# EDGAR Filing Document

**Accession Number:** 0001352280
**File Stem:** 0001193125-23-050064
**Filing Date:** 2023-2
**Character Count:** 40304
**Document Hash:** 13fa01f810057e8609b8f0f642b50d4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-050064.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001193125-23-050064

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**EFFECTIVENESS DATE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Columbia Funds Series Trust II
- **CENTRAL INDEX KEY:** 0001352280
- **IRS NUMBER:** 204384176
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-131683
- **FILM NUMBER:** 23670844

**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:** RIVERSOURCE SERIES TRUST
- **DATE OF NAME CHANGE:** 20070928

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RIVERSOURCE RETIREMENT SERIES TRUST
- **DATE OF NAME CHANGE:** 20060801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RiverSource Retirement Series Trust
- **DATE OF NAME CHANGE:** 20060206

## Series and Classes Contracts Data

### Columbia Seligman Global Technology Fund (Series ID: S000031372)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000097563 | Columbia Seligman Global Technology Fund Class A               | SHGTX           |
| C000097565 | Columbia Seligman Global Technology Fund Class C               | SHTCX           |
| C000097567 | Columbia Seligman Global Technology Fund Class R               | SGTRX           |
| C000097569 | Columbia Seligman Global Technology Fund Institutional 2 Class | SGTTX           |
| C000097570 | Columbia Seligman Global Technology Fund Institutional Class   | CSGZX           |
| C000122764 | Columbia Seligman Global Technology Fund Advisor Class         | CCHRX           |
| C000184720 | Columbia Seligman Global Technology Fund Institutional 3 Class | CGTYX           |

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#### Summary Prospectus
March 1, 2023<br>

Columbia Seligman Global Technology Fund

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

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| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;**Ticker Symbol** |
| A | &nbsp;&nbsp;&nbsp;&nbsp;SHGTX |
| Advisor (Class Adv) | &nbsp;&nbsp;&nbsp;&nbsp;CCHRX |
| C | &nbsp;&nbsp;&nbsp;&nbsp;SHTCX |
| Institutional (Class Inst) | &nbsp;&nbsp;&nbsp;&nbsp;CSGZX |
| Institutional 2 (Class Inst2) | &nbsp;&nbsp;&nbsp;&nbsp;SGTTX |
| Institutional 3 (Class Inst3) | &nbsp;&nbsp;&nbsp;&nbsp;CGTYX |
| R | &nbsp;&nbsp;&nbsp;&nbsp;SGTRX |

---

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders, statement of additional information and other information about the Fund online at https://www.columbiathreadneedleus.com/resources/literature. If you hold your Fund shares through a financial intermediary (such as a broker-dealer or bank), you can get this information at no cost by contacting that financial intermediary. If you hold your Fund shares directly with the Fund, you can get this information at no cost by calling 800.345.6611 or by sending an email to serviceinquiries@columbiathreadneedle.com. This Summary Prospectus incorporates by reference the Fund's prospectus, dated March 1, 2023, and current Statement of Additional Information.

As with all mutual funds, the Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.

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#### Investment Objective
Columbia Seligman Global Technology Fund (the Fund) seeks to provide shareholders with long-term capital appreciation.

#### Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the *Choosing a Share Class* section beginning on page 25 of the Fund's prospectus, in *Appendix A* to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under *Sales Charge Waivers* beginning on page S-1.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** |
| | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Classes Adv,<br> Inst, Inst2, Inst3 and R** |
| &nbsp;&nbsp;Maximum sales charge (load) imposed on purchases (as a % of offering price) | &nbsp;&nbsp;5.75% |  |  |
| &nbsp;&nbsp;Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) | &nbsp;&nbsp;1.00% <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;1.00% <sup>(b)</sup> |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** |
| | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class Adv** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Class Inst** | &nbsp;&nbsp;**Class Inst2** | &nbsp;&nbsp;**Class Inst3** | &nbsp;&nbsp;**Class R** |
| &nbsp;&nbsp;Management fees | &nbsp;&nbsp;0.91% | &nbsp;&nbsp;0.91% | &nbsp;&nbsp;0.91% | &nbsp;&nbsp;0.91% | &nbsp;&nbsp;0.91% | &nbsp;&nbsp;0.91% | &nbsp;&nbsp;0.91% |
| &nbsp;&nbsp;Distribution and/or service (12b-1) fees | &nbsp;&nbsp;0.25% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;0.50% |
| &nbsp;&nbsp;Other expenses | &nbsp;&nbsp;0.13% | &nbsp;&nbsp;0.13% | &nbsp;&nbsp;0.13% | &nbsp;&nbsp;0.13% | &nbsp;&nbsp;0.08% | &nbsp;&nbsp;0.03% | &nbsp;&nbsp;0.13% |
| &nbsp;&nbsp;**Total annual Fund operating expenses<sup>(c)</sup>** | &nbsp;&nbsp;1.29% | &nbsp;&nbsp;1.04% | &nbsp;&nbsp;2.04% | &nbsp;&nbsp;1.04% | &nbsp;&nbsp;0.99% | &nbsp;&nbsp;0.94% | &nbsp;&nbsp;1.54% |

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(a) This charge is imposed on
certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with
certain limited exceptions.

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

(c) "Total
annual Fund operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the *Financial Highlights* section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.

#### Example
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:

■ you invest $10,000 in the
applicable class of Fund shares for the periods indicated,

■ your investment has a 5%
return each year, and

■ the
Fund's total annual operating expenses remain the same as shown in the *Annual Fund Operating Expenses* table above.

1 Columbia Seligman Global Technology Fund

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*Class C shares' 10-year cost examples below reflect the Class C Shares 8-Year Conversion Policy. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:*

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| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**1 year** | &nbsp;&nbsp;&nbsp;&nbsp;**3 years** | &nbsp;&nbsp;&nbsp;&nbsp;**5 years** | &nbsp;&nbsp;&nbsp;&nbsp;**10 years** |
| &nbsp;&nbsp;**Class A (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$699 | &nbsp;&nbsp;&nbsp;&nbsp;$960 | &nbsp;&nbsp;&nbsp;&nbsp;$1242 | &nbsp;&nbsp;&nbsp;&nbsp;$2042 |
| &nbsp;&nbsp;**Class Adv (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$106 | &nbsp;&nbsp;&nbsp;&nbsp;$331 | &nbsp;&nbsp;&nbsp;&nbsp;$574 | &nbsp;&nbsp;&nbsp;&nbsp;$1271 |
| &nbsp;&nbsp;**Class C (assuming redemption of all shares at the end of the period)** | &nbsp;&nbsp;&nbsp;&nbsp;$307 | &nbsp;&nbsp;&nbsp;&nbsp;$640 | &nbsp;&nbsp;&nbsp;&nbsp;$1098 | &nbsp;&nbsp;&nbsp;&nbsp;$2176 |
| &nbsp;&nbsp;**Class C (assuming no redemption of shares)** | &nbsp;&nbsp;&nbsp;&nbsp;$207 | &nbsp;&nbsp;&nbsp;&nbsp;$640 | &nbsp;&nbsp;&nbsp;&nbsp;$1098 | &nbsp;&nbsp;&nbsp;&nbsp;$2176 |
| &nbsp;&nbsp;**Class Inst (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$106 | &nbsp;&nbsp;&nbsp;&nbsp;$331 | &nbsp;&nbsp;&nbsp;&nbsp;$574 | &nbsp;&nbsp;&nbsp;&nbsp;$1271 |
| &nbsp;&nbsp;**Class Inst2 (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$101 | &nbsp;&nbsp;&nbsp;&nbsp;$315 | &nbsp;&nbsp;&nbsp;&nbsp;$547 | &nbsp;&nbsp;&nbsp;&nbsp;$1213 |
| &nbsp;&nbsp;**Class Inst3 (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$96 | &nbsp;&nbsp;&nbsp;&nbsp;$300 | &nbsp;&nbsp;&nbsp;&nbsp;$520 | &nbsp;&nbsp;&nbsp;&nbsp;$1155 |
| &nbsp;&nbsp;**Class R (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$157 | &nbsp;&nbsp;&nbsp;&nbsp;$486 | &nbsp;&nbsp;&nbsp;&nbsp;$839 | &nbsp;&nbsp;&nbsp;&nbsp;$1834 |

---

#### Portfolio Turnover
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 17% of the average value of its portfolio.

#### Principal Investment Strategies
The Fund generally invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities of U.S. and non-U.S. companies with business operations in technology and technology-related industries. For these purposes, technology-related companies are those companies that use technology extensively to improve their business processes and applications. The technology industry comprises information technology and communications, as well as medical, environmental and biotechnology. The Fund may invest in securities of companies domiciled in any country believed to be appropriate to the Fund's objective. The Fund generally invests in several countries in different geographic regions.

Under normal circumstances, the Fund generally invests at least 40% of its net assets in companies that maintain their principal place of business or conduct their principal business activities outside the U.S., have their securities traded on non-U.S. exchanges or have been formed under the laws of non-U.S. countries. This 40% minimum investment amount may be reduced to 30% if market conditions for these investments or specific foreign markets are deemed unfavorable. The Fund considers a company to conduct its principal business activities outside the U.S. if it derives at least 50% of its revenue from business outside the U.S. or has at least 50% of its assets outside the U.S.

The Fund may, from time to time, take temporary defensive positions that may result in the Fund investing less than 30% of its net assets in companies outside the U.S. in an effort to minimize extreme volatility caused by adverse market, economic, political or other conditions.

The Fund may invest in companies that have market capitalizations of any size. Securities of large capitalization companies that are well established in the world technology market can be expected to grow with the market and are frequently held by the Fund. However, rapidly changing technologies and expansion of technology and technology-related industries often provide a favorable environment for companies of small-to-medium size capitalization, and the Fund may invest in these companies as well.

The Fund may invest in all types of securities, many of which will be denominated in currencies other than the U.S. dollar. The Fund normally concentrates its investments in common stocks; however, it may invest in other types of equity securities, including securities convertible into or exchangeable for common stock, depositary receipts, and rights and warrants to purchase common stock. The Fund also may invest up to 20% of its assets in preferred stock and investment-grade or comparable quality debt securities.

The Fund is non-diversified, which means that it can invest a greater percentage of its assets in the securities of fewer issuers than can a diversified fund.

Columbia Seligman Global Technology Fund 2

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#### Principal Risks
An investment in the Fund involves risks, including **Sector Risk**, **Foreign Securities Risk**, and **Market Risk**, among others. Descriptions of these and other principal risks of investing in the Fund are provided below. *There is no assurance that the Fund will achieve its investment objective and you may lose money*. The value of the Fund's holdings may decline, and the Fund's net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The significance of any specific risk to an investment in the Fund will vary over time depending on the composition of the Fund's portfolio, market conditions, and other factors. You should read all of the risk information below carefully, because any one or more of these risks may result in losses to the Fund.

#### Active Management Risk. Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.
**Convertible Securities Risk. Convertible securities are subject to the usual risks associated with debt instruments, such as interest rate risk and credit risk. Convertible securities also react to changes in the value of the common stock into which they convert, and are thus subject to market risk. The Fund may also be forced to convert a convertible security at an inopportune time, which may decrease the Fund's return.**

**Depositary Receipts Risk. Depositary receipts are receipts issued by a bank or trust company reflecting ownership of underlying securities issued by foreign companies. Some foreign securities are traded in the form of American Depositary Receipts and/or Global Depositary Receipts. Depositary receipts involve risks similar to the risks associated with investments in foreign securities, including those associated with an issuer's (and any of its related companies') country of organization and places of business operations, which may be related to the particular political, regulatory, economic, social and other conditions or events (including, for example, military confrontations and actions, war, other conflicts, terrorism and disease/virus outbreaks and epidemics) occurring in the country and fluctuations in such country's currency, as well as market risk tied to the underlying foreign company. In addition, holders of depositary receipts may have limited voting rights, may not have the same rights afforded to stockholders of a typical domestic company in the event of a corporate action, such as an acquisition, merger or rights offering, and may experience difficulty in receiving company stockholder communications. There is no guarantee that a financial institution will continue to sponsor a depositary receipt, or that a depositary receipt will continue to trade on an exchange, either of which could adversely affect the liquidity, availability and pricing of the depositary receipt. Changes in foreign currency exchange rates will affect the value of depositary receipts and, therefore, may affect the value of your investment in the Fund.**

**Emerging Market Securities Risk. Securities issued by foreign governments or companies in emerging market countries, such as China, Russia and certain countries in Eastern Europe, the Middle East, Asia, Latin America or Africa, are more likely to have greater exposure to the risks of investing in foreign securities that are described in Foreign Securities Risk. In addition, emerging market countries are more likely to experience instability resulting, for example, from rapid changes or developments in social, political, economic or other conditions. Their economies are usually less mature and their securities markets are typically less developed with more limited trading activity (i.e., lower trading volumes and less liquidity) than more developed countries. Emerging market securities tend to be more volatile, and may be more susceptible to market manipulation, than securities in more developed markets. Many emerging market countries are heavily dependent on international trade and have fewer trading partners, which makes them more sensitive to world commodity prices and economic downturns in other countries, and some have a higher risk of currency devaluations. Due to the differences in the nature and quality of financial information of issuers of emerging market securities, including auditing and financial reporting standards, financial information and disclosures about such issuers may be unavailable or, if made available, may be considerably less reliable than publicly available information about other foreign securities.**

**Foreign Securities Risk. Investments in or exposure to securities of foreign companies may involve heightened risks relative to investments in or exposure to securities of U.S. companies. Investing in securities of foreign companies subjects the Fund to the risks associated with an issuer's (and any of its related companies') country of organization and places of business operations, including risks related to political, regulatory, economic, social, diplomatic and other conditions or events (including, for example, military confrontations and actions, war, other conflicts, terrorism and disease/virus outbreaks and epidemics) occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country. In addition, foreign governments may impose withholding or other taxes on the Fund's income, capital gains or proceeds from the disposition of foreign securities, which could reduce the Fund's return on such securities. The performance of the**

3 Columbia Seligman Global Technology Fund

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Fund may also be negatively affected by fluctuations in a foreign currency's strength or weakness relative to the U.S. dollar, particularly to the extent the Fund invests a significant percentage of its assets in foreign securities or other assets denominated in currencies other than the U.S. dollar.

**Growth Securities Risk. Growth securities typically trade at a higher multiple of earnings than other types of equity securities. Accordingly, the market values of growth securities may never reach their expected market value and may decline in price. In addition, growth securities, at times, may not perform as well as value securities or the stock market in general, and may be out of favor with investors for varying periods of time.**

**Issuer Risk. An issuer in which the Fund invests or to which it has exposure may perform poorly or below expectations, and the value of its securities may therefore decline, which may negatively affect the Fund's performance. Underperformance of an issuer may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters, military confrontations and actions, war, other conflicts, terrorism, disease/virus outbreaks, epidemics or other events, conditions and factors which may impair the value of an investment in the Fund.**

■  ***Small- and Mid-Cap Stock Risk. Investments in small- and mid-capitalization companies (small- and mid-cap companies) often involve greater risks than investments in larger, more established companies (larger companies) because small- and mid-cap companies tend to have less predictable earnings and may lack the management experience, financial resources, product diversification and competitive strengths of larger companies. Securities of small- and mid-cap companies may be less liquid and more volatile than the securities of larger companies.*** 

■  ***Large-Cap Stock Risk. Investments in larger companies may involve certain risks associated with their larger size. For instance, larger companies may be less able to respond quickly to new competitive challenges, such as changes in consumer tastes or innovation from smaller competitors. Also, larger companies are sometimes less able to achieve as high growth rates as successful smaller companies, especially during extended periods of economic expansion.*** 

**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 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. Foreign securities can present enhanced liquidity risks, including as a result of less developed custody, settlement or other practices of foreign markets.**

**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.**

Columbia Seligman Global Technology Fund 4

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**Non-Diversified Fund Risk. The Fund is non-diversified, which generally means that it may invest a greater percentage of its total assets in the securities of fewer issuers than a "diversified" fund. This increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a diversified fund holding a greater number of investments. Accordingly, the Fund's value will likely be more volatile than the value of a more diversified fund.**

**Sector Risk. At times, the Fund may have a significant portion of its assets invested in securities of companies conducting business in a related group of industries within one or more economic sectors, including the information technology sector. Companies in the same sector may be similarly affected by economic, regulatory, political or market events or conditions, which may make the Fund more vulnerable to unfavorable developments in that group of industries or economic sector than funds that invest more broadly. Generally, the more broadly the Fund invests, the more it spreads risk and potentially reduces the risks of loss and volatility.**

■  ***Information Technology Sector. The Fund is more susceptible to the particular risks that may affect companies in the information technology sector than if it were invested in a wider variety of companies in unrelated sectors. Companies in the information technology sector are subject to certain risks, including the risk that new services, equipment or technologies will not be accepted by consumers and businesses or will become rapidly obsolete. Performance of such companies may be affected by factors including obtaining and protecting patents (or the failure to do so) and significant competitive pressures, including aggressive pricing of their products or services, new market entrants, competition for market share and short product cycles due to an accelerated rate of technological developments. Such competitive pressures may lead to limited earnings and/or falling profit margins. As a result, the value of their securities may fall or fail to rise. In addition, many information technology sector companies have limited operating histories and prices of these companies' securities historically have been more volatile than other securities, especially over the short term. Some companies in the information technology sector are facing increased government and regulatory scrutiny and may be subject to adverse government or regulatory action, which could negatively impact the value of their securities.*** 

#### Performance Information
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund's Class A share performance (without sales charges) has varied for each full calendar year shown. If the sales charges were reflected, returns shown would be lower. The table below the bar chart compares the Fund's returns (after applicable sales charges shown in the *Shareholder Fees* table in this prospectus) for the periods shown with a broad measure of market performance.

The performance of one or more share classes shown in the table below begins before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund's Class A shares (without applicable sales charges) for periods prior to its inception date.

Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the *Average Annual Total Returns* table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class A shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

**The Fund's past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.**

5 Columbia Seligman Global Technology Fund

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Year by Year Total Return (%)<br> as of December 31 Each Year** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** |
| ![](g606816bg_134.jpg)  | &nbsp;&nbsp;&nbsp;&nbsp; <sub>Best</sub> | <sub>2nd Quarter 2020</sub> | <sub>31.58%</sub> |
| ![](g606816bg_134.jpg)  | &nbsp;&nbsp; <sub>Worst</sub> | <sub>2nd Quarter 2022</sub> | <sub>-21.17%</sub> |

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#### Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2022)

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| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Share Class <br> Inception Date** | &nbsp;&nbsp;&nbsp;&nbsp;**1 Year** | &nbsp;&nbsp;&nbsp;&nbsp;**5 Years** | &nbsp;&nbsp;&nbsp;&nbsp;**10 Years** |
| &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;&nbsp;&nbsp;05/23/1994 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns before taxes |  | &nbsp;&nbsp;&nbsp;&nbsp;-35.61% | &nbsp;&nbsp;&nbsp;&nbsp;13.01% | &nbsp;&nbsp;&nbsp;&nbsp;17.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns after taxes on distributions |  | &nbsp;&nbsp;&nbsp;&nbsp;-36.17% | &nbsp;&nbsp;&nbsp;&nbsp;10.52% | &nbsp;&nbsp;&nbsp;&nbsp;15.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns after taxes on distributions and sale of Fund shares |  | &nbsp;&nbsp;&nbsp;&nbsp;-20.65% | &nbsp;&nbsp;&nbsp;&nbsp;10.15% | &nbsp;&nbsp;&nbsp;&nbsp;14.16% |
| &nbsp;&nbsp;**Class Adv returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;11/08/2012 | &nbsp;&nbsp;&nbsp;&nbsp;-31.51% | &nbsp;&nbsp;&nbsp;&nbsp;14.65% | &nbsp;&nbsp;&nbsp;&nbsp;18.45% |
| &nbsp;&nbsp;**Class C returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;05/27/1999 | &nbsp;&nbsp;&nbsp;&nbsp;-32.84% | &nbsp;&nbsp;&nbsp;&nbsp;13.50% | &nbsp;&nbsp;&nbsp;&nbsp;17.27% |
| &nbsp;&nbsp;**Class Inst returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;09/27/2010 | &nbsp;&nbsp;&nbsp;&nbsp;-31.52% | &nbsp;&nbsp;&nbsp;&nbsp;14.64% | &nbsp;&nbsp;&nbsp;&nbsp;18.45% |
| &nbsp;&nbsp;**Class Inst2 returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;08/03/2009 | &nbsp;&nbsp;&nbsp;&nbsp;-31.47% | &nbsp;&nbsp;&nbsp;&nbsp;14.71% | &nbsp;&nbsp;&nbsp;&nbsp;18.57% |
| &nbsp;&nbsp;**Class Inst3 returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;03/01/2017 | &nbsp;&nbsp;&nbsp;&nbsp;-31.44% | &nbsp;&nbsp;&nbsp;&nbsp;14.76% | &nbsp;&nbsp;&nbsp;&nbsp;18.41% |
| &nbsp;&nbsp;**Class R returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;04/30/2003 | &nbsp;&nbsp;&nbsp;&nbsp;-31.86% | &nbsp;&nbsp;&nbsp;&nbsp;14.07% | &nbsp;&nbsp;&nbsp;&nbsp;17.86% |
| &nbsp;&nbsp;**MSCI World Information Technology Index (Net) (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes)** |  | &nbsp;&nbsp;&nbsp;&nbsp;-30.79% | &nbsp;&nbsp;&nbsp;&nbsp;13.18% | &nbsp;&nbsp;&nbsp;&nbsp;16.17% |

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#### Fund Management

#### Investment Manager: Columbia Management Investment Advisers, LLC

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| | | |
|:---|:---|:---|
| **Portfolio Management** | &nbsp;&nbsp;&nbsp;&nbsp;**Role with Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Fund Since** |
| Paul Wick | &nbsp;&nbsp;&nbsp;&nbsp;Lead Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;1994 |
| Shekhar Pramanick | &nbsp;&nbsp;&nbsp;&nbsp;Technology Team Member | &nbsp;&nbsp;&nbsp;&nbsp;2014 |
| Sanjay Devgan | &nbsp;&nbsp;&nbsp;&nbsp;Technology Team Member | &nbsp;&nbsp;&nbsp;&nbsp;2014 |
| Christopher Boova | &nbsp;&nbsp;&nbsp;&nbsp;Technology Team Member | &nbsp;&nbsp;&nbsp;&nbsp;2016 |
| Vimal Patel | &nbsp;&nbsp;&nbsp;&nbsp;Technology Team Member | &nbsp;&nbsp;&nbsp;&nbsp;2018 |
| Sanjiv Wadhwani | &nbsp;&nbsp;&nbsp;&nbsp;Technology Team Member | &nbsp;&nbsp;&nbsp;&nbsp;2021 |

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#### Purchase and Sale of Fund Shares
You may purchase or redeem shares of the Fund on any business day by contacting the Fund in the ways described below:

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| | | |
|:---|:---|:---|
| **Online** | &nbsp;&nbsp;&nbsp;&nbsp;**Regular Mail** | &nbsp;&nbsp;&nbsp;&nbsp;**By Telephone** |
| columbiathreadneedleus.com/investor/ | &nbsp;&nbsp;&nbsp;&nbsp;Columbia Management<br> Investment Services Corp.<br> P.O. Box 219104<br> Kansas City, MO 64121-9104 &nbsp;&nbsp;&nbsp;&nbsp;Columbia Management<br> Investment Services Corp.<br> c/o SS&C GIDS, Inc.<br> 430 W 7<sup>th</sup> Street, Suite 219104<br> Kansas City, MO 64105-1407 | &nbsp;&nbsp;&nbsp;&nbsp;800.422.3737 |

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You may purchase shares and receive redemption proceeds by electronic funds transfer, by check or by wire. If you maintain your account with a broker-dealer or other financial intermediary, you must contact that financial intermediary to buy, sell or exchange shares of the Fund through your account with the intermediary.

The minimum initial investment amounts for the share classes offered by the Fund are shown below:

Columbia Seligman Global Technology Fund 6

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#### Minimum Initial Investment

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Class** | &nbsp;&nbsp;**Category of eligible account** | &nbsp;&nbsp;**For accounts other than<br> Systematic Investment<br> Plan accounts (as described in the Fund's Prospectus)** | &nbsp;&nbsp;**For Systematic Investment<br> Plan accounts** |
| &nbsp;&nbsp;**Classes A & C** | &nbsp;&nbsp;All accounts other than IRAs | &nbsp;&nbsp;$2000 | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes A & C** | &nbsp;&nbsp;IRAs | &nbsp;&nbsp;$1000 | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes Adv & Inst** | &nbsp;&nbsp;All eligible accounts | &nbsp;&nbsp;$0, $1,000 or $2,000<br> depending upon the category<br> of eligible investor | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes Inst2 & R** | &nbsp;&nbsp;All eligible accounts |  | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;**Class Inst3** | &nbsp;&nbsp;All eligible accounts | &nbsp;&nbsp;$0, $1,000, $2,000<br> or $1 million depending<br> upon the category<br> of eligible investor | &nbsp;&nbsp;$100 (for certain<br> eligible investors) |

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More information about these minimums can be found in the *Buying, Selling and Exchanging Shares - Buying Shares* section of the prospectus. There is no minimum additional investment for any share class.

#### Tax Information
The Fund normally distributes net investment income and net realized capital gains, if any, to shareholders. These distributions are generally taxable to you as ordinary income, qualified dividend income or capital gains, unless you are investing through a tax-advantaged account, such as a 401(k) plan or an IRA. If you are investing through a tax-advantaged account, you may be taxed upon withdrawals from that account.

#### Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies — including Columbia Management Investment Advisers, LLC (the Investment Manager), Columbia Management Investment Distributors, Inc. (the Distributor) and Columbia Management Investment Services Corp. (the Transfer Agent) — may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your financial advisor to recommend the Fund over another investment. Ask your financial advisor or visit your financial intermediary's website for more information.

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Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.<br> The Fund is distributed by Columbia Management Investment Distributors, Inc., 290 Congress Street, Boston, MA 02210.© 2023 Columbia Management Investment Advisers, LLC. All rights reserved.

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|:---|:---|
| **columbiathreadneedleus.com** | SUM220_10_N01_(03/23) |

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