credit Risk | 2.5% |
| Interest Rate Risk | 45.2% |
|  | **Short** |
| Credit Risk | 1.3% |
| Interest Rate Risk | 29.8% |

---

Asset Categories

![Graphical Representation - Allocation 1 Chart](chartimages_3637452.jpg)

Credit Quality

![Graphical Representation - Allocation 2 Chart](chartimages_3637460.jpg)

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.

![TSR - QR Code](images_1926.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. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

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

Columbia Total Return Bond Fund \| Institutional Class \| ASR166_08_(06/25)

Columbia Total Return Bond Fund

Institutional 2 Class / CTBRX

![FundLogo](images_1922.jpg)

Annual Shareholder Report \| April 30, 2025

This annual shareholder report contains important information about Columbia Total Return Bond Fund (the Fund) for the period of May 1, 2024 to April 30, 2025. 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 | $43 | 0.41% |

---

Management's Discussion of Fund Performance

The performance of Institutional 2 Class shares for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

**Duration** \| Duration and curve positioning contributed materially to Fund performance as Treasury yields dropped over the period, especially in the short and intermediate parts of the Treasury curve, which is where the portfolio held the majority of its duration risk.

**Sector Allocations** \| Positive contributions to the Fund's performance were driven by an overweight to agency residential mortgages and exposure to non-agency residential mortgages. Also, underweights to Treasuries and investment-grade corporates contributed to performance.

**Security Selection** \| Security selection was also a positive contributor to performance, with contributions coming from agency residential mortgages, investment-grade corporates and asset-backed securities.

Top Performance Detractors

**Sector Allocations** \| While overall sector allocations contributed to performance, exposure to high-yield corporates and commercial mortgage-backed securities detracted somewhat from Fund performance during the period.

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in Institutional 2 Class shares of the Fund during the stated time period.

Growth of $10,000

![Fund Performance - Growth of 10K](chartimages_3637481.jpg)

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 2 Class(a) | 10.67 | 1.19 | 2.42 |
| Bloomberg U.S. Aggregate Bond Index | 8.02 | (0.67) | 1.54 |

---

<u><sup>(a)</sup></u> <u>The Fund's performance prior to February 2016 reflects returns achieved pursuant to different principal investment strategies. If the Fund's current strategies had been in place for the prior periods, results shown may have been different.</u>

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/mutual-funds for more recent performance information.

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2746727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Management services fees<br>(represents 0.48% of Fund average net assets) | &nbsp;&nbsp;&nbsp;&nbsp;$13578390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period | &nbsp;&nbsp;&nbsp;&nbsp;229% |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period excluding to be announced (TBA) securities | &nbsp;&nbsp;&nbsp;&nbsp;69% |

---

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.

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody's Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P or Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as "Not rated." Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily.

Derivative Exposure

---

| | |
|:---|:---|
|  | **Long** |
| Credit Risk | 2.5% |
| Interest Rate Risk | 45.2% |
|  | **Short** |
| Credit Risk | 1.3% |
| Interest Rate Risk | 29.8% |

---

Asset Categories

![Graphical Representation - Allocation 1 Chart](chartimages_3637482.jpg)

Credit Quality

![Graphical Representation - Allocation 2 Chart](chartimages_3637490.jpg)

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.

![TSR - QR Code](images_1926.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. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

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

Columbia Total Return Bond Fund \| Institutional 2 Class \| ASR166_15_(06/25)

Columbia Total Return Bond Fund

Institutional 3 Class / CTBYX

![FundLogo](images_1922.jpg)

Annual Shareholder Report \| April 30, 2025

This annual shareholder report contains important information about Columbia Total Return Bond Fund (the Fund) for the period of May 1, 2024 to April 30, 2025. 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 | $40 | 0.38% |

---

Management's Discussion of Fund Performance

The performance of Institutional 3 Class shares for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

**Duration** \| Duration and curve positioning contributed materially to Fund performance as Treasury yields dropped over the period, especially in the short and intermediate parts of the Treasury curve, which is where the portfolio held the majority of its duration risk.

**Sector Allocations** \| Positive contributions to the Fund's performance were driven by an overweight to agency residential mortgages and exposure to non-agency residential mortgages. Also, underweights to Treasuries and investment-grade corporates contributed to performance.

**Security Selection** \| Security selection was also a positive contributor to performance, with contributions coming from agency residential mortgages, investment-grade corporates and asset-backed securities.

Top Performance Detractors

**Sector Allocations** \| While overall sector allocations contributed to performance, exposure to high-yield corporates and commercial mortgage-backed securities detracted somewhat from Fund performance during the period.

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in Institutional 3 Class shares of the Fund during the stated time period.

Growth of $10,000

![Fund Performance - Growth of 10K](chartimages_3637472.jpg)

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Institutional 3 Class (a) | 10.70 | 1.23 | 2.47 |
| Bloomberg U.S. Aggregate Bond Index | 8.02 | (0.67) | 1.54 |

---

<u><sup>(a)</sup></u> <u>The Fund's performance prior to February 2016 reflects returns achieved pursuant to different principal investment strategies. If the Fund's current strategies had been in place for the prior periods, results shown may have been different.</u>

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/mutual-funds for more recent performance information.

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2746727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Management services fees<br>(represents 0.48% of Fund average net assets) | &nbsp;&nbsp;&nbsp;&nbsp;$13578390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period | &nbsp;&nbsp;&nbsp;&nbsp;229% |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period excluding to be announced (TBA) securities | &nbsp;&nbsp;&nbsp;&nbsp;69% |

---

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.

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody's Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P or Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as "Not rated." Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily.

Derivative Exposure

---

| | |
|:---|:---|
|  | **Long** |
| Credit Risk | 2.5% |
| Interest Rate Risk | 45.2% |
|  | **Short** |
| Credit Risk | 1.3% |
| Interest Rate Risk | 29.8% |

---

Asset Categories

![Graphical Representation - Allocation 1 Chart](chartimages_3637473.jpg)

Credit Quality

![Graphical Representation - Allocation 2 Chart](chartimages_3637469.jpg)

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.

![TSR - QR Code](images_1926.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. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

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

Columbia Total Return Bond Fund \| Institutional 3 Class \| ASR166_17_(06/25)

Columbia Total Return Bond Fund

Class R / CIBRX

![FundLogo](images_1922.jpg)

Annual Shareholder Report \| April 30, 2025

This annual shareholder report contains important information about Columbia Total Return Bond Fund (the Fund) for the period of May 1, 2024 to April 30, 2025. 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 | $103 | 0.98% |

---

Management's Discussion of Fund Performance

The performance of Class R shares for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

**Duration** \| Duration and curve positioning contributed materially to Fund performance as Treasury yields dropped over the period, especially in the short and intermediate parts of the Treasury curve, which is where the portfolio held the majority of its duration risk.

**Sector Allocations** \| Positive contributions to the Fund's performance were driven by an overweight to agency residential mortgages and exposure to non-agency residential mortgages. Also, underweights to Treasuries and investment-grade corporates contributed to performance.

**Security Selection** \| Security selection was also a positive contributor to performance, with contributions coming from agency residential mortgages, investment-grade corporates and asset-backed securities.

Top Performance Detractors

**Sector Allocations** \| While overall sector allocations contributed to performance, exposure to high-yield corporates and commercial mortgage-backed securities detracted somewhat from Fund performance during the period.

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in Class R shares of the Fund during the stated time period.

Growth of $10,000

![Fund Performance - Growth of 10K](chartimages_3637512.jpg)

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class R (a) | 10.04 | 0.63 | 1.84 |
| Bloomberg U.S. Aggregate Bond Index | 8.02 | (0.67) | 1.54 |

---

<u><sup>(a)</sup></u> <u>The Fund's performance prior to February 2016 reflects returns achieved pursuant to different principal investment strategies. If the Fund's current strategies had been in place for the prior periods, results shown may have been different.</u>

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/mutual-funds for more recent performance information.

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2746727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Management services fees<br>(represents 0.48% of Fund average net assets) | &nbsp;&nbsp;&nbsp;&nbsp;$13578390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period | &nbsp;&nbsp;&nbsp;&nbsp;229% |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period excluding to be announced (TBA) securities | &nbsp;&nbsp;&nbsp;&nbsp;69% |

---

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.

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody's Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P or Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as "Not rated." Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily.

Derivative Exposure

---

| | |
|:---|:---|
|  | **Long** |
| Credit Risk | 2.5% |
| Interest Rate Risk | 45.2% |
|  | **Short** |
| Credit Risk | 1.3% |
| Interest Rate Risk | 29.8% |

---

Asset Categories

![Graphical Representation - Allocation 1 Chart](chartimages_3637520.jpg)

Credit Quality

![Graphical Representation - Allocation 2 Chart](chartimages_3637521.jpg)

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.

![TSR - QR Code](images_1926.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. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

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

Columbia Total Return Bond Fund \| Class R \| ASR166_12_(06/25)

Columbia Total Return Bond Fund

Class S / SRBAX

![FundLogo](images_1922.jpg)

Annual Shareholder Report \| April 30, 2025

This annual shareholder report contains important information about Columbia Total Return Bond Fund (the Fund) for the period of October 2, 2024 to April 30, 2025. 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 |
| Class S $28<sup>(a)</sup> 0.49%<sup>(b)</sup> |

---

*(a)* <sup>Based on operations from October 2, 2024 (commencement of operations) through the stated period end. Had the class been open for the entire reporting period, expenses shown in the table above would have been higher.</sup>

*(b)* <sup>Annualized.</sup>

Management's Discussion of Fund Performance

The performance of Class S shares for the period presented is shown in the Average Annual Total Returns table.

Top Performance Contributors

**Duration** \| Duration and curve positioning contributed materially to Fund performance as Treasury yields dropped over the period, especially in the short and intermediate parts of the Treasury curve, which is where the portfolio held the majority of its duration risk.

**Sector Allocations** \| Positive contributions to the Fund's performance were driven by an overweight to agency residential mortgages and exposure to non-agency residential mortgages. Also, underweights to Treasuries and investment-grade corporates contributed to performance.

**Security Selection** \| Security selection was also a positive contributor to performance, with contributions coming from agency residential mortgages, investment-grade corporates and asset-backed securities.

Top Performance Detractors

**Sector Allocations** \| While overall sector allocations contributed to performance, exposure to high-yield corporates and commercial mortgage-backed securities detracted somewhat from Fund performance during the period.

Fund Performance

The following shows the change in value of a hypothetical $10,000 investment in Class S shares of the Fund during the stated time period.

Growth of $10,000

![Fund Performance - Growth of 10K](chartimages_3637442.jpg)

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns (%) | 1 year | 5 years | 10 years |
| Class S (a),(b) | 10.56 | 1.13 | 2.35 |
| Bloomberg U.S. Aggregate Bond Index | 8.02 | (0.67) | 1.54 |

---

<sup>(a)</sup> The returns shown for periods prior to October 2, 2024 (including Since Fund Inception returns, if shown) include the returns of Institutional Class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investment-products/mutual-funds/appended-performance for more information.

<sup>(b)</sup> The Fund's performance prior to February 2016 reflects returns achieved pursuant to different principal investment strategies. If the Fund's current strategies had been in place for the prior periods, results shown may have been different.

The Fund's past performance is not a good predictor of the Fund's future performance. Performance does not reflect the deduction of taxes that a shareholder may pay on fund distributions or on the redemptions of fund shares. Performance results reflect the effect of any fee waivers/expense reimbursements, if applicable. All results shown assume reinvestment of distributions. Visit columbiathreadneedleus.com/investment-products/mutual-funds for more recent performance information.

Key Fund Statistics

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Fund net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2746727319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total number of portfolio holdings | &nbsp;&nbsp;&nbsp;&nbsp;1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Management services fees<br>(represents 0.48% of Fund average net assets) | &nbsp;&nbsp;&nbsp;&nbsp;$13578390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period | &nbsp;&nbsp;&nbsp;&nbsp;229% |
| &nbsp;&nbsp;&nbsp;&nbsp;Portfolio turnover for the reporting period excluding to be announced (TBA) securities | &nbsp;&nbsp;&nbsp;&nbsp;69% |

---

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.

Bond ratings on Fund holdings are divided into categories ranging from highest to lowest credit quality, determined by using the middle rating of Moody's Ratings, S&P and Fitch, after dropping the highest and lowest available ratings. When ratings are available from only two rating agencies, the lower rating is used. When a rating is available from only one rating agency, that rating is used. If a security is not rated by Moody's Ratings, S&P or Fitch, but has a rating by Kroll and/or DBRS, the same methodology is applied to those bonds that would otherwise be not rated. When a bond is not rated by any rating agency, it is designated as "Not rated." Credit quality ratings assigned by a rating agency are subjective opinions, not statements of fact, and are subject to change, including daily.

Derivative Exposure

---

| | |
|:---|:---|
|  | **Long** |
| Credit Risk | 2.5% |
| Interest Rate Risk | 45.2% |
|  | **Short** |
| Credit Risk | 1.3% |
| Interest Rate Risk | 29.8% |

---

Asset Categories

![Graphical Representation - Allocation 1 Chart](chartimages_3637443.jpg)

Credit Quality

![Graphical Representation - Allocation 2 Chart](chartimages_3637439.jpg)

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.

![TSR - QR Code](images_1926.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. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

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

Columbia Total Return Bond Fund \| Class S \| ASR166_16_(06/25)

------

Item 2. Code of Ethics.

The registrant has adopted a code of ethics (the "Code") that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. During the period covered by this report, there were not any amendments to a provision of the Code that relates to any element of the code of ethics definition enumerated in paragraph (b) of Item 2 of Form N-CSR. During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the Code that relates to one or more of the items set forth in paragraph (b) of Item 2 of Form N-CSR. A copy of the Code is attached hereto.

------

Item 3. Audit Committee Financial Expert.

The registrant's Board of Trustees has determined that J. Kevin Connaughton, Brian J. Gallagher, Douglas A. Hacker, David M. Moffett and Sandra L. Yeager qualify as "audit committee financial experts," as such term is defined in Form N-CSR. Mr. Connaughton, Mr. Gallagher, Mr. Hacker, Mr. Moffett and Ms. Yeager, are also each "independent" members of the Audit Committee pursuant to paragraph (a)(2) of Item 3 of Form N-CSR.

------

Item 4. Principal Accountant Fees and Services.

The Registrant has engaged its principal accountant to perform audit services, audit-related services, tax services and other services during the past two fiscal years. The following table details the aggregate fees billed or expected to be billed for each of the last two fiscal years for the series of the relevant registrant whose reports to shareholders are included in this annual filing.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Amount billed to the registrant ($)** | &nbsp;&nbsp;**Amount billed to the registrant ($)** | &nbsp;&nbsp;**Amount billed to the registrant's <br> investment advisor ($)** | &nbsp;&nbsp;**Amount billed to the registrant's <br> investment advisor ($)** |
|  | &nbsp;&nbsp;**April 30, 2025** | &nbsp;&nbsp;**April 30, 2024** | &nbsp;&nbsp;**April 30, 2025** | &nbsp;&nbsp;**April 30, 2024** |
| &nbsp;&nbsp;Audit fees <sup>(a)</sup> | &nbsp;&nbsp;53232 | &nbsp;&nbsp;52005 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Audit-related fees <sup>(b)</sup> | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Tax fees <sup>(c)</sup> | &nbsp;&nbsp;16420 | &nbsp;&nbsp;12850 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;All other fees <sup>(d)</sup> | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Non-audit fees <sup>(g)</sup> | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;474000 | &nbsp;&nbsp;581000 |

---

(a) Audit Fees include amounts related to the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.

(b) Audit-Related Fees include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.

(c) Tax Fees include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice, tax planning and foreign tax filings, if applicable.

(d) All Other Fees include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above and typically include SOC-1 reviews.

(e)(1) Audit Committee Pre-Approval Policies and Procedures

The registrant's Audit Committee is required to pre-approve the engagement of the registrant's independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the "Adviser") or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a "Control Affiliate") if the engagement relates directly to the operations and financial reporting of the registrant.

The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the "Policy"). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant's independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant ("Fund Services"); (ii) non-audit services to the registrant's Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund ("Fund-related Adviser Services"); and (iii) certain other audit and non-audit services to the registrant's Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund's independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC's rules are met.

Under the Policy, the Audit Committee may delegate pre-approval authority to any pre-designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre-approval decisions to the Audit Committee at its next regular meeting. The Audit Committee's responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.

On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund's Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre-approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre-approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.

The Fund's Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre-approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.

(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).

(f) Not applicable.

(g) The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant.

(h) The registrant's Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant's adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

------

Item 5. Audit Committee of Listed Registrants.

Not applicable.

------

Item 6. Investments.

(a) The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 7 of this Form N-CSR.

(b) Not applicable.

------

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

------

![](img8c87fc651.jpg)

Columbia Total Return Bond Fund

**Annual Financial Statements and Additional Information**

April 30, 2025

---

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

---

------

**Table of Contents**

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_POI-CommonContent-Date-86_1) | 3 |
| [Statement of Assets and Liabilities](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_FS-CommonContent-Date-86_1) | 42 |
| [Statement of Operations](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_FS-CommonContent-Date-86_3) | 44 |
| [Statement of Changes in Net Assets](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_FS-CommonContent-Date-86_5) | 46 |
| [Financial Highlights](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_FIHI-CommonContent-Date-86_1) | 48 |
| [Notes to Financial Statements](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_NTF-CommonContent-Date-86_1) | 52 |
| [Report of Independent Registered Public Accounting Firm](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_AUD-CommonContent-Date-86_1) | 72 |
| [Federal Income Tax Information](#xx_3b62e326-5b6f-4221-b581-9969bd57777f_CCH-CommonContent-Date-86_1) | 73 |

---

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments

April 30, 2025

(Percentages represent value of investments compared to net assets)

**Investments in securities**

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency 14.7%** | **Asset-Backed Securities - Non-Agency 14.7%** | **Asset-Backed Securities - Non-Agency 14.7%** | **Asset-Backed Securities - Non-Agency 14.7%** |
| **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>  |
| 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% | 1339694 | &nbsp;&nbsp; 1354209 |
| 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 2023-2A Class A | Series 2023-2A Class A | Series 2023-2A Class A | Series 2023-2A Class A |
| 06/20/2030 | &nbsp;&nbsp; 7.970% | 168149 | &nbsp;&nbsp; 168365 |
| 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% | 6970156 | &nbsp;&nbsp; 6986151 |
| 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 2023-B Class 1A | Series 2023-B Class 1A | Series 2023-B Class 1A | Series 2023-B Class 1A |
| 09/15/2028 | &nbsp;&nbsp; 6.820% | 14800000 | &nbsp;&nbsp; 14926506 |
| Series 2023-B Class A | Series 2023-B Class A | Series 2023-B Class A | Series 2023-B Class A |
| 09/15/2028 | &nbsp;&nbsp; 6.820% | 8550000 | &nbsp;&nbsp; 8623083 |
| 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% | 5452450 | &nbsp;&nbsp; 5452711 |
| Subordinated Series 2023-B Class C | Subordinated Series 2023-B Class C | Subordinated Series 2023-B Class C | Subordinated Series 2023-B Class C |
| 09/15/2028 | &nbsp;&nbsp; 7.810% | 7000000 | &nbsp;&nbsp; 7062865 |
| ARAIT<sup>(a),(b),(c)</sup>  | ARAIT<sup>(a),(b),(c)</sup>  | ARAIT<sup>(a),(b),(c)</sup>  | ARAIT<sup>(a),(b),(c)</sup>  |
| Series 2025-1 Class A | Series 2025-1 Class A | Series 2025-1 Class A | Series 2025-1 Class A |
| 1-month Term SOFR + 2.350% <br>Floor 3.000% <br>03/29/2029<br>| &nbsp;&nbsp; 6.674% | 12000000 | &nbsp;&nbsp; 12000000 |
| Atrium XIII<sup>(a),(c)</sup>  | Atrium XIII<sup>(a),(c)</sup>  | Atrium XIII<sup>(a),(c)</sup>  | Atrium XIII<sup>(a),(c)</sup>  |
| Series 2013A Class B | Series 2013A Class B | Series 2013A Class B | Series 2013A Class B |
| 3-month Term SOFR + 1.762% <br>Floor 1.500% <br>11/21/2030<br>| &nbsp;&nbsp; 6.041% | 2250000 | &nbsp;&nbsp; 2246625 |
| Bain Capital Credit CLO<sup>(a),(c)</sup>  | Bain Capital Credit CLO<sup>(a),(c)</sup>  | Bain Capital Credit CLO<sup>(a),(c)</sup>  | Bain Capital Credit CLO<sup>(a),(c)</sup>  |
| Series 2018-2A Class A1R | Series 2018-2A Class A1R | Series 2018-2A Class A1R | Series 2018-2A Class A1R |
| 3-month Term SOFR + 1.080% <br>Floor 1.080% <br>07/19/2031<br>| &nbsp;&nbsp; 5.350% | 5014300 | &nbsp;&nbsp; 5009261 |
| Cent CLO Ltd.<sup>(a),(c)</sup>  | Cent CLO Ltd.<sup>(a),(c)</sup>  | Cent CLO Ltd.<sup>(a),(c)</sup>  | Cent CLO Ltd.<sup>(a),(c)</sup>  |
| Series 2018-C17A Class A2R | Series 2018-C17A Class A2R | Series 2018-C17A Class A2R | Series 2018-C17A Class A2R |
| 3-month Term SOFR + 1.862% <br>Floor 1.600% <br>04/30/2031<br>| &nbsp;&nbsp; 6.141% | 9300000 | &nbsp;&nbsp; 9304232 |
| Citizens Auto Receivables Trust<sup>(a)</sup>  | Citizens Auto Receivables Trust<sup>(a)</sup>  | Citizens Auto Receivables Trust<sup>(a)</sup>  | Citizens Auto Receivables Trust<sup>(a)</sup>  |
| Series 2024-1 Class A2A | Series 2024-1 Class A2A | Series 2024-1 Class A2A | Series 2024-1 Class A2A |
| 10/15/2026 | &nbsp;&nbsp; 5.430% | 3818462 | &nbsp;&nbsp; 3821905 |
| Dryden Senior Loan Fund<sup>(a),(c)</sup>  | Dryden Senior Loan Fund<sup>(a),(c)</sup>  | Dryden Senior Loan Fund<sup>(a),(c)</sup>  | Dryden Senior Loan Fund<sup>(a),(c)</sup>  |
| Series 2015-41A Class AR | Series 2015-41A Class AR | Series 2015-41A Class AR | Series 2015-41A Class AR |
| 3-month Term SOFR + 1.232% <br>Floor 0.970% <br>04/15/2031<br>| &nbsp;&nbsp; 5.488% | 3387636 | &nbsp;&nbsp; 3386799 |
| DT Auto Owner Trust<sup>(a)</sup>  | DT Auto Owner Trust<sup>(a)</sup>  | DT Auto Owner Trust<sup>(a)</sup>  | DT Auto Owner Trust<sup>(a)</sup>  |
| Subordinated Series 2023-3A Class B | Subordinated Series 2023-3A Class B | Subordinated Series 2023-3A Class B | Subordinated Series 2023-3A Class B |
| 03/15/2028 | &nbsp;&nbsp; 6.070% | 15200000 | &nbsp;&nbsp; 15308051 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| EDGEX Issuer Trust<sup>(a)</sup>  | EDGEX Issuer Trust<sup>(a)</sup>  | EDGEX Issuer Trust<sup>(a)</sup>  | EDGEX Issuer Trust<sup>(a)</sup>  |
| Series 2025-1NN Class A | Series 2025-1NN Class A | Series 2025-1NN Class A | Series 2025-1NN Class A |
| 01/15/2031 | &nbsp;&nbsp; 5.410% | 11000000 | &nbsp;&nbsp; 11022114 |
| EDGEX Issuer Trust<sup>(a),(d)</sup>  | EDGEX Issuer Trust<sup>(a),(d)</sup>  | EDGEX Issuer Trust<sup>(a),(d)</sup>  | EDGEX Issuer Trust<sup>(a),(d)</sup>  |
| Series 2025-1NN Class CERT | Series 2025-1NN Class CERT | Series 2025-1NN Class CERT | Series 2025-1NN Class CERT |
| 01/15/2031 | &nbsp;&nbsp; 0.000% | 4000000 | &nbsp;&nbsp; 3907120 |
| Exeter Automobile Receivables Trust<sup>(a)</sup>  | Exeter Automobile Receivables Trust<sup>(a)</sup>  | Exeter Automobile Receivables Trust<sup>(a)</sup>  | Exeter Automobile Receivables Trust<sup>(a)</sup>  |
| Subordinated Series 2021-2A Class E | Subordinated Series 2021-2A Class E | Subordinated Series 2021-2A Class E | Subordinated Series 2021-2A Class E |
| 07/17/2028 | &nbsp;&nbsp; 2.900% | 6000000 | &nbsp;&nbsp; 5872386 |
| Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| Subordinated Series 2023-3A Class B | Subordinated Series 2023-3A Class B | Subordinated Series 2023-3A Class B | Subordinated Series 2023-3A Class B |
| 09/15/2027 | &nbsp;&nbsp; 6.110% | 1053938 | &nbsp;&nbsp; 1055234 |
| FHF Issuer Trust<sup>(a)</sup>  | FHF Issuer Trust<sup>(a)</sup>  | FHF Issuer Trust<sup>(a)</sup>  | FHF Issuer Trust<sup>(a)</sup>  |
| Series 2024-3A Class A2 | Series 2024-3A Class A2 | Series 2024-3A Class A2 | Series 2024-3A Class A2 |
| 11/15/2030 | &nbsp;&nbsp; 4.940% | 11571671 | &nbsp;&nbsp; 11659875 |
| Flagship Credit Auto Trust<sup>(a)</sup>  | Flagship Credit Auto Trust<sup>(a)</sup>  | Flagship Credit Auto Trust<sup>(a)</sup>  | Flagship Credit Auto Trust<sup>(a)</sup>  |
| Series 2024-3 Class A | Series 2024-3 Class A | Series 2024-3 Class A | Series 2024-3 Class A |
| 11/15/2028 | &nbsp;&nbsp; 4.880% | 5664362 | &nbsp;&nbsp; 5682420 |
| 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% | 5968302 | &nbsp;&nbsp; 6036330 |
| Series 2024-4A Class A2 | Series 2024-4A Class A2 | Series 2024-4A Class A2 | Series 2024-4A Class A2 |
| 12/17/2029 | &nbsp;&nbsp; 4.430% | 9250179 | &nbsp;&nbsp; 9274442 |
| GreenSky Home Improvement Trust<sup>(a)</sup>  | GreenSky Home Improvement Trust<sup>(a)</sup>  | GreenSky Home Improvement Trust<sup>(a)</sup>  | GreenSky Home Improvement Trust<sup>(a)</sup>  |
| Series 2024-1 Class A2 | Series 2024-1 Class A2 | Series 2024-1 Class A2 | Series 2024-1 Class A2 |
| 06/25/2059 | &nbsp;&nbsp; 5.880% | 4260556 | &nbsp;&nbsp; 4308275 |
| Marlette Funding Trust<sup>(a)</sup>  | Marlette Funding Trust<sup>(a)</sup>  | Marlette Funding Trust<sup>(a)</sup>  | Marlette Funding Trust<sup>(a)</sup>  |
| Subordinated Series 2022-2A Class C | Subordinated Series 2022-2A Class C | Subordinated Series 2022-2A Class C | Subordinated Series 2022-2A Class C |
| 08/15/2032 | &nbsp;&nbsp; 6.140% | 1969749 | &nbsp;&nbsp; 1972483 |
| Subordinated Series 2023-2A Class C | Subordinated Series 2023-2A Class C | Subordinated Series 2023-2A Class C | Subordinated Series 2023-2A Class C |
| 06/15/2033 | &nbsp;&nbsp; 6.960% | 5500000 | &nbsp;&nbsp; 5549419 |
| MPOWER Education Trust<sup>(a),(e)</sup>  | MPOWER Education Trust<sup>(a),(e)</sup>  | MPOWER Education Trust<sup>(a),(e)</sup>  | MPOWER Education Trust<sup>(a),(e)</sup>  |
| Series 2025-A Class A | Series 2025-A Class A | Series 2025-A Class A | Series 2025-A Class A |
| 07/21/2042 | &nbsp;&nbsp; 6.620% | 5500000 | &nbsp;&nbsp; 5489651 |
| Netcredit Combined Receivables LLC<sup>(a)</sup>  | Netcredit Combined Receivables LLC<sup>(a)</sup>  | Netcredit Combined Receivables LLC<sup>(a)</sup>  | Netcredit Combined Receivables LLC<sup>(a)</sup>  |
| Series 2023-A Class A | Series 2023-A Class A | Series 2023-A Class A | Series 2023-A Class A |
| 12/20/2027 | &nbsp;&nbsp; 7.780% | 1478555 | &nbsp;&nbsp; 1490105 |
| NetCredit Combined Receivables LLC<sup>(a)</sup>  | NetCredit Combined Receivables LLC<sup>(a)</sup>  | NetCredit Combined Receivables LLC<sup>(a)</sup>  | NetCredit Combined Receivables LLC<sup>(a)</sup>  |
| Series 2024-A Class A | Series 2024-A Class A | Series 2024-A Class A | Series 2024-A Class A |
| 10/21/2030 | &nbsp;&nbsp; 7.430% | 2961977 | &nbsp;&nbsp; 2977710 |
| Octagon Investment Partners 35 Ltd.<sup>(a),(c)</sup>  | Octagon Investment Partners 35 Ltd.<sup>(a),(c)</sup>  | Octagon Investment Partners 35 Ltd.<sup>(a),(c)</sup>  | Octagon Investment Partners 35 Ltd.<sup>(a),(c)</sup>  |
| Series 2018-1A Class A2 | Series 2018-1A Class A2 | Series 2018-1A Class A2 | Series 2018-1A Class A2 |
| 3-month Term SOFR + 1.662% <br>Floor 1.400% <br>01/20/2031<br>| &nbsp;&nbsp; 5.931% | 9350000 | &nbsp;&nbsp; 9355610 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| Octagon Investment Partners Ltd.<sup>(a),(c)</sup>  | Octagon Investment Partners Ltd.<sup>(a),(c)</sup>  | Octagon Investment Partners Ltd.<sup>(a),(c)</sup>  | Octagon Investment Partners Ltd.<sup>(a),(c)</sup>  |
| Series 2018-18A Class A1A | Series 2018-18A Class A1A | Series 2018-18A Class A1A | Series 2018-18A Class A1A |
| 3-month Term SOFR + 1.222% <br>Floor 0.960% <br>04/16/2031<br>| &nbsp;&nbsp; 5.482% | 6889633 | &nbsp;&nbsp; 6887670 |
| 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% | 4148472 | &nbsp;&nbsp; 4150246 |
| Oportun Issuance Trust<sup>(a)</sup>  | Oportun Issuance Trust<sup>(a)</sup>  | Oportun Issuance Trust<sup>(a)</sup>  | Oportun Issuance Trust<sup>(a)</sup>  |
| Series 2021-B Class A | Series 2021-B Class A | Series 2021-B Class A | Series 2021-B Class A |
| 05/08/2031 | &nbsp;&nbsp; 1.470% | 6583477 | &nbsp;&nbsp; 6399557 |
| 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 B | Series 2024-11 Class B | Series 2024-11 Class B | Series 2024-11 Class B |
| 07/15/2032 | &nbsp;&nbsp; 5.637% | 6549248 | &nbsp;&nbsp; 6565952 |
| Subordinated Series 2024-10 Class B | Subordinated Series 2024-10 Class B | Subordinated Series 2024-10 Class B | Subordinated Series 2024-10 Class B |
| 06/15/2032 | &nbsp;&nbsp; 5.750% | 7549360 | &nbsp;&nbsp; 7620240 |
| Subordinated Series 2024-10 Class C | Subordinated Series 2024-10 Class C | Subordinated Series 2024-10 Class C | Subordinated Series 2024-10 Class C |
| 06/15/2032 | &nbsp;&nbsp; 5.992% | 8599271 | &nbsp;&nbsp; 8678531 |
| Subordinated Series 2024-5 Class B | Subordinated Series 2024-5 Class B | Subordinated Series 2024-5 Class B | Subordinated Series 2024-5 Class B |
| 10/15/2031 | &nbsp;&nbsp; 6.601% | 6339892 | &nbsp;&nbsp; 6409464 |
| Subordinated Series 2024-6 Class B | Subordinated Series 2024-6 Class B | Subordinated Series 2024-6 Class B | Subordinated Series 2024-6 Class B |
| 11/15/2031 | &nbsp;&nbsp; 6.589% | 6288561 | &nbsp;&nbsp; 6398802 |
| Subordinated Series 2024-8 Class B | Subordinated Series 2024-8 Class B | Subordinated Series 2024-8 Class B | Subordinated Series 2024-8 Class B |
| 01/15/2032 | &nbsp;&nbsp; 5.456% | 7259734 | &nbsp;&nbsp; 7279204 |
| Subordinated Series 2024-8 Class C | Subordinated Series 2024-8 Class C | Subordinated Series 2024-8 Class C | Subordinated Series 2024-8 Class C |
| 01/15/2032 | &nbsp;&nbsp; 6.030% | 5775196 | &nbsp;&nbsp; 5796412 |
| Subordinated Series 2024-9 Class B | Subordinated Series 2024-9 Class B | Subordinated Series 2024-9 Class B | Subordinated Series 2024-9 Class B |
| 03/15/2032 | &nbsp;&nbsp; 5.306% | 7138557 | &nbsp;&nbsp; 7160420 |
| Subordinated Series 2024-9 Class C | Subordinated Series 2024-9 Class C | Subordinated Series 2024-9 Class C | Subordinated Series 2024-9 Class C |
| 03/15/2032 | &nbsp;&nbsp; 5.774% | 6049791 | &nbsp;&nbsp; 6068779 |
| 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 2021-2 Class NOTE | Series 2021-2 Class NOTE | Series 2021-2 Class NOTE | Series 2021-2 Class NOTE |
| 01/25/2029 | &nbsp;&nbsp; 3.000% | 392220 | &nbsp;&nbsp; 387765 |
| Series 2021-HG1 Class A | Series 2021-HG1 Class A | Series 2021-HG1 Class A | Series 2021-HG1 Class A |
| 01/16/2029 | &nbsp;&nbsp; 1.220% | 149539 | &nbsp;&nbsp; 148463 |
| Subordinated Series 2021-HG1 Class B | Subordinated Series 2021-HG1 Class B | Subordinated Series 2021-HG1 Class B | Subordinated Series 2021-HG1 Class B |
| 01/16/2029 | &nbsp;&nbsp; 1.820% | 155603 | &nbsp;&nbsp; 153403 |
| 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% | 4929041 | &nbsp;&nbsp; 5006229 |
| Subordinated Series 2024-7 Class C | Subordinated Series 2024-7 Class C | Subordinated Series 2024-7 Class C | Subordinated Series 2024-7 Class C |
| 12/15/2031 | &nbsp;&nbsp; 7.095% | 5541796 | &nbsp;&nbsp; 5635637 |
| Pagaya AI Debt Trust<sup>(a),(f)</sup>  | Pagaya AI Debt Trust<sup>(a),(f)</sup>  | Pagaya AI Debt Trust<sup>(a),(f)</sup>  | Pagaya AI Debt Trust<sup>(a),(f)</sup>  |
| Series 2022-2 Class AB | Series 2022-2 Class AB | Series 2022-2 Class AB | Series 2022-2 Class AB |
| 01/15/2030 | &nbsp;&nbsp; 5.717% | 4051135 | &nbsp;&nbsp; 4053475 |
| Subordinated Series 2023-5 Class AB | Subordinated Series 2023-5 Class AB | Subordinated Series 2023-5 Class AB | Subordinated Series 2023-5 Class AB |
| 04/15/2031 | &nbsp;&nbsp; 7.625% | 254928 | &nbsp;&nbsp; 255157 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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 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 2023-3 Class A | Series 2023-3 Class A | Series 2023-3 Class A | Series 2023-3 Class A |
| 12/16/2030 | &nbsp;&nbsp; 7.600% | 718600 | &nbsp;&nbsp; 719423 |
| 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% | 1476434 | &nbsp;&nbsp; 1493048 |
| 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% | 2721272 | &nbsp;&nbsp; 2743514 |
| Subordinated Series 2022-3 Class B | Subordinated Series 2022-3 Class B | Subordinated Series 2022-3 Class B | Subordinated Series 2022-3 Class B |
| 03/15/2030 | &nbsp;&nbsp; 8.050% | 1829532 | &nbsp;&nbsp; 1833014 |
| Subordinated Series 2023-5 Class C | Subordinated Series 2023-5 Class C | Subordinated Series 2023-5 Class C | Subordinated Series 2023-5 Class C |
| 04/15/2031 | &nbsp;&nbsp; 9.099% | 3599970 | &nbsp;&nbsp; 3622916 |
| Subordinated Series 2023-6 Class B | Subordinated Series 2023-6 Class B | Subordinated Series 2023-6 Class B | Subordinated Series 2023-6 Class B |
| 06/16/2031 | &nbsp;&nbsp; 7.464% | 3217419 | &nbsp;&nbsp; 3221790 |
| Subordinated Series 2023-6 Class C | Subordinated Series 2023-6 Class C | Subordinated Series 2023-6 Class C | Subordinated Series 2023-6 Class C |
| 06/16/2031 | &nbsp;&nbsp; 8.491% | 5738528 | &nbsp;&nbsp; 5782023 |
| Subordinated Series 2023-7 Class C | Subordinated Series 2023-7 Class C | Subordinated Series 2023-7 Class C | Subordinated Series 2023-7 Class C |
| 07/15/2031 | &nbsp;&nbsp; 8.798% | 5248044 | &nbsp;&nbsp; 5303892 |
| Subordinated Series 2024-3 Class B | Subordinated Series 2024-3 Class B | Subordinated Series 2024-3 Class B | Subordinated Series 2024-3 Class B |
| 10/15/2031 | &nbsp;&nbsp; 6.571% | 13989483 | &nbsp;&nbsp; 14177069 |
| Subordinated Series 2024-3 Class C | Subordinated Series 2024-3 Class C | Subordinated Series 2024-3 Class C | Subordinated Series 2024-3 Class C |
| 10/15/2031 | &nbsp;&nbsp; 7.297% | 3805051 | &nbsp;&nbsp; 3844558 |
| PAGAYA AI Debt Trust<sup>(a),(f)</sup>  | PAGAYA AI Debt Trust<sup>(a),(f)</sup>  | PAGAYA AI Debt Trust<sup>(a),(f)</sup>  | PAGAYA AI Debt Trust<sup>(a),(f)</sup>  |
| Subordinated Series 2022-3 Class AB | Subordinated Series 2022-3 Class AB | Subordinated Series 2022-3 Class AB | Subordinated Series 2022-3 Class AB |
| 03/15/2030 | &nbsp;&nbsp; 7.576% | 180548 | &nbsp;&nbsp; 180892 |
| Palmer Square Loan Funding Ltd.<sup>(a),(c)</sup>  | Palmer Square Loan Funding Ltd.<sup>(a),(c)</sup>  | Palmer Square Loan Funding Ltd.<sup>(a),(c)</sup>  | Palmer Square Loan Funding Ltd.<sup>(a),(c)</sup>  |
| Series 2021-4A Class B | Series 2021-4A Class B | Series 2021-4A Class B | Series 2021-4A Class B |
| 3-month Term SOFR + 2.012% <br>Floor 1.750% <br>10/15/2029<br>| &nbsp;&nbsp; 6.268% | 15000000 | &nbsp;&nbsp; 15011265 |
| Series 2022-3A Class A1BR | Series 2022-3A Class A1BR | Series 2022-3A Class A1BR | Series 2022-3A Class A1BR |
| 3-month Term SOFR + 1.400% <br>Floor 1.400% <br>04/15/2031<br>| &nbsp;&nbsp; 6.056% | 9900000 | &nbsp;&nbsp; 9880180 |
| 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 2024-1A Class A | Series 2024-1A Class A | Series 2024-1A Class A | Series 2024-1A Class A |
| 02/18/2031 | &nbsp;&nbsp; 6.300% | 2090082 | &nbsp;&nbsp; 2099258 |
| 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 2023-4A Class A | Series 2023-4A Class A | Series 2023-4A Class A | Series 2023-4A Class A |
| 03/25/2032 | &nbsp;&nbsp; 7.540% | 6741882 | &nbsp;&nbsp; 6849935 |
| Series 2024-3A Class A | Series 2024-3A Class A | Series 2024-3A Class A | Series 2024-3A Class A |
| 03/25/2033 | &nbsp;&nbsp; 5.281% | 8013372 | &nbsp;&nbsp; 8032738 |
| Research-Driven Pagaya Motor Asset Trust IV<sup>(a)</sup>  | Research-Driven Pagaya Motor Asset Trust IV<sup>(a)</sup>  | Research-Driven Pagaya Motor Asset Trust IV<sup>(a)</sup>  | Research-Driven Pagaya Motor Asset Trust IV<sup>(a)</sup>  |
| Series 2021-2A Class A | Series 2021-2A Class A | Series 2021-2A Class A | Series 2021-2A Class A |
| 03/25/2030 | &nbsp;&nbsp; 2.650% | 1716714 | &nbsp;&nbsp; 1678502 |
| 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% | 4929655 | &nbsp;&nbsp; 4979212 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| SAFCO Auto Receivables Trust<sup>(a)</sup>  | SAFCO Auto Receivables Trust<sup>(a)</sup>  | SAFCO Auto Receivables Trust<sup>(a)</sup>  | SAFCO Auto Receivables Trust<sup>(a)</sup>  |
| Series 2024-1A Class A | Series 2024-1A Class A | Series 2024-1A Class A | Series 2024-1A Class A |
| 03/20/2028 | &nbsp;&nbsp; 6.510% | 1645374 | &nbsp;&nbsp; 1652775 |
| Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust | Santander Drive Auto Receivables Trust |
| Series 2024-1 Class A2 | Series 2024-1 Class A2 | Series 2024-1 Class A2 | Series 2024-1 Class A2 |
| 02/16/2027 | &nbsp;&nbsp; 5.710% | 489190 | &nbsp;&nbsp; 489465 |
| Series 2024-5 Class A2 | Series 2024-5 Class A2 | Series 2024-5 Class A2 | Series 2024-5 Class A2 |
| 09/15/2027 | &nbsp;&nbsp; 4.880% | 3343198 | &nbsp;&nbsp; 3342274 |
| Stewart Park CLO Ltd.<sup>(a),(c)</sup>  | Stewart Park CLO Ltd.<sup>(a),(c)</sup>  | Stewart Park CLO Ltd.<sup>(a),(c)</sup>  | Stewart Park CLO Ltd.<sup>(a),(c)</sup>  |
| Series 2017-1A Class BR | Series 2017-1A Class BR | Series 2017-1A Class BR | Series 2017-1A Class BR |
| 3-month Term SOFR + 1.632% <br>Floor 1.370% <br>01/15/2030<br>| &nbsp;&nbsp; 5.888% | 5828571 | &nbsp;&nbsp; 5832709 |
| Theorem Funding Trust<sup>(a)</sup>  | Theorem Funding Trust<sup>(a)</sup>  | Theorem Funding Trust<sup>(a)</sup>  | Theorem Funding Trust<sup>(a)</sup>  |
| Series 2022-3A Class A | Series 2022-3A Class A | Series 2022-3A Class A | Series 2022-3A Class A |
| 04/15/2029 | &nbsp;&nbsp; 7.600% | 1078510 | &nbsp;&nbsp; 1081986 |
| Series 2023-1A Class A | Series 2023-1A Class A | Series 2023-1A Class A | Series 2023-1A Class A |
| 04/15/2029 | &nbsp;&nbsp; 7.580% | 1703565 | &nbsp;&nbsp; 1710322 |
| Upland CLO Ltd.<sup>(a),(c)</sup>  | Upland CLO Ltd.<sup>(a),(c)</sup>  | Upland CLO Ltd.<sup>(a),(c)</sup>  | Upland CLO Ltd.<sup>(a),(c)</sup>  |
| Series 2016-1A Class A1AR | Series 2016-1A Class A1AR | Series 2016-1A Class A1AR | Series 2016-1A Class A1AR |
| 3-month Term SOFR + 1.282% <br>Floor 1.020% <br>04/20/2031<br>| &nbsp;&nbsp; 5.551% | 3435921 | &nbsp;&nbsp; 3436571 |
| Upstart Pass-Through Trust<sup>(a)</sup>  | Upstart Pass-Through Trust<sup>(a)</sup>  | Upstart Pass-Through Trust<sup>(a)</sup>  | Upstart Pass-Through Trust<sup>(a)</sup>  |
| Series 2020-ST6 Class A | Series 2020-ST6 Class A | Series 2020-ST6 Class A | Series 2020-ST6 Class A |
| 01/20/2027 | &nbsp;&nbsp; 3.000% | 19906 | &nbsp;&nbsp; 19873 |
| Series 2021-ST4 Class A | Series 2021-ST4 Class A | Series 2021-ST4 Class A | Series 2021-ST4 Class A |
| 07/20/2027 | &nbsp;&nbsp; 2.000% | 535536 | &nbsp;&nbsp; 529692 |
| Series 2021-ST5 Class A | Series 2021-ST5 Class A | Series 2021-ST5 Class A | Series 2021-ST5 Class A |
| 07/20/2027 | &nbsp;&nbsp; 2.000% | 357237 | &nbsp;&nbsp; 352758 |
| 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 2023-2 Class A | Series 2023-2 Class A | Series 2023-2 Class A | Series 2023-2 Class A |
| 06/20/2033 | &nbsp;&nbsp; 6.770% | 791393 | &nbsp;&nbsp; 792055 |
| 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% | 4583971 | &nbsp;&nbsp; 4579863 |
| 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 2023-3A Class A3 | Series 2023-3A Class A3 | Series 2023-3A Class A3 | Series 2023-3A Class A3 |
| 05/17/2027 | &nbsp;&nbsp; 5.820% | 4800000 | &nbsp;&nbsp; 4816729 |
| Series 2024-3A Class A2A | Series 2024-3A Class A2A | Series 2024-3A Class A2A | Series 2024-3A Class A2A |
| 09/15/2027 | &nbsp;&nbsp; 4.820% | 6232121 | &nbsp;&nbsp; 6233876 |
| Total Asset-Backed Securities — Non-Agency <br>(Cost $401,445,214) | Total Asset-Backed Securities — Non-Agency <br>(Cost $401,445,214) | Total Asset-Backed Securities — Non-Agency <br>(Cost $401,445,214) | &nbsp;&nbsp; **402683520** |
| **Commercial Mortgage-Backed Securities - Non-Agency 0.8%** | **Commercial Mortgage-Backed Securities - Non-Agency 0.8%** | **Commercial Mortgage-Backed Securities - Non-Agency 0.8%** | **Commercial Mortgage-Backed Securities - Non-Agency 0.8%** |
| Credit Suisse Mortgage Capital Certificates OA LLC<sup>(a)</sup>  | Credit Suisse Mortgage Capital Certificates OA LLC<sup>(a)</sup>  | Credit Suisse Mortgage Capital Certificates OA LLC<sup>(a)</sup>  | Credit Suisse Mortgage Capital Certificates OA LLC<sup>(a)</sup>  |
| Subordinated Series 2014-USA Class E | Subordinated Series 2014-USA Class E | Subordinated Series 2014-USA Class E | Subordinated Series 2014-USA Class E |
| 09/15/2037 | &nbsp;&nbsp; 4.373% | 8285000 | &nbsp;&nbsp; 4515327 |
| Subordinated Series 2014-USA Class F | Subordinated Series 2014-USA Class F | Subordinated Series 2014-USA Class F | Subordinated Series 2014-USA Class F |
| 09/15/2037 | &nbsp;&nbsp; 4.373% | 7750000 | &nbsp;&nbsp; 3258876 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| Hilton USA Trust<sup>(a)</sup>  | Hilton USA Trust<sup>(a)</sup>  | Hilton USA Trust<sup>(a)</sup>  | Hilton USA Trust<sup>(a)</sup>  |
| Subordinated Series 2016-SFP Class E | Subordinated Series 2016-SFP Class E | Subordinated Series 2016-SFP Class E | Subordinated Series 2016-SFP Class E |
| 11/05/2035 | &nbsp;&nbsp; 5.519% | 5500000 | &nbsp;&nbsp; 137500 |
| SFO Commercial Mortgage Trust<sup>(a),(c)</sup>  | SFO Commercial Mortgage Trust<sup>(a),(c)</sup>  | SFO Commercial Mortgage Trust<sup>(a),(c)</sup>  | SFO Commercial Mortgage Trust<sup>(a),(c)</sup>  |
| Series 2021-555 Class A | Series 2021-555 Class A | Series 2021-555 Class A | Series 2021-555 Class A |
| 1-month Term SOFR + 1.264% <br>Floor 1.150% <br>05/15/2038<br>| &nbsp;&nbsp; 5.587% | 5000000 | &nbsp;&nbsp; 4931194 |
| UBS Commercial Mortgage Trust<sup>(a),(c)</sup>  | UBS Commercial Mortgage Trust<sup>(a),(c)</sup>  | UBS Commercial Mortgage Trust<sup>(a),(c)</sup>  | UBS Commercial Mortgage Trust<sup>(a),(c)</sup>  |
| Series 2018-NYCH Class B | Series 2018-NYCH Class B | Series 2018-NYCH Class B | Series 2018-NYCH Class B |
| 1-month Term SOFR + 1.297% <br>Floor 1.250% <br>02/15/2032<br>| &nbsp;&nbsp; 5.619% | 4800000 | &nbsp;&nbsp; 4711546 |
| Wells Fargo Commercial Mortgage Trust<sup>(a),(c)</sup>  | Wells Fargo Commercial Mortgage Trust<sup>(a),(c)</sup>  | Wells Fargo Commercial Mortgage Trust<sup>(a),(c)</sup>  | Wells Fargo Commercial Mortgage Trust<sup>(a),(c)</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; 5.243% | 4555000 | &nbsp;&nbsp; 4205065 |
| Total Commercial Mortgage-Backed Securities - Non-Agency <br>(Cost $33,902,828) | Total Commercial Mortgage-Backed Securities - Non-Agency <br>(Cost $33,902,828) | Total Commercial Mortgage-Backed Securities - Non-Agency <br>(Cost $33,902,828) | &nbsp;&nbsp; **21759508** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks 0.0%** | **Common Stocks 0.0%** | **Common Stocks 0.0%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Financials 0.0%** | **Financials 0.0%** | **Financials 0.0%** |
| **Financial Services 0.0%** | **Financial Services 0.0%** | **Financial Services 0.0%** |
| Mr. Cooper Group, Inc.<sup>(g)</sup> <br>| &nbsp;&nbsp; 4518 | &nbsp;&nbsp; 537687 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **537687** |
| **Industrials 0.0%** | **Industrials 0.0%** | **Industrials 0.0%** |
| **Passenger Airlines 0.0%** | **Passenger Airlines 0.0%** | **Passenger Airlines 0.0%** |
| United Airlines Holdings, Inc.<sup>(g)</sup> <br>| &nbsp;&nbsp; 1493 | &nbsp;&nbsp; 102749 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **102749** |
| Total Common Stocks <br>(Cost $1,511,077) | Total Common Stocks <br>(Cost $1,511,077) | &nbsp;&nbsp; **640436** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes 28.9%** | **Corporate Bonds & Notes 28.9%** | **Corporate Bonds & Notes 28.9%** | **Corporate Bonds & Notes 28.9%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Aerospace & Defense 1.4%** | **Aerospace & Defense 1.4%** | **Aerospace & Defense 1.4%** | **Aerospace & Defense 1.4%** |
| Axon Enterprise, Inc.<sup>(a)</sup>  | Axon Enterprise, Inc.<sup>(a)</sup>  | Axon Enterprise, Inc.<sup>(a)</sup>  | Axon Enterprise, Inc.<sup>(a)</sup>  |
| 03/15/2030 | &nbsp;&nbsp; 6.125% | 273000 | &nbsp;&nbsp; 278452 |
| 03/15/2033 | &nbsp;&nbsp; 6.250% | 273000 | &nbsp;&nbsp; 278583 |
| BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  | BAE Systems PLC<sup>(a)</sup>  |
| 03/26/2029 | &nbsp;&nbsp; 5.125% | 3378000 | &nbsp;&nbsp; 3449060 |
| 02/15/2031 | &nbsp;&nbsp; 1.900% | 3350000 | &nbsp;&nbsp; 2874418 |
| Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) |
| 08/01/2059 | &nbsp;&nbsp; 3.950% | 9404000 | &nbsp;&nbsp; 6256271 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Bombardier, Inc.<sup>(a)</sup>  | Bombardier, Inc.<sup>(a)</sup>  | Bombardier, Inc.<sup>(a)</sup>  | Bombardier, Inc.<sup>(a)</sup>  |
| 07/01/2031 | &nbsp;&nbsp; 7.250% | 268000 | &nbsp;&nbsp; 274813 |
| 06/01/2032 | &nbsp;&nbsp; 7.000% | 270000 | &nbsp;&nbsp; 272916 |
| L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. |
| 07/31/2033 | &nbsp;&nbsp; 5.400% | 2169000 | &nbsp;&nbsp; 2199291 |
| Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. |
| 02/01/2029 | &nbsp;&nbsp; 4.600% | 6214000 | &nbsp;&nbsp; 6282087 |
| Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. |
| 03/15/2027 | &nbsp;&nbsp; 3.500% | 8323000 | &nbsp;&nbsp; 8201751 |
| 03/15/2032 | &nbsp;&nbsp; 2.375% | 3256000 | &nbsp;&nbsp; 2793274 |
| Spirit AeroSystems, Inc.<sup>(a)</sup>  | Spirit AeroSystems, Inc.<sup>(a)</sup>  | Spirit AeroSystems, Inc.<sup>(a)</sup>  | Spirit AeroSystems, Inc.<sup>(a)</sup>  |
| 11/30/2029 | &nbsp;&nbsp; 9.375% | 198000 | &nbsp;&nbsp; 211160 |
| 11/15/2030 | &nbsp;&nbsp; 9.750% | 446000 | &nbsp;&nbsp; 494297 |
| TransDigm, Inc.<sup>(a)</sup>  | TransDigm, Inc.<sup>(a)</sup>  | TransDigm, Inc.<sup>(a)</sup>  | TransDigm, Inc.<sup>(a)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 6.750% | 678000 | &nbsp;&nbsp; 691489 |
| 03/01/2029 | &nbsp;&nbsp; 6.375% | 1229000 | &nbsp;&nbsp; 1253014 |
| 03/01/2032 | &nbsp;&nbsp; 6.625% | 1086000 | &nbsp;&nbsp; 1112456 |
| 01/15/2033 | &nbsp;&nbsp; 6.000% | 399000 | &nbsp;&nbsp; 398131 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **37321463** |
| **Airlines 0.1%** | **Airlines 0.1%** | **Airlines 0.1%** | **Airlines 0.1%** |
| American Airlines, Inc.<sup>(a)</sup>  | American Airlines, Inc.<sup>(a)</sup>  | American Airlines, Inc.<sup>(a)</sup>  | American Airlines, Inc.<sup>(a)</sup>  |
| 05/15/2029 | &nbsp;&nbsp; 8.500% | 654000 | &nbsp;&nbsp; 666307 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(a)</sup>  | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(a)</sup>  | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(a)</sup>  | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(a)</sup>  |
| 04/20/2026 | &nbsp;&nbsp; 5.500% | 589881 | &nbsp;&nbsp; 586223 |
| 04/20/2029 | &nbsp;&nbsp; 5.750% | 1051571 | &nbsp;&nbsp; 1019194 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2271724** |
| **Automotive 0.2%** | **Automotive 0.2%** | **Automotive 0.2%** | **Automotive 0.2%** |
| Adient Global Holdings Ltd.<sup>(a)</sup>  | Adient Global Holdings Ltd.<sup>(a)</sup>  | Adient Global Holdings Ltd.<sup>(a)</sup>  | Adient Global Holdings Ltd.<sup>(a)</sup>  |
| 02/15/2033 | &nbsp;&nbsp; 7.500% | 660000 | &nbsp;&nbsp; 625432 |
| American Axle & Manufacturing, Inc. | American Axle & Manufacturing, Inc. | American Axle & Manufacturing, Inc. | American Axle & Manufacturing, Inc. |
| 04/01/2027 | &nbsp;&nbsp; 6.500% | 408000 | &nbsp;&nbsp; 398539 |
| 10/01/2029 | &nbsp;&nbsp; 5.000% | 360000 | &nbsp;&nbsp; 315843 |
| Clarios Global LP/US Finance Co.<sup>(a)</sup>  | Clarios Global LP/US Finance Co.<sup>(a)</sup>  | Clarios Global LP/US Finance Co.<sup>(a)</sup>  | Clarios Global LP/US Finance Co.<sup>(a)</sup>  |
| 02/15/2030 | &nbsp;&nbsp; 6.750% | 405000 | &nbsp;&nbsp; 412219 |
| Goodyear Tire & Rubber Co. (The) | Goodyear Tire & Rubber Co. (The) | Goodyear Tire & Rubber Co. (The) | Goodyear Tire & Rubber Co. (The) |
| 07/15/2029 | &nbsp;&nbsp; 5.000% | 586000 | &nbsp;&nbsp; 557649 |
| IHO Verwaltungs GmbH<sup>(a),(h)</sup>  | IHO Verwaltungs GmbH<sup>(a),(h)</sup>  | IHO Verwaltungs GmbH<sup>(a),(h)</sup>  | IHO Verwaltungs GmbH<sup>(a),(h)</sup>  |
| 11/15/2030 | &nbsp;&nbsp; 7.750% | 402000 | &nbsp;&nbsp; 390120 |
| 11/15/2032 | &nbsp;&nbsp; 8.000% | 1715000 | &nbsp;&nbsp; 1639121 |
| Panther BF Aggregator 2 LP/Finance Co., Inc.<sup>(a)</sup>  | Panther BF Aggregator 2 LP/Finance Co., Inc.<sup>(a)</sup>  | Panther BF Aggregator 2 LP/Finance Co., Inc.<sup>(a)</sup>  | Panther BF Aggregator 2 LP/Finance Co., Inc.<sup>(a)</sup>  |
| 05/15/2026 | &nbsp;&nbsp; 6.250% | 227000 | &nbsp;&nbsp; 226977 |
| ZF North America Capital, Inc.<sup>(a)</sup>  | ZF North America Capital, Inc.<sup>(a)</sup>  | ZF North America Capital, Inc.<sup>(a)</sup>  | ZF North America Capital, Inc.<sup>(a)</sup>  |
| 04/14/2030 | &nbsp;&nbsp; 7.125% | 406000 | &nbsp;&nbsp; 374565 |
| 04/23/2032 | &nbsp;&nbsp; 6.875% | 1862000 | &nbsp;&nbsp; 1634786 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6575251** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Banking 5.2%** | **Banking 5.2%** | **Banking 5.2%** | **Banking 5.2%** |
| Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 02/14/2033 | &nbsp;&nbsp; 6.700% | 186000 | &nbsp;&nbsp; 184547 |
| Ally Financial, Inc.<sup>(i)</sup>  | Ally Financial, Inc.<sup>(i)</sup>  | Ally Financial, Inc.<sup>(i)</sup>  | Ally Financial, Inc.<sup>(i)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 01/17/2040 | &nbsp;&nbsp; 6.646% | 281000 | &nbsp;&nbsp; 267375 |
| Bank of America Corp.<sup>(i)</sup>  | Bank of America Corp.<sup>(i)</sup>  | Bank of America Corp.<sup>(i)</sup>  | Bank of America Corp.<sup>(i)</sup>  |
| 07/21/2032 | &nbsp;&nbsp; 2.299% | 6150000 | &nbsp;&nbsp; 5285773 |
| 10/20/2032 | &nbsp;&nbsp; 2.572% | 24905000 | &nbsp;&nbsp; 21637767 |
| 02/04/2033 | &nbsp;&nbsp; 2.972% | 11590000 | &nbsp;&nbsp; 10191319 |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 09/21/2036 | &nbsp;&nbsp; 2.482% | 503000 | &nbsp;&nbsp; 419033 |
| Citigroup, Inc.<sup>(i)</sup>  | Citigroup, Inc.<sup>(i)</sup>  | Citigroup, Inc.<sup>(i)</sup>  | Citigroup, Inc.<sup>(i)</sup>  |
| 06/03/2031 | &nbsp;&nbsp; 2.572% | 6132000 | &nbsp;&nbsp; 5489415 |
| 01/25/2033 | &nbsp;&nbsp; 3.057% | 11756000 | &nbsp;&nbsp; 10331975 |
| Goldman Sachs Group, Inc. (The)<sup>(i)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(i)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(i)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(i)</sup>  |
| 04/23/2031 | &nbsp;&nbsp; 5.218% | 13652000 | &nbsp;&nbsp; 13903972 |
| 07/21/2032 | &nbsp;&nbsp; 2.383% | 3346000 | &nbsp;&nbsp; 2877036 |
| 10/21/2032 | &nbsp;&nbsp; 2.650% | 1000 | &nbsp;&nbsp; 867 |
| HSBC Holdings PLC<sup>(i)</sup>  | HSBC Holdings PLC<sup>(i)</sup>  | HSBC Holdings PLC<sup>(i)</sup>  | HSBC Holdings PLC<sup>(i)</sup>  |
| 11/19/2030 | &nbsp;&nbsp; 5.286% | 2424000 | &nbsp;&nbsp; 2461549 |
| 03/03/2031 | &nbsp;&nbsp; 5.130% | 2986000 | &nbsp;&nbsp; 3008647 |
| 05/24/2032 | &nbsp;&nbsp; 2.804% | 3677000 | &nbsp;&nbsp; 3237160 |
| 03/03/2036 | &nbsp;&nbsp; 5.450% | 949000 | &nbsp;&nbsp; 942421 |
| JPMorgan Chase & Co.<sup>(i)</sup>  | JPMorgan Chase & Co.<sup>(i)</sup>  | JPMorgan Chase & Co.<sup>(i)</sup>  | JPMorgan Chase & Co.<sup>(i)</sup>  |
| 07/22/2030 | &nbsp;&nbsp; 4.995% | 2969000 | &nbsp;&nbsp; 3012607 |
| 10/22/2030 | &nbsp;&nbsp; 4.603% | 448000 | &nbsp;&nbsp; 447267 |
| 01/24/2031 | &nbsp;&nbsp; 5.140% | 2323000 | &nbsp;&nbsp; 2369009 |
| 04/22/2031 | &nbsp;&nbsp; 5.103% | 768000 | &nbsp;&nbsp; 782228 |
| 11/08/2032 | &nbsp;&nbsp; 2.545% | 15130000 | &nbsp;&nbsp; 13195753 |
| Morgan Stanley<sup>(i)</sup>  | Morgan Stanley<sup>(i)</sup>  | Morgan Stanley<sup>(i)</sup>  | Morgan Stanley<sup>(i)</sup>  |
| 10/18/2030 | &nbsp;&nbsp; 4.654% | 16928000 | &nbsp;&nbsp; 16870764 |
| 04/17/2031 | &nbsp;&nbsp; 5.192% | 9134000 | &nbsp;&nbsp; 9296102 |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 09/16/2036 | &nbsp;&nbsp; 2.484% | 7470000 | &nbsp;&nbsp; 6221254 |
| PNC Financial Services Group, Inc. (The)<sup>(i)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(i)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(i)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(i)</sup>  |
| 10/20/2034 | &nbsp;&nbsp; 6.875% | 1450000 | &nbsp;&nbsp; 1594453 |
| Royal Bank of Canada<sup>(i)</sup>  | Royal Bank of Canada<sup>(i)</sup>  | Royal Bank of Canada<sup>(i)</sup>  | Royal Bank of Canada<sup>(i)</sup>  |
| 10/18/2030 | &nbsp;&nbsp; 4.650% | 3185000 | &nbsp;&nbsp; 3180362 |
| 02/04/2031 | &nbsp;&nbsp; 5.153% | 1789000 | &nbsp;&nbsp; 1820563 |
| US Bancorp<sup>(i)</sup>  | US Bancorp<sup>(i)</sup>  | US Bancorp<sup>(i)</sup>  | US Bancorp<sup>(i)</sup>  |
| 06/12/2034 | &nbsp;&nbsp; 5.836% | 2529000 | &nbsp;&nbsp; 2609735 |
| Washington Mutual Bank<sup>(b),(j),(k)</sup>  | Washington Mutual Bank<sup>(b),(j),(k)</sup>  | Washington Mutual Bank<sup>(b),(j),(k)</sup>  | Washington Mutual Bank<sup>(b),(j),(k)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 01/15/2015 | &nbsp;&nbsp; 0.000% | 27379000 | &nbsp;&nbsp; 41069 |
| Wells Fargo & Co.<sup>(i)</sup>  | Wells Fargo & Co.<sup>(i)</sup>  | Wells Fargo & Co.<sup>(i)</sup>  | Wells Fargo & Co.<sup>(i)</sup>  |
| 01/24/2031 | &nbsp;&nbsp; 5.244% | 430000 | &nbsp;&nbsp; 438793 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **142118815** |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Brokerage/Asset Managers/Exchanges 0.2%** | **Brokerage/Asset Managers/Exchanges 0.2%** | **Brokerage/Asset Managers/Exchanges 0.2%** | **Brokerage/Asset Managers/Exchanges 0.2%** |
| AG Issuer LLC<sup>(a)</sup>  | AG Issuer LLC<sup>(a)</sup>  | AG Issuer LLC<sup>(a)</sup>  | AG Issuer LLC<sup>(a)</sup>  |
| 03/01/2028 | &nbsp;&nbsp; 6.250% | 665000 | &nbsp;&nbsp; 655053 |
| AG TTMT Escrow Issuer LLC<sup>(a)</sup>  | AG TTMT Escrow Issuer LLC<sup>(a)</sup>  | AG TTMT Escrow Issuer LLC<sup>(a)</sup>  | AG TTMT Escrow Issuer LLC<sup>(a)</sup>  |
| 09/30/2027 | &nbsp;&nbsp; 8.625% | 1040000 | &nbsp;&nbsp; 1070032 |
| Aretec Escrow Issuer 2, Inc.<sup>(a)</sup>  | Aretec Escrow Issuer 2, Inc.<sup>(a)</sup>  | Aretec Escrow Issuer 2, Inc.<sup>(a)</sup>  | Aretec Escrow Issuer 2, Inc.<sup>(a)</sup>  |
| 08/15/2030 | &nbsp;&nbsp; 10.000% | 760000 | &nbsp;&nbsp; 819195 |
| Aretec Escrow Issuer, Inc.<sup>(a)</sup>  | Aretec Escrow Issuer, Inc.<sup>(a)</sup>  | Aretec Escrow Issuer, Inc.<sup>(a)</sup>  | Aretec Escrow Issuer, Inc.<sup>(a)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 7.500% | 946000 | &nbsp;&nbsp; 921200 |
| Focus Financial Partners LLC<sup>(a)</sup>  | Focus Financial Partners LLC<sup>(a)</sup>  | Focus Financial Partners LLC<sup>(a)</sup>  | Focus Financial Partners LLC<sup>(a)</sup>  |
| 09/15/2031 | &nbsp;&nbsp; 6.750% | 670000 | &nbsp;&nbsp; 673666 |
| Hightower Holding LLC<sup>(a)</sup>  | Hightower Holding LLC<sup>(a)</sup>  | Hightower Holding LLC<sup>(a)</sup>  | Hightower Holding LLC<sup>(a)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 6.750% | 983000 | &nbsp;&nbsp; 939150 |
| 01/31/2030 | &nbsp;&nbsp; 9.125% | 659000 | &nbsp;&nbsp; 674056 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5752352** |
| **Building Materials 0.2%** | **Building Materials 0.2%** | **Building Materials 0.2%** | **Building Materials 0.2%** |
| American Builders & Contractors Supply Co., Inc.<sup>(a)</sup>  | American Builders & Contractors Supply Co., Inc.<sup>(a)</sup>  | American Builders & Contractors Supply Co., Inc.<sup>(a)</sup>  | American Builders & Contractors Supply Co., Inc.<sup>(a)</sup>  |
| 01/15/2028 | &nbsp;&nbsp; 4.000% | 436000 | &nbsp;&nbsp; 421299 |
| Masterbrand, Inc.<sup>(a)</sup>  | Masterbrand, Inc.<sup>(a)</sup>  | Masterbrand, Inc.<sup>(a)</sup>  | Masterbrand, Inc.<sup>(a)</sup>  |
| 07/15/2032 | &nbsp;&nbsp; 7.000% | 84000 | &nbsp;&nbsp; 84191 |
| Quikrete Holdings, Inc.<sup>(a)</sup>  | Quikrete Holdings, Inc.<sup>(a)</sup>  | Quikrete Holdings, Inc.<sup>(a)</sup>  | Quikrete Holdings, Inc.<sup>(a)</sup>  |
| 03/01/2032 | &nbsp;&nbsp; 6.375% | 1781000 | &nbsp;&nbsp; 1792955 |
| 03/01/2033 | &nbsp;&nbsp; 6.750% | 1568000 | &nbsp;&nbsp; 1573985 |
| QXO Building Products, Inc.<sup>(a)</sup>  | QXO Building Products, Inc.<sup>(a)</sup>  | QXO Building Products, Inc.<sup>(a)</sup>  | QXO Building Products, Inc.<sup>(a)</sup>  |
| 04/30/2032 | &nbsp;&nbsp; 6.750% | 595000 | &nbsp;&nbsp; 596581 |
| Standard Building Solutions, Inc.<sup>(a)</sup>  | Standard Building Solutions, Inc.<sup>(a)</sup>  | Standard Building Solutions, Inc.<sup>(a)</sup>  | Standard Building Solutions, Inc.<sup>(a)</sup>  |
| 08/15/2032 | &nbsp;&nbsp; 6.500% | 274000 | &nbsp;&nbsp; 277575 |
| Standard Industries, Inc.<sup>(a)</sup>  | Standard Industries, Inc.<sup>(a)</sup>  | Standard Industries, Inc.<sup>(a)</sup>  | Standard Industries, Inc.<sup>(a)</sup>  |
| 01/15/2028 | &nbsp;&nbsp; 4.750% | 424000 | &nbsp;&nbsp; 415139 |
| White Cap Buyer LLC<sup>(a)</sup>  | White Cap Buyer LLC<sup>(a)</sup>  | White Cap Buyer LLC<sup>(a)</sup>  | White Cap Buyer LLC<sup>(a)</sup>  |
| 10/15/2028 | &nbsp;&nbsp; 6.875% | 1458000 | &nbsp;&nbsp; 1416833 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6578558** |
| **Cable and Satellite 0.9%** | **Cable and Satellite 0.9%** | **Cable and Satellite 0.9%** | **Cable and Satellite 0.9%** |
| CCO Holdings LLC/Capital Corp.<sup>(a)</sup>  | CCO Holdings LLC/Capital Corp.<sup>(a)</sup>  | CCO Holdings LLC/Capital Corp.<sup>(a)</sup>  | CCO Holdings LLC/Capital Corp.<sup>(a)</sup>  |
| 05/01/2027 | &nbsp;&nbsp; 5.125% | 1279000 | &nbsp;&nbsp; 1260997 |
| 02/01/2028 | &nbsp;&nbsp; 5.000% | 788000 | &nbsp;&nbsp; 768702 |
| 03/01/2030 | &nbsp;&nbsp; 4.750% | 1836000 | &nbsp;&nbsp; 1734947 |
| 08/15/2030 | &nbsp;&nbsp; 4.500% | 757000 | &nbsp;&nbsp; 703211 |
| 02/01/2031 | &nbsp;&nbsp; 4.250% | 620000 | &nbsp;&nbsp; 560512 |
| 03/01/2031 | &nbsp;&nbsp; 7.375% | 72000 | &nbsp;&nbsp; 74064 |
| 02/01/2032 | &nbsp;&nbsp; 4.750% | 852000 | &nbsp;&nbsp; 772052 |
| 01/15/2034 | &nbsp;&nbsp; 4.250% | 1415000 | &nbsp;&nbsp; 1190636 |
| CCO Holdings LLC/Capital Corp. | CCO Holdings LLC/Capital Corp. | CCO Holdings LLC/Capital Corp. | CCO Holdings LLC/Capital Corp. |
| 05/01/2032 | &nbsp;&nbsp; 4.500% | 701000 | &nbsp;&nbsp; 623109 |
| Charter Communications Operating LLC | Charter Communications Operating LLC | Charter Communications Operating LLC | Charter Communications Operating LLC |
| 12/01/2061 | &nbsp;&nbsp; 4.400% | 3576000 | &nbsp;&nbsp; 2325024 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Comcast Corp. | Comcast Corp. | Comcast Corp. | Comcast Corp. |
| 03/01/2026 | &nbsp;&nbsp; 3.150% | 2920000 | &nbsp;&nbsp; 2891891 |
| CSC Holdings LLC<sup>(a)</sup>  | CSC Holdings LLC<sup>(a)</sup>  | CSC Holdings LLC<sup>(a)</sup>  | CSC Holdings LLC<sup>(a)</sup>  |
| 02/01/2028 | &nbsp;&nbsp; 5.375% | 640000 | &nbsp;&nbsp; 559213 |
| 01/15/2030 | &nbsp;&nbsp; 5.750% | 402000 | &nbsp;&nbsp; 201572 |
| 12/01/2030 | &nbsp;&nbsp; 4.125% | 941000 | &nbsp;&nbsp; 644633 |
| 12/01/2030 | &nbsp;&nbsp; 4.625% | 799000 | &nbsp;&nbsp; 369616 |
| 02/15/2031 | &nbsp;&nbsp; 3.375% | 486000 | &nbsp;&nbsp; 324627 |
| DISH DBS Corp. | DISH DBS Corp. | DISH DBS Corp. | DISH DBS Corp. |
| 07/01/2026 | &nbsp;&nbsp; 7.750% | 373000 | &nbsp;&nbsp; 324964 |
| 07/01/2028 | &nbsp;&nbsp; 7.375% | 142000 | &nbsp;&nbsp; 95953 |
| 06/01/2029 | &nbsp;&nbsp; 5.125% | 227000 | &nbsp;&nbsp; 141526 |
| DISH DBS Corp.<sup>(a)</sup>  | DISH DBS Corp.<sup>(a)</sup>  | DISH DBS Corp.<sup>(a)</sup>  | DISH DBS Corp.<sup>(a)</sup>  |
| 12/01/2026 | &nbsp;&nbsp; 5.250% | 297000 | &nbsp;&nbsp; 270342 |
| 12/01/2028 | &nbsp;&nbsp; 5.750% | 605000 | &nbsp;&nbsp; 508425 |
| DISH Network Corp.<sup>(a)</sup>  | DISH Network Corp.<sup>(a)</sup>  | DISH Network Corp.<sup>(a)</sup>  | DISH Network Corp.<sup>(a)</sup>  |
| 11/15/2027 | &nbsp;&nbsp; 11.750% | 1880000 | &nbsp;&nbsp; 1975117 |
| EchoStar Corp. | EchoStar Corp. | EchoStar Corp. | EchoStar Corp. |
| 11/30/2029 | &nbsp;&nbsp; 10.750% | 884419 | &nbsp;&nbsp; 935002 |
| EchoStar Corp.<sup>(h)</sup>  | EchoStar Corp.<sup>(h)</sup>  | EchoStar Corp.<sup>(h)</sup>  | EchoStar Corp.<sup>(h)</sup>  |
| 11/30/2030 | &nbsp;&nbsp; 6.750% | 1500494 | &nbsp;&nbsp; 1395751 |
| Sirius XM Radio, Inc.<sup>(a)</sup>  | Sirius XM Radio, Inc.<sup>(a)</sup>  | Sirius XM Radio, Inc.<sup>(a)</sup>  | Sirius XM Radio, Inc.<sup>(a)</sup>  |
| 09/01/2026 | &nbsp;&nbsp; 3.125% | 270000 | &nbsp;&nbsp; 262876 |
| 08/01/2027 | &nbsp;&nbsp; 5.000% | 1475000 | &nbsp;&nbsp; 1458541 |
| 07/15/2028 | &nbsp;&nbsp; 4.000% | 452000 | &nbsp;&nbsp; 425758 |
| 07/01/2030 | &nbsp;&nbsp; 4.125% | 244000 | &nbsp;&nbsp; 218272 |
| Virgin Media Finance PLC<sup>(a)</sup>  | Virgin Media Finance PLC<sup>(a)</sup>  | Virgin Media Finance PLC<sup>(a)</sup>  | Virgin Media Finance PLC<sup>(a)</sup>  |
| 07/15/2030 | &nbsp;&nbsp; 5.000% | 542000 | &nbsp;&nbsp; 474830 |
| Virgin Media Secured Finance PLC<sup>(a)</sup>  | Virgin Media Secured Finance PLC<sup>(a)</sup>  | Virgin Media Secured Finance PLC<sup>(a)</sup>  | Virgin Media Secured Finance PLC<sup>(a)</sup>  |
| 05/15/2029 | &nbsp;&nbsp; 5.500% | 316000 | &nbsp;&nbsp; 304363 |
| VZ Secured Financing BV<sup>(a)</sup>  | VZ Secured Financing BV<sup>(a)</sup>  | VZ Secured Financing BV<sup>(a)</sup>  | VZ Secured Financing BV<sup>(a)</sup>  |
| 01/15/2032 | &nbsp;&nbsp; 5.000% | 1200000 | &nbsp;&nbsp; 1046621 |
| Ziggo BV<sup>(a)</sup>  | Ziggo BV<sup>(a)</sup>  | Ziggo BV<sup>(a)</sup>  | Ziggo BV<sup>(a)</sup>  |
| 01/15/2030 | &nbsp;&nbsp; 4.875% | 575000 | &nbsp;&nbsp; 528118 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **25371265** |
| **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** |
| Ashland LLC<sup>(a)</sup>  | Ashland LLC<sup>(a)</sup>  | Ashland LLC<sup>(a)</sup>  | Ashland LLC<sup>(a)</sup>  |
| 09/01/2031 | &nbsp;&nbsp; 3.375% | 1120000 | &nbsp;&nbsp; 972231 |
| Avient Corp.<sup>(a)</sup>  | Avient Corp.<sup>(a)</sup>  | Avient Corp.<sup>(a)</sup>  | Avient Corp.<sup>(a)</sup>  |
| 08/01/2030 | &nbsp;&nbsp; 7.125% | 268000 | &nbsp;&nbsp; 272501 |
| 11/01/2031 | &nbsp;&nbsp; 6.250% | 269000 | &nbsp;&nbsp; 265895 |
| Axalta Coating Systems Dutch Holding B BV<sup>(a)</sup>  | Axalta Coating Systems Dutch Holding B BV<sup>(a)</sup>  | Axalta Coating Systems Dutch Holding B BV<sup>(a)</sup>  | Axalta Coating Systems Dutch Holding B BV<sup>(a)</sup>  |
| 02/15/2031 | &nbsp;&nbsp; 7.250% | 390000 | &nbsp;&nbsp; 404071 |
| Axalta Coating Systems LLC<sup>(a)</sup>  | Axalta Coating Systems LLC<sup>(a)</sup>  | Axalta Coating Systems LLC<sup>(a)</sup>  | Axalta Coating Systems LLC<sup>(a)</sup>  |
| 02/15/2029 | &nbsp;&nbsp; 3.375% | 221000 | &nbsp;&nbsp; 204951 |
| Axalta Coating Systems LLC/Dutch Holding B BV<sup>(a)</sup>  | Axalta Coating Systems LLC/Dutch Holding B BV<sup>(a)</sup>  | Axalta Coating Systems LLC/Dutch Holding B BV<sup>(a)</sup>  | Axalta Coating Systems LLC/Dutch Holding B BV<sup>(a)</sup>  |
| 06/15/2027 | &nbsp;&nbsp; 4.750% | 320000 | &nbsp;&nbsp; 316101 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Braskem Netherlands Finance BV<sup>(a)</sup>  | Braskem Netherlands Finance BV<sup>(a)</sup>  | Braskem Netherlands Finance BV<sup>(a)</sup>  | Braskem Netherlands Finance BV<sup>(a)</sup>  |
| 01/31/2030 | &nbsp;&nbsp; 4.500% | 1500000 | &nbsp;&nbsp; 1243568 |
| Celanese US Holdings LLC | Celanese US Holdings LLC | Celanese US Holdings LLC | Celanese US Holdings LLC |
| 04/15/2030 | &nbsp;&nbsp; 6.500% | 85000 | &nbsp;&nbsp; 82992 |
| 07/15/2032 | &nbsp;&nbsp; 6.629% | 108000 | &nbsp;&nbsp; 106171 |
| 04/15/2033 | &nbsp;&nbsp; 6.750% | 1708000 | &nbsp;&nbsp; 1601781 |
| 11/15/2033 | &nbsp;&nbsp; 6.950% | 513000 | &nbsp;&nbsp; 514169 |
| Element Solutions, Inc.<sup>(a)</sup>  | Element Solutions, Inc.<sup>(a)</sup>  | Element Solutions, Inc.<sup>(a)</sup>  | Element Solutions, Inc.<sup>(a)</sup>  |
| 09/01/2028 | &nbsp;&nbsp; 3.875% | 618000 | &nbsp;&nbsp; 585092 |
| HB Fuller Co. | HB Fuller Co. | HB Fuller Co. | HB Fuller Co. |
| 10/15/2028 | &nbsp;&nbsp; 4.250% | 547000 | &nbsp;&nbsp; 517385 |
| Herens Holdco Sarl<sup>(a)</sup>  | Herens Holdco Sarl<sup>(a)</sup>  | Herens Holdco Sarl<sup>(a)</sup>  | Herens Holdco Sarl<sup>(a)</sup>  |
| 05/15/2028 | &nbsp;&nbsp; 4.750% | 599000 | &nbsp;&nbsp; 521500 |
| Illuminate Buyer LLC/Holdings IV, Inc.<sup>(a)</sup>  | Illuminate Buyer LLC/Holdings IV, Inc.<sup>(a)</sup>  | Illuminate Buyer LLC/Holdings IV, Inc.<sup>(a)</sup>  | Illuminate Buyer LLC/Holdings IV, Inc.<sup>(a)</sup>  |
| 07/01/2028 | &nbsp;&nbsp; 9.000% | 296000 | &nbsp;&nbsp; 296077 |
| INEOS Finance PLC<sup>(a)</sup>  | INEOS Finance PLC<sup>(a)</sup>  | INEOS Finance PLC<sup>(a)</sup>  | INEOS Finance PLC<sup>(a)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 7.500% | 1262000 | &nbsp;&nbsp; 1186463 |
| INEOS Quattro Finance 2 PLC<sup>(a)</sup>  | INEOS Quattro Finance 2 PLC<sup>(a)</sup>  | INEOS Quattro Finance 2 PLC<sup>(a)</sup>  | INEOS Quattro Finance 2 PLC<sup>(a)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 9.625% | 1328000 | &nbsp;&nbsp; 1277796 |
| Ingevity Corp.<sup>(a)</sup>  | Ingevity Corp.<sup>(a)</sup>  | Ingevity Corp.<sup>(a)</sup>  | Ingevity Corp.<sup>(a)</sup>  |
| 11/01/2028 | &nbsp;&nbsp; 3.875% | 426000 | &nbsp;&nbsp; 394290 |
| Innophos Holdings, Inc.<sup>(a)</sup>  | Innophos Holdings, Inc.<sup>(a)</sup>  | Innophos Holdings, Inc.<sup>(a)</sup>  | Innophos Holdings, Inc.<sup>(a)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 11.500% | 900700 | &nbsp;&nbsp; 909707 |
| Olympus Water US Holding Corp.<sup>(a)</sup>  | Olympus Water US Holding Corp.<sup>(a)</sup>  | Olympus Water US Holding Corp.<sup>(a)</sup>  | Olympus Water US Holding Corp.<sup>(a)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 4.250% | 449000 | &nbsp;&nbsp; 414729 |
| 11/15/2028 | &nbsp;&nbsp; 9.750% | 1269000 | &nbsp;&nbsp; 1326241 |
| 10/01/2029 | &nbsp;&nbsp; 6.250% | 876000 | &nbsp;&nbsp; 805907 |
| 06/15/2031 | &nbsp;&nbsp; 7.250% | 930000 | &nbsp;&nbsp; 931560 |
| SPCM SA<sup>(a)</sup>  | SPCM SA<sup>(a)</sup>  | SPCM SA<sup>(a)</sup>  | SPCM SA<sup>(a)</sup>  |
| 03/15/2027 | &nbsp;&nbsp; 3.125% | 150000 | &nbsp;&nbsp; 142808 |
| Tronox, Inc.<sup>(a)</sup>  | Tronox, Inc.<sup>(a)</sup>  | Tronox, Inc.<sup>(a)</sup>  | Tronox, Inc.<sup>(a)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 4.625% | 633000 | &nbsp;&nbsp; 514258 |
| WR Grace Holdings LLC<sup>(a)</sup>  | WR Grace Holdings LLC<sup>(a)</sup>  | WR Grace Holdings LLC<sup>(a)</sup>  | WR Grace Holdings LLC<sup>(a)</sup>  |
| 06/15/2027 | &nbsp;&nbsp; 4.875% | 705000 | &nbsp;&nbsp; 683764 |
| 08/15/2029 | &nbsp;&nbsp; 5.625% | 2324000 | &nbsp;&nbsp; 2060209 |
| 03/01/2031 | &nbsp;&nbsp; 7.375% | 341000 | &nbsp;&nbsp; 342578 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18894795** |
| **Construction Machinery 0.1%** | **Construction Machinery 0.1%** | **Construction Machinery 0.1%** | **Construction Machinery 0.1%** |
| Caterpillar Financial Services Corp. | Caterpillar Financial Services Corp. | Caterpillar Financial Services Corp. | Caterpillar Financial Services Corp. |
| 10/16/2026 | &nbsp;&nbsp; 4.450% | 2725000 | &nbsp;&nbsp; 2744561 |
| Herc Holdings, Inc.<sup>(a)</sup>  | Herc Holdings, Inc.<sup>(a)</sup>  | Herc Holdings, Inc.<sup>(a)</sup>  | Herc Holdings, Inc.<sup>(a)</sup>  |
| 07/15/2027 | &nbsp;&nbsp; 5.500% | 87000 | &nbsp;&nbsp; 86044 |
| 06/15/2029 | &nbsp;&nbsp; 6.625% | 306000 | &nbsp;&nbsp; 302270 |
| Ritchie Bros Holdings, Inc.<sup>(a)</sup>  | Ritchie Bros Holdings, Inc.<sup>(a)</sup>  | Ritchie Bros Holdings, Inc.<sup>(a)</sup>  | Ritchie Bros Holdings, Inc.<sup>(a)</sup>  |
| 03/15/2028 | &nbsp;&nbsp; 6.750% | 519000 | &nbsp;&nbsp; 529477 |
| 03/15/2031 | &nbsp;&nbsp; 7.750% | 201000 | &nbsp;&nbsp; 210860 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3873212** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Consumer Cyclical Services 0.1%** | **Consumer Cyclical Services 0.1%** | **Consumer Cyclical Services 0.1%** | **Consumer Cyclical Services 0.1%** |
| Arches Buyer, Inc.<sup>(a)</sup>  | Arches Buyer, Inc.<sup>(a)</sup>  | Arches Buyer, Inc.<sup>(a)</sup>  | Arches Buyer, Inc.<sup>(a)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 4.250% | 1029000 | &nbsp;&nbsp; 968493 |
| 12/01/2028 | &nbsp;&nbsp; 6.125% | 1538000 | &nbsp;&nbsp; 1379649 |
| Garda World Security Corp.<sup>(a)</sup>  | Garda World Security Corp.<sup>(a)</sup>  | Garda World Security Corp.<sup>(a)</sup>  | Garda World Security Corp.<sup>(a)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 8.250% | 632000 | &nbsp;&nbsp; 622597 |
| Match Group, Inc.<sup>(a)</sup>  | Match Group, Inc.<sup>(a)</sup>  | Match Group, Inc.<sup>(a)</sup>  | Match Group, Inc.<sup>(a)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 4.625% | 1138000 | &nbsp;&nbsp; 1095109 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **4065848** |
| **Consumer Products 0.1%** | **Consumer Products 0.1%** | **Consumer Products 0.1%** | **Consumer Products 0.1%** |
| Acushnet Co.<sup>(a)</sup>  | Acushnet Co.<sup>(a)</sup>  | Acushnet Co.<sup>(a)</sup>  | Acushnet Co.<sup>(a)</sup>  |
| 10/15/2028 | &nbsp;&nbsp; 7.375% | 96000 | &nbsp;&nbsp; 99523 |
| CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(a)</sup>  | CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(a)</sup>  | CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(a)</sup>  | CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(a)</sup>  |
| 10/15/2029 | &nbsp;&nbsp; 9.500% | 983000 | &nbsp;&nbsp; 845988 |
| Newell Brands, Inc. | Newell Brands, Inc. | Newell Brands, Inc. | Newell Brands, Inc. |
| 09/15/2027 | &nbsp;&nbsp; 6.375% | 215000 | &nbsp;&nbsp; 210358 |
| 05/15/2030 | &nbsp;&nbsp; 6.375% | 999000 | &nbsp;&nbsp; 909951 |
| 05/15/2032 | &nbsp;&nbsp; 6.625% | 1169000 | &nbsp;&nbsp; 1048742 |
| Opal Bidco SAS<sup>(a)</sup>  | Opal Bidco SAS<sup>(a)</sup>  | Opal Bidco SAS<sup>(a)</sup>  | Opal Bidco SAS<sup>(a)</sup>  |
| 03/31/2032 | &nbsp;&nbsp; 6.500% | 532000 | &nbsp;&nbsp; 532611 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3647173** |
| **Diversified Manufacturing 0.6%** | **Diversified Manufacturing 0.6%** | **Diversified Manufacturing 0.6%** | **Diversified Manufacturing 0.6%** |
| Amsted Industries, Inc.<sup>(a)</sup>  | Amsted Industries, Inc.<sup>(a)</sup>  | Amsted Industries, Inc.<sup>(a)</sup>  | Amsted Industries, Inc.<sup>(a)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.375% | 69000 | &nbsp;&nbsp; 69436 |
| Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. | Carrier Global Corp. |
| 02/15/2030 | &nbsp;&nbsp; 2.722% | 8257000 | &nbsp;&nbsp; 7625936 |
| Chart Industries, Inc.<sup>(a)</sup>  | Chart Industries, Inc.<sup>(a)</sup>  | Chart Industries, Inc.<sup>(a)</sup>  | Chart Industries, Inc.<sup>(a)</sup>  |
| 01/01/2030 | &nbsp;&nbsp; 7.500% | 340000 | &nbsp;&nbsp; 353366 |
| Emerald Debt Merger Sub LLC<sup>(a)</sup>  | Emerald Debt Merger Sub LLC<sup>(a)</sup>  | Emerald Debt Merger Sub LLC<sup>(a)</sup>  | Emerald Debt Merger Sub LLC<sup>(a)</sup>  |
| 12/15/2030 | &nbsp;&nbsp; 6.625% | 1903000 | &nbsp;&nbsp; 1931763 |
| EMRLD Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  | EMRLD Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  | EMRLD Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  | EMRLD Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  |
| 07/15/2031 | &nbsp;&nbsp; 6.750% | 270000 | &nbsp;&nbsp; 275555 |
| Esab Corp.<sup>(a)</sup>  | Esab Corp.<sup>(a)</sup>  | Esab Corp.<sup>(a)</sup>  | Esab Corp.<sup>(a)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 6.250% | 222000 | &nbsp;&nbsp; 225025 |
| Gates Corp. (The)<sup>(a)</sup>  | Gates Corp. (The)<sup>(a)</sup>  | Gates Corp. (The)<sup>(a)</sup>  | Gates Corp. (The)<sup>(a)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 6.875% | 401000 | &nbsp;&nbsp; 407503 |
| Madison IAQ LLC<sup>(a)</sup>  | Madison IAQ LLC<sup>(a)</sup>  | Madison IAQ LLC<sup>(a)</sup>  | Madison IAQ LLC<sup>(a)</sup>  |
| 06/30/2028 | &nbsp;&nbsp; 4.125% | 962000 | &nbsp;&nbsp; 918847 |
| 06/30/2029 | &nbsp;&nbsp; 5.875% | 868000 | &nbsp;&nbsp; 820447 |
| Resideo Funding, Inc.<sup>(a)</sup>  | Resideo Funding, Inc.<sup>(a)</sup>  | Resideo Funding, Inc.<sup>(a)</sup>  | Resideo Funding, Inc.<sup>(a)</sup>  |
| 09/01/2029 | &nbsp;&nbsp; 4.000% | 459000 | &nbsp;&nbsp; 422659 |
| 07/15/2032 | &nbsp;&nbsp; 6.500% | 18000 | &nbsp;&nbsp; 17840 |
| Vertical Holdco GmbH<sup>(a)</sup>  | Vertical Holdco GmbH<sup>(a)</sup>  | Vertical Holdco GmbH<sup>(a)</sup>  | Vertical Holdco GmbH<sup>(a)</sup>  |
| 07/15/2028 | &nbsp;&nbsp; 7.625% | 546000 | &nbsp;&nbsp; 547779 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Vertical US Newco, Inc.<sup>(a)</sup>  | Vertical US Newco, Inc.<sup>(a)</sup>  | Vertical US Newco, Inc.<sup>(a)</sup>  | Vertical US Newco, Inc.<sup>(a)</sup>  |
| 07/15/2027 | &nbsp;&nbsp; 5.250% | 329000 | &nbsp;&nbsp; 323560 |
| Wesco Distribution, Inc.<sup>(a)</sup>  | Wesco Distribution, Inc.<sup>(a)</sup>  | Wesco Distribution, Inc.<sup>(a)</sup>  | Wesco Distribution, Inc.<sup>(a)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.375% | 146000 | &nbsp;&nbsp; 147921 |
| WESCO Distribution, Inc.<sup>(a)</sup>  | WESCO Distribution, Inc.<sup>(a)</sup>  | WESCO Distribution, Inc.<sup>(a)</sup>  | WESCO Distribution, Inc.<sup>(a)</sup>  |
| 06/15/2028 | &nbsp;&nbsp; 7.250% | 709000 | &nbsp;&nbsp; 718244 |
| 03/15/2029 | &nbsp;&nbsp; 6.375% | 407000 | &nbsp;&nbsp; 412938 |
| 03/15/2032 | &nbsp;&nbsp; 6.625% | 523000 | &nbsp;&nbsp; 534100 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15752919** |
| **Electric 1.6%** | **Electric 1.6%** | **Electric 1.6%** | **Electric 1.6%** |
| AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. |
| 01/15/2050 | &nbsp;&nbsp; 3.450% | 3890000 | &nbsp;&nbsp; 2616600 |
| Alpha Generation LLC<sup>(a)</sup>  | Alpha Generation LLC<sup>(a)</sup>  | Alpha Generation LLC<sup>(a)</sup>  | Alpha Generation LLC<sup>(a)</sup>  |
| 10/15/2032 | &nbsp;&nbsp; 6.750% | 181000 | &nbsp;&nbsp; 184729 |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)</sup>  | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)</sup>  | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)</sup>  | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)</sup>  |
| 02/15/2032 | &nbsp;&nbsp; 6.375% | 553000 | &nbsp;&nbsp; 543225 |
| Calpine Corp.<sup>(a)</sup>  | Calpine Corp.<sup>(a)</sup>  | Calpine Corp.<sup>(a)</sup>  | Calpine Corp.<sup>(a)</sup>  |
| 02/15/2028 | &nbsp;&nbsp; 4.500% | 424000 | &nbsp;&nbsp; 414614 |
| Clearway Energy Operating LLC<sup>(a)</sup>  | Clearway Energy Operating LLC<sup>(a)</sup>  | Clearway Energy Operating LLC<sup>(a)</sup>  | Clearway Energy Operating LLC<sup>(a)</sup>  |
| 03/15/2028 | &nbsp;&nbsp; 4.750% | 399000 | &nbsp;&nbsp; 389500 |
| 02/15/2031 | &nbsp;&nbsp; 3.750% | 1408000 | &nbsp;&nbsp; 1254845 |
| 01/15/2032 | &nbsp;&nbsp; 3.750% | 357000 | &nbsp;&nbsp; 309625 |
| Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. | Dominion Energy, Inc. |
| 03/15/2035 | &nbsp;&nbsp; 5.450% | 3516000 | &nbsp;&nbsp; 3502790 |
| DTE Energy Co. | DTE Energy Co. | DTE Energy Co. | DTE Energy Co. |
| 07/01/2027 | &nbsp;&nbsp; 4.950% | 4300000 | &nbsp;&nbsp; 4344551 |
| Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. | Duke Energy Corp. |
| 09/01/2046 | &nbsp;&nbsp; 3.750% | 8515000 | &nbsp;&nbsp; 6141872 |
| Edison International | Edison International | Edison International | Edison International |
| 11/15/2028 | &nbsp;&nbsp; 5.250% | 4406000 | &nbsp;&nbsp; 4368595 |
| FirstEnergy Corp. | FirstEnergy Corp. | FirstEnergy Corp. | FirstEnergy Corp. |
| 03/01/2050 | &nbsp;&nbsp; 3.400% | 1537000 | &nbsp;&nbsp; 1016607 |
| Leeward Renewable Energy Operations LLC<sup>(a)</sup>  | Leeward Renewable Energy Operations LLC<sup>(a)</sup>  | Leeward Renewable Energy Operations LLC<sup>(a)</sup>  | Leeward Renewable Energy Operations LLC<sup>(a)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 4.250% | 307000 | &nbsp;&nbsp; 268709 |
| Long Ridge Energy LLC<sup>(a)</sup>  | Long Ridge Energy LLC<sup>(a)</sup>  | Long Ridge Energy LLC<sup>(a)</sup>  | Long Ridge Energy LLC<sup>(a)</sup>  |
| 02/15/2032 | &nbsp;&nbsp; 8.750% | 1247000 | &nbsp;&nbsp; 1189489 |
| NextEra Energy Operating Partners LP<sup>(a)</sup>  | NextEra Energy Operating Partners LP<sup>(a)</sup>  | NextEra Energy Operating Partners LP<sup>(a)</sup>  | NextEra Energy Operating Partners LP<sup>(a)</sup>  |
| 09/15/2027 | &nbsp;&nbsp; 4.500% | 217000 | &nbsp;&nbsp; 205256 |
| 01/15/2029 | &nbsp;&nbsp; 7.250% | 971000 | &nbsp;&nbsp; 962475 |
| NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. | NRG Energy, Inc. |
| 01/15/2028 | &nbsp;&nbsp; 5.750% | 303000 | &nbsp;&nbsp; 303916 |
| NRG Energy, Inc.<sup>(a)</sup>  | NRG Energy, Inc.<sup>(a)</sup>  | NRG Energy, Inc.<sup>(a)</sup>  | NRG Energy, Inc.<sup>(a)</sup>  |
| 02/15/2029 | &nbsp;&nbsp; 3.375% | 182000 | &nbsp;&nbsp; 168889 |
| 06/15/2029 | &nbsp;&nbsp; 5.250% | 274000 | &nbsp;&nbsp; 270701 |
| 07/15/2029 | &nbsp;&nbsp; 5.750% | 404000 | &nbsp;&nbsp; 402372 |
| 02/15/2032 | &nbsp;&nbsp; 3.875% | 1164000 | &nbsp;&nbsp; 1042780 |
| 02/01/2033 | &nbsp;&nbsp; 6.000% | 421000 | &nbsp;&nbsp; 416493 |
| 11/01/2034 | &nbsp;&nbsp; 6.250% | 684000 | &nbsp;&nbsp; 682599 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. |
| 07/01/2050 | &nbsp;&nbsp; 4.950% | 7915000 | &nbsp;&nbsp; 6423418 |
| Pattern Energy Operations LP/Inc.<sup>(a)</sup>  | Pattern Energy Operations LP/Inc.<sup>(a)</sup>  | Pattern Energy Operations LP/Inc.<sup>(a)</sup>  | Pattern Energy Operations LP/Inc.<sup>(a)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 4.500% | 295000 | &nbsp;&nbsp; 280264 |
| PG&E Corp. | PG&E Corp. | PG&E Corp. | PG&E Corp. |
| 07/01/2028 | &nbsp;&nbsp; 5.000% | 80000 | &nbsp;&nbsp; 78077 |
| PG&E Corp.<sup>(i)</sup>  | PG&E Corp.<sup>(i)</sup>  | PG&E Corp.<sup>(i)</sup>  | PG&E Corp.<sup>(i)</sup>  |
| 03/15/2055 | &nbsp;&nbsp; 7.375% | 408000 | &nbsp;&nbsp; 397604 |
| TerraForm Power Operating LLC<sup>(a)</sup>  | TerraForm Power Operating LLC<sup>(a)</sup>  | TerraForm Power Operating LLC<sup>(a)</sup>  | TerraForm Power Operating LLC<sup>(a)</sup>  |
| 01/31/2028 | &nbsp;&nbsp; 5.000% | 709000 | &nbsp;&nbsp; 690769 |
| 01/15/2030 | &nbsp;&nbsp; 4.750% | 780000 | &nbsp;&nbsp; 733990 |
| Vistra Operations Co. LLC<sup>(a)</sup>  | Vistra Operations Co. LLC<sup>(a)</sup>  | Vistra Operations Co. LLC<sup>(a)</sup>  | Vistra Operations Co. LLC<sup>(a)</sup>  |
| 09/01/2026 | &nbsp;&nbsp; 5.500% | 68000 | &nbsp;&nbsp; 67776 |
| 07/31/2027 | &nbsp;&nbsp; 5.000% | 712000 | &nbsp;&nbsp; 705952 |
| 05/01/2029 | &nbsp;&nbsp; 4.375% | 718000 | &nbsp;&nbsp; 690737 |
| 10/15/2031 | &nbsp;&nbsp; 7.750% | 490000 | &nbsp;&nbsp; 518249 |
| 04/15/2032 | &nbsp;&nbsp; 6.875% | 271000 | &nbsp;&nbsp; 280909 |
| XPLR Infrastructure Operating Partners LP<sup>(a)</sup>  | XPLR Infrastructure Operating Partners LP<sup>(a)</sup>  | XPLR Infrastructure Operating Partners LP<sup>(a)</sup>  | XPLR Infrastructure Operating Partners LP<sup>(a)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 8.375% | 445000 | &nbsp;&nbsp; 446744 |
| 03/15/2033 | &nbsp;&nbsp; 8.625% | 1611000 | &nbsp;&nbsp; 1610208 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **43925929** |
| **Environmental 0.1%** | **Environmental 0.1%** | **Environmental 0.1%** | **Environmental 0.1%** |
| GFL Environmental, Inc.<sup>(a)</sup>  | GFL Environmental, Inc.<sup>(a)</sup>  | GFL Environmental, Inc.<sup>(a)</sup>  | GFL Environmental, Inc.<sup>(a)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 6.750% | 744000 | &nbsp;&nbsp; 774751 |
| Waste Pro USA, Inc.<sup>(a)</sup>  | Waste Pro USA, Inc.<sup>(a)</sup>  | Waste Pro USA, Inc.<sup>(a)</sup>  | Waste Pro USA, Inc.<sup>(a)</sup>  |
| 02/01/2033 | &nbsp;&nbsp; 7.000% | 680000 | &nbsp;&nbsp; 695511 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1470262** |
| **Finance Companies 0.5%** | **Finance Companies 0.5%** | **Finance Companies 0.5%** | **Finance Companies 0.5%** |
| GGAM Finance Ltd.<sup>(a)</sup>  | GGAM Finance Ltd.<sup>(a)</sup>  | GGAM Finance Ltd.<sup>(a)</sup>  | GGAM Finance Ltd.<sup>(a)</sup>  |
| 02/15/2027 | &nbsp;&nbsp; 8.000% | 646000 | &nbsp;&nbsp; 662772 |
| 04/15/2029 | &nbsp;&nbsp; 6.875% | 348000 | &nbsp;&nbsp; 355526 |
| 03/15/2030 | &nbsp;&nbsp; 5.875% | 377000 | &nbsp;&nbsp; 374445 |
| Navient Corp. | Navient Corp. | Navient Corp. | Navient Corp. |
| 03/15/2029 | &nbsp;&nbsp; 5.500% | 138000 | &nbsp;&nbsp; 130728 |
| 03/15/2031 | &nbsp;&nbsp; 11.500% | 429000 | &nbsp;&nbsp; 478350 |
| 08/01/2033 | &nbsp;&nbsp; 5.625% | 1324000 | &nbsp;&nbsp; 1134327 |
| OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
| 01/15/2027 | &nbsp;&nbsp; 3.500% | 467000 | &nbsp;&nbsp; 447072 |
| 05/15/2029 | &nbsp;&nbsp; 6.625% | 462000 | &nbsp;&nbsp; 463831 |
| 03/15/2030 | &nbsp;&nbsp; 7.875% | 257000 | &nbsp;&nbsp; 265785 |
| 09/15/2030 | &nbsp;&nbsp; 4.000% | 458000 | &nbsp;&nbsp; 405708 |
| 05/15/2031 | &nbsp;&nbsp; 7.500% | 541000 | &nbsp;&nbsp; 549185 |
| 11/15/2031 | &nbsp;&nbsp; 7.125% | 102000 | &nbsp;&nbsp; 102430 |
| 03/15/2032 | &nbsp;&nbsp; 6.750% | 566000 | &nbsp;&nbsp; 555045 |
| Provident Funding Associates LP/PFG Finance Corp.<sup>(a)</sup>  | Provident Funding Associates LP/PFG Finance Corp.<sup>(a)</sup>  | Provident Funding Associates LP/PFG Finance Corp.<sup>(a)</sup>  | Provident Funding Associates LP/PFG Finance Corp.<sup>(a)</sup>  |
| 09/15/2029 | &nbsp;&nbsp; 9.750% | 1390000 | &nbsp;&nbsp; 1427875 |
| Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(a)</sup>  | Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(a)</sup>  | Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(a)</sup>  | Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(a)</sup>  |
| 10/15/2033 | &nbsp;&nbsp; 4.000% | 2974000 | &nbsp;&nbsp; 2572684 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Springleaf Finance Corp. | Springleaf Finance Corp. | Springleaf Finance Corp. | Springleaf Finance Corp. |
| 11/15/2029 | &nbsp;&nbsp; 5.375% | 40000 | &nbsp;&nbsp; 38228 |
| United Wholesale Mortgage LLC<sup>(a)</sup>  | United Wholesale Mortgage LLC<sup>(a)</sup>  | United Wholesale Mortgage LLC<sup>(a)</sup>  | United Wholesale Mortgage LLC<sup>(a)</sup>  |
| 11/15/2025 | &nbsp;&nbsp; 5.500% | 283000 | &nbsp;&nbsp; 281680 |
| 06/15/2027 | &nbsp;&nbsp; 5.750% | 604000 | &nbsp;&nbsp; 595840 |
| 04/15/2029 | &nbsp;&nbsp; 5.500% | 755000 | &nbsp;&nbsp; 732122 |
| UWM Holdings LLC<sup>(a)</sup>  | UWM Holdings LLC<sup>(a)</sup>  | UWM Holdings LLC<sup>(a)</sup>  | UWM Holdings LLC<sup>(a)</sup>  |
| 02/01/2030 | &nbsp;&nbsp; 6.625% | 740000 | &nbsp;&nbsp; 733248 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **12306881** |
| **Food and Beverage 2.2%** | **Food and Beverage 2.2%** | **Food and Beverage 2.2%** | **Food and Beverage 2.2%** |
| 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% | 1286000 | &nbsp;&nbsp; 1285600 |
| 05/15/2048 | &nbsp;&nbsp; 5.300% | 9130000 | &nbsp;&nbsp; 7717014 |
| Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  | Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  | Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  | Bacardi Ltd./Bacardi-Martini BV<sup>(a)</sup>  |
| 06/15/2033 | &nbsp;&nbsp; 5.400% | 9565000 | &nbsp;&nbsp; 9283138 |
| Becle SAB de CV<sup>(a)</sup>  | Becle SAB de CV<sup>(a)</sup>  | Becle SAB de CV<sup>(a)</sup>  | Becle SAB de CV<sup>(a)</sup>  |
| 10/14/2031 | &nbsp;&nbsp; 2.500% | 3000000 | &nbsp;&nbsp; 2433386 |
| Campbell Soup Co. | Campbell Soup Co. | Campbell Soup Co. | Campbell Soup Co. |
| 03/23/2035 | &nbsp;&nbsp; 4.750% | 9700000 | &nbsp;&nbsp; 9275122 |
| Chobani Holdco II LLC<sup>(a),(h)</sup>  | Chobani Holdco II LLC<sup>(a),(h)</sup>  | Chobani Holdco II LLC<sup>(a),(h)</sup>  | Chobani Holdco II LLC<sup>(a),(h)</sup>  |
| 10/01/2029 | &nbsp;&nbsp; 8.750% | 1014147 | &nbsp;&nbsp; 1075100 |
| Chobani LLC/Finance Corp., Inc.<sup>(a)</sup>  | Chobani LLC/Finance Corp., Inc.<sup>(a)</sup>  | Chobani LLC/Finance Corp., Inc.<sup>(a)</sup>  | Chobani LLC/Finance Corp., Inc.<sup>(a)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 7.625% | 488000 | &nbsp;&nbsp; 511943 |
| Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
| 08/01/2029 | &nbsp;&nbsp; 3.150% | 2144000 | &nbsp;&nbsp; 2017120 |
| General Mills, Inc. | General Mills, Inc. | General Mills, Inc. | General Mills, Inc. |
| 01/30/2027 | &nbsp;&nbsp; 4.700% | 2276000 | &nbsp;&nbsp; 2289017 |
| Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
| 06/01/2026 | &nbsp;&nbsp; 3.000% | 7585000 | &nbsp;&nbsp; 7468425 |
| Lamb Weston Holdings, Inc.<sup>(a)</sup>  | Lamb Weston Holdings, Inc.<sup>(a)</sup>  | Lamb Weston Holdings, Inc.<sup>(a)</sup>  | Lamb Weston Holdings, Inc.<sup>(a)</sup>  |
| 01/31/2030 | &nbsp;&nbsp; 4.125% | 296000 | &nbsp;&nbsp; 277842 |
| Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  |
| 04/20/2028 | &nbsp;&nbsp; 4.550% | 7210000 | &nbsp;&nbsp; 7282117 |
| Pepsico Singapore Financing I Pte Ltd. | Pepsico Singapore Financing I Pte Ltd. | Pepsico Singapore Financing I Pte Ltd. | Pepsico Singapore Financing I Pte Ltd. |
| 02/16/2027 | &nbsp;&nbsp; 4.650% | 3167000 | &nbsp;&nbsp; 3200139 |
| Performance Food Group, Inc.<sup>(a)</sup>  | Performance Food Group, Inc.<sup>(a)</sup>  | Performance Food Group, Inc.<sup>(a)</sup>  | Performance Food Group, Inc.<sup>(a)</sup>  |
| 09/15/2032 | &nbsp;&nbsp; 6.125% | 144000 | &nbsp;&nbsp; 144533 |
| Post Holdings, Inc.<sup>(a)</sup>  | Post Holdings, Inc.<sup>(a)</sup>  | Post Holdings, Inc.<sup>(a)</sup>  | Post Holdings, Inc.<sup>(a)</sup>  |
| 04/15/2030 | &nbsp;&nbsp; 4.625% | 624000 | &nbsp;&nbsp; 589346 |
| 09/15/2031 | &nbsp;&nbsp; 4.500% | 1196000 | &nbsp;&nbsp; 1088428 |
| 02/15/2032 | &nbsp;&nbsp; 6.250% | 203000 | &nbsp;&nbsp; 204764 |
| Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(a)</sup>  | Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(a)</sup>  | Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(a)</sup>  | Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(a)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 6.250% | 692000 | &nbsp;&nbsp; 688871 |
| 04/30/2029 | &nbsp;&nbsp; 4.375% | 724000 | &nbsp;&nbsp; 686781 |
| Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(a)</sup>  | Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(a)</sup>  | Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(a)</sup>  | Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(a)</sup>  |
| 03/01/2029 | &nbsp;&nbsp; 4.625% | 927000 | &nbsp;&nbsp; 861289 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| US Foods, Inc.<sup>(a)</sup>  | US Foods, Inc.<sup>(a)</sup>  | US Foods, Inc.<sup>(a)</sup>  | US Foods, Inc.<sup>(a)</sup>  |
| 09/15/2028 | &nbsp;&nbsp; 6.875% | 290000 | &nbsp;&nbsp; 297714 |
| 02/15/2029 | &nbsp;&nbsp; 4.750% | 215000 | &nbsp;&nbsp; 208889 |
| 06/01/2030 | &nbsp;&nbsp; 4.625% | 721000 | &nbsp;&nbsp; 686893 |
| 01/15/2032 | &nbsp;&nbsp; 7.250% | 395000 | &nbsp;&nbsp; 413610 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **59987081** |
| **Gaming 0.3%** | **Gaming 0.3%** | **Gaming 0.3%** | **Gaming 0.3%** |
| Boyd Gaming Corp. | Boyd Gaming Corp. | Boyd Gaming Corp. | Boyd Gaming Corp. |
| 12/01/2027 | &nbsp;&nbsp; 4.750% | 420000 | &nbsp;&nbsp; 411737 |
| Boyd Gaming Corp.<sup>(a)</sup>  | Boyd Gaming Corp.<sup>(a)</sup>  | Boyd Gaming Corp.<sup>(a)</sup>  | Boyd Gaming Corp.<sup>(a)</sup>  |
| 06/15/2031 | &nbsp;&nbsp; 4.750% | 290000 | &nbsp;&nbsp; 270544 |
| Caesars Entertainment, Inc.<sup>(a)</sup>  | Caesars Entertainment, Inc.<sup>(a)</sup>  | Caesars Entertainment, Inc.<sup>(a)</sup>  | Caesars Entertainment, Inc.<sup>(a)</sup>  |
| 02/15/2030 | &nbsp;&nbsp; 7.000% | 943000 | &nbsp;&nbsp; 966254 |
| 02/15/2032 | &nbsp;&nbsp; 6.500% | 457000 | &nbsp;&nbsp; 459515 |
| 10/15/2032 | &nbsp;&nbsp; 6.000% | 245000 | &nbsp;&nbsp; 230956 |
| Churchill Downs, Inc.<sup>(a)</sup>  | Churchill Downs, Inc.<sup>(a)</sup>  | Churchill Downs, Inc.<sup>(a)</sup>  | Churchill Downs, Inc.<sup>(a)</sup>  |
| 01/15/2028 | &nbsp;&nbsp; 4.750% | 318000 | &nbsp;&nbsp; 308176 |
| Colt Merger Sub, Inc.<sup>(a)</sup>  | Colt Merger Sub, Inc.<sup>(a)</sup>  | Colt Merger Sub, Inc.<sup>(a)</sup>  | Colt Merger Sub, Inc.<sup>(a)</sup>  |
| 07/01/2027 | &nbsp;&nbsp; 8.125% | 259000 | &nbsp;&nbsp; 259683 |
| Light & Wonder International, Inc.<sup>(a)</sup>  | Light & Wonder International, Inc.<sup>(a)</sup>  | Light & Wonder International, Inc.<sup>(a)</sup>  | Light & Wonder International, Inc.<sup>(a)</sup>  |
| 09/01/2031 | &nbsp;&nbsp; 7.500% | 42000 | &nbsp;&nbsp; 43170 |
| MGM Resorts International | MGM Resorts International | MGM Resorts International | MGM Resorts International |
| 09/15/2029 | &nbsp;&nbsp; 6.125% | 405000 | &nbsp;&nbsp; 403454 |
| Midwest Gaming Borrower LLC<sup>(a)</sup>  | Midwest Gaming Borrower LLC<sup>(a)</sup>  | Midwest Gaming Borrower LLC<sup>(a)</sup>  | Midwest Gaming Borrower LLC<sup>(a)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 4.875% | 408000 | &nbsp;&nbsp; 386360 |
| Penn National Gaming, Inc.<sup>(a)</sup>  | Penn National Gaming, Inc.<sup>(a)</sup>  | Penn National Gaming, Inc.<sup>(a)</sup>  | Penn National Gaming, Inc.<sup>(a)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 4.125% | 1568000 | &nbsp;&nbsp; 1376895 |
| Rivers Enterprise Borrower LLC/Finance Corp.<sup>(a)</sup>  | Rivers Enterprise Borrower LLC/Finance Corp.<sup>(a)</sup>  | Rivers Enterprise Borrower LLC/Finance Corp.<sup>(a)</sup>  | Rivers Enterprise Borrower LLC/Finance Corp.<sup>(a)</sup>  |
| 02/01/2033 | &nbsp;&nbsp; 6.625% | 1164000 | &nbsp;&nbsp; 1150617 |
| Scientific Games Holdings LP/US FinCo, Inc.<sup>(a)</sup>  | Scientific Games Holdings LP/US FinCo, Inc.<sup>(a)</sup>  | Scientific Games Holdings LP/US FinCo, Inc.<sup>(a)</sup>  | Scientific Games Holdings LP/US FinCo, Inc.<sup>(a)</sup>  |
| 03/01/2030 | &nbsp;&nbsp; 6.625% | 1997000 | &nbsp;&nbsp; 1905090 |
| Scientific Games International, Inc.<sup>(a)</sup>  | Scientific Games International, Inc.<sup>(a)</sup>  | Scientific Games International, Inc.<sup>(a)</sup>  | Scientific Games International, Inc.<sup>(a)</sup>  |
| 11/15/2029 | &nbsp;&nbsp; 7.250% | 529000 | &nbsp;&nbsp; 538494 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8710945** |
| **Health Care 2.4%** | **Health Care 2.4%** | **Health Care 2.4%** | **Health Care 2.4%** |
| Acadia Healthcare Co., Inc.<sup>(a)</sup>  | Acadia Healthcare Co., Inc.<sup>(a)</sup>  | Acadia Healthcare Co., Inc.<sup>(a)</sup>  | Acadia Healthcare Co., Inc.<sup>(a)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 5.000% | 1399000 | &nbsp;&nbsp; 1322324 |
| 03/15/2033 | &nbsp;&nbsp; 7.375% | 553000 | &nbsp;&nbsp; 553654 |
| Avantor Funding, Inc.<sup>(a)</sup>  | Avantor Funding, Inc.<sup>(a)</sup>  | Avantor Funding, Inc.<sup>(a)</sup>  | Avantor Funding, Inc.<sup>(a)</sup>  |
| 07/15/2028 | &nbsp;&nbsp; 4.625% | 326000 | &nbsp;&nbsp; 314430 |
| 11/01/2029 | &nbsp;&nbsp; 3.875% | 1033000 | &nbsp;&nbsp; 953918 |
| Bausch & Lomb Escrow Corp.<sup>(a)</sup>  | Bausch & Lomb Escrow Corp.<sup>(a)</sup>  | Bausch & Lomb Escrow Corp.<sup>(a)</sup>  | Bausch & Lomb Escrow Corp.<sup>(a)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 8.375% | 398000 | &nbsp;&nbsp; 415095 |
| Charles River Laboratories International, Inc.<sup>(a)</sup>  | Charles River Laboratories International, Inc.<sup>(a)</sup>  | Charles River Laboratories International, Inc.<sup>(a)</sup>  | Charles River Laboratories International, Inc.<sup>(a)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 3.750% | 215000 | &nbsp;&nbsp; 196894 |
| 03/15/2031 | &nbsp;&nbsp; 4.000% | 185000 | &nbsp;&nbsp; 162589 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CHS/Community Health Systems, Inc.<sup>(a)</sup>  | CHS/Community Health Systems, Inc.<sup>(a)</sup>  | CHS/Community Health Systems, Inc.<sup>(a)</sup>  | CHS/Community Health Systems, Inc.<sup>(a)</sup>  |
| 03/15/2027 | &nbsp;&nbsp; 5.625% | 560000 | &nbsp;&nbsp; 546020 |
| 04/15/2029 | &nbsp;&nbsp; 6.875% | 522000 | &nbsp;&nbsp; 381823 |
| 05/15/2030 | &nbsp;&nbsp; 5.250% | 637000 | &nbsp;&nbsp; 543679 |
| 02/15/2031 | &nbsp;&nbsp; 4.750% | 531000 | &nbsp;&nbsp; 438437 |
| 01/15/2032 | &nbsp;&nbsp; 10.875% | 312000 | &nbsp;&nbsp; 322246 |
| Cigna Corp. | Cigna Corp. | Cigna Corp. | Cigna Corp. |
| 03/15/2050 | &nbsp;&nbsp; 3.400% | 1358000 | &nbsp;&nbsp; 902357 |
| Cigna Group (The) | Cigna Group (The) | Cigna Group (The) | Cigna Group (The) |
| 02/15/2054 | &nbsp;&nbsp; 5.600% | 1337000 | &nbsp;&nbsp; 1258890 |
| Concentra Escrow Issuer Corp.<sup>(a)</sup>  | Concentra Escrow Issuer Corp.<sup>(a)</sup>  | Concentra Escrow Issuer Corp.<sup>(a)</sup>  | Concentra Escrow Issuer Corp.<sup>(a)</sup>  |
| 07/15/2032 | &nbsp;&nbsp; 6.875% | 1358000 | &nbsp;&nbsp; 1392151 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| 03/25/2038 | &nbsp;&nbsp; 4.780% | 9450000 | &nbsp;&nbsp; 8523055 |
| 07/20/2045 | &nbsp;&nbsp; 5.125% | 3775000 | &nbsp;&nbsp; 3268292 |
| Encompass Health Corp. | Encompass Health Corp. | Encompass Health Corp. | Encompass Health Corp. |
| 02/01/2028 | &nbsp;&nbsp; 4.500% | 422000 | &nbsp;&nbsp; 414980 |
| GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. |
| 11/15/2027 | &nbsp;&nbsp; 5.650% | 9570000 | &nbsp;&nbsp; 9842386 |
| HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
| 06/01/2028 | &nbsp;&nbsp; 5.200% | 2456000 | &nbsp;&nbsp; 2495089 |
| 09/01/2030 | &nbsp;&nbsp; 3.500% | 20878000 | &nbsp;&nbsp; 19495818 |
| 03/01/2035 | &nbsp;&nbsp; 5.750% | 1320000 | &nbsp;&nbsp; 1332874 |
| IQVIA, Inc.<sup>(a)</sup>  | IQVIA, Inc.<sup>(a)</sup>  | IQVIA, Inc.<sup>(a)</sup>  | IQVIA, Inc.<sup>(a)</sup>  |
| 10/15/2026 | &nbsp;&nbsp; 5.000% | 653000 | &nbsp;&nbsp; 649036 |
| 05/15/2030 | &nbsp;&nbsp; 6.500% | 294000 | &nbsp;&nbsp; 298749 |
| LifePoint Health, Inc.<sup>(a)</sup>  | LifePoint Health, Inc.<sup>(a)</sup>  | LifePoint Health, Inc.<sup>(a)</sup>  | LifePoint Health, Inc.<sup>(a)</sup>  |
| 10/15/2030 | &nbsp;&nbsp; 11.000% | 747000 | &nbsp;&nbsp; 818106 |
| Medline Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  | Medline Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  | Medline Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  | Medline Borrower LP/Co-Issuer, Inc.<sup>(a)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 6.250% | 404000 | &nbsp;&nbsp; 407210 |
| Mozart Debt Merger Sub, Inc.<sup>(a)</sup>  | Mozart Debt Merger Sub, Inc.<sup>(a)</sup>  | Mozart Debt Merger Sub, Inc.<sup>(a)</sup>  | Mozart Debt Merger Sub, Inc.<sup>(a)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 3.875% | 580000 | &nbsp;&nbsp; 541038 |
| 10/01/2029 | &nbsp;&nbsp; 5.250% | 1078000 | &nbsp;&nbsp; 1024335 |
| Select Medical Corp.<sup>(a)</sup>  | Select Medical Corp.<sup>(a)</sup>  | Select Medical Corp.<sup>(a)</sup>  | Select Medical Corp.<sup>(a)</sup>  |
| 12/01/2032 | &nbsp;&nbsp; 6.250% | 692000 | &nbsp;&nbsp; 687168 |
| Star Parent, Inc.<sup>(a)</sup>  | Star Parent, Inc.<sup>(a)</sup>  | Star Parent, Inc.<sup>(a)</sup>  | Star Parent, Inc.<sup>(a)</sup>  |
| 10/01/2030 | &nbsp;&nbsp; 9.000% | 1420000 | &nbsp;&nbsp; 1436636 |
| Surgery Center Holdings, Inc.<sup>(a)</sup>  | Surgery Center Holdings, Inc.<sup>(a)</sup>  | Surgery Center Holdings, Inc.<sup>(a)</sup>  | Surgery Center Holdings, Inc.<sup>(a)</sup>  |
| 04/15/2032 | &nbsp;&nbsp; 7.250% | 1329000 | &nbsp;&nbsp; 1325882 |
| Tenet Healthcare Corp. | Tenet Healthcare Corp. | Tenet Healthcare Corp. | Tenet Healthcare Corp. |
| 02/01/2027 | &nbsp;&nbsp; 6.250% | 304000 | &nbsp;&nbsp; 303831 |
| 11/01/2027 | &nbsp;&nbsp; 5.125% | 521000 | &nbsp;&nbsp; 516801 |
| 06/15/2028 | &nbsp;&nbsp; 4.625% | 591000 | &nbsp;&nbsp; 575359 |
| 10/01/2028 | &nbsp;&nbsp; 6.125% | 410000 | &nbsp;&nbsp; 409091 |
| 01/15/2030 | &nbsp;&nbsp; 4.375% | 1433000 | &nbsp;&nbsp; 1358768 |
| 05/15/2031 | &nbsp;&nbsp; 6.750% | 777000 | &nbsp;&nbsp; 796674 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **66225685** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Healthcare Insurance 1.5%** | **Healthcare Insurance 1.5%** | **Healthcare Insurance 1.5%** | **Healthcare Insurance 1.5%** |
| Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. |
| 10/15/2030 | &nbsp;&nbsp; 3.000% | 21946000 | &nbsp;&nbsp; 19263420 |
| 03/01/2031 | &nbsp;&nbsp; 2.500% | 4576000 | &nbsp;&nbsp; 3882479 |
| 08/01/2031 | &nbsp;&nbsp; 2.625% | 2000 | &nbsp;&nbsp; 1690 |
| UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
| 04/15/2031 | &nbsp;&nbsp; 4.900% | 5811000 | &nbsp;&nbsp; 5915292 |
| 04/15/2034 | &nbsp;&nbsp; 5.000% | 10675000 | &nbsp;&nbsp; 10593415 |
| 04/15/2054 | &nbsp;&nbsp; 5.375% | 2403000 | &nbsp;&nbsp; 2229020 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **41885316** |
| **Home Construction 0.0%** | **Home Construction 0.0%** | **Home Construction 0.0%** | **Home Construction 0.0%** |
| Shea Homes LP/Funding Corp. | Shea Homes LP/Funding Corp. | Shea Homes LP/Funding Corp. | Shea Homes LP/Funding Corp. |
| 02/15/2028 | &nbsp;&nbsp; 4.750% | 324000 | &nbsp;&nbsp; 314144 |
| 04/01/2029 | &nbsp;&nbsp; 4.750% | 284000 | &nbsp;&nbsp; 267579 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **581723** |
| **Independent Energy 0.9%** | **Independent Energy 0.9%** | **Independent Energy 0.9%** | **Independent Energy 0.9%** |
| APA Corp.<sup>(a)</sup>  | APA Corp.<sup>(a)</sup>  | APA Corp.<sup>(a)</sup>  | APA Corp.<sup>(a)</sup>  |
| 02/15/2055 | &nbsp;&nbsp; 6.750% | 2380000 | &nbsp;&nbsp; 2096207 |
| Baytex Energy Corp.<sup>(a)</sup>  | Baytex Energy Corp.<sup>(a)</sup>  | Baytex Energy Corp.<sup>(a)</sup>  | Baytex Energy Corp.<sup>(a)</sup>  |
| 04/30/2030 | &nbsp;&nbsp; 8.500% | 393000 | &nbsp;&nbsp; 365165 |
| 03/15/2032 | &nbsp;&nbsp; 7.375% | 693000 | &nbsp;&nbsp; 597558 |
| Civitas Resources, Inc.<sup>(a)</sup>  | Civitas Resources, Inc.<sup>(a)</sup>  | Civitas Resources, Inc.<sup>(a)</sup>  | Civitas Resources, Inc.<sup>(a)</sup>  |
| 07/01/2028 | &nbsp;&nbsp; 8.375% | 190000 | &nbsp;&nbsp; 186663 |
| 11/01/2030 | &nbsp;&nbsp; 8.625% | 257000 | &nbsp;&nbsp; 248256 |
| 07/01/2031 | &nbsp;&nbsp; 8.750% | 570000 | &nbsp;&nbsp; 541350 |
| CNX Resources Corp.<sup>(a)</sup>  | CNX Resources Corp.<sup>(a)</sup>  | CNX Resources Corp.<sup>(a)</sup>  | CNX Resources Corp.<sup>(a)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 6.000% | 694000 | &nbsp;&nbsp; 672093 |
| 03/01/2032 | &nbsp;&nbsp; 7.250% | 405000 | &nbsp;&nbsp; 404928 |
| Colgate Energy Partners III LLC<sup>(a)</sup>  | Colgate Energy Partners III LLC<sup>(a)</sup>  | Colgate Energy Partners III LLC<sup>(a)</sup>  | Colgate Energy Partners III LLC<sup>(a)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 5.875% | 1382000 | &nbsp;&nbsp; 1350058 |
| Comstock Resources, Inc.<sup>(a)</sup>  | Comstock Resources, Inc.<sup>(a)</sup>  | Comstock Resources, Inc.<sup>(a)</sup>  | Comstock Resources, Inc.<sup>(a)</sup>  |
| 03/01/2029 | &nbsp;&nbsp; 6.750% | 17000 | &nbsp;&nbsp; 16133 |
| 01/15/2030 | &nbsp;&nbsp; 5.875% | 345000 | &nbsp;&nbsp; 312615 |
| CrownRock LP/Finance, Inc.<sup>(a)</sup>  | CrownRock LP/Finance, Inc.<sup>(a)</sup>  | CrownRock LP/Finance, Inc.<sup>(a)</sup>  | CrownRock LP/Finance, Inc.<sup>(a)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 5.000% | 415000 | &nbsp;&nbsp; 421659 |
| EQT Corp.<sup>(a)</sup>  | EQT Corp.<sup>(a)</sup>  | EQT Corp.<sup>(a)</sup>  | EQT Corp.<sup>(a)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 4.500% | 204000 | &nbsp;&nbsp; 197759 |
| Hilcorp Energy I LP/Finance Co.<sup>(a)</sup>  | Hilcorp Energy I LP/Finance Co.<sup>(a)</sup>  | Hilcorp Energy I LP/Finance Co.<sup>(a)</sup>  | Hilcorp Energy I LP/Finance Co.<sup>(a)</sup>  |
| 11/01/2028 | &nbsp;&nbsp; 6.250% | 167000 | &nbsp;&nbsp; 161816 |
| 02/01/2029 | &nbsp;&nbsp; 5.750% | 569000 | &nbsp;&nbsp; 532029 |
| 04/15/2030 | &nbsp;&nbsp; 6.000% | 212000 | &nbsp;&nbsp; 193731 |
| 04/15/2032 | &nbsp;&nbsp; 6.250% | 1057000 | &nbsp;&nbsp; 920758 |
| 11/01/2033 | &nbsp;&nbsp; 8.375% | 523000 | &nbsp;&nbsp; 497835 |
| 02/15/2035 | &nbsp;&nbsp; 7.250% | 1149000 | &nbsp;&nbsp; 1003010 |
| Matador Resources Co.<sup>(a)</sup>  | Matador Resources Co.<sup>(a)</sup>  | Matador Resources Co.<sup>(a)</sup>  | Matador Resources Co.<sup>(a)</sup>  |
| 04/15/2028 | &nbsp;&nbsp; 6.875% | 320000 | &nbsp;&nbsp; 318204 |
| 04/15/2032 | &nbsp;&nbsp; 6.500% | 680000 | &nbsp;&nbsp; 654719 |
| 04/15/2033 | &nbsp;&nbsp; 6.250% | 1594000 | &nbsp;&nbsp; 1497553 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. |
| 08/01/2027 | &nbsp;&nbsp; 5.000% | 1647000 | &nbsp;&nbsp; 1647287 |
| 10/01/2054 | &nbsp;&nbsp; 6.050% | 7187000 | &nbsp;&nbsp; 6194171 |
| Permian Resources Operating LLC<sup>(a)</sup>  | Permian Resources Operating LLC<sup>(a)</sup>  | Permian Resources Operating LLC<sup>(a)</sup>  | Permian Resources Operating LLC<sup>(a)</sup>  |
| 04/15/2027 | &nbsp;&nbsp; 8.000% | 560000 | &nbsp;&nbsp; 569536 |
| 01/15/2032 | &nbsp;&nbsp; 7.000% | 944000 | &nbsp;&nbsp; 951342 |
| 02/01/2033 | &nbsp;&nbsp; 6.250% | 414000 | &nbsp;&nbsp; 404584 |
| SM Energy Co.<sup>(a)</sup>  | SM Energy Co.<sup>(a)</sup>  | SM Energy Co.<sup>(a)</sup>  | SM Energy Co.<sup>(a)</sup>  |
| 08/01/2029 | &nbsp;&nbsp; 6.750% | 418000 | &nbsp;&nbsp; 390738 |
| 08/01/2032 | &nbsp;&nbsp; 7.000% | 557000 | &nbsp;&nbsp; 513601 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **23861358** |
| **Integrated Energy 0.3%** | **Integrated Energy 0.3%** | **Integrated Energy 0.3%** | **Integrated Energy 0.3%** |
| BP Capital Markets America, Inc. | BP Capital Markets America, Inc. | BP Capital Markets America, Inc. | BP Capital Markets America, Inc. |
| 11/17/2027 | &nbsp;&nbsp; 5.017% | 8385000 | &nbsp;&nbsp; 8545561 |
| **Leisure 0.3%** | **Leisure 0.3%** | **Leisure 0.3%** | **Leisure 0.3%** |
| Boyne USA, Inc.<sup>(a)</sup>  | Boyne USA, Inc.<sup>(a)</sup>  | Boyne USA, Inc.<sup>(a)</sup>  | Boyne USA, Inc.<sup>(a)</sup>  |
| 05/15/2029 | &nbsp;&nbsp; 4.750% | 140000 | &nbsp;&nbsp; 133284 |
| Carnival Corp.<sup>(a)</sup>  | Carnival Corp.<sup>(a)</sup>  | Carnival Corp.<sup>(a)</sup>  | Carnival Corp.<sup>(a)</sup>  |
| 03/01/2026 | &nbsp;&nbsp; 7.625% | 402000 | &nbsp;&nbsp; 402281 |
| 08/01/2028 | &nbsp;&nbsp; 4.000% | 582000 | &nbsp;&nbsp; 555641 |
| 08/15/2029 | &nbsp;&nbsp; 7.000% | 183000 | &nbsp;&nbsp; 191014 |
| 03/15/2030 | &nbsp;&nbsp; 5.750% | 327000 | &nbsp;&nbsp; 325133 |
| 02/15/2033 | &nbsp;&nbsp; 6.125% | 313000 | &nbsp;&nbsp; 310177 |
| Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op | Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op | Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op | Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op |
| 04/15/2027 | &nbsp;&nbsp; 5.375% | 207000 | &nbsp;&nbsp; 205905 |
| 10/01/2028 | &nbsp;&nbsp; 6.500% | 204000 | &nbsp;&nbsp; 205030 |
| Cinemark USA, Inc.<sup>(a)</sup>  | Cinemark USA, Inc.<sup>(a)</sup>  | Cinemark USA, Inc.<sup>(a)</sup>  | Cinemark USA, Inc.<sup>(a)</sup>  |
| 07/15/2028 | &nbsp;&nbsp; 5.250% | 262000 | &nbsp;&nbsp; 257551 |
| 08/01/2032 | &nbsp;&nbsp; 7.000% | 98000 | &nbsp;&nbsp; 100243 |
| Live Nation Entertainment, Inc.<sup>(a)</sup>  | Live Nation Entertainment, Inc.<sup>(a)</sup>  | Live Nation Entertainment, Inc.<sup>(a)</sup>  | Live Nation Entertainment, Inc.<sup>(a)</sup>  |
| 03/15/2026 | &nbsp;&nbsp; 5.625% | 345000 | &nbsp;&nbsp; 343411 |
| NCL Corp., Ltd.<sup>(a)</sup>  | NCL Corp., Ltd.<sup>(a)</sup>  | NCL Corp., Ltd.<sup>(a)</sup>  | NCL Corp., Ltd.<sup>(a)</sup>  |
| 02/01/2032 | &nbsp;&nbsp; 6.750% | 337000 | &nbsp;&nbsp; 329021 |
| Royal Caribbean Cruises Ltd.<sup>(a)</sup>  | Royal Caribbean Cruises Ltd.<sup>(a)</sup>  | Royal Caribbean Cruises Ltd.<sup>(a)</sup>  | Royal Caribbean Cruises Ltd.<sup>(a)</sup>  |
| 08/31/2026 | &nbsp;&nbsp; 5.500% | 519000 | &nbsp;&nbsp; 519660 |
| 07/15/2027 | &nbsp;&nbsp; 5.375% | 210000 | &nbsp;&nbsp; 209716 |
| 09/30/2031 | &nbsp;&nbsp; 5.625% | 271000 | &nbsp;&nbsp; 269134 |
| 03/15/2032 | &nbsp;&nbsp; 6.250% | 183000 | &nbsp;&nbsp; 185840 |
| 02/01/2033 | &nbsp;&nbsp; 6.000% | 349000 | &nbsp;&nbsp; 349959 |
| Six Flags Entertainment Corp.<sup>(a)</sup>  | Six Flags Entertainment Corp.<sup>(a)</sup>  | Six Flags Entertainment Corp.<sup>(a)</sup>  | Six Flags Entertainment Corp.<sup>(a)</sup>  |
| 05/15/2031 | &nbsp;&nbsp; 7.250% | 797000 | &nbsp;&nbsp; 808030 |
| Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(a)</sup>  | Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(a)</sup>  | Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(a)</sup>  | Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(a)</sup>  |
| 05/01/2032 | &nbsp;&nbsp; 6.625% | 508000 | &nbsp;&nbsp; 512658 |
| Six Flags Theme Parks, Inc.<sup>(a)</sup>  | Six Flags Theme Parks, Inc.<sup>(a)</sup>  | Six Flags Theme Parks, Inc.<sup>(a)</sup>  | Six Flags Theme Parks, Inc.<sup>(a)</sup>  |
| 07/01/2025 | &nbsp;&nbsp; 7.000% | 17000 | &nbsp;&nbsp; 17031 |
| Vail Resorts, Inc.<sup>(a)</sup>  | Vail Resorts, Inc.<sup>(a)</sup>  | Vail Resorts, Inc.<sup>(a)</sup>  | Vail Resorts, Inc.<sup>(a)</sup>  |
| 05/15/2032 | &nbsp;&nbsp; 6.500% | 297000 | &nbsp;&nbsp; 300800 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Viking Cruises Ltd.<sup>(a)</sup>  | Viking Cruises Ltd.<sup>(a)</sup>  | Viking Cruises Ltd.<sup>(a)</sup>  | Viking Cruises Ltd.<sup>(a)</sup>  |
| 02/15/2029 | &nbsp;&nbsp; 7.000% | 547000 | &nbsp;&nbsp; 548709 |
| 07/15/2031 | &nbsp;&nbsp; 9.125% | 277000 | &nbsp;&nbsp; 296169 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7376397** |
| **Life Insurance 0.1%** | **Life Insurance 0.1%** | **Life Insurance 0.1%** | **Life Insurance 0.1%** |
| Lincoln Financial Global Funding<sup>(a)</sup>  | Lincoln Financial Global Funding<sup>(a)</sup>  | Lincoln Financial Global Funding<sup>(a)</sup>  | Lincoln Financial Global Funding<sup>(a)</sup>  |
| 01/13/2030 | &nbsp;&nbsp; 5.300% | 248000 | &nbsp;&nbsp; 253971 |
| 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>  |
| 04/12/2029 | &nbsp;&nbsp; 5.250% | 3479000 | &nbsp;&nbsp; 3578228 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3832199** |
| **Lodging 0.1%** | **Lodging 0.1%** | **Lodging 0.1%** | **Lodging 0.1%** |
| Hilton Domestic Operating Co., Inc.<sup>(a)</sup>  | Hilton Domestic Operating Co., Inc.<sup>(a)</sup>  | Hilton Domestic Operating Co., Inc.<sup>(a)</sup>  | Hilton Domestic Operating Co., Inc.<sup>(a)</sup>  |
| 05/01/2025 | &nbsp;&nbsp; 5.375% | 61000 | &nbsp;&nbsp; 60999 |
| 05/01/2028 | &nbsp;&nbsp; 5.750% | 67000 | &nbsp;&nbsp; 67037 |
| 02/15/2032 | &nbsp;&nbsp; 3.625% | 1047000 | &nbsp;&nbsp; 926876 |
| 04/01/2032 | &nbsp;&nbsp; 6.125% | 671000 | &nbsp;&nbsp; 681019 |
| Hilton Grand Vacations Borrower Escrow LLC<sup>(a)</sup>  | Hilton Grand Vacations Borrower Escrow LLC<sup>(a)</sup>  | Hilton Grand Vacations Borrower Escrow LLC<sup>(a)</sup>  | Hilton Grand Vacations Borrower Escrow LLC<sup>(a)</sup>  |
| 07/01/2031 | &nbsp;&nbsp; 4.875% | 173000 | &nbsp;&nbsp; 150513 |
| 01/15/2032 | &nbsp;&nbsp; 6.625% | 825000 | &nbsp;&nbsp; 809987 |
| Hilton Worldwide Finance LLC/Corp. | Hilton Worldwide Finance LLC/Corp. | Hilton Worldwide Finance LLC/Corp. | Hilton Worldwide Finance LLC/Corp. |
| 04/01/2027 | &nbsp;&nbsp; 4.875% | 684000 | &nbsp;&nbsp; 680719 |
| Marriott Ownership Resorts, Inc.<sup>(a)</sup>  | Marriott Ownership Resorts, Inc.<sup>(a)</sup>  | Marriott Ownership Resorts, Inc.<sup>(a)</sup>  | Marriott Ownership Resorts, Inc.<sup>(a)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 4.500% | 188000 | &nbsp;&nbsp; 171152 |
| Wyndham Hotels & Resorts, Inc.<sup>(a)</sup>  | Wyndham Hotels & Resorts, Inc.<sup>(a)</sup>  | Wyndham Hotels & Resorts, Inc.<sup>(a)</sup>  | Wyndham Hotels & Resorts, Inc.<sup>(a)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 4.375% | 312000 | &nbsp;&nbsp; 299795 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3848097** |
| **Media and Entertainment 0.7%** | **Media and Entertainment 0.7%** | **Media and Entertainment 0.7%** | **Media and Entertainment 0.7%** |
| Clear Channel Outdoor Holdings, Inc.<sup>(a)</sup>  | Clear Channel Outdoor Holdings, Inc.<sup>(a)</sup>  | Clear Channel Outdoor Holdings, Inc.<sup>(a)</sup>  | Clear Channel Outdoor Holdings, Inc.<sup>(a)</sup>  |
| 04/15/2028 | &nbsp;&nbsp; 7.750% | 442000 | &nbsp;&nbsp; 366771 |
| 09/15/2028 | &nbsp;&nbsp; 9.000% | 261000 | &nbsp;&nbsp; 270559 |
| 06/01/2029 | &nbsp;&nbsp; 7.500% | 458000 | &nbsp;&nbsp; 375281 |
| 04/01/2030 | &nbsp;&nbsp; 7.875% | 1189000 | &nbsp;&nbsp; 1190198 |
| Clear Channel Worldwide Holdings, Inc.<sup>(a)</sup>  | Clear Channel Worldwide Holdings, Inc.<sup>(a)</sup>  | Clear Channel Worldwide Holdings, Inc.<sup>(a)</sup>  | Clear Channel Worldwide Holdings, Inc.<sup>(a)</sup>  |
| 08/15/2027 | &nbsp;&nbsp; 5.125% | 346000 | &nbsp;&nbsp; 336533 |
| iHeartCommunications, Inc.<sup>(a)</sup>  | iHeartCommunications, Inc.<sup>(a)</sup>  | iHeartCommunications, Inc.<sup>(a)</sup>  | iHeartCommunications, Inc.<sup>(a)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 9.125% | 510752 | &nbsp;&nbsp; 393950 |
| 05/01/2030 | &nbsp;&nbsp; 10.875% | 210388 | &nbsp;&nbsp; 88368 |
| Mav Acquisition Corp.<sup>(a)</sup>  | Mav Acquisition Corp.<sup>(a)</sup>  | Mav Acquisition Corp.<sup>(a)</sup>  | Mav Acquisition Corp.<sup>(a)</sup>  |
| 08/01/2029 | &nbsp;&nbsp; 8.000% | 271000 | &nbsp;&nbsp; 268604 |
| McGraw-Hill Education, Inc.<sup>(a)</sup>  | McGraw-Hill Education, Inc.<sup>(a)</sup>  | McGraw-Hill Education, Inc.<sup>(a)</sup>  | McGraw-Hill Education, Inc.<sup>(a)</sup>  |
| 09/01/2031 | &nbsp;&nbsp; 7.375% | 912000 | &nbsp;&nbsp; 932129 |
| Outfront Media Capital LLC/Corp.<sup>(a)</sup>  | Outfront Media Capital LLC/Corp.<sup>(a)</sup>  | Outfront Media Capital LLC/Corp.<sup>(a)</sup>  | Outfront Media Capital LLC/Corp.<sup>(a)</sup>  |
| 08/15/2027 | &nbsp;&nbsp; 5.000% | 845000 | &nbsp;&nbsp; 829070 |
| 01/15/2029 | &nbsp;&nbsp; 4.250% | 139000 | &nbsp;&nbsp; 129463 |
| 03/15/2030 | &nbsp;&nbsp; 4.625% | 764000 | &nbsp;&nbsp; 707650 |
| 02/15/2031 | &nbsp;&nbsp; 7.375% | 123000 | &nbsp;&nbsp; 128986 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Roblox Corp.<sup>(a)</sup>  | Roblox Corp.<sup>(a)</sup>  | Roblox Corp.<sup>(a)</sup>  | Roblox Corp.<sup>(a)</sup>  |
| 05/01/2030 | &nbsp;&nbsp; 3.875% | 705000 | &nbsp;&nbsp; 651932 |
| Snap, Inc.<sup>(a)</sup>  | Snap, Inc.<sup>(a)</sup>  | Snap, Inc.<sup>(a)</sup>  | Snap, Inc.<sup>(a)</sup>  |
| 03/01/2033 | &nbsp;&nbsp; 6.875% | 1352000 | &nbsp;&nbsp; 1349820 |
| Univision Communications, Inc.<sup>(a)</sup>  | Univision Communications, Inc.<sup>(a)</sup>  | Univision Communications, Inc.<sup>(a)</sup>  | Univision Communications, Inc.<sup>(a)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 8.000% | 445000 | &nbsp;&nbsp; 432700 |
| Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. |
| 03/15/2027 | &nbsp;&nbsp; 3.755% | 2569000 | &nbsp;&nbsp; 2500147 |
| 03/15/2062 | &nbsp;&nbsp; 5.391% | 11251000 | &nbsp;&nbsp; 7656902 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18609063** |
| **Metals and Mining 0.3%** | **Metals and Mining 0.3%** | **Metals and Mining 0.3%** | **Metals and Mining 0.3%** |
| Alcoa Nederland Holding BV<sup>(a)</sup>  | Alcoa Nederland Holding BV<sup>(a)</sup>  | Alcoa Nederland Holding BV<sup>(a)</sup>  | Alcoa Nederland Holding BV<sup>(a)</sup>  |
| 03/15/2031 | &nbsp;&nbsp; 7.125% | 207000 | &nbsp;&nbsp; 213236 |
| Allegheny Technologies, Inc. | Allegheny Technologies, Inc. | Allegheny Technologies, Inc. | Allegheny Technologies, Inc. |
| 10/01/2029 | &nbsp;&nbsp; 4.875% | 108000 | &nbsp;&nbsp; 103141 |
| 10/01/2031 | &nbsp;&nbsp; 5.125% | 633000 | &nbsp;&nbsp; 599216 |
| Cleveland-Cliffs, Inc.<sup>(a)</sup>  | Cleveland-Cliffs, Inc.<sup>(a)</sup>  | Cleveland-Cliffs, Inc.<sup>(a)</sup>  | Cleveland-Cliffs, Inc.<sup>(a)</sup>  |
| 11/01/2029 | &nbsp;&nbsp; 6.875% | 115000 | &nbsp;&nbsp; 111436 |
| Constellium SE<sup>(a)</sup>  | Constellium SE<sup>(a)</sup>  | Constellium SE<sup>(a)</sup>  | Constellium SE<sup>(a)</sup>  |
| 06/15/2028 | &nbsp;&nbsp; 5.625% | 747000 | &nbsp;&nbsp; 735191 |
| 04/15/2029 | &nbsp;&nbsp; 3.750% | 375000 | &nbsp;&nbsp; 344323 |
| 08/15/2032 | &nbsp;&nbsp; 6.375% | 701000 | &nbsp;&nbsp; 689821 |
| Hudbay Minerals, Inc.<sup>(a)</sup>  | Hudbay Minerals, Inc.<sup>(a)</sup>  | Hudbay Minerals, Inc.<sup>(a)</sup>  | Hudbay Minerals, Inc.<sup>(a)</sup>  |
| 04/01/2026 | &nbsp;&nbsp; 4.500% | 734000 | &nbsp;&nbsp; 720098 |
| 04/01/2029 | &nbsp;&nbsp; 6.125% | 1081000 | &nbsp;&nbsp; 1077334 |
| Kaiser Aluminum Corp.<sup>(a)</sup>  | Kaiser Aluminum Corp.<sup>(a)</sup>  | Kaiser Aluminum Corp.<sup>(a)</sup>  | Kaiser Aluminum Corp.<sup>(a)</sup>  |
| 06/01/2031 | &nbsp;&nbsp; 4.500% | 1068000 | &nbsp;&nbsp; 959382 |
| Novelis Corp.<sup>(a)</sup>  | Novelis Corp.<sup>(a)</sup>  | Novelis Corp.<sup>(a)</sup>  | Novelis Corp.<sup>(a)</sup>  |
| 11/15/2026 | &nbsp;&nbsp; 3.250% | 256000 | &nbsp;&nbsp; 248477 |
| 01/30/2030 | &nbsp;&nbsp; 4.750% | 554000 | &nbsp;&nbsp; 514503 |
| 08/15/2031 | &nbsp;&nbsp; 3.875% | 631000 | &nbsp;&nbsp; 544488 |
| Novelis, Inc.<sup>(a)</sup>  | Novelis, Inc.<sup>(a)</sup>  | Novelis, Inc.<sup>(a)</sup>  | Novelis, Inc.<sup>(a)</sup>  |
| 01/30/2030 | &nbsp;&nbsp; 6.875% | 109000 | &nbsp;&nbsp; 110590 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6971236** |
| **Midstream 0.9%** | **Midstream 0.9%** | **Midstream 0.9%** | **Midstream 0.9%** |
| Antero Midstream Partners LP/Finance Corp.<sup>(a)</sup>  | Antero Midstream Partners LP/Finance Corp.<sup>(a)</sup>  | Antero Midstream Partners LP/Finance Corp.<sup>(a)</sup>  | Antero Midstream Partners LP/Finance Corp.<sup>(a)</sup>  |
| 02/01/2032 | &nbsp;&nbsp; 6.625% | 352000 | &nbsp;&nbsp; 355503 |
| CNX Midstream Partners LP<sup>(a)</sup>  | CNX Midstream Partners LP<sup>(a)</sup>  | CNX Midstream Partners LP<sup>(a)</sup>  | CNX Midstream Partners LP<sup>(a)</sup>  |
| 04/15/2030 | &nbsp;&nbsp; 4.750% | 1023000 | &nbsp;&nbsp; 942626 |
| Delek Logistics Partners LP/Finance Corp.<sup>(a)</sup>  | Delek Logistics Partners LP/Finance Corp.<sup>(a)</sup>  | Delek Logistics Partners LP/Finance Corp.<sup>(a)</sup>  | Delek Logistics Partners LP/Finance Corp.<sup>(a)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 8.625% | 1795000 | &nbsp;&nbsp; 1844405 |
| DT Midstream, Inc.<sup>(a)</sup>  | DT Midstream, Inc.<sup>(a)</sup>  | DT Midstream, Inc.<sup>(a)</sup>  | DT Midstream, Inc.<sup>(a)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 4.125% | 891000 | &nbsp;&nbsp; 836026 |
| 06/15/2031 | &nbsp;&nbsp; 4.375% | 296000 | &nbsp;&nbsp; 273083 |
| Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
| 04/05/2027 | &nbsp;&nbsp; 5.250% | 4086000 | &nbsp;&nbsp; 4147912 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Galaxy Pipeline Assets Bidco Ltd.<sup>(a)</sup>  | Galaxy Pipeline Assets Bidco Ltd.<sup>(a)</sup>  | Galaxy Pipeline Assets Bidco Ltd.<sup>(a)</sup>  | Galaxy Pipeline Assets Bidco Ltd.<sup>(a)</sup>  |
| 09/30/2040 | &nbsp;&nbsp; 3.250% | 3995000 | &nbsp;&nbsp; 3093361 |
| Hess Midstream Operations LP<sup>(a)</sup>  | Hess Midstream Operations LP<sup>(a)</sup>  | Hess Midstream Operations LP<sup>(a)</sup>  | Hess Midstream Operations LP<sup>(a)</sup>  |
| 03/01/2028 | &nbsp;&nbsp; 5.875% | 274000 | &nbsp;&nbsp; 274464 |
| 10/15/2030 | &nbsp;&nbsp; 5.500% | 275000 | &nbsp;&nbsp; 268614 |
| ITT Holdings LLC<sup>(a)</sup>  | ITT Holdings LLC<sup>(a)</sup>  | ITT Holdings LLC<sup>(a)</sup>  | ITT Holdings LLC<sup>(a)</sup>  |
| 08/01/2029 | &nbsp;&nbsp; 6.500% | 87000 | &nbsp;&nbsp; 79534 |
| NuStar Logistics LP | NuStar Logistics LP | NuStar Logistics LP | NuStar Logistics LP |
| 06/01/2026 | &nbsp;&nbsp; 6.000% | 951000 | &nbsp;&nbsp; 951077 |
| 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. |
| 06/15/2044 | &nbsp;&nbsp; 4.700% | 1600000 | &nbsp;&nbsp; 1276738 |
| Rockies Express Pipeline LLC<sup>(a)</sup>  | Rockies Express Pipeline LLC<sup>(a)</sup>  | Rockies Express Pipeline LLC<sup>(a)</sup>  | Rockies Express Pipeline LLC<sup>(a)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.750% | 275000 | &nbsp;&nbsp; 279851 |
| Sunoco LP<sup>(a)</sup>  | Sunoco LP<sup>(a)</sup>  | Sunoco LP<sup>(a)</sup>  | Sunoco LP<sup>(a)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 7.000% | 301000 | &nbsp;&nbsp; 309466 |
| 05/01/2032 | &nbsp;&nbsp; 7.250% | 299000 | &nbsp;&nbsp; 309764 |
| 07/01/2033 | &nbsp;&nbsp; 6.250% | 496000 | &nbsp;&nbsp; 495497 |
| TransMontaigne Partners LLC<sup>(a)</sup>  | TransMontaigne Partners LLC<sup>(a)</sup>  | TransMontaigne Partners LLC<sup>(a)</sup>  | TransMontaigne Partners LLC<sup>(a)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 8.500% | 1292000 | &nbsp;&nbsp; 1300184 |
| Venture Global Calcasieu Pass LLC<sup>(a)</sup>  | Venture Global Calcasieu Pass LLC<sup>(a)</sup>  | Venture Global Calcasieu Pass LLC<sup>(a)</sup>  | Venture Global Calcasieu Pass LLC<sup>(a)</sup>  |
| 08/15/2029 | &nbsp;&nbsp; 3.875% | 898000 | &nbsp;&nbsp; 823734 |
| 08/15/2031 | &nbsp;&nbsp; 4.125% | 692000 | &nbsp;&nbsp; 622410 |
| 11/01/2033 | &nbsp;&nbsp; 3.875% | 1373000 | &nbsp;&nbsp; 1157873 |
| Venture Global LNG, Inc.<sup>(a),(i),(l)</sup>  | Venture Global LNG, Inc.<sup>(a),(i),(l)</sup>  | Venture Global LNG, Inc.<sup>(a),(i),(l)</sup>  | Venture Global LNG, Inc.<sup>(a),(i),(l)</sup>  |
|  | &nbsp;&nbsp; 9.000% | 1345000 | &nbsp;&nbsp; 1152779 |
| Venture Global LNG, Inc.<sup>(a)</sup>  | Venture Global LNG, Inc.<sup>(a)</sup>  | Venture Global LNG, Inc.<sup>(a)</sup>  | Venture Global LNG, Inc.<sup>(a)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 8.125% | 249000 | &nbsp;&nbsp; 247418 |
| 02/01/2029 | &nbsp;&nbsp; 9.500% | 507000 | &nbsp;&nbsp; 525337 |
| 01/15/2030 | &nbsp;&nbsp; 7.000% | 415000 | &nbsp;&nbsp; 391024 |
| 06/01/2031 | &nbsp;&nbsp; 8.375% | 1519000 | &nbsp;&nbsp; 1464287 |
| 02/01/2032 | &nbsp;&nbsp; 9.875% | 292000 | &nbsp;&nbsp; 296958 |
| Venture Global Plaquemines LNG LLC<sup>(a)</sup>  | Venture Global Plaquemines LNG LLC<sup>(a)</sup>  | Venture Global Plaquemines LNG LLC<sup>(a)</sup>  | Venture Global Plaquemines LNG LLC<sup>(a)</sup>  |
| 05/01/2033 | &nbsp;&nbsp; 7.500% | 348000 | &nbsp;&nbsp; 357211 |
| 05/01/2035 | &nbsp;&nbsp; 7.750% | 348000 | &nbsp;&nbsp; 357353 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **24434489** |
| **Natural Gas 0.1%** | **Natural Gas 0.1%** | **Natural Gas 0.1%** | **Natural Gas 0.1%** |
| NiSource, Inc. | NiSource, Inc. | NiSource, Inc. | NiSource, Inc. |
| 05/01/2030 | &nbsp;&nbsp; 3.600% | 3737000 | &nbsp;&nbsp; 3562842 |
| **Oil Field Services 0.3%** | **Oil Field Services 0.3%** | **Oil Field Services 0.3%** | **Oil Field Services 0.3%** |
| Archrock Partners LP/Finance Corp.<sup>(a)</sup>  | Archrock Partners LP/Finance Corp.<sup>(a)</sup>  | Archrock Partners LP/Finance Corp.<sup>(a)</sup>  | Archrock Partners LP/Finance Corp.<sup>(a)</sup>  |
| 09/01/2032 | &nbsp;&nbsp; 6.625% | 174000 | &nbsp;&nbsp; 172921 |
| Nabors Industries Ltd.<sup>(a)</sup>  | Nabors Industries Ltd.<sup>(a)</sup>  | Nabors Industries Ltd.<sup>(a)</sup>  | Nabors Industries Ltd.<sup>(a)</sup>  |
| 01/15/2028 | &nbsp;&nbsp; 7.500% | 763000 | &nbsp;&nbsp; 606778 |
| Nabors Industries, Inc.<sup>(a)</sup>  | Nabors Industries, Inc.<sup>(a)</sup>  | Nabors Industries, Inc.<sup>(a)</sup>  | Nabors Industries, Inc.<sup>(a)</sup>  |
| 01/31/2030 | &nbsp;&nbsp; 9.125% | 1175000 | &nbsp;&nbsp; 1066213 |
| 08/15/2031 | &nbsp;&nbsp; 8.875% | 1158000 | &nbsp;&nbsp; 784971 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Noble Finance II LLC<sup>(a)</sup>  | Noble Finance II LLC<sup>(a)</sup>  | Noble Finance II LLC<sup>(a)</sup>  | Noble Finance II LLC<sup>(a)</sup>  |
| 04/15/2030 | &nbsp;&nbsp; 8.000% | 206000 | &nbsp;&nbsp; 196063 |
| Transocean Aquila Ltd.<sup>(a)</sup>  | Transocean Aquila Ltd.<sup>(a)</sup>  | Transocean Aquila Ltd.<sup>(a)</sup>  | Transocean Aquila Ltd.<sup>(a)</sup>  |
| 09/30/2028 | &nbsp;&nbsp; 8.000% | 432969 | &nbsp;&nbsp; 427030 |
| Transocean Titan Financing Ltd.<sup>(a)</sup>  | Transocean Titan Financing Ltd.<sup>(a)</sup>  | Transocean Titan Financing Ltd.<sup>(a)</sup>  | Transocean Titan Financing Ltd.<sup>(a)</sup>  |
| 02/01/2028 | &nbsp;&nbsp; 8.375% | 1495572 | &nbsp;&nbsp; 1481424 |
| Transocean, Inc.<sup>(a)</sup>  | Transocean, Inc.<sup>(a)</sup>  | Transocean, Inc.<sup>(a)</sup>  | Transocean, Inc.<sup>(a)</sup>  |
| 05/15/2029 | &nbsp;&nbsp; 8.250% | 150000 | &nbsp;&nbsp; 121129 |
| 05/15/2031 | &nbsp;&nbsp; 8.500% | 696000 | &nbsp;&nbsp; 541377 |
| USA Compression Partners LP/Finance Corp.<sup>(a)</sup>  | USA Compression Partners LP/Finance Corp.<sup>(a)</sup>  | USA Compression Partners LP/Finance Corp.<sup>(a)</sup>  | USA Compression Partners LP/Finance Corp.<sup>(a)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 7.125% | 1541000 | &nbsp;&nbsp; 1555540 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6953446** |
| **Other Industry 0.0%** | **Other Industry 0.0%** | **Other Industry 0.0%** | **Other Industry 0.0%** |
| Williams Scotsman International, Inc.<sup>(a)</sup>  | Williams Scotsman International, Inc.<sup>(a)</sup>  | Williams Scotsman International, Inc.<sup>(a)</sup>  | Williams Scotsman International, Inc.<sup>(a)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 4.625% | 215000 | &nbsp;&nbsp; 206895 |
| Williams Scotsman, Inc.<sup>(a)</sup>  | Williams Scotsman, Inc.<sup>(a)</sup>  | Williams Scotsman, Inc.<sup>(a)</sup>  | Williams Scotsman, Inc.<sup>(a)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 6.625% | 173000 | &nbsp;&nbsp; 175567 |
| 04/15/2030 | &nbsp;&nbsp; 6.625% | 277000 | &nbsp;&nbsp; 282423 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **664885** |
| **Other REIT 0.2%** | **Other REIT 0.2%** | **Other REIT 0.2%** | **Other REIT 0.2%** |
| Ladder Capital Finance Holdings LLLP/Corp.<sup>(a)</sup>  | Ladder Capital Finance Holdings LLLP/Corp.<sup>(a)</sup>  | Ladder Capital Finance Holdings LLLP/Corp.<sup>(a)</sup>  | Ladder Capital Finance Holdings LLLP/Corp.<sup>(a)</sup>  |
| 10/01/2025 | &nbsp;&nbsp; 5.250% | 331000 | &nbsp;&nbsp; 329614 |
| 06/15/2029 | &nbsp;&nbsp; 4.750% | 1060000 | &nbsp;&nbsp; 1014981 |
| 07/15/2031 | &nbsp;&nbsp; 7.000% | 232000 | &nbsp;&nbsp; 239550 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(a)</sup>  | Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(a)</sup>  | Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(a)</sup>  | Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(a)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 5.875% | 401000 | &nbsp;&nbsp; 391811 |
| 05/15/2029 | &nbsp;&nbsp; 4.875% | 233000 | &nbsp;&nbsp; 218183 |
| 02/01/2030 | &nbsp;&nbsp; 7.000% | 178000 | &nbsp;&nbsp; 177970 |
| RHP Hotel Properties LP/Finance Corp.<sup>(a)</sup>  | RHP Hotel Properties LP/Finance Corp.<sup>(a)</sup>  | RHP Hotel Properties LP/Finance Corp.<sup>(a)</sup>  | RHP Hotel Properties LP/Finance Corp.<sup>(a)</sup>  |
| 04/01/2032 | &nbsp;&nbsp; 6.500% | 323000 | &nbsp;&nbsp; 322152 |
| RLJ Lodging Trust LP<sup>(a)</sup>  | RLJ Lodging Trust LP<sup>(a)</sup>  | RLJ Lodging Trust LP<sup>(a)</sup>  | RLJ Lodging Trust LP<sup>(a)</sup>  |
| 07/01/2026 | &nbsp;&nbsp; 3.750% | 219000 | &nbsp;&nbsp; 214887 |
| 09/15/2029 | &nbsp;&nbsp; 4.000% | 241000 | &nbsp;&nbsp; 217661 |
| Service Properties Trust | Service Properties Trust | Service Properties Trust | Service Properties Trust |
| 06/15/2029 | &nbsp;&nbsp; 8.375% | 227000 | &nbsp;&nbsp; 220708 |
| 06/15/2032 | &nbsp;&nbsp; 8.875% | 349000 | &nbsp;&nbsp; 337371 |
| Service Properties Trust<sup>(a)</sup>  | Service Properties Trust<sup>(a)</sup>  | Service Properties Trust<sup>(a)</sup>  | Service Properties Trust<sup>(a)</sup>  |
| 11/15/2031 | &nbsp;&nbsp; 8.625% | 309000 | &nbsp;&nbsp; 327804 |
| XHR LP<sup>(a)</sup>  | XHR LP<sup>(a)</sup>  | XHR LP<sup>(a)</sup>  | XHR LP<sup>(a)</sup>  |
| 05/15/2030 | &nbsp;&nbsp; 6.625% | 91000 | &nbsp;&nbsp; 89752 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **4102444** |
| **Packaging 0.3%** | **Packaging 0.3%** | **Packaging 0.3%** | **Packaging 0.3%** |
| Ardagh Metal Packaging Finance USA LLC/PLC<sup>(a)</sup>  | Ardagh Metal Packaging Finance USA LLC/PLC<sup>(a)</sup>  | Ardagh Metal Packaging Finance USA LLC/PLC<sup>(a)</sup>  | Ardagh Metal Packaging Finance USA LLC/PLC<sup>(a)</sup>  |
| 09/01/2029 | &nbsp;&nbsp; 4.000% | 2027000 | &nbsp;&nbsp; 1760405 |
| Canpack SA/US LLC<sup>(a)</sup>  | Canpack SA/US LLC<sup>(a)</sup>  | Canpack SA/US LLC<sup>(a)</sup>  | Canpack SA/US LLC<sup>(a)</sup>  |
| 11/15/2029 | &nbsp;&nbsp; 3.875% | 578000 | &nbsp;&nbsp; 529336 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Clydesdale Acquisition Holdings, Inc.<sup>(a)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(a)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(a)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(a)</sup>  |
| 04/15/2030 | &nbsp;&nbsp; 8.750% | 1063000 | &nbsp;&nbsp; 1095122 |
| 04/15/2032 | &nbsp;&nbsp; 6.750% | 1303000 | &nbsp;&nbsp; 1332991 |
| Crown Cork & Seal Co., Inc. | Crown Cork & Seal Co., Inc. | Crown Cork & Seal Co., Inc. | Crown Cork & Seal Co., Inc. |
| 12/15/2026 | &nbsp;&nbsp; 7.375% | 1134000 | &nbsp;&nbsp; 1165399 |
| Silgan Holdings, Inc. | Silgan Holdings, Inc. | Silgan Holdings, Inc. | Silgan Holdings, Inc. |
| 02/01/2028 | &nbsp;&nbsp; 4.125% | 876000 | &nbsp;&nbsp; 841231 |
| Trivium Packaging Finance BV<sup>(a)</sup>  | Trivium Packaging Finance BV<sup>(a)</sup>  | Trivium Packaging Finance BV<sup>(a)</sup>  | Trivium Packaging Finance BV<sup>(a)</sup>  |
| 08/15/2026 | &nbsp;&nbsp; 5.500% | 414000 | &nbsp;&nbsp; 409707 |
| 08/15/2027 | &nbsp;&nbsp; 8.500% | 202000 | &nbsp;&nbsp; 199774 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7333965** |
| **Pharmaceuticals 1.6%** | **Pharmaceuticals 1.6%** | **Pharmaceuticals 1.6%** | **Pharmaceuticals 1.6%** |
| 1261229 BC Ltd.<sup>(a)</sup>  | 1261229 BC Ltd.<sup>(a)</sup>  | 1261229 BC Ltd.<sup>(a)</sup>  | 1261229 BC Ltd.<sup>(a)</sup>  |
| 04/15/2032 | &nbsp;&nbsp; 10.000% | 1620000 | &nbsp;&nbsp; 1587406 |
| AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. | AbbVie, Inc. |
| 03/15/2029 | &nbsp;&nbsp; 4.800% | 15237000 | &nbsp;&nbsp; 15535214 |
| 11/21/2029 | &nbsp;&nbsp; 3.200% | 4208000 | &nbsp;&nbsp; 4010243 |
| Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
| 03/02/2063 | &nbsp;&nbsp; 5.750% | 3618000 | &nbsp;&nbsp; 3447031 |
| Bausch Health Companies, Inc.<sup>(a)</sup>  | Bausch Health Companies, Inc.<sup>(a)</sup>  | Bausch Health Companies, Inc.<sup>(a)</sup>  | Bausch Health Companies, Inc.<sup>(a)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 4.875% | 502000 | &nbsp;&nbsp; 407340 |
| Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. |
| 03/01/2026 | &nbsp;&nbsp; 3.650% | 18174000 | &nbsp;&nbsp; 18077178 |
| Grifols Escrow Issuer SA<sup>(a)</sup>  | Grifols Escrow Issuer SA<sup>(a)</sup>  | Grifols Escrow Issuer SA<sup>(a)</sup>  | Grifols Escrow Issuer SA<sup>(a)</sup>  |
| 10/15/2028 | &nbsp;&nbsp; 4.750% | 1465000 | &nbsp;&nbsp; 1363942 |
| Organon Finance 1 LLC<sup>(a)</sup>  | Organon Finance 1 LLC<sup>(a)</sup>  | Organon Finance 1 LLC<sup>(a)</sup>  | Organon Finance 1 LLC<sup>(a)</sup>  |
| 04/30/2028 | &nbsp;&nbsp; 4.125% | 332000 | &nbsp;&nbsp; 313166 |
| 04/30/2031 | &nbsp;&nbsp; 5.125% | 499000 | &nbsp;&nbsp; 418620 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **45160140** |
| **Property & Casualty 0.5%** | **Property & Casualty 0.5%** | **Property & Casualty 0.5%** | **Property & Casualty 0.5%** |
| Alliant Holdings Intermediate LLC/Co-Issuer<sup>(a)</sup>  | Alliant Holdings Intermediate LLC/Co-Issuer<sup>(a)</sup>  | Alliant Holdings Intermediate LLC/Co-Issuer<sup>(a)</sup>  | Alliant Holdings Intermediate LLC/Co-Issuer<sup>(a)</sup>  |
| 10/15/2027 | &nbsp;&nbsp; 4.250% | 472000 | &nbsp;&nbsp; 455748 |
| 10/15/2027 | &nbsp;&nbsp; 6.750% | 1218000 | &nbsp;&nbsp; 1212943 |
| 04/15/2028 | &nbsp;&nbsp; 6.750% | 782000 | &nbsp;&nbsp; 786881 |
| 11/01/2029 | &nbsp;&nbsp; 5.875% | 423000 | &nbsp;&nbsp; 407061 |
| 01/15/2031 | &nbsp;&nbsp; 7.000% | 952000 | &nbsp;&nbsp; 965721 |
| 10/01/2031 | &nbsp;&nbsp; 6.500% | 165000 | &nbsp;&nbsp; 164780 |
| 10/01/2032 | &nbsp;&nbsp; 7.375% | 345000 | &nbsp;&nbsp; 348041 |
| AmWINS Group, Inc.<sup>(a)</sup>  | AmWINS Group, Inc.<sup>(a)</sup>  | AmWINS Group, Inc.<sup>(a)</sup>  | AmWINS Group, Inc.<sup>(a)</sup>  |
| 02/15/2029 | &nbsp;&nbsp; 6.375% | 385000 | &nbsp;&nbsp; 389296 |
| Ardonagh Finco Ltd.<sup>(a),(m)</sup>  | Ardonagh Finco Ltd.<sup>(a),(m)</sup>  | Ardonagh Finco Ltd.<sup>(a),(m)</sup>  | Ardonagh Finco Ltd.<sup>(a),(m)</sup>  |
| 02/15/2031 | &nbsp;&nbsp; 7.750% | 724000 | &nbsp;&nbsp; 740291 |
| Ardonagh Group Finance Ltd.<sup>(a)</sup>  | Ardonagh Group Finance Ltd.<sup>(a)</sup>  | Ardonagh Group Finance Ltd.<sup>(a)</sup>  | Ardonagh Group Finance Ltd.<sup>(a)</sup>  |
| 02/15/2032 | &nbsp;&nbsp; 8.875% | 1073000 | &nbsp;&nbsp; 1094115 |
| AssuredPartners, Inc.<sup>(a)</sup>  | AssuredPartners, Inc.<sup>(a)</sup>  | AssuredPartners, Inc.<sup>(a)</sup>  | AssuredPartners, Inc.<sup>(a)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 5.625% | 618000 | &nbsp;&nbsp; 617130 |
| 02/15/2032 | &nbsp;&nbsp; 7.500% | 112000 | &nbsp;&nbsp; 119149 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| BroadStreet Partners, Inc.<sup>(a)</sup>  | BroadStreet Partners, Inc.<sup>(a)</sup>  | BroadStreet Partners, Inc.<sup>(a)</sup>  | BroadStreet Partners, Inc.<sup>(a)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 5.875% | 1398000 | &nbsp;&nbsp; 1349981 |
| HUB International Ltd.<sup>(a)</sup>  | HUB International Ltd.<sup>(a)</sup>  | HUB International Ltd.<sup>(a)</sup>  | HUB International Ltd.<sup>(a)</sup>  |
| 12/01/2029 | &nbsp;&nbsp; 5.625% | 439000 | &nbsp;&nbsp; 429757 |
| 01/31/2032 | &nbsp;&nbsp; 7.375% | 975000 | &nbsp;&nbsp; 1004546 |
| HUB International, Ltd.<sup>(a)</sup>  | HUB International, Ltd.<sup>(a)</sup>  | HUB International, Ltd.<sup>(a)</sup>  | HUB International, Ltd.<sup>(a)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 7.250% | 1320000 | &nbsp;&nbsp; 1369052 |
| Panther Escrow Issuer LLC<sup>(a)</sup>  | Panther Escrow Issuer LLC<sup>(a)</sup>  | Panther Escrow Issuer LLC<sup>(a)</sup>  | Panther Escrow Issuer LLC<sup>(a)</sup>  |
| 06/01/2031 | &nbsp;&nbsp; 7.125% | 700000 | &nbsp;&nbsp; 718477 |
| Ryan Specialty LLC<sup>(a)</sup>  | Ryan Specialty LLC<sup>(a)</sup>  | Ryan Specialty LLC<sup>(a)</sup>  | Ryan Specialty LLC<sup>(a)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 5.875% | 694000 | &nbsp;&nbsp; 686698 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **12859667** |
| **Railroads 0.4%** | **Railroads 0.4%** | **Railroads 0.4%** | **Railroads 0.4%** |
| Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. |
| 12/02/2031 | &nbsp;&nbsp; 2.450% | 6461000 | &nbsp;&nbsp; 5617003 |
| Genesee & Wyoming, Inc.<sup>(a)</sup>  | Genesee & Wyoming, Inc.<sup>(a)</sup>  | Genesee & Wyoming, Inc.<sup>(a)</sup>  | Genesee & Wyoming, Inc.<sup>(a)</sup>  |
| 04/15/2032 | &nbsp;&nbsp; 6.250% | 488000 | &nbsp;&nbsp; 494258 |
| Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. | Norfolk Southern Corp. |
| 06/15/2026 | &nbsp;&nbsp; 2.900% | 4357000 | &nbsp;&nbsp; 4289729 |
| Watco Cos LLC/Finance Corp.<sup>(a)</sup>  | Watco Cos LLC/Finance Corp.<sup>(a)</sup>  | Watco Cos LLC/Finance Corp.<sup>(a)</sup>  | Watco Cos LLC/Finance Corp.<sup>(a)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 7.125% | 944000 | &nbsp;&nbsp; 943168 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11344158** |
| **Restaurants 0.1%** | **Restaurants 0.1%** | **Restaurants 0.1%** | **Restaurants 0.1%** |
| 1011778 BC ULC/New Red Finance, Inc.<sup>(a)</sup>  | 1011778 BC ULC/New Red Finance, Inc.<sup>(a)</sup>  | 1011778 BC ULC/New Red Finance, Inc.<sup>(a)</sup>  | 1011778 BC ULC/New Red Finance, Inc.<sup>(a)</sup>  |
| 01/15/2028 | &nbsp;&nbsp; 3.875% | 714000 | &nbsp;&nbsp; 686439 |
| 09/15/2029 | &nbsp;&nbsp; 5.625% | 231000 | &nbsp;&nbsp; 230519 |
| 10/15/2030 | &nbsp;&nbsp; 4.000% | 739000 | &nbsp;&nbsp; 672756 |
| Fertitta Entertainment LLC/Finance Co., Inc.<sup>(a)</sup>  | Fertitta Entertainment LLC/Finance Co., Inc.<sup>(a)</sup>  | Fertitta Entertainment LLC/Finance Co., Inc.<sup>(a)</sup>  | Fertitta Entertainment LLC/Finance Co., Inc.<sup>(a)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 4.625% | 365000 | &nbsp;&nbsp; 338556 |
| 01/15/2030 | &nbsp;&nbsp; 6.750% | 1055000 | &nbsp;&nbsp; 921555 |
| Yum! Brands, Inc. | Yum! Brands, Inc. | Yum! Brands, Inc. | Yum! Brands, Inc. |
| 03/15/2031 | &nbsp;&nbsp; 3.625% | 223000 | &nbsp;&nbsp; 201323 |
| 04/01/2032 | &nbsp;&nbsp; 5.375% | 507000 | &nbsp;&nbsp; 498726 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3549874** |
| **Retailers 0.5%** | **Retailers 0.5%** | **Retailers 0.5%** | **Retailers 0.5%** |
| Asbury Automotive Group, Inc.<sup>(a)</sup>  | Asbury Automotive Group, Inc.<sup>(a)</sup>  | Asbury Automotive Group, Inc.<sup>(a)</sup>  | Asbury Automotive Group, Inc.<sup>(a)</sup>  |
| 02/15/2032 | &nbsp;&nbsp; 5.000% | 566000 | &nbsp;&nbsp; 515680 |
| Belron UK Finance PLC<sup>(a)</sup>  | Belron UK Finance PLC<sup>(a)</sup>  | Belron UK Finance PLC<sup>(a)</sup>  | Belron UK Finance PLC<sup>(a)</sup>  |
| 10/15/2029 | &nbsp;&nbsp; 5.750% | 409000 | &nbsp;&nbsp; 408125 |
| Group 1 Automotive, Inc.<sup>(a)</sup>  | Group 1 Automotive, Inc.<sup>(a)</sup>  | Group 1 Automotive, Inc.<sup>(a)</sup>  | Group 1 Automotive, Inc.<sup>(a)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 4.000% | 153000 | &nbsp;&nbsp; 145377 |
| 01/15/2030 | &nbsp;&nbsp; 6.375% | 88000 | &nbsp;&nbsp; 89076 |
| Hanesbrands, Inc.<sup>(a)</sup>  | Hanesbrands, Inc.<sup>(a)</sup>  | Hanesbrands, Inc.<sup>(a)</sup>  | Hanesbrands, Inc.<sup>(a)</sup>  |
| 02/15/2031 | &nbsp;&nbsp; 9.000% | 512000 | &nbsp;&nbsp; 530826 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| L Brands, Inc. | L Brands, Inc. | L Brands, Inc. | L Brands, Inc. |
| 06/15/2029 | &nbsp;&nbsp; 7.500% | 391000 | &nbsp;&nbsp; 401011 |
| 11/01/2035 | &nbsp;&nbsp; 6.875% | 336000 | &nbsp;&nbsp; 337756 |
| L Brands, Inc.<sup>(a)</sup>  | L Brands, Inc.<sup>(a)</sup>  | L Brands, Inc.<sup>(a)</sup>  | L Brands, Inc.<sup>(a)</sup>  |
| 10/01/2030 | &nbsp;&nbsp; 6.625% | 789000 | &nbsp;&nbsp; 803348 |
| LCM Investments Holdings II LLC<sup>(a)</sup>  | LCM Investments Holdings II LLC<sup>(a)</sup>  | LCM Investments Holdings II LLC<sup>(a)</sup>  | LCM Investments Holdings II LLC<sup>(a)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 4.875% | 219000 | &nbsp;&nbsp; 207051 |
| 08/01/2031 | &nbsp;&nbsp; 8.250% | 227000 | &nbsp;&nbsp; 237717 |
| Lithia Motors, Inc.<sup>(a)</sup>  | Lithia Motors, Inc.<sup>(a)</sup>  | Lithia Motors, Inc.<sup>(a)</sup>  | Lithia Motors, Inc.<sup>(a)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 4.375% | 325000 | &nbsp;&nbsp; 298494 |
| Lowe's Companies, Inc. | Lowe's Companies, Inc. | Lowe's Companies, Inc. | Lowe's Companies, Inc. |
| 04/01/2052 | &nbsp;&nbsp; 4.250% | 1949000 | &nbsp;&nbsp; 1484829 |
| 04/01/2062 | &nbsp;&nbsp; 4.450% | 8750000 | &nbsp;&nbsp; 6641965 |
| PetSmart, Inc./Finance Corp.<sup>(a)</sup>  | PetSmart, Inc./Finance Corp.<sup>(a)</sup>  | PetSmart, Inc./Finance Corp.<sup>(a)</sup>  | PetSmart, Inc./Finance Corp.<sup>(a)</sup>  |
| 02/15/2028 | &nbsp;&nbsp; 4.750% | 406000 | &nbsp;&nbsp; 387573 |
| 02/15/2029 | &nbsp;&nbsp; 7.750% | 1263000 | &nbsp;&nbsp; 1177915 |
| Walgreens Boots Alliance, Inc. | Walgreens Boots Alliance, Inc. | Walgreens Boots Alliance, Inc. | Walgreens Boots Alliance, Inc. |
| 11/18/2044 | &nbsp;&nbsp; 4.800% | 154000 | &nbsp;&nbsp; 142261 |
| Wolverine World Wide, Inc.<sup>(a)</sup>  | Wolverine World Wide, Inc.<sup>(a)</sup>  | Wolverine World Wide, Inc.<sup>(a)</sup>  | Wolverine World Wide, Inc.<sup>(a)</sup>  |
| 08/15/2029 | &nbsp;&nbsp; 4.000% | 1255000 | &nbsp;&nbsp; 1045368 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **14854372** |
| **Supermarkets 0.0%** | **Supermarkets 0.0%** | **Supermarkets 0.0%** | **Supermarkets 0.0%** |
| Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)</sup>  | Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)</sup>  | Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)</sup>  | Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)</sup>  |
| 03/15/2026 | &nbsp;&nbsp; 3.250% | 428000 | &nbsp;&nbsp; 419973 |
| 01/15/2027 | &nbsp;&nbsp; 4.625% | 279000 | &nbsp;&nbsp; 276050 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **696023** |
| **Technology 1.6%** | **Technology 1.6%** | **Technology 1.6%** | **Technology 1.6%** |
| Amentum Escrow Corp.<sup>(a)</sup>  | Amentum Escrow Corp.<sup>(a)</sup>  | Amentum Escrow Corp.<sup>(a)</sup>  | Amentum Escrow Corp.<sup>(a)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 7.250% | 684000 | &nbsp;&nbsp; 695888 |
| Block, Inc. | Block, Inc. | Block, Inc. | Block, Inc. |
| 06/01/2026 | &nbsp;&nbsp; 2.750% | 1151000 | &nbsp;&nbsp; 1123344 |
| 06/01/2031 | &nbsp;&nbsp; 3.500% | 214000 | &nbsp;&nbsp; 191197 |
| Block, Inc.<sup>(a)</sup>  | Block, Inc.<sup>(a)</sup>  | Block, Inc.<sup>(a)</sup>  | Block, Inc.<sup>(a)</sup>  |
| 05/15/2032 | &nbsp;&nbsp; 6.500% | 667000 | &nbsp;&nbsp; 682137 |
| Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  | Broadcom, Inc.<sup>(a)</sup>  |
| 11/15/2036 | &nbsp;&nbsp; 3.187% | 8341000 | &nbsp;&nbsp; 6814553 |
| Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(a)</sup>  | Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(a)</sup>  | Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(a)</sup>  | Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(a)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 8.000% | 979000 | &nbsp;&nbsp; 862195 |
| Central Parent, Inc./CDK Global, Inc.<sup>(a)</sup>  | Central Parent, Inc./CDK Global, Inc.<sup>(a)</sup>  | Central Parent, Inc./CDK Global, Inc.<sup>(a)</sup>  | Central Parent, Inc./CDK Global, Inc.<sup>(a)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 7.250% | 602000 | &nbsp;&nbsp; 517430 |
| Clarivate Science Holdings Corp.<sup>(a)</sup>  | Clarivate Science Holdings Corp.<sup>(a)</sup>  | Clarivate Science Holdings Corp.<sup>(a)</sup>  | Clarivate Science Holdings Corp.<sup>(a)</sup>  |
| 07/01/2028 | &nbsp;&nbsp; 3.875% | 590000 | &nbsp;&nbsp; 557156 |
| 07/01/2029 | &nbsp;&nbsp; 4.875% | 1191000 | &nbsp;&nbsp; 1083854 |
| Cloud Software Group, Inc.<sup>(a)</sup>  | Cloud Software Group, Inc.<sup>(a)</sup>  | Cloud Software Group, Inc.<sup>(a)</sup>  | Cloud Software Group, Inc.<sup>(a)</sup>  |
| 09/30/2029 | &nbsp;&nbsp; 9.000% | 1586000 | &nbsp;&nbsp; 1599150 |
| 06/30/2032 | &nbsp;&nbsp; 8.250% | 717000 | &nbsp;&nbsp; 748352 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Condor Merger Sub, Inc.<sup>(a)</sup>  | Condor Merger Sub, Inc.<sup>(a)</sup>  | Condor Merger Sub, Inc.<sup>(a)</sup>  | Condor Merger Sub, Inc.<sup>(a)</sup>  |
| 02/15/2030 | &nbsp;&nbsp; 7.375% | 1752000 | &nbsp;&nbsp; 1513950 |
| Dun & Bradstreet Corp. (The)<sup>(a)</sup>  | Dun & Bradstreet Corp. (The)<sup>(a)</sup>  | Dun & Bradstreet Corp. (The)<sup>(a)</sup>  | Dun & Bradstreet Corp. (The)<sup>(a)</sup>  |
| 12/15/2029 | &nbsp;&nbsp; 5.000% | 182000 | &nbsp;&nbsp; 181770 |
| Ellucian Holdings, Inc.<sup>(a)</sup>  | Ellucian Holdings, Inc.<sup>(a)</sup>  | Ellucian Holdings, Inc.<sup>(a)</sup>  | Ellucian Holdings, Inc.<sup>(a)</sup>  |
| 12/01/2029 | &nbsp;&nbsp; 6.500% | 135000 | &nbsp;&nbsp; 135260 |
| Entegris Escrow Corp.<sup>(a)</sup>  | Entegris Escrow Corp.<sup>(a)</sup>  | Entegris Escrow Corp.<sup>(a)</sup>  | Entegris Escrow Corp.<sup>(a)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 5.950% | 1096000 | &nbsp;&nbsp; 1091128 |
| Gen Digital, Inc.<sup>(a)</sup>  | Gen Digital, Inc.<sup>(a)</sup>  | Gen Digital, Inc.<sup>(a)</sup>  | Gen Digital, Inc.<sup>(a)</sup>  |
| 04/01/2033 | &nbsp;&nbsp; 6.250% | 417000 | &nbsp;&nbsp; 416012 |
| GTCR W-2 Merger Sub LLC<sup>(a)</sup>  | GTCR W-2 Merger Sub LLC<sup>(a)</sup>  | GTCR W-2 Merger Sub LLC<sup>(a)</sup>  | GTCR W-2 Merger Sub LLC<sup>(a)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 7.500% | 1258000 | &nbsp;&nbsp; 1326641 |
| HealthEquity, Inc.<sup>(a)</sup>  | HealthEquity, Inc.<sup>(a)</sup>  | HealthEquity, Inc.<sup>(a)</sup>  | HealthEquity, Inc.<sup>(a)</sup>  |
| 10/01/2029 | &nbsp;&nbsp; 4.500% | 587000 | &nbsp;&nbsp; 554587 |
| Helios Software Holdings, Inc.<sup>(a)</sup>  | Helios Software Holdings, Inc.<sup>(a)</sup>  | Helios Software Holdings, Inc.<sup>(a)</sup>  | Helios Software Holdings, Inc.<sup>(a)</sup>  |
| 05/01/2028 | &nbsp;&nbsp; 4.625% | 580000 | &nbsp;&nbsp; 522905 |
| Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(a)</sup>  | Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(a)</sup>  | Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(a)</sup>  | Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(a)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 8.750% | 939000 | &nbsp;&nbsp; 910635 |
| Intel Corp. | Intel Corp. | Intel Corp. | Intel Corp. |
| 03/25/2050 | &nbsp;&nbsp; 4.750% | 3510000 | &nbsp;&nbsp; 2750223 |
| ION Trading Technologies Sarl<sup>(a)</sup>  | ION Trading Technologies Sarl<sup>(a)</sup>  | ION Trading Technologies Sarl<sup>(a)</sup>  | ION Trading Technologies Sarl<sup>(a)</sup>  |
| 05/15/2028 | &nbsp;&nbsp; 5.750% | 560000 | &nbsp;&nbsp; 503705 |
| 05/30/2029 | &nbsp;&nbsp; 9.500% | 550000 | &nbsp;&nbsp; 535753 |
| Iron Mountain, Inc.<sup>(a)</sup>  | Iron Mountain, Inc.<sup>(a)</sup>  | Iron Mountain, Inc.<sup>(a)</sup>  | Iron Mountain, Inc.<sup>(a)</sup>  |
| 09/15/2027 | &nbsp;&nbsp; 4.875% | 555000 | &nbsp;&nbsp; 547120 |
| 07/15/2028 | &nbsp;&nbsp; 5.000% | 140000 | &nbsp;&nbsp; 136699 |
| 09/15/2029 | &nbsp;&nbsp; 4.875% | 42000 | &nbsp;&nbsp; 40488 |
| 07/15/2030 | &nbsp;&nbsp; 5.250% | 319000 | &nbsp;&nbsp; 309947 |
| 01/15/2033 | &nbsp;&nbsp; 6.250% | 151000 | &nbsp;&nbsp; 150681 |
| Minerva Merger Sub, Inc.<sup>(a)</sup>  | Minerva Merger Sub, Inc.<sup>(a)</sup>  | Minerva Merger Sub, Inc.<sup>(a)</sup>  | Minerva Merger Sub, Inc.<sup>(a)</sup>  |
| 02/15/2030 | &nbsp;&nbsp; 6.500% | 2184000 | &nbsp;&nbsp; 2088599 |
| NCR Atleos Escrow Corp.<sup>(a)</sup>  | NCR Atleos Escrow Corp.<sup>(a)</sup>  | NCR Atleos Escrow Corp.<sup>(a)</sup>  | NCR Atleos Escrow Corp.<sup>(a)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 9.500% | 855000 | &nbsp;&nbsp; 920692 |
| NCR Corp.<sup>(a)</sup>  | NCR Corp.<sup>(a)</sup>  | NCR Corp.<sup>(a)</sup>  | NCR Corp.<sup>(a)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 5.000% | 530000 | &nbsp;&nbsp; 513487 |
| 04/15/2029 | &nbsp;&nbsp; 5.125% | 160000 | &nbsp;&nbsp; 154098 |
| Neptune Bidco US, Inc.<sup>(a)</sup>  | Neptune Bidco US, Inc.<sup>(a)</sup>  | Neptune Bidco US, Inc.<sup>(a)</sup>  | Neptune Bidco US, Inc.<sup>(a)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 9.290% | 1582000 | &nbsp;&nbsp; 1407316 |
| NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. | NXP BV/Funding LLC/USA, Inc. |
| 05/01/2030 | &nbsp;&nbsp; 3.400% | 1090000 | &nbsp;&nbsp; 1010365 |
| 01/15/2033 | &nbsp;&nbsp; 5.000% | 3969000 | &nbsp;&nbsp; 3838859 |
| Picard Midco, Inc.<sup>(a)</sup>  | Picard Midco, Inc.<sup>(a)</sup>  | Picard Midco, Inc.<sup>(a)</sup>  | Picard Midco, Inc.<sup>(a)</sup>  |
| 03/31/2029 | &nbsp;&nbsp; 6.500% | 1762000 | &nbsp;&nbsp; 1763160 |
| Seagate HDD | Seagate HDD | Seagate HDD | Seagate HDD |
| 12/15/2029 | &nbsp;&nbsp; 8.250% | 290000 | &nbsp;&nbsp; 311019 |
| Sensata Technologies, Inc.<sup>(a)</sup>  | Sensata Technologies, Inc.<sup>(a)</sup>  | Sensata Technologies, Inc.<sup>(a)</sup>  | Sensata Technologies, Inc.<sup>(a)</sup>  |
| 07/15/2032 | &nbsp;&nbsp; 6.625% | 246000 | &nbsp;&nbsp; 243797 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Shift4 Payments LLC/Finance Sub, Inc.<sup>(a)</sup>  | Shift4 Payments LLC/Finance Sub, Inc.<sup>(a)</sup>  | Shift4 Payments LLC/Finance Sub, Inc.<sup>(a)</sup>  | Shift4 Payments LLC/Finance Sub, Inc.<sup>(a)</sup>  |
| 11/01/2026 | &nbsp;&nbsp; 4.625% | 830000 | &nbsp;&nbsp; 819104 |
| 08/15/2032 | &nbsp;&nbsp; 6.750% | 271000 | &nbsp;&nbsp; 274862 |
| SS&C Technologies, Inc.<sup>(a)</sup>  | SS&C Technologies, Inc.<sup>(a)</sup>  | SS&C Technologies, Inc.<sup>(a)</sup>  | SS&C Technologies, Inc.<sup>(a)</sup>  |
| 06/01/2032 | &nbsp;&nbsp; 6.500% | 283000 | &nbsp;&nbsp; 287310 |
| Synaptics, Inc.<sup>(a)</sup>  | Synaptics, Inc.<sup>(a)</sup>  | Synaptics, Inc.<sup>(a)</sup>  | Synaptics, Inc.<sup>(a)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 4.000% | 938000 | &nbsp;&nbsp; 868304 |
| UKG, Inc.<sup>(a)</sup>  | UKG, Inc.<sup>(a)</sup>  | UKG, Inc.<sup>(a)</sup>  | UKG, Inc.<sup>(a)</sup>  |
| 02/01/2031 | &nbsp;&nbsp; 6.875% | 858000 | &nbsp;&nbsp; 883359 |
| WEX, Inc.<sup>(a)</sup>  | WEX, Inc.<sup>(a)</sup>  | WEX, Inc.<sup>(a)</sup>  | WEX, Inc.<sup>(a)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.500% | 177000 | &nbsp;&nbsp; 172193 |
| ZoomInfo Technologies LLC/Finance Corp.<sup>(a)</sup>  | ZoomInfo Technologies LLC/Finance Corp.<sup>(a)</sup>  | ZoomInfo Technologies LLC/Finance Corp.<sup>(a)</sup>  | ZoomInfo Technologies LLC/Finance Corp.<sup>(a)</sup>  |
| 02/01/2029 | &nbsp;&nbsp; 3.875% | 951000 | &nbsp;&nbsp; 873804 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **42933088** |
| **Transportation Services 0.4%** | **Transportation Services 0.4%** | **Transportation Services 0.4%** | **Transportation Services 0.4%** |
| Avis Budget Car Rental LLC/Finance, Inc.<sup>(a)</sup>  | Avis Budget Car Rental LLC/Finance, Inc.<sup>(a)</sup>  | Avis Budget Car Rental LLC/Finance, Inc.<sup>(a)</sup>  | Avis Budget Car Rental LLC/Finance, Inc.<sup>(a)</sup>  |
| 01/15/2030 | &nbsp;&nbsp; 8.250% | 1097000 | &nbsp;&nbsp; 1094424 |
| 02/15/2031 | &nbsp;&nbsp; 8.000% | 507000 | &nbsp;&nbsp; 502437 |
| 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>  |
| 11/01/2025 | &nbsp;&nbsp; 3.800% | 455000 | &nbsp;&nbsp; 453088 |
| 05/01/2028 | &nbsp;&nbsp; 4.600% | 7614000 | &nbsp;&nbsp; 7673548 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9723497** |
| **Wireless 0.7%** | **Wireless 0.7%** | **Wireless 0.7%** | **Wireless 0.7%** |
| Altice France Holding SA<sup>(a)</sup>  | Altice France Holding SA<sup>(a)</sup>  | Altice France Holding SA<sup>(a)</sup>  | Altice France Holding SA<sup>(a)</sup>  |
| 02/15/2028 | &nbsp;&nbsp; 6.000% | 559000 | &nbsp;&nbsp; 172467 |
| Altice France SA<sup>(a)</sup>  | Altice France SA<sup>(a)</sup>  | Altice France SA<sup>(a)</sup>  | Altice France SA<sup>(a)</sup>  |
| 07/15/2029 | &nbsp;&nbsp; 5.125% | 675000 | &nbsp;&nbsp; 551369 |
| 10/15/2029 | &nbsp;&nbsp; 5.500% | 681000 | &nbsp;&nbsp; 556629 |
| T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. |
| 02/15/2031 | &nbsp;&nbsp; 2.875% | 12165000 | &nbsp;&nbsp; 10960974 |
| T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. | T-Mobile USA, Inc. |
| 05/15/2032 | &nbsp;&nbsp; 5.125% | 5014000 | &nbsp;&nbsp; 5071299 |
| Vmed O2 UK Financing I PLC<sup>(a)</sup>  | Vmed O2 UK Financing I PLC<sup>(a)</sup>  | Vmed O2 UK Financing I PLC<sup>(a)</sup>  | Vmed O2 UK Financing I PLC<sup>(a)</sup>  |
| 01/31/2031 | &nbsp;&nbsp; 4.250% | 1524000 | &nbsp;&nbsp; 1329121 |
| 07/15/2031 | &nbsp;&nbsp; 4.750% | 600000 | &nbsp;&nbsp; 527192 |
| 04/15/2032 | &nbsp;&nbsp; 7.750% | 858000 | &nbsp;&nbsp; 865331 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **20034382** |
| **Wirelines 0.2%** | **Wirelines 0.2%** | **Wirelines 0.2%** | **Wirelines 0.2%** |
| Fibercop SpA<sup>(a)</sup>  | Fibercop SpA<sup>(a)</sup>  | Fibercop SpA<sup>(a)</sup>  | Fibercop SpA<sup>(a)</sup>  |
| 07/18/2036 | &nbsp;&nbsp; 7.200% | 720000 | &nbsp;&nbsp; 703070 |
| Frontier Communications Holdings LLC<sup>(a)</sup>  | Frontier Communications Holdings LLC<sup>(a)</sup>  | Frontier Communications Holdings LLC<sup>(a)</sup>  | Frontier Communications Holdings LLC<sup>(a)</sup>  |
| 05/15/2030 | &nbsp;&nbsp; 8.750% | 599000 | &nbsp;&nbsp; 626930 |
| 03/15/2031 | &nbsp;&nbsp; 8.625% | 576000 | &nbsp;&nbsp; 610943 |
| Iliad Holding SAS<sup>(a)</sup>  | Iliad Holding SAS<sup>(a)</sup>  | Iliad Holding SAS<sup>(a)</sup>  | Iliad Holding SAS<sup>(a)</sup>  |
| 10/15/2028 | &nbsp;&nbsp; 7.000% | 715000 | &nbsp;&nbsp; 723562 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Iliad Holding SASU<sup>(a)</sup>  | Iliad Holding SASU<sup>(a)</sup>  | Iliad Holding SASU<sup>(a)</sup>  | Iliad Holding SASU<sup>(a)</sup>  |
| 04/15/2031 | &nbsp;&nbsp; 8.500% | 1125000 | &nbsp;&nbsp; 1186615 |
| 04/15/2032 | &nbsp;&nbsp; 7.000% | 406000 | &nbsp;&nbsp; 411243 |
| Optics Bidco SpA<sup>(a)</sup>  | Optics Bidco SpA<sup>(a)</sup>  | Optics Bidco SpA<sup>(a)</sup>  | Optics Bidco SpA<sup>(a)</sup>  |
| 06/04/2038 | &nbsp;&nbsp; 7.721% | 832000 | &nbsp;&nbsp; 828412 |
| Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. | Verizon Communications, Inc. |
| 03/21/2031 | &nbsp;&nbsp; 2.550% | 286000 | &nbsp;&nbsp; 254655 |
| Windstream Escrow LLC/Finance Corp.<sup>(a)</sup>  | Windstream Escrow LLC/Finance Corp.<sup>(a)</sup>  | Windstream Escrow LLC/Finance Corp.<sup>(a)</sup>  | Windstream Escrow LLC/Finance Corp.<sup>(a)</sup>  |
| 10/01/2031 | &nbsp;&nbsp; 8.250% | 733000 | &nbsp;&nbsp; 751575 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6097005** |
| Total Corporate Bonds & Notes <br>(Cost $835,460,088) | Total Corporate Bonds & Notes <br>(Cost $835,460,088) | Total Corporate Bonds & Notes <br>(Cost $835,460,088) | &nbsp;&nbsp; **794665385** |
| **Foreign Government Obligations**<sup>(n)</sup> **1.6%** | **Foreign Government Obligations**<sup>(n)</sup> **1.6%** | **Foreign Government Obligations**<sup>(n)</sup> **1.6%** | **Foreign Government Obligations**<sup>(n)</sup> **1.6%** |
| **Canada 0.0%** | **Canada 0.0%** | **Canada 0.0%** | **Canada 0.0%** |
| NOVA Chemicals Corp.<sup>(a)</sup>  | NOVA Chemicals Corp.<sup>(a)</sup>  | NOVA Chemicals Corp.<sup>(a)</sup>  | NOVA Chemicals Corp.<sup>(a)</sup>  |
| 05/01/2025 | &nbsp;&nbsp; 5.000% | 175000 | &nbsp;&nbsp; 174993 |
| 11/15/2028 | &nbsp;&nbsp; 8.500% | 197000 | &nbsp;&nbsp; 207465 |
| 05/15/2029 | &nbsp;&nbsp; 4.250% | 216000 | &nbsp;&nbsp; 204122 |
| 02/15/2030 | &nbsp;&nbsp; 9.000% | 486000 | &nbsp;&nbsp; 520558 |
| 12/01/2031 | &nbsp;&nbsp; 7.000% | 137000 | &nbsp;&nbsp; 141720 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1248858** |
| **Colombia 0.3%** | **Colombia 0.3%** | **Colombia 0.3%** | **Colombia 0.3%** |
| Colombia Government International Bond | Colombia Government International Bond | Colombia Government International Bond | Colombia Government International Bond |
| 04/15/2031 | &nbsp;&nbsp; 3.125% | 3793000 | &nbsp;&nbsp; 3056135 |
| 04/22/2032 | &nbsp;&nbsp; 3.250% | 2860000 | &nbsp;&nbsp; 2200198 |
| 05/15/2049 | &nbsp;&nbsp; 5.200% | 4442000 | &nbsp;&nbsp; 2870798 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8127131** |
| **Dominican Republic 0.0%** | **Dominican Republic 0.0%** | **Dominican Republic 0.0%** | **Dominican Republic 0.0%** |
| Dominican Republic International Bond<sup>(a)</sup>  | Dominican Republic International Bond<sup>(a)</sup>  | Dominican Republic International Bond<sup>(a)</sup>  | Dominican Republic International Bond<sup>(a)</sup>  |
| 01/25/2027 | &nbsp;&nbsp; 5.950% | 785000 | &nbsp;&nbsp; 788484 |
| **Egypt 0.1%** | **Egypt 0.1%** | **Egypt 0.1%** | **Egypt 0.1%** |
| Egypt Government International Bond<sup>(a)</sup>  | Egypt Government International Bond<sup>(a)</sup>  | Egypt Government International Bond<sup>(a)</sup>  | Egypt Government International Bond<sup>(a)</sup>  |
| 02/16/2031 | &nbsp;&nbsp; 5.875% | 4255000 | &nbsp;&nbsp; 3434094 |
| **India 0.1%** | **India 0.1%** | **India 0.1%** | **India 0.1%** |
| Export-Import Bank of India<sup>(a)</sup>  | Export-Import Bank of India<sup>(a)</sup>  | Export-Import Bank of India<sup>(a)</sup>  | Export-Import Bank of India<sup>(a)</sup>  |
| 01/15/2030 | &nbsp;&nbsp; 3.250% | 2250000 | &nbsp;&nbsp; 2095283 |
| **Ivory Coast 0.1%** | **Ivory Coast 0.1%** | **Ivory Coast 0.1%** | **Ivory Coast 0.1%** |
| Ivory Coast Government International Bond<sup>(a)</sup>  | Ivory Coast Government International Bond<sup>(a)</sup>  | Ivory Coast Government International Bond<sup>(a)</sup>  | Ivory Coast Government International Bond<sup>(a)</sup>  |
| 06/15/2033 | &nbsp;&nbsp; 6.125% | 2801000 | &nbsp;&nbsp; 2400579 |
| **Mexico 0.1%** | **Mexico 0.1%** | **Mexico 0.1%** | **Mexico 0.1%** |
| Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos |
| 03/13/2027 | &nbsp;&nbsp; 6.500% | 3251000 | &nbsp;&nbsp; 3178169 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(n)</sup> **(continued)** | **Foreign Government Obligations**<sup>(n)</sup> **(continued)** | **Foreign Government Obligations**<sup>(n)</sup> **(continued)** | **Foreign Government Obligations**<sup>(n)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Paraguay 0.1%** | **Paraguay 0.1%** | **Paraguay 0.1%** | **Paraguay 0.1%** |
| Paraguay Government International Bond<sup>(a)</sup>  | Paraguay Government International Bond<sup>(a)</sup>  | Paraguay Government International Bond<sup>(a)</sup>  | Paraguay Government International Bond<sup>(a)</sup>  |
| 08/11/2044 | &nbsp;&nbsp; 6.100% | 2465000 | &nbsp;&nbsp; 2322104 |
| **Qatar 0.3%** | **Qatar 0.3%** | **Qatar 0.3%** | **Qatar 0.3%** |
| Qatar Government International Bond<sup>(a)</sup>  | Qatar Government International Bond<sup>(a)</sup>  | Qatar Government International Bond<sup>(a)</sup>  | Qatar Government International Bond<sup>(a)</sup>  |
| 03/14/2049 | &nbsp;&nbsp; 4.817% | 2400000 | &nbsp;&nbsp; 2174967 |
| Qatar Petroleum<sup>(a)</sup>  | Qatar Petroleum<sup>(a)</sup>  | Qatar Petroleum<sup>(a)</sup>  | Qatar Petroleum<sup>(a)</sup>  |
| 07/12/2031 | &nbsp;&nbsp; 2.250% | 5762000 | &nbsp;&nbsp; 5045989 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7220956** |
| **Russian Federation 0.0%** | **Russian Federation 0.0%** | **Russian Federation 0.0%** | **Russian Federation 0.0%** |
| Gazprom OAO Via Gaz Capital SA<sup>(a)</sup>  | Gazprom OAO Via Gaz Capital SA<sup>(a)</sup>  | Gazprom OAO Via Gaz Capital SA<sup>(a)</sup>  | Gazprom OAO Via Gaz Capital SA<sup>(a)</sup>  |
| 02/06/2028 | &nbsp;&nbsp; 4.950% | 1320000 | &nbsp;&nbsp; 1023364 |
| **Saudi Arabia 0.2%** | **Saudi Arabia 0.2%** | **Saudi Arabia 0.2%** | **Saudi Arabia 0.2%** |
| Gaci First Investment Co.<sup>(a)</sup>  | Gaci First Investment Co.<sup>(a)</sup>  | Gaci First Investment Co.<sup>(a)</sup>  | Gaci First Investment Co.<sup>(a)</sup>  |
| 10/13/2032 | &nbsp;&nbsp; 5.250% | 4205000 | &nbsp;&nbsp; 4234502 |
| **South Africa 0.0%** | **South Africa 0.0%** | **South Africa 0.0%** | **South Africa 0.0%** |
| Republic of South Africa Government International Bond | Republic of South Africa Government International Bond | Republic of South Africa Government International Bond | Republic of South Africa Government International Bond |
| 09/30/2049 | &nbsp;&nbsp; 5.750% | 1994000 | &nbsp;&nbsp; 1423407 |
| **United Arab Emirates 0.3%** | **United Arab Emirates 0.3%** | **United Arab Emirates 0.3%** | **United Arab Emirates 0.3%** |
| DP World Ltd.<sup>(a)</sup>  | DP World Ltd.<sup>(a)</sup>  | DP World Ltd.<sup>(a)</sup>  | DP World Ltd.<sup>(a)</sup>  |
| 09/25/2048 | &nbsp;&nbsp; 5.625% | 3620000 | &nbsp;&nbsp; 3353297 |
| DP World PLC<sup>(a)</sup>  | DP World PLC<sup>(a)</sup>  | DP World PLC<sup>(a)</sup>  | DP World PLC<sup>(a)</sup>  |
| 07/02/2037 | &nbsp;&nbsp; 6.850% | 3540000 | &nbsp;&nbsp; 3867327 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7220624** |
| Total Foreign Government Obligations <br>(Cost $52,676,559) | Total Foreign Government Obligations <br>(Cost $52,676,559) | Total Foreign Government Obligations <br>(Cost $52,676,559) | &nbsp;&nbsp; **44717555** |
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| Fannie Mae REMICS<sup>(c),(p)</sup>  | Fannie Mae REMICS<sup>(c),(p)</sup>  | Fannie Mae REMICS<sup>(c),(p)</sup>  | Fannie Mae REMICS<sup>(c),(p)</sup>  |
| CMO Series 2022-27 Class SJ | CMO Series 2022-27 Class SJ | CMO Series 2022-27 Class SJ | CMO Series 2022-27 Class SJ |
| -1.0 x 30-day Average SOFR + <br> 6.100% <br>Cap 6.100% <br>06/25/2052<br>| &nbsp;&nbsp; 1.746% | 24555538 | &nbsp;&nbsp; 2639629 |
| CMO Series 2023-46 Class SC | CMO Series 2023-46 Class SC | CMO Series 2023-46 Class SC | CMO Series 2023-46 Class SC |
| -1.0 x 30-day Average SOFR + <br> 5.886% <br>Cap 6.000% <br>06/25/2050<br>| &nbsp;&nbsp; 1.532% | 33361295 | &nbsp;&nbsp; 3937210 |
| CMO Series 2023-57 Class SA | CMO Series 2023-57 Class SA | CMO Series 2023-57 Class SA | CMO Series 2023-57 Class SA |
| -1.0 x 30-day Average SOFR + <br> 5.886% <br>Cap 6.000% <br>02/25/2050<br>| &nbsp;&nbsp; 1.532% | 39181578 | &nbsp;&nbsp; 5266098 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 2023-65 Class S | CMO Series 2023-65 Class S | CMO Series 2023-65 Class S | CMO Series 2023-65 Class S |
| -1.0 x 30-day Average SOFR + <br> 5.886% <br>Cap 6.000% <br>03/25/2050<br>| &nbsp;&nbsp; 1.532% | 17041735 | &nbsp;&nbsp; 2083834 |
| Fannie Mae REMICS<sup>(c)</sup>  | Fannie Mae REMICS<sup>(c)</sup>  | Fannie Mae REMICS<sup>(c)</sup>  | Fannie Mae REMICS<sup>(c)</sup>  |
| CMO Series 2025-10 Class FB | CMO Series 2025-10 Class FB | CMO Series 2025-10 Class FB | CMO Series 2025-10 Class FB |
| 30-day Average SOFR + <br> 0.850% <br>Floor 0.850%, Cap 6.000% <br>02/25/2055<br>| &nbsp;&nbsp; 5.204% | 14395020 | &nbsp;&nbsp; 14191498 |
| CMO Series 2025-15 Class ME | CMO Series 2025-15 Class ME | CMO Series 2025-15 Class ME | CMO Series 2025-15 Class ME |
| 30-day Average SOFR + <br> 3.300% <br>Floor 3.300%, Cap 7.800% <br>04/25/2055<br>| &nbsp;&nbsp; 7.654% | 16831637 | &nbsp;&nbsp; 16907879 |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| 04/01/2026 | &nbsp;&nbsp; 4.000% | 11138 | &nbsp;&nbsp; 11087 |
| 12/01/2046 | &nbsp;&nbsp; 3.500% | 4349177 | &nbsp;&nbsp; 4016135 |
| 12/01/2051 | &nbsp;&nbsp; 2.500% | 17634243 | &nbsp;&nbsp; 14807423 |
| 02/01/2052- <br>05/01/2052<br>| &nbsp;&nbsp; 3.000% | 61937001 | &nbsp;&nbsp; 53995259 |
| 03/01/2052 | &nbsp;&nbsp; 2.000% | 25259108 | &nbsp;&nbsp; 20044654 |
| 09/01/2052- <br>11/01/2054<br>| &nbsp;&nbsp; 5.000% | 67387143 | &nbsp;&nbsp; 66736538 |
| 02/01/2053- <br>05/01/2053<br>| &nbsp;&nbsp; 4.500% | 57562101 | &nbsp;&nbsp; 55240493 |
| 12/01/2053 | &nbsp;&nbsp; 5.500% | 17933374 | &nbsp;&nbsp; 18073947 |
| 12/01/2053 | &nbsp;&nbsp; 6.000% | 21539312 | &nbsp;&nbsp; 22114318 |
| Federal Home Loan Mortgage Corp.<sup>(q)</sup>  | Federal Home Loan Mortgage Corp.<sup>(q)</sup>  | Federal Home Loan Mortgage Corp.<sup>(q)</sup>  | Federal Home Loan Mortgage Corp.<sup>(q)</sup>  |
| 09/01/2049 | &nbsp;&nbsp; 3.000% | 3949232 | &nbsp;&nbsp; 3475024 |
| Federal Home Loan Mortgage Corp.<sup>(c),(p)</sup>  | Federal Home Loan Mortgage Corp.<sup>(c),(p)</sup>  | Federal Home Loan Mortgage Corp.<sup>(c),(p)</sup>  | Federal Home Loan Mortgage Corp.<sup>(c),(p)</sup>  |
| CMO Series 3922 Class SH | CMO Series 3922 Class SH | CMO Series 3922 Class SH | CMO Series 3922 Class SH |
| -1.0 x 30-day Average SOFR + <br> 5.786% <br>Cap 5.900% <br>09/15/2041<br>| &nbsp;&nbsp; 1.441% | 152998 | &nbsp;&nbsp; 14206 |
| CMO Series 4097 Class ST | CMO Series 4097 Class ST | CMO Series 4097 Class ST | CMO Series 4097 Class ST |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>08/15/2042<br>| &nbsp;&nbsp; 1.591% | 490681 | &nbsp;&nbsp; 65619 |
| CMO Series 4620 Class AS | CMO Series 4620 Class AS | CMO Series 4620 Class AS | CMO Series 4620 Class AS |
| -1.0 x 30-day Average SOFR + <br> 0.554% <br>11/15/2042<br>| &nbsp;&nbsp; 2.077% | 451221 | &nbsp;&nbsp; 42839 |
| CMO Series 4903 Class SA | CMO Series 4903 Class SA | CMO Series 4903 Class SA | CMO Series 4903 Class SA |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>08/25/2049<br>| &nbsp;&nbsp; 1.582% | 8539286 | &nbsp;&nbsp; 1032614 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 4979 Class KS | CMO Series 4979 Class KS | CMO Series 4979 Class KS | CMO Series 4979 Class KS |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>06/25/2048<br>| &nbsp;&nbsp; 1.582% | 4261391 | &nbsp;&nbsp; 578965 |
| CMO STRIPS Series 2012-278 Class S1 | CMO STRIPS Series 2012-278 Class S1 | CMO STRIPS Series 2012-278 Class S1 | CMO STRIPS Series 2012-278 Class S1 |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>09/15/2042<br>| &nbsp;&nbsp; 1.591% | 648389 | &nbsp;&nbsp; 70367 |
| CMO STRIPS Series 309 Class S4 | CMO STRIPS Series 309 Class S4 | CMO STRIPS Series 309 Class S4 | CMO STRIPS Series 309 Class S4 |
| -1.0 x 30-day Average SOFR + <br> 5.856% <br>Cap 5.970% <br>08/15/2043<br>| &nbsp;&nbsp; 1.511% | 308959 | &nbsp;&nbsp; 34910 |
| Federal Home Loan Mortgage Corp.<sup>(p)</sup>  | Federal Home Loan Mortgage Corp.<sup>(p)</sup>  | Federal Home Loan Mortgage Corp.<sup>(p)</sup>  | Federal Home Loan Mortgage Corp.<sup>(p)</sup>  |
| CMO Series 4176 Class BI | CMO Series 4176 Class BI | CMO Series 4176 Class BI | CMO Series 4176 Class BI |
| 03/15/2043 | &nbsp;&nbsp; 3.500% | 589066 | &nbsp;&nbsp; 71098 |
| Federal Home Loan Mortgage Corp. REMICS<sup>(c),(p)</sup>  | Federal Home Loan Mortgage Corp. REMICS<sup>(c),(p)</sup>  | Federal Home Loan Mortgage Corp. REMICS<sup>(c),(p)</sup>  | Federal Home Loan Mortgage Corp. REMICS<sup>(c),(p)</sup>  |
| CMO Series 4703 Class SA | CMO Series 4703 Class SA | CMO Series 4703 Class SA | CMO Series 4703 Class SA |
| -1.0 x 30-day Average SOFR + <br> 6.036% <br>Cap 6.150% <br>07/15/2047<br>| &nbsp;&nbsp; 1.691% | 16547502 | &nbsp;&nbsp; 2029885 |
| CMO Series 4920 Class SA | CMO Series 4920 Class SA | CMO Series 4920 Class SA | CMO Series 4920 Class SA |
| -1.0 x 30-day Average SOFR + <br> 6.164% <br>Cap 6.050% <br>10/15/2049<br>| &nbsp;&nbsp; 1.582% | 30052082 | &nbsp;&nbsp; 3601568 |
| CMO Series 5345 Class SE | CMO Series 5345 Class SE | CMO Series 5345 Class SE | CMO Series 5345 Class SE |
| -1.0 x 30-day Average SOFR + <br> 5.886% <br>Cap 6.000% <br>01/15/2048<br>| &nbsp;&nbsp; 1.541% | 25297416 | &nbsp;&nbsp; 2834520 |
| Federal Home Loan Mortgage Corp. REMICS<sup>(p)</sup>  | Federal Home Loan Mortgage Corp. REMICS<sup>(p)</sup>  | Federal Home Loan Mortgage Corp. REMICS<sup>(p)</sup>  | Federal Home Loan Mortgage Corp. REMICS<sup>(p)</sup>  |
| CMO Series 5034 Class GI | CMO Series 5034 Class GI | CMO Series 5034 Class GI | CMO Series 5034 Class GI |
| 11/25/2050 | &nbsp;&nbsp; 2.500% | 16997500 | &nbsp;&nbsp; 2558447 |
| CMO Series 5078 Class TI | CMO Series 5078 Class TI | CMO Series 5078 Class TI | CMO Series 5078 Class TI |
| 02/25/2051 | &nbsp;&nbsp; 2.500% | 22506563 | &nbsp;&nbsp; 3419024 |
| CMO Series 5187 Class IK | CMO Series 5187 Class IK | CMO Series 5187 Class IK | CMO Series 5187 Class IK |
| 01/25/2052 | &nbsp;&nbsp; 3.000% | 20151247 | &nbsp;&nbsp; 3567291 |
| Federal National Mortgage Association<sup>(c)</sup>  | Federal National Mortgage Association<sup>(c)</sup>  | Federal National Mortgage Association<sup>(c)</sup>  | Federal National Mortgage Association<sup>(c)</sup>  |
| 6-month Term SOFR + 1.415% <br>Floor 1.415%, Cap 11.040% <br>06/01/2032<br>| &nbsp;&nbsp; 6.290% | 1988 | &nbsp;&nbsp; 1997 |
| 1-year CMT + 2.305% <br>Floor 2.305%, Cap 10.430% <br>07/01/2037<br>| &nbsp;&nbsp; 7.430% | 43168 | &nbsp;&nbsp; 44338 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Federal National Mortgage Association<sup>(q)</sup>  | Federal National Mortgage Association<sup>(q)</sup>  | Federal National Mortgage Association<sup>(q)</sup>  | Federal National Mortgage Association<sup>(q)</sup>  |
| 08/01/2043- <br>02/01/2048<br>| &nbsp;&nbsp; 4.000% | 7554478 | &nbsp;&nbsp; 7233213 |
| 04/01/2049- <br>01/01/2052<br>| &nbsp;&nbsp; 3.000% | 24672969 | &nbsp;&nbsp; 21660879 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| 04/01/2051- <br>04/01/2052<br>| &nbsp;&nbsp; 3.000% | 28670997 | &nbsp;&nbsp; 25123921 |
| 01/01/2052- <br>04/01/2052<br>| &nbsp;&nbsp; 2.500% | 44405376 | &nbsp;&nbsp; 37161052 |
| 04/01/2052- <br>07/01/2052<br>| &nbsp;&nbsp; 4.000% | 54340856 | &nbsp;&nbsp; 51025341 |
| 05/01/2052 | &nbsp;&nbsp; 3.500% | 71421809 | &nbsp;&nbsp; 64930846 |
| 09/01/2052- <br>09/01/2053<br>| &nbsp;&nbsp; 5.000% | 30430801 | &nbsp;&nbsp; 30115231 |
| 10/01/2053 | &nbsp;&nbsp; 5.500% | 19733098 | &nbsp;&nbsp; 19887771 |
| CMO Series 2017-72 Class B | CMO Series 2017-72 Class B | CMO Series 2017-72 Class B | CMO Series 2017-72 Class B |
| 09/25/2047 | &nbsp;&nbsp; 3.000% | 3976278 | &nbsp;&nbsp; 3681614 |
| Federal National Mortgage Association<sup>(c),(p)</sup>  | Federal National Mortgage Association<sup>(c),(p)</sup>  | Federal National Mortgage Association<sup>(c),(p)</sup>  | Federal National Mortgage Association<sup>(c),(p)</sup>  |
| CMO Series 2013-101 Class CS | CMO Series 2013-101 Class CS | CMO Series 2013-101 Class CS | CMO Series 2013-101 Class CS |
| -1.0 x 30-day Average SOFR + <br> 5.786% <br>Cap 5.900% <br>10/25/2043<br>| &nbsp;&nbsp; 1.432% | 1645363 | &nbsp;&nbsp; 186497 |
| CMO Series 2014-93 Class ES | CMO Series 2014-93 Class ES | CMO Series 2014-93 Class ES | CMO Series 2014-93 Class ES |
| -1.0 x 30-day Average SOFR + <br> 6.036% <br>Cap 6.150% <br>01/25/2045<br>| &nbsp;&nbsp; 1.682% | 970899 | &nbsp;&nbsp; 124004 |
| CMO Series 2016-31 Class VS | CMO Series 2016-31 Class VS | CMO Series 2016-31 Class VS | CMO Series 2016-31 Class VS |
| -1.0 x 30-day Average SOFR + <br> 5.886% <br>Cap 6.000% <br>06/25/2046<br>| &nbsp;&nbsp; 1.532% | 711180 | &nbsp;&nbsp; 90759 |
| CMO Series 2016-53 Class KS | CMO Series 2016-53 Class KS | CMO Series 2016-53 Class KS | CMO Series 2016-53 Class KS |
| -1.0 x 30-day Average SOFR + <br> 5.886% <br>Cap 6.000% <br>08/25/2046<br>| &nbsp;&nbsp; 1.532% | 3270734 | &nbsp;&nbsp; 401625 |
| CMO Series 2016-57 Class SA | CMO Series 2016-57 Class SA | CMO Series 2016-57 Class SA | CMO Series 2016-57 Class SA |
| -1.0 x 30-day Average SOFR + <br> 5.886% <br>Cap 6.000% <br>08/25/2046<br>| &nbsp;&nbsp; 1.532% | 6961985 | &nbsp;&nbsp; 868799 |
| CMO Series 2017-109 Class SA | CMO Series 2017-109 Class SA | CMO Series 2017-109 Class SA | CMO Series 2017-109 Class SA |
| -1.0 x 30-day Average SOFR + <br> 6.036% <br>Cap 6.150% <br>01/25/2048<br>| &nbsp;&nbsp; 1.682% | 3468157 | &nbsp;&nbsp; 429978 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 2017-20 Class SA | CMO Series 2017-20 Class SA | CMO Series 2017-20 Class SA | CMO Series 2017-20 Class SA |
| -1.0 x 30-day Average SOFR + <br> 5.986% <br>Cap 6.100% <br>04/25/2047<br>| &nbsp;&nbsp; 1.632% | 3116967 | &nbsp;&nbsp; 378675 |
| CMO Series 2017-54 Class NS | CMO Series 2017-54 Class NS | CMO Series 2017-54 Class NS | CMO Series 2017-54 Class NS |
| -1.0 x 30-day Average SOFR + <br> 6.036% <br>Cap 6.150% <br>07/25/2047<br>| &nbsp;&nbsp; 1.682% | 2847986 | &nbsp;&nbsp; 411708 |
| CMO Series 2017-54 Class SN | CMO Series 2017-54 Class SN | CMO Series 2017-54 Class SN | CMO Series 2017-54 Class SN |
| -1.0 x 30-day Average SOFR + <br> 6.036% <br>Cap 6.150% <br>07/25/2047<br>| &nbsp;&nbsp; 1.682% | 5765511 | &nbsp;&nbsp; 768208 |
| CMO Series 2018-66 Class SM | CMO Series 2018-66 Class SM | CMO Series 2018-66 Class SM | CMO Series 2018-66 Class SM |
| -1.0 x 30-day Average SOFR + <br> 6.086% <br>Cap 6.200% <br>09/25/2048<br>| &nbsp;&nbsp; 1.732% | 3767735 | &nbsp;&nbsp; 511861 |
| CMO Series 2018-67 MS Class MS | CMO Series 2018-67 MS Class MS | CMO Series 2018-67 MS Class MS | CMO Series 2018-67 MS Class MS |
| -1.0 x 30-day Average SOFR + <br> 6.086% <br>Cap 6.200% <br>09/25/2048<br>| &nbsp;&nbsp; 1.732% | 2847675 | &nbsp;&nbsp; 410043 |
| CMO Series 2018-74 Class SA | CMO Series 2018-74 Class SA | CMO Series 2018-74 Class SA | CMO Series 2018-74 Class SA |
| -1.0 x 30-day Average SOFR + <br> 6.036% <br>Cap 6.150% <br>10/25/2048<br>| &nbsp;&nbsp; 1.682% | 5131126 | &nbsp;&nbsp; 641683 |
| CMO Series 2019-33 Class SB | CMO Series 2019-33 Class SB | CMO Series 2019-33 Class SB | CMO Series 2019-33 Class SB |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>07/25/2049<br>| &nbsp;&nbsp; 1.582% | 12373273 | &nbsp;&nbsp; 1517885 |
| CMO Series 2019-42 Class SA | CMO Series 2019-42 Class SA | CMO Series 2019-42 Class SA | CMO Series 2019-42 Class SA |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>08/25/2049<br>| &nbsp;&nbsp; 1.582% | 21860170 | &nbsp;&nbsp; 2638853 |
| CMO Series 2019-60 Class SH | CMO Series 2019-60 Class SH | CMO Series 2019-60 Class SH | CMO Series 2019-60 Class SH |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>10/25/2049<br>| &nbsp;&nbsp; 1.582% | 7979809 | &nbsp;&nbsp; 967079 |
| CMO Series 2019-67 Class SE | CMO Series 2019-67 Class SE | CMO Series 2019-67 Class SE | CMO Series 2019-67 Class SE |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>11/25/2049<br>| &nbsp;&nbsp; 1.582% | 6821768 | &nbsp;&nbsp; 902145 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Federal National Mortgage Association REMICS<sup>(c),(p)</sup>  | Federal National Mortgage Association REMICS<sup>(c),(p)</sup>  | Federal National Mortgage Association REMICS<sup>(c),(p)</sup>  | Federal National Mortgage Association REMICS<sup>(c),(p)</sup>  |
| CMO Series 2013-26 Class SE | CMO Series 2013-26 Class SE | CMO Series 2013-26 Class SE | CMO Series 2013-26 Class SE |
| -1.0 x 30-day Average SOFR + <br> 6.036% <br>Cap 6.150% <br>04/25/2043<br>| &nbsp;&nbsp; 1.682% | 13646172 | &nbsp;&nbsp; 1538651 |
| CMO Series 2019-25 Class SA | CMO Series 2019-25 Class SA | CMO Series 2019-25 Class SA | CMO Series 2019-25 Class SA |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>06/25/2049<br>| &nbsp;&nbsp; 1.582% | 18796683 | &nbsp;&nbsp; 2174152 |
| Freddie Mac REMICS<sup>(p)</sup>  | Freddie Mac REMICS<sup>(p)</sup>  | Freddie Mac REMICS<sup>(p)</sup>  | Freddie Mac REMICS<sup>(p)</sup>  |
| CMO Series 5152 Class XI | CMO Series 5152 Class XI | CMO Series 5152 Class XI | CMO Series 5152 Class XI |
| 11/25/2050 | &nbsp;&nbsp; 2.500% | 36051523 | &nbsp;&nbsp; 4022755 |
| CMO Series 5287 Class NI | CMO Series 5287 Class NI | CMO Series 5287 Class NI | CMO Series 5287 Class NI |
| 05/25/2051 | &nbsp;&nbsp; 3.500% | 18814057 | &nbsp;&nbsp; 3776679 |
| Freddie Mac REMICS<sup>(c),(p)</sup>  | Freddie Mac REMICS<sup>(c),(p)</sup>  | Freddie Mac REMICS<sup>(c),(p)</sup>  | Freddie Mac REMICS<sup>(c),(p)</sup>  |
| CMO Series 5326 Class SE | CMO Series 5326 Class SE | CMO Series 5326 Class SE | CMO Series 5326 Class SE |
| -1.0 x 30-day Average SOFR + <br> 5.950% <br>Cap 5.950% <br>08/25/2053<br>| &nbsp;&nbsp; 1.596% | 19286697 | &nbsp;&nbsp; 1520339 |
| CMO Series 5362 Class S | CMO Series 5362 Class S | CMO Series 5362 Class S | CMO Series 5362 Class S |
| -1.0 x 30-day Average SOFR + <br> 5.936% <br>Cap 6.050% <br>05/15/2049<br>| &nbsp;&nbsp; 1.591% | 21915947 | &nbsp;&nbsp; 2592507 |
| Freddie Mac REMICS<sup>(c)</sup>  | Freddie Mac REMICS<sup>(c)</sup>  | Freddie Mac REMICS<sup>(c)</sup>  | Freddie Mac REMICS<sup>(c)</sup>  |
| CMO Series 5513 Class MQ | CMO Series 5513 Class MQ | CMO Series 5513 Class MQ | CMO Series 5513 Class MQ |
| 30-day Average SOFR + <br> 3.950% <br>Cap 8.250% <br>06/25/2054<br>| &nbsp;&nbsp; 8.089% | 17620431 | &nbsp;&nbsp; 18087922 |
| CMO Series 5513 Class MU | CMO Series 5513 Class MU | CMO Series 5513 Class MU | CMO Series 5513 Class MU |
| 30-day Average SOFR + <br> 3.950% <br>Cap 8.250% <br>11/25/2054<br>| &nbsp;&nbsp; 8.089% | 34151297 | &nbsp;&nbsp; 34829927 |
| CMO Series 5542 Class F | CMO Series 5542 Class F | CMO Series 5542 Class F | CMO Series 5542 Class F |
| 30-day Average SOFR + <br> 4.300% <br>05/25/2055<br>| &nbsp;&nbsp; 8.250% | 11000000 | &nbsp;&nbsp; 11115899 |
| Government National Mortgage Association<sup>(c)</sup>  | Government National Mortgage Association<sup>(c)</sup>  | Government National Mortgage Association<sup>(c)</sup>  | Government National Mortgage Association<sup>(c)</sup>  |
| 1-year CMT + 1.500% <br>Floor 1.500%, Cap 11.500% <br>07/20/2025<br>| &nbsp;&nbsp; 4.625% | 108 | &nbsp;&nbsp; 107 |
| CMO Series 2025-39 Class M | CMO Series 2025-39 Class M | CMO Series 2025-39 Class M | CMO Series 2025-39 Class M |
| 30-day Average SOFR + <br> 4.000% <br>Floor 4.000%, Cap 7.700% <br>03/20/2055<br>| &nbsp;&nbsp; 6.270% | 12910730 | &nbsp;&nbsp; 13060444 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Government National Mortgage Association<sup>(q)</sup>  | Government National Mortgage Association<sup>(q)</sup>  | Government National Mortgage Association<sup>(q)</sup>  | Government National Mortgage Association<sup>(q)</sup>  |
| 04/20/2048 | &nbsp;&nbsp; 4.500% | 2895249 | &nbsp;&nbsp; 2811741 |
| Government National Mortgage Association<sup>(p)</sup>  | Government National Mortgage Association<sup>(p)</sup>  | Government National Mortgage Association<sup>(p)</sup>  | Government National Mortgage Association<sup>(p)</sup>  |
| CMO Series 2014-184 Class CI | CMO Series 2014-184 Class CI | CMO Series 2014-184 Class CI | CMO Series 2014-184 Class CI |
| 11/16/2041 | &nbsp;&nbsp; 3.500% | 2689725 | &nbsp;&nbsp; 276351 |
| CMO Series 2020-175 Class KI | CMO Series 2020-175 Class KI | CMO Series 2020-175 Class KI | CMO Series 2020-175 Class KI |
| 11/20/2050 | &nbsp;&nbsp; 2.500% | 20644343 | &nbsp;&nbsp; 3022107 |
| CMO Series 2020-189 Class HI | CMO Series 2020-189 Class HI | CMO Series 2020-189 Class HI | CMO Series 2020-189 Class HI |
| 12/20/2050 | &nbsp;&nbsp; 3.000% | 24747039 | &nbsp;&nbsp; 3929491 |
| CMO Series 2020-191 Class UG | CMO Series 2020-191 Class UG | CMO Series 2020-191 Class UG | CMO Series 2020-191 Class UG |
| 12/20/2050 | &nbsp;&nbsp; 3.500% | 13564441 | &nbsp;&nbsp; 2325561 |
| CMO Series 2021-119 Class QI | CMO Series 2021-119 Class QI | CMO Series 2021-119 Class QI | CMO Series 2021-119 Class QI |
| 07/20/2051 | &nbsp;&nbsp; 3.000% | 18609104 | &nbsp;&nbsp; 2911175 |
| CMO Series 2021-140 Class IJ | CMO Series 2021-140 Class IJ | CMO Series 2021-140 Class IJ | CMO Series 2021-140 Class IJ |
| 08/20/2051 | &nbsp;&nbsp; 3.000% | 30736601 | &nbsp;&nbsp; 5396065 |
| CMO Series 2021-16 Class KI | CMO Series 2021-16 Class KI | CMO Series 2021-16 Class KI | CMO Series 2021-16 Class KI |
| 01/20/2051 | &nbsp;&nbsp; 2.500% | 18413777 | &nbsp;&nbsp; 2685257 |
| CMO Series 2021-89 Class IO | CMO Series 2021-89 Class IO | CMO Series 2021-89 Class IO | CMO Series 2021-89 Class IO |
| 05/20/2051 | &nbsp;&nbsp; 3.000% | 19846288 | &nbsp;&nbsp; 3112075 |
| CMO Series 2021-97 Class IQ | CMO Series 2021-97 Class IQ | CMO Series 2021-97 Class IQ | CMO Series 2021-97 Class IQ |
| 06/20/2051 | &nbsp;&nbsp; 2.500% | 11474975 | &nbsp;&nbsp; 1542172 |
| Government National Mortgage Association<sup>(c),(p)</sup>  | Government National Mortgage Association<sup>(c),(p)</sup>  | Government National Mortgage Association<sup>(c),(p)</sup>  | Government National Mortgage Association<sup>(c),(p)</sup>  |
| CMO Series 2015-110 Class MS | CMO Series 2015-110 Class MS | CMO Series 2015-110 Class MS | CMO Series 2015-110 Class MS |
| -1.0 x 1-month Term SOFR + <br> 5.596% <br>Cap 5.710% <br>08/20/2045<br>| &nbsp;&nbsp; 1.277% | 10473031 | &nbsp;&nbsp; 1128143 |
| CMO Series 2016-120 Class NS | CMO Series 2016-120 Class NS | CMO Series 2016-120 Class NS | CMO Series 2016-120 Class NS |
| -1.0 x 1-month Term SOFR + <br> 5.986% <br>Cap 6.100% <br>09/20/2046<br>| &nbsp;&nbsp; 1.667% | 19214079 | &nbsp;&nbsp; 2741824 |
| CMO Series 2017-130 Class GS | CMO Series 2017-130 Class GS | CMO Series 2017-130 Class GS | CMO Series 2017-130 Class GS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>08/20/2047<br>| &nbsp;&nbsp; 1.767% | 8493174 | &nbsp;&nbsp; 1350950 |
| CMO Series 2017-130 Class HS | CMO Series 2017-130 Class HS | CMO Series 2017-130 Class HS | CMO Series 2017-130 Class HS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>08/20/2047<br>| &nbsp;&nbsp; 1.767% | 3757340 | &nbsp;&nbsp; 461956 |
| CMO Series 2017-134 Class SD | CMO Series 2017-134 Class SD | CMO Series 2017-134 Class SD | CMO Series 2017-134 Class SD |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>09/20/2047<br>| &nbsp;&nbsp; 1.767% | 14243375 | &nbsp;&nbsp; 2130330 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 2017-149 Class BS | CMO Series 2017-149 Class BS | CMO Series 2017-149 Class BS | CMO Series 2017-149 Class BS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>10/20/2047<br>| &nbsp;&nbsp; 1.767% | 4683631 | &nbsp;&nbsp; 657917 |
| CMO Series 2017-153 Class SE | CMO Series 2017-153 Class SE | CMO Series 2017-153 Class SE | CMO Series 2017-153 Class SE |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>10/20/2047<br>| &nbsp;&nbsp; 1.767% | 18250339 | &nbsp;&nbsp; 2455829 |
| CMO Series 2017-163 Class SA | CMO Series 2017-163 Class SA | CMO Series 2017-163 Class SA | CMO Series 2017-163 Class SA |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>11/20/2047<br>| &nbsp;&nbsp; 1.767% | 1956291 | &nbsp;&nbsp; 253671 |
| CMO Series 2017-37 Class SB | CMO Series 2017-37 Class SB | CMO Series 2017-37 Class SB | CMO Series 2017-37 Class SB |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>03/20/2047<br>| &nbsp;&nbsp; 1.717% | 2841967 | &nbsp;&nbsp; 402426 |
| CMO Series 2018-103 Class SA | CMO Series 2018-103 Class SA | CMO Series 2018-103 Class SA | CMO Series 2018-103 Class SA |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>08/20/2048<br>| &nbsp;&nbsp; 1.767% | 2645259 | &nbsp;&nbsp; 348475 |
| CMO Series 2018-112 Class LS | CMO Series 2018-112 Class LS | CMO Series 2018-112 Class LS | CMO Series 2018-112 Class LS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>08/20/2048<br>| &nbsp;&nbsp; 1.767% | 3360570 | &nbsp;&nbsp; 437038 |
| CMO Series 2018-125 Class SK | CMO Series 2018-125 Class SK | CMO Series 2018-125 Class SK | CMO Series 2018-125 Class SK |
| -1.0 x 1-month Term SOFR + <br> 6.136% <br>Cap 6.250% <br>09/20/2048<br>| &nbsp;&nbsp; 1.817% | 4317892 | &nbsp;&nbsp; 502610 |
| CMO Series 2018-134 Class KS | CMO Series 2018-134 Class KS | CMO Series 2018-134 Class KS | CMO Series 2018-134 Class KS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>10/20/2048<br>| &nbsp;&nbsp; 1.767% | 3556275 | &nbsp;&nbsp; 435881 |
| CMO Series 2018-139 Class SC | CMO Series 2018-139 Class SC | CMO Series 2018-139 Class SC | CMO Series 2018-139 Class SC |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>10/20/2048<br>| &nbsp;&nbsp; 1.717% | 2472683 | &nbsp;&nbsp; 306205 |
| CMO Series 2018-148 Class HS | CMO Series 2018-148 Class HS | CMO Series 2018-148 Class HS | CMO Series 2018-148 Class HS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>11/20/2045<br>| &nbsp;&nbsp; 1.767% | 19950683 | &nbsp;&nbsp; 2558849 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 2018-148 Class SB | CMO Series 2018-148 Class SB | CMO Series 2018-148 Class SB | CMO Series 2018-148 Class SB |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>01/20/2048<br>| &nbsp;&nbsp; 1.767% | 6714658 | &nbsp;&nbsp; 950118 |
| CMO Series 2018-151 Class SA | CMO Series 2018-151 Class SA | CMO Series 2018-151 Class SA | CMO Series 2018-151 Class SA |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>11/20/2048<br>| &nbsp;&nbsp; 1.717% | 5665446 | &nbsp;&nbsp; 719060 |
| CMO Series 2018-89 Class MS | CMO Series 2018-89 Class MS | CMO Series 2018-89 Class MS | CMO Series 2018-89 Class MS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>06/20/2048<br>| &nbsp;&nbsp; 1.767% | 3396692 | &nbsp;&nbsp; 429539 |
| CMO Series 2018-89 Class SM | CMO Series 2018-89 Class SM | CMO Series 2018-89 Class SM | CMO Series 2018-89 Class SM |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>06/20/2048<br>| &nbsp;&nbsp; 1.767% | 4459258 | &nbsp;&nbsp; 502445 |
| CMO Series 2018-91 Class DS | CMO Series 2018-91 Class DS | CMO Series 2018-91 Class DS | CMO Series 2018-91 Class DS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>07/20/2048<br>| &nbsp;&nbsp; 1.767% | 3373620 | &nbsp;&nbsp; 415809 |
| CMO Series 2019-20 Class JS | CMO Series 2019-20 Class JS | CMO Series 2019-20 Class JS | CMO Series 2019-20 Class JS |
| -1.0 x 1-month Term SOFR + <br> 5.886% <br>Cap 6.000% <br>02/20/2049<br>| &nbsp;&nbsp; 1.567% | 5367072 | &nbsp;&nbsp; 650294 |
| CMO Series 2019-5 Class SH | CMO Series 2019-5 Class SH | CMO Series 2019-5 Class SH | CMO Series 2019-5 Class SH |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>01/20/2049<br>| &nbsp;&nbsp; 1.717% | 3820385 | &nbsp;&nbsp; 461875 |
| CMO Series 2019-56 Class SG | CMO Series 2019-56 Class SG | CMO Series 2019-56 Class SG | CMO Series 2019-56 Class SG |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>05/20/2049<br>| &nbsp;&nbsp; 1.717% | 4132308 | &nbsp;&nbsp; 524446 |
| CMO Series 2019-59 Class KS | CMO Series 2019-59 Class KS | CMO Series 2019-59 Class KS | CMO Series 2019-59 Class KS |
| -1.0 x 1-month Term SOFR + <br> 5.936% <br>Cap 6.050% <br>05/20/2049<br>| &nbsp;&nbsp; 1.617% | 4153306 | &nbsp;&nbsp; 540053 |
| CMO Series 2019-6 Class SD | CMO Series 2019-6 Class SD | CMO Series 2019-6 Class SD | CMO Series 2019-6 Class SD |
| -1.0 x 1-month Term SOFR + <br> 5.986% <br>Cap 6.100% <br>01/20/2049<br>| &nbsp;&nbsp; 1.667% | 17634344 | &nbsp;&nbsp; 2356259 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 2019-85 Class SC | CMO Series 2019-85 Class SC | CMO Series 2019-85 Class SC | CMO Series 2019-85 Class SC |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>07/20/2049<br>| &nbsp;&nbsp; 1.717% | 3680536 | &nbsp;&nbsp; 486363 |
| CMO Series 2019-90 Class SD | CMO Series 2019-90 Class SD | CMO Series 2019-90 Class SD | CMO Series 2019-90 Class SD |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>07/20/2049<br>| &nbsp;&nbsp; 1.717% | 5979144 | &nbsp;&nbsp; 871213 |
| CMO Series 2020-21 Class VS | CMO Series 2020-21 Class VS | CMO Series 2020-21 Class VS | CMO Series 2020-21 Class VS |
| -1.0 x 1-month Term SOFR + <br> 6.164% <br>Cap 6.050% <br>02/20/2050<br>| &nbsp;&nbsp; 1.617% | 2967005 | &nbsp;&nbsp; 424202 |
| CMO Series 2020-61 Class SW | CMO Series 2020-61 Class SW | CMO Series 2020-61 Class SW | CMO Series 2020-61 Class SW |
| -1.0 x 1-month Term SOFR + <br> 5.936% <br>Cap 6.050% <br>08/20/2049<br>| &nbsp;&nbsp; 1.617% | 22414636 | &nbsp;&nbsp; 2543851 |
| CMO Series 2020-62 Class SG | CMO Series 2020-62 Class SG | CMO Series 2020-62 Class SG | CMO Series 2020-62 Class SG |
| -1.0 x 1-month Term SOFR + <br> 6.036% <br>Cap 6.150% <br>05/20/2050<br>| &nbsp;&nbsp; 1.717% | 5152792 | &nbsp;&nbsp; 653906 |
| CMO Series 2021-116 Class YS | CMO Series 2021-116 Class YS | CMO Series 2021-116 Class YS | CMO Series 2021-116 Class YS |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>09/20/2050<br>| &nbsp;&nbsp; 1.767% | 22392473 | &nbsp;&nbsp; 3401468 |
| CMO Series 2022-18 Class SL | CMO Series 2022-18 Class SL | CMO Series 2022-18 Class SL | CMO Series 2022-18 Class SL |
| -1.0 x 30-day Average SOFR + <br> 6.300% <br>Cap 6.300% <br>01/20/2052<br>| &nbsp;&nbsp; 1.950% | 20276837 | &nbsp;&nbsp; 3200155 |
| CMO Series 2022-207 Class SC | CMO Series 2022-207 Class SC | CMO Series 2022-207 Class SC | CMO Series 2022-207 Class SC |
| -1.0 x 1-month Term SOFR + <br> 5.986% <br>Cap 6.100% <br>01/20/2050<br>| &nbsp;&nbsp; 1.667% | 35430965 | &nbsp;&nbsp; 4597614 |
| CMO Series 2022-63 Class GS | CMO Series 2022-63 Class GS | CMO Series 2022-63 Class GS | CMO Series 2022-63 Class GS |
| -1.0 x 30-day Average SOFR + <br> 5.500% <br>Cap 5.500% <br>04/20/2052<br>| &nbsp;&nbsp; 1.150% | 26445980 | &nbsp;&nbsp; 3150528 |
| CMO Series 2022-81 Class SK | CMO Series 2022-81 Class SK | CMO Series 2022-81 Class SK | CMO Series 2022-81 Class SK |
| -1.0 x 1-month Term SOFR + <br> 6.086% <br>Cap 6.200% <br>08/20/2047<br>| &nbsp;&nbsp; 1.767% | 18827312 | &nbsp;&nbsp; 2258641 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 2023-101 Class SE | CMO Series 2023-101 Class SE | CMO Series 2023-101 Class SE | CMO Series 2023-101 Class SE |
| -1.0 x 30-day Average SOFR + <br> 6.000% <br>Cap 6.000% <br>07/20/2053<br>| &nbsp;&nbsp; 1.650% | 24612223 | &nbsp;&nbsp; 1425919 |
| CMO Series 2023-132 Class SB | CMO Series 2023-132 Class SB | CMO Series 2023-132 Class SB | CMO Series 2023-132 Class SB |
| -1.0 x 30-day Average SOFR + <br> 6.500% <br>Cap 6.500% <br>09/20/2053<br>| &nbsp;&nbsp; 2.150% | 44330502 | &nbsp;&nbsp; 3898801 |
| CMO Series 2023-141 Class SN | CMO Series 2023-141 Class SN | CMO Series 2023-141 Class SN | CMO Series 2023-141 Class SN |
| -1.0 x 1-month Term SOFR + <br> 5.936% <br>Cap 6.050% <br>04/20/2049<br>| &nbsp;&nbsp; 1.617% | 33489176 | &nbsp;&nbsp; 4562190 |
| CMO Series 2023-17 Class SY | CMO Series 2023-17 Class SY | CMO Series 2023-17 Class SY | CMO Series 2023-17 Class SY |
| -1.0 x 1-month Term SOFR + <br> 5.936% <br>Cap 6.050% <br>05/20/2050<br>| &nbsp;&nbsp; 1.617% | 34095952 | &nbsp;&nbsp; 4451117 |
| CMO Series 2023-66 Class AS | CMO Series 2023-66 Class AS | CMO Series 2023-66 Class AS | CMO Series 2023-66 Class AS |
| -1.0 x 1-month Term SOFR + <br> 5.986% <br>Cap 6.100% <br>09/20/2049<br>| &nbsp;&nbsp; 1.667% | 29508552 | &nbsp;&nbsp; 3857066 |
| CMO Series 2024-30 Class XH | CMO Series 2024-30 Class XH | CMO Series 2024-30 Class XH | CMO Series 2024-30 Class XH |
| -1.0 x 30-day Average SOFR + <br> 5.850% <br>Cap 5.850% <br>02/20/2054<br>| &nbsp;&nbsp; 1.500% | 33196635 | &nbsp;&nbsp; 3233996 |
| CMO Series 2024-51 Class SA | CMO Series 2024-51 Class SA | CMO Series 2024-51 Class SA | CMO Series 2024-51 Class SA |
| -1.0 x 30-day Average SOFR + <br> 6.000% <br>Cap 6.000% <br>03/20/2054<br>| &nbsp;&nbsp; 1.650% | 26346424 | &nbsp;&nbsp; 2605767 |
| CMO Series 2024-59 Class JS | CMO Series 2024-59 Class JS | CMO Series 2024-59 Class JS | CMO Series 2024-59 Class JS |
| 30-day Average SOFR + <br> 7.150% <br>Cap 7.150% <br>04/20/2054<br>| &nbsp;&nbsp; 2.800% | 40665001 | &nbsp;&nbsp; 5809955 |
| CMO Series 2024-59 Class SW | CMO Series 2024-59 Class SW | CMO Series 2024-59 Class SW | CMO Series 2024-59 Class SW |
| -1.0 x 30-day Average SOFR + <br> 5.450% <br>Cap 5.450% <br>04/20/2054<br>| &nbsp;&nbsp; 1.100% | 25282919 | &nbsp;&nbsp; 1616461 |
| CMO Series 2024-64 Class KS | CMO Series 2024-64 Class KS | CMO Series 2024-64 Class KS | CMO Series 2024-64 Class KS |
| -1.0 x 30-day Average SOFR + <br> 5.450% <br>Cap 5.450% <br>04/20/2054<br>| &nbsp;&nbsp; 1.100% | 55445364 | &nbsp;&nbsp; 4778919 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** | **Residential Mortgage-Backed Securities - Agency**<sup>(o)</sup> **45.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CMO Series 2024-92 Class DS | CMO Series 2024-92 Class DS | CMO Series 2024-92 Class DS | CMO Series 2024-92 Class DS |
| -1.0 x 30-day Average SOFR + <br> 5.950% <br>Cap 5.950% <br>05/20/2054<br>| &nbsp;&nbsp; 1.600% | 18635934 | &nbsp;&nbsp; 1707542 |
| Government National Mortgage Association TBA<sup>(e)</sup>  | Government National Mortgage Association TBA<sup>(e)</sup>  | Government National Mortgage Association TBA<sup>(e)</sup>  | Government National Mortgage Association TBA<sup>(e)</sup>  |
| 05/20/2055 | &nbsp;&nbsp; 4.000% | 36000000 | &nbsp;&nbsp; 33503220 |
| 05/20/2055 | &nbsp;&nbsp; 4.500% | 50000000 | &nbsp;&nbsp; 47855416 |
| 05/20/2055 | &nbsp;&nbsp; 5.000% | 25000000 | &nbsp;&nbsp; 24521205 |
| Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(e)</sup>  |
| 05/15/2040 | &nbsp;&nbsp; 3.000% | 32000000 | &nbsp;&nbsp; 30378738 |
| 05/13/2055 | &nbsp;&nbsp; 3.500% | 104000000 | &nbsp;&nbsp; 93848318 |
| 05/13/2055 | &nbsp;&nbsp; 4.000% | 50000000 | &nbsp;&nbsp; 46592197 |
| 05/13/2055 | &nbsp;&nbsp; 4.500% | 50000000 | &nbsp;&nbsp; 47812515 |
| 05/13/2055 | &nbsp;&nbsp; 5.000% | 15000000 | &nbsp;&nbsp; 14682243 |
| 05/13/2055 | &nbsp;&nbsp; 5.500% | 74500000 | &nbsp;&nbsp; 74339171 |
| 05/13/2055 | &nbsp;&nbsp; 6.000% | 31000000 | &nbsp;&nbsp; 31446747 |
| Total Residential Mortgage-Backed Securities - Agency <br>(Cost $1,251,476,665) | Total Residential Mortgage-Backed Securities - Agency <br>(Cost $1,251,476,665) | Total Residential Mortgage-Backed Securities - Agency <br>(Cost $1,251,476,665) | &nbsp;&nbsp; **1244547207** |
| **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** |
| Angel Oak Mortgage Trust I LLC<sup>(a),(f)</sup>  | Angel Oak Mortgage Trust I LLC<sup>(a),(f)</sup>  | Angel Oak Mortgage Trust I LLC<sup>(a),(f)</sup>  | Angel Oak Mortgage Trust I LLC<sup>(a),(f)</sup>  |
| CMO Series 2018-3 Class M1 | CMO Series 2018-3 Class M1 | CMO Series 2018-3 Class M1 | CMO Series 2018-3 Class M1 |
| 09/25/2048 | &nbsp;&nbsp; 4.421% | 400829 | &nbsp;&nbsp; 399424 |
| CAFL Issuer LLC<sup>(a),(i)</sup>  | CAFL Issuer LLC<sup>(a),(i)</sup>  | CAFL Issuer LLC<sup>(a),(i)</sup>  | CAFL Issuer LLC<sup>(a),(i)</sup>  |
| CMO Series 2021-RTL1 Class A1 | CMO Series 2021-RTL1 Class A1 | CMO Series 2021-RTL1 Class A1 | CMO Series 2021-RTL1 Class A1 |
| 03/28/2029 | &nbsp;&nbsp; 2.239% | 2034243 | &nbsp;&nbsp; 2029259 |
| CHNGE Mortgage Trust<sup>(a),(f)</sup>  | CHNGE Mortgage Trust<sup>(a),(f)</sup>  | CHNGE Mortgage Trust<sup>(a),(f)</sup>  | CHNGE Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2022-1 Class M1 | CMO Series 2022-1 Class M1 | CMO Series 2022-1 Class M1 | CMO Series 2022-1 Class M1 |
| 01/25/2067 | &nbsp;&nbsp; 3.990% | 4000000 | &nbsp;&nbsp; 3386665 |
| CMO Series 2022-3 Class A1 | CMO Series 2022-3 Class A1 | CMO Series 2022-3 Class A1 | CMO Series 2022-3 Class A1 |
| 05/25/2067 | &nbsp;&nbsp; 5.000% | 9434712 | &nbsp;&nbsp; 9489180 |
| CMO Series 2022-5 Class A1 | CMO Series 2022-5 Class A1 | CMO Series 2022-5 Class A1 | CMO Series 2022-5 Class A1 |
| 01/25/2058 | &nbsp;&nbsp; 6.000% | 4862968 | &nbsp;&nbsp; 4884740 |
| CHNGE Mortgage Trust<sup>(a),(i)</sup>  | CHNGE Mortgage Trust<sup>(a),(i)</sup>  | CHNGE Mortgage Trust<sup>(a),(i)</sup>  | CHNGE Mortgage Trust<sup>(a),(i)</sup>  |
| CMO Series 2023-3 Class A1 | CMO Series 2023-3 Class A1 | CMO Series 2023-3 Class A1 | CMO Series 2023-3 Class A1 |
| 07/25/2058 | &nbsp;&nbsp; 7.100% | 8347254 | &nbsp;&nbsp; 8432870 |
| CIM Trust<sup>(a),(i)</sup>  | CIM Trust<sup>(a),(i)</sup>  | CIM Trust<sup>(a),(i)</sup>  | CIM Trust<sup>(a),(i)</sup>  |
| CMO Series 2025-NR1 Class A1 | CMO Series 2025-NR1 Class A1 | CMO Series 2025-NR1 Class A1 | CMO Series 2025-NR1 Class A1 |
| 06/25/2064 | &nbsp;&nbsp; 5.000% | 6156577 | &nbsp;&nbsp; 5947341 |
| Citigroup Mortgage Loan Trust, Inc.<sup>(a)</sup>  | Citigroup Mortgage Loan Trust, Inc.<sup>(a)</sup>  | Citigroup Mortgage Loan Trust, Inc.<sup>(a)</sup>  | Citigroup Mortgage Loan Trust, Inc.<sup>(a)</sup>  |
| Subordinated CMO Series 2014-C Class B1 | Subordinated CMO Series 2014-C Class B1 | Subordinated CMO Series 2014-C Class B1 | Subordinated CMO Series 2014-C Class B1 |
| 02/25/2054 | &nbsp;&nbsp; 4.250% | 915239 | &nbsp;&nbsp; 908258 |
| 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 2021-3 Class A1 | CMO Series 2021-3 Class A1 | CMO Series 2021-3 Class A1 | CMO Series 2021-3 Class A1 |
| 09/27/2066 | &nbsp;&nbsp; 0.956% | 5800420 | &nbsp;&nbsp; 4872477 |
| CMO Series 2021-5 Class A3 | CMO Series 2021-5 Class A3 | CMO Series 2021-5 Class A3 | CMO Series 2021-5 Class A3 |
| 11/26/2066 | &nbsp;&nbsp; 2.807% | 6400000 | &nbsp;&nbsp; 4763514 |
| CMO Series 2021-6 Class A3 | CMO Series 2021-6 Class A3 | CMO Series 2021-6 Class A3 | CMO Series 2021-6 Class A3 |
| 12/25/2066 | &nbsp;&nbsp; 3.006% | 8426000 | &nbsp;&nbsp; 6477830 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| COLT Mortgage Loan Trust<sup>(a),(i)</sup>  | COLT Mortgage Loan Trust<sup>(a),(i)</sup>  | COLT Mortgage Loan Trust<sup>(a),(i)</sup>  | COLT Mortgage Loan Trust<sup>(a),(i)</sup>  |
| 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% | 7063728 | &nbsp;&nbsp; 7068122 |
| Connecticut Avenue Securities Trust<sup>(a),(c)</sup>  | Connecticut Avenue Securities Trust<sup>(a),(c)</sup>  | Connecticut Avenue Securities Trust<sup>(a),(c)</sup>  | Connecticut Avenue Securities Trust<sup>(a),(c)</sup>  |
| CMO Series 2019-HRP1 Class M2 | CMO Series 2019-HRP1 Class M2 | CMO Series 2019-HRP1 Class M2 | CMO Series 2019-HRP1 Class M2 |
| 30-day Average SOFR + <br> 2.264% <br>11/25/2039<br>| &nbsp;&nbsp; 6.618% | 485066 | &nbsp;&nbsp; 485110 |
| Credit Suisse Mortgage Trust<sup>(a),(f)</sup>  | Credit Suisse Mortgage Trust<sup>(a),(f)</sup>  | Credit Suisse Mortgage Trust<sup>(a),(f)</sup>  | Credit Suisse Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2021-NQM1 Class A3 | CMO Series 2021-NQM1 Class A3 | CMO Series 2021-NQM1 Class A3 | CMO Series 2021-NQM1 Class A3 |
| 05/25/2065 | &nbsp;&nbsp; 1.199% | 1147457 | &nbsp;&nbsp; 1051339 |
| Cross Mortgage Trust<sup>(a),(f)</sup>  | Cross Mortgage Trust<sup>(a),(f)</sup>  | Cross Mortgage Trust<sup>(a),(f)</sup>  | Cross Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2024-H7 Class A1 | CMO Series 2024-H7 Class A1 | CMO Series 2024-H7 Class A1 | CMO Series 2024-H7 Class A1 |
| 11/25/2069 | &nbsp;&nbsp; 5.585% | 9401052 | &nbsp;&nbsp; 9412569 |
| Deephaven Residential Mortgage Trust<sup>(a),(f)</sup>  | Deephaven Residential Mortgage Trust<sup>(a),(f)</sup>  | Deephaven Residential Mortgage Trust<sup>(a),(f)</sup>  | Deephaven Residential Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2020-2 Class M1 | CMO Series 2020-2 Class M1 | CMO Series 2020-2 Class M1 | CMO Series 2020-2 Class M1 |
| 05/25/2065 | &nbsp;&nbsp; 4.112% | 7190000 | &nbsp;&nbsp; 7083781 |
| CMO Series 2021-4 Class A1 | CMO Series 2021-4 Class A1 | CMO Series 2021-4 Class A1 | CMO Series 2021-4 Class A1 |
| 11/25/2066 | &nbsp;&nbsp; 1.931% | 5331150 | &nbsp;&nbsp; 4665203 |
| CMO Series 2021-4 Class A3 | CMO Series 2021-4 Class A3 | CMO Series 2021-4 Class A3 | CMO Series 2021-4 Class A3 |
| 11/25/2066 | &nbsp;&nbsp; 2.239% | 5531068 | &nbsp;&nbsp; 4846239 |
| Ellington Financial Mortgage Trust<sup>(a),(f)</sup>  | Ellington Financial Mortgage Trust<sup>(a),(f)</sup>  | Ellington Financial Mortgage Trust<sup>(a),(f)</sup>  | Ellington Financial Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2019-2 Class M1 | CMO Series 2019-2 Class M1 | CMO Series 2019-2 Class M1 | CMO Series 2019-2 Class M1 |
| 11/25/2059 | &nbsp;&nbsp; 3.469% | 2500000 | &nbsp;&nbsp; 2224785 |
| FIGRE Trust<sup>(a),(f)</sup>  | FIGRE Trust<sup>(a),(f)</sup>  | FIGRE Trust<sup>(a),(f)</sup>  | FIGRE Trust<sup>(a),(f)</sup>  |
| CMO Series 2023-HE3 Class B | CMO Series 2023-HE3 Class B | CMO Series 2023-HE3 Class B | CMO Series 2023-HE3 Class B |
| 01/25/2042 | &nbsp;&nbsp; 6.971% | 2862883 | &nbsp;&nbsp; 2948795 |
| FMC GMSR Issuer Trust<sup>(a),(f)</sup>  | FMC GMSR Issuer Trust<sup>(a),(f)</sup>  | FMC GMSR Issuer Trust<sup>(a),(f)</sup>  | FMC GMSR Issuer Trust<sup>(a),(f)</sup>  |
| CMO Series 2020-GT1 Class A | CMO Series 2020-GT1 Class A | CMO Series 2020-GT1 Class A | CMO Series 2020-GT1 Class A |
| 01/25/2026 | &nbsp;&nbsp; 4.450% | 10500000 | &nbsp;&nbsp; 10213454 |
| Freddie Mac STACR<sup>(c)</sup>  | Freddie Mac STACR<sup>(c)</sup>  | Freddie Mac STACR<sup>(c)</sup>  | Freddie Mac STACR<sup>(c)</sup>  |
| CMO Series 2020-CS02 Class M4 | CMO Series 2020-CS02 Class M4 | CMO Series 2020-CS02 Class M4 | CMO Series 2020-CS02 Class M4 |
| 30-day Average SOFR + <br> 0.114% <br>06/25/2033<br>| &nbsp;&nbsp; 4.454% | 160061 | &nbsp;&nbsp; 159682 |
| Freddie Mac STACR REMIC Trust<sup>(a),(c)</sup>  | Freddie Mac STACR REMIC Trust<sup>(a),(c)</sup>  | Freddie Mac STACR REMIC Trust<sup>(a),(c)</sup>  | Freddie Mac STACR REMIC Trust<sup>(a),(c)</sup>  |
| CMO Series 2021-DNA5 Class M2 | CMO Series 2021-DNA5 Class M2 | CMO Series 2021-DNA5 Class M2 | CMO Series 2021-DNA5 Class M2 |
| 30-day Average SOFR + <br> 1.650% <br>01/25/2034<br>| &nbsp;&nbsp; 6.004% | 1710167 | &nbsp;&nbsp; 1712661 |
| CMO Series 2022-HQA1 Class M2 | CMO Series 2022-HQA1 Class M2 | CMO Series 2022-HQA1 Class M2 | CMO Series 2022-HQA1 Class M2 |
| 30-day Average SOFR + <br> 5.250% <br>03/25/2042<br>| &nbsp;&nbsp; 9.604% | 5132000 | &nbsp;&nbsp; 5438299 |
| Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(a),(c)</sup>  | Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(a),(c)</sup>  | Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(a),(c)</sup>  | Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(a),(c)</sup>  |
| Subordinated CMO Series 2019-CS03 Class B2 | Subordinated CMO Series 2019-CS03 Class B2 | Subordinated CMO Series 2019-CS03 Class B2 | Subordinated CMO Series 2019-CS03 Class B2 |
| 30-day Average SOFR + <br> 0.114% <br>10/25/2032<br>| &nbsp;&nbsp; 4.454% | 9613737 | &nbsp;&nbsp; 8763945 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(p)</sup>  | Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(p)</sup>  | Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(p)</sup>  | Freddie Mac STACR Single Seller Risk Transfer Debt Notes<sup>(p)</sup>  |
| Subordinated CMO Series 2019-CS03 Class IO | Subordinated CMO Series 2019-CS03 Class IO | Subordinated CMO Series 2019-CS03 Class IO | Subordinated CMO Series 2019-CS03 Class IO |
| 10/25/2029 | &nbsp;&nbsp; 0.270% | 823559470 | &nbsp;&nbsp; 6626359 |
| Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(c)</sup>  | Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(c)</sup>  | Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(c)</sup>  | Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(c)</sup>  |
| CMO Series 2020-CS01 Class B1 | CMO Series 2020-CS01 Class B1 | CMO Series 2020-CS01 Class B1 | CMO Series 2020-CS01 Class B1 |
| 30-day Average SOFR + <br> 0.114% <br>04/25/2033<br>| &nbsp;&nbsp; 4.454% | 12262565 | &nbsp;&nbsp; 11971476 |
| CMO Series 2020-CS01 Class B2 | CMO Series 2020-CS01 Class B2 | CMO Series 2020-CS01 Class B2 | CMO Series 2020-CS01 Class B2 |
| 30-day Average SOFR + <br> 0.114% <br>04/25/2033<br>| &nbsp;&nbsp; 4.454% | 15000000 | &nbsp;&nbsp; 11853078 |
| Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(p)</sup>  | Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(p)</sup>  | Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(p)</sup>  | Freddie Mac Structured Agency Credit Risk Debt Notes<sup>(a),(p)</sup>  |
| CMO Series 2020-CS01 Class IO1 | CMO Series 2020-CS01 Class IO1 | CMO Series 2020-CS01 Class IO1 | CMO Series 2020-CS01 Class IO1 |
| 04/25/2030 | &nbsp;&nbsp; 0.080% | 1784385581 | &nbsp;&nbsp; 4515923 |
| CMO Series 2020-CS01 Class IO2 | CMO Series 2020-CS01 Class IO2 | CMO Series 2020-CS01 Class IO2 | CMO Series 2020-CS01 Class IO2 |
| 04/25/2030 | &nbsp;&nbsp; 0.125% | 1784385584 | &nbsp;&nbsp; 7055996 |
| GCAT Trust<sup>(a),(f)</sup>  | GCAT Trust<sup>(a),(f)</sup>  | GCAT Trust<sup>(a),(f)</sup>  | GCAT Trust<sup>(a),(f)</sup>  |
| CMO Series 2021-CM1 Class A1 | CMO Series 2021-CM1 Class A1 | CMO Series 2021-CM1 Class A1 | CMO Series 2021-CM1 Class A1 |
| 04/25/2065 | &nbsp;&nbsp; 2.469% | 4419075 | &nbsp;&nbsp; 4209909 |
| CMO Series 2021-NQM6 Class A2 | CMO Series 2021-NQM6 Class A2 | CMO Series 2021-NQM6 Class A2 | CMO Series 2021-NQM6 Class A2 |
| 08/25/2066 | &nbsp;&nbsp; 2.710% | 4100000 | &nbsp;&nbsp; 3265353 |
| CMO Series 2021-NQM6 Class A3 | CMO Series 2021-NQM6 Class A3 | CMO Series 2021-NQM6 Class A3 | CMO Series 2021-NQM6 Class A3 |
| 08/25/2066 | &nbsp;&nbsp; 2.810% | 7500000 | &nbsp;&nbsp; 5617228 |
| CMO Series 2021-NQM7 Class A3 | CMO Series 2021-NQM7 Class A3 | CMO Series 2021-NQM7 Class A3 | CMO Series 2021-NQM7 Class A3 |
| 08/25/2066 | &nbsp;&nbsp; 2.891% | 10000000 | &nbsp;&nbsp; 7721275 |
| Genworth Mortgage Insurance Corp.<sup>(a),(c)</sup>  | Genworth Mortgage Insurance Corp.<sup>(a),(c)</sup>  | Genworth Mortgage Insurance Corp.<sup>(a),(c)</sup>  | Genworth Mortgage Insurance Corp.<sup>(a),(c)</sup>  |
| CMO Series 2021-3 Class M1B | CMO Series 2021-3 Class M1B | CMO Series 2021-3 Class M1B | CMO Series 2021-3 Class M1B |
| 30-day Average SOFR + <br> 2.900% <br>Floor 2.900% <br>02/25/2034<br>| &nbsp;&nbsp; 7.254% | 7731870 | &nbsp;&nbsp; 7772549 |
| GITSIT Mortgage Loan Trust<sup>(a),(i)</sup>  | GITSIT Mortgage Loan Trust<sup>(a),(i)</sup>  | GITSIT Mortgage Loan Trust<sup>(a),(i)</sup>  | GITSIT Mortgage Loan Trust<sup>(a),(i)</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; 6.203% | 7854834 | &nbsp;&nbsp; 7853151 |
| HTAP Issuer Trust<sup>(a)</sup>  | HTAP Issuer Trust<sup>(a)</sup>  | HTAP Issuer Trust<sup>(a)</sup>  | HTAP Issuer Trust<sup>(a)</sup>  |
| CMO Series 2024-2 Class A | CMO Series 2024-2 Class A | CMO Series 2024-2 Class A | CMO Series 2024-2 Class A |
| 04/25/2042 | &nbsp;&nbsp; 6.500% | 13083809 | &nbsp;&nbsp; 12854404 |
| CMO Series 2025-1 Class A | CMO Series 2025-1 Class A | CMO Series 2025-1 Class A | CMO Series 2025-1 Class A |
| 11/25/2042 | &nbsp;&nbsp; 6.500% | 2678259 | &nbsp;&nbsp; 2652041 |
| Imperial Fund Mortgage Trust<sup>(a),(f)</sup>  | Imperial Fund Mortgage Trust<sup>(a),(f)</sup>  | Imperial Fund Mortgage Trust<sup>(a),(f)</sup>  | Imperial Fund Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2021-NQM4 Class A2 | CMO Series 2021-NQM4 Class A2 | CMO Series 2021-NQM4 Class A2 | CMO Series 2021-NQM4 Class A2 |
| 01/25/2057 | &nbsp;&nbsp; 2.296% | 2959220 | &nbsp;&nbsp; 2579222 |
| Legacy Mortgage Asset Trust<sup>(a),(i)</sup>  | Legacy Mortgage Asset Trust<sup>(a),(i)</sup>  | Legacy Mortgage Asset Trust<sup>(a),(i)</sup>  | Legacy Mortgage Asset Trust<sup>(a),(i)</sup>  |
| CMO Series 2021-GS1 Class A1 | CMO Series 2021-GS1 Class A1 | CMO Series 2021-GS1 Class A1 | CMO Series 2021-GS1 Class A1 |
| 10/25/2066 | &nbsp;&nbsp; 5.892% | 4633759 | &nbsp;&nbsp; 4655269 |
| CMO Series 2021-GS2 Class A1 | CMO Series 2021-GS2 Class A1 | CMO Series 2021-GS2 Class A1 | CMO Series 2021-GS2 Class A1 |
| 04/25/2061 | &nbsp;&nbsp; 1.750% | 3480972 | &nbsp;&nbsp; 3479748 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| MFA Trust<sup>(a),(f)</sup>  | MFA Trust<sup>(a),(f)</sup>  | MFA Trust<sup>(a),(f)</sup>  | MFA Trust<sup>(a),(f)</sup>  |
| CMO Series 2020-NQM1 Class M1 | CMO Series 2020-NQM1 Class M1 | CMO Series 2020-NQM1 Class M1 | CMO Series 2020-NQM1 Class M1 |
| 08/25/2049 | &nbsp;&nbsp; 3.071% | 2800000 | &nbsp;&nbsp; 2560824 |
| CMO Series 2020-NQM2 Class M1 | CMO Series 2020-NQM2 Class M1 | CMO Series 2020-NQM2 Class M1 | CMO Series 2020-NQM2 Class M1 |
| 04/25/2065 | &nbsp;&nbsp; 3.034% | 12854000 | &nbsp;&nbsp; 12136302 |
| MFA Trust<sup>(i)</sup>  | MFA Trust<sup>(i)</sup>  | MFA Trust<sup>(i)</sup>  | MFA Trust<sup>(i)</sup>  |
| CMO Series 2024-NPL1 Class A1 | CMO Series 2024-NPL1 Class A1 | CMO Series 2024-NPL1 Class A1 | CMO Series 2024-NPL1 Class A1 |
| 09/25/2054 | &nbsp;&nbsp; 6.330% | 14142958 | &nbsp;&nbsp; 14242683 |
| Mill City Mortgage Loan Trust<sup>(a),(i)</sup>  | Mill City Mortgage Loan Trust<sup>(a),(i)</sup>  | Mill City Mortgage Loan Trust<sup>(a),(i)</sup>  | Mill City Mortgage Loan Trust<sup>(a),(i)</sup>  |
| CMO Series 2023-NQM1 Class A1 | CMO Series 2023-NQM1 Class A1 | CMO Series 2023-NQM1 Class A1 | CMO Series 2023-NQM1 Class A1 |
| 10/25/2067 | &nbsp;&nbsp; 6.050% | 3746351 | &nbsp;&nbsp; 3746338 |
| New Residential Mortgage Loan Trust<sup>(a),(f)</sup>  | New Residential Mortgage Loan Trust<sup>(a),(f)</sup>  | New Residential Mortgage Loan Trust<sup>(a),(f)</sup>  | New Residential Mortgage Loan Trust<sup>(a),(f)</sup>  |
| Subordinated CMO Series 2020-RPL1 Class B4 | Subordinated CMO Series 2020-RPL1 Class B4 | Subordinated CMO Series 2020-RPL1 Class B4 | Subordinated CMO Series 2020-RPL1 Class B4 |
| 11/25/2059 | &nbsp;&nbsp; 3.848% | 10000000 | &nbsp;&nbsp; 6551705 |
| NRZ Excess Spread-Collateralized Notes<sup>(a)</sup>  | NRZ Excess Spread-Collateralized Notes<sup>(a)</sup>  | NRZ Excess Spread-Collateralized Notes<sup>(a)</sup>  | NRZ Excess Spread-Collateralized Notes<sup>(a)</sup>  |
| Series 2020-PLS1 Class A | Series 2020-PLS1 Class A | Series 2020-PLS1 Class A | Series 2020-PLS1 Class A |
| 12/25/2025 | &nbsp;&nbsp; 3.844% | 1459045 | &nbsp;&nbsp; 1442233 |
| OBX Trust<sup>(a),(i)</sup>  | OBX Trust<sup>(a),(i)</sup>  | OBX Trust<sup>(a),(i)</sup>  | OBX Trust<sup>(a),(i)</sup>  |
| CMO Series 2024-NQM16 Class A1 | CMO Series 2024-NQM16 Class A1 | CMO Series 2024-NQM16 Class A1 | CMO Series 2024-NQM16 Class A1 |
| 10/25/2064 | &nbsp;&nbsp; 5.530% | 5844769 | &nbsp;&nbsp; 5853097 |
| Point Securitization Trust<sup>(a),(f)</sup>  | Point Securitization Trust<sup>(a),(f)</sup>  | Point Securitization Trust<sup>(a),(f)</sup>  | Point Securitization Trust<sup>(a),(f)</sup>  |
| CMO Series 2021-1 Class A1 | CMO Series 2021-1 Class A1 | CMO Series 2021-1 Class A1 | CMO Series 2021-1 Class A1 |
| 02/25/2052 | &nbsp;&nbsp; 3.228% | 6342341 | &nbsp;&nbsp; 6270676 |
| PRET LLC<sup>(a),(i)</sup>  | PRET LLC<sup>(a),(i)</sup>  | PRET LLC<sup>(a),(i)</sup>  | PRET LLC<sup>(a),(i)</sup>  |
| CMO Series 2024-NPL4 Class A1 | CMO Series 2024-NPL4 Class A1 | CMO Series 2024-NPL4 Class A1 | CMO Series 2024-NPL4 Class A1 |
| 07/25/2054 | &nbsp;&nbsp; 6.996% | 5101053 | &nbsp;&nbsp; 5143686 |
| CMO Series 2024-NPL5 Class A1 | CMO Series 2024-NPL5 Class A1 | CMO Series 2024-NPL5 Class A1 | CMO Series 2024-NPL5 Class A1 |
| 09/25/2054 | &nbsp;&nbsp; 5.963% | 11568590 | &nbsp;&nbsp; 11583389 |
| CMO Series 2024-NPL6 Class A1 | CMO Series 2024-NPL6 Class A1 | CMO Series 2024-NPL6 Class A1 | CMO Series 2024-NPL6 Class A1 |
| 10/25/2054 | &nbsp;&nbsp; 5.926% | 12733304 | &nbsp;&nbsp; 12865774 |
| CMO Series 2024-NPL6 Class A2 | CMO Series 2024-NPL6 Class A2 | CMO Series 2024-NPL6 Class A2 | CMO Series 2024-NPL6 Class A2 |
| 10/25/2054 | &nbsp;&nbsp; 8.716% | 7500000 | &nbsp;&nbsp; 7571553 |
| 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% | 9355588 | &nbsp;&nbsp; 9461802 |
| CMO Series 2024-NPL8 Class A1 | CMO Series 2024-NPL8 Class A1 | CMO Series 2024-NPL8 Class A1 | CMO Series 2024-NPL8 Class A1 |
| 11/25/2054 | &nbsp;&nbsp; 5.963% | 7400262 | &nbsp;&nbsp; 7384320 |
| CMO Series 2024-RN1 Class A1 | CMO Series 2024-RN1 Class A1 | CMO Series 2024-RN1 Class A1 | CMO Series 2024-RN1 Class A1 |
| 03/25/2054 | &nbsp;&nbsp; 7.143% | 10276492 | &nbsp;&nbsp; 10403327 |
| PRET LLC<sup>(a),(e),(i)</sup>  | PRET LLC<sup>(a),(e),(i)</sup>  | PRET LLC<sup>(a),(e),(i)</sup>  | PRET LLC<sup>(a),(e),(i)</sup>  |
| 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; 6.493% | 9000000 | &nbsp;&nbsp; 8999998 |
| Pretium Mortgage Credit Partners LLC<sup>(a),(i)</sup>  | Pretium Mortgage Credit Partners LLC<sup>(a),(i)</sup>  | Pretium Mortgage Credit Partners LLC<sup>(a),(i)</sup>  | Pretium Mortgage Credit Partners LLC<sup>(a),(i)</sup>  |
| CMO Series 2021-RN2 Class A1 | CMO Series 2021-RN2 Class A1 | CMO Series 2021-RN2 Class A1 | CMO Series 2021-RN2 Class A1 |
| 07/25/2051 | &nbsp;&nbsp; 4.744% | 2945229 | &nbsp;&nbsp; 2930138 |
| PRPM LLC<sup>(a),(i)</sup>  | PRPM LLC<sup>(a),(i)</sup>  | PRPM LLC<sup>(a),(i)</sup>  | PRPM LLC<sup>(a),(i)</sup>  |
| CMO Series 2024-5 Class A1 | CMO Series 2024-5 Class A1 | CMO Series 2024-5 Class A1 | CMO Series 2024-5 Class A1 |
| 09/25/2029 | &nbsp;&nbsp; 5.689% | 6323646 | &nbsp;&nbsp; 6344531 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| 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% | 6107684 | &nbsp;&nbsp; 6168079 |
| PRPM LLC<sup>(a),(i),(m)</sup>  | PRPM LLC<sup>(a),(i),(m)</sup>  | PRPM LLC<sup>(a),(i),(m)</sup>  | PRPM LLC<sup>(a),(i),(m)</sup>  |
| CMO Series 2025-2 Class A1 | CMO Series 2025-2 Class A1 | CMO Series 2025-2 Class A1 | CMO Series 2025-2 Class A1 |
| 05/25/2030 | &nbsp;&nbsp; 6.469% | 9500000 | &nbsp;&nbsp; 9522148 |
| Radnor Re Ltd.<sup>(a),(c)</sup>  | Radnor Re Ltd.<sup>(a),(c)</sup>  | Radnor Re Ltd.<sup>(a),(c)</sup>  | Radnor Re Ltd.<sup>(a),(c)</sup>  |
| CMO Series 2024-1 Class M1A | CMO Series 2024-1 Class M1A | CMO Series 2024-1 Class M1A | CMO Series 2024-1 Class M1A |
| 30-day Average SOFR + <br> 2.000% <br>Floor 2.000% <br>09/25/2034<br>| &nbsp;&nbsp; 6.354% | 3104686 | &nbsp;&nbsp; 3107289 |
| RCO Mortgage LLC<sup>(a),(i)</sup>  | RCO Mortgage LLC<sup>(a),(i)</sup>  | RCO Mortgage LLC<sup>(a),(i)</sup>  | RCO Mortgage LLC<sup>(a),(i)</sup>  |
| CMO Series 2024-1 Class A1 | CMO Series 2024-1 Class A1 | CMO Series 2024-1 Class A1 | CMO Series 2024-1 Class A1 |
| 01/25/2029 | &nbsp;&nbsp; 7.021% | 6242835 | &nbsp;&nbsp; 6273538 |
| RCO X Mortgage LLC<sup>(a),(i)</sup>  | RCO X Mortgage LLC<sup>(a),(i)</sup>  | RCO X Mortgage LLC<sup>(a),(i)</sup>  | RCO X Mortgage LLC<sup>(a),(i)</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% | 9511063 | &nbsp;&nbsp; 9510968 |
| Saluda Grade Alternative Mortgage Trust<sup>(a),(f)</sup>  | Saluda Grade Alternative Mortgage Trust<sup>(a),(f)</sup>  | Saluda Grade Alternative Mortgage Trust<sup>(a),(f)</sup>  | Saluda Grade Alternative Mortgage Trust<sup>(a),(f)</sup>  |
| Subordinated CMO Series 2023-FIG4 Class CE | Subordinated CMO Series 2023-FIG4 Class CE | Subordinated CMO Series 2023-FIG4 Class CE | Subordinated CMO Series 2023-FIG4 Class CE |
| 11/25/2053 | &nbsp;&nbsp; 49.381% | 4780619 | &nbsp;&nbsp; 8243963 |
| SG Residential Mortgage Trust<sup>(a),(f)</sup>  | SG Residential Mortgage Trust<sup>(a),(f)</sup>  | SG Residential Mortgage Trust<sup>(a),(f)</sup>  | SG Residential Mortgage Trust<sup>(a),(f)</sup>  |
| CMO Series 2019-3 Class M1 | CMO Series 2019-3 Class M1 | CMO Series 2019-3 Class M1 | CMO Series 2019-3 Class M1 |
| 09/25/2059 | &nbsp;&nbsp; 3.526% | 3801000 | &nbsp;&nbsp; 3730584 |
| Stanwich Mortgage Loan Co. LLC<sup>(a),(i)</sup>  | Stanwich Mortgage Loan Co. LLC<sup>(a),(i)</sup>  | Stanwich Mortgage Loan Co. LLC<sup>(a),(i)</sup>  | Stanwich Mortgage Loan Co. LLC<sup>(a),(i)</sup>  |
| CMO Series 2021-NPB1 Class A1 | CMO Series 2021-NPB1 Class A1 | CMO Series 2021-NPB1 Class A1 | CMO Series 2021-NPB1 Class A1 |
| 10/16/2026 | &nbsp;&nbsp; 6.235% | 231443 | &nbsp;&nbsp; 231249 |
| Starwood Mortgage Residential Trust<sup>(a),(f)</sup>  | Starwood Mortgage Residential Trust<sup>(a),(f)</sup>  | Starwood Mortgage Residential Trust<sup>(a),(f)</sup>  | Starwood Mortgage Residential Trust<sup>(a),(f)</sup>  |
| CMO Series 2020-3 Class M1 | CMO Series 2020-3 Class M1 | CMO Series 2020-3 Class M1 | CMO Series 2020-3 Class M1 |
| 04/25/2065 | &nbsp;&nbsp; 3.544% | 6500000 | &nbsp;&nbsp; 5783098 |
| CMO Series 2021-3 Class A1 | CMO Series 2021-3 Class A1 | CMO Series 2021-3 Class A1 | CMO Series 2021-3 Class A1 |
| 06/25/2056 | &nbsp;&nbsp; 1.127% | 1671805 | &nbsp;&nbsp; 1411631 |
| CMO Series 2021-6 Class A3 | CMO Series 2021-6 Class A3 | CMO Series 2021-6 Class A3 | CMO Series 2021-6 Class A3 |
| 11/25/2066 | &nbsp;&nbsp; 2.933% | 13954000 | &nbsp;&nbsp; 9565553 |
| CMO Series 2022-2 Class A1 | CMO Series 2022-2 Class A1 | CMO Series 2022-2 Class A1 | CMO Series 2022-2 Class A1 |
| 02/25/2067 | &nbsp;&nbsp; 3.158% | 2288090 | &nbsp;&nbsp; 2160689 |
| Structured Agency Credit Risk<sup>(c)</sup>  | Structured Agency Credit Risk<sup>(c)</sup>  | Structured Agency Credit Risk<sup>(c)</sup>  | Structured Agency Credit Risk<sup>(c)</sup>  |
| Subordinated CMO Series 2020-CS02 Class B1 | Subordinated CMO Series 2020-CS02 Class B1 | Subordinated CMO Series 2020-CS02 Class B1 | Subordinated CMO Series 2020-CS02 Class B1 |
| 30-day Average SOFR + <br> 0.114% <br>06/25/2033<br>| &nbsp;&nbsp; 4.466% | 7610000 | &nbsp;&nbsp; 7328485 |
| Toorak Mortgage Trust<sup>(a),(i)</sup>  | Toorak Mortgage Trust<sup>(a),(i)</sup>  | Toorak Mortgage Trust<sup>(a),(i)</sup>  | Toorak Mortgage Trust<sup>(a),(i)</sup>  |
| CMO Series 2024-RRTL2 Class A1 | CMO Series 2024-RRTL2 Class A1 | CMO Series 2024-RRTL2 Class A1 | CMO Series 2024-RRTL2 Class A1 |
| 09/25/2039 | &nbsp;&nbsp; 5.504% | 10200000 | &nbsp;&nbsp; 10188594 |
| 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 M1 | CMO Series 2025-RRTL1 Class M1 | CMO Series 2025-RRTL1 Class M1 | CMO Series 2025-RRTL1 Class M1 |
| 02/25/2040 | &nbsp;&nbsp; 6.791% | 4800000 | &nbsp;&nbsp; 4820068 |
| Unlock HEA Trust<sup>(a)</sup>  | Unlock HEA Trust<sup>(a)</sup>  | Unlock HEA Trust<sup>(a)</sup>  | Unlock HEA Trust<sup>(a)</sup>  |
| CMO Series 2023-1 Class A | CMO Series 2023-1 Class A | CMO Series 2023-1 Class A | CMO Series 2023-1 Class A |
| 10/25/2038 | &nbsp;&nbsp; 7.000% | 6866376 | &nbsp;&nbsp; 6821225 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** | **Residential Mortgage-Backed Securities - Non-Agency 18.6%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Vericrest Opportunity Loan Transferee CVI LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee CVI LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee CVI LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee CVI LLC<sup>(a),(i)</sup>  |
| CMO Series 2021-NP12 Class A1 | CMO Series 2021-NP12 Class A1 | CMO Series 2021-NP12 Class A1 | CMO Series 2021-NP12 Class A1 |
| 12/26/2051 | &nbsp;&nbsp; 2.734% | 11997078 | &nbsp;&nbsp; 11953672 |
| Vericrest Opportunity Loan Transferee XCIX LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee XCIX LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee XCIX LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee XCIX LLC<sup>(a),(i)</sup>  |
| CMO Series 2021-NPL8 Class A1 | CMO Series 2021-NPL8 Class A1 | CMO Series 2021-NPL8 Class A1 | CMO Series 2021-NPL8 Class A1 |
| 04/25/2051 | &nbsp;&nbsp; 6.116% | 973003 | &nbsp;&nbsp; 972327 |
| Vericrest Opportunity Loan Transferee XCVI LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee XCVI LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee XCVI LLC<sup>(a),(i)</sup>  | Vericrest Opportunity Loan Transferee XCVI LLC<sup>(a),(i)</sup>  |
| CMO Series 2021-NPL5 Class A1 | CMO Series 2021-NPL5 Class A1 | CMO Series 2021-NPL5 Class A1 | CMO Series 2021-NPL5 Class A1 |
| 03/27/2051 | &nbsp;&nbsp; 6.116% | 952688 | &nbsp;&nbsp; 951612 |
| 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>  |
| CMO Series 2020-1 Class M1 | CMO Series 2020-1 Class M1 | CMO Series 2020-1 Class M1 | CMO Series 2020-1 Class M1 |
| 01/25/2060 | &nbsp;&nbsp; 3.021% | 13245000 | &nbsp;&nbsp; 12447234 |
| CMO Series 2020-4 Class M1 | CMO Series 2020-4 Class M1 | CMO Series 2020-4 Class M1 | CMO Series 2020-4 Class M1 |
| 05/25/2065 | &nbsp;&nbsp; 3.291% | 4000000 | &nbsp;&nbsp; 3824418 |
| CMO Series 2021-5 Class A2 | CMO Series 2021-5 Class A2 | CMO Series 2021-5 Class A2 | CMO Series 2021-5 Class A2 |
| 09/25/2066 | &nbsp;&nbsp; 1.218% | 1604426 | &nbsp;&nbsp; 1364965 |
| CMO Series 2021-5 Class A3 | CMO Series 2021-5 Class A3 | CMO Series 2021-5 Class A3 | CMO Series 2021-5 Class A3 |
| 09/25/2066 | &nbsp;&nbsp; 1.373% | 3037834 | &nbsp;&nbsp; 2589804 |
| CMO Series 2021-5 Class M1 | CMO Series 2021-5 Class M1 | CMO Series 2021-5 Class M1 | CMO Series 2021-5 Class M1 |
| 09/25/2066 | &nbsp;&nbsp; 2.331% | 2600000 | &nbsp;&nbsp; 1765703 |
| CMO Series 2021-7 Class A3 | CMO Series 2021-7 Class A3 | CMO Series 2021-7 Class A3 | CMO Series 2021-7 Class A3 |
| 10/25/2066 | &nbsp;&nbsp; 2.240% | 5567594 | &nbsp;&nbsp; 4834926 |
| CMO Series 2021-R1 Class A1 | CMO Series 2021-R1 Class A1 | CMO Series 2021-R1 Class A1 | CMO Series 2021-R1 Class A1 |
| 10/25/2063 | &nbsp;&nbsp; 0.820% | 862369 | &nbsp;&nbsp; 819026 |
| Subordinated CMO Series 2021-8 Class B1 | Subordinated CMO Series 2021-8 Class B1 | Subordinated CMO Series 2021-8 Class B1 | Subordinated CMO Series 2021-8 Class B1 |
| 11/25/2066 | &nbsp;&nbsp; 4.242% | 12412000 | &nbsp;&nbsp; 9715690 |
| Visio Trust<sup>(a),(f)</sup>  | Visio Trust<sup>(a),(f)</sup>  | Visio Trust<sup>(a),(f)</sup>  | Visio Trust<sup>(a),(f)</sup>  |
| CMO Series 2019-2 Class A3 | CMO Series 2019-2 Class A3 | CMO Series 2019-2 Class A3 | CMO Series 2019-2 Class A3 |
| 11/25/2054 | &nbsp;&nbsp; 3.076% | 345803 | &nbsp;&nbsp; 335814 |
| Visio Trust<sup>(a)</sup>  | Visio Trust<sup>(a)</sup>  | Visio Trust<sup>(a)</sup>  | Visio Trust<sup>(a)</sup>  |
| CMO Series 2021-1R Class A1 | CMO Series 2021-1R Class A1 | CMO Series 2021-1R Class A1 | CMO Series 2021-1R Class A1 |
| 05/25/2056 | &nbsp;&nbsp; 1.280% | 4328065 | &nbsp;&nbsp; 4002698 |
| CMO Series 2021-1R Class A2 | CMO Series 2021-1R Class A2 | CMO Series 2021-1R Class A2 | CMO Series 2021-1R Class A2 |
| 05/25/2056 | &nbsp;&nbsp; 1.484% | 1375964 | &nbsp;&nbsp; 1276889 |
| Total Residential Mortgage-Backed Securities - Non-Agency <br>(Cost $532,834,932) | Total Residential Mortgage-Backed Securities - Non-Agency <br>(Cost $532,834,932) | Total Residential Mortgage-Backed Securities - Non-Agency <br>(Cost $532,834,932) | &nbsp;&nbsp; **509562838** |
| **Senior Loans 1.5%** | **Senior Loans 1.5%** | **Senior Loans 1.5%** | **Senior Loans 1.5%** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Aerospace & Defense 0.0%** | **Aerospace & Defense 0.0%** | **Aerospace & Defense 0.0%** | **Aerospace & Defense 0.0%** |
| Goat Holdco LLC<sup>(c),(r)</sup>  | Goat Holdco LLC<sup>(c),(r)</sup>  | Goat Holdco LLC<sup>(c),(r)</sup>  | Goat Holdco LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>01/27/2032<br>| &nbsp;&nbsp; 7.320% | 55802 | &nbsp;&nbsp; 54849 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| TransDigm, Inc.<sup>(c),(r)</sup>  | TransDigm, Inc.<sup>(c),(r)</sup>  | TransDigm, Inc.<sup>(c),(r)</sup>  | TransDigm, Inc.<sup>(c),(r)</sup>  |
| Tranche J Term Loan | Tranche J Term Loan | Tranche J Term Loan | Tranche J Term Loan |
| 3-month Term SOFR + 2.500% <br>02/28/2031<br>| &nbsp;&nbsp; 6.799% | 297750 | &nbsp;&nbsp; 294561 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **349410** |
| **Airlines 0.0%** | **Airlines 0.0%** | **Airlines 0.0%** | **Airlines 0.0%** |
| American Airlines, Inc.<sup>(c),(r)</sup>  | American Airlines, Inc.<sup>(c),(r)</sup>  | American Airlines, Inc.<sup>(c),(r)</sup>  | American Airlines, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 2.250% <br>06/04/2029<br>| &nbsp;&nbsp; 6.507% | 297000 | &nbsp;&nbsp; 288028 |
| **Automotive 0.0%** | **Automotive 0.0%** | **Automotive 0.0%** | **Automotive 0.0%** |
| American Axle & Manufacturing, Inc.<sup>(c),(r)</sup>  | American Axle & Manufacturing, Inc.<sup>(c),(r)</sup>  | American Axle & Manufacturing, Inc.<sup>(c),(r)</sup>  | American Axle & Manufacturing, Inc.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>Floor 0.500% <br>12/13/2029<br>| &nbsp;&nbsp; 7.197% | 300000 | &nbsp;&nbsp; 292689 |
| Clarios Global LP<sup>(c),(r)</sup>  | Clarios Global LP<sup>(c),(r)</sup>  | Clarios Global LP<sup>(c),(r)</sup>  | Clarios Global LP<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.750% <br>01/28/2032<br>| &nbsp;&nbsp; 7.072% | 64873 | &nbsp;&nbsp; 63441 |
| First Brands Group LLC<sup>(c),(r)</sup>  | First Brands Group LLC<sup>(c),(r)</sup>  | First Brands Group LLC<sup>(c),(r)</sup>  | First Brands Group LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan  | 1st Lien Term Loan  | 1st Lien Term Loan  | 1st Lien Term Loan  |
| 3-month Term SOFR + 5.000% <br>Floor 1.000% <br>03/30/2027<br>| &nbsp;&nbsp; 9.541% | 296230 | &nbsp;&nbsp; 274012 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **630142** |
| **Brokerage/Asset Managers/Exchanges 0.1%** | **Brokerage/Asset Managers/Exchanges 0.1%** | **Brokerage/Asset Managers/Exchanges 0.1%** | **Brokerage/Asset Managers/Exchanges 0.1%** |
| Allspring Buyer LLC<sup>(c),(r)</sup>  | Allspring Buyer LLC<sup>(c),(r)</sup>  | Allspring Buyer LLC<sup>(c),(r)</sup>  | Allspring Buyer LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>11/01/2030<br>| &nbsp;&nbsp; 7.313% | 39282 | &nbsp;&nbsp; 39149 |
| Aretec Group, Inc.<sup>(c),(r)</sup>  | Aretec Group, Inc.<sup>(c),(r)</sup>  | Aretec Group, Inc.<sup>(c),(r)</sup>  | Aretec Group, Inc.<sup>(c),(r)</sup>  |
| Tranche B3 1st Lien Term Loan | Tranche B3 1st Lien Term Loan | Tranche B3 1st Lien Term Loan | Tranche B3 1st Lien Term Loan |
| 1-month Term SOFR + 3.500% <br>08/09/2030<br>| &nbsp;&nbsp; 7.822% | 297006 | &nbsp;&nbsp; 295149 |
| Focus Financial Partners LLC<sup>(c),(r)</sup>  | Focus Financial Partners LLC<sup>(c),(r)</sup>  | Focus Financial Partners LLC<sup>(c),(r)</sup>  | Focus Financial Partners LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.750% <br>09/15/2031<br>| &nbsp;&nbsp; 7.072% | 140557 | &nbsp;&nbsp; 138704 |
| HighTower Holding LLC<sup>(c),(r)</sup>  | HighTower Holding LLC<sup>(c),(r)</sup>  | HighTower Holding LLC<sup>(c),(r)</sup>  | HighTower Holding LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.000% <br>02/03/2032<br>| &nbsp;&nbsp; 7.291% | 147349 | &nbsp;&nbsp; 144770 |
| Jane Street Group LLC<sup>(c),(r)</sup>  | Jane Street Group LLC<sup>(c),(r)</sup>  | Jane Street Group LLC<sup>(c),(r)</sup>  | Jane Street Group LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.000% <br>12/15/2031<br>| &nbsp;&nbsp; 6.313% | 134299 | &nbsp;&nbsp; 132349 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Jefferies Finance LLC<sup>(c),(m),(r)</sup>  | Jefferies Finance LLC<sup>(c),(m),(r)</sup>  | Jefferies Finance LLC<sup>(c),(m),(r)</sup>  | Jefferies Finance LLC<sup>(c),(m),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>10/21/2031<br>| &nbsp;&nbsp; 7.323% | 214309 | &nbsp;&nbsp; 214041 |
| June Purchaser LLC<sup>(c),(m),(r),(s)</sup>  | June Purchaser LLC<sup>(c),(m),(r),(s)</sup>  | June Purchaser LLC<sup>(c),(m),(r),(s)</sup>  | June Purchaser LLC<sup>(c),(m),(r),(s)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 3.250% <br>11/28/2031<br>| &nbsp;&nbsp; 1.625% | 19286 | &nbsp;&nbsp; 19268 |
| June Purchaser LLC<sup>(c),(r)</sup>  | June Purchaser LLC<sup>(c),(r)</sup>  | June Purchaser LLC<sup>(c),(r)</sup>  | June Purchaser LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 3.250% <br>11/28/2031<br>| &nbsp;&nbsp; 7.467% | 115714 | &nbsp;&nbsp; 115606 |
| Osaic Holdings, Inc.<sup>(c),(m),(r)</sup>  | Osaic Holdings, Inc.<sup>(c),(m),(r)</sup>  | Osaic Holdings, Inc.<sup>(c),(m),(r)</sup>  | Osaic Holdings, Inc.<sup>(c),(m),(r)</sup>  |
| Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan |
| 1-month Term SOFR + 3.500% <br>08/17/2028<br>| &nbsp;&nbsp; 7.822% | 154646 | &nbsp;&nbsp; 153902 |
| PEX Holdings LLC<sup>(c),(r)</sup>  | PEX Holdings LLC<sup>(c),(r)</sup>  | PEX Holdings LLC<sup>(c),(r)</sup>  | PEX Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 2.750% <br>11/26/2031<br>| &nbsp;&nbsp; 6.967% | 201340 | &nbsp;&nbsp; 200333 |
| Russell Investments US Institutional Holdco, Inc.<sup>(c),(r)</sup>  | Russell Investments US Institutional Holdco, Inc.<sup>(c),(r)</sup>  | Russell Investments US Institutional Holdco, Inc.<sup>(c),(r)</sup>  | Russell Investments US Institutional Holdco, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 6.500% <br>Floor 1.000% <br>05/30/2027<br>| &nbsp;&nbsp; 10.780% | 208956 | &nbsp;&nbsp; 193782 |
| VFH Parent LLC<sup>(c),(r)</sup>  | VFH Parent LLC<sup>(c),(r)</sup>  | VFH Parent LLC<sup>(c),(r)</sup>  | VFH Parent LLC<sup>(c),(r)</sup>  |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 1-month Term SOFR + 2.500% <br>06/21/2031<br>| &nbsp;&nbsp; 6.822% | 96857 | &nbsp;&nbsp; 96373 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1743426** |
| **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** | **Building Materials 0.1%** |
| Cornerstone Building Brands, Inc.<sup>(c),(r)</sup>  | Cornerstone Building Brands, Inc.<sup>(c),(r)</sup>  | Cornerstone Building Brands, Inc.<sup>(c),(r)</sup>  | Cornerstone Building Brands, Inc.<sup>(c),(r)</sup>  |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 1-month Term SOFR + 4.500% <br>Floor 0.500% <br>05/15/2031<br>| &nbsp;&nbsp; 8.822% | 44603 | &nbsp;&nbsp; 36589 |
| Foundation Building Materials, Inc.<sup>(c),(r)</sup>  | Foundation Building Materials, Inc.<sup>(c),(r)</sup>  | Foundation Building Materials, Inc.<sup>(c),(r)</sup>  | Foundation Building Materials, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan  | 1st Lien Term Loan  | 1st Lien Term Loan  | 1st Lien Term Loan  |
| 3-month Term SOFR + 3.250% <br>Floor 0.500% <br>01/31/2028<br>| &nbsp;&nbsp; 7.791% | 296154 | &nbsp;&nbsp; 283665 |
| Gulfside Supply, Inc.<sup>(c),(r)</sup>  | Gulfside Supply, Inc.<sup>(c),(r)</sup>  | Gulfside Supply, Inc.<sup>(c),(r)</sup>  | Gulfside Supply, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>06/17/2031<br>| &nbsp;&nbsp; 7.299% | 140821 | &nbsp;&nbsp; 139387 |
| Johnstone Supply LLC<sup>(c),(r)</sup>  | Johnstone Supply LLC<sup>(c),(r)</sup>  | Johnstone Supply LLC<sup>(c),(r)</sup>  | Johnstone Supply LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>06/09/2031<br>| &nbsp;&nbsp; 6.820% | 199499 | &nbsp;&nbsp; 197566 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Kodiak BP LLC<sup>(c),(r)</sup>  | Kodiak BP LLC<sup>(c),(r)</sup>  | Kodiak BP LLC<sup>(c),(r)</sup>  | Kodiak BP LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.750% <br>12/04/2031<br>| &nbsp;&nbsp; 8.035% | 25862 | &nbsp;&nbsp; 24814 |
| LBM Acquisition LLC <sup>(c),(r)</sup>  | LBM Acquisition LLC <sup>(c),(r)</sup>  | LBM Acquisition LLC <sup>(c),(r)</sup>  | LBM Acquisition LLC <sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.750% <br>Floor 0.750% <br>06/06/2031<br>| &nbsp;&nbsp; 8.179% | 296986 | &nbsp;&nbsp; 280467 |
| Madison Safety & Flow LLC<sup>(c),(r)</sup>  | Madison Safety & Flow LLC<sup>(c),(r)</sup>  | Madison Safety & Flow LLC<sup>(c),(r)</sup>  | Madison Safety & Flow LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.750% <br>09/26/2031<br>| &nbsp;&nbsp; 7.072% | 40738 | &nbsp;&nbsp; 40382 |
| Queen Mergerco, Inc.<sup>(c),(m),(r)</sup>  | Queen Mergerco, Inc.<sup>(c),(m),(r)</sup>  | Queen Mergerco, Inc.<sup>(c),(m),(r)</sup>  | Queen Mergerco, Inc.<sup>(c),(m),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>04/29/2032<br>| &nbsp;&nbsp; 7.280% | 42857 | &nbsp;&nbsp; 42803 |
| Quikrete Holdings, Inc.<sup>(c),(r)</sup>  | Quikrete Holdings, Inc.<sup>(c),(r)</sup>  | Quikrete Holdings, Inc.<sup>(c),(r)</sup>  | Quikrete Holdings, Inc.<sup>(c),(r)</sup>  |
| Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan |
| 1-month Term SOFR + 2.250% <br>04/14/2031<br>| &nbsp;&nbsp; 6.572% | 296232 | &nbsp;&nbsp; 290198 |
| Tranche B3 1st Lien Term Loan | Tranche B3 1st Lien Term Loan | Tranche B3 1st Lien Term Loan | Tranche B3 1st Lien Term Loan |
| 1-month Term SOFR + 2.250% <br>02/10/2032<br>| &nbsp;&nbsp; 6.572% | 479 | &nbsp;&nbsp; 469 |
| Specialty Building Products Holdings LLC<sup>(c),(r)</sup>  | Specialty Building Products Holdings LLC<sup>(c),(r)</sup>  | Specialty Building Products Holdings LLC<sup>(c),(r)</sup>  | Specialty Building Products Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.750% <br>Floor 0.500% <br>10/15/2028<br>| &nbsp;&nbsp; 8.172% | 118141 | &nbsp;&nbsp; 110085 |
| Standard Building Solutions, Inc.<sup>(c),(r)</sup>  | Standard Building Solutions, Inc.<sup>(c),(r)</sup>  | Standard Building Solutions, Inc.<sup>(c),(r)</sup>  | Standard Building Solutions, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 1.750% <br>Floor 0.500% <br>09/22/2028<br>| &nbsp;&nbsp; 6.069% | 100484 | &nbsp;&nbsp; 100468 |
| White Cap Supply Holdings LLC<sup>(c),(r)</sup>  | White Cap Supply Holdings LLC<sup>(c),(r)</sup>  | White Cap Supply Holdings LLC<sup>(c),(r)</sup>  | White Cap Supply Holdings LLC<sup>(c),(r)</sup>  |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 1-month Term SOFR + 3.250% <br>10/19/2029<br>| &nbsp;&nbsp; 7.575% | 297727 | &nbsp;&nbsp; 289673 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1836566** |
| **Cable and Satellite 0.0%** | **Cable and Satellite 0.0%** | **Cable and Satellite 0.0%** | **Cable and Satellite 0.0%** |
| Sunrise Financing Partnership<sup>(c),(r)</sup>  | Sunrise Financing Partnership<sup>(c),(r)</sup>  | Sunrise Financing Partnership<sup>(c),(r)</sup>  | Sunrise Financing Partnership<sup>(c),(r)</sup>  |
| Tranche AAA Term Loan | Tranche AAA Term Loan | Tranche AAA Term Loan | Tranche AAA Term Loan |
| 6-month Term SOFR + 2.500% <br>02/15/2032<br>| &nbsp;&nbsp; 6.793% | 152000 | &nbsp;&nbsp; 150967 |
| Virgin Media Bristol LLC<sup>(c),(r)</sup>  | Virgin Media Bristol LLC<sup>(c),(r)</sup>  | Virgin Media Bristol LLC<sup>(c),(r)</sup>  | Virgin Media Bristol LLC<sup>(c),(r)</sup>  |
| Tranche N Term Loan | Tranche N Term Loan | Tranche N Term Loan | Tranche N Term Loan |
| 1-month Term SOFR + 2.500% <br>01/31/2028<br>| &nbsp;&nbsp; 6.936% | 300000 | &nbsp;&nbsp; 295374 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **446341** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Chemicals 0.1%** | **Chemicals 0.1%** | **Chemicals 0.1%** | **Chemicals 0.1%** |
| A-AP Buyer, Inc.<sup>(c),(r)</sup>  | A-AP Buyer, Inc.<sup>(c),(r)</sup>  | A-AP Buyer, Inc.<sup>(c),(r)</sup>  | A-AP Buyer, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>09/09/2031<br>| &nbsp;&nbsp; 7.072% | 143709 | &nbsp;&nbsp; 143170 |
| Ineos Quattro Holdings UK Ltd.<sup>(c),(r)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(c),(r)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(c),(r)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 4.250% <br>04/02/2029<br>| &nbsp;&nbsp; 8.672% | 297000 | &nbsp;&nbsp; 252450 |
| Ineos US Finance LLC<sup>(c),(r)</sup>  | Ineos US Finance LLC<sup>(c),(r)</sup>  | Ineos US Finance LLC<sup>(c),(r)</sup>  | Ineos US Finance LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>02/07/2031<br>| &nbsp;&nbsp; 7.322% | 297754 | &nbsp;&nbsp; 274678 |
| Innophos Holdings, Inc.<sup>(c),(r)</sup>  | Innophos Holdings, Inc.<sup>(c),(r)</sup>  | Innophos Holdings, Inc.<sup>(c),(r)</sup>  | Innophos Holdings, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.250% <br>03/16/2029<br>| &nbsp;&nbsp; 8.686% | 149215 | &nbsp;&nbsp; 146454 |
| Olympus Water US Holding Corp.<sup>(c),(r)</sup>  | Olympus Water US Holding Corp.<sup>(c),(r)</sup>  | Olympus Water US Holding Corp.<sup>(c),(r)</sup>  | Olympus Water US Holding Corp.<sup>(c),(r)</sup>  |
| Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan |
| 3-month Term SOFR + 3.000% <br>06/20/2031<br>| &nbsp;&nbsp; 7.299% | 275410 | &nbsp;&nbsp; 271653 |
| Rockpoint Gas Storage Partners LP<sup>(c),(r)</sup>  | Rockpoint Gas Storage Partners LP<sup>(c),(r)</sup>  | Rockpoint Gas Storage Partners LP<sup>(c),(r)</sup>  | Rockpoint Gas Storage Partners LP<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>09/18/2031<br>| &nbsp;&nbsp; 7.299% | 149625 | &nbsp;&nbsp; 147614 |
| USALCO LLC<sup>(c),(m),(r),(s)</sup>  | USALCO LLC<sup>(c),(m),(r),(s)</sup>  | USALCO LLC<sup>(c),(m),(r),(s)</sup>  | USALCO LLC<sup>(c),(m),(r),(s)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 4.000% <br>Floor 0.500% <br>09/30/2031<br>| &nbsp;&nbsp; 1.000% | 5805 | &nbsp;&nbsp; 5781 |
| USALCO LLC<sup>(c),(r)</sup>  | USALCO LLC<sup>(c),(r)</sup>  | USALCO LLC<sup>(c),(r)</sup>  | USALCO LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.000% <br>Floor 0.500% <br>09/30/2031<br>| &nbsp;&nbsp; 8.299% | 56208 | &nbsp;&nbsp; 55974 |
| Windsor Holdings III LLC<sup>(c),(r)</sup>  | Windsor Holdings III LLC<sup>(c),(r)</sup>  | Windsor Holdings III LLC<sup>(c),(r)</sup>  | Windsor Holdings III LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.750% <br>08/01/2030<br>| &nbsp;&nbsp; 7.073% | 296265 | &nbsp;&nbsp; 291747 |
| WR Grace Holdings LLC<sup>(c),(r)</sup>  | WR Grace Holdings LLC<sup>(c),(r)</sup>  | WR Grace Holdings LLC<sup>(c),(r)</sup>  | WR Grace Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>Floor 0.500% <br>09/22/2028<br>| &nbsp;&nbsp; 7.549% | 507937 | &nbsp;&nbsp; 497464 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2086985** |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Consumer Cyclical Services 0.1%** | **Consumer Cyclical Services 0.1%** | **Consumer Cyclical Services 0.1%** | **Consumer Cyclical Services 0.1%** |
| AlixPartners LLP<sup>(c),(r)</sup>  | AlixPartners LLP<sup>(c),(r)</sup>  | AlixPartners LLP<sup>(c),(r)</sup>  | AlixPartners LLP<sup>(c),(r)</sup>  |
| Term Loan  | Term Loan  | Term Loan  | Term Loan  |
| 1-month Term SOFR + 2.500% <br>Floor 0.500% <br>02/04/2028<br>| &nbsp;&nbsp; 6.936% | 296143 | &nbsp;&nbsp; 295732 |
| AmSpec Parent LLC<sup>(c),(m),(r),(s)</sup>  | AmSpec Parent LLC<sup>(c),(m),(r),(s)</sup>  | AmSpec Parent LLC<sup>(c),(m),(r),(s)</sup>  | AmSpec Parent LLC<sup>(c),(m),(r),(s)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 1.000% <br>12/22/2031<br>| &nbsp;&nbsp; 1.000% | 20000 | &nbsp;&nbsp; 19950 |
| AmSpec Parent LLC<sup>(c),(r)</sup>  | AmSpec Parent LLC<sup>(c),(r)</sup>  | AmSpec Parent LLC<sup>(c),(r)</sup>  | AmSpec Parent LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.250% <br>12/22/2031<br>| &nbsp;&nbsp; 8.549% | 130000 | &nbsp;&nbsp; 129675 |
| Arches Buyer, Inc.<sup>(c),(r)</sup>  | Arches Buyer, Inc.<sup>(c),(r)</sup>  | Arches Buyer, Inc.<sup>(c),(r)</sup>  | Arches Buyer, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>Floor 0.500% <br>12/06/2027<br>| &nbsp;&nbsp; 7.672% | 296134 | &nbsp;&nbsp; 289767 |
| Conservice Midco LLC<sup>(c),(r)</sup>  | Conservice Midco LLC<sup>(c),(r)</sup>  | Conservice Midco LLC<sup>(c),(r)</sup>  | Conservice Midco LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>05/13/2030<br>| &nbsp;&nbsp; 7.322% | 296265 | &nbsp;&nbsp; 294289 |
| Corporation Service Co.<sup>(c),(r)</sup>  | Corporation Service Co.<sup>(c),(r)</sup>  | Corporation Service Co.<sup>(c),(r)</sup>  | Corporation Service Co.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.000% <br>Floor 0.500% <br>11/02/2029<br>| &nbsp;&nbsp; 6.322% | 304382 | &nbsp;&nbsp; 301086 |
| Ensemble RCM LLC<sup>(c),(r)</sup>  | Ensemble RCM LLC<sup>(c),(r)</sup>  | Ensemble RCM LLC<sup>(c),(r)</sup>  | Ensemble RCM LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>08/01/2029<br>| &nbsp;&nbsp; 7.280% | 69784 | &nbsp;&nbsp; 69675 |
| Fleet Midco I Ltd.<sup>(b),(c),(r)</sup>  | Fleet Midco I Ltd.<sup>(b),(c),(r)</sup>  | Fleet Midco I Ltd.<sup>(b),(c),(r)</sup>  | Fleet Midco I Ltd.<sup>(b),(c),(r)</sup>  |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 6-month Term SOFR + 2.750% <br>02/21/2031<br>| &nbsp;&nbsp; 7.055% | 102170 | &nbsp;&nbsp; 101660 |
| OMNIA Partners LLC<sup>(c),(r)</sup>  | OMNIA Partners LLC<sup>(c),(r)</sup>  | OMNIA Partners LLC<sup>(c),(r)</sup>  | OMNIA Partners LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>07/25/2030<br>| &nbsp;&nbsp; 7.033% | 149250 | &nbsp;&nbsp; 148441 |
| PG Polaris Bidco SARL<sup>(c),(r)</sup>  | PG Polaris Bidco SARL<sup>(c),(r)</sup>  | PG Polaris Bidco SARL<sup>(c),(r)</sup>  | PG Polaris Bidco SARL<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>03/26/2031<br>| &nbsp;&nbsp; 7.299% | 281823 | &nbsp;&nbsp; 280554 |
| Prime Security Services Borrower LLC<sup>(c),(r)</sup>  | Prime Security Services Borrower LLC<sup>(c),(r)</sup>  | Prime Security Services Borrower LLC<sup>(c),(r)</sup>  | Prime Security Services Borrower LLC<sup>(c),(r)</sup>  |
| Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan |
| 1-month Term SOFR + 2.000% <br>10/13/2030<br>| &nbsp;&nbsp; 6.319% | 148505 | &nbsp;&nbsp; 147746 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Raven Acquisition Holdings LLC<sup>(c),(m),(r),(s)</sup>  | Raven Acquisition Holdings LLC<sup>(c),(m),(r),(s)</sup>  | Raven Acquisition Holdings LLC<sup>(c),(m),(r),(s)</sup>  | Raven Acquisition Holdings LLC<sup>(c),(m),(r),(s)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 3.250% <br>11/19/2031<br>| &nbsp;&nbsp; 3.250% | 11650 | &nbsp;&nbsp; 11516 |
| Raven Acquisition Holdings LLC<sup>(c),(r)</sup>  | Raven Acquisition Holdings LLC<sup>(c),(r)</sup>  | Raven Acquisition Holdings LLC<sup>(c),(r)</sup>  | Raven Acquisition Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>11/19/2031<br>| &nbsp;&nbsp; 7.572% | 163096 | &nbsp;&nbsp; 161232 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2251323** |
| **Consumer Products 0.0%** | **Consumer Products 0.0%** | **Consumer Products 0.0%** | **Consumer Products 0.0%** |
| Bombardier Recreational Products, Inc.<sup>(c),(r)</sup>  | Bombardier Recreational Products, Inc.<sup>(c),(r)</sup>  | Bombardier Recreational Products, Inc.<sup>(c),(r)</sup>  | Bombardier Recreational Products, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>01/22/2031<br>| &nbsp;&nbsp; 7.072% | 295500 | &nbsp;&nbsp; 284543 |
| Recess Holdings, Inc.<sup>(c),(r)</sup>  | Recess Holdings, Inc.<sup>(c),(r)</sup>  | Recess Holdings, Inc.<sup>(c),(r)</sup>  | Recess Holdings, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.750% <br>02/20/2030<br>| &nbsp;&nbsp; 8.025% | 297006 | &nbsp;&nbsp; 293943 |
| SRAM LLC<sup>(c),(r)</sup>  | SRAM LLC<sup>(c),(r)</sup>  | SRAM LLC<sup>(c),(r)</sup>  | SRAM LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>02/27/2032<br>| &nbsp;&nbsp; 6.570% | 53185 | &nbsp;&nbsp; 51324 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **629810** |
| **Diversified Manufacturing 0.1%** | **Diversified Manufacturing 0.1%** | **Diversified Manufacturing 0.1%** | **Diversified Manufacturing 0.1%** |
| Dynamo Midco BV<sup>(c),(r)</sup>  | Dynamo Midco BV<sup>(c),(r)</sup>  | Dynamo Midco BV<sup>(c),(r)</sup>  | Dynamo Midco BV<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>09/30/2031<br>| &nbsp;&nbsp; 7.798% | 59700 | &nbsp;&nbsp; 59402 |
| EMRLD Borrower LP<sup>(c),(r)</sup>  | EMRLD Borrower LP<sup>(c),(r)</sup>  | EMRLD Borrower LP<sup>(c),(r)</sup>  | EMRLD Borrower LP<sup>(c),(r)</sup>  |
| Tranche B Term Loan  | Tranche B Term Loan  | Tranche B Term Loan  | Tranche B Term Loan  |
| 6-month Term SOFR + 2.500% <br>05/31/2030<br>| &nbsp;&nbsp; 6.933% | 283275 | &nbsp;&nbsp; 279629 |
| Husky Injection Molding Systems Ltd./Yukon Acquisition, Inc.<sup>(c),(r)</sup>  | Husky Injection Molding Systems Ltd./Yukon Acquisition, Inc.<sup>(c),(r)</sup>  | Husky Injection Molding Systems Ltd./Yukon Acquisition, Inc.<sup>(c),(r)</sup>  | Husky Injection Molding Systems Ltd./Yukon Acquisition, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 4.500% <br>02/15/2029<br>| &nbsp;&nbsp; 8.785% | 252478 | &nbsp;&nbsp; 246618 |
| Madison IAQ LLC<sup>(c),(r)</sup>  | Madison IAQ LLC<sup>(c),(r)</sup>  | Madison IAQ LLC<sup>(c),(r)</sup>  | Madison IAQ LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 2.500% <br>06/21/2028<br>| &nbsp;&nbsp; 6.762% | 296923 | &nbsp;&nbsp; 293844 |
| TK Elevator Midco GmbH<sup>(c),(r)</sup>  | TK Elevator Midco GmbH<sup>(c),(r)</sup>  | TK Elevator Midco GmbH<sup>(c),(r)</sup>  | TK Elevator Midco GmbH<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>04/30/2030<br>| &nbsp;&nbsp; 7.237% | 296269 | &nbsp;&nbsp; 294787 |
| WEC US Holdings Ltd.<sup>(c),(r)</sup>  | WEC US Holdings Ltd.<sup>(c),(r)</sup>  | WEC US Holdings Ltd.<sup>(c),(r)</sup>  | WEC US Holdings Ltd.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>01/27/2031<br>| &nbsp;&nbsp; 6.574% | 283071 | &nbsp;&nbsp; 280169 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1454449** |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Electric 0.0%** | **Electric 0.0%** | **Electric 0.0%** | **Electric 0.0%** |
| Alpha Generation LLC<sup>(c),(r)</sup>  | Alpha Generation LLC<sup>(c),(r)</sup>  | Alpha Generation LLC<sup>(c),(r)</sup>  | Alpha Generation LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.750% <br>09/30/2031<br>| &nbsp;&nbsp; 7.072% | 81477 | &nbsp;&nbsp; 81419 |
| Calpine Corp.<sup>(c),(r)</sup>  | Calpine Corp.<sup>(c),(r)</sup>  | Calpine Corp.<sup>(c),(r)</sup>  | Calpine Corp.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 1.750% <br>01/31/2031<br>| &nbsp;&nbsp; 6.072% | 298500 | &nbsp;&nbsp; 296972 |
| Carroll County Energy LLC<sup>(c),(r)</sup>  | Carroll County Energy LLC<sup>(c),(r)</sup>  | Carroll County Energy LLC<sup>(c),(r)</sup>  | Carroll County Energy LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>06/30/2031<br>| &nbsp;&nbsp; 7.549% | 128421 | &nbsp;&nbsp; 128549 |
| Compass Power Generation LLC<sup>(c),(r)</sup>  | Compass Power Generation LLC<sup>(c),(r)</sup>  | Compass Power Generation LLC<sup>(c),(r)</sup>  | Compass Power Generation LLC<sup>(c),(r)</sup>  |
| Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan |
| 1-month Term SOFR + 3.750% <br>04/14/2029<br>| &nbsp;&nbsp; 8.072% | 49536 | &nbsp;&nbsp; 49613 |
| Cornerstone Generation<sup>(c),(m),(r)</sup>  | Cornerstone Generation<sup>(c),(m),(r)</sup>  | Cornerstone Generation<sup>(c),(m),(r)</sup>  | Cornerstone Generation<sup>(c),(m),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.750% <br>10/28/2031<br>| &nbsp;&nbsp; 8.054% | 150000 | &nbsp;&nbsp; 149969 |
| EFS Cogen Holdings I LLC<sup>(c),(r)</sup>  | EFS Cogen Holdings I LLC<sup>(c),(r)</sup>  | EFS Cogen Holdings I LLC<sup>(c),(r)</sup>  | EFS Cogen Holdings I LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>Floor 1.000% <br>10/03/2031<br>| &nbsp;&nbsp; 7.799% | 181268 | &nbsp;&nbsp; 181117 |
| Hamilton Projects Acquiror LLC<sup>(c),(r)</sup>  | Hamilton Projects Acquiror LLC<sup>(c),(r)</sup>  | Hamilton Projects Acquiror LLC<sup>(c),(r)</sup>  | Hamilton Projects Acquiror LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>Floor 0.500% <br>05/30/2031<br>| &nbsp;&nbsp; 7.322% | 120643 | &nbsp;&nbsp; 120859 |
| South Field Energy LLC<sup>(c),(r)</sup>  | South Field Energy LLC<sup>(c),(r)</sup>  | South Field Energy LLC<sup>(c),(r)</sup>  | South Field Energy LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>08/29/2031<br>| &nbsp;&nbsp; 7.549% | 47764 | &nbsp;&nbsp; 47496 |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 3-month Term SOFR + 3.250% <br>08/29/2031<br>| &nbsp;&nbsp; 7.549% | 3053 | &nbsp;&nbsp; 3036 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1059030** |
| **Environmental 0.0%** | **Environmental 0.0%** | **Environmental 0.0%** | **Environmental 0.0%** |
| EnergySolutions LLC/Envirocare of Utah LLC <sup>(c),(r)</sup>  | EnergySolutions LLC/Envirocare of Utah LLC <sup>(c),(r)</sup>  | EnergySolutions LLC/Envirocare of Utah LLC <sup>(c),(r)</sup>  | EnergySolutions LLC/Envirocare of Utah LLC <sup>(c),(r)</sup>  |
| Term Loan  | Term Loan  | Term Loan  | Term Loan  |
| 1-month Term SOFR + 3.250% <br>Floor 0.500% <br>09/20/2030<br>| &nbsp;&nbsp; 7.572% | 154692 | &nbsp;&nbsp; 153725 |
| GFL Environmental Services, Inc.<sup>(c),(r)</sup>  | GFL Environmental Services, Inc.<sup>(c),(r)</sup>  | GFL Environmental Services, Inc.<sup>(c),(r)</sup>  | GFL Environmental Services, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.500% <br>03/03/2032<br>| &nbsp;&nbsp; 6.819% | 150000 | &nbsp;&nbsp; 147750 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Northstar Group Services, Inc.<sup>(c),(r)</sup>  | Northstar Group Services, Inc.<sup>(c),(r)</sup>  | Northstar Group Services, Inc.<sup>(c),(r)</sup>  | Northstar Group Services, Inc.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 6-month Term SOFR + 4.750% <br>Floor 0.500% <br>05/31/2030<br>| &nbsp;&nbsp; 8.881% | 102763 | &nbsp;&nbsp; 102603 |
| Reworld Holding Corp.<sup>(c),(r)</sup>  | Reworld Holding Corp.<sup>(c),(r)</sup>  | Reworld Holding Corp.<sup>(c),(r)</sup>  | Reworld Holding Corp.<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 1-month Term SOFR + 2.250% <br>11/30/2028<br>| &nbsp;&nbsp; 6.579% | 275929 | &nbsp;&nbsp; 274549 |
| Tranche C1 Term Loan | Tranche C1 Term Loan | Tranche C1 Term Loan | Tranche C1 Term Loan |
| 1-month Term SOFR + 2.250% <br>11/30/2028<br>| &nbsp;&nbsp; 6.579% | 21252 | &nbsp;&nbsp; 21146 |
| Tidal Waste & Recycling Holdings LLC<sup>(c),(r)</sup>  | Tidal Waste & Recycling Holdings LLC<sup>(c),(r)</sup>  | Tidal Waste & Recycling Holdings LLC<sup>(c),(r)</sup>  | Tidal Waste & Recycling Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>10/24/2031<br>| &nbsp;&nbsp; 7.799% | 60000 | &nbsp;&nbsp; 59975 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **759748** |
| **Food and Beverage 0.1%** | **Food and Beverage 0.1%** | **Food and Beverage 0.1%** | **Food and Beverage 0.1%** |
| A-AG US GSI Bidco, Inc.<sup>(c),(r)</sup>  | A-AG US GSI Bidco, Inc.<sup>(c),(r)</sup>  | A-AG US GSI Bidco, Inc.<sup>(c),(r)</sup>  | A-AG US GSI Bidco, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 5.000% <br>10/31/2031<br>| &nbsp;&nbsp; 9.299% | 108333 | &nbsp;&nbsp; 108062 |
| Aramark Intermediate HoldCo Corp.<sup>(c),(r)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(c),(r)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(c),(r)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(c),(r)</sup>  |
| Tranche B7 Term Loan | Tranche B7 Term Loan | Tranche B7 Term Loan | Tranche B7 Term Loan |
| 1-month Term SOFR + 2.000% <br>04/06/2028<br>| &nbsp;&nbsp; 6.322% | 300000 | &nbsp;&nbsp; 300225 |
| Aspire Bakeries Holdings LLC<sup>(c),(r)</sup>  | Aspire Bakeries Holdings LLC<sup>(c),(r)</sup>  | Aspire Bakeries Holdings LLC<sup>(c),(r)</sup>  | Aspire Bakeries Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.250% <br>12/23/2030<br>| &nbsp;&nbsp; 8.572% | 105177 | &nbsp;&nbsp; 104914 |
| CHG PPC Parent LLC<sup>(b),(c),(r)</sup>  | CHG PPC Parent LLC<sup>(b),(c),(r)</sup>  | CHG PPC Parent LLC<sup>(b),(c),(r)</sup>  | CHG PPC Parent LLC<sup>(b),(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>Floor 0.500% <br>12/08/2028<br>| &nbsp;&nbsp; 7.436% | 58922 | &nbsp;&nbsp; 58775 |
| Dechra Pharmaceuticals Holdings Ltd.<sup>(c),(m),(r)</sup>  | Dechra Pharmaceuticals Holdings Ltd.<sup>(c),(m),(r)</sup>  | Dechra Pharmaceuticals Holdings Ltd.<sup>(c),(m),(r)</sup>  | Dechra Pharmaceuticals Holdings Ltd.<sup>(c),(m),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 6-month Term SOFR + 3.250% <br>01/27/2032<br>| &nbsp;&nbsp; 7.513% | 197380 | &nbsp;&nbsp; 195159 |
| Golden State Foods LLC<sup>(c),(r)</sup>  | Golden State Foods LLC<sup>(c),(r)</sup>  | Golden State Foods LLC<sup>(c),(r)</sup>  | Golden State Foods LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.250% <br>12/04/2031<br>| &nbsp;&nbsp; 8.571% | 123244 | &nbsp;&nbsp; 123311 |
| Primary Products Finance LLC<sup>(c),(r)</sup>  | Primary Products Finance LLC<sup>(c),(r)</sup>  | Primary Products Finance LLC<sup>(c),(r)</sup>  | Primary Products Finance LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>04/01/2029<br>| &nbsp;&nbsp; 7.535% | 296261 | &nbsp;&nbsp; 291924 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Primo Brands Corp.<sup>(c),(r)</sup>  | Primo Brands Corp.<sup>(c),(r)</sup>  | Primo Brands Corp.<sup>(c),(r)</sup>  | Primo Brands Corp.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 2.250% <br>03/31/2028<br>| &nbsp;&nbsp; 6.549% | 296181 | &nbsp;&nbsp; 293515 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1475885** |
| **Gaming 0.1%** | **Gaming 0.1%** | **Gaming 0.1%** | **Gaming 0.1%** |
| Caesars Entertainment, Inc.<sup>(c),(r)</sup>  | Caesars Entertainment, Inc.<sup>(c),(r)</sup>  | Caesars Entertainment, Inc.<sup>(c),(r)</sup>  | Caesars Entertainment, Inc.<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 2.250% <br>Floor 0.500% <br>02/06/2031<br>| &nbsp;&nbsp; 6.563% | 218842 | &nbsp;&nbsp; 215058 |
| ECL Entertainment LLC<sup>(c),(r)</sup>  | ECL Entertainment LLC<sup>(c),(r)</sup>  | ECL Entertainment LLC<sup>(c),(r)</sup>  | ECL Entertainment LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.500% <br>08/30/2030<br>| &nbsp;&nbsp; 7.822% | 143857 | &nbsp;&nbsp; 142418 |
| Entain PLC<sup>(c),(r)</sup>  | Entain PLC<sup>(c),(r)</sup>  | Entain PLC<sup>(c),(r)</sup>  | Entain PLC<sup>(c),(r)</sup>  |
| Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan |
| 3-month Term SOFR + 2.750% <br>Floor 0.500% <br>10/31/2029<br>| &nbsp;&nbsp; 7.053% | 296999 | &nbsp;&nbsp; 296503 |
| Fertitta Entertainment LLC<sup>(c),(r)</sup>  | Fertitta Entertainment LLC<sup>(c),(r)</sup>  | Fertitta Entertainment LLC<sup>(c),(r)</sup>  | Fertitta Entertainment LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.500% <br>Floor 0.500% <br>01/27/2029<br>| &nbsp;&nbsp; 7.822% | 296183 | &nbsp;&nbsp; 288225 |
| Flutter Entertainment PLC<sup>(c),(r)</sup>  | Flutter Entertainment PLC<sup>(c),(r)</sup>  | Flutter Entertainment PLC<sup>(c),(r)</sup>  | Flutter Entertainment PLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 1.750% <br>11/30/2030<br>| &nbsp;&nbsp; 6.049% | 296250 | &nbsp;&nbsp; 291252 |
| HRNI Holdings LLC<sup>(c),(r)</sup>  | HRNI Holdings LLC<sup>(c),(r)</sup>  | HRNI Holdings LLC<sup>(c),(r)</sup>  | HRNI Holdings LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 4.250% <br>Floor 0.750% <br>12/11/2028<br>| &nbsp;&nbsp; 8.672% | 276562 | &nbsp;&nbsp; 271493 |
| Jack Ohio Finance LLC<sup>(c),(r)</sup>  | Jack Ohio Finance LLC<sup>(c),(r)</sup>  | Jack Ohio Finance LLC<sup>(c),(r)</sup>  | Jack Ohio Finance LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.000% <br>01/28/2032<br>| &nbsp;&nbsp; 8.322% | 60000 | &nbsp;&nbsp; 59475 |
| Ontario Gaming GTA LP<sup>(c),(r)</sup>  | Ontario Gaming GTA LP<sup>(c),(r)</sup>  | Ontario Gaming GTA LP<sup>(c),(r)</sup>  | Ontario Gaming GTA LP<sup>(c),(r)</sup>  |
| Tranche B 1st Lien Term Loan  | Tranche B 1st Lien Term Loan  | Tranche B 1st Lien Term Loan  | Tranche B 1st Lien Term Loan  |
| 3-month Term SOFR + 4.250% <br>Floor 0.500% <br>08/01/2030<br>| &nbsp;&nbsp; 8.549% | 249272 | &nbsp;&nbsp; 240672 |
| Penn Entertainment, Inc.<sup>(c),(r)</sup>  | Penn Entertainment, Inc.<sup>(c),(r)</sup>  | Penn Entertainment, Inc.<sup>(c),(r)</sup>  | Penn Entertainment, Inc.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>Floor 0.500% <br>05/03/2029<br>| &nbsp;&nbsp; 6.822% | 296193 | &nbsp;&nbsp; 294712 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Scientific Games Holdings LP <sup>(c),(r)</sup>  | Scientific Games Holdings LP <sup>(c),(r)</sup>  | Scientific Games Holdings LP <sup>(c),(r)</sup>  | Scientific Games Holdings LP <sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>Floor 0.500% <br>04/04/2029<br>| &nbsp;&nbsp; 7.285% | 297744 | &nbsp;&nbsp; 294809 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2394617** |
| **Health Care 0.1%** | **Health Care 0.1%** | **Health Care 0.1%** | **Health Care 0.1%** |
| Auris Luxembourg III SARL<sup>(c),(m),(r)</sup>  | Auris Luxembourg III SARL<sup>(c),(m),(r)</sup>  | Auris Luxembourg III SARL<sup>(c),(m),(r)</sup>  | Auris Luxembourg III SARL<sup>(c),(m),(r)</sup>  |
| Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan |
| 3-month Term SOFR + 3.750% <br>02/28/2029<br>| &nbsp;&nbsp; 7.882% | 222114 | &nbsp;&nbsp; 219153 |
| Medline Borrower LP<sup>(c),(r)</sup>  | Medline Borrower LP<sup>(c),(r)</sup>  | Medline Borrower LP<sup>(c),(r)</sup>  | Medline Borrower LP<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>Floor 0.500% <br>10/23/2028<br>| &nbsp;&nbsp; 6.572% | 449750 | &nbsp;&nbsp; 446422 |
| Parexel International, Inc.<sup>(c),(r)</sup>  | Parexel International, Inc.<sup>(c),(r)</sup>  | Parexel International, Inc.<sup>(c),(r)</sup>  | Parexel International, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>11/15/2028<br>| &nbsp;&nbsp; 6.822% | 284738 | &nbsp;&nbsp; 282854 |
| Southern Veterinary Partners LLC<sup>(c),(r)</sup>  | Southern Veterinary Partners LLC<sup>(c),(r)</sup>  | Southern Veterinary Partners LLC<sup>(c),(r)</sup>  | Southern Veterinary Partners LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.250% <br>12/04/2031<br>| &nbsp;&nbsp; 7.527% | 205889 | &nbsp;&nbsp; 205092 |
| Star Parent, Inc.<sup>(c),(r)</sup>  | Star Parent, Inc.<sup>(c),(r)</sup>  | Star Parent, Inc.<sup>(c),(r)</sup>  | Star Parent, Inc.<sup>(c),(r)</sup>  |
| Term Loan  | Term Loan  | Term Loan  | Term Loan  |
| 3-month Term SOFR + 4.000% <br>09/27/2030<br>| &nbsp;&nbsp; 8.299% | 297000 | &nbsp;&nbsp; 286792 |
| Surgery Center Holdings, Inc.<sup>(c),(r)</sup>  | Surgery Center Holdings, Inc.<sup>(c),(r)</sup>  | Surgery Center Holdings, Inc.<sup>(c),(r)</sup>  | Surgery Center Holdings, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>12/19/2030<br>| &nbsp;&nbsp; 7.070% | 297000 | &nbsp;&nbsp; 295794 |
| Upstream Newco, Inc.<sup>(c),(r)</sup>  | Upstream Newco, Inc.<sup>(c),(r)</sup>  | Upstream Newco, Inc.<sup>(c),(r)</sup>  | Upstream Newco, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 4.250% <br>11/20/2026<br>| &nbsp;&nbsp; 8.791% | 296154 | &nbsp;&nbsp; 212398 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1948505** |
| **Home Construction 0.0%** | **Home Construction 0.0%** | **Home Construction 0.0%** | **Home Construction 0.0%** |
| TECTA America Corp.<sup>(c),(r)</sup>  | TECTA America Corp.<sup>(c),(r)</sup>  | TECTA America Corp.<sup>(c),(r)</sup>  | TECTA America Corp.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>02/18/2032<br>| &nbsp;&nbsp; 7.322% | 47711 | &nbsp;&nbsp; 47164 |
| **Independent Energy 0.0%** | **Independent Energy 0.0%** | **Independent Energy 0.0%** | **Independent Energy 0.0%** |
| Hilcorp Energy I LP<sup>(c),(r)</sup>  | Hilcorp Energy I LP<sup>(c),(r)</sup>  | Hilcorp Energy I LP<sup>(c),(r)</sup>  | Hilcorp Energy I LP<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>02/11/2030<br>| &nbsp;&nbsp; 6.321% | 60000 | &nbsp;&nbsp; 58950 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Leisure 0.1%** | **Leisure 0.1%** | **Leisure 0.1%** | **Leisure 0.1%** |
| Alterra Mountain Co.<sup>(c),(r)</sup>  | Alterra Mountain Co.<sup>(c),(r)</sup>  | Alterra Mountain Co.<sup>(c),(r)</sup>  | Alterra Mountain Co.<sup>(c),(r)</sup>  |
| Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan |
| 1-month Term SOFR + 2.750% <br>08/17/2028<br>| &nbsp;&nbsp; 7.072% | 347361 | &nbsp;&nbsp; 346927 |
| Bulldog Purchaser, Inc.<sup>(c),(r)</sup>  | Bulldog Purchaser, Inc.<sup>(c),(r)</sup>  | Bulldog Purchaser, Inc.<sup>(c),(r)</sup>  | Bulldog Purchaser, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.750% <br>06/27/2031<br>| &nbsp;&nbsp; 8.035% | 95236 | &nbsp;&nbsp; 94641 |
| Carnival Corp.<sup>(c),(r)</sup>  | Carnival Corp.<sup>(c),(r)</sup>  | Carnival Corp.<sup>(c),(r)</sup>  | Carnival Corp.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>08/08/2027<br>| &nbsp;&nbsp; 6.329% | 187959 | &nbsp;&nbsp; 187607 |
| Cinemark USA, Inc.<sup>(c),(r)</sup>  | Cinemark USA, Inc.<sup>(c),(r)</sup>  | Cinemark USA, Inc.<sup>(c),(r)</sup>  | Cinemark USA, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>05/24/2030<br>| &nbsp;&nbsp; 7.065% | 296259 | &nbsp;&nbsp; 295273 |
| Crown Finance US, Inc.<sup>(c),(r)</sup>  | Crown Finance US, Inc.<sup>(c),(r)</sup>  | Crown Finance US, Inc.<sup>(c),(r)</sup>  | Crown Finance US, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 5.250% <br>12/02/2031<br>| &nbsp;&nbsp; 9.569% | 127181 | &nbsp;&nbsp; 125870 |
| EOC Borrower LLC<sup>(c),(r)</sup>  | EOC Borrower LLC<sup>(c),(r)</sup>  | EOC Borrower LLC<sup>(c),(r)</sup>  | EOC Borrower LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>03/24/2032<br>| &nbsp;&nbsp; 7.322% | 45000 | &nbsp;&nbsp; 44362 |
| Motion Acquisition Ltd.<sup>(c),(r)</sup>  | Motion Acquisition Ltd.<sup>(c),(r)</sup>  | Motion Acquisition Ltd.<sup>(c),(r)</sup>  | Motion Acquisition Ltd.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>11/12/2029<br>| &nbsp;&nbsp; 7.799% | 100731 | &nbsp;&nbsp; 94939 |
| UFC Holdings LLC<sup>(c),(r)</sup>  | UFC Holdings LLC<sup>(c),(r)</sup>  | UFC Holdings LLC<sup>(c),(r)</sup>  | UFC Holdings LLC<sup>(c),(r)</sup>  |
| Tranche B4 1st Lien Term Loan | Tranche B4 1st Lien Term Loan | Tranche B4 1st Lien Term Loan | Tranche B4 1st Lien Term Loan |
| 3-month Term SOFR + 2.250% <br>11/21/2031<br>| &nbsp;&nbsp; 6.580% | 231201 | &nbsp;&nbsp; 230863 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1420482** |
| **Lodging 0.0%** | **Lodging 0.0%** | **Lodging 0.0%** | **Lodging 0.0%** |
| Hilton Grand Vacations Borrower LLC<sup>(c),(r)</sup>  | Hilton Grand Vacations Borrower LLC<sup>(c),(r)</sup>  | Hilton Grand Vacations Borrower LLC<sup>(c),(r)</sup>  | Hilton Grand Vacations Borrower LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>Floor 0.500% <br>08/02/2028<br>| &nbsp;&nbsp; 6.322% | 201731 | &nbsp;&nbsp; 197697 |
| Playa Resorts Holding BV<sup>(c),(r)</sup>  | Playa Resorts Holding BV<sup>(c),(r)</sup>  | Playa Resorts Holding BV<sup>(c),(r)</sup>  | Playa Resorts Holding BV<sup>(c),(r)</sup>  |
| Term Loan  | Term Loan  | Term Loan  | Term Loan  |
| 1-month Term SOFR + 2.750% <br>01/05/2029<br>| &nbsp;&nbsp; 7.072% | 296212 | &nbsp;&nbsp; 295489 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **493186** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Media and Entertainment 0.1%** | **Media and Entertainment 0.1%** | **Media and Entertainment 0.1%** | **Media and Entertainment 0.1%** |
| Cengage Learning, Inc.<sup>(c),(r)</sup>  | Cengage Learning, Inc.<sup>(c),(r)</sup>  | Cengage Learning, Inc.<sup>(c),(r)</sup>  | Cengage Learning, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>03/24/2031<br>| &nbsp;&nbsp; 7.827% | 198503 | &nbsp;&nbsp; 197442 |
| Creative Artists Agency LLC<sup>(c),(r)</sup>  | Creative Artists Agency LLC<sup>(c),(r)</sup>  | Creative Artists Agency LLC<sup>(c),(r)</sup>  | Creative Artists Agency LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>10/01/2031<br>| &nbsp;&nbsp; 7.072% | 297006 | &nbsp;&nbsp; 295203 |
| Dotdash Meredith, Inc.<sup>(c),(r)</sup>  | Dotdash Meredith, Inc.<sup>(c),(r)</sup>  | Dotdash Meredith, Inc.<sup>(c),(r)</sup>  | Dotdash Meredith, Inc.<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 1-month Term SOFR + 3.500% <br>12/01/2028<br>| &nbsp;&nbsp; 7.824% | 290332 | &nbsp;&nbsp; 280897 |
| E.W. Scripps Co. (The)<sup>(c),(r)</sup>  | E.W. Scripps Co. (The)<sup>(c),(r)</sup>  | E.W. Scripps Co. (The)<sup>(c),(r)</sup>  | E.W. Scripps Co. (The)<sup>(c),(r)</sup>  |
| Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan |
| 1-month Term SOFR + 3.350% <br>Floor 0.750% <br>05/12/2025<br>| &nbsp;&nbsp; 7.439% | 294555 | &nbsp;&nbsp; 243217 |
| Plano Holdco, Inc.<sup>(c),(r)</sup>  | Plano Holdco, Inc.<sup>(c),(r)</sup>  | Plano Holdco, Inc.<sup>(c),(r)</sup>  | Plano Holdco, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>10/02/2031<br>| &nbsp;&nbsp; 7.799% | 188241 | &nbsp;&nbsp; 185418 |
| Playtika Holding Corp.<sup>(c),(r)</sup>  | Playtika Holding Corp.<sup>(c),(r)</sup>  | Playtika Holding Corp.<sup>(c),(r)</sup>  | Playtika Holding Corp.<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 1-month Term SOFR + 2.750% <br>03/13/2028<br>| &nbsp;&nbsp; 7.186% | 296144 | &nbsp;&nbsp; 288770 |
| StubHub Holdco Sub LLC<sup>(c),(r)</sup>  | StubHub Holdco Sub LLC<sup>(c),(r)</sup>  | StubHub Holdco Sub LLC<sup>(c),(r)</sup>  | StubHub Holdco Sub LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 4.750% <br>03/15/2030<br>| &nbsp;&nbsp; 9.072% | 191397 | &nbsp;&nbsp; 188168 |
| Univision Communications, Inc.<sup>(c),(r)</sup>  | Univision Communications, Inc.<sup>(c),(r)</sup>  | Univision Communications, Inc.<sup>(c),(r)</sup>  | Univision Communications, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.250% <br>Floor 0.750% <br>01/31/2029<br>| &nbsp;&nbsp; 7.686% | 147714 | &nbsp;&nbsp; 139774 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1818889** |
| **Midstream 0.1%** | **Midstream 0.1%** | **Midstream 0.1%** | **Midstream 0.1%** |
| CQP Holdco LP<sup>(c),(r)</sup>  | CQP Holdco LP<sup>(c),(r)</sup>  | CQP Holdco LP<sup>(c),(r)</sup>  | CQP Holdco LP<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.000% <br>12/31/2030<br>| &nbsp;&nbsp; 6.299% | 298502 | &nbsp;&nbsp; 296738 |
| Epic Crude Services LP<sup>(c),(r)</sup>  | Epic Crude Services LP<sup>(c),(r)</sup>  | Epic Crude Services LP<sup>(c),(r)</sup>  | Epic Crude Services LP<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>10/15/2031<br>| &nbsp;&nbsp; 7.256% | 38023 | &nbsp;&nbsp; 37948 |
| GIP Pilot Acquisition Partners LP<sup>(c),(r)</sup>  | GIP Pilot Acquisition Partners LP<sup>(c),(r)</sup>  | GIP Pilot Acquisition Partners LP<sup>(c),(r)</sup>  | GIP Pilot Acquisition Partners LP<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.000% <br>10/04/2030<br>| &nbsp;&nbsp; 6.277% | 292246 | &nbsp;&nbsp; 289690 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| NGP XI Midstream Holdings LLC<sup>(c),(r)</sup>  | NGP XI Midstream Holdings LLC<sup>(c),(r)</sup>  | NGP XI Midstream Holdings LLC<sup>(c),(r)</sup>  | NGP XI Midstream Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>07/25/2031<br>| &nbsp;&nbsp; 7.799% | 89775 | &nbsp;&nbsp; 88428 |
| Oryx Midstream Services Permian Basin LLC<sup>(c),(r)</sup>  | Oryx Midstream Services Permian Basin LLC<sup>(c),(r)</sup>  | Oryx Midstream Services Permian Basin LLC<sup>(c),(r)</sup>  | Oryx Midstream Services Permian Basin LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>10/05/2028<br>| &nbsp;&nbsp; 6.573% | 296257 | &nbsp;&nbsp; 292972 |
| WhiteWater DBR Holdco LLC<sup>(c),(r)</sup>  | WhiteWater DBR Holdco LLC<sup>(c),(r)</sup>  | WhiteWater DBR Holdco LLC<sup>(c),(r)</sup>  | WhiteWater DBR Holdco LLC<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 2.250% <br>03/03/2031<br>| &nbsp;&nbsp; 6.549% | 243617 | &nbsp;&nbsp; 242779 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1248555** |
| **Natural Gas 0.0%** | **Natural Gas 0.0%** | **Natural Gas 0.0%** | **Natural Gas 0.0%** |
| AL GCX Fund VIII Holdings LLC<sup>(c),(r)</sup>  | AL GCX Fund VIII Holdings LLC<sup>(c),(r)</sup>  | AL GCX Fund VIII Holdings LLC<sup>(c),(r)</sup>  | AL GCX Fund VIII Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>01/30/2032<br>| &nbsp;&nbsp; 6.325% | 25000 | &nbsp;&nbsp; 24677 |
| **Oil Field Services 0.0%** | **Oil Field Services 0.0%** | **Oil Field Services 0.0%** | **Oil Field Services 0.0%** |
| Goodnight Water Solutions Holdings LLC<sup>(c),(r)</sup>  | Goodnight Water Solutions Holdings LLC<sup>(c),(r)</sup>  | Goodnight Water Solutions Holdings LLC<sup>(c),(r)</sup>  | Goodnight Water Solutions Holdings LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.500% <br>06/04/2029<br>| &nbsp;&nbsp; 8.822% | 143216 | &nbsp;&nbsp; 138920 |
| MRC Global US, Inc.<sup>(c),(r)</sup>  | MRC Global US, Inc.<sup>(c),(r)</sup>  | MRC Global US, Inc.<sup>(c),(r)</sup>  | MRC Global US, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.500% <br>10/29/2031<br>| &nbsp;&nbsp; 7.822% | 180996 | &nbsp;&nbsp; 179638 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **318558** |
| **Other Financial Institutions 0.0%** | **Other Financial Institutions 0.0%** | **Other Financial Institutions 0.0%** | **Other Financial Institutions 0.0%** |
| 19th Holdings Golf LLC<sup>(c),(r)</sup>  | 19th Holdings Golf LLC<sup>(c),(r)</sup>  | 19th Holdings Golf LLC<sup>(c),(r)</sup>  | 19th Holdings Golf LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>Floor 0.500% <br>02/07/2029<br>| &nbsp;&nbsp; 7.671% | 296193 | &nbsp;&nbsp; 281754 |
| Acuren Delaware Holdco, Inc.<sup>(c),(r)</sup>  | Acuren Delaware Holdco, Inc.<sup>(c),(r)</sup>  | Acuren Delaware Holdco, Inc.<sup>(c),(r)</sup>  | Acuren Delaware Holdco, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>07/30/2031<br>| &nbsp;&nbsp; 7.072% | 44850 | &nbsp;&nbsp; 44710 |
| BCP VI Summit Holdings LP<sup>(c),(r)</sup>  | BCP VI Summit Holdings LP<sup>(c),(r)</sup>  | BCP VI Summit Holdings LP<sup>(c),(r)</sup>  | BCP VI Summit Holdings LP<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.500% <br>01/30/2032<br>| &nbsp;&nbsp; 7.822% | 51563 | &nbsp;&nbsp; 51316 |
| Hunter Douglas Holding BV<sup>(c),(r)</sup>  | Hunter Douglas Holding BV<sup>(c),(r)</sup>  | Hunter Douglas Holding BV<sup>(c),(r)</sup>  | Hunter Douglas Holding BV<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 3.250% <br>01/17/2032<br>| &nbsp;&nbsp; 7.549% | 269954 | &nbsp;&nbsp; 262363 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Opal US LLC<sup>(c),(m),(r)</sup>  | Opal US LLC<sup>(c),(m),(r)</sup>  | Opal US LLC<sup>(c),(m),(r)</sup>  | Opal US LLC<sup>(c),(m),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>03/31/2032<br>| &nbsp;&nbsp; 7.572% | 162689 | &nbsp;&nbsp; 161164 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **801307** |
| **Other Industry 0.0%** | **Other Industry 0.0%** | **Other Industry 0.0%** | **Other Industry 0.0%** |
| Artera Services LLC<sup>(c),(r)</sup>  | Artera Services LLC<sup>(c),(r)</sup>  | Artera Services LLC<sup>(c),(r)</sup>  | Artera Services LLC<sup>(c),(r)</sup>  |
| Tranche C 1st Lien Term Loan | Tranche C 1st Lien Term Loan | Tranche C 1st Lien Term Loan | Tranche C 1st Lien Term Loan |
| 3-month Term SOFR + 4.500% <br>02/15/2031<br>| &nbsp;&nbsp; 8.799% | 70474 | &nbsp;&nbsp; 66962 |
| Brand Industrial Services, Inc.<sup>(c),(r)</sup>  | Brand Industrial Services, Inc.<sup>(c),(r)</sup>  | Brand Industrial Services, Inc.<sup>(c),(r)</sup>  | Brand Industrial Services, Inc.<sup>(c),(r)</sup>  |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 3-month Term SOFR + 4.500% <br>Floor 0.500% <br>08/01/2030<br>| &nbsp;&nbsp; 8.791% | 16500 | &nbsp;&nbsp; 15224 |
| Catawba Nation Gaming Authority<sup>(c),(r)</sup>  | Catawba Nation Gaming Authority<sup>(c),(r)</sup>  | Catawba Nation Gaming Authority<sup>(c),(r)</sup>  | Catawba Nation Gaming Authority<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.750% <br>03/29/2032<br>| &nbsp;&nbsp; 9.053% | 145464 | &nbsp;&nbsp; 144252 |
| Grant Thornton Advisors LLC<sup>(c),(m),(r),(s)</sup>  | Grant Thornton Advisors LLC<sup>(c),(m),(r),(s)</sup>  | Grant Thornton Advisors LLC<sup>(c),(m),(r),(s)</sup>  | Grant Thornton Advisors LLC<sup>(c),(m),(r),(s)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>06/02/2031<br>| &nbsp;&nbsp; 1.000% | 6522 | &nbsp;&nbsp; 6464 |
| Grant Thornton Advisors LLC<sup>(c),(r)</sup>  | Grant Thornton Advisors LLC<sup>(c),(r)</sup>  | Grant Thornton Advisors LLC<sup>(c),(r)</sup>  | Grant Thornton Advisors LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>06/02/2031<br>| &nbsp;&nbsp; 7.072% | 53344 | &nbsp;&nbsp; 52869 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **285771** |
| **Other REIT 0.0%** | **Other REIT 0.0%** | **Other REIT 0.0%** | **Other REIT 0.0%** |
| OEG Borrower LLC<sup>(c),(r)</sup>  | OEG Borrower LLC<sup>(c),(r)</sup>  | OEG Borrower LLC<sup>(c),(r)</sup>  | OEG Borrower LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>06/30/2031<br>| &nbsp;&nbsp; 7.795% | 55278 | &nbsp;&nbsp; 54932 |
| **Packaging 0.0%** | **Packaging 0.0%** | **Packaging 0.0%** | **Packaging 0.0%** |
| Anchor Packaging LLC<sup>(c),(r)</sup>  | Anchor Packaging LLC<sup>(c),(r)</sup>  | Anchor Packaging LLC<sup>(c),(r)</sup>  | Anchor Packaging LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.250% <br>07/18/2029<br>| &nbsp;&nbsp; 7.579% | 168892 | &nbsp;&nbsp; 168386 |
| Charter Next Generation, Inc.<sup>(c),(r)</sup>  | Charter Next Generation, Inc.<sup>(c),(r)</sup>  | Charter Next Generation, Inc.<sup>(c),(r)</sup>  | Charter Next Generation, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.750% <br>11/29/2030<br>| &nbsp;&nbsp; 7.071% | 345490 | &nbsp;&nbsp; 344108 |
| Clydesdale Acquisition Holdings, Inc.<sup>(c),(r)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(c),(r)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(c),(r)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(c),(r)</sup>  |
| Tranche B 1st Lien Term Loan | Tranche B 1st Lien Term Loan | Tranche B 1st Lien Term Loan | Tranche B 1st Lien Term Loan |
| 1-month Term SOFR + 3.175% <br>Floor 0.500% <br>04/13/2029<br>| &nbsp;&nbsp; 7.497% | 298053 | &nbsp;&nbsp; 295781 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| LC Ahab US Bidco LLC<sup>(c),(r)</sup>  | LC Ahab US Bidco LLC<sup>(c),(r)</sup>  | LC Ahab US Bidco LLC<sup>(c),(r)</sup>  | LC Ahab US Bidco LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>05/01/2031<br>| &nbsp;&nbsp; 7.322% | 156626 | &nbsp;&nbsp; 151928 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **960203** |
| **Paper 0.0%** | **Paper 0.0%** | **Paper 0.0%** | **Paper 0.0%** |
| Verde Purchaser LLC<sup>(c),(r)</sup>  | Verde Purchaser LLC<sup>(c),(r)</sup>  | Verde Purchaser LLC<sup>(c),(r)</sup>  | Verde Purchaser LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.000% <br>11/30/2030<br>| &nbsp;&nbsp; 8.299% | 206988 | &nbsp;&nbsp; 204952 |
| **Property & Casualty 0.1%** | **Property & Casualty 0.1%** | **Property & Casualty 0.1%** | **Property & Casualty 0.1%** |
| Acrisure LLC<sup>(c),(r)</sup>  | Acrisure LLC<sup>(c),(r)</sup>  | Acrisure LLC<sup>(c),(r)</sup>  | Acrisure LLC<sup>(c),(r)</sup>  |
| Tranche B6 1st Lien Term Loan | Tranche B6 1st Lien Term Loan | Tranche B6 1st Lien Term Loan | Tranche B6 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>11/06/2030<br>| &nbsp;&nbsp; 7.322% | 145588 | &nbsp;&nbsp; 143678 |
| Alliant Holdings Intermediate LLC<sup>(c),(r)</sup>  | Alliant Holdings Intermediate LLC<sup>(c),(r)</sup>  | Alliant Holdings Intermediate LLC<sup>(c),(r)</sup>  | Alliant Holdings Intermediate LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>09/19/2031<br>| &nbsp;&nbsp; 7.073% | 187313 | &nbsp;&nbsp; 185868 |
| AssuredPartners, Inc.<sup>(c),(r)</sup>  | AssuredPartners, Inc.<sup>(c),(r)</sup>  | AssuredPartners, Inc.<sup>(c),(r)</sup>  | AssuredPartners, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.500% <br>Floor 0.500% <br>02/14/2031<br>| &nbsp;&nbsp; 7.822% | 297000 | &nbsp;&nbsp; 296923 |
| Asurion LLC<sup>(c),(r)</sup>  | Asurion LLC<sup>(c),(r)</sup>  | Asurion LLC<sup>(c),(r)</sup>  | Asurion LLC<sup>(c),(r)</sup>  |
| Tranche B12 1st Lien Term Loan | Tranche B12 1st Lien Term Loan | Tranche B12 1st Lien Term Loan | Tranche B12 1st Lien Term Loan |
| 1-month Term SOFR + 4.250% <br>09/19/2030<br>| &nbsp;&nbsp; 8.572% | 149250 | &nbsp;&nbsp; 142487 |
| Broadstreet Partners, Inc.<sup>(c),(r)</sup>  | Broadstreet Partners, Inc.<sup>(c),(r)</sup>  | Broadstreet Partners, Inc.<sup>(c),(r)</sup>  | Broadstreet Partners, Inc.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>06/13/2031<br>| &nbsp;&nbsp; 7.322% | 495506 | &nbsp;&nbsp; 492761 |
| Hub International Ltd.<sup>(c),(r)</sup>  | Hub International Ltd.<sup>(c),(r)</sup>  | Hub International Ltd.<sup>(c),(r)</sup>  | Hub International Ltd.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.500% <br>06/20/2030<br>| &nbsp;&nbsp; 6.769% | 297009 | &nbsp;&nbsp; 294901 |
| Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd.<sup>(c),(r)</sup>  | Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd.<sup>(c),(r)</sup>  | Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd.<sup>(c),(r)</sup>  | Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>07/31/2031<br>| &nbsp;&nbsp; 7.313% | 296996 | &nbsp;&nbsp; 295327 |
| Truist Insurance Holdings LLC<sup>(c),(r)</sup>  | Truist Insurance Holdings LLC<sup>(c),(r)</sup>  | Truist Insurance Holdings LLC<sup>(c),(r)</sup>  | Truist Insurance Holdings LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 2.750% <br>05/06/2031<br>| &nbsp;&nbsp; 7.049% | 218212 | &nbsp;&nbsp; 215576 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2067521** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Restaurants 0.0%** | **Restaurants 0.0%** | **Restaurants 0.0%** | **Restaurants 0.0%** |
| Dave & Busters, Inc.<sup>(c),(r)</sup>  | Dave & Busters, Inc.<sup>(c),(r)</sup>  | Dave & Busters, Inc.<sup>(c),(r)</sup>  | Dave & Busters, Inc.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>11/01/2031<br>| &nbsp;&nbsp; 7.563% | 185903 | &nbsp;&nbsp; 170973 |
| IRB Holding Corp.<sup>(c),(r)</sup>  | IRB Holding Corp.<sup>(c),(r)</sup>  | IRB Holding Corp.<sup>(c),(r)</sup>  | IRB Holding Corp.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>12/15/2027<br>| &nbsp;&nbsp; 6.822% | 297754 | &nbsp;&nbsp; 295264 |
| Whatabrands LLC<sup>(c),(r)</sup>  | Whatabrands LLC<sup>(c),(r)</sup>  | Whatabrands LLC<sup>(c),(r)</sup>  | Whatabrands LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>08/03/2028<br>| &nbsp;&nbsp; 6.822% | 395992 | &nbsp;&nbsp; 393351 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **859588** |
| **Retailers 0.0%** | **Retailers 0.0%** | **Retailers 0.0%** | **Retailers 0.0%** |
| Belron Finance 2019 LLC<sup>(c),(r)</sup>  | Belron Finance 2019 LLC<sup>(c),(r)</sup>  | Belron Finance 2019 LLC<sup>(c),(r)</sup>  | Belron Finance 2019 LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>Floor 0.500% <br>10/16/2031<br>| &nbsp;&nbsp; 7.052% | 119847 | &nbsp;&nbsp; 119364 |
| Great Outdoors Group LLC<sup>(c),(r)</sup>  | Great Outdoors Group LLC<sup>(c),(r)</sup>  | Great Outdoors Group LLC<sup>(c),(r)</sup>  | Great Outdoors Group LLC<sup>(c),(r)</sup>  |
| Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan |
| 1-month Term SOFR + 3.250% <br>Floor 0.750% <br>01/23/2032<br>| &nbsp;&nbsp; 7.572% | 345553 | &nbsp;&nbsp; 337174 |
| Harbor Freight Tools USA, Inc.<sup>(c),(r)</sup>  | Harbor Freight Tools USA, Inc.<sup>(c),(r)</sup>  | Harbor Freight Tools USA, Inc.<sup>(c),(r)</sup>  | Harbor Freight Tools USA, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>06/11/2031<br>| &nbsp;&nbsp; 6.822% | 58972 | &nbsp;&nbsp; 54723 |
| PetSmart LLC<sup>(c),(r)</sup>  | PetSmart LLC<sup>(c),(r)</sup>  | PetSmart LLC<sup>(c),(r)</sup>  | PetSmart LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.750% <br>Floor 0.750% <br>02/11/2028<br>| &nbsp;&nbsp; 8.172% | 296164 | &nbsp;&nbsp; 291351 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **802612** |
| **Technology 0.3%** | **Technology 0.3%** | **Technology 0.3%** | **Technology 0.3%** |
| Adeia, Inc.<sup>(c),(r)</sup>  | Adeia, Inc.<sup>(c),(r)</sup>  | Adeia, Inc.<sup>(c),(r)</sup>  | Adeia, Inc.<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>06/08/2028<br>| &nbsp;&nbsp; 6.822% | 234509 | &nbsp;&nbsp; 232163 |
| Ahead DB Holdings LLC<sup>(c),(r)</sup>  | Ahead DB Holdings LLC<sup>(c),(r)</sup>  | Ahead DB Holdings LLC<sup>(c),(r)</sup>  | Ahead DB Holdings LLC<sup>(c),(r)</sup>  |
| Tranche B4 1st Lien Term Loan | Tranche B4 1st Lien Term Loan | Tranche B4 1st Lien Term Loan | Tranche B4 1st Lien Term Loan |
| 3-month Term SOFR + 3.000% <br>Floor 0.750% <br>02/03/2031<br>| &nbsp;&nbsp; 7.299% | 149248 | &nbsp;&nbsp; 148012 |
| Applied Systems, Inc.<sup>(c),(r)</sup>  | Applied Systems, Inc.<sup>(c),(r)</sup>  | Applied Systems, Inc.<sup>(c),(r)</sup>  | Applied Systems, Inc.<sup>(c),(r)</sup>  |
| Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan | Tranche B1 1st Lien Term Loan |
| 3-month Term SOFR + 2.750% <br>02/24/2031<br>| &nbsp;&nbsp; 7.049% | 149250 | &nbsp;&nbsp; 148835 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Ascend Learning LLC<sup>(c),(r)</sup>  | Ascend Learning LLC<sup>(c),(r)</sup>  | Ascend Learning LLC<sup>(c),(r)</sup>  | Ascend Learning LLC<sup>(c),(r)</sup>  |
| 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan |
| 1-month Term SOFR + 5.750% <br>Floor 0.500% <br>12/10/2029<br>| &nbsp;&nbsp; 10.172% | 158927 | &nbsp;&nbsp; 155699 |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>Floor 0.500% <br>12/11/2028<br>| &nbsp;&nbsp; 7.322% | 737593 | &nbsp;&nbsp; 728107 |
| athenahealth Group, Inc.<sup>(c),(r)</sup>  | athenahealth Group, Inc.<sup>(c),(r)</sup>  | athenahealth Group, Inc.<sup>(c),(r)</sup>  | athenahealth Group, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>Floor 0.500% <br>02/15/2029<br>| &nbsp;&nbsp; 7.322% | 296954 | &nbsp;&nbsp; 294032 |
| Barracuda Parent LLC<sup>(c),(r)</sup>  | Barracuda Parent LLC<sup>(c),(r)</sup>  | Barracuda Parent LLC<sup>(c),(r)</sup>  | Barracuda Parent LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 4.500% <br>Floor 0.500% <br>08/15/2029<br>| &nbsp;&nbsp; 8.780% | 296212 | &nbsp;&nbsp; 245385 |
| BCPE Pequod Buyer, Inc.<sup>(c),(r)</sup>  | BCPE Pequod Buyer, Inc.<sup>(c),(r)</sup>  | BCPE Pequod Buyer, Inc.<sup>(c),(r)</sup>  | BCPE Pequod Buyer, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.500% <br>11/25/2031<br>| &nbsp;&nbsp; 7.822% | 109391 | &nbsp;&nbsp; 109004 |
| Boost Newco Borrower LLC<sup>(c),(r)</sup>  | Boost Newco Borrower LLC<sup>(c),(r)</sup>  | Boost Newco Borrower LLC<sup>(c),(r)</sup>  | Boost Newco Borrower LLC<sup>(c),(r)</sup>  |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 3-month Term SOFR + 2.000% <br>01/31/2031<br>| &nbsp;&nbsp; 6.299% | 299250 | &nbsp;&nbsp; 298502 |
| Boxer Parent Co., Inc.<sup>(c),(r)</sup>  | Boxer Parent Co., Inc.<sup>(c),(r)</sup>  | Boxer Parent Co., Inc.<sup>(c),(r)</sup>  | Boxer Parent Co., Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>07/30/2031<br>| &nbsp;&nbsp; 7.322% | 116667 | &nbsp;&nbsp; 114200 |
| Camelot US Acquisition LLC<sup>(c),(r)</sup>  | Camelot US Acquisition LLC<sup>(c),(r)</sup>  | Camelot US Acquisition LLC<sup>(c),(r)</sup>  | Camelot US Acquisition LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>01/31/2031<br>| &nbsp;&nbsp; 7.072% | 128965 | &nbsp;&nbsp; 127138 |
| Central Parent LLC<sup>(c),(r)</sup>  | Central Parent LLC<sup>(c),(r)</sup>  | Central Parent LLC<sup>(c),(r)</sup>  | Central Parent LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.250% <br>07/06/2029<br>| &nbsp;&nbsp; 7.549% | 348250 | &nbsp;&nbsp; 289389 |
| Cloud Software Group, Inc.<sup>(c),(r)</sup>  | Cloud Software Group, Inc.<sup>(c),(r)</sup>  | Cloud Software Group, Inc.<sup>(c),(r)</sup>  | Cloud Software Group, Inc.<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 3.500% <br>Floor 0.500% <br>03/29/2029<br>| &nbsp;&nbsp; 7.799% | 294823 | &nbsp;&nbsp; 291070 |
| Cloudera, Inc.<sup>(c),(r)</sup>  | Cloudera, Inc.<sup>(c),(r)</sup>  | Cloudera, Inc.<sup>(c),(r)</sup>  | Cloudera, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.750% <br>Floor 0.500% <br>10/08/2028<br>| &nbsp;&nbsp; 8.172% | 295420 | &nbsp;&nbsp; 290067 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| CoreLogic, Inc.<sup>(c),(r)</sup>  | CoreLogic, Inc.<sup>(c),(r)</sup>  | CoreLogic, Inc.<sup>(c),(r)</sup>  | CoreLogic, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.500% <br>Floor 0.500% <br>06/02/2028<br>| &nbsp;&nbsp; 7.936% | 249354 | &nbsp;&nbsp; 245614 |
| Cotiviti, Inc.<sup>(c),(r)</sup>  | Cotiviti, Inc.<sup>(c),(r)</sup>  | Cotiviti, Inc.<sup>(c),(r)</sup>  | Cotiviti, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>05/01/2031<br>| &nbsp;&nbsp; 7.074% | 297007 | &nbsp;&nbsp; 290325 |
| Dun & Bradstreet Corp. (The)<sup>(c),(r)</sup>  | Dun & Bradstreet Corp. (The)<sup>(c),(r)</sup>  | Dun & Bradstreet Corp. (The)<sup>(c),(r)</sup>  | Dun & Bradstreet Corp. (The)<sup>(c),(r)</sup>  |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 1-month Term SOFR + 2.250% <br>01/18/2029<br>| &nbsp;&nbsp; 6.570% | 297000 | &nbsp;&nbsp; 295746 |
| Ellucian Holdings, Inc.<sup>(c),(r)</sup>  | Ellucian Holdings, Inc.<sup>(c),(r)</sup>  | Ellucian Holdings, Inc.<sup>(c),(r)</sup>  | Ellucian Holdings, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>10/09/2029<br>| &nbsp;&nbsp; 7.322% | 241532 | &nbsp;&nbsp; 240281 |
| Flash Charm, Inc.<sup>(c),(r)</sup>  | Flash Charm, Inc.<sup>(c),(r)</sup>  | Flash Charm, Inc.<sup>(c),(r)</sup>  | Flash Charm, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.500% <br>Floor 0.750% <br>03/02/2028<br>| &nbsp;&nbsp; 7.791% | 296985 | &nbsp;&nbsp; 268958 |
| Fortress Intermediate 3, Inc.<sup>(c),(r)</sup>  | Fortress Intermediate 3, Inc.<sup>(c),(r)</sup>  | Fortress Intermediate 3, Inc.<sup>(c),(r)</sup>  | Fortress Intermediate 3, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.750% <br>06/27/2031<br>| &nbsp;&nbsp; 8.072% | 149250 | &nbsp;&nbsp; 145892 |
| Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(c),(r)</sup>  | Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(c),(r)</sup>  | Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(c),(r)</sup>  | Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>07/18/2030<br>| &nbsp;&nbsp; 7.799% | 157846 | &nbsp;&nbsp; 155163 |
| ICON Parent I, Inc.<sup>(c),(r)</sup>  | ICON Parent I, Inc.<sup>(c),(r)</sup>  | ICON Parent I, Inc.<sup>(c),(r)</sup>  | ICON Parent I, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.000% <br>11/13/2031<br>| &nbsp;&nbsp; 7.315% | 67809 | &nbsp;&nbsp; 67365 |
| Idemia Group SAS<sup>(c),(r)</sup>  | Idemia Group SAS<sup>(c),(r)</sup>  | Idemia Group SAS<sup>(c),(r)</sup>  | Idemia Group SAS<sup>(c),(r)</sup>  |
| Tranche B5 Term Loan | Tranche B5 Term Loan | Tranche B5 Term Loan | Tranche B5 Term Loan |
| 3-month Term SOFR + 4.250% <br>Floor 0.750% <br>09/30/2028<br>| &nbsp;&nbsp; 8.549% | 297000 | &nbsp;&nbsp; 295515 |
| IGT Holding IV AB<sup>(c),(r)</sup>  | IGT Holding IV AB<sup>(c),(r)</sup>  | IGT Holding IV AB<sup>(c),(r)</sup>  | IGT Holding IV AB<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>09/01/2031<br>| &nbsp;&nbsp; 7.782% | 296144 | &nbsp;&nbsp; 296144 |
| Informatica LLC<sup>(c),(r)</sup>  | Informatica LLC<sup>(c),(r)</sup>  | Informatica LLC<sup>(c),(r)</sup>  | Informatica LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.250% <br>10/27/2028<br>| &nbsp;&nbsp; 6.572% | 250000 | &nbsp;&nbsp; 249375 |
| Ingram Micro, Inc.<sup>(c),(r)</sup>  | Ingram Micro, Inc.<sup>(c),(r)</sup>  | Ingram Micro, Inc.<sup>(c),(r)</sup>  | Ingram Micro, Inc.<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 2.750% <br>09/22/2031<br>| &nbsp;&nbsp; 7.053% | 164362 | &nbsp;&nbsp; 164157 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Leia Finco US LLC<sup>(c),(r)</sup>  | Leia Finco US LLC<sup>(c),(r)</sup>  | Leia Finco US LLC<sup>(c),(r)</sup>  | Leia Finco US LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.250% <br>10/09/2031<br>| &nbsp;&nbsp; 7.458% | 241667 | &nbsp;&nbsp; 239922 |
| Lummus Technology Holdings V LLC<sup>(c),(r)</sup>  | Lummus Technology Holdings V LLC<sup>(c),(r)</sup>  | Lummus Technology Holdings V LLC<sup>(c),(r)</sup>  | Lummus Technology Holdings V LLC<sup>(c),(r)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>12/31/2029<br>| &nbsp;&nbsp; 7.322% | 169375 | &nbsp;&nbsp; 168899 |
| McAfee Corp.<sup>(c),(r)</sup>  | McAfee Corp.<sup>(c),(r)</sup>  | McAfee Corp.<sup>(c),(r)</sup>  | McAfee Corp.<sup>(c),(r)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 1-month Term SOFR + 3.000% <br>03/01/2029<br>| &nbsp;&nbsp; 7.329% | 297744 | &nbsp;&nbsp; 278763 |
| Mitchell International, Inc.<sup>(c),(r)</sup>  | Mitchell International, Inc.<sup>(c),(r)</sup>  | Mitchell International, Inc.<sup>(c),(r)</sup>  | Mitchell International, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.250% <br>06/17/2031<br>| &nbsp;&nbsp; 7.572% | 250808 | &nbsp;&nbsp; 247141 |
| Nielsen Consumer, Inc.<sup>(c),(r)</sup>  | Nielsen Consumer, Inc.<sup>(c),(r)</sup>  | Nielsen Consumer, Inc.<sup>(c),(r)</sup>  | Nielsen Consumer, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.500% <br>03/06/2028<br>| &nbsp;&nbsp; 7.822% | 149625 | &nbsp;&nbsp; 149064 |
| Peraton Corp.<sup>(c),(r)</sup>  | Peraton Corp.<sup>(c),(r)</sup>  | Peraton Corp.<sup>(c),(r)</sup>  | Peraton Corp.<sup>(c),(r)</sup>  |
| Tranche B 1st Lien Term Loan | Tranche B 1st Lien Term Loan | Tranche B 1st Lien Term Loan | Tranche B 1st Lien Term Loan |
| 1-month Term SOFR + 3.750% <br>Floor 0.750% <br>02/01/2028<br>| &nbsp;&nbsp; 8.172% | 236138 | &nbsp;&nbsp; 212566 |
| PointClickCare Technologies, Inc.<sup>(c),(r)</sup>  | PointClickCare Technologies, Inc.<sup>(c),(r)</sup>  | PointClickCare Technologies, Inc.<sup>(c),(r)</sup>  | PointClickCare Technologies, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>11/03/2031<br>| &nbsp;&nbsp; 7.549% | 200000 | &nbsp;&nbsp; 199500 |
| Project Boost Purchaser LLC<sup>(c),(r)</sup>  | Project Boost Purchaser LLC<sup>(c),(r)</sup>  | Project Boost Purchaser LLC<sup>(c),(r)</sup>  | Project Boost Purchaser LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.000% <br>07/16/2031<br>| &nbsp;&nbsp; 7.299% | 179581 | &nbsp;&nbsp; 177760 |
| Proofpoint, Inc.<sup>(c),(r)</sup>  | Proofpoint, Inc.<sup>(c),(r)</sup>  | Proofpoint, Inc.<sup>(c),(r)</sup>  | Proofpoint, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>Floor 0.500% <br>08/31/2028<br>| &nbsp;&nbsp; 7.322% | 308816 | &nbsp;&nbsp; 306809 |
| Sophos Holdings SARL<sup>(c),(r)</sup>  | Sophos Holdings SARL<sup>(c),(r)</sup>  | Sophos Holdings SARL<sup>(c),(r)</sup>  | Sophos Holdings SARL<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.500% <br>03/05/2027<br>| &nbsp;&nbsp; 7.935% | 56103 | &nbsp;&nbsp; 56015 |
| Sovos Compliance, LLC<sup>(c),(r)</sup>  | Sovos Compliance, LLC<sup>(c),(r)</sup>  | Sovos Compliance, LLC<sup>(c),(r)</sup>  | Sovos Compliance, LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 4.000% <br>08/13/2029<br>| &nbsp;&nbsp; 8.322% | 296199 | &nbsp;&nbsp; 294718 |
| Storable, Inc.<sup>(c),(r)</sup>  | Storable, Inc.<sup>(c),(r)</sup>  | Storable, Inc.<sup>(c),(r)</sup>  | Storable, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.250% <br>04/16/2031<br>| &nbsp;&nbsp; 7.572% | 57277 | &nbsp;&nbsp; 57062 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| UKG, Inc.<sup>(c),(r)</sup>  | UKG, Inc.<sup>(c),(r)</sup>  | UKG, Inc.<sup>(c),(r)</sup>  | UKG, Inc.<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>02/10/2031<br>| &nbsp;&nbsp; 7.320% | 312673 | &nbsp;&nbsp; 311438 |
| Ultra Clean Holdings, Inc.<sup>(c),(r)</sup>  | Ultra Clean Holdings, Inc.<sup>(c),(r)</sup>  | Ultra Clean Holdings, Inc.<sup>(c),(r)</sup>  | Ultra Clean Holdings, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>02/25/2028<br>| &nbsp;&nbsp; 7.572% | 119625 | &nbsp;&nbsp; 118804 |
| Virtusa Corp.<sup>(c),(r)</sup>  | Virtusa Corp.<sup>(c),(r)</sup>  | Virtusa Corp.<sup>(c),(r)</sup>  | Virtusa Corp.<sup>(c),(r)</sup>  |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 1-month Term SOFR + 3.250% <br>Floor 0.750% <br>02/15/2029<br>| &nbsp;&nbsp; 7.572% | 155318 | &nbsp;&nbsp; 154703 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9159302** |
| **Tobacco 0.0%** | **Tobacco 0.0%** | **Tobacco 0.0%** | **Tobacco 0.0%** |
| Red SPV LLC<sup>(c),(r)</sup>  | Red SPV LLC<sup>(c),(r)</sup>  | Red SPV LLC<sup>(c),(r)</sup>  | Red SPV LLC<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>03/15/2032<br>| &nbsp;&nbsp; 6.579% | 52500 | &nbsp;&nbsp; 52172 |
| **Transportation Services 0.0%** | **Transportation Services 0.0%** | **Transportation Services 0.0%** | **Transportation Services 0.0%** |
| Apple Bidco LLC<sup>(c),(r)</sup>  | Apple Bidco LLC<sup>(c),(r)</sup>  | Apple Bidco LLC<sup>(c),(r)</sup>  | Apple Bidco LLC<sup>(c),(r)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.500% <br>09/23/2031<br>| &nbsp;&nbsp; 6.822% | 149148 | &nbsp;&nbsp; 147151 |
| Brown Group Holding LLC<sup>(c),(r)</sup>  | Brown Group Holding LLC<sup>(c),(r)</sup>  | Brown Group Holding LLC<sup>(c),(r)</sup>  | Brown Group Holding LLC<sup>(c),(r)</sup>  |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 3-month Term SOFR + 2.500% <br>Floor 0.500% <br>07/01/2031<br>| &nbsp;&nbsp; 6.800% | 297754 | &nbsp;&nbsp; 294437 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **441588** |
| **Wireless 0.0%** | **Wireless 0.0%** | **Wireless 0.0%** | **Wireless 0.0%** |
| Crown Subsea Communications Holding, Inc.<sup>(c),(r)</sup>  | Crown Subsea Communications Holding, Inc.<sup>(c),(r)</sup>  | Crown Subsea Communications Holding, Inc.<sup>(c),(r)</sup>  | Crown Subsea Communications Holding, Inc.<sup>(c),(r)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.000% <br>Floor 0.750% <br>01/30/2031<br>| &nbsp;&nbsp; 8.324% | 297750 | &nbsp;&nbsp; 297155 |
| Total Senior Loans <br>(Cost $41,625,329) | Total Senior Loans <br>(Cost $41,625,329) | Total Senior Loans <br>(Cost $41,625,329) | &nbsp;&nbsp; **40771829** |
| **U.S. Treasury Obligations 0.2%** | **U.S. Treasury Obligations 0.2%** | **U.S. Treasury Obligations 0.2%** | **U.S. Treasury Obligations 0.2%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| U.S. Treasury | U.S. Treasury | U.S. Treasury | U.S. Treasury |
| 03/31/2028 | &nbsp;&nbsp; 1.250% | 3500000 | &nbsp;&nbsp; 3275234 |
| 07/31/2028 | &nbsp;&nbsp; 1.000% | 3500000 | &nbsp;&nbsp; 3222461 |
| Total U.S. Treasury Obligations <br>(Cost $6,337,323) | Total U.S. Treasury Obligations <br>(Cost $6,337,323) | Total U.S. Treasury Obligations <br>(Cost $6,337,323) | &nbsp;&nbsp; **6497695** |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | |
|:---|:---|
| **Call Option Contracts Purchased 0.3%** | **Call Option Contracts Purchased 0.3%** |
|  | **Value ($)** |
| (Cost $8,146,411) | &nbsp;&nbsp; **7735694** |
| **Put Option Contracts Purchased 0.1%** | **Put Option Contracts Purchased 0.1%** |
| (Cost $3,037,525) | &nbsp;&nbsp; **2229156** |

---

---

| | | |
|:---|:---|:---|
| **Money Market Funds 4.5%** | **Money Market Funds 4.5%** | **Money Market Funds 4.5%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 4.503%<sup>(t),(u)</sup> <br>| &nbsp;&nbsp; 124310346 | &nbsp;&nbsp; 124273053 |
| Total Money Market Funds <br>(Cost $124,251,617) | Total Money Market Funds <br>(Cost $124,251,617) | &nbsp;&nbsp; **124273053** |
| **Total Investments in Securities** <br>**(Cost: $3,292,705,568)** | **Total Investments in Securities** <br>**(Cost: $3,292,705,568)** | &nbsp;&nbsp; **3200083876** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(453356557)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **2746727319** |

---

At April 30, 2025, securities and/or cash totaling $34,177,144 were pledged as collateral.

**Investments in derivatives** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long futures contracts** | **Long 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 10-Year Note | 3234 | 06/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 362915438 | &nbsp;&nbsp;&nbsp;&nbsp; 5735155 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 2-Year Note | 900 | 06/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 187333594 | &nbsp;&nbsp;&nbsp;&nbsp; 2044388 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 5-Year Note | 2189 | 06/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 239028540 | &nbsp;&nbsp;&nbsp;&nbsp; 2935028 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury Ultra Bond | 627 | 06/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 75886594 | &nbsp;&nbsp;&nbsp;&nbsp; 811759 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11526330 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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. Long Bond | (446) | 06/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (52014750)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (791823)<br>|
| U.S. Treasury Ultra 10-Year Note | (1249) | 06/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (143303234)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2246945)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3038768)<br>|

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** | **Call option contracts purchased** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Number of** <br>**contracts**<br>| **Exercise** <br>**price/Rate**<br>| **Expiration** <br>**date**<br>| **Cost ($)** | **Value ($)** |
| 10-Year OTC interest rate swap with <br> Citi to receive exercise rate and pay <br> SOFR<br>| Citi | USD | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 | 3.60 | &nbsp;&nbsp; 05/08/2025 | &nbsp;&nbsp; 1190000 | &nbsp;&nbsp; 289366 |
| 10-Year OTC interest rate swap with <br> Citi to receive exercise rate and pay <br> SOFR<br>| Citi | USD | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 | 3.70 | &nbsp;&nbsp; 06/12/2025 | &nbsp;&nbsp; 1990000 | &nbsp;&nbsp; 1506360 |
| 10-Year OTC interest rate swap with <br> Citi to receive exercise rate and pay <br> SOFR<br>| Citi | USD | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 | 3.80 | &nbsp;&nbsp; 09/12/2025 | &nbsp;&nbsp; 1062500 | &nbsp;&nbsp; 1436950 |
| 10-Year OTC interest rate swap with <br> Citi to receive exercise rate and pay <br> SOFR<br>| Citi | USD | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 | 3.80 | &nbsp;&nbsp; 10/14/2025 | &nbsp;&nbsp; 1055000 | &nbsp;&nbsp; 1533445 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** | **Call option contracts purchased (continued)** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading**<br> **currency**<br>| **Notional**<br> **amount**<br>| **Number of**<br> **contracts**<br>| **Exercise**<br> **price/Rate**<br>| **Expiration**<br> **date**<br>| **Cost ($)** | **Value ($)** |
| 10-Year OTC interest rate swap with <br> Goldman Sachs International to <br> receive exercise rate and pay SOFR<br>| Goldman Sachs International | USD | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 | 3.25 | &nbsp;&nbsp; 08/19/2025 | &nbsp;&nbsp; 766250 | &nbsp;&nbsp; 182450 |
| 30-Year OTC interest rate swap with <br> Citi to receive exercise rate and pay <br> SOFR<br>| Citi | USD | &nbsp;&nbsp; 30258400 | &nbsp;&nbsp; 30258400 | 3.80 | &nbsp;&nbsp; 10/29/2025 | &nbsp;&nbsp; 1482661 | &nbsp;&nbsp; 1442948 |
| 5-Year OTC interest rate swap with Citi <br> to receive exercise rate and pay <br> SOFR<br>| Citi | USD | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 | 3.90 | &nbsp;&nbsp; 07/02/2025 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 1344175 |
| Total |  |  |  |  |  |  | &nbsp;&nbsp; 8146411 | &nbsp;&nbsp; 7735694 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** | **Put option contracts purchased** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Number of** <br>**contracts**<br>| **Exercise** <br>**price/Rate**<br>| **Expiration** <br>**date**<br>| **Cost ($)** | **Value ($)** |
| 5-Year OTC interest rate swap with Citi <br> to receive SOFR and pay exercise <br> rate<br>| Citi | USD | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp; 120000000 | 4.05 | &nbsp;&nbsp; 09/05/2025 | &nbsp;&nbsp; 948000 | &nbsp;&nbsp; 316800 |
| 5-Year OTC interest rate swap with <br> Goldman Sachs International to <br> receive SOFR and pay exercise rate<br>| Goldman Sachs International | USD | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 65000000 | 3.50 | &nbsp;&nbsp; 10/03/2025 | &nbsp;&nbsp; 763750 | &nbsp;&nbsp; 659646 |
| 5-Year OTC interest rate swap with <br> Morgan Stanley to receive SOFR <br> and pay exercise rate<br>| Morgan Stanley | USD | &nbsp;&nbsp; 122756917 | &nbsp;&nbsp; 122756917 | 3.50 | &nbsp;&nbsp; 10/06/2025 | &nbsp;&nbsp; 1325775 | &nbsp;&nbsp; 1252710 |
| Total |  |  |  |  |  |  | &nbsp;&nbsp; 3037525 | &nbsp;&nbsp; 2229156 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** | **Call option contracts written** |
| **Description** | **Counterparty** | &nbsp;&nbsp; **Trading** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Number of** <br>**contracts**<br>| **Exercise** <br>**price/Rate**<br>| **Expiration** <br>**date**<br>| **Premium** <br>**received ($)**<br>| **Value ($)** |
| 2-Year OTC interest rate swap with Citi to receive <br> SOFR and pay exercise rate<br>| Citi | USD | &nbsp;&nbsp; (316682000)<br>| &nbsp;&nbsp; (316682000)<br>| 3.25 | &nbsp;&nbsp; 07/29/2025 | &nbsp;&nbsp; (1399734)<br>| &nbsp;&nbsp; (1579040)<br>|

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** | **Credit default swap contracts - buy protection** |
| **Reference** <br>**entity**<br>| **Counterparty** | **Maturity** <br>**date**<br>| **Pay** <br>**fixed** <br>**rate** <br>**(%)**<br>| **Payment** <br>**frequency**<br>| **Notional** <br>**currency**<br>| **Notional** <br>**amount**<br>| **Value** <br>**($)**<br>| **Periodic** <br>**payments** <br>**receivable** <br>**(payable)** <br>**($)**<br>| **Upfront** <br>**payments** <br>**($)**<br>| **Upfront** <br>**receipts** <br>**($)**<br>| **Unrealized** <br>**appreciation** <br>**($)**<br>| **Unrealized** <br>**depreciation** <br>**($)**<br>|
| CMBX North America Index, <br> Series 11 BBB-<br>| Citi | 11/18/2054 | 3.000 | Monthly | USD | 5000000 | 659210 | (2500)<br>| 660072 |  |  | (3362)<br>|
| CMBX North America Index, <br> Series 11 BBB-<br>| Citi | 11/18/2054 | 3.000 | Monthly | USD | 7000000 | 922895 | (3500)<br>| 1662712 |  |  | (743317)<br>|
| CMBX North America Index, <br> Series 12 BBB-<br>| Citi | 08/17/2061 | 3.000 | Monthly | USD | 5800000 | 1198750 | (2900)<br>| 1505870 |  |  | (310020)<br>|
| CMBX North America Index, <br> Series 11 BBB-<br>| Goldman Sachs International | 11/18/2054 | 3.000 | Monthly | USD | 1700000 | 224132 | (850)<br>| 242178 |  |  | (18896)<br>|
| CMBX North America Index, <br> Series 10 BBB-<br>| JPMorgan | 11/17/2059 | 3.000 | Monthly | USD | 8000000 | 1624254 | (4000)<br>| 305101 |  | 1315153 |  |
| CMBX North America Index, <br> Series 11 BBB-<br>| JPMorgan | 11/18/2054 | 3.000 | Monthly | USD | 1700000 | 224131 | (850)<br>| 53542 |  | 169739 |  |
| CMBX North America Index, <br> Series 10 BBB-<br>| Morgan Stanley | 11/17/2059 | 3.000 | Monthly | USD | 1000000 | 203032 | (500)<br>| 54556 |  | 147976 |  |
| CMBX North America Index, <br> Series 16 BBB-<br>| Morgan Stanley | 04/17/2065 | 3.000 | Monthly | USD | 5780000 | 1092918 | (2890)<br>| 1288310 |  |  | (198282)<br>|
| Total |  |  |  |  |  |  | 6149322 | (17990)<br>| 5772341 |  | 1632868 | (1273877)<br>|

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** | **Credit default swap contracts - sell protection** |
| **Reference** <br>**entity**<br>| **Counterparty** | **Maturity** <br>**date**<br>| **Receive** <br>**fixed** <br>**rate** <br>**(%)**<br>| **Payment** <br>**frequency**<br>| **Implied** <br>**credit** <br>**spread** <br>**(%)\***<br>| **Notional** <br>**currency**<br>| **Notional** <br>**amount** <br>| **Value** <br>**($)**<br>| **Periodic** <br>**payments** <br>**receivable** <br>**(payable)** <br>**($)**<br>| **Upfront** <br>**payments** <br>**($)**<br>| **Upfront** <br>**receipts** <br>**($)**<br>| **Unrealized** <br>**appreciation** <br>**($)**<br>| **Unrealized** <br>**depreciation** <br>**($)**<br>|
| CMBX North America <br> Index, Series 10 BBB-<br>| Citi | 11/17/2059 | 3.000 | Monthly | 19.893 | USD | 7000000 | (1421223)<br>| 3500 |  | (784958)<br>|  | (632765)<br>|
| CMBX North America <br> Index, Series 17 BBB-<br>| Goldman Sachs <br> International<br>| 12/15/2056 | 3.000 | Monthly | 6.298 | USD | 5000000 | (776769)<br>| 2500 |  | (756601)<br>|  | (17668)<br>|
| CMBX North America <br> Index, Series 17 BBB-<br>| Goldman Sachs <br> International<br>| 12/15/2056 | 3.000 | Monthly | 6.298 | USD | 14000000 | (2174953)<br>| 7000 |  | (2122455)<br>|  | (45498)<br>|
| CMBX North America <br> Index, Series 10 BBB-<br>| JPMorgan | 11/17/2059 | 3.000 | Monthly | 19.893 | USD | 5000000 | (1015159)<br>| 2500 |  | (1011998)<br>|  | (661)<br>|
| CMBX North America <br> Index, Series 10 BBB-<br>| JPMorgan | 11/17/2059 | 3.000 | Monthly | 19.893 | USD | 5000000 | (1015159)<br>| 2500 |  | (783928)<br>|  | (228731)<br>|
| CMBX North America <br> Index, Series 8 BBB-<br>| Morgan Stanley | 10/17/2057 | 3.000 | Monthly | 36.109 | USD | 5533363 | (1172195)<br>| 2767 |  | (1062049)<br>|  | (107379)<br>|
| Total |  |  |  |  |  |  |  | (7575458)<br>| 20767 |  | (6521989)<br>|  | (1032702)<br>|

---

\* Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** | **Cleared credit default swap contracts - sell protection** |
| **Reference** <br>**entity**<br>| **Counterparty** | **Maturity** <br>**date**<br>| **Receive** <br>**fixed** <br>**rate** <br>**(%)**<br>| **Payment** <br>**frequency**<br>| **Implied** <br>**credit** <br>**spread** <br>**(%)\***<br>| **Notional** <br>**currency**<br>| **Notional** <br>**amount** <br>| **Value** <br>**($)**<br>| **Upfront** <br>**payments** <br>**($)**<br>| **Upfront** <br>**receipts** <br>**($)**<br>| **Unrealized** <br>**appreciation** <br>**($)**<br>| **Unrealized** <br>**depreciation** <br>**($)**<br>|
| CDX North America High Yield <br> Index, Series 44<br>| Morgan Stanley | 06/20/2030 | 5.000 | Quarterly | 4.152 | USD | 28000000 | 432829 |  |  | 432829 |  |

---

\* Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

**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 April 30, 2025, the total value of these securities amounted
 to $1,254,368,533, which represents 45.67% of total net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) Variable rate security. The interest rate shown was the current rate as of April 30,
 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Security represents a pool of loans that generate cash payments generally over fixed
 periods of time. Such securities entitle the security holders to receive distributions
 (i.e. principal and interest, net of fees and expenses) that are tied to the payments made
 by the borrower on the underlying loans. Due to the structure of the security the
 cash payments received are not known until the time of payment. The interest rate shown
 is the stated coupon rate as of April 30, 2025 and is not reflective of the cash flow
 payments.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Represents a security purchased on a when-issued basis.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Variable or floating rate security, the interest rate of which adjusts periodically
 based on changes in current interest rates and prepayments on the underlying pool
 of assets. The interest rate shown was the current rate as of April 30, 2025.

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

&nbsp;&nbsp;&nbsp;&nbsp;(h) Payment-in-kind security. Interest can be paid by issuing additional par of the security
 or in cash.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Represents a variable rate security with a step coupon where the rate adjusts according
 to a schedule for a series of periods, typically lower for an initial period and then
 increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as
 of April 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Represents fair value as determined in good faith under procedures approved by the
 Board of Trustees. At April 30, 2025, the total value of these securities amounted
 to $41,069, which represents less than 0.01% of total net assets.

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(l) Perpetual security with no specified maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Represents a security purchased on a forward commitment basis.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Principal and interest may not be guaranteed by a governmental entity.

&nbsp;&nbsp;&nbsp;&nbsp;(o) Includes comparable securities held to satisfy future delivery requirements of the
 following open forward sale commitments at April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security description** | **Principal** <br>**amount ($)**<br>| &nbsp;&nbsp;&nbsp; **Settlement** <br>**date**<br>| &nbsp;&nbsp;&nbsp; **Proceeds** <br>**receivable ($)**<br>| **Value ($)** |
| Uniform Mortgage-Backed Security TBA |  |  |  |  |
| 05/13/2055 3.000% | (43000000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 05/13/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (37011914)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (37311195)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;(p) Represents interest only securities which have the right to receive the monthly interest
 payments on an underlying pool of mortgage loans.

&nbsp;&nbsp;&nbsp;&nbsp;(q) This security or a portion of this security has been pledged as collateral in connection
 with derivative contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(r) The stated interest rate represents the weighted average interest rate at April 30,
 2025 of contracts within the senior loan facility. Interest rates on contracts are
 primarily determined either weekly, monthly or quarterly by reference to the indicated base
 lending rate and spread and the reset period. Base lending rates may be subject to
 a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed
 delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers
 to repay at their election. The degree to which borrowers repay cannot be predicted
 with accuracy. As a result, remaining maturities of senior loans may be less than the stated
 maturities. Generally, the Fund is contractually obligated to receive approval from
 the agent bank and/or borrower prior to the disposition of a senior loan.

&nbsp;&nbsp;&nbsp;&nbsp;(s) At April 30, 2025, the Fund had unfunded senior loan commitments pursuant to the terms
 of the loan agreement. The Fund receives a stated coupon rate until the borrower draws on the loan commitment, at which time the rate will become the stated rate in the
 loan agreement.

---

| | |
|:---|:---|
| **Borrower** | **Unfunded Commitment ($)** |
| AmSpec Parent LLC <br>Delayed Draw Term Loan <br>12/22/2031 1.000%<br>| 20000 |
| Grant Thornton Advisors LLC <br>Term Loan <br>06/02/2031 1.000%<br>| 6522 |
| June Purchaser LLC <br>Delayed Draw Term Loan <br>11/28/2031 1.625%<br>| 19286 |
| Raven Acquisition Holdings LLC <br>Delayed Draw Term Loan <br>11/19/2031 3.250%<br>| 11650 |
| USALCO LLC <br>Delayed Draw Term Loan <br>09/30/2031 1.000%<br>| 5806 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(t) The rate shown is the seven-day current annualized yield at April 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(u) Under Section 2(a)(3) of 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 year ended April
 30, 2025 are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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, 4.503% | Columbia Short-Term Cash Fund, 4.503% | Columbia Short-Term Cash Fund, 4.503% | Columbia Short-Term Cash Fund, 4.503% | Columbia Short-Term Cash Fund, 4.503% | Columbia Short-Term Cash Fund, 4.503% | Columbia Short-Term Cash Fund, 4.503% | Columbia Short-Term Cash Fund, 4.503% | Columbia Short-Term Cash Fund, 4.503% |
|  | 193670471 | &nbsp;&nbsp; 1302609627 | &nbsp;&nbsp; (1372019000)<br>| &nbsp;&nbsp; 11955 | &nbsp;&nbsp; 124273053 | &nbsp;&nbsp; 19375 | &nbsp;&nbsp; 7853107 | &nbsp;&nbsp; 124310346 |

---

**Abbreviation Legend** 

---

| | |
|:---|:---|
| CMO | Collateralized Mortgage Obligation |
| CMT | Constant Maturity Treasury |
| SOFR | Secured Overnight Financing Rate |
| STRIPS | Separate Trading of Registered Interest and Principal Securities |
| TBA | To Be Announced |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

**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 following table is a summary of the inputs used to value the Fund's investments at April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 390683520 | &nbsp;&nbsp;&nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 402683520 |
| Commercial Mortgage-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 21759508 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21759508 |
| Common Stocks |  |  |  |  |
| Financials | 537687 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 537687 |
| Industrials | 102749 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 102749 |
| Total Common Stocks | 640436 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 640436 |
| Corporate Bonds & Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 794624316 | &nbsp;&nbsp;&nbsp;&nbsp; 41069 | &nbsp;&nbsp;&nbsp;&nbsp; 794665385 |
| Foreign Government Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 44717555 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44717555 |
| Residential Mortgage-Backed Securities - Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 1244547207 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1244547207 |
| Residential Mortgage-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 509562838 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 509562838 |
| Senior Loans |  | &nbsp;&nbsp;&nbsp;&nbsp; 40611394 | &nbsp;&nbsp;&nbsp;&nbsp; 160435 | &nbsp;&nbsp;&nbsp;&nbsp; 40771829 |
| U.S. Treasury Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 6497695 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6497695 |
| Call Option Contracts Purchased |  | &nbsp;&nbsp;&nbsp;&nbsp; 7735694 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7735694 |
| Put Option Contracts Purchased |  | &nbsp;&nbsp;&nbsp;&nbsp; 2229156 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2229156 |
| Money Market Funds | 124273053 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 124273053 |
| Total Investments in Securities | 124913489 | &nbsp;&nbsp;&nbsp;&nbsp; 3062968883 | &nbsp;&nbsp;&nbsp;&nbsp; 12201504 | &nbsp;&nbsp;&nbsp;&nbsp; 3200083876 |
| Forward Sale Commitments |  | &nbsp;&nbsp;&nbsp;&nbsp; (37311195)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (37311195)<br>|
| **Investments in Derivatives** |  |  |  |  |

---

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

Columbia Total Return Bond Fund \| 2025

------

Portfolio of Investments (continued)

April 30, 2025

**Fair value measurements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| Asset |  |  |  |  |
| Futures Contracts | 11526330 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11526330 |
| Swap Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; 2065697 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2065697 |
| Liability |  |  |  |  |
| Futures Contracts | (3038768)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3038768)<br>|
| Call Option Contracts Written |  | &nbsp;&nbsp;&nbsp;&nbsp; (1579040)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1579040)<br>|
| Swap Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; (2306579)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2306579)<br>|
| Total | 133401051 | &nbsp;&nbsp;&nbsp;&nbsp; 3023837766 | &nbsp;&nbsp;&nbsp;&nbsp; 12201504 | &nbsp;&nbsp;&nbsp;&nbsp; 3169440321 |

---

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.

Futures contracts and swap contracts are valued at unrealized appreciation (depreciation).

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 Bond Fund \| 2025

------

Statement of Assets and Liabilities

April 30, 2025

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $3,157,270,015) | $3065845973 |
| Affiliated issuers (cost $124,251,617) | 124273053 |
| Option contracts purchased (cost $11,183,936) | 9964850 |
| Cash | 95796 |
| Foreign currency (cost $160) | 159 |
| Cash collateral held at broker for: |  |
| Swap contracts | 250000 |
| Other<sup>(a)</sup> <br>| 870000 |
| Margin deposits on: |  |
| Swap contracts | 2446326 |
| Unrealized appreciation on swap contracts | 1632868 |
| Upfront payments on swap contracts | 5772341 |
| Receivable for: |  |
| Investments sold | 2412944 |
| Investments sold on a delayed delivery basis  | 165733761 |
| Capital shares sold | 11865187 |
| Dividends | 355476 |
| Interest | 16315413 |
| Foreign tax reclaims | 3210 |
| Variation margin for futures contracts | 785166 |
| Expense reimbursement due from Investment Manager | 10550 |
| Prepaid expenses | 7926 |
| Deferred compensation of board members | 390971 |
| Other assets | 6928 |
| Total assets | 3409038898 |
| **Liabilities** |  |
| Option contracts written, at value (premiums received $1,399,734) | 1579040 |
| Forward sale commitments, at value (proceeds receivable $37,011,914) | 37311195 |
| Unrealized depreciation on swap contracts | 2306579 |
| Upfront receipts on swap contracts | 6521989 |
| Payable for: |  |
| Investments purchased | 2121002 |
| Investments purchased on a delayed delivery basis | 593518251 |
| Capital shares redeemed | 6638465 |
| Distributions to shareholders | 10861284 |
| Variation margin for futures contracts | 450656 |
| Variation margin for swap contracts | 134347 |
| Interest on forward sale commitments | 43000 |
| Management services fees | 36140 |
| Distribution and/or service fees | 4418 |
| Transfer agent fees | 221560 |
| Compensation of board members | 2399 |
| Other expenses | 97782 |
| Deferred compensation of board members | 463472 |
| Total liabilities | 662311579 |
| **Net assets applicable to outstanding capital stock** | **$2746727319** |
| **Represented by** |  |
| Paid in capital | 3411229362 |
| Total distributable earnings (loss) | (664502043)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$2746727319** |

---

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

Columbia Total Return Bond Fund \| 2025

------

Statement of Assets and Liabilities (continued)

April 30, 2025

---

| | |
|:---|:---|
| **Class A** |  |
| Net assets | $540910271 |
| Shares outstanding | 17666065 |
| Net asset value per share | $30.62 |
| 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) | $31.57 |
| **Class C** |  |
| Net assets | $24362770 |
| Shares outstanding | 795611 |
| Net asset value per share | $30.62 |
| **Institutional Class** |  |
| Net assets | $1573608896 |
| Shares outstanding | 51362834 |
| Net asset value per share | $30.64 |
| **Institutional 2 Class** |  |
| Net assets | $182834563 |
| Shares outstanding | 5979397 |
| Net asset value per share | $30.58 |
| **Institutional 3 Class** |  |
| Net assets | $363044135 |
| Shares outstanding | 11849550 |
| Net asset value per share | $30.64 |
| **Class R** |  |
| Net assets | $3742606 |
| Shares outstanding | 122187 |
| Net asset value per share | $30.63 |
| **Class S** |  |
| Net assets | $58224078 |
| Shares outstanding | 1900498 |
| Net asset value per share | $30.64 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Includes collateral related to option contracts purchased and swap contracts.

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

Columbia Total Return Bond Fund \| 2025

------

Statement of Operations

Year Ended April 30, 2025

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — affiliated issuers | $7853107 |
| Interest | 146325829 |
| Interfund lending | 2771 |
| Foreign taxes withheld | (6059)<br>|
| Total income | 154175648 |
| Expenses: |  |
| Management services fees | 13578390 |
| Distribution and/or service fees |  |
| Class A | 1364870 |
| Class C | 235553 |
| Class R | 23263 |
| Transfer agent fees |  |
| Class A | 618988 |
| Advisor Class | 163305 |
| Class C | 26708 |
| Institutional Class | 1638949 |
| Institutional 2 Class | 119125 |
| Institutional 3 Class | 21970 |
| Class R | 5288 |
| Class S | 42565 |
| Custodian fees | 65504 |
| Printing and postage fees | 131910 |
| Registration fees | 171395 |
| Accounting services fees | 55857 |
| Legal fees | 49316 |
| Interest on collateral | 554362 |
| Compensation of chief compliance officer | 484 |
| Compensation of board members | 41210 |
| Deferred compensation of board members | 10948 |
| Other | 69661 |
| Total expenses | 18989621 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (4190427)<br>|
| Fees waived by transfer agent |  |
| Institutional 2 Class | (34622)<br>|
| Institutional 3 Class | (14798)<br>|
| Expense reduction | (1231)<br>|
| Total net expenses | 14748543 |
| **Net investment income** | 139427105 |

---

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

Columbia Total Return Bond Fund \| 2025

------

Statement of Operations (continued)

Year Ended April 30, 2025

---

| | |
|:---|:---|
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | $(6774265)<br>|
| Investments — affiliated issuers | 19375 |
| Foreign currency translations | 18058 |
| Forward foreign currency exchange contracts | (12666)<br>|
| Futures contracts | (3768761)<br>|
| Option contracts purchased | (6025673)<br>|
| Option contracts written | 1202172 |
| Swap contracts | 1179602 |
| Net realized loss | (14162158)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 128985893 |
| Investments — affiliated issuers | 11955 |
| Foreign currency translations | 1030 |
| Forward sale commitments | (299281)<br>|
| Forward foreign currency exchange contracts | 2845 |
| Futures contracts | 22832931 |
| Option contracts purchased | 680558 |
| Option contracts written | (179306)<br>|
| Swap contracts | (638565)<br>|
| Net change in unrealized appreciation (depreciation) | 151398060 |
| Net realized and unrealized gain | 137235902 |
| **Net increase in net assets resulting from operations** | **$276663007** |

---

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

Columbia Total Return Bond Fund \| 2025

------

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**April 30, 2025**<br>| **Year Ended** <br>**April 30, 2024**<br>|
| **Operations** |  |  |
| Net investment income | $139427105 | &nbsp;&nbsp; $151865580 |
| Net realized loss | (14162158)<br>| &nbsp;&nbsp; (160400721)<br>|
| Net change in unrealized appreciation (depreciation) | 151398060 | &nbsp;&nbsp; (5069916)<br>|
| Net increase (decrease) in net assets resulting from operations | 276663007 | &nbsp;&nbsp; (13605057)<br>|
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (25547899)<br>| &nbsp;&nbsp; (27382328)<br>|
| Advisor Class | (7078320)<br>| &nbsp;&nbsp; (12801510)<br>|
| Class C | (926735)<br>| &nbsp;&nbsp; (795301)<br>|
| Institutional Class | (71362440)<br>| &nbsp;&nbsp; (66542492)<br>|
| Institutional 2 Class | (10777915)<br>| &nbsp;&nbsp; (14669979)<br>|
| Institutional 3 Class | (20565688)<br>| &nbsp;&nbsp; (23851164)<br>|
| Class R | (204843)<br>| &nbsp;&nbsp; (295498)<br>|
| Class S | (1895087)<br>| &nbsp;&nbsp; — |
| Total distributions to shareholders | (138358927)<br>| &nbsp;&nbsp; (146338272)<br>|
| Increase (decrease) in net assets from capital stock activity | (264392778)<br>| &nbsp;&nbsp; 229962152 |
| Total increase (decrease) in net assets | (126088698)<br>| &nbsp;&nbsp; 70018823 |
| Net assets at beginning of year | 2872816017 | &nbsp;&nbsp; 2802797194 |
| **Net assets at end of year** | **$2746727319** | &nbsp;&nbsp; **$2872816017** |

---

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

Columbia Total Return Bond Fund \| 2025

------

Statement of Changes in Net Assets (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **April 30, 2025**  | **April 30, 2025**  | **April 30, 2024**  | **April 30, 2024**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 2044649 | &nbsp;&nbsp;&nbsp;&nbsp; 62341516 | &nbsp;&nbsp;&nbsp;&nbsp; 2315300 | &nbsp;&nbsp;&nbsp;&nbsp; 68985562 |
| Distributions reinvested | 802106 | &nbsp;&nbsp;&nbsp;&nbsp; 24360239 | &nbsp;&nbsp;&nbsp;&nbsp; 883294 | &nbsp;&nbsp;&nbsp;&nbsp; 26149928 |
| Shares redeemed | (3706065)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (112098708)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4920258)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (145175088)<br>|
| Net decrease | (859310)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25396953)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1721664)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (50039598)<br>|
| Advisor Class |  |  |  |  |
| Shares sold | 1077979 | &nbsp;&nbsp;&nbsp;&nbsp; 32812769 | &nbsp;&nbsp;&nbsp;&nbsp; 2469900 | &nbsp;&nbsp;&nbsp;&nbsp; 73347755 |
| Distributions reinvested | 203288 | &nbsp;&nbsp;&nbsp;&nbsp; 6180023 | &nbsp;&nbsp;&nbsp;&nbsp; 427160 | &nbsp;&nbsp;&nbsp;&nbsp; 12634006 |
| Shares redeemed | (9833610)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (296370885)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2969857)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (87825253)<br>|
| Net decrease | (8552343)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (257378093)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (72797)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1843492)<br>|
| Class C |  |  |  |  |
| Shares sold | 284243 | &nbsp;&nbsp;&nbsp;&nbsp; 8681514 | &nbsp;&nbsp;&nbsp;&nbsp; 406391 | &nbsp;&nbsp;&nbsp;&nbsp; 12099618 |
| Distributions reinvested | 29105 | &nbsp;&nbsp;&nbsp;&nbsp; 883965 | &nbsp;&nbsp;&nbsp;&nbsp; 25312 | &nbsp;&nbsp;&nbsp;&nbsp; 749655 |
| Shares redeemed | (254860)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7717033)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (229637)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6788138)<br>|
| Net increase | 58488 | &nbsp;&nbsp;&nbsp;&nbsp; 1848446 | &nbsp;&nbsp;&nbsp;&nbsp; 202066 | &nbsp;&nbsp;&nbsp;&nbsp; 6061135 |
| Institutional Class |  |  |  |  |
| Shares sold | 25145683 | &nbsp;&nbsp;&nbsp;&nbsp; 763023947 | &nbsp;&nbsp;&nbsp;&nbsp; 19075781 | &nbsp;&nbsp;&nbsp;&nbsp; 566506785 |
| Distributions reinvested | 2237931 | &nbsp;&nbsp;&nbsp;&nbsp; 67997918 | &nbsp;&nbsp;&nbsp;&nbsp; 2137032 | &nbsp;&nbsp;&nbsp;&nbsp; 63331686 |
| Shares redeemed | (19570047)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (594499283)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (20245504)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (600466233)<br>|
| Net increase | 7813567 | &nbsp;&nbsp;&nbsp;&nbsp; 236522582 | &nbsp;&nbsp;&nbsp;&nbsp; 967309 | &nbsp;&nbsp;&nbsp;&nbsp; 29372238 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 2313245 | &nbsp;&nbsp;&nbsp;&nbsp; 70154123 | &nbsp;&nbsp;&nbsp;&nbsp; 4898129 | &nbsp;&nbsp;&nbsp;&nbsp; 144326742 |
| Distributions reinvested | 355561 | &nbsp;&nbsp;&nbsp;&nbsp; 10773622 | &nbsp;&nbsp;&nbsp;&nbsp; 495438 | &nbsp;&nbsp;&nbsp;&nbsp; 14667767 |
| Shares redeemed | (7287694)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (218429889)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3736034)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (109921954)<br>|
| Net increase (decrease) | (4618888)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (137502144)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1657533 | &nbsp;&nbsp;&nbsp;&nbsp; 49072555 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 6845148 | &nbsp;&nbsp;&nbsp;&nbsp; 208756914 | &nbsp;&nbsp;&nbsp;&nbsp; 13734165 | &nbsp;&nbsp;&nbsp;&nbsp; 412830931 |
| Distributions reinvested | 452838 | &nbsp;&nbsp;&nbsp;&nbsp; 13760889 | &nbsp;&nbsp;&nbsp;&nbsp; 560666 | &nbsp;&nbsp;&nbsp;&nbsp; 16623367 |
| Shares redeemed | (12024033)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (360817524)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7915026)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (234313810)<br>|
| Net increase (decrease) | (4726047)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (138299721)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6379805 | &nbsp;&nbsp;&nbsp;&nbsp; 195140488 |
| Class R |  |  |  |  |
| Shares sold | 50219 | &nbsp;&nbsp;&nbsp;&nbsp; 1514558 | &nbsp;&nbsp;&nbsp;&nbsp; 111026 | &nbsp;&nbsp;&nbsp;&nbsp; 3290152 |
| Distributions reinvested | 6593 | &nbsp;&nbsp;&nbsp;&nbsp; 200022 | &nbsp;&nbsp;&nbsp;&nbsp; 9917 | &nbsp;&nbsp;&nbsp;&nbsp; 293567 |
| Shares redeemed | (172770)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5275487)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (47303)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1384893)<br>|
| Net increase (decrease) | (115958)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3560907)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 73640 | &nbsp;&nbsp;&nbsp;&nbsp; 2198826 |
| Class S |  |  |  |  |
| Shares sold | 2501290 | &nbsp;&nbsp;&nbsp;&nbsp; 77444042 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Distributions reinvested | 62046 | &nbsp;&nbsp;&nbsp;&nbsp; 1880406 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Shares redeemed | (662838)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (19950436)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Net increase | 1900498 | &nbsp;&nbsp;&nbsp;&nbsp; 59374012 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| **Total net increase (decrease)** | **(9099993)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(264392778)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **7485892** | &nbsp;&nbsp;&nbsp;&nbsp; **229962152** |

---

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

Columbia Total Return Bond Fund \| 2025

------

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.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **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** |
| Year Ended 4/30/2025 | $29.08<br>| 1.43<br>| 1.53<br>| 2.96<br>| &nbsp;&nbsp; (1.42) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.42) <br>|
| Year Ended 4/30/2024 | $30.70<br>| 1.46<br>| &nbsp;&nbsp; (1.67) <br>| &nbsp;&nbsp; (0.21) <br>| &nbsp;&nbsp; (1.41) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.41) <br>|
| Year Ended 4/30/2023 | $32.85<br>| 1.24<br>| &nbsp;&nbsp; (2.34) <br>| &nbsp;&nbsp; (1.10) <br>| &nbsp;&nbsp; (1.05) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.05) <br>|
| Year Ended 4/30/2022 | $37.76<br>| 0.91<br>| &nbsp;&nbsp; (4.87) <br>| &nbsp;&nbsp; (3.96) <br>| &nbsp;&nbsp; (0.87) <br>| &nbsp;&nbsp; (0.08) <br>| &nbsp;&nbsp; (0.95) <br>|
| Year Ended 4/30/2021<sup>(e)</sup> <br>| $36.96<br>| 1.16<br>| 2.64<br>| 3.80<br>| &nbsp;&nbsp; (1.13) <br>| &nbsp;&nbsp; (1.87) <br>| &nbsp;&nbsp; (3.00) <br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 4/30/2025 | $29.08<br>| 1.20<br>| 1.53<br>| 2.73<br>| &nbsp;&nbsp; (1.19) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.19) <br>|
| Year Ended 4/30/2024 | $30.70<br>| 1.24<br>| &nbsp;&nbsp; (1.67) <br>| &nbsp;&nbsp; (0.43) <br>| &nbsp;&nbsp; (1.19) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.19) <br>|
| Year Ended 4/30/2023 | $32.85<br>| 1.01<br>| &nbsp;&nbsp; (2.34) <br>| &nbsp;&nbsp; (1.33) <br>| &nbsp;&nbsp; (0.82) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (0.82) <br>|
| Year Ended 4/30/2022 | $37.77<br>| 0.64<br>| &nbsp;&nbsp; (4.89) <br>| &nbsp;&nbsp; (4.25) <br>| &nbsp;&nbsp; (0.59) <br>| &nbsp;&nbsp; (0.08) <br>| &nbsp;&nbsp; (0.67) <br>|
| Year Ended 4/30/2021<sup>(e)</sup> <br>| $36.96<br>| 0.87<br>| 2.65<br>| 3.52<br>| &nbsp;&nbsp; (0.84) <br>| &nbsp;&nbsp; (1.87) <br>| &nbsp;&nbsp; (2.71) <br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 4/30/2025 | $29.10<br>| 1.50<br>| 1.53<br>| 3.03<br>| &nbsp;&nbsp; (1.49) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.49) <br>|
| Year Ended 4/30/2024 | $30.72<br>| 1.54<br>| &nbsp;&nbsp; (1.68) <br>| &nbsp;&nbsp; (0.14) <br>| &nbsp;&nbsp; (1.48) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.48) <br>|
| Year Ended 4/30/2023 | $32.87<br>| 1.31<br>| &nbsp;&nbsp; (2.33) <br>| &nbsp;&nbsp; (1.02) <br>| &nbsp;&nbsp; (1.13) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.13) <br>|
| Year Ended 4/30/2022 | $37.78<br>| 1.01<br>| &nbsp;&nbsp; (4.87) <br>| &nbsp;&nbsp; (3.86) <br>| &nbsp;&nbsp; (0.97) <br>| &nbsp;&nbsp; (0.08) <br>| &nbsp;&nbsp; (1.05) <br>|
| Year Ended 4/30/2021<sup>(e)</sup> <br>| $36.98<br>| 1.26<br>| 2.64<br>| 3.90<br>| &nbsp;&nbsp; (1.23) <br>| &nbsp;&nbsp; (1.87) <br>| &nbsp;&nbsp; (3.10) <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** |
| Year Ended 4/30/2025 | $29.04<br>| 1.52<br>| 1.53<br>| 3.05<br>| &nbsp;&nbsp; (1.51) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.51) <br>|
| Year Ended 4/30/2024 | $30.66<br>| 1.56<br>| &nbsp;&nbsp; (1.68) <br>| &nbsp;&nbsp; (0.12) <br>| &nbsp;&nbsp; (1.50) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.50) <br>|
| Year Ended 4/30/2023 | $32.81<br>| 1.35<br>| &nbsp;&nbsp; (2.35) <br>| &nbsp;&nbsp; (1.00) <br>| &nbsp;&nbsp; (1.15) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.15) <br>|
| Year Ended 4/30/2022 | $37.71<br>| 1.03<br>| &nbsp;&nbsp; (4.86) <br>| &nbsp;&nbsp; (3.83) <br>| &nbsp;&nbsp; (0.99) <br>| &nbsp;&nbsp; (0.08) <br>| &nbsp;&nbsp; (1.07) <br>|
| Year Ended 4/30/2021<sup>(e)</sup> <br>| $36.91<br>| 1.28<br>| 2.64<br>| 3.92<br>| &nbsp;&nbsp; (1.25) <br>| &nbsp;&nbsp; (1.87) <br>| &nbsp;&nbsp; (3.12) <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** |
| Year Ended 4/30/2025 | $29.10<br>| 1.54<br>| 1.53<br>| 3.07<br>| &nbsp;&nbsp; (1.53) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.53) <br>|
| Year Ended 4/30/2024 | $30.72<br>| 1.58<br>| &nbsp;&nbsp; (1.68) <br>| &nbsp;&nbsp; (0.10) <br>| &nbsp;&nbsp; (1.52) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.52) <br>|
| Year Ended 4/30/2023 | $32.87<br>| 1.35<br>| &nbsp;&nbsp; (2.33) <br>| &nbsp;&nbsp; (0.98) <br>| &nbsp;&nbsp; (1.17) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.17) <br>|
| Year Ended 4/30/2022 | $37.79<br>| 1.05<br>| &nbsp;&nbsp; (4.88) <br>| &nbsp;&nbsp; (3.83) <br>| &nbsp;&nbsp; (1.01) <br>| &nbsp;&nbsp; (0.08) <br>| &nbsp;&nbsp; (1.09) <br>|
| Year Ended 4/30/2021<sup>(e)</sup> <br>| $36.98<br>| 1.29<br>| 2.66<br>| 3.95<br>| &nbsp;&nbsp; (1.27) <br>| &nbsp;&nbsp; (1.87) <br>| &nbsp;&nbsp; (3.14) <br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 4/30/2025 | $29.09<br>| 1.35<br>| 1.53<br>| 2.88<br>| &nbsp;&nbsp; (1.34) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.34) <br>|
| Year Ended 4/30/2024 | $30.71<br>| 1.39<br>| &nbsp;&nbsp; (1.68) <br>| &nbsp;&nbsp; (0.29) <br>| &nbsp;&nbsp; (1.33) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1.33) <br>|
| Year Ended 4/30/2023 | $32.87<br>| 1.15<br>| &nbsp;&nbsp; (2.33) <br>| &nbsp;&nbsp; (1.18) <br>| &nbsp;&nbsp; (0.98) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (0.98) <br>|
| Year Ended 4/30/2022 | $37.78<br>| 0.82<br>| &nbsp;&nbsp; (4.87) <br>| &nbsp;&nbsp; (4.05) <br>| &nbsp;&nbsp; (0.78) <br>| &nbsp;&nbsp; (0.08) <br>| &nbsp;&nbsp; (0.86) <br>|
| Year Ended 4/30/2021<sup>(e)</sup> <br>| $36.97<br>| 1.06<br>| 2.66<br>| 3.72<br>| &nbsp;&nbsp; (1.04) <br>| &nbsp;&nbsp; (1.87) <br>| &nbsp;&nbsp; (2.91) <br>|

---

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

Columbia Total Return Bond Fund \| 2025

------

Financial Highlights (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&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** |
| Year Ended 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $30.62<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.31%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 229%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $540910<br>|
| Year Ended 4/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $29.08<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.67%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 261%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $538729<br>|
| Year Ended 4/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $30.70<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3.27%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 247%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $621570<br>|
| Year Ended 4/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $32.85<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10.72%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.87% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 173%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $699471<br>|
|  Year Ended 4/30/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.76<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.36%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 295%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $786976<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Year Ended 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $30.62<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9.49%<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.63% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.48% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 229%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $24363<br>|
| Year Ended 4/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $29.08<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.42%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 1.64% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.49% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.16%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 261%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $21438<br>|
| Year Ended 4/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $30.70<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3.99%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 1.65% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.50% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 247%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $16428<br>|
| Year Ended 4/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $32.85<br>| &nbsp;&nbsp;&nbsp;&nbsp; (11.42%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 1.62% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.49% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.73%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 173%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $16370<br>|
|  Year Ended 4/30/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.77<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9.57%<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.63% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.49% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 295%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20492<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Year Ended 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $30.64<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.58%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.63% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.96%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 229%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1573609<br>|
| Year Ended 4/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $29.10<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.42%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.63% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 261%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1267197<br>|
| Year Ended 4/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $30.72<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3.02%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.65% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.26%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 247%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1307981<br>|
| Year Ended 4/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $32.87<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10.49%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.62% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 173%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1497858<br>|
|  Year Ended 4/30/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.78<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.70%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.63% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.26%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 295%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1062540<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Year Ended 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $30.58<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.67%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.41% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 229%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $182835<br>|
| Year Ended 4/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $29.04<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.36%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.42% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 261%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $307789<br>|
| Year Ended 4/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $30.66<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2.96%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.42% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 247%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $274094<br>|
| Year Ended 4/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $32.81<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10.43%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.42% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 173%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $209091<br>|
|  Year Ended 4/30/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.71<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.69%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.43% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.33%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 295%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $155945<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Year Ended 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $30.64<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.70%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.38% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.06%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 229%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $363044<br>|
| Year Ended 4/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $29.10<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.31%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.38% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.28%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 261%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $482334<br>|
| Year Ended 4/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $30.72<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2.90%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.37% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 247%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $313215<br>|
| Year Ended 4/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $32.87<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10.41%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.37% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 173%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $405759<br>|
|  Year Ended 4/30/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.79<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.73%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.38% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.32%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 295%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $354336<br>|
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| Year Ended 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $30.63<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.04%<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.98% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 229%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $3743<br>|
| Year Ended 4/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $29.09<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.92%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.99% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 261%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $6928<br>|
| Year Ended 4/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $30.71<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3.54%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 1.15% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.00% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 247%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $5052<br>|
| Year Ended 4/30/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $32.87<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10.94%) <br>&nbsp;&nbsp;&nbsp;&nbsp; 1.12% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.99% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.24%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 173%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $6352<br>|
|  Year Ended 4/30/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.78<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.15%<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.99% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.76%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 295%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $4752<br>|

---

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

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Financial Highlights (continued)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<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 S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Year Ended 4/30/2025<sup>(f)</sup> <br>| $31.43<br>| 0.88<br>&nbsp;&nbsp; (0.81 )<sup>(g)</sup><br>| 0.07<br>| &nbsp;&nbsp; (0.86) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (0.86) <br>|

---

---

| | |
|:---|:---|
| **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) | Ratios include interest on collateral expense. For the periods indicated below, if interest on collateral expense had been excluded, expenses would have been lower by: |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class** | **4/30/2025** | **4/30/2024** | **4/30/2023** | **4/30/2022** | **4/30/2021** |
| Class A | 0.02% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% | less than 0.01% | less than 0.01% |
| Class C | 0.02% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% | less than 0.01% | less than 0.01% |
| Institutional Class | 0.02% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% | less than 0.01% | less than 0.01% |
| Institutional 2 Class | 0.02% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% | less than 0.01% | less than 0.01% |
| Institutional 3 Class | 0.02% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% | less than 0.01% | less than 0.01% |
| Class R | 0.02% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% | less than 0.01% | less than 0.01% |
| Class S | 0.02% | &nbsp;&nbsp; —% | &nbsp;&nbsp; —% | &nbsp;&nbsp; —% | &nbsp;&nbsp; —% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(d) The benefits derived from expense reductions had an impact of less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse
 stock split completed after the close of business on September 11, 2020.

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

&nbsp;&nbsp;&nbsp;&nbsp;(g) Calculation of the net gain (loss) per share (both realized and unrealized) does not
 correlate to the aggregate realized and unrealized gain (loss) presented in the Statement
 of Operations due to timing of Fund shares sold and redeemed in relation to fluctuations
 in the market value of the portfolio.

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

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Financial Highlights (continued)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
|  Year Ended 4/30/2025 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $30.64<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30%<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.64% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.49% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 229%<br>| &nbsp;&nbsp;&nbsp;&nbsp; $58224<br>|

---

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

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Notes to Financial Statements

April 30, 2025

Note 1. Organization

Columbia Total Return 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 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 S shares commenced operations on October 2, 2024.

The Board of Trustees of the Fund approved a proposal to permit the exchange of Institutional Class shares held by certain financial intermediaries and omnibus group retirement plans, with specific permission from Columbia Management Investment Distributors, Inc., for newly created Class S shares. Effective on October 4, 2024, shares held by those certain Institutional Class shareholders of the Fund were exchanged for Class S shares of the Fund. This was a tax-free transaction for existing Institutional Class shareholders.

In addition, the Board of Trustees of the Fund approved the conversion of all Advisor Class shares of the Fund to Institutional Class shares of the Fund and the subsequent elimination of Advisor Class shares. Effective on November 22, 2024, Advisor Class shares of the Fund were converted to Institutional Class shares of the Fund. This was a tax-free transaction for existing Advisor Class shareholders.

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**

In this reporting period, the Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures (ASU 2023-07). Adoption of the new standard impacted financial statement disclosures only and did not affect the Fund's financial position or its results of operations. The intent of the ASU 2023-07 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

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Notes to Financial Statements (continued)

April 30, 2025

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.

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.

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.

Senior loan securities for which reliable market quotations are readily available are generally valued by pricing services at the average of the bids received.

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.

Option contracts are valued at the mean of the latest quoted bid and ask prices on their primary exchanges. Option contracts, including over-the-counter option contracts, with no readily available market quotations are valued using mid-market evaluations from independent third-party vendors.

Swap transactions are valued through an independent pricing service or broker, or if neither is available, through an internal model based upon observable inputs.

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.

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Notes to Financial Statements (continued)

April 30, 2025

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.

**Foreign currency transactions and translations** 

The values of all assets and liabilities denominated in foreign currencies are generally translated into U.S. dollars at exchange rates determined at the close of regular trading on the New York Stock Exchange. Net realized and unrealized gains (losses) on foreign currency transactions and translations include gains (losses) arising from the fluctuation in exchange rates between trade and settlement dates on securities transactions, gains (losses) arising from the disposition of foreign currency and currency gains (losses) between the accrual and payment dates on dividends, interest income and foreign withholding taxes.

For financial statement purposes, the Fund does not distinguish that portion of gains (losses) on investments which is due to changes in foreign exchange rates from that which is due to changes in market prices of the investments. Such fluctuations are included with the net realized and unrealized gains (losses) on investments in the Statement of Operations.

**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 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 or central counterparty stands between the buyer and the seller of the contract; therefore, failure of the clearinghouse or central counterparty may pose additional counterparty credit risk. However, credit risk still exists in exchange-traded or centrally cleared derivatives with respect to initial and variation margin that is held in a broker's customer account. 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), potentially resulting in losses to the Fund.

In order to better define its contractual rights and to secure rights that will help the Fund mitigate its counterparty risk in respect of 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

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Notes to Financial Statements (continued)

April 30, 2025

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.

**Forward foreign currency exchange contracts** 

Forward foreign currency exchange contracts are over-the-counter agreements between two parties to buy and sell a currency at a set price on a future date. The Fund utilized forward foreign currency exchange contracts to hedge the currency exposure associated with some or all of the Fund's securities. These instruments may be used for other purposes in future periods.

The values of forward foreign currency exchange contracts fluctuate daily with changes in foreign currency exchange rates. Changes in the value of these contracts are recorded as unrealized appreciation or depreciation until the contract is exercised or has expired. The Fund will realize a gain or loss when the forward foreign currency exchange contract is closed or expires. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. dollars without delivery of foreign currency.

The use of forward foreign currency exchange contracts does not eliminate fluctuations in the prices of the Fund's portfolio securities. The risks of forward foreign currency exchange contracts include movement in the values of the foreign currencies relative to the U.S. dollar (or other foreign currencies) and the possibility that counterparties will not complete their contractual obligations, which may be in excess of the amount reflected, if any, 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 the duration and yield curve exposure of the Fund versus the benchmark and to manage exposure to movements in interest rates. These instruments may be used for other purposes in future periods. Upon entering into futures contracts, the Fund bears risks that it may not achieve the

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Notes to Financial Statements (continued)

April 30, 2025

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.

**Options contracts**

Options are contracts which entitle the holder to purchase or sell securities or other identified assets at a specified price, or in the case of index option contracts, to receive or pay the difference between the index value and the strike price of the index option contract. Option contracts can be either exchange-traded or over-the-counter. The Fund purchased and has written option contracts to manage exposure to fluctuations in interest rates. These instruments may be used for other purposes in future periods. Completion of transactions for option contracts traded in the over-the-counter market depends upon the performance of the other party. Collateral may be collected or posted by the Fund to secure over-the-counter option contract trades. Collateral held or posted by the Fund for such option contract trades must be returned to the broker or the Fund upon closure, exercise or expiration of the contract.

Options contracts purchased are recorded as investments. When the Fund writes an options contract, the premium received is recorded as an asset and an amount equivalent to the premium is recorded as a liability in the Statement of Assets and Liabilities and is subsequently adjusted to reflect the current fair value of the option written. Changes in the fair value of the written option are recorded as unrealized appreciation or depreciation until the contract is exercised or has expired. The Fund realizes a gain or loss when the option contract is closed or expires. When option contracts are exercised, the proceeds on sales for a written call or purchased put option contract, or the purchase cost for a written put or purchased call option contract, is adjusted by the amount of premium received or paid.

For over-the-counter options purchased, the Fund bears the risk of loss of the amount of the premiums paid plus the positive change in market values net of any collateral held by the Fund should the counterparty fail to perform under the contracts. Option contracts written by the Fund do not typically give rise to significant counterparty credit risk, as options written generally obligate the Fund and not the counterparty to perform. The risk in writing a call option contract is that the Fund gives up the opportunity for profit if the market price of the security increases above the strike price and the option contract is exercised. The risk in writing a put option contract is that the Fund may incur a loss if the market price of the security decreases below the strike price and the option contract is exercised. Exercise of a written option could result in the Fund purchasing or selling a security or foreign currency when it otherwise would not, or at a price different from the current market value. In purchasing and writing options, the Fund bears the risk of an unfavorable change in the value of the underlying instrument or the risk that the Fund may not be able to enter into a closing transaction due to an illiquid market.

**Interest rate swaption contracts** 

Interest rate swaption contracts entered into by the Fund typically represent an option that gives the purchaser the right, but not the obligation, to enter into an interest rate swap contract on a future date. Each interest rate swaption contract will specify if the buyer is entitled to receive the fixed or floating rate if the interest rate is exercised. Changes in the value of purchased interest rate swaption contracts are reported as unrealized appreciation or depreciation on options in the Statement of Assets and Liabilities. Gain or loss is recognized in the Statement of Operations when the interest rate swaption contract is closed or expires.

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Notes to Financial Statements (continued)

April 30, 2025

When the Fund writes an interest rate swaption contract, the premium received is recorded as an asset and an amount equivalent to the premium is recorded as a liability in the Statement of Assets and Liabilities and is subsequently adjusted to reflect the current fair value of the interest rate swaption contract written. Premiums received from writing interest rate swaption contracts that expire unexercised are recorded by the Fund on the expiration date as realized gains from options written in the Statement of Operations. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also recorded as realized gain, or if the premium is less than the amount paid for the closing purchase, as realized loss. These amounts are reflected as net realized gain (loss) on options written in the Statement of Operations.

**Swap contracts**

Swap contracts are negotiated in the over-the-counter market and are entered into bilaterally or centrally cleared (centrally cleared swap contract). In a centrally cleared swap contract, immediately following execution of the swap contract with a broker, the swap contract is novated to a central counterparty and the central counterparty becomes the Fund's counterparty to the centrally cleared swap contract. The Fund is required to deposit initial margin with the futures commission merchant (FCM), which pledges it through to the central counterparty in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap contract. Securities deposited as initial margin are designated in the Portfolio of Investments and cash deposited is recorded in the Statement of Assets and Liabilities as margin deposits. For a bilateral swap contract, the Fund has credit exposure to the broker, but exchanges daily variation margin with the broker based on the mark-to-market value of the swap contract to minimize that exposure. For centrally cleared swap contracts, there is less credit exposure to the FCM than in the case of an over-the-counter derivative, because the central counterparty stands between the Fund and the relevant buyer/seller on the other side of the contract. Swap contracts are marked-to-market daily and changes in value are recorded as unrealized appreciation (depreciation). The daily change in valuation of centrally cleared swap contracts, if any, is recorded as a receivable or payable for variation margin in the Statement of Assets and Liabilities.

Entering into these contracts involves, to varying degrees, elements of interest, liquidity and counterparty credit risk in excess of the amounts recognized in the Statement of Assets and Liabilities. Such risks involve the possibility that there may be unfavorable changes in interest rates, market conditions or other conditions, that it may be difficult to initiate a swap transaction or liquidate a position at an advantageous time or price which may result in significant losses, and that the bilateral counterparty, FCM or central counterparty, as applicable, may not fulfill its obligation under the contract.

**Credit default swap contracts**

The Fund entered into credit default swap contracts to manage credit risk exposure. These instruments may be used for other purposes in future periods. Credit default swap contracts are transactions in which one party pays fixed periodic payments to a counterparty in consideration for an agreement from the counterparty to make a specific payment should a specified credit event(s) take place. Although specified credit events are contract specific, credit events are typically bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default, or repudiation/moratorium.

As the purchaser of a credit default swap contract, the Fund purchases protection by paying a periodic interest rate on the notional amount to the counterparty. The interest amount is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as a realized loss upon payment. If a credit event as specified in the contract occurs, the Fund may have the option either to deliver the reference obligation to the seller in exchange for a cash payment of its par amount, or to receive a net cash settlement equal to the par amount less an agreed-upon value of the reference obligation as of the date of the credit event. The difference between the value of the obligation or cash delivered and the notional amount received will be recorded as a realized gain (loss).

As the seller of a credit default swap contract, the Fund sells protection to a buyer and will generally receive a periodic interest rate on a notional amount. The interest amount is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as a realized gain upon receipt of the payment. If a credit event as specified in the contract with the counterparty occurs, the Fund may either be required to accept the reference obligation from the buyer in exchange for a cash payment of its notional amount, or to pay the buyer a net cash settlement equal to the notional amount less an agreed-upon value of the reference obligation (recovery value) as of the date of the credit event. The difference between the value of the obligation or cash received and the notional amount paid will be recorded as a realized gain (loss). The maximum

Columbia Total Return Bond Fund \| 2025

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Notes to Financial Statements (continued)

April 30, 2025

potential amount of undiscounted future payments the Fund could be required to make as the seller of protection under a credit default swap contract is equal to the notional amount of the reference obligation. These potential amounts may be partially offset by any recovery values of the respective reference obligations or upfront receipts upon entering into the agreement. The notional amounts and market values of all credit default swap contracts in which the Fund is the seller of protection, if any, are disclosed in the Credit Default Swap Contracts Outstanding schedule following the Portfolio of Investments.

As a protection seller, the Fund bears the risk of loss from the credit events specified in the contract with the counterparty. For credit default swap contracts on credit indices, quoted market prices and resulting market values serve as an indicator of the current status of the payment/performance risk. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the reference entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the contract.

Any upfront payment or receipt by the Fund upon entering into a credit default swap contract is recorded as an asset or liability, respectively, and amortized daily as a component of realized gain (loss) in the Statement of Operations. Credit default swap contracts are valued daily, and the change in value is recorded as unrealized appreciation (depreciation) until the termination of the swap, at which time a realized gain (loss) is recorded.

Credit default swap contracts can involve greater risks than if a fund had invested in the reference obligation directly since, in addition to general market risks, credit default swaps are subject to other risks including counterparty credit risk, leverage risk, hedging risk, correlation risk and liquidity risk.

**Interest rate and inflation rate swap contracts**

The Fund entered into interest rate swap transactions or inflation rate swap contracts (together, rate swaps) to hedge the portfolio risk associated with some or all of the Fund's securities. These instruments may be used for other purposes in future periods. A rate swap is an agreement between two parties where there are two flows and payments are made between the two counterparties and the payments are dependent upon changes in an interest rate, inflation rate or inflation index calculated on a notional amount. Certain rate swaps are considered forward-starting, whereby the accrual for the exchange of cash flows does not begin until a specified date in the future. The net cash flow for a standard rate swap is generally the difference between a floating market interest rate or floating rate linked to an inflation index versus a fixed interest rate as applied to the notional amount.

Rate swaps are valued daily and unrealized appreciation (depreciation) is recorded. Certain rate swaps may accrue periodic interest on a daily basis as a component of unrealized appreciation (depreciation); the Fund will realize a gain or loss upon the payment or receipt of accrued interest. The Fund will realize a gain or a loss when the rate swap is terminated.

**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.

Columbia Total Return Bond Fund \| 2025

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Notes to Financial Statements (continued)

April 30, 2025

The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at April 30, 2025:

---

| | | |
|:---|:---|:---|
|  | **Asset derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Credit risk | Component of total distributable earnings (loss) — unrealized appreciation on swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; 2,065,697<br> \*<br>|
| Credit risk | Upfront payments on swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; 5772341 |
| Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 11,526,330<br> \*<br>|
| Interest rate risk | Investments, at value — Option contracts purchased | &nbsp;&nbsp;&nbsp;&nbsp; 9964850 |
| Total |  | &nbsp;&nbsp;&nbsp;&nbsp; 29329218 |

---

---

| | | |
|:---|:---|:---|
|  | **Liability derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Credit risk | Component of total distributable earnings (loss) — unrealized depreciation on swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; 2,306,579<br> \*<br>|
| Credit risk | Upfront receipts on swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; 6521989 |
| Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 3,038,768<br> \*<br>|
| Interest rate risk | Option contracts written, at value | &nbsp;&nbsp;&nbsp;&nbsp; 1579040 |
| Total |  | &nbsp;&nbsp;&nbsp;&nbsp; 13446376 |

---

\* 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 year ended April 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** |
| **Risk exposure category** | **Forward** <br>**foreign** <br>**currency** <br>**exchange** <br>**contracts** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Futures** <br>**contracts** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**purchased** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**written** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Swap** <br>**contracts** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**($)**<br>|
| Credit risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3812664)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3812664)<br>|
| Foreign exchange risk | &nbsp;&nbsp; (12666)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (12666)<br>|
| Interest rate risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3768761)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6025673)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1202172 | &nbsp;&nbsp;&nbsp;&nbsp; 4992266 | &nbsp;&nbsp;&nbsp;&nbsp; (3599996)<br>|
| Total | &nbsp;&nbsp; (12666)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3768761)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6025673)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1202172 | &nbsp;&nbsp;&nbsp;&nbsp; 1179602 | &nbsp;&nbsp;&nbsp;&nbsp; (7425326)<br>|
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Forward** <br>**foreign** <br>**currency** <br>**exchange** <br>**contracts** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Futures** <br>**contracts** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**purchased** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Option** <br>**contracts** <br>**written** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Swap** <br>**contracts** <br>**($)**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**($)**<br>|
| Credit risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (638565)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (638565)<br>|
| Foreign exchange risk | &nbsp;&nbsp; 2845 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2845 |
| Interest rate risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22832931 | &nbsp;&nbsp;&nbsp;&nbsp; 680558 | &nbsp;&nbsp;&nbsp;&nbsp; (179306)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23334183 |
| Total | &nbsp;&nbsp; 2845 | &nbsp;&nbsp;&nbsp;&nbsp; 22832931 | &nbsp;&nbsp;&nbsp;&nbsp; 680558 | &nbsp;&nbsp;&nbsp;&nbsp; (179306)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (638565)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 22698463 |

---

Columbia Total Return Bond Fund \| 2025

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Notes to Financial Statements (continued)

April 30, 2025

The following table is a summary of the average daily outstanding volume by derivative instrument for the year ended April 30, 2025:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 1538746443 |
| Futures contracts — short | 682131219 |
| Credit default swap contracts — buy protection | 109569012 |
| Credit default swap contracts — sell protection | 26197087 |

---

---

| | |
|:---|:---|
| **Derivative instrument** | **Average** <br>**value ($)**<br>|
| Option contracts purchased | 8555139 |
| Option contracts written | (62271)<br>|

---

---

| | | |
|:---|:---|:---|
| **Derivative instrument** | **Average unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Average unrealized** <br>**depreciation ($)**<br>|
| Forward foreign currency exchange contracts | &nbsp;&nbsp; 6958 | &nbsp;&nbsp;&nbsp;&nbsp; (6133)<br>|
| Interest rate swap contracts | &nbsp;&nbsp; 1060740 | &nbsp;&nbsp;&nbsp;&nbsp; (23228)<br>|

---

**Investments in senior loans** 

The Fund may invest in senior loan assignments. When the Fund purchases an assignment of a senior loan, the Fund typically has direct rights against the borrower; provided, however, that the Fund's rights may be more limited than the lender from which it acquired the assignment and the Fund may be able to enforce its rights only through an administrative agent. Although certain senior loan assignments are secured by collateral, the Fund could experience delays or limitations in realizing such collateral or have its interest subordinated to other indebtedness of the obligor. In the event that the administrator or collateral agent of a loan becomes insolvent or enters into receivership or bankruptcy, the Fund may incur costs and delays in realizing payment or may suffer a loss of principal and/or interest. The risk of loss is greater for unsecured or subordinated loans. In addition, senior loan assignments are vulnerable to market, economic or other conditions or events that may reduce the demand for senior loan assignments and certain senior loan assignments which were liquid when purchased, may become illiquid.

The Fund may enter into senior loan assignments where all or a portion of the loan may be unfunded. The Fund is obligated to fund these commitments at the borrower's discretion. These commitments, if any, are generally traded and priced in the same manner as other senior loan securities and are disclosed as unfunded senior loan commitments in the Fund's Portfolio of Investments with a corresponding payable for investments purchased. The Fund designates cash or liquid securities to cover these commitments.

**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.

Columbia Total Return Bond Fund \| 2025

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Notes to Financial Statements (continued)

April 30, 2025

**To be announced securities** 

The Fund may trade securities on a To Be Announced (TBA) basis. As with other delayed-delivery transactions, a seller agrees to issue a TBA security at a future date. However, the seller does not specify the particular securities to be delivered. Instead, the Fund agrees to accept any security that meets specified terms.

In some cases, Master Securities Forward Transaction Agreements (MSFTAs) may be used to govern transactions of certain forward-settling agency mortgage-backed securities, such as delayed-delivery and TBAs, between the Fund and counterparty. The MSFTA maintains provisions for, among other things, initiation and confirmation, payment and transfer, events of default, termination, and maintenance of collateral relating to such transactions.

**Forward sale commitments**

The Fund may enter into forward sale commitments to hedge its portfolio positions or to sell mortgage-backed securities it owns under delayed delivery arrangements. Proceeds of forward sale commitments are not received until the contractual settlement date. While a forward sale commitment is outstanding, equivalent deliverable securities or an offsetting forward purchase commitment deliverable on or before the sale commitment date are used to satisfy the commitment.

Unsettled forward sale commitments are valued at the current market value of the underlying securities, generally according to the procedures described under "Security Valuation" above. The forward sale commitment is "marked-to-market" daily and the change in market value is recorded by the Fund as an unrealized gain or loss. If the forward sale commitment is closed through the acquisition of an offsetting purchase commitment, the Fund realizes a gain or loss. If the Fund delivers securities under the commitment, the Fund realizes a gain or a loss from the sale of the securities based upon the market price established at the date the commitment was entered into.

**Mortgage dollar roll transactions**

The Fund may enter into mortgage "dollar rolls" in which the Fund sells securities for delivery in the current month and simultaneously contracts with the same counterparty to repurchase similar but not identical securities (same type, coupon and maturity) on a specified future date. These transactions may increase the Fund's portfolio turnover rate. During the roll period, the Fund loses the right to receive principal and interest paid on the securities sold. However, the Fund may benefit because it receives negotiated amounts in the form of reductions of the purchase price for the future purchase plus the interest earned on the cash proceeds of the securities sold until the settlement date of the forward purchase. The Fund records the incremental difference between the forward purchase and sale of each forward roll as a realized gain or loss. Unless any realized gains exceed the income, capital appreciation, and gain or loss due to mortgage prepayments that would have been realized on the securities sold as part of the mortgage dollar roll, the use of this technique may diminish the investment performance of the Fund compared to what the performance would have been without the use of mortgage dollar rolls. Mortgage dollar rolls involve the risk that the market value of the securities the Fund is obligated to repurchase may decline below the repurchase price, or that the counterparty may default on its obligations. All cash proceeds will be invested in instruments that are permissible investments for the Fund. The Fund identifies cash or liquid securities in an amount equal to the forward purchase price. The Fund does not currently enter into mortgage dollar rolls that are accounted for as financing transactions.

**Interest only and principal only securities** 

The Fund may invest in Interest Only (IO) or Principal Only (PO) securities. IOs are stripped securities entitled to receive all of the security's interest, but none of its principal. IOs are particularly sensitive to changes in interest rates and therefore subject to greater fluctuations in price than typical interest bearing debt securities. IOs are also subject to credit risk because the Fund may not receive all or part of the interest payments if the issuer, obligor, guarantor or counterparty defaults on its obligation. Payments received for IOs are included in interest income in the Statement of Operations. Because no principal will be received at the maturity of an IO, adjustments are made to the cost of the security on a monthly basis until maturity. These adjustments are included in interest income in the Statement of Operations. POs are stripped securities entitled to receive the principal from the underlying obligation, but not the interest. POs are particularly sensitive to changes in interest rates and therefore are subject to fluctuations in price. POs are also subject to credit risk because the Fund may not receive

Columbia Total Return Bond Fund \| 2025

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Notes to Financial Statements (continued)

April 30, 2025

all or part of its principal if the issuer, obligor, guarantor or counterparty defaults on its obligation. The Fund may also invest in IO or PO stripped mortgage-backed securities. Payments received for POs are treated as reductions to the cost and par value of the securities.

**Offsetting of assets and liabilities** 

The following table presents the Fund's gross and net amount of assets and liabilities available for offset under netting arrangements as well as any related collateral received or pledged by the Fund as of April 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Citi ($)**<sup>(a)</sup> <br>| **Citi ($)**<sup>(a)</sup> <br>| **Goldman** <br>**Sachs** <br>**International ($)**<br>| **JPMorgan ($)** | **Morgan** <br>**Stanley ($)**<sup>(a)</sup> <br>| **Morgan** <br>**Stanley ($)**<sup>(a)</sup> <br>| **Total ($)** |
| **Assets** |  |  |  |  |  |  |  |
| Call option contracts purchased | 7553244<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 182450<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 7735694<br>|
| Put option contracts purchased | 316800<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 659646<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1252710<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 2229156<br>|
| OTC credit default swap contracts <sup>(b)</sup> <br>| -<br>| &nbsp;&nbsp; 3828654<br>| &nbsp;&nbsp; 242178<br>| &nbsp;&nbsp; 1843535<br>| &nbsp;&nbsp; 1490842<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 7405209<br>|
| Total assets | 7870044<br>| &nbsp;&nbsp; 3828654<br>| &nbsp;&nbsp; 1084274<br>| &nbsp;&nbsp; 1843535<br>| &nbsp;&nbsp; 2743552<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 17370059<br>|
| **Liabilities** |  |  |  |  |  |  |  |
| Centrally cleared credit default swap contracts <sup>(c)</sup> <br>| -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 134347<br>| &nbsp;&nbsp; 134347<br>|
| Call option contracts written | 1579040<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1579040<br>|
| OTC credit default swap contracts <sup>(b)</sup> <br>| -<br>| &nbsp;&nbsp; 2474422<br>| &nbsp;&nbsp; 2961118<br>| &nbsp;&nbsp; 2025318<br>| &nbsp;&nbsp; 1367710<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 8828568<br>|
| Total liabilities | 1579040<br>| &nbsp;&nbsp; 2474422<br>| &nbsp;&nbsp; 2961118<br>| &nbsp;&nbsp; 2025318<br>| &nbsp;&nbsp; 1367710<br>| &nbsp;&nbsp; 134347<br>| &nbsp;&nbsp; 10541955<br>|
| **Total financial and derivative net assets** | **6291004**<br>| &nbsp;&nbsp; **1354232**<br>| &nbsp;&nbsp; **(1876844)**<br>| &nbsp;&nbsp; **(181783)**<br>| &nbsp;&nbsp; **1375842**<br>| &nbsp;&nbsp; **(134347)**<br>| &nbsp;&nbsp; **6828104**<br>|
| Total collateral received (pledged) <sup>(d)</sup> <br>| 6232000<br>| &nbsp;&nbsp; 1354232<br>| &nbsp;&nbsp; (870000)<br>| &nbsp;&nbsp; (181783)<br>| &nbsp;&nbsp; 1375842<br>| &nbsp;&nbsp; (134347)<br>| &nbsp;&nbsp; 7775944<br>|
| **Net amount** <sup>(e)</sup> <br>| **59004**<br>| &nbsp;&nbsp; **-**<br>| &nbsp;&nbsp; **(1006844)**<br>| &nbsp;&nbsp; **-**<br>| &nbsp;&nbsp; **-**<br>| &nbsp;&nbsp; **-**<br>| &nbsp;&nbsp; **(947840)**<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Exposure can only be netted across transactions governed under the same master agreement
 with the same legal entity.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Over-the-Counter (OTC) swap contracts are presented at market value plus periodic
 payments receivable (payable), which is comprised of unrealized appreciation, unrealized depreciation, upfront payments and upfront receipts.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Centrally cleared swaps are included within payable/receivable for variation margin
 in the Statement of Assets and Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;(d) In some instances, the actual collateral received and/or pledged may be more than
 the amount shown due to overcollateralization.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Represents the net amount due from/(to) counterparties in the event of default.

**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.

The trade date for senior loans purchased in the primary market is the date on which the loan is allocated. The trade date for senior loans purchased in the secondary market is the date on which the transaction is entered into.

**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. For convertible securities, premiums attributable to the conversion feature are not amortized.

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.

Corporate actions and dividend income are recorded on the ex-dividend date.

Columbia Total Return Bond Fund \| 2025

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Notes to Financial Statements (continued)

April 30, 2025

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.

The value of additional securities received as an income payment through a payment-in-kind, if any, is recorded as interest income and increases the cost basis of such securities.

The Fund may receive other income from senior loans, including amendment fees, consent fees and commitment fees. These fees are recorded as income when received by the Fund. These amounts are included in Interest Income in the Statement of Operations.

**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.

**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.

Columbia Total Return Bond Fund \| 2025

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Notes to Financial Statements (continued)

April 30, 2025

**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.

**Recent accounting pronouncements and regulatory updates**

*Accounting Standards Update 2023-09 Income Taxes (Topic 740)*

In December 2023, the FASB issued Accounting Standards Update No. 2023-09 Income Taxes (Topic 740) Improvements to Income Tax Disclosures. The amendments were issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation and income taxes paid information. The amendments are effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management expects that the adoption of the amendments will not have a material impact on its financial statements.

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, as well as 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 0.50% to 0.34% as the Fund's net assets increase. The effective management services fee rate for the year ended April 30, 2025 was 0.48% 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 Bond Fund \| 2025

------

Notes to Financial Statements (continued)

April 30, 2025

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. In addition, effective September 1, 2024 through August 31, 2025, Institutional 2 Class shares are subject to a contractual transfer agency fee annual limitation of not more than 0.03% and Institutional 3 Class shares are subject to a contractual transfer agency fee annual limitation of not more than 0.00% of the average daily net assets attributable to each share class.

For the year ended April 30, 2025, the Fund's effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.11 |
| Advisor Class | 0.06 <br><sup>(a)</sup><br>|
| Class C | 0.11 |
| Institutional Class | 0.11 |
| Institutional 2 Class | 0.04 |
| Institutional 3 Class | 0.00 |
| Class R | 0.11 |
| Class S | 0.11 <br><sup>(b)</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Unannualized.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Annualized.

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 year ended April 30, 2025, these minimum account balance fees reduced total expenses of the Fund by $1,231.

**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 0.25% 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 rates of 0.10%, 0.75% and 0.50% of the average daily net assets attributable to Class A, Class C 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.

Columbia Total Return Bond Fund \| 2025

------

Notes to Financial Statements (continued)

April 30, 2025

**Sales charges (unaudited)**

Sales charges, including front-end charges and contingent deferred sales charges (CDSCs), received by the Distributor for distributing Fund shares for the year ended April 30, 2025, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 3.00<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 329356 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5582 |

---

&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; **September 1, 2024** <br>**through** <br>**August 31, 2025 (%)**<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>**September 1, 2024 (%)**<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;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;&nbsp;&nbsp;&nbsp;&nbsp;0.74 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| 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;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;&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 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.41 |
| 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;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.37 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.99 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

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, 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. Reflected in the contractual cap commitment, effective September 1, 2024, is the Transfer Agent's contractual agreement to limit total transfer agency fees to an annual rate of not more than 0.03% for Institutional 2 Class and 0.00% for Institutional 3 Class of the average daily net assets attributable to each share class. 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.

Columbia Total Return Bond Fund \| 2025

------

Notes to Financial Statements (continued)

April 30, 2025

At April 30, 2025, these differences were primarily due to differing treatment for deferral/reversal of wash sale losses, derivative investments, swap investments, tax straddles, principal and/or interest from fixed income securities, defaulted securities/troubled debt, capital loss carryforwards, trustees' deferred compensation, distributions and foreign currency transactions. To the extent these differences were permanent, reclassifications were made among the components of the Fund's net assets. Temporary differences do not require reclassifications.

The following reclassifications were made:

---

| | | |
|:---|:---|:---|
| **Undistributed net** <br>**investment** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Accumulated** <br>**net realized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(loss) ($)**<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; **Paid in** <br>**capital ($)**<br>|
| (2673741)<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; 2673742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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)<br>|

---

Net investment income (loss) and net realized gains (losses), as disclosed in the Statement of Operations, and net assets were not affected by this reclassification.

The tax character of distributions paid during the years indicated was as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Year Ended April 30, 2025** | **Year Ended April 30, 2025** | **Year Ended April 30, 2025** | **Year Ended April 30, 2024** | **Year Ended April 30, 2024** | **Year Ended April 30, 2024** |
| **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ordinary** <br>**income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Long-term** <br>**capital gains ($)**<br>| **Total ($)** |
| 138358927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138358927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146338272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146338272 |

---

Short-term capital gain distributions, if any, are considered ordinary income distributions for tax purposes.

At April 30, 2025, the components of distributable earnings on a tax basis were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed** <br>**ordinary income ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Undistributed** <br>**long-term** <br>**capital gains ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital loss** <br>**carryforwards ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>|
| 13152734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (561012343)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (105317679)<br>|

---

At April 30, 2025, the cost of all investments for federal income tax purposes along with the aggregate gross 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>|
| 3274008352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33131924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (138449603)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (105317679)<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 April 30, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code. In addition, for the year ended April 30, 2025, capital loss carryforwards utilized, if any, were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** | **Utilized ($)** |
| (241496510)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (319515833)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (561012343)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17445474 |

---

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.

Columbia Total Return Bond Fund \| 2025

------

Notes to Financial Statements (continued)

April 30, 2025

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $6,855,339,314 and $6,956,711,564, respectively, for the year ended April 30, 2025, of which $5,586,703,665 and $5,629,235,980, 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 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's activity in the Interfund Program during the year ended April 30, 2025 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Borrower or lender** | **Average loan** <br>**balance ($)**<br>| &nbsp;&nbsp;&nbsp; **Weighted average** <br>**interest rate (%)**<br>| &nbsp;&nbsp;&nbsp; **Number of days** <br>**with outstanding loans**<br>|
| Lender | 1093750 | &nbsp;&nbsp;&nbsp;&nbsp;5.52 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |

---

Interest income earned by the Fund is recorded as Interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at April 30, 2025.

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 24, 2024 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 $900 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 24, 2024 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.

Columbia Total Return Bond Fund \| 2025

------

Notes to Financial Statements (continued)

April 30, 2025

The Fund had no borrowings during the year ended April 30, 2025.

Note 9. Significant risks

**Credit risk**

Credit risk is the risk that the value of debt instruments in the Fund's portfolio may decline because the issuer defaults or otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations, such as making payments to the Fund when due. Credit rating agencies assign credit ratings to certain debt instruments to indicate their credit risk. Lower-rated or unrated debt instruments held by the Fund may present increased credit risk as compared to higher-rated debt instruments.

**Derivatives risk**

Losses involving derivative instruments may be substantial, because a relatively small movement in the underlying reference (which is generally the price, rate or other economic indicator associated with a security(ies), commodity, currency, index or other instrument or asset) may result in a substantial loss for the Fund. In addition to the potential for increased losses, the use of derivative instruments may lead to increased volatility within the Fund. Derivatives will typically increase the Fund's exposure to principal risks to which it is otherwise exposed, and may expose the Fund to additional risks, including correlation risk, counterparty risk, hedging risk, leverage risk, liquidity risk and pricing risk.

**High-yield investments risk**

Securities and other debt instruments held by the Fund that are rated below investment grade (commonly called "high-yield" or "junk" bonds) and unrated debt instruments of comparable quality expose the Fund to a greater risk of loss of principal and income than a fund that invests solely or primarily in investment grade debt instruments. In addition, these investments have greater price fluctuations, are less liquid and are more likely to experience a default than higher-rated debt instruments. High-yield debt instruments are considered to be predominantly speculative with respect to the issuer's capacity to pay interest and repay principal.

**Interest rate risk**

Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt instruments tend to rise. Changes in the value of a debt instrument usually will not affect the amount of income the Fund receives from it but will generally affect the value of your investment in the Fund. Changes in interest rates may also affect the liquidity of the Fund's investments in debt instruments. In general, the longer the maturity or duration of a debt instrument, the greater its sensitivity to changes in interest rates. For example, a three-year duration means a bond is expected to decrease in value by 3% if interest rates rise 1% and increase in value by 3% if interest rates fall 1%. Interest rate declines also may increase prepayments of debt obligations, which, in turn, would increase prepayment risk. The Fund is subject to the risk that the income generated by its investments may not keep pace with inflation. Actions by governments and central banking authorities can result in increases or decreases in interest rates. Higher periods of inflation could lead such authorities to raise interest rates. Such actions may negatively affect the value of debt instruments held by the Fund, resulting in a negative impact on the Fund's performance and NAV. Any interest rate increases could cause the value of the Fund's investments in debt instruments to decrease. Rising interest rates may prompt redemptions from the Fund, which may force the Fund to sell investments at a time when it is not advantageous to do so, which could result in losses.

**Liquidity risk**

Liquidity risk is the risk associated with any event, circumstance, or characteristic of an investment or market that negatively impacts the Fund's ability to sell, or realize the proceeds from the sale of, an investment at a desirable time or price. Liquidity risk may arise because of, for example, a lack of marketability of the investment, which means that when seeking to sell its portfolio investments, the Fund could find that selling is more difficult than anticipated, especially during times of high market volatility. Market participants attempting to sell the same or a similar instrument at the same time as the Fund could exacerbate the Fund's exposure to liquidity risk. The Fund may have to accept a lower selling price for the holding, sell other liquid or more liquid investments that it might otherwise prefer to hold (thereby increasing the proportion of the Fund's investments in less liquid or illiquid securities), or forego another more appealing investment opportunity. The liquidity of

Columbia Total Return Bond Fund \| 2025

------

Notes to Financial Statements (continued)

April 30, 2025

Fund investments may change significantly over time and certain investments that were liquid when purchased by the Fund may later become illiquid, particularly in times of overall economic distress. Changing regulatory, market or other conditions or environments (for example, the interest rate or credit environments) may also adversely affect the liquidity and the price of the Fund's investments. Judgment plays a larger role in valuing illiquid or less liquid investments as compared to valuing liquid or more liquid investments. Price volatility may be higher for illiquid or less liquid investments as a result of, for example, the relatively less frequent pricing of such securities (as compared to liquid or more liquid investments). Generally, the less liquid the market at the time the Fund sells a portfolio investment, the greater the risk of loss or decline of value to the Fund. Overall market liquidity and other factors can lead to an increase in redemptions, which may negatively impact Fund performance and NAV, including, for example, if the Fund is forced to sell investments in a down market.

**Market risk**

The Fund may incur losses due to declines in the value of one or more securities in which it invests. 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. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Fund's ability to price or value hard-to-value assets in thinly traded and closed markets and could cause significant redemptions and operational challenges. 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.

The large-scale invasion of Ukraine by Russia in February 2022 has resulted in sanctions and market disruptions, including declines in regional and global stock markets, unusual volatility in global commodity markets and significant devaluations of Russian currency. The extent and duration of the military action are impossible to predict but could continue to be significant. Market disruption caused by the Russian military action, and any countermeasures or responses thereto (including international sanctions, a downgrade in a country's credit rating, purchasing and financing restrictions, boycotts, tariffs, changes in consumer or purchaser preferences, cyberattacks and espionage) could continue to have severe adverse impacts on regional and/or global securities and commodities markets, including markets for oil and natural gas. These impacts may include reduced market liquidity, distress in credit markets, further disruption of global supply chains, increased risk of inflation, restricted cross-border payments and limited access to investments and/or assets in certain international markets and/or issuers. These developments and other related events could negatively impact Fund performance.

**Mortgage- and other asset-backed securities risk**

The value of any mortgage-backed and other asset-backed securities including collateralized debt obligations, if any, held by the Fund may be affected by, among other things, changes or perceived changes in: interest rates; factors concerning the interests in and structure of the issuer or the originator of the mortgages or other assets; the creditworthiness of the entities that provide any supporting letters of credit, surety bonds or other credit enhancements; or the market's assessment of the quality of underlying assets. Payment of principal and interest on some mortgage-backed securities (but not the market value of the securities themselves) may be guaranteed by the full faith and credit of a particular U.S. Government agency, authority, enterprise or instrumentality, and some, but not all, are also insured or guaranteed by the U.S. Government. Mortgage-backed securities issued by non-governmental issuers (such as commercial banks, savings and loan institutions, private mortgage insurance companies, mortgage bankers and other secondary market issuers) may entail greater risk than obligations guaranteed by the U.S. Government. Mortgage- and other asset-backed securities are subject to liquidity risk and prepayment risk. A decline or flattening of housing values may cause delinquencies in mortgages (especially sub-prime or non-prime mortgages) underlying mortgage-backed securities and thereby adversely affect the ability of the mortgage-backed securities issuer to make principal and/or interest payments to mortgage-backed securities holders, including the Fund. Rising or high interest rates tend to extend the duration of mortgage- and other asset-backed securities, making their prices more volatile and more sensitive to changes in interest rates.

Columbia Total Return Bond Fund \| 2025

------

Notes to Financial Statements (continued)

April 30, 2025

**Shareholder concentration risk**

At April 30, 2025, affiliated shareholders of record owned 46.9% 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 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 Total Return Bond Fund \| 2025

------

Report of Independent Registered Public Accounting Firm

**To the Board of Trustees of Columbia Funds Series Trust I and Shareholders of Columbia Total Return Bond Fund**

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Columbia Total Return Bond Fund (one of the funds constituting Columbia Funds Series Trust I, referred to hereafter as the "Fund") as of April 30, 2025, the related statement of operations for the year ended April 30, 2025, the statement of changes in net assets for each of the two years in the period ended April 30, 2025, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of April 30, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended April 30, 2025 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of April 30, 2025 by correspondence with the custodian, transfer agent, brokers and agent banks; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Minneapolis, Minnesota

June 18, 2025

We have served as the auditor of one or more investment companies within the Columbia Funds Complex since 1977.

Columbia Total Return Bond Fund \| 2025

------

Federal Income Tax Information

(Unaudited)

The Fund hereby designates the following tax attributes for the fiscal year ended April 30, 2025. Shareholders will be notified in early 2026 of the amounts for use in preparing 2025 income tax returns.

---

| |
|:---|
| **Section** <br>**163(j)** <br>**Interest** <br>**Dividends**<br>|
| 100.00% |

---

Section 163(j) Interest Dividends. The percentage of ordinary income distributed during the fiscal year that shareholders may treat as interest income for purposes of IRC Section 163(j), subject to holding period requirements and other limitations.

Columbia Total Return Bond Fund \| 2025

------

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[THIS PAGE INTENTIONALLY LEFT BLANK]

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**Columbia Total Return Bond Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](imgab318f912.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 (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2025 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

ANN166_04_R01_(06/25)

------

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 directors 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 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 attached hereto as Exhibit 99.CODE ETH.](Code_of_Ethics.htm)

[(a)(2) 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.](302_Certification.htm)

[(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.](906_Certification.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.

---

| | |
|:---|:---|
| &nbsp;&nbsp;(registrant) | &nbsp;&nbsp;Columbia Funds Series Trust I |
| &nbsp;&nbsp;By (Signature and Title) | &nbsp;&nbsp;/s/ Daniel J. Beckman |
|  | &nbsp;&nbsp;Daniel J. Beckman, President and Principal Executive Officer |
| &nbsp;&nbsp;Date | &nbsp;&nbsp;June 18, 2025 |

---

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.

---

| | |
|:---|:---|
| &nbsp;&nbsp;By (Signature and Title) | &nbsp;&nbsp;/s/ Daniel J. Beckman |
|  | &nbsp;&nbsp;Daniel J. Beckman, President and Principal Executive Officer |
| &nbsp;&nbsp;Date | &nbsp;&nbsp;June 18, 2025 |
| &nbsp;&nbsp;By (Signature and Title) | &nbsp;&nbsp; /s/ Michael G. Clarke |
|  | &nbsp;&nbsp;Michael G. Clarke, Chief Financial Officer, |
|  | &nbsp;&nbsp;Principal Financial Officer and Senior Vice President |
| &nbsp;&nbsp;Date | &nbsp;&nbsp;June 18, 2025 |
| &nbsp;&nbsp;By (Signature and Title) | &nbsp;&nbsp;/s/ Charles H. Chiesa |
|  | &nbsp;&nbsp;Charles H. Chiesa, Treasurer, Chief Accounting |
|  | &nbsp;&nbsp;Officer and Principal Financial Officer |
| &nbsp;&nbsp;Date | &nbsp;&nbsp;June 18, 2025 |

---

------

## Ex-99.Code

![Image is missing](g5e1u0h3zlu7jv1m848d9.jpg)

**Fund Policy: Code of Ethics for Principal Executive & Senior Financial Officers**

**COLUMBIA FUNDS**

**WANGER ADVISORS TRUST / COLUMBIA ACORN TRUST**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Applicable Regulatory Authority** | &nbsp;&nbsp;&nbsp;Section 406 of the Sarbanes-Oxley Act of 2002; |
|  | &nbsp;&nbsp;&nbsp;Item 2 of Form N-CSR |
| &nbsp;&nbsp;**Related Policies** | &nbsp;&nbsp;&nbsp;Overview and Implementation of Compliance Program |
|  | &nbsp;&nbsp;&nbsp;Policy |
| &nbsp;&nbsp;**Requires Annual Board Approval** | &nbsp;&nbsp;&nbsp;No but Covered Officers Must provide annual |
|  | &nbsp;&nbsp;&nbsp;certification |
| &nbsp;&nbsp;**Last Reviewed by AMC** | &nbsp;&nbsp;&nbsp;September 2024 |

---

**<u>Overview and Statement</u>**

Item 2 of Form N-CSR, the form used by registered management investment companies to file certified annual and semi-annual shareholder reports, requires a registered management investment company to disclose:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Whether it has adopted a code of ethics that applies to the investment company's principal executive officer and senior financial officers and, if it has not adopted such a code of ethics, why it has not done so; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Any amendments to, or waivers from, the code of ethics relating to such officers.

The Boards (the Board of the Columbia Funds ("Columbia Board") and the Boards of the Columbia Acorn Trust ("CAT") and the Wanger Advisors Trust ("WAT") (collectively, "Columbia Acorn Board" and together with the Columbia Board, the "Boards") have adopted the following Code of Ethics for Principle Executive and Senior Financial Officers (the "Code"), which sets forth the ethical standards to which the Funds holds their principal executive officer and each of its senior financial officers.

This Code should be read and interpreted in conjunction with the Overview and Implementation of Compliance Program Policy.

**<u>Policy</u>**

The Boards have adopted the Code in order to comply with applicable regulatory requirements as outlined below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**I.Covered Officers/Purpose of the Code**

This Code applies to the Fund's Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer or Controller (the "Covered Officers") for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.

Proprietary and Confidential Page 1 of 9

![Image is missing](gyygjikqo0ynbkv40au64.jpg)

**Fund Policy: Code of Ethics for Principal Executive & Senior Financial Officers**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the SEC, and in other public communications made by the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual or apparent conflicts of interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**II.Administration of the Code**

The Boards have designated an individual to be primarily responsible for the administration of the Code (the "Code Officer"). In the absence of the Code Officer, his or her designee shall serve as the Code Officer, but only on a temporary basis.

The Boards have designated a person who meets the definition of a Chief Legal Officer (the "CLO") for purposes of the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder as the Fund's CLO. The CLO of the Fund shall assist the Fund's Code

Officer in administration of this Code. The Code Officer, in consultation with the CLO, shall be responsible for applying this Code to specific situations (in consultation with Fund counsel, where appropriate) and has the authority to interpret this Code in any particular situation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**III.Managing Conflicts of Interest**

A "conflict of interest" occurs when a Covered Officer's personal interest interferes with the interests of, or his or her service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his or her family, receives improper personal benefits as a result of the Covered Officer's position with the Fund. Certain provisions in the 1940 Act and the rules and regulations thereunder and the Advisers Act and the rules and regulations thereunder govern certain conflicts of interest that arise out of the relationships between Covered Officers and the Fund. If such conflicts are addressed in conformity with applicable provisions of the 1940 Act and the Advisers Act, they will be deemed to have been handled ethically. The Fund's and its Adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of those provisions. This Code does not, and is not intended to, repeat or replace those programs and procedures, and conduct that is consistent with such programs and procedures falls outside of the parameters of this Code.

Although they do not typically present an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationships between the Fund and, as applicable, its Adviser (Columbia Management Investment Advisers, LLC

This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.

Proprietary and Confidential Page 2 of 9

![Image is missing](gidng7fy1ngtzz0x7xhbg.jpg)

**Fund Policy: Code of Ethics for Principal Executive & Senior Financial Officers**

("CMIA") for the Columbia Funds and Columbia Wanger Asset Management, LLC ("CWAM") for the WAT / CAT Funds), administrator, principal underwriter, pricing and bookkeeping agent and/or transfer agent (each, a "Primary Service Provider") of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fund or for a Primary Service Provider, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Primary Service Providers and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationships between the Fund and the Primary Service Providers and is consistent with the performance by the Covered Officers of their duties as officers of the Fund. If such conflicts are addressed in conformity with applicable provisions of the 1940 Act and the Advisers Act, they will be deemed to have been handled ethically. In addition, it is recognized by the Boards of the Funds that the Covered Officers also may be officers or employees of one or more other investment companies or organizations affiliated with the sponsor of the Funds covered by other similar codes and that the codes of ethics of those other investment companies or organizations will apply to the Covered Officers acting in such capacities for such other investment companies.

This Code covers general conflicts of interest and other issues applicable to the Funds under the Sarbanes-Oxley Act of 2002. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interests of the Funds. Certain examples of such conflicts of interest follow.

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Not use his or her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer, or a member of his or her family, would knowingly benefit personally to the detriment of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Not knowingly cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer, or a member of his or her family, rather than the benefit of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Not use material non-public knowledge of portfolio transactions made or contemplated for the Fund to trade personally or cause others to trade personally in contemplation of the market effect of such transactions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Report at least annually (or more frequently, as appropriate) known affiliations or other relationships that may give rise to conflicts of interest with respect to the Fund.

If a Covered Officer believes that he or she has a potential conflict of interest that is likely to materially compromise his or her objectivity or his or her ability to perform the duties of his or her role as a Covered Officer, including a potential conflict of interest that arises out of his or her responsibilities as an officer or employee of one or more Primary

This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.

Proprietary and Confidential Page 3 of 9

![Image is missing](grfzm6wzzwlx929rlbzc3.jpg)

**Fund Policy: Code of Ethics for Principal Executive & Senior Financial Officers**

Service Providers or other funds, he or she should consult with the Code Officer, the CLO, the Fund's outside counsel, or counsel to the Independent Board Members, as appropriate.

Examples of potential conflicts of interest that may materially compromise objectivity or ability to perform the duties of a Covered Officer and which the Covered Officer should consider discussing with the Code Officer or other appropriate person include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Service as a director on the board of a public or private company or service as a public official;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The receipt of a non-de minimus gift when the gift is in relation to doing business directly or indirectly with the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The receipt of entertainment from any company with which the Fund has current or prospective business dealings, unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•An ownership interest in, or any consulting or employment relationship with, any of the Fund's service providers, other than the Primary Service Providers or any affiliated person thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•A direct or indirect material financial interest in commissions, transaction charges or spreads paid by the Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. Disclosure and Compliance

It is the responsibility of each Covered Officer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•To familiarize himself or herself with the disclosure requirements generally applicable to the Fund, as well as the business and financial operations of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•To not knowingly misrepresent, and to not knowingly cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's Board, Legal Counsel, Independent Legal Counsel and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•To the extent appropriate within his or her area of responsibility, consult with other officers and employees of the Fund and the Primary Service Providers with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•To adhere to and, within his or her area of responsibility, promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.

Proprietary and Confidential Page 4 of 9

![Image is missing](glo0j5objxw2tjpd2d0ab.jpg)

**Fund Policy: Code of Ethics for Principal Executive & Senior Financial Officers**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**V.Reporting and Accountability by Covered Officers** Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Upon adoption of the Code or becoming a Covered Officer, acknowledge in writing to the Fund's Board that he or she has received, read and understands the Code, using the form attached as Appendix A hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Annually thereafter acknowledge in writing to the Fund's Board that he or she has received and read the Code and believes that he or she has complied with the requirements of the Code, using the form attached as Appendix B hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Not retaliate against any employee or Covered Officer for reports of potential violations that are made in good faith; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Notify the Code Officer promptly if he or she knows of any violation, or of conduct that reasonably could be expected to be or result in a violation, of this Code. Failure to do so is a violation of this Code.

The Fund will follow the policy set forth below in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Code Officer will endeavor to take all appropriate action to investigate any potential violation reported to him or her;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•If, after such investigation, the Code Officer believes that no violation has occurred, the Code Officer will so notify the person(s) reporting the potential violation, and no further action is required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Any matter that the Code Officer, upon consultation with the CLO, believes is a violation will be reported by the Code Officer or the CLO to the Fund's Audit

Committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Fund's Audit Committee will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•This Code and any changes to or waivers of the Code will, to the extent required, be disclosed as provided by SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VI. Other Policies

This Code shall be the sole code of ethics adopted by the Fund for the purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered management investment companies thereunder. Insofar as other policies or procedures of the Fund or the Fund's Primary Service Providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they conflict with the provisions of this Code. The Fund's and its Adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the 1940 Act and the more detailed policies and procedures of the

This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.

Proprietary and Confidential Page 5 of 9

![Image is missing](ggy42ikwq9cwy58u2eghi.jpg)

**Fund Policy: Code of Ethics for Principal Executive & Senior Financial Officers**

Primary Service Providers as set forth in their respect Compliance Manuals are separate requirements applicable to the Covered Officers and are not part of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VII. Disclosure of Amendments to the Code

Any amendments will, to the extent required, be disclosed in accordance with law.

&nbsp;&nbsp;&nbsp;&nbsp;VIII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code or upon advice of counsel, such reports and records shall not be disclosed to anyone other than the Fund's Board, the Covered Officers, the Code Officer, the CLO, the Fund's Primary Service Providers and their affiliates, and outside audit firms, legal counsel to the Fund and legal counsel to the Independent Board Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IX. Internal Use

The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.

**Reporting Requirements**

Each Covered Officer must annually acknowledge in writing to the Fund's Board that he or she has received and read the Code and believes that he or she has complied with the requirements of the Code, using the form attached as Appendix II hereto.

The Code Officer or CLO shall report to the Fund's Audit Committee any violations of, or material issues arising under, this Code.

If the Audit Committee concurs that a violation has occurred, it will inform and make a recommendation to the Fund's Board, which will consider appropriate action, which may include review of, and appropriate modifications to: Applicable policies and procedures; Notification to the appropriate personnel of the Fund's Primary Service Providers or their boards; A recommendation to censure, suspend or dismiss the Covered Officer; or Referral of the matter to the appropriate authorities for civil action or criminal prosecution.

All material amendments to this Code must be in writing and approved or ratified by the Fund's Board, including a majority of the Independent Board Members.

The Code Officer, in conjunction with the CLO, shall be responsible for administration of this Code and for adopting procedures to ensure compliance with the requirements set forth herein.

Any issues that arise under this policy should be communicated to an employee's immediate supervisor, and appropriately escalated to AMC. Additionally, AMC will escalate any compliance issues relating to this Code to the Fund CCO and, if warranted, the appropriate Fund Board.

This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.

Proprietary and Confidential Page 6 of 9

![Image is missing](gkf20i4qcvo7ap0mnky0k.jpg)

**Fund Policy: Code of Ethics for Principal Executive & Senior Financial Officers**

**Monitoring/Oversight/Escalation**

The Code Officer shall be responsible for oversight of compliance with this Code by the Covered Officers. AMC and Ameriprise Risk & Control Services may perform periodic reviews and assessments of various lines of business, including their compliance with this Code.

**Recordkeeping**

All records must be maintained for at least seven years, the first three in the appropriate Ameriprise Financial, Inc. management office. The following records will be maintained to evidence compliance with this Code: (1) a copy of the information or materials supplied to the Audit Committee or the Board: (i) that provided the basis for any amendment or waiver to this Code; and (ii) relating to any violation of the Code and sanctions imposed for such violation, together with a written record of the approval or action taken by the Audit Committee and/or Board; (2) a copy of the policy and any amendments; and (3) a list of Covered Officers and reporting by Covered Officers.

This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.

Proprietary and Confidential Page 7 of 9

**Appendix A**

**INITIAL ACKNOWLEDGEMENT**

I acknowledge that I have received and read a copy of the Code of Ethics for Principal Executive and Senior Financial Officers (the "Code") and that I understand it. I further acknowledge that I am responsible for understanding and complying with the policies set forth in the Code during my tenure as a Covered Officer, as defined in the Code.

I have set forth below (and on attached sheets of paper, if necessary) all known affiliations or other relationships that may give rise to conflicts of interest for me with respect to the Fund.

______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

I also acknowledge my responsibility to report any known violation of the Code to the Code Officer, the CLO, the Fund's outside counsel, or counsel to the Independent Board Members, all as defined in this Code. I further acknowledge that the policies contained in the Code are not intended to create any contractual rights or obligations, express or implied. I also understand that, consistent with applicable law, the Fund has the right to amend, interpret, modify or withdraw any of the provisions of the Code at any time in its sole discretion, with or without notice.

**Covered Officer Name and Title: <u>_______________________________________________</u>**

(please print)

<u>____________________________________________________________________________</u>

SignatureDate

Please return this completed form to the CLO (_______) within one week from the date of your

review of these documents. Thank you!

![Image is missing](grlal04oavaoxirr0w4je.jpg)

**Appendix B**

**ANNUAL ACKNOWLEDGEMENT**

I acknowledge that I have received and read a copy of the Code of Ethics for Principal Executive and Senior Financial Officers (the "Code") and that I understand it. I further acknowledge that I am responsible for understanding and complying with the policies set forth in the Code during my tenure as a Covered Officer, as defined in the Code.

I also acknowledge that I believe that I have fully complied with the terms and provisions of the Code during the period of time since the most recent Initial or Annual Acknowledgement provided by me except as described below.

______________________________________________________________

______________________________________________________________

______________________________________________________________

I have set forth below (and on attached sheets of paper, if necessary) all known affiliations or other relationships that may give rise to conflicts of interest for me with respect to the Fund.<sup>1</sup>

______________________________________________________________

______________________________________________________________

______________________________________________________________

______________________________________________________________

I further acknowledge that the policies contained in the Code are not intended to create any contractual rights or obligations, express or implied. I also understand that, consistent with applicable law, the Fund has the right to amend, interpret, modify or withdraw any of the provisions of the Code at any time in its sole discretion, with or without notice.

**Covered Officer Name and Title: <u>_______________________________________________</u>**

(please print)

<u>____________________________________________________________________________</u>

SignatureDate

Please return this completed form to the CLO (_______) within one week from the date of your

receipt of a request to complete and return it. Thank you!

1It is acceptable to refer to affiliations and other relationships previously disclosed in prior Initial or Annual Acknowledgements without setting forth such affiliations and relationships again.

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## Ex-99.Cert

I, Daniel J. Beckman, 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;&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;&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;&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;&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 directors (or persons performing the equivalent functions):

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

---

| | |
|:---|:---|
| Date: June 18, 2025 | &nbsp;&nbsp;/s/ Daniel J. Beckman |
|  | Daniel J. Beckman, President and Principal |
|  | Executive Officer |

---

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;&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;&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;&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;&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 directors (or persons performing the equivalent functions):

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

---

| | |
|:---|:---|
| Date: June 18, 2025 | /s/ Michael G. Clarke |
|  | Michael G. Clarke, Chief Financial Officer, |
|  | Principal Financial Officer and Senior Vice |
|  | President |

---

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;&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;&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;&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;&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 directors (or persons performing the equivalent functions):

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

---

| | |
|:---|:---|
| Date: June 18, 2025 | /s/ Charles H. Chiesa |
|  | Charles H. Chiesa, Treasurer, Chief Accounting |
|  | Officer and Principal Financial Officer |

---

------

## Exhibit 99.906

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 April 30, 2025 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.

---

| | |
|:---|:---|
| Date: June 18, 2025  | <u>/s/ Daniel J. Beckman&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
|  | Daniel J. Beckman, President and Principal Executive Officer  |

---

---

| | |
|:---|:---|
| Date: June 18, 2025  | <u>/s/ Michael G. Clarke</u>  |
|  | Michael G. Clarke, Chief Financial Officer,  |
|  | Principal Financial Officer and Senior Vice President  |

---

---

| | |
|:---|:---|
| Date: June 18, 2025  | <u>/s/ Charles H. Chiesa</u>  |
|  | Charles H. Chiesa, Treasurer, Chief Accounting  |
|  | Officer and Principal Financial Officer  |

---

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.

------