# EDGAR Filing Document

**Accession Number:** 0001352280
**File Stem:** 0001193125-26-143564
**Filing Date:** 2026-4
**Character Count:** 1782225
**Document Hash:** 23c0fc34645cf2081b7d08c35fb8066b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-143564.hdr.sgml**: 20260406

**ACCESSION NUMBER**: 0001193125-26-143564

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260406

**DATE AS OF CHANGE**: 20260406

**EFFECTIVENESS DATE**: 20260406

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Columbia Funds Series Trust II
- **CENTRAL INDEX KEY:** 0001352280

**ORGANIZATION NAME:**
- **EIN:** 204384176
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21852
- **FILM NUMBER:** 26840747

**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 Floating Rate Fund (Series ID: S000031341)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000097331 | Columbia Floating Rate Fund Class A               | RFRAX           |
| C000097333 | Columbia Floating Rate Fund Class C               | RFRCX           |
| C000097337 | Columbia Floating Rate Fund Institutional 2 Class | RFRFX           |
| C000097339 | Columbia Floating Rate Fund Institutional Class   | CFRZX           |
| C000158965 | Columbia Floating Rate Fund Institutional 3 Class | CFRYX           |

### Columbia Disciplined Growth Fund (Series ID: S000031351)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000097402 | Columbia Disciplined Growth Fund Class A               | RDLAX           |
| C000097404 | Columbia Disciplined Growth Fund Class C               | RDLCX           |
| C000097409 | Columbia Disciplined Growth Fund Institutional Class   | CLQZX           |
| C000158967 | Columbia Disciplined Growth Fund Institutional 3 Class | CGQYX           |

### Columbia Income Opportunities Fund (Series ID: S000031352)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000097410 | Columbia Income Opportunities Fund Class A               | AIOAX           |
| C000097412 | Columbia Income Opportunities Fund Class C               | RIOCX           |
| C000097417 | Columbia Income Opportunities Fund Institutional 3 Class | CIOYX           |
| C000097418 | Columbia Income Opportunities Fund Institutional Class   | CIOZX           |
| C000122757 | Columbia Income Opportunities Fund Institutional 2 Class | CEPRX           |
| C000253699 | Columbia Income Opportunities Fund Class S               | CIODX           |

### Columbia Disciplined Value Fund (Series ID: S000031353)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000097419 | Columbia Disciplined Value Fund Class A             | RLCAX           |
| C000097421 | Columbia Disciplined Value Fund Class C             | RDCCX           |
| C000097427 | Columbia Disciplined Value Fund Institutional Class | CVQZX           |

### Columbia Disciplined Core Fund (Series ID: S000031356)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000097448 | Columbia Disciplined Core Fund Class A               | AQEAX           |
| C000097450 | Columbia Disciplined Core Fund Class C               | RDCEX           |
| C000097454 | Columbia Disciplined Core Fund Institutional 2 Class | RSIPX           |
| C000097456 | Columbia Disciplined Core Fund Institutional Class   | CCRZX           |
| C000158971 | Columbia Disciplined Core Fund Institutional 3 Class | CCQYX           |

### Columbia Government Money Market Fund (Series ID: S000031364)

| Class ID   | Class Name                                                  | Ticker Symbol   |
|:---|:---|:---|
| C000097504 | Columbia Government Money Market Fund Class A               | IDSXX           |
| C000097509 | Columbia Government Money Market Fund Institutional 2 Class | CMRXX           |
| C000097511 | Columbia Government Money Market Fund Institutional Class   | IDYXX           |
| C000173885 | Columbia Government Money Market Fund Institutional 3 Class | CGMXX           |

### Columbia Minnesota Tax-Exempt Fund (Series ID: S000031366)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000097521 | Columbia Minnesota Tax-Exempt Fund Class A               | IMNTX           |
| C000097523 | Columbia Minnesota Tax-Exempt Fund Class C               | RMTCX           |
| C000097524 | Columbia Minnesota Tax-Exempt Fund Institutional Class   | CMNZX           |
| C000136871 | Columbia Minnesota Tax-Exempt Fund Institutional 2 Class | CADOX           |
| C000177153 | Columbia Minnesota Tax-Exempt Fund Institutional 3 Class | CMNYX           |

### Columbia Global Opportunities Fund (Series ID: S000031367)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000097525 | Columbia Global Opportunities Fund Class A             | IMRFX           |
| C000097531 | Columbia Global Opportunities Fund Institutional Class | CSAZX           |

### Columbia Strategic Municipal Income Fund (Series ID: S000031369)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000097542 | Columbia Strategic Municipal Income Fund Class A               | INTAX           |
| C000097544 | Columbia Strategic Municipal Income Fund Class C               | RTCEX           |
| C000097545 | Columbia Strategic Municipal Income Fund Institutional Class   | CATZX           |
| C000136872 | Columbia Strategic Municipal Income Fund Institutional 2 Class | CADNX           |
| C000175787 | Columbia Strategic Municipal Income Fund Institutional 3 Class | CATYX           |
| C000253701 | Columbia Strategic Municipal Income Fund Class S               | CATSX           |

### Columbia Select Short Corporate Income Fund (Series ID: S000031374)

| Class ID   | Class Name                                                        | Ticker Symbol   |
|:---|:---|:---|
| C000097580 | Columbia Select Short Corporate Income Fund Class A               | ALDAX           |
| C000097582 | Columbia Select Short Corporate Income Fund Class C               | RDCLX           |
| C000097586 | Columbia Select Short Corporate Income Fund Institutional Class   | CLDZX           |
| C000120797 | Columbia Select Short Corporate Income Fund Institutional 2 Class | CTLRX           |
| C000126956 | Columbia Select Short Corporate Income Fund Institutional 3 Class | CLDYX           |

### Columbia Short-Term Cash Fund (Series ID: S000032449)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000100156 | Columbia Short-Term Cash Fund |  |

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

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

#### MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number 811-21852

## Columbia Funds Series Trust II

#### (Exact name of registrant as specified in charter)

#### 290 Congress Street

#### Boston, MA 02210

#### (Address of principal executive offices) (Zip code)

#### Michael G. Clarke

#### c/o Columbia Management Investment Advisers, LLC

#### 290 Congress Street

#### Boston, MA 02210

#### Ryan C. Larrenaga, Esq.

#### c/o Columbia Management Investment Advisers, LLC

#### 290 Congress Street

#### Boston, MA 02210

#### (Name and address of agent for service)

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

#### Date of fiscal year end: Last Day of July

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

------

#### Item 1. Reports to Stockholders.

# Columbia Disciplined Core Fund
Class A \| AQEAX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $50 | 0.94%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $5005121630 |
| **Total number of portfolio holdings** | 85 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Core Fund \| Class A **\|** SSR177_01_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 32.6% |
| Financials | 12.5% |
| Communication Services | 11.6% |
| Consumer Discretionary | 10.4% |
| Health Care | 9.5% |
| Industrials | 8.1% |
| Consumer Staples | 4.5% |
| Energy | 3.2% |
| Utilities | 2.5% |
| Materials | 2.2% |
| Other | 1.6% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 9.4% |
| Alphabet, Inc., Class A | 7.5% |
| Apple, Inc. | 6.0% |
| Microsoft Corp. | 4.3% |
| Meta Platforms, Inc., Class A | 4.1% |
| Amazon.com, Inc. | 3.3% |
| Chevron Corp. | 2.3% |
| Bristol-Myers Squibb Co. | 2.0% |
| Altria Group, Inc. | 1.9% |
| Citigroup, Inc. | 1.8% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| Money Market Funds | 1.3% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Core Fund \| Class A **\|** SSR177_01_(03/26) \|

# Columbia Disciplined Core Fund
Class C \| RDCEX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $89 | 1.69%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $5005121630 |
| **Total number of portfolio holdings** | 85 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Core Fund \| Class C **\|** SSR177_04_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 32.6% |
| Financials | 12.5% |
| Communication Services | 11.6% |
| Consumer Discretionary | 10.4% |
| Health Care | 9.5% |
| Industrials | 8.1% |
| Consumer Staples | 4.5% |
| Energy | 3.2% |
| Utilities | 2.5% |
| Materials | 2.2% |
| Other | 1.6% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 9.4% |
| Alphabet, Inc., Class A | 7.5% |
| Apple, Inc. | 6.0% |
| Microsoft Corp. | 4.3% |
| Meta Platforms, Inc., Class A | 4.1% |
| Amazon.com, Inc. | 3.3% |
| Chevron Corp. | 2.3% |
| Bristol-Myers Squibb Co. | 2.0% |
| Altria Group, Inc. | 1.9% |
| Citigroup, Inc. | 1.8% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| Money Market Funds | 1.3% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Core Fund \| Class C **\|** SSR177_04_(03/26) \|

# Columbia Disciplined Core Fund
Institutional 2 Class \| RSIPX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $36 | 0.69%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $5005121630 |
| **Total number of portfolio holdings** | 85 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Core Fund \| Institutional 2 Class **\|** SSR177_15_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 32.6% |
| Financials | 12.5% |
| Communication Services | 11.6% |
| Consumer Discretionary | 10.4% |
| Health Care | 9.5% |
| Industrials | 8.1% |
| Consumer Staples | 4.5% |
| Energy | 3.2% |
| Utilities | 2.5% |
| Materials | 2.2% |
| Other | 1.6% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 9.4% |
| Alphabet, Inc., Class A | 7.5% |
| Apple, Inc. | 6.0% |
| Microsoft Corp. | 4.3% |
| Meta Platforms, Inc., Class A | 4.1% |
| Amazon.com, Inc. | 3.3% |
| Chevron Corp. | 2.3% |
| Bristol-Myers Squibb Co. | 2.0% |
| Altria Group, Inc. | 1.9% |
| Citigroup, Inc. | 1.8% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| Money Market Funds | 1.3% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Core Fund \| Institutional 2 Class **\|** SSR177_15_(03/26) \|

# Columbia Disciplined Core Fund
Institutional 3 Class \| CCQYX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $34 | 0.64%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $5005121630 |
| **Total number of portfolio holdings** | 85 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Core Fund \| Institutional 3 Class **\|** SSR177_17_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 32.6% |
| Financials | 12.5% |
| Communication Services | 11.6% |
| Consumer Discretionary | 10.4% |
| Health Care | 9.5% |
| Industrials | 8.1% |
| Consumer Staples | 4.5% |
| Energy | 3.2% |
| Utilities | 2.5% |
| Materials | 2.2% |
| Other | 1.6% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 9.4% |
| Alphabet, Inc., Class A | 7.5% |
| Apple, Inc. | 6.0% |
| Microsoft Corp. | 4.3% |
| Meta Platforms, Inc., Class A | 4.1% |
| Amazon.com, Inc. | 3.3% |
| Chevron Corp. | 2.3% |
| Bristol-Myers Squibb Co. | 2.0% |
| Altria Group, Inc. | 1.9% |
| Citigroup, Inc. | 1.8% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| Money Market Funds | 1.3% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Core Fund \| Institutional 3 Class **\|** SSR177_17_(03/26) \|

# Columbia Disciplined Core Fund
Institutional Class \| CCRZX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $36 | 0.69%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $5005121630 |
| **Total number of portfolio holdings** | 85 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Core Fund \| Institutional Class **\|** SSR177_08_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 32.6% |
| Financials | 12.5% |
| Communication Services | 11.6% |
| Consumer Discretionary | 10.4% |
| Health Care | 9.5% |
| Industrials | 8.1% |
| Consumer Staples | 4.5% |
| Energy | 3.2% |
| Utilities | 2.5% |
| Materials | 2.2% |
| Other | 1.6% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 9.4% |
| Alphabet, Inc., Class A | 7.5% |
| Apple, Inc. | 6.0% |
| Microsoft Corp. | 4.3% |
| Meta Platforms, Inc., Class A | 4.1% |
| Amazon.com, Inc. | 3.3% |
| Chevron Corp. | 2.3% |
| Bristol-Myers Squibb Co. | 2.0% |
| Altria Group, Inc. | 1.9% |
| Citigroup, Inc. | 1.8% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.7% |
| Money Market Funds | 1.3% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Core Fund \| Institutional Class **\|** SSR177_08_(03/26) \|

# Columbia Disciplined Growth Fund
Class A \| RDLAX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $56 | 1.06%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $305417498 |
| **Total number of portfolio holdings** | 65 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Disciplined Growth Fund \| Class A **\|** SSR178_01_(03/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 18.0% |
| Application Software | 9.2% |
| Technology Hardware, Storage & Peripherals | 9.0% |
| Systems Software | 7.7% |
| Semiconductor Materials & Equipment | 2.2% |
| Communications Equipment | 2.1% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 10.3% |
| Apple, Inc. | 9.0% |
| Microsoft Corp. | 7.7% |
| Alphabet, Inc., Class A | 7.3% |
| Meta Platforms, Inc., Class A | 5.5% |
| Broadcom, Inc. | 4.6% |
| Amazon.com, Inc. | 3.9% |
| Tesla, Inc. | 3.0% |
| Lam Research Corp. | 2.2% |
| Arista Networks, Inc. | 2.1% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 48.2% |
| Communication Services | 13.4% |
| Consumer Discretionary | 12.9% |
| Health Care | 7.8% |
| Industrials | 6.4% |
| Financials | 6.1% |
| Consumer Staples | 2.1% |
| Materials | 0.8% |
| Energy | 0.6% |
| Utilities | 0.2% |
| Other | 0.2% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Growth Fund \| Class A **\|** SSR178_01_(03/26) \|

# Columbia Disciplined Growth Fund
Class C \| RDLCX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $95 | 1.81%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $305417498 |
| **Total number of portfolio holdings** | 65 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Disciplined Growth Fund \| Class C **\|** SSR178_04_(03/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 18.0% |
| Application Software | 9.2% |
| Technology Hardware, Storage & Peripherals | 9.0% |
| Systems Software | 7.7% |
| Semiconductor Materials & Equipment | 2.2% |
| Communications Equipment | 2.1% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 10.3% |
| Apple, Inc. | 9.0% |
| Microsoft Corp. | 7.7% |
| Alphabet, Inc., Class A | 7.3% |
| Meta Platforms, Inc., Class A | 5.5% |
| Broadcom, Inc. | 4.6% |
| Amazon.com, Inc. | 3.9% |
| Tesla, Inc. | 3.0% |
| Lam Research Corp. | 2.2% |
| Arista Networks, Inc. | 2.1% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 48.2% |
| Communication Services | 13.4% |
| Consumer Discretionary | 12.9% |
| Health Care | 7.8% |
| Industrials | 6.4% |
| Financials | 6.1% |
| Consumer Staples | 2.1% |
| Materials | 0.8% |
| Energy | 0.6% |
| Utilities | 0.2% |
| Other | 0.2% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Growth Fund \| Class C **\|** SSR178_04_(03/26) \|

# Columbia Disciplined Growth Fund
Institutional 3 Class \| CGQYX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $39 | 0.74%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $305417498 |
| **Total number of portfolio holdings** | 65 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Disciplined Growth Fund \| Institutional 3 Class **\|** SSR178_17_(03/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 18.0% |
| Application Software | 9.2% |
| Technology Hardware, Storage & Peripherals | 9.0% |
| Systems Software | 7.7% |
| Semiconductor Materials & Equipment | 2.2% |
| Communications Equipment | 2.1% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 10.3% |
| Apple, Inc. | 9.0% |
| Microsoft Corp. | 7.7% |
| Alphabet, Inc., Class A | 7.3% |
| Meta Platforms, Inc., Class A | 5.5% |
| Broadcom, Inc. | 4.6% |
| Amazon.com, Inc. | 3.9% |
| Tesla, Inc. | 3.0% |
| Lam Research Corp. | 2.2% |
| Arista Networks, Inc. | 2.1% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 48.2% |
| Communication Services | 13.4% |
| Consumer Discretionary | 12.9% |
| Health Care | 7.8% |
| Industrials | 6.4% |
| Financials | 6.1% |
| Consumer Staples | 2.1% |
| Materials | 0.8% |
| Energy | 0.6% |
| Utilities | 0.2% |
| Other | 0.2% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Growth Fund \| Institutional 3 Class **\|** SSR178_17_(03/26) \|

# Columbia Disciplined Growth Fund
Institutional Class \| CLQZX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $43 | 0.81%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $305417498 |
| **Total number of portfolio holdings** | 65 |
| **Portfolio turnover for the reporting period** | 23% |

---

Columbia Disciplined Growth Fund \| Institutional Class **\|** SSR178_08_(03/26) \|

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

#### Information Technology Sub-Industry Allocation

---

| | |
|:---|:---|
| Semiconductors | 18.0% |
| Application Software | 9.2% |
| Technology Hardware, Storage & Peripherals | 9.0% |
| Systems Software | 7.7% |
| Semiconductor Materials & Equipment | 2.2% |
| Communications Equipment | 2.1% |

---

### Top Holdings

---

| | |
|:---|:---|
| NVIDIA Corp. | 10.3% |
| Apple, Inc. | 9.0% |
| Microsoft Corp. | 7.7% |
| Alphabet, Inc., Class A | 7.3% |
| Meta Platforms, Inc., Class A | 5.5% |
| Broadcom, Inc. | 4.6% |
| Amazon.com, Inc. | 3.9% |
| Tesla, Inc. | 3.0% |
| Lam Research Corp. | 2.2% |
| Arista Networks, Inc. | 2.1% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 48.2% |
| Communication Services | 13.4% |
| Consumer Discretionary | 12.9% |
| Health Care | 7.8% |
| Industrials | 6.4% |
| Financials | 6.1% |
| Consumer Staples | 2.1% |
| Materials | 0.8% |
| Energy | 0.6% |
| Utilities | 0.2% |
| Other | 0.2% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Growth Fund \| Institutional Class **\|** SSR178_08_(03/26) \|

# Columbia Disciplined Value Fund
Class A \| RLCAX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $52 | 0.96%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $181853948 |
| **Total number of portfolio holdings** | 92 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Value Fund \| Class A **\|** SSR179_01_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 20.6% |
| Industrials | 13.1% |
| Health Care | 12.1% |
| Information Technology | 11.3% |
| Communication Services | 8.8% |
| Consumer Discretionary | 7.3% |
| Consumer Staples | 7.1% |
| Energy | 6.6% |
| Utilities | 4.6% |
| Materials | 3.8% |
| Other | 3.5% |

---

### Top Holdings

---

| | |
|:---|:---|
| Alphabet, Inc., Class A | 3.9% |
| JPMorgan Chase & Co. | 3.7% |
| Exxon Mobil Corp. | 3.0% |
| Meta Platforms, Inc., Class A | 2.6% |
| Chevron Corp. | 2.2% |
| Altria Group, Inc. | 2.1% |
| Cisco Systems, Inc. | 2.1% |
| QUALCOMM, Inc. | 2.0% |
| Bristol-Myers Squibb Co. | 2.0% |
| CME Group, Inc. | 1.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.8% |
| Money Market Funds | 1.2% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Value Fund \| Class A **\|** SSR179_01_(03/26) \|

# Columbia Disciplined Value Fund
Class C \| RDCCX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $95 | 1.78%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $181853948 |
| **Total number of portfolio holdings** | 92 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Value Fund \| Class C **\|** SSR179_04_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 20.6% |
| Industrials | 13.1% |
| Health Care | 12.1% |
| Information Technology | 11.3% |
| Communication Services | 8.8% |
| Consumer Discretionary | 7.3% |
| Consumer Staples | 7.1% |
| Energy | 6.6% |
| Utilities | 4.6% |
| Materials | 3.8% |
| Other | 3.5% |

---

### Top Holdings

---

| | |
|:---|:---|
| Alphabet, Inc., Class A | 3.9% |
| JPMorgan Chase & Co. | 3.7% |
| Exxon Mobil Corp. | 3.0% |
| Meta Platforms, Inc., Class A | 2.6% |
| Chevron Corp. | 2.2% |
| Altria Group, Inc. | 2.1% |
| Cisco Systems, Inc. | 2.1% |
| QUALCOMM, Inc. | 2.0% |
| Bristol-Myers Squibb Co. | 2.0% |
| CME Group, Inc. | 1.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.8% |
| Money Market Funds | 1.2% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Value Fund \| Class C **\|** SSR179_04_(03/26) \|

# Columbia Disciplined Value Fund
Institutional Class \| CVQZX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $42 | 0.78%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $181853948 |
| **Total number of portfolio holdings** | 92 |
| **Portfolio turnover for the reporting period** | 25% |

---

Columbia Disciplined Value Fund \| Institutional Class **\|** SSR179_08_(03/26) \|

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

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Financials | 20.6% |
| Industrials | 13.1% |
| Health Care | 12.1% |
| Information Technology | 11.3% |
| Communication Services | 8.8% |
| Consumer Discretionary | 7.3% |
| Consumer Staples | 7.1% |
| Energy | 6.6% |
| Utilities | 4.6% |
| Materials | 3.8% |
| Other | 3.5% |

---

### Top Holdings

---

| | |
|:---|:---|
| Alphabet, Inc., Class A | 3.9% |
| JPMorgan Chase & Co. | 3.7% |
| Exxon Mobil Corp. | 3.0% |
| Meta Platforms, Inc., Class A | 2.6% |
| Chevron Corp. | 2.2% |
| Altria Group, Inc. | 2.1% |
| Cisco Systems, Inc. | 2.1% |
| QUALCOMM, Inc. | 2.0% |
| Bristol-Myers Squibb Co. | 2.0% |
| CME Group, Inc. | 1.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Common Stocks | 98.8% |
| Money Market Funds | 1.2% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Disciplined Value Fund \| Institutional Class **\|** SSR179_08_(03/26) \|

# Columbia Floating Rate Fund
Class A \| RFRAX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $51 | 1.00%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $694258766 |
| **Total number of portfolio holdings** | 374 |
| **Portfolio turnover for the reporting period** | 35% |

---

Columbia Floating Rate Fund \| Class A **\|** SSR149_01_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Dayforce, Inc. 08/20/2032 | 1.0% |
| UKG, Inc. 02/10/2031 6.167% | 0.7% |
| Proofpoint, Inc. 08/31/2028 6.672% | 0.7% |
| Nielsen Consumer, Inc. 10/31/2030 5.922% | 0.7% |
| TK Elevator Midco GmbH 04/30/2030 6.377% | 0.7% |
| Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd. 07/31/2031 6.172% | 0.7% |
| athenahealth Group, Inc. 02/15/2029 6.422% | 0.6% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.6% |
| Cengage Learning, Inc. 03/24/2031 6.671% | 0.6% |
| Creative Artists Agency LLC 10/01/2031 6.172% | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Senior Loans | 91.7% |
| Asset-Backed Securities - Non-Agency | 4.5% |
| Money Market Funds | 3.4% |
| Corporate Bonds & Notes | 1.3% |
| Exchange-Traded Fixed Income Funds | 1.1% |
| Other | 0.8% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Floating Rate Fund \| Class A **\|** SSR149_01_(03/26) \|

# Columbia Floating Rate Fund
Class C \| RFRCX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $89 | 1.75%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $694258766 |
| **Total number of portfolio holdings** | 374 |
| **Portfolio turnover for the reporting period** | 35% |

---

Columbia Floating Rate Fund \| Class C **\|** SSR149_04_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Dayforce, Inc. 08/20/2032 | 1.0% |
| UKG, Inc. 02/10/2031 6.167% | 0.7% |
| Proofpoint, Inc. 08/31/2028 6.672% | 0.7% |
| Nielsen Consumer, Inc. 10/31/2030 5.922% | 0.7% |
| TK Elevator Midco GmbH 04/30/2030 6.377% | 0.7% |
| Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd. 07/31/2031 6.172% | 0.7% |
| athenahealth Group, Inc. 02/15/2029 6.422% | 0.6% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.6% |
| Cengage Learning, Inc. 03/24/2031 6.671% | 0.6% |
| Creative Artists Agency LLC 10/01/2031 6.172% | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Senior Loans | 91.7% |
| Asset-Backed Securities - Non-Agency | 4.5% |
| Money Market Funds | 3.4% |
| Corporate Bonds & Notes | 1.3% |
| Exchange-Traded Fixed Income Funds | 1.1% |
| Other | 0.8% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Floating Rate Fund \| Class C **\|** SSR149_04_(03/26) \|

# Columbia Floating Rate Fund
Institutional 2 Class \| RFRFX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $36 | 0.71%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $694258766 |
| **Total number of portfolio holdings** | 374 |
| **Portfolio turnover for the reporting period** | 35% |

---

Columbia Floating Rate Fund \| Institutional 2 Class **\|** SSR149_15_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Dayforce, Inc. 08/20/2032 | 1.0% |
| UKG, Inc. 02/10/2031 6.167% | 0.7% |
| Proofpoint, Inc. 08/31/2028 6.672% | 0.7% |
| Nielsen Consumer, Inc. 10/31/2030 5.922% | 0.7% |
| TK Elevator Midco GmbH 04/30/2030 6.377% | 0.7% |
| Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd. 07/31/2031 6.172% | 0.7% |
| athenahealth Group, Inc. 02/15/2029 6.422% | 0.6% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.6% |
| Cengage Learning, Inc. 03/24/2031 6.671% | 0.6% |
| Creative Artists Agency LLC 10/01/2031 6.172% | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Senior Loans | 91.7% |
| Asset-Backed Securities - Non-Agency | 4.5% |
| Money Market Funds | 3.4% |
| Corporate Bonds & Notes | 1.3% |
| Exchange-Traded Fixed Income Funds | 1.1% |
| Other | 0.8% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Floating Rate Fund \| Institutional 2 Class **\|** SSR149_15_(03/26) \|

# Columbia Floating Rate Fund
Institutional 3 Class \| CFRYX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $34 | 0.67%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $694258766 |
| **Total number of portfolio holdings** | 374 |
| **Portfolio turnover for the reporting period** | 35% |

---

Columbia Floating Rate Fund \| Institutional 3 Class **\|** SSR149_17_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Dayforce, Inc. 08/20/2032 | 1.0% |
| UKG, Inc. 02/10/2031 6.167% | 0.7% |
| Proofpoint, Inc. 08/31/2028 6.672% | 0.7% |
| Nielsen Consumer, Inc. 10/31/2030 5.922% | 0.7% |
| TK Elevator Midco GmbH 04/30/2030 6.377% | 0.7% |
| Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd. 07/31/2031 6.172% | 0.7% |
| athenahealth Group, Inc. 02/15/2029 6.422% | 0.6% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.6% |
| Cengage Learning, Inc. 03/24/2031 6.671% | 0.6% |
| Creative Artists Agency LLC 10/01/2031 6.172% | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Senior Loans | 91.7% |
| Asset-Backed Securities - Non-Agency | 4.5% |
| Money Market Funds | 3.4% |
| Corporate Bonds & Notes | 1.3% |
| Exchange-Traded Fixed Income Funds | 1.1% |
| Other | 0.8% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Floating Rate Fund \| Institutional 3 Class **\|** SSR149_17_(03/26) \|

# Columbia Floating Rate Fund
Institutional Class \| CFRZX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $38 | 0.75%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $694258766 |
| **Total number of portfolio holdings** | 374 |
| **Portfolio turnover for the reporting period** | 35% |

---

Columbia Floating Rate Fund \| Institutional Class **\|** SSR149_08_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Dayforce, Inc. 08/20/2032 | 1.0% |
| UKG, Inc. 02/10/2031 6.167% | 0.7% |
| Proofpoint, Inc. 08/31/2028 6.672% | 0.7% |
| Nielsen Consumer, Inc. 10/31/2030 5.922% | 0.7% |
| TK Elevator Midco GmbH 04/30/2030 6.377% | 0.7% |
| Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub Ltd. 07/31/2031 6.172% | 0.7% |
| athenahealth Group, Inc. 02/15/2029 6.422% | 0.6% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.6% |
| Cengage Learning, Inc. 03/24/2031 6.671% | 0.6% |
| Creative Artists Agency LLC 10/01/2031 6.172% | 0.6% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Senior Loans | 91.7% |
| Asset-Backed Securities - Non-Agency | 4.5% |
| Money Market Funds | 3.4% |
| Corporate Bonds & Notes | 1.3% |
| Exchange-Traded Fixed Income Funds | 1.1% |
| Other | 0.8% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Floating Rate Fund \| Institutional Class **\|** SSR149_08_(03/26) \|

# Columbia Global Opportunities Fund
Class A \| IMRFX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $61 | 1.15%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $321094034 |
| **Total number of portfolio holdings** | 452 |
| **Portfolio turnover for the reporting period** | 62% |
| **Portfolio turnover as of the end of the period excluding transactions in to be announced securities** | 30% |

---

Columbia Global Opportunities Fund \| Class A **\|** SSR156_01_(03/26) \|

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

#### Geographic Allocation

---

| | |
|:---|:---|
| United States | 69.0% |
| China | 4.3% |
| Japan | 4.1% |
| Canada | 2.8% |
| France | 2.8% |
| United Kingdom | 2.0% |
| Taiwan | 1.8% |
| Sweden | 1.7% |
| South Korea | 1.7% |
| Netherlands | 1.6% |
| Other | 10.8% |

---

### Derivative Exposure

---

| | |
|:---|:---|
| | Long |
| Credit Risk | 6.2% |
| Equity Risk | 28.9% |
| Foreign Exchange Risk | 17.6% |
| Interest Rate Risk | 9.9% |
|  | Short |
| Equity Risk | 5.7% |
| Foreign Exchange Risk | 14.4% |
| Interest Rate Risk | 0.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 13.4% |
| Financials | 8.8% |
| Consumer Discretionary | 6.0% |
| Industrials | 5.2% |
| Health Care | 4.7% |
| Communication Services | 4.4% |
| Consumer Staples | 2.4% |
| Energy | 1.6% |
| Utilities | 1.4% |
| Materials | 1.2% |
| Other | 1.0% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Global Opportunities Fund \| Class A **\|** SSR156_01_(03/26) \|

# Columbia Global Opportunities Fund
Institutional Class \| CSAZX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $48 | 0.90%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $321094034 |
| **Total number of portfolio holdings** | 452 |
| **Portfolio turnover for the reporting period** | 62% |
| **Portfolio turnover as of the end of the period excluding transactions in to be announced securities** | 30% |

---

Columbia Global Opportunities Fund \| Institutional Class **\|** SSR156_08_(03/26) \|

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

#### Geographic Allocation

---

| | |
|:---|:---|
| United States | 69.0% |
| China | 4.3% |
| Japan | 4.1% |
| Canada | 2.8% |
| France | 2.8% |
| United Kingdom | 2.0% |
| Taiwan | 1.8% |
| Sweden | 1.7% |
| South Korea | 1.7% |
| Netherlands | 1.6% |
| Other | 10.8% |

---

### Derivative Exposure

---

| | |
|:---|:---|
| | Long |
| Credit Risk | 6.2% |
| Equity Risk | 28.9% |
| Foreign Exchange Risk | 17.6% |
| Interest Rate Risk | 9.9% |
|  | Short |
| Equity Risk | 5.7% |
| Foreign Exchange Risk | 14.4% |
| Interest Rate Risk | 0.2% |

---

#### Equity Sector Allocation

---

| | |
|:---|:---|
| Information Technology | 13.4% |
| Financials | 8.8% |
| Consumer Discretionary | 6.0% |
| Industrials | 5.2% |
| Health Care | 4.7% |
| Communication Services | 4.4% |
| Consumer Staples | 2.4% |
| Energy | 1.6% |
| Utilities | 1.4% |
| Materials | 1.2% |
| Other | 1.0% |

---

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

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

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

Columbia Global Opportunities Fund \| Institutional Class **\|** SSR156_08_(03/26) \|

# Columbia Government Money Market Fund
Class A \| IDSXX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $16 | 0.32%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2753019756 |
| **Total number of portfolio holdings** | 107 |

---

Columbia Government Money Market Fund \| Class A **\|** SSR200_01_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Federal Farm Credit Discount Notes 02/02/2026 2.390% | 4.5% |
| Federal Agricultural Mortgage Corp. 01/06/2027 3.800% | 3.6% |
| Federal Home Loan Banks Discount Notes 03/20/2026 3.610% | 2.1% |
| Federal National Mortgage Association 08/21/2026 3.800% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/03/2026 2.760% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/05/2026 3.070% | 1.8% |
| Federal Home Loan Banks Discount Notes 04/01/2026 3.700% | 1.8% |
| Federal Home Loan Bank Discount Notes 03/11/2026 3.600% | 1.6% |
| Federal Home Loan Banks Discount Notes 02/04/2026 2.950% | 1.5% |
| Federal Home Loan Banks Discount Notes 02/10/2026 3.300% | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 72.3% |
| Repurchase Agreements | 18.2% |
| Treasury Bills | 5.3% |
| U.S. Treasury Obligations | 2.1% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Government Money Market Fund \| Class A **\|** SSR200_01_(03/26) \|

# Columbia Government Money Market Fund
Institutional 2 Class \| CMRXX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $16 | 0.32%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2753019756 |
| **Total number of portfolio holdings** | 107 |

---

Columbia Government Money Market Fund \| Institutional 2 Class **\|** SSR200_15_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Federal Farm Credit Discount Notes 02/02/2026 2.390% | 4.5% |
| Federal Agricultural Mortgage Corp. 01/06/2027 3.800% | 3.6% |
| Federal Home Loan Banks Discount Notes 03/20/2026 3.610% | 2.1% |
| Federal National Mortgage Association 08/21/2026 3.800% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/03/2026 2.760% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/05/2026 3.070% | 1.8% |
| Federal Home Loan Banks Discount Notes 04/01/2026 3.700% | 1.8% |
| Federal Home Loan Bank Discount Notes 03/11/2026 3.600% | 1.6% |
| Federal Home Loan Banks Discount Notes 02/04/2026 2.950% | 1.5% |
| Federal Home Loan Banks Discount Notes 02/10/2026 3.300% | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 72.3% |
| Repurchase Agreements | 18.2% |
| Treasury Bills | 5.3% |
| U.S. Treasury Obligations | 2.1% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Government Money Market Fund \| Institutional 2 Class **\|** SSR200_15_(03/26) \|

# Columbia Government Money Market Fund
Institutional 3 Class \| CGMXX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $14 | 0.28%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2753019756 |
| **Total number of portfolio holdings** | 107 |

---

Columbia Government Money Market Fund \| Institutional 3 Class **\|** SSR200_17_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Federal Farm Credit Discount Notes 02/02/2026 2.390% | 4.5% |
| Federal Agricultural Mortgage Corp. 01/06/2027 3.800% | 3.6% |
| Federal Home Loan Banks Discount Notes 03/20/2026 3.610% | 2.1% |
| Federal National Mortgage Association 08/21/2026 3.800% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/03/2026 2.760% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/05/2026 3.070% | 1.8% |
| Federal Home Loan Banks Discount Notes 04/01/2026 3.700% | 1.8% |
| Federal Home Loan Bank Discount Notes 03/11/2026 3.600% | 1.6% |
| Federal Home Loan Banks Discount Notes 02/04/2026 2.950% | 1.5% |
| Federal Home Loan Banks Discount Notes 02/10/2026 3.300% | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 72.3% |
| Repurchase Agreements | 18.2% |
| Treasury Bills | 5.3% |
| U.S. Treasury Obligations | 2.1% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Government Money Market Fund \| Institutional 3 Class **\|** SSR200_17_(03/26) \|

# Columbia Government Money Market Fund
Institutional Class \| IDYXX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $16 | 0.32%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2753019756 |
| **Total number of portfolio holdings** | 107 |

---

Columbia Government Money Market Fund \| Institutional Class **\|** SSR200_08_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Federal Farm Credit Discount Notes 02/02/2026 2.390% | 4.5% |
| Federal Agricultural Mortgage Corp. 01/06/2027 3.800% | 3.6% |
| Federal Home Loan Banks Discount Notes 03/20/2026 3.610% | 2.1% |
| Federal National Mortgage Association 08/21/2026 3.800% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/03/2026 2.760% | 1.8% |
| Federal Home Loan Banks Discount Notes 02/05/2026 3.070% | 1.8% |
| Federal Home Loan Banks Discount Notes 04/01/2026 3.700% | 1.8% |
| Federal Home Loan Bank Discount Notes 03/11/2026 3.600% | 1.6% |
| Federal Home Loan Banks Discount Notes 02/04/2026 2.950% | 1.5% |
| Federal Home Loan Banks Discount Notes 02/10/2026 3.300% | 1.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 72.3% |
| Repurchase Agreements | 18.2% |
| Treasury Bills | 5.3% |
| U.S. Treasury Obligations | 2.1% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Government Money Market Fund \| Institutional Class **\|** SSR200_08_(03/26) \|

# Columbia Income Opportunities Fund
Class A \| AIOAX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $49 | 0.95%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $725419612 |
| **Total number of portfolio holdings** | 479 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Income Opportunities Fund \| Class A **\|** SSR164_01_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Columbia Short Duration High Yield ETF | 1.4% |
| HUB International, Ltd. 06/15/2030 7.250% | 0.6% |
| Picard Midco, Inc. 03/31/2029 6.500% | 0.6% |
| CCO Holdings LLC/Capital Corp. 08/15/2030 4.500% | 0.6% |
| Hudbay Minerals, Inc. 04/01/2029 6.125% | 0.6% |
| TransDigm, Inc. 03/01/2032 6.625% | 0.6% |
| Herc Holdings, Inc. 06/15/2033 7.250% | 0.5% |
| Venture Global Plaquemines LNG LLC 01/15/2036 6.750% | 0.5% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.5% |
| Aretec Escrow Issuer 2, Inc. 08/15/2030 10.000% | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 92.2% |
| Money Market Funds | 2.9% |
| Exchange-Traded Fixed Income Funds | 1.4% |
| Senior Loans | 1.4% |
| Other | 1.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Income Opportunities Fund \| Class A **\|** SSR164_01_(03/26) \|

# Columbia Income Opportunities Fund
Class C \| RIOCX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $87 | 1.70%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $725419612 |
| **Total number of portfolio holdings** | 479 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Income Opportunities Fund \| Class C **\|** SSR164_04_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Columbia Short Duration High Yield ETF | 1.4% |
| HUB International, Ltd. 06/15/2030 7.250% | 0.6% |
| Picard Midco, Inc. 03/31/2029 6.500% | 0.6% |
| CCO Holdings LLC/Capital Corp. 08/15/2030 4.500% | 0.6% |
| Hudbay Minerals, Inc. 04/01/2029 6.125% | 0.6% |
| TransDigm, Inc. 03/01/2032 6.625% | 0.6% |
| Herc Holdings, Inc. 06/15/2033 7.250% | 0.5% |
| Venture Global Plaquemines LNG LLC 01/15/2036 6.750% | 0.5% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.5% |
| Aretec Escrow Issuer 2, Inc. 08/15/2030 10.000% | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 92.2% |
| Money Market Funds | 2.9% |
| Exchange-Traded Fixed Income Funds | 1.4% |
| Senior Loans | 1.4% |
| Other | 1.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Income Opportunities Fund \| Class C **\|** SSR164_04_(03/26) \|

# Columbia Income Opportunities Fund
Class S \| CIODX

![Image](g80035g87e39.jpg)

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

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

---

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

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $725419612 |
| **Total number of portfolio holdings** | 479 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Income Opportunities Fund \| Class S **\|** SSR164_16_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Columbia Short Duration High Yield ETF | 1.4% |
| HUB International, Ltd. 06/15/2030 7.250% | 0.6% |
| Picard Midco, Inc. 03/31/2029 6.500% | 0.6% |
| CCO Holdings LLC/Capital Corp. 08/15/2030 4.500% | 0.6% |
| Hudbay Minerals, Inc. 04/01/2029 6.125% | 0.6% |
| TransDigm, Inc. 03/01/2032 6.625% | 0.6% |
| Herc Holdings, Inc. 06/15/2033 7.250% | 0.5% |
| Venture Global Plaquemines LNG LLC 01/15/2036 6.750% | 0.5% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.5% |
| Aretec Escrow Issuer 2, Inc. 08/15/2030 10.000% | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 92.2% |
| Money Market Funds | 2.9% |
| Exchange-Traded Fixed Income Funds | 1.4% |
| Senior Loans | 1.4% |
| Other | 1.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Income Opportunities Fund \| Class S **\|** SSR164_16_(03/26) \|

# Columbia Income Opportunities Fund
Institutional 2 Class \| CEPRX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $33 | 0.64%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $725419612 |
| **Total number of portfolio holdings** | 479 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Income Opportunities Fund \| Institutional 2 Class **\|** SSR164_15_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Columbia Short Duration High Yield ETF | 1.4% |
| HUB International, Ltd. 06/15/2030 7.250% | 0.6% |
| Picard Midco, Inc. 03/31/2029 6.500% | 0.6% |
| CCO Holdings LLC/Capital Corp. 08/15/2030 4.500% | 0.6% |
| Hudbay Minerals, Inc. 04/01/2029 6.125% | 0.6% |
| TransDigm, Inc. 03/01/2032 6.625% | 0.6% |
| Herc Holdings, Inc. 06/15/2033 7.250% | 0.5% |
| Venture Global Plaquemines LNG LLC 01/15/2036 6.750% | 0.5% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.5% |
| Aretec Escrow Issuer 2, Inc. 08/15/2030 10.000% | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 92.2% |
| Money Market Funds | 2.9% |
| Exchange-Traded Fixed Income Funds | 1.4% |
| Senior Loans | 1.4% |
| Other | 1.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Income Opportunities Fund \| Institutional 2 Class **\|** SSR164_15_(03/26) \|

# Columbia Income Opportunities Fund
Institutional 3 Class \| CIOYX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $30 | 0.59%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $725419612 |
| **Total number of portfolio holdings** | 479 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Income Opportunities Fund \| Institutional 3 Class **\|** SSR164_17_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Columbia Short Duration High Yield ETF | 1.4% |
| HUB International, Ltd. 06/15/2030 7.250% | 0.6% |
| Picard Midco, Inc. 03/31/2029 6.500% | 0.6% |
| CCO Holdings LLC/Capital Corp. 08/15/2030 4.500% | 0.6% |
| Hudbay Minerals, Inc. 04/01/2029 6.125% | 0.6% |
| TransDigm, Inc. 03/01/2032 6.625% | 0.6% |
| Herc Holdings, Inc. 06/15/2033 7.250% | 0.5% |
| Venture Global Plaquemines LNG LLC 01/15/2036 6.750% | 0.5% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.5% |
| Aretec Escrow Issuer 2, Inc. 08/15/2030 10.000% | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 92.2% |
| Money Market Funds | 2.9% |
| Exchange-Traded Fixed Income Funds | 1.4% |
| Senior Loans | 1.4% |
| Other | 1.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Income Opportunities Fund \| Institutional 3 Class **\|** SSR164_17_(03/26) \|

# Columbia Income Opportunities Fund
Institutional Class \| CIOZX

![Image](g80035g87e39.jpg)

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

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

---

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

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $725419612 |
| **Total number of portfolio holdings** | 479 |
| **Portfolio turnover for the reporting period** | 22% |

---

Columbia Income Opportunities Fund \| Institutional Class **\|** SSR164_08_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Columbia Short Duration High Yield ETF | 1.4% |
| HUB International, Ltd. 06/15/2030 7.250% | 0.6% |
| Picard Midco, Inc. 03/31/2029 6.500% | 0.6% |
| CCO Holdings LLC/Capital Corp. 08/15/2030 4.500% | 0.6% |
| Hudbay Minerals, Inc. 04/01/2029 6.125% | 0.6% |
| TransDigm, Inc. 03/01/2032 6.625% | 0.6% |
| Herc Holdings, Inc. 06/15/2033 7.250% | 0.5% |
| Venture Global Plaquemines LNG LLC 01/15/2036 6.750% | 0.5% |
| Ascend Learning LLC 12/11/2028 6.672% | 0.5% |
| Aretec Escrow Issuer 2, Inc. 08/15/2030 10.000% | 0.5% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 92.2% |
| Money Market Funds | 2.9% |
| Exchange-Traded Fixed Income Funds | 1.4% |
| Senior Loans | 1.4% |
| Other | 1.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Income Opportunities Fund \| Institutional Class **\|** SSR164_08_(03/26) \|

# Columbia Minnesota Tax-Exempt Fund
Class A \| IMNTX

![Image](g80035g87e39.jpg)

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

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

---

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

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $488302885 |
| **Total number of portfolio holdings** | 235 |
| **Portfolio turnover for the reporting period** | 2% |

---

Columbia Minnesota Tax-Exempt Fund \| Class A **\|** SSR199_01_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| City of Rochester 11/15/2057 5.000% | 2.7% |
| City of Maple Grove 05/01/2037 4.000% | 2.1% |
| Roseville Independent School District No. 623 02/01/2038 4.000% | 2.1% |
| Brainerd Independent School District No. 181 02/01/2037 4.000% | 2.0% |
| Minnesota Higher Education Facilities Authority 10/01/2052 5.000% | 1.6% |
| County of Chippewa 03/01/2037 4.000% | 1.5% |
| Stillwater Independent School District No. 834 02/01/2042 4.000% | 1.4% |
| State of Minnesota 08/01/2043 4.000% | 1.4% |
| City of Minneapolis 11/15/2044 5.000% | 1.3% |
| Mounds View Independent School District No. 621 02/01/2043 4.000% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.2% |
| Money Market Funds | 6.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Minnesota Tax-Exempt Fund \| Class A **\|** SSR199_01_(03/26) \|

# Columbia Minnesota Tax-Exempt Fund
Class C \| RMTCX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $81 | 1.56%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $488302885 |
| **Total number of portfolio holdings** | 235 |
| **Portfolio turnover for the reporting period** | 2% |

---

Columbia Minnesota Tax-Exempt Fund \| Class C **\|** SSR199_04_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| City of Rochester 11/15/2057 5.000% | 2.7% |
| City of Maple Grove 05/01/2037 4.000% | 2.1% |
| Roseville Independent School District No. 623 02/01/2038 4.000% | 2.1% |
| Brainerd Independent School District No. 181 02/01/2037 4.000% | 2.0% |
| Minnesota Higher Education Facilities Authority 10/01/2052 5.000% | 1.6% |
| County of Chippewa 03/01/2037 4.000% | 1.5% |
| Stillwater Independent School District No. 834 02/01/2042 4.000% | 1.4% |
| State of Minnesota 08/01/2043 4.000% | 1.4% |
| City of Minneapolis 11/15/2044 5.000% | 1.3% |
| Mounds View Independent School District No. 621 02/01/2043 4.000% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.2% |
| Money Market Funds | 6.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Minnesota Tax-Exempt Fund \| Class C **\|** SSR199_04_(03/26) \|

# Columbia Minnesota Tax-Exempt Fund
Institutional 2 Class \| CADOX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $29 | 0.56%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $488302885 |
| **Total number of portfolio holdings** | 235 |
| **Portfolio turnover for the reporting period** | 2% |

---

Columbia Minnesota Tax-Exempt Fund \| Institutional 2 Class **\|** SSR199_15_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| City of Rochester 11/15/2057 5.000% | 2.7% |
| City of Maple Grove 05/01/2037 4.000% | 2.1% |
| Roseville Independent School District No. 623 02/01/2038 4.000% | 2.1% |
| Brainerd Independent School District No. 181 02/01/2037 4.000% | 2.0% |
| Minnesota Higher Education Facilities Authority 10/01/2052 5.000% | 1.6% |
| County of Chippewa 03/01/2037 4.000% | 1.5% |
| Stillwater Independent School District No. 834 02/01/2042 4.000% | 1.4% |
| State of Minnesota 08/01/2043 4.000% | 1.4% |
| City of Minneapolis 11/15/2044 5.000% | 1.3% |
| Mounds View Independent School District No. 621 02/01/2043 4.000% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.2% |
| Money Market Funds | 6.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Minnesota Tax-Exempt Fund \| Institutional 2 Class **\|** SSR199_15_(03/26) \|

# Columbia Minnesota Tax-Exempt Fund
Institutional 3 Class \| CMNYX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $27 | 0.51%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $488302885 |
| **Total number of portfolio holdings** | 235 |
| **Portfolio turnover for the reporting period** | 2% |

---

Columbia Minnesota Tax-Exempt Fund \| Institutional 3 Class **\|** SSR199_17_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| City of Rochester 11/15/2057 5.000% | 2.7% |
| City of Maple Grove 05/01/2037 4.000% | 2.1% |
| Roseville Independent School District No. 623 02/01/2038 4.000% | 2.1% |
| Brainerd Independent School District No. 181 02/01/2037 4.000% | 2.0% |
| Minnesota Higher Education Facilities Authority 10/01/2052 5.000% | 1.6% |
| County of Chippewa 03/01/2037 4.000% | 1.5% |
| Stillwater Independent School District No. 834 02/01/2042 4.000% | 1.4% |
| State of Minnesota 08/01/2043 4.000% | 1.4% |
| City of Minneapolis 11/15/2044 5.000% | 1.3% |
| Mounds View Independent School District No. 621 02/01/2043 4.000% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.2% |
| Money Market Funds | 6.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Minnesota Tax-Exempt Fund \| Institutional 3 Class **\|** SSR199_17_(03/26) \|

# Columbia Minnesota Tax-Exempt Fund
Institutional Class \| CMNZX

![Image](g80035g87e39.jpg)

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

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

---

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

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $488302885 |
| **Total number of portfolio holdings** | 235 |
| **Portfolio turnover for the reporting period** | 2% |

---

Columbia Minnesota Tax-Exempt Fund \| Institutional Class **\|** SSR199_08_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| City of Rochester 11/15/2057 5.000% | 2.7% |
| City of Maple Grove 05/01/2037 4.000% | 2.1% |
| Roseville Independent School District No. 623 02/01/2038 4.000% | 2.1% |
| Brainerd Independent School District No. 181 02/01/2037 4.000% | 2.0% |
| Minnesota Higher Education Facilities Authority 10/01/2052 5.000% | 1.6% |
| County of Chippewa 03/01/2037 4.000% | 1.5% |
| Stillwater Independent School District No. 834 02/01/2042 4.000% | 1.4% |
| State of Minnesota 08/01/2043 4.000% | 1.4% |
| City of Minneapolis 11/15/2044 5.000% | 1.3% |
| Mounds View Independent School District No. 621 02/01/2043 4.000% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.2% |
| Money Market Funds | 6.0% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Minnesota Tax-Exempt Fund \| Institutional Class **\|** SSR199_08_(03/26) \|

# Columbia Select Short Corporate Income Fund
Class A \| ALDAX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class A | $35 | 0.69%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $495948729 |
| **Total number of portfolio holdings** | 101 |
| **Portfolio turnover for the reporting period** | 54% |

---

Columbia Select Short Corporate Income Fund \| Class A **\|** SSR183_01_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Principal Life Global Funding II 11/27/2029 4.950% | 3.0% |
| Bacardi-Martini BV 02/01/2030 5.550% | 2.7% |
| U.S. Treasury 01/31/2026 0.375% | 2.6% |
| Bank of America Corp. 10/24/2031 1.922% | 2.3% |
| Gilead Sciences, Inc. 03/01/2026 3.650% | 2.2% |
| Occidental Petroleum Corp. 09/01/2030 6.625% | 2.1% |
| Morgan Stanley Private Bank 11/19/2031 4.465% | 1.9% |
| Citigroup, Inc. 09/11/2031 4.503% | 1.8% |
| T-Mobile US, Inc. 02/15/2026 2.250% | 1.8% |
| Northrop Grumman Corp. 02/01/2027 3.200% | 1.7% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 89.4% |
| Money Market Funds | 6.7% |
| U.S. Treasury Obligations | 2.7% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Select Short Corporate Income Fund \| Class A **\|** SSR183_01_(03/26) \|

# Columbia Select Short Corporate Income Fund
Class C \| RDCLX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $73 | 1.44%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $495948729 |
| **Total number of portfolio holdings** | 101 |
| **Portfolio turnover for the reporting period** | 54% |

---

Columbia Select Short Corporate Income Fund \| Class C **\|** SSR183_04_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Principal Life Global Funding II 11/27/2029 4.950% | 3.0% |
| Bacardi-Martini BV 02/01/2030 5.550% | 2.7% |
| U.S. Treasury 01/31/2026 0.375% | 2.6% |
| Bank of America Corp. 10/24/2031 1.922% | 2.3% |
| Gilead Sciences, Inc. 03/01/2026 3.650% | 2.2% |
| Occidental Petroleum Corp. 09/01/2030 6.625% | 2.1% |
| Morgan Stanley Private Bank 11/19/2031 4.465% | 1.9% |
| Citigroup, Inc. 09/11/2031 4.503% | 1.8% |
| T-Mobile US, Inc. 02/15/2026 2.250% | 1.8% |
| Northrop Grumman Corp. 02/01/2027 3.200% | 1.7% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 89.4% |
| Money Market Funds | 6.7% |
| U.S. Treasury Obligations | 2.7% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Select Short Corporate Income Fund \| Class C **\|** SSR183_04_(03/26) \|

# Columbia Select Short Corporate Income Fund
Institutional 2 Class \| CTLRX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $20 | 0.39%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $495948729 |
| **Total number of portfolio holdings** | 101 |
| **Portfolio turnover for the reporting period** | 54% |

---

Columbia Select Short Corporate Income Fund \| Institutional 2 Class **\|** SSR183_15_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Principal Life Global Funding II 11/27/2029 4.950% | 3.0% |
| Bacardi-Martini BV 02/01/2030 5.550% | 2.7% |
| U.S. Treasury 01/31/2026 0.375% | 2.6% |
| Bank of America Corp. 10/24/2031 1.922% | 2.3% |
| Gilead Sciences, Inc. 03/01/2026 3.650% | 2.2% |
| Occidental Petroleum Corp. 09/01/2030 6.625% | 2.1% |
| Morgan Stanley Private Bank 11/19/2031 4.465% | 1.9% |
| Citigroup, Inc. 09/11/2031 4.503% | 1.8% |
| T-Mobile US, Inc. 02/15/2026 2.250% | 1.8% |
| Northrop Grumman Corp. 02/01/2027 3.200% | 1.7% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 89.4% |
| Money Market Funds | 6.7% |
| U.S. Treasury Obligations | 2.7% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Select Short Corporate Income Fund \| Institutional 2 Class **\|** SSR183_15_(03/26) \|

# Columbia Select Short Corporate Income Fund
Institutional 3 Class \| CLDYX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $17 | 0.34%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $495948729 |
| **Total number of portfolio holdings** | 101 |
| **Portfolio turnover for the reporting period** | 54% |

---

Columbia Select Short Corporate Income Fund \| Institutional 3 Class **\|** SSR183_17_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Principal Life Global Funding II 11/27/2029 4.950% | 3.0% |
| Bacardi-Martini BV 02/01/2030 5.550% | 2.7% |
| U.S. Treasury 01/31/2026 0.375% | 2.6% |
| Bank of America Corp. 10/24/2031 1.922% | 2.3% |
| Gilead Sciences, Inc. 03/01/2026 3.650% | 2.2% |
| Occidental Petroleum Corp. 09/01/2030 6.625% | 2.1% |
| Morgan Stanley Private Bank 11/19/2031 4.465% | 1.9% |
| Citigroup, Inc. 09/11/2031 4.503% | 1.8% |
| T-Mobile US, Inc. 02/15/2026 2.250% | 1.8% |
| Northrop Grumman Corp. 02/01/2027 3.200% | 1.7% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 89.4% |
| Money Market Funds | 6.7% |
| U.S. Treasury Obligations | 2.7% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Select Short Corporate Income Fund \| Institutional 3 Class **\|** SSR183_17_(03/26) \|

# Columbia Select Short Corporate Income Fund
Institutional Class \| CLDZX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $23 | 0.44%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $495948729 |
| **Total number of portfolio holdings** | 101 |
| **Portfolio turnover for the reporting period** | 54% |

---

Columbia Select Short Corporate Income Fund \| Institutional Class **\|** SSR183_08_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Principal Life Global Funding II 11/27/2029 4.950% | 3.0% |
| Bacardi-Martini BV 02/01/2030 5.550% | 2.7% |
| U.S. Treasury 01/31/2026 0.375% | 2.6% |
| Bank of America Corp. 10/24/2031 1.922% | 2.3% |
| Gilead Sciences, Inc. 03/01/2026 3.650% | 2.2% |
| Occidental Petroleum Corp. 09/01/2030 6.625% | 2.1% |
| Morgan Stanley Private Bank 11/19/2031 4.465% | 1.9% |
| Citigroup, Inc. 09/11/2031 4.503% | 1.8% |
| T-Mobile US, Inc. 02/15/2026 2.250% | 1.8% |
| Northrop Grumman Corp. 02/01/2027 3.200% | 1.7% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Corporate Bonds & Notes | 89.4% |
| Money Market Funds | 6.7% |
| U.S. Treasury Obligations | 2.7% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Select Short Corporate Income Fund \| Institutional Class **\|** SSR183_08_(03/26) \|

# Columbia Short-Term Cash Fund
![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Fund | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Columbia Short-Term Cash Fund | $1 | 0.01%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $15415051653 |
| **Total number of portfolio holdings** | 192 |

---

Columbia Short-Term Cash Fund \| SSR224_(03/26) \|

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

### Top Holdings

---

| | |
|:---|:---|
| Federal Home Loan Banks Discount Notes 02/02/2026 3.740% | 5.5% |
| Federal Farm Credit Discount Notes 02/02/2026 3.820% | 3.9% |
| Commerzbank US Finance, Inc. 02/02/2026 3.740% | 2.1% |
| Canadian Imperial Bank of Commerce 02/06/2026 3.740% | 2.0% |
| U.S. Treasury Bills 02/17/2026 3.050% | 1.6% |
| Australia and New Zealand Banking Group Ltd. 02/02/2026 3.620% | 1.5% |
| Federal Home Loan Banks 03/09/2027 3.770% | 1.4% |
| Federal Home Loan Banks Discount Notes 02/06/2026 3.730% | 1.4% |
| UnitedHealth Group, Inc. 02/02/2026 3.800% | 1.3% |
| U.S. Treasury Bills 02/03/2026 0.900% | 1.3% |

---

#### Asset Categories

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 43.7% |
| Commercial Paper | 33.5% |
| Treasury Bills | 8.4% |
| Certificates of Deposit | 4.3% |
| Asset-Backed Commercial Paper | 3.8% |
| Asset-Backed Securities - Non-Agency | 1.9% |
| U.S. Treasury Obligations | 1.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, federal tax information and proxy voting information, is available upon request.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Short-Term Cash Fund \| SSR224_(03/26) \|

# Columbia Strategic Municipal Income Fund
Class A \| INTAX

![Image](g80035g87e39.jpg)

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

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

---

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

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1577089420 |
| **Total number of portfolio holdings** | 453 |
| **Portfolio turnover for the reporting period** | 8% |

---

Columbia Strategic Municipal Income Fund \| Class A **\|** SSR118_01_(03/26) \|

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

### Top States/Territories

---

| | |
|:---|:---|
| New York | 12.4% |
| Texas | 9.9% |
| Illinois | 8.4% |
| Puerto Rico | 5.3% |
| New Jersey | 5.0% |
| California | 4.8% |
| Alabama | 4.4% |
| Pennsylvania | 4.3% |
| Wisconsin | 4.3% |
| Michigan | 3.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.0% |
| Money Market Funds | 4.2% |
| Floating Rate Notes | 1.8% |
| Other | 0.2% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Strategic Municipal Income Fund \| Class A **\|** SSR118_01_(03/26) \|

# Columbia Strategic Municipal Income Fund
Class C \| RTCEX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class C | $78 | 1.50%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1577089420 |
| **Total number of portfolio holdings** | 453 |
| **Portfolio turnover for the reporting period** | 8% |

---

Columbia Strategic Municipal Income Fund \| Class C **\|** SSR118_04_(03/26) \|

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

### Top States/Territories

---

| | |
|:---|:---|
| New York | 12.4% |
| Texas | 9.9% |
| Illinois | 8.4% |
| Puerto Rico | 5.3% |
| New Jersey | 5.0% |
| California | 4.8% |
| Alabama | 4.4% |
| Pennsylvania | 4.3% |
| Wisconsin | 4.3% |
| Michigan | 3.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.0% |
| Money Market Funds | 4.2% |
| Floating Rate Notes | 1.8% |
| Other | 0.2% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Strategic Municipal Income Fund \| Class C **\|** SSR118_04_(03/26) \|

# Columbia Strategic Municipal Income Fund
Class S \| CATSX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Class S | $26 | 0.50%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1577089420 |
| **Total number of portfolio holdings** | 453 |
| **Portfolio turnover for the reporting period** | 8% |

---

Columbia Strategic Municipal Income Fund \| Class S **\|** SSR118_16_(03/26) \|

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

### Top States/Territories

---

| | |
|:---|:---|
| New York | 12.4% |
| Texas | 9.9% |
| Illinois | 8.4% |
| Puerto Rico | 5.3% |
| New Jersey | 5.0% |
| California | 4.8% |
| Alabama | 4.4% |
| Pennsylvania | 4.3% |
| Wisconsin | 4.3% |
| Michigan | 3.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.0% |
| Money Market Funds | 4.2% |
| Floating Rate Notes | 1.8% |
| Other | 0.2% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Strategic Municipal Income Fund \| Class S **\|** SSR118_16_(03/26) \|

# Columbia Strategic Municipal Income Fund
Institutional 2 Class \| CADNX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 2 Class | $26 | 0.49%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1577089420 |
| **Total number of portfolio holdings** | 453 |
| **Portfolio turnover for the reporting period** | 8% |

---

Columbia Strategic Municipal Income Fund \| Institutional 2 Class **\|** SSR118_15_(03/26) \|

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

### Top States/Territories

---

| | |
|:---|:---|
| New York | 12.4% |
| Texas | 9.9% |
| Illinois | 8.4% |
| Puerto Rico | 5.3% |
| New Jersey | 5.0% |
| California | 4.8% |
| Alabama | 4.4% |
| Pennsylvania | 4.3% |
| Wisconsin | 4.3% |
| Michigan | 3.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.0% |
| Money Market Funds | 4.2% |
| Floating Rate Notes | 1.8% |
| Other | 0.2% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Strategic Municipal Income Fund \| Institutional 2 Class **\|** SSR118_15_(03/26) \|

# Columbia Strategic Municipal Income Fund
Institutional 3 Class \| CATYX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional 3 Class | $23 | 0.44%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1577089420 |
| **Total number of portfolio holdings** | 453 |
| **Portfolio turnover for the reporting period** | 8% |

---

Columbia Strategic Municipal Income Fund \| Institutional 3 Class **\|** SSR118_17_(03/26) \|

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

### Top States/Territories

---

| | |
|:---|:---|
| New York | 12.4% |
| Texas | 9.9% |
| Illinois | 8.4% |
| Puerto Rico | 5.3% |
| New Jersey | 5.0% |
| California | 4.8% |
| Alabama | 4.4% |
| Pennsylvania | 4.3% |
| Wisconsin | 4.3% |
| Michigan | 3.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.0% |
| Money Market Funds | 4.2% |
| Floating Rate Notes | 1.8% |
| Other | 0.2% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Strategic Municipal Income Fund \| Institutional 3 Class **\|** SSR118_17_(03/26) \|

# Columbia Strategic Municipal Income Fund
Institutional Class \| CATZX

![Image](g80035g87e39.jpg)

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

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

---

| | | |
|:---|:---|:---|
| Class | Cost of a $10,000 investment | Cost paid as a percentage of a $10,000 investment |
| Institutional Class | $26 | 0.50%<sup>Footnote Reference(a)</sup> |

---

---

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

---

## Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1577089420 |
| **Total number of portfolio holdings** | 453 |
| **Portfolio turnover for the reporting period** | 8% |

---

Columbia Strategic Municipal Income Fund \| Institutional Class **\|** SSR118_08_(03/26) \|

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

### Top States/Territories

---

| | |
|:---|:---|
| New York | 12.4% |
| Texas | 9.9% |
| Illinois | 8.4% |
| Puerto Rico | 5.3% |
| New Jersey | 5.0% |
| California | 4.8% |
| Alabama | 4.4% |
| Pennsylvania | 4.3% |
| Wisconsin | 4.3% |
| Michigan | 3.9% |

---

#### Asset Categories

---

| | |
|:---|:---|
| Municipal Bonds | 93.0% |
| Money Market Funds | 4.2% |
| Floating Rate Notes | 1.8% |
| Other | 0.2% |

---

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

![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.columbiathreadneedleus.com/resources/literature](g80035g50z95.jpg)

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

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

Columbia Strategic Municipal Income Fund \| Institutional Class **\|** SSR118_08_(03/26) \|

------

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

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

#### Item 4. Principal Accountant Fees and Services.
Not applicable.

#### Item 5. Audit Committee of Listed Registrants.
Not applicable.

#### Item 6. Investments.
(a) The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 7 of this Form N-CSR.

(b) Not applicable.

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

------

![](g80035img072e9c131.jpg)

Columbia Disciplined Core Fund

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

January 31, 2026 (Unaudited)

---

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

---

------

**Table of Contents**

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

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_56611fef-a725-4a14-aa93-eb3483fb224a_POI-CommonContent-Date-97_1) | 3 |
| [Statement of Assets and Liabilities](#xx_56611fef-a725-4a14-aa93-eb3483fb224a_FS-CommonContent-Date-97_1) | 8 |
| [Statement of Operations](#xx_56611fef-a725-4a14-aa93-eb3483fb224a_FS-CommonContent-Date-97_2) | 9 |
| [Statement of Changes in Net Assets](#xx_56611fef-a725-4a14-aa93-eb3483fb224a_FS-CommonContent-Date-97_3) | 10 |
| [Financial Highlights](#xx_56611fef-a725-4a14-aa93-eb3483fb224a_FIHI-CommonContent-Date-97_1) | 12 |
| [Notes to Financial Statements](#xx_56611fef-a725-4a14-aa93-eb3483fb224a_NTF-CommonContent-Date-97_1) | 16 |

---

Columbia Disciplined Core Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 98.7%** | **Common Stocks 98.7%** | **Common Stocks 98.7%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 11.6%** | **Communication Services 11.6%** | **Communication Services 11.6%** |
| **Interactive Media & Services 11.6%** | **Interactive Media & Services 11.6%** | **Interactive Media & Services 11.6%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp; 1104417 | &nbsp;&nbsp; 373292946 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 286525 | &nbsp;&nbsp; 205295162 |
| Total |  | &nbsp;&nbsp; 578588108 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **578588108** |
| **Consumer Discretionary 10.4%** | **Consumer Discretionary 10.4%** | **Consumer Discretionary 10.4%** |
| **Automobile Components 1.2%** | **Automobile Components 1.2%** | **Automobile Components 1.2%** |
| Aptiv PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 810195 | &nbsp;&nbsp; 61372271 |
| **Automobiles 1.1%** | **Automobiles 1.1%** | **Automobiles 1.1%** |
| Tesla, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 127157 | &nbsp;&nbsp; 54729644 |
| **Broadline Retail 3.3%** | **Broadline Retail 3.3%** | **Broadline Retail 3.3%** |
| Amazon.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 686007 | &nbsp;&nbsp; 164161475 |
| **Hotels, Restaurants & Leisure 1.9%** | **Hotels, Restaurants & Leisure 1.9%** | **Hotels, Restaurants & Leisure 1.9%** |
| Booking Holdings, Inc. | &nbsp;&nbsp; 17650 | &nbsp;&nbsp; 88282476 |
| Expedia Group, Inc. | &nbsp;&nbsp; 25200 | &nbsp;&nbsp; 6673968 |
| Total |  | &nbsp;&nbsp; 94956444 |
| **Specialty Retail 0.3%** | **Specialty Retail 0.3%** | **Specialty Retail 0.3%** |
| Ross Stores, Inc. | &nbsp;&nbsp; 78788 | &nbsp;&nbsp; 14863356 |
| **Textiles, Apparel & Luxury Goods 2.6%** | **Textiles, Apparel & Luxury Goods 2.6%** | **Textiles, Apparel & Luxury Goods 2.6%** |
| Ralph Lauren Corp. | &nbsp;&nbsp; 184936 | &nbsp;&nbsp; 65358232 |
| Tapestry, Inc. | &nbsp;&nbsp; 500082 | &nbsp;&nbsp; 63465407 |
| Total |  | &nbsp;&nbsp; 128823639 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **518906829** |
| **Consumer Staples 4.5%** | **Consumer Staples 4.5%** | **Consumer Staples 4.5%** |
| **Beverages 0.5%** | **Beverages 0.5%** | **Beverages 0.5%** |
| Molson Coors Beverage Co., Class B | &nbsp;&nbsp; 535502 | &nbsp;&nbsp; 25725516 |
| **Consumer Staples Distribution & Retail 0.3%** | **Consumer Staples Distribution & Retail 0.3%** | **Consumer Staples Distribution & Retail 0.3%** |
| Kroger Co. (The) | &nbsp;&nbsp; 122600 | &nbsp;&nbsp; 7705410 |
| Target Corp. | &nbsp;&nbsp; 73648 | &nbsp;&nbsp; 7767655 |
| Total |  | &nbsp;&nbsp; 15473065 |
| **Food Products 0.2%** | **Food Products 0.2%** | **Food Products 0.2%** |
| ConAgra Foods, Inc. | &nbsp;&nbsp; 443916 | &nbsp;&nbsp; 8216885 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Household Products 1.6%** | **Household Products 1.6%** | **Household Products 1.6%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 114590 | &nbsp;&nbsp; 10346331 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 468940 | &nbsp;&nbsp; 71171024 |
| Total |  | &nbsp;&nbsp; 81517355 |
| **Tobacco 1.9%** | **Tobacco 1.9%** | **Tobacco 1.9%** |
| Altria Group, Inc. | &nbsp;&nbsp; 1496662 | &nbsp;&nbsp; 92778077 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **223710898** |
| **Energy 3.2%** | **Energy 3.2%** | **Energy 3.2%** |
| **Oil, Gas & Consumable Fuels 3.2%** | **Oil, Gas & Consumable Fuels 3.2%** | **Oil, Gas & Consumable Fuels 3.2%** |
| Chevron Corp. | &nbsp;&nbsp; 638108 | &nbsp;&nbsp; 112881305 |
| Exxon Mobil Corp. | &nbsp;&nbsp; 186803 | &nbsp;&nbsp; 26413944 |
| Valero Energy Corp. | &nbsp;&nbsp; 108836 | &nbsp;&nbsp; 19746116 |
| Total |  | &nbsp;&nbsp; 159041365 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **159041365** |
| **Financials 12.5%** | **Financials 12.5%** | **Financials 12.5%** |
| **Banks 2.6%** | **Banks 2.6%** | **Banks 2.6%** |
| Citigroup, Inc. | &nbsp;&nbsp; 790991 | &nbsp;&nbsp; 91525569 |
| U.S. Bancorp | &nbsp;&nbsp; 694500 | &nbsp;&nbsp; 38968395 |
| Total |  | &nbsp;&nbsp; 130493964 |
| **Capital Markets 4.8%** | **Capital Markets 4.8%** | **Capital Markets 4.8%** |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp; 601447 | &nbsp;&nbsp; 72125524 |
| Blackrock, Inc. | &nbsp;&nbsp; 58253 | &nbsp;&nbsp; 65181612 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp; 28400 | &nbsp;&nbsp; 7527704 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 342514 | &nbsp;&nbsp; 35594055 |
| CME Group, Inc. | &nbsp;&nbsp; 29937 | &nbsp;&nbsp; 8653589 |
| S&P Global, Inc. | &nbsp;&nbsp; 102308 | &nbsp;&nbsp; 53997139 |
| Total |  | &nbsp;&nbsp; 243079623 |
| **Consumer Finance 1.7%** | **Consumer Finance 1.7%** | **Consumer Finance 1.7%** |
| Synchrony Financial | &nbsp;&nbsp; 1160808 | &nbsp;&nbsp; 84309485 |
| **Financial Services 1.8%** | **Financial Services 1.8%** | **Financial Services 1.8%** |
| MasterCard, Inc., Class A | &nbsp;&nbsp; 71600 | &nbsp;&nbsp; 38577364 |
| Visa, Inc., Class A | &nbsp;&nbsp; 157526 | &nbsp;&nbsp; 50696593 |
| Total |  | &nbsp;&nbsp; 89273957 |
| **Insurance 1.6%** | **Insurance 1.6%** | **Insurance 1.6%** |
| Allstate Corp. (The) | &nbsp;&nbsp; 397293 | &nbsp;&nbsp; 79057334 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **626214363** |

---

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

Columbia Disciplined Core Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Health Care 9.5%** | **Health Care 9.5%** | **Health Care 9.5%** |
| **Biotechnology 2.1%** | **Biotechnology 2.1%** | **Biotechnology 2.1%** |
| AbbVie, Inc. | &nbsp;&nbsp; 150541 | &nbsp;&nbsp; 33572148 |
| Amgen, Inc. | &nbsp;&nbsp; 56357 | &nbsp;&nbsp; 19267331 |
| Argenx SE, ADR<sup>(a)</sup> <br>| &nbsp;&nbsp; 6535 | &nbsp;&nbsp; 5492668 |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 103649 | &nbsp;&nbsp; 5860314 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp; 19995 | &nbsp;&nbsp; 14825293 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 56251 | &nbsp;&nbsp; 26432345 |
| Total |  | &nbsp;&nbsp; 105450099 |
| **Health Care Equipment & Supplies 0.1%** | **Health Care Equipment & Supplies 0.1%** | **Health Care Equipment & Supplies 0.1%** |
| STERIS PLC | &nbsp;&nbsp; 28263 | &nbsp;&nbsp; 7421864 |
| **Health Care Providers & Services 1.6%** | **Health Care Providers & Services 1.6%** | **Health Care Providers & Services 1.6%** |
| CVS Health Corp. | &nbsp;&nbsp; 319223 | &nbsp;&nbsp; 23788498 |
| McKesson Corp. | &nbsp;&nbsp; 70109 | &nbsp;&nbsp; 58275302 |
| Total |  | &nbsp;&nbsp; 82063800 |
| **Life Sciences Tools & Services 1.4%** | **Life Sciences Tools & Services 1.4%** | **Life Sciences Tools & Services 1.4%** |
| Charles River Laboratories International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 320720 | &nbsp;&nbsp; 67505146 |
| **Pharmaceuticals 4.3%** | **Pharmaceuticals 4.3%** | **Pharmaceuticals 4.3%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 1836982 | &nbsp;&nbsp; 101125859 |
| Pfizer, Inc. | &nbsp;&nbsp; 1483479 | &nbsp;&nbsp; 39223185 |
| Viatris, Inc. | &nbsp;&nbsp; 5768536 | &nbsp;&nbsp; 75510136 |
| Total |  | &nbsp;&nbsp; 215859180 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **478300089** |
| **Industrials 8.1%** | **Industrials 8.1%** | **Industrials 8.1%** |
| **Aerospace & Defense 1.8%** | **Aerospace & Defense 1.8%** | **Aerospace & Defense 1.8%** |
| General Dynamics Corp. | &nbsp;&nbsp; 251854 | &nbsp;&nbsp; 88423421 |
| **Construction & Engineering 0.4%** | **Construction & Engineering 0.4%** | **Construction & Engineering 0.4%** |
| EMCOR Group, Inc. | &nbsp;&nbsp; 27972 | &nbsp;&nbsp; 20160260 |
| **Electrical Equipment 0.2%** | **Electrical Equipment 0.2%** | **Electrical Equipment 0.2%** |
| Rockwell Automation, Inc. | &nbsp;&nbsp; 27776 | &nbsp;&nbsp; 11711750 |
| **Ground Transportation 0.3%** | **Ground Transportation 0.3%** | **Ground Transportation 0.3%** |
| Uber Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 202189 | &nbsp;&nbsp; 16185229 |
| **Machinery 2.9%** | **Machinery 2.9%** | **Machinery 2.9%** |
| Pentair PLC | &nbsp;&nbsp; 746953 | &nbsp;&nbsp; 78706437 |
| Snap-On, Inc. | &nbsp;&nbsp; 182606 | &nbsp;&nbsp; 66853883 |
| Total |  | &nbsp;&nbsp; 145560320 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Passenger Airlines 1.2%** | **Passenger Airlines 1.2%** | **Passenger Airlines 1.2%** |
| Delta Air Lines, Inc. | &nbsp;&nbsp; 594349 | &nbsp;&nbsp; 39161656 |
| United Airlines Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 215806 | &nbsp;&nbsp; 22081270 |
| Total |  | &nbsp;&nbsp; 61242926 |
| **Professional Services 1.3%** | **Professional Services 1.3%** | **Professional Services 1.3%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp; 138612 | &nbsp;&nbsp; 34212214 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp; 149965 | &nbsp;&nbsp; 29559601 |
| Total |  | &nbsp;&nbsp; 63771815 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **407055721** |
| **Information Technology 32.6%** | **Information Technology 32.6%** | **Information Technology 32.6%** |
| **Communications Equipment 2.7%** | **Communications Equipment 2.7%** | **Communications Equipment 2.7%** |
| Arista Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 593918 | &nbsp;&nbsp; 84181938 |
| Cisco Systems, Inc. | &nbsp;&nbsp; 614363 | &nbsp;&nbsp; 48116910 |
| Total |  | &nbsp;&nbsp; 132298848 |
| **Electronic Equipment, Instruments & Components 0.5%** | **Electronic Equipment, Instruments & Components 0.5%** | **Electronic Equipment, Instruments & Components 0.5%** |
| Keysight Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 92200 | &nbsp;&nbsp; 19945626 |
| TE Connectivity PLC | &nbsp;&nbsp; 29230 | &nbsp;&nbsp; 6511859 |
| Total |  | &nbsp;&nbsp; 26457485 |
| **IT Services 0.4%** | **IT Services 0.4%** | **IT Services 0.4%** |
| VeriSign, Inc. | &nbsp;&nbsp; 79592 | &nbsp;&nbsp; 19438754 |
| **Semiconductors & Semiconductor Equipment 14.0%** | **Semiconductors & Semiconductor Equipment 14.0%** | **Semiconductors & Semiconductor Equipment 14.0%** |
| Advanced Micro Devices, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 148917 | &nbsp;&nbsp; 35253121 |
| Broadcom, Inc. | &nbsp;&nbsp; 167905 | &nbsp;&nbsp; 55626927 |
| KLA Corp. | &nbsp;&nbsp; 16067 | &nbsp;&nbsp; 22942712 |
| Micron Technology, Inc. | &nbsp;&nbsp; 96500 | &nbsp;&nbsp; 40035920 |
| NVIDIA Corp. | &nbsp;&nbsp; 2472108 | &nbsp;&nbsp; 472494002 |
| QUALCOMM, Inc. | &nbsp;&nbsp; 502908 | &nbsp;&nbsp; 76235824 |
| Total |  | &nbsp;&nbsp; 702588506 |
| **Software 9.0%** | **Software 9.0%** | **Software 9.0%** |
| Adobe, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 256744 | &nbsp;&nbsp; 75290178 |
| Autodesk, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 27400 | &nbsp;&nbsp; 6928638 |
| Microsoft Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 502248 | &nbsp;&nbsp; 216112292 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 448863 | &nbsp;&nbsp; 65798827 |
| Salesforce, Inc. | &nbsp;&nbsp; 356155 | &nbsp;&nbsp; 75608145 |
| ServiceNow, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 82027 | &nbsp;&nbsp; 9597979 |
| Total |  | &nbsp;&nbsp; 449336059 |

---

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

Columbia Disciplined Core Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Technology Hardware, Storage & Peripherals 6.0%** | **Technology Hardware, Storage & Peripherals 6.0%** | **Technology Hardware, Storage & Peripherals 6.0%** |
| Apple, Inc. | &nbsp;&nbsp; 1165173 | &nbsp;&nbsp; 302339090 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **1632458742** |
| **Materials 2.2%** | **Materials 2.2%** | **Materials 2.2%** |
| **Chemicals 1.3%** | **Chemicals 1.3%** | **Chemicals 1.3%** |
| CF Industries Holdings, Inc. | &nbsp;&nbsp; 719209 | &nbsp;&nbsp; 67051855 |
| **Metals & Mining 0.9%** | **Metals & Mining 0.9%** | **Metals & Mining 0.9%** |
| Newmont Corp. | &nbsp;&nbsp; 388766 | &nbsp;&nbsp; 43677860 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **110729715** |
| **Real Estate 1.6%** | **Real Estate 1.6%** | **Real Estate 1.6%** |
| **Hotel & Resort REITs 0.2%** | **Hotel & Resort REITs 0.2%** | **Hotel & Resort REITs 0.2%** |
| Host Hotels & Resorts, Inc. | &nbsp;&nbsp; 414582 | &nbsp;&nbsp; 7682204 |
| **Specialized REITs 1.4%** | **Specialized REITs 1.4%** | **Specialized REITs 1.4%** |
| American Tower Corp. | &nbsp;&nbsp; 215675 | &nbsp;&nbsp; 38666214 |
| Equinix, Inc. | &nbsp;&nbsp; 15282 | &nbsp;&nbsp; 12545452 |
| SBA Communications Corp. | &nbsp;&nbsp; 106257 | &nbsp;&nbsp; 19562977 |
| Total |  | &nbsp;&nbsp; 70774643 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **78456847** |
| **Utilities 2.5%** | **Utilities 2.5%** | **Utilities 2.5%** |
| **Electric Utilities 2.0%** | **Electric Utilities 2.0%** | **Electric Utilities 2.0%** |
| Edison International | &nbsp;&nbsp; 445559 | &nbsp;&nbsp; 27749415 |
| Exelon Corp. | &nbsp;&nbsp; 657707 | &nbsp;&nbsp; 29452119 |
| PG&E Corp. | &nbsp;&nbsp; 2786019 | &nbsp;&nbsp; 42960413 |
| Total |  | &nbsp;&nbsp; 100161947 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Independent Power and Renewable Electricity Producers 0.5%** | **Independent Power and Renewable Electricity Producers 0.5%** | **Independent Power and Renewable Electricity Producers 0.5%** |
| AES Corp. (The) | &nbsp;&nbsp; 1758686 | &nbsp;&nbsp; 25764750 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **125926697** |
| Total Common Stocks <br>(Cost $2,980,867,032) | Total Common Stocks <br>(Cost $2,980,867,032) | &nbsp;&nbsp; **4939389374** |
| **Money Market Funds 1.3%** | **Money Market Funds 1.3%** | **Money Market Funds 1.3%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 63629913 | &nbsp;&nbsp; 63610824 |
| Total Money Market Funds <br>(Cost $63,608,443) | Total Money Market Funds <br>(Cost $63,608,443) | &nbsp;&nbsp; **63610824** |
| **Total Investments in Securities** <br>**(Cost: $3,044,475,475)** | **Total Investments in Securities** <br>**(Cost: $3,044,475,475)** | &nbsp;&nbsp; **5003000198** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **2121432** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **5005121630** |

---

At January 31, 2026, securities and/or cash totaling $9,036,090 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>|
| S&P 500 Index E-mini | 207 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 72095513 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (175621)<br>|

---

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) This security or a portion of this security has been pledged as collateral in connection with investments sold short and/or derivative contracts.

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

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

Columbia Disciplined Core Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended January 31, 2026 are as follows:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% |
|  | 89302010 | &nbsp;&nbsp; 210222328 | &nbsp;&nbsp; (235911868)<br>| &nbsp;&nbsp; (1646)<br>| &nbsp;&nbsp; 63610824 | &nbsp;&nbsp; 8683 | &nbsp;&nbsp; 1198089 | &nbsp;&nbsp; 63629913 |

---

**Abbreviation Legend** 

ADR American Depositary Receipt

**Currency Legend** 

USD US Dollar

**Fair value measurements** 

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

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

■

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

■

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

■

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

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

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

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

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

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

Columbia Disciplined Core Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 578588108 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 578588108 |
| Consumer Discretionary | 518906829 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 518906829 |
| Consumer Staples | 223710898 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 223710898 |
| Energy | 159041365 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 159041365 |
| Financials | 626214363 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 626214363 |
| Health Care | 478300089 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 478300089 |
| Industrials | 407055721 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 407055721 |
| Information Technology | 1632458742 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1632458742 |
| Materials | 110729715 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 110729715 |
| Real Estate | 78456847 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 78456847 |
| Utilities | 125926697 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 125926697 |
| Total Common Stocks | 4939389374 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4939389374 |
| Money Market Funds | 63610824 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 63610824 |
| Total Investments in Securities | 5003000198 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5003000198 |
| **Investments in Derivatives** |  |  |  |  |
| Liability |  |  |  |  |
| Futures Contracts | (175621)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (175621)<br>|
| Total | 5002824577 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5002824577 |

---

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

Derivative instruments are valued at unrealized appreciation (depreciation).

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

Columbia Disciplined Core Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $2,980,867,032) | $4939389374 |
| Affiliated issuers (cost $63,608,443) | 63610824 |
| Receivable for: |  |
| Capital shares sold | 645807 |
| Dividends | 5270886 |
| Foreign tax reclaims | 50419 |
| Variation margin for futures contracts | 13421 |
| Prepaid expenses | 12573 |
| Total assets | 5008993304 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 2531129 |
| Variation margin for futures contracts | 311850 |
| Management services fees | 85839 |
| Distribution and/or service fees | 31623 |
| Transfer agent fees | 233472 |
| Compensation of chief compliance officer | 406 |
| Compensation of board members | 3061 |
| Other expenses | 80375 |
| Deferred compensation of board members | 593919 |
| Total liabilities | 3871674 |
| **Net assets applicable to outstanding capital stock** | **$5005121630** |
| **Represented by** |  |
| Paid in capital | 2958375797 |
| Total distributable earnings (loss) | 2046745833 |
| **Total - representing net assets applicable to outstanding capital stock** | **$5005121630** |
| **Class A** |  |
| Net assets | $4468809424 |
| Shares outstanding | 295079695 |
| Net asset value per share | $15.14 |
| Maximum sales charge  | 5.75% |
| Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $16.06 |
| **Class C** |  |
| Net assets | $28923182 |
| Shares outstanding | 1998566 |
| Net asset value per share | $14.47 |
| **Institutional Class** |  |
| Net assets | $389952670 |
| Shares outstanding | 25440147 |
| Net asset value per share | $15.33 |
| **Institutional 2 Class** |  |
| Net assets | $70980294 |
| Shares outstanding | 4664727 |
| Net asset value per share | $15.22 |
| **Institutional 3 Class** |  |
| Net assets | $46456060 |
| Shares outstanding | 3026006 |
| Net asset value per share | $15.35 |

---

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

Columbia Disciplined Core Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $34337203 |
| Dividends — affiliated issuers | 1198089 |
| Total income | 35535292 |
| Expenses: |  |
| Management services fees | 15608889 |
| Distribution and/or service fees |  |
| Class A | 5604938 |
| Class C | 150808 |
| Transfer agent fees |  |
| Class A | 1220338 |
| Class C | 8209 |
| Institutional Class | 105392 |
| Institutional 2 Class | 18853 |
| Institutional 3 Class | 1019 |
| Custodian fees | 13045 |
| Printing and postage fees | 79487 |
| Registration fees | 83600 |
| Accounting services fees | 16256 |
| Legal fees | 46493 |
| Interest on collateral | 1878 |
| Compensation of chief compliance officer | 406 |
| Compensation of board members | 31784 |
| Deferred compensation of board members | 74781 |
| Other | 34881 |
| Total expenses | 23101057 |
| Expense reduction | (440)<br>|
| Total net expenses | 23100617 |
| **Net investment income** | 12434675 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 237422724 |
| Investments — affiliated issuers | 8683 |
| Futures contracts | 5282843 |
| Net realized gain | 242714250 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 189047414 |
| Investments — affiliated issuers | (1646)<br>|
| Futures contracts | (379585)<br>|
| Net change in unrealized appreciation (depreciation) | 188666183 |
| Net realized and unrealized gain | 431380433 |
| **Net increase in net assets resulting from operations** | **$443815108** |

---

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

Columbia Disciplined Core Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $12434675 | &nbsp;&nbsp; $31536771 |
| Net realized gain | 242714250 | &nbsp;&nbsp; 469317139 |
| Net change in unrealized appreciation (depreciation) | 188666183 | &nbsp;&nbsp; 36496479 |
| Net increase in net assets resulting from operations | 443815108 | &nbsp;&nbsp; 537350389 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (464816454)<br>| &nbsp;&nbsp; (474245207)<br>|
| Class C | (3067735)<br>| &nbsp;&nbsp; (3301014)<br>|
| Institutional Class | (40800441)<br>| &nbsp;&nbsp; (40547433)<br>|
| Institutional 2 Class | (7767406)<br>| &nbsp;&nbsp; (6837055)<br>|
| Institutional 3 Class | (4925281)<br>| &nbsp;&nbsp; (4770647)<br>|
| Total distributions to shareholders | (521377317)<br>| &nbsp;&nbsp; (529701356)<br>|
| Increase in net assets from capital stock activity | 230640215 | &nbsp;&nbsp; 44298948 |
| Total increase in net assets | 153078006 | &nbsp;&nbsp; 51947981 |
| Net assets at beginning of period | 4852043624 | &nbsp;&nbsp; 4800095643 |
| **Net assets at end of period** | **$5005121630** | &nbsp;&nbsp; **$4852043624** |

---

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

Columbia Disciplined Core Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 898974 | &nbsp;&nbsp;&nbsp;&nbsp; 14081576 | &nbsp;&nbsp;&nbsp;&nbsp; 2431643 | &nbsp;&nbsp;&nbsp;&nbsp; 36444356 |
| Distributions reinvested | 30674586 | &nbsp;&nbsp;&nbsp;&nbsp; 458278315 | &nbsp;&nbsp;&nbsp;&nbsp; 30914624 | &nbsp;&nbsp;&nbsp;&nbsp; 468356556 |
| Shares redeemed | (17243065)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (270148349)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (32108168)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (479344228)<br>|
| Net increase | 14330495 | &nbsp;&nbsp;&nbsp;&nbsp; 202211542 | &nbsp;&nbsp;&nbsp;&nbsp; 1238099 | &nbsp;&nbsp;&nbsp;&nbsp; 25456684 |
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 76693 | &nbsp;&nbsp;&nbsp;&nbsp; 1217529 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1145915)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (19461932)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1069222)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (18244403)<br>|
| Class C |  |  |  |  |
| Shares sold | 122294 | &nbsp;&nbsp;&nbsp;&nbsp; 1850012 | &nbsp;&nbsp;&nbsp;&nbsp; 388727 | &nbsp;&nbsp;&nbsp;&nbsp; 5579202 |
| Distributions reinvested | 214256 | &nbsp;&nbsp;&nbsp;&nbsp; 3061716 | &nbsp;&nbsp;&nbsp;&nbsp; 224564 | &nbsp;&nbsp;&nbsp;&nbsp; 3276386 |
| Shares redeemed | (342281)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5154954)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (611818)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8794633)<br>|
| Net increase (decrease) | (5731)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (243226)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1473 | &nbsp;&nbsp;&nbsp;&nbsp; 60955 |
| Institutional Class |  |  |  |  |
| Shares sold | 2554715 | &nbsp;&nbsp;&nbsp;&nbsp; 40977620 | &nbsp;&nbsp;&nbsp;&nbsp; 6449526 | &nbsp;&nbsp;&nbsp;&nbsp; 99165224 |
| Distributions reinvested | 2672084 | &nbsp;&nbsp;&nbsp;&nbsp; 40401909 | &nbsp;&nbsp;&nbsp;&nbsp; 2622564 | &nbsp;&nbsp;&nbsp;&nbsp; 40151458 |
| Shares redeemed | (3778327)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (60227762)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7569943)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (114828713)<br>|
| Net increase | 1448472 | &nbsp;&nbsp;&nbsp;&nbsp; 21151767 | &nbsp;&nbsp;&nbsp;&nbsp; 1502147 | &nbsp;&nbsp;&nbsp;&nbsp; 24487969 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 522465 | &nbsp;&nbsp;&nbsp;&nbsp; 8366308 | &nbsp;&nbsp;&nbsp;&nbsp; 1281476 | &nbsp;&nbsp;&nbsp;&nbsp; 19282760 |
| Distributions reinvested | 509880 | &nbsp;&nbsp;&nbsp;&nbsp; 7653303 | &nbsp;&nbsp;&nbsp;&nbsp; 444402 | &nbsp;&nbsp;&nbsp;&nbsp; 6759353 |
| Shares redeemed | (715397)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (11135921)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (862919)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12667968)<br>|
| Net increase | 316948 | &nbsp;&nbsp;&nbsp;&nbsp; 4883690 | &nbsp;&nbsp;&nbsp;&nbsp; 862959 | &nbsp;&nbsp;&nbsp;&nbsp; 13374145 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 195670 | &nbsp;&nbsp;&nbsp;&nbsp; 3164846 | &nbsp;&nbsp;&nbsp;&nbsp; 279218 | &nbsp;&nbsp;&nbsp;&nbsp; 4158529 |
| Distributions reinvested | 323681 | &nbsp;&nbsp;&nbsp;&nbsp; 4900535 | &nbsp;&nbsp;&nbsp;&nbsp; 309649 | &nbsp;&nbsp;&nbsp;&nbsp; 4746920 |
| Shares redeemed | (338251)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5428939)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (619145)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9741851)<br>|
| Net increase (decrease) | 181100 | &nbsp;&nbsp;&nbsp;&nbsp; 2636442 | &nbsp;&nbsp;&nbsp;&nbsp; (30278)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (836402)<br>|
| **Total net increase** | **16271284** | &nbsp;&nbsp;&nbsp;&nbsp; **230640215** | &nbsp;&nbsp;&nbsp;&nbsp; **2505178** | &nbsp;&nbsp;&nbsp;&nbsp; **44298948** |

---

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

Columbia Disciplined Core Fund \| 2026

------

Financial Highlights

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $15.44 | 0.04 | 1.37 | 1.41 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.71)<br>|
| Year Ended 7/31/2025 | $15.40 | 0.10 | 1.69 | 1.79 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (1.75)<br>|
| Year Ended 7/31/2024 | $13.18 | 0.09 | 2.64 | 2.73 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.51)<br>|
| Year Ended 7/31/2023 | $12.59 | 0.09 | 1.33 | 1.42 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.83)<br>|
| Year Ended 7/31/2022 | $15.64 | 0.09 | &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (2.42)<br>| &nbsp;&nbsp; (2.54)<br>|
| Year Ended 7/31/2021 | $12.09 | 0.12 | 4.07 | 4.19 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.64)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $14.80 | &nbsp;&nbsp; (0.02)<br>| 1.32 | 1.30 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.63)<br>|
| Year Ended 7/31/2025 | $14.84 | &nbsp;&nbsp; (0.02)<br>| 1.63 | 1.61 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (1.65)<br>|
| Year Ended 7/31/2024 | $12.72 | &nbsp;&nbsp; (0.01)<br>| 2.55 | 2.54 | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.42)<br>|
| Year Ended 7/31/2023 | $12.18 | 0.00 | 1.28 | 1.28 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.74)<br>|
| Year Ended 7/31/2022 | $15.20 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (2.42)<br>| &nbsp;&nbsp; (2.42)<br>|
| Year Ended 7/31/2021 | $11.77 | 0.02 | 3.96 | 3.98 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.55)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $15.63 | 0.06 | 1.39 | 1.45 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.75)<br>|
| Year Ended 7/31/2025 | $15.56 | 0.13 | 1.73 | 1.86 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (1.79)<br>|
| Year Ended 7/31/2024 | $13.31 | 0.13 | 2.66 | 2.79 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.54)<br>|
| Year Ended 7/31/2023 | $12.71 | 0.12 | 1.34 | 1.46 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.86)<br>|
| Year Ended 7/31/2022 | $15.76 | 0.13 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (2.42)<br>| &nbsp;&nbsp; (2.57)<br>|
| Year Ended 7/31/2021 | $12.18 | 0.15 | 4.10 | 4.25 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.67)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $15.52 | 0.06 | 1.39 | 1.45 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.75)<br>|
| Year Ended 7/31/2025 | $15.47 | 0.13 | 1.71 | 1.84 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (1.79)<br>|
| Year Ended 7/31/2024 | $13.24 | 0.12 | 2.65 | 2.77 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.54)<br>|
| Year Ended 7/31/2023 | $12.64 | 0.12 | 1.34 | 1.46 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.86)<br>|
| Year Ended 7/31/2022 | $15.69 | 0.13 | &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (2.42)<br>| &nbsp;&nbsp; (2.58)<br>|
| Year Ended 7/31/2021 | $12.13 | 0.16 | 4.07 | 4.23 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.67)<br>|

---

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

Columbia Disciplined Core Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $15.14 | &nbsp;&nbsp;&nbsp;&nbsp; 9.28%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.94% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.94% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% | &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $4468809 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $15.44 | &nbsp;&nbsp;&nbsp;&nbsp; 11.83%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 49% | &nbsp;&nbsp;&nbsp;&nbsp; $4335448 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.40 | &nbsp;&nbsp;&nbsp;&nbsp; 21.56%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.66% | &nbsp;&nbsp;&nbsp;&nbsp; 51% | &nbsp;&nbsp;&nbsp;&nbsp; $4304873 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.18 | &nbsp;&nbsp;&nbsp;&nbsp; 12.41%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $3874178 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.59 | &nbsp;&nbsp;&nbsp;&nbsp; (5.00%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $3792747 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $15.64 | &nbsp;&nbsp;&nbsp;&nbsp; 35.98%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 69% | &nbsp;&nbsp;&nbsp;&nbsp; $4379045 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $14.47 | &nbsp;&nbsp;&nbsp;&nbsp; 8.90%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.69% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.69% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.28%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $28923 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.80 | &nbsp;&nbsp;&nbsp;&nbsp; 11.00%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.69% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.69% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.11%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 49% | &nbsp;&nbsp;&nbsp;&nbsp; $29670 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.84 | &nbsp;&nbsp;&nbsp;&nbsp; 20.65%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.71% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.71% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 51% | &nbsp;&nbsp;&nbsp;&nbsp; $29728 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $12.72 | &nbsp;&nbsp;&nbsp;&nbsp; 11.57%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.72% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.72% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $25952 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.18 | &nbsp;&nbsp;&nbsp;&nbsp; (5.69%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.70% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.70% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.11%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $30361 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $15.20 | &nbsp;&nbsp;&nbsp;&nbsp; 34.98%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.72% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.72% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.13% | &nbsp;&nbsp;&nbsp;&nbsp; 69% | &nbsp;&nbsp;&nbsp;&nbsp; $39464 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $15.33 | &nbsp;&nbsp;&nbsp;&nbsp; 9.42%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.69% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.69% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.72% | &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $389953 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $15.63 | &nbsp;&nbsp;&nbsp;&nbsp; 12.17%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 49% | &nbsp;&nbsp;&nbsp;&nbsp; $374898 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.56 | &nbsp;&nbsp;&nbsp;&nbsp; 21.86%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 51% | &nbsp;&nbsp;&nbsp;&nbsp; $350005 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.31 | &nbsp;&nbsp;&nbsp;&nbsp; 12.68%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.01% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $299864 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.71 | &nbsp;&nbsp;&nbsp;&nbsp; (4.73%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $310399 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $15.76 | &nbsp;&nbsp;&nbsp;&nbsp; 36.26%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.72% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.14% | &nbsp;&nbsp;&nbsp;&nbsp; 69% | &nbsp;&nbsp;&nbsp;&nbsp; $350842 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $15.22 | &nbsp;&nbsp;&nbsp;&nbsp; 9.49%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.69% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $70980 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $15.52 | &nbsp;&nbsp;&nbsp;&nbsp; 12.11%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.69% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 49% | &nbsp;&nbsp;&nbsp;&nbsp; $67498 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.47 | &nbsp;&nbsp;&nbsp;&nbsp; 21.84%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 51% | &nbsp;&nbsp;&nbsp;&nbsp; $53919 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.24 | &nbsp;&nbsp;&nbsp;&nbsp; 12.76%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $38426 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.64 | &nbsp;&nbsp;&nbsp;&nbsp; (4.74%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $34927 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $15.69 | &nbsp;&nbsp;&nbsp;&nbsp; 36.28%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15% | &nbsp;&nbsp;&nbsp;&nbsp; 69% | &nbsp;&nbsp;&nbsp;&nbsp; $44645 |

---

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

Columbia Disciplined Core Fund \| 2026

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Financial Highlights (continued)

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $15.65 | 0.06 | 1.40 | 1.46 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp; (1.76)<br>|
| Year Ended 7/31/2025 | $15.59 | 0.14 | 1.71 | 1.85 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (1.65)<br>| &nbsp;&nbsp; (1.79)<br>|
| Year Ended 7/31/2024 | $13.33 | 0.14 | 2.67 | 2.81 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.55)<br>|
| Year Ended 7/31/2023 | $12.73 | 0.13 | 1.34 | 1.47 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp; (0.87)<br>|
| Year Ended 7/31/2022 | $15.78 | 0.13 | &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; (2.42)<br>| &nbsp;&nbsp; (2.58)<br>|
| Year Ended 7/31/2021 | $12.19 | 0.16 | 4.11 | 4.27 | &nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; (0.68)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | Ratios include interest on collateral expense which is less than 0.01%. |
| (d) | The benefits derived from expense reductions had an impact of less than 0.01%. |

---

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

Columbia Disciplined Core Fund \| 2026

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Financial Highlights (continued)

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $15.35 | &nbsp;&nbsp;&nbsp;&nbsp; 9.46%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.64% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $46456 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $15.65 | &nbsp;&nbsp;&nbsp;&nbsp; 12.14%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.64% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.94% | &nbsp;&nbsp;&nbsp;&nbsp; 49% | &nbsp;&nbsp;&nbsp;&nbsp; $44530 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $15.59 | &nbsp;&nbsp;&nbsp;&nbsp; 21.97%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.65% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.98% | &nbsp;&nbsp;&nbsp;&nbsp; 51% | &nbsp;&nbsp;&nbsp;&nbsp; $44815 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $13.33 | &nbsp;&nbsp;&nbsp;&nbsp; 12.74%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.66% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.08% | &nbsp;&nbsp;&nbsp;&nbsp; 50% | &nbsp;&nbsp;&nbsp;&nbsp; $49196 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.73 | &nbsp;&nbsp;&nbsp;&nbsp; (4.66%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.64% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.95% | &nbsp;&nbsp;&nbsp;&nbsp; 48% | &nbsp;&nbsp;&nbsp;&nbsp; $59290 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $15.78 | &nbsp;&nbsp;&nbsp;&nbsp; 36.41%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.64% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.20% | &nbsp;&nbsp;&nbsp;&nbsp; 69% | &nbsp;&nbsp;&nbsp;&nbsp; $71539 |

---

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

Columbia Disciplined Core Fund \| 2026

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Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Disciplined Core Fund (the Fund), a series of Columbia Funds Series Trust II (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 and Institutional 3 Class shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

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

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

**Segment reporting**

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

**Security valuation**

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

Columbia Disciplined Core Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

Futures and options on futures contracts are valued based upon the settlement price at the close of regular trading on their principal exchanges or, in the absence of a settlement price, at the mean of the latest quoted bid and ask prices.

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

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

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

**Derivative instruments**

The Fund invests in certain derivative instruments, as detailed below, in seeking to meet its investment objectives. Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more securities, currencies, commodities, indices, or other assets or instruments. Derivatives may be used to increase investment flexibility (including to maintain cash reserves while maintaining desired exposure to certain assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. The Fund may also use derivative instruments to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. Derivatives may involve various risks, including the potential inability of the counterparty to fulfill its obligations under the terms of the contract, the potential for an illiquid secondary market (making it difficult for the Fund to sell or terminate, including at favorable prices) and the potential for market movements which may expose the Fund to gains or losses in excess of the amount shown in the Statement of Assets and Liabilities. The notional exposure of a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument and/or changes in value for the instrument. The notional exposure is a hypothetical underlying quantity upon which payment obligations are computed. Notional exposures provide a gauge for how the Fund may behave given changes in the underlying rate, asset or reference instrument and individual markets. The notional amounts of derivative instruments, if applicable, are not recorded in the financial statements.

A derivative instrument may suffer a marked-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform its obligations under the contract. The Fund's risk of loss from counterparty credit risk on over-the-counter derivatives is generally expected to be limited to the aggregate unrealized gain netted against any collateral held by the Fund and the amount of any variation margin held by the counterparty, plus any replacement costs or related amounts. With

Columbia Disciplined Core Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

exchange-traded or centrally cleared derivatives, there is reduced counterparty credit risk to the Fund since the clearinghouse or central counterparty provides some protection in the case of clearing member default. The clearinghouse stands between the buyer and the seller of the contract; therefore, the primary counterparty credit risk is the risk of failure of the clearinghouse. However, credit risk still exists in exchange-traded and centrally cleared derivatives with respect to any collateral that is held in a broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients and such shortfall is remedied by the central counterparty or otherwise, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the clearing broker's customers (including the Fund) by account class, potentially resulting in losses to the Fund.

In connection with certain over-the-counter derivatives, the Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or similar agreement with its derivatives counterparties. An ISDA Master Agreement is an agreement between the Fund and a counterparty that governs over-the-counter derivatives and foreign exchange forward contracts and contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting), including the bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset or netting in bankruptcy, insolvency or other events.

Collateral (margin) requirements differ by type of derivative. Margin requirements are established by the clearinghouse or central counterparty for exchange-traded and centrally cleared derivatives. Brokers can ask for margin in excess of the minimum in certain circumstances. Collateral terms for most over-the-counter derivatives are subject to regulatory requirements to exchange variation margin with trading counterparties and may have contract specific margin terms as well. For over-the-counter derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the marked-to-market amount for each transaction under such agreement and comparing that amount to the value of any variation margin currently pledged by the Fund and/or the counterparty. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold (e.g., $250,000) before a transfer has to be made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance. The Fund may also pay interest expense on cash collateral received from the broker or receive interest income on cash collateral pledged to the broker. The Fund attempts to mitigate counterparty risk by only entering into agreements with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

Certain ISDA Master Agreements allow counterparties of over-the-counter derivatives transactions to terminate derivatives contracts prior to maturity in the event the Fund's net asset value declines by a stated percentage over a specified time period or if the Fund fails to meet certain terms of the ISDA Master Agreement, which would cause the Fund to accelerate payment of any net liability owed to the counterparty. The Fund also has termination rights if the counterparty fails to meet certain terms of the ISDA Master Agreement. In determining whether to exercise such termination rights, the Fund would consider, in addition to counterparty credit risk, whether termination would result in a net liability owed from the counterparty.

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities.

**Futures contracts**

Futures contracts are exchange-traded and represent commitments for the future purchase or sale of an asset at a specified price on a specified date. The Fund bought and sold futures contracts to manage its exposure to the securities markets or to movements in interest rates and currency values. A Fund invests in futures contracts as part of its primary investment strategy and/or to equitize its cash flows. Investments in futures contracts may increase or decrease exposure to a particular market. These instruments may be used for other purposes in future periods. Upon entering into futures

Columbia Disciplined Core Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

contracts, the Fund bears risks that it may not achieve the anticipated benefits of the futures contracts and may realize a loss. Additional risks include counterparty credit risk, the possibility of an illiquid market, and that a change in the value of the contract or option may not correlate with changes in the value of the underlying asset.

Upon entering into a futures contract, the Fund deposits cash or securities with the broker, known as a futures commission merchant (FCM), in an amount sufficient to meet the initial margin requirement. The initial margin deposit must be maintained at an established level over the life of the contract. Cash deposited as initial margin is recorded in the Statement of Assets and Liabilities as margin deposits. Securities deposited as initial margin are designated in the Portfolio of Investments. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily change in the contract value and are recorded as variation margin receivable or payable and are offset in unrealized gains or losses. The Fund generally expects to earn interest income on its margin deposits. The Fund recognizes a realized gain or loss when the contract is closed or expires. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities.

**Effects of derivative transactions in the financial statements**

The following tables are intended to provide additional information about the effect of derivatives on the financial statements of the Fund, including: the fair value of derivatives by risk category and the location of those fair values in the Statement of Assets and Liabilities; and the impact of derivative transactions over the period in the Statement of Operations, including realized and unrealized gains (losses). The derivative instrument schedules following the Portfolio of Investments present additional information regarding derivative instruments outstanding at the end of the period, if any.

The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Liability derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 175,621<br> \*<br>|

---

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

\* Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day's variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities.

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 5282843 |
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; (379585)<br>|

---

The following table is a summary of the average daily outstanding volume by derivative instrument for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 68154493 |

---

Columbia Disciplined Core Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Security transactions**

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

**Income recognition**

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

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

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

**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.

Columbia Disciplined Core Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Distributions to shareholders**

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

**Guarantees and indemnifications**

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

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.75% to 0.55% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.62% 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 Disciplined Core Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

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

---

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

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $440.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and 1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $1,056,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.

**Sales charges** 

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

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 5.75<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 213117 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 992 |

---

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

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

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

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

Columbia Disciplined Core Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.95 | &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 C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.74 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &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 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.69 | &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 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.69 |

---

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

Note 4. Federal tax information

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 3044475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2057235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (98885000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1958350000 |

---

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

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

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $1,249,357,014 and $1,498,542,165, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Columbia Disciplined Core Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

Note 8. Line of credit

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

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

Note 9. Risks and uncertainties

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

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances,

Columbia Disciplined Core Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

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

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

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 78.1% 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 Disciplined Core Fund \| 2026

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**Columbia Disciplined Core Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035imgc3a2d44b2.jpg)

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

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

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

columbiathreadneedleus.com/investor/

SAR177_07_T01_(03/26)

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![](g80035imgf27accca1.jpg)

Columbia Disciplined Growth Fund

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

January 31, 2026 (Unaudited)

---

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

---

------

**Table of Contents**

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

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_495b425c-8a4c-44c6-bdc6-5f710d31cd65_POI-CommonContent-Date-98_1) | 3 |
| [Statement of Assets and Liabilities](#xx_495b425c-8a4c-44c6-bdc6-5f710d31cd65_FS-CommonContent-Date-98_1) | 7 |
| [Statement of Operations](#xx_495b425c-8a4c-44c6-bdc6-5f710d31cd65_FS-CommonContent-Date-98_2) | 8 |
| [Statement of Changes in Net Assets](#xx_495b425c-8a4c-44c6-bdc6-5f710d31cd65_FS-CommonContent-Date-98_3) | 9 |
| [Financial Highlights](#xx_495b425c-8a4c-44c6-bdc6-5f710d31cd65_FIHI-CommonContent-Date-98_2) | 12 |
| [Notes to Financial Statements](#xx_495b425c-8a4c-44c6-bdc6-5f710d31cd65_NTF-CommonContent-Date-98_1) | 14 |

---

Columbia Disciplined Growth Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 98.7%** | **Common Stocks 98.7%** | **Common Stocks 98.7%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 13.4%** | **Communication Services 13.4%** | **Communication Services 13.4%** |
| **Entertainment 0.3%** | **Entertainment 0.3%** | **Entertainment 0.3%** |
| Netflix, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12352 | &nbsp;&nbsp; 1031269 |
| **Interactive Media & Services 12.9%** | **Interactive Media & Services 12.9%** | **Interactive Media & Services 12.9%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp; 66187 | &nbsp;&nbsp; 22371206 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 23311 | &nbsp;&nbsp; 16702332 |
| Pinterest, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 20341 | &nbsp;&nbsp; 450146 |
| Total |  | &nbsp;&nbsp; 39523684 |
| **Media 0.2%** | **Media 0.2%** | **Media 0.2%** |
| DoubleVerify Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 41549 | &nbsp;&nbsp; 449560 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **41004513** |
| **Consumer Discretionary 12.9%** | **Consumer Discretionary 12.9%** | **Consumer Discretionary 12.9%** |
| **Automobiles 3.0%** | **Automobiles 3.0%** | **Automobiles 3.0%** |
| Tesla, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 21600 | &nbsp;&nbsp; 9296856 |
| **Broadline Retail 3.9%** | **Broadline Retail 3.9%** | **Broadline Retail 3.9%** |
| Amazon.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 49624 | &nbsp;&nbsp; 11875023 |
| **Hotels, Restaurants & Leisure 3.2%** | **Hotels, Restaurants & Leisure 3.2%** | **Hotels, Restaurants & Leisure 3.2%** |
| Booking Holdings, Inc. | &nbsp;&nbsp; 1269 | &nbsp;&nbsp; 6347335 |
| Expedia Group, Inc. | &nbsp;&nbsp; 10835 | &nbsp;&nbsp; 2869541 |
| Travel + Leisure Co. | &nbsp;&nbsp; 7479 | &nbsp;&nbsp; 520090 |
| Total |  | &nbsp;&nbsp; 9736966 |
| **Specialty Retail 0.6%** | **Specialty Retail 0.6%** | **Specialty Retail 0.6%** |
| Wayfair, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 17386 | &nbsp;&nbsp; 1799277 |
| **Textiles, Apparel & Luxury Goods 2.2%** | **Textiles, Apparel & Luxury Goods 2.2%** | **Textiles, Apparel & Luxury Goods 2.2%** |
| Ralph Lauren Corp. | &nbsp;&nbsp; 13789 | &nbsp;&nbsp; 4873171 |
| Tapestry, Inc. | &nbsp;&nbsp; 14662 | &nbsp;&nbsp; 1860754 |
| Total |  | &nbsp;&nbsp; 6733925 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **39442047** |
| **Consumer Staples 2.1%** | **Consumer Staples 2.1%** | **Consumer Staples 2.1%** |
| **Beverages 1.8%** | **Beverages 1.8%** | **Beverages 1.8%** |
| Boston Beer Co., Inc. (The), Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 10490 | &nbsp;&nbsp; 2240874 |
| Monster Beverage Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 38706 | &nbsp;&nbsp; 3125896 |
| Total |  | &nbsp;&nbsp; 5366770 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Staples Distribution & Retail 0.3%** | **Consumer Staples Distribution & Retail 0.3%** | **Consumer Staples Distribution & Retail 0.3%** |
| Sprouts Farmers Market, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 13656 | &nbsp;&nbsp; 968347 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **6335117** |
| **Energy 0.6%** | **Energy 0.6%** | **Energy 0.6%** |
| **Oil, Gas & Consumable Fuels 0.6%** | **Oil, Gas & Consumable Fuels 0.6%** | **Oil, Gas & Consumable Fuels 0.6%** |
| HF Sinclair Corp. | &nbsp;&nbsp; 34895 | &nbsp;&nbsp; 1814191 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **1814191** |
| **Financials 6.1%** | **Financials 6.1%** | **Financials 6.1%** |
| **Banks 1.5%** | **Banks 1.5%** | **Banks 1.5%** |
| Popular, Inc. | &nbsp;&nbsp; 34634 | &nbsp;&nbsp; 4624678 |
| **Capital Markets 2.6%** | **Capital Markets 2.6%** | **Capital Markets 2.6%** |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp; 9575 | &nbsp;&nbsp; 1148234 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 47426 | &nbsp;&nbsp; 4928510 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 572 | &nbsp;&nbsp; 535055 |
| Moody's Corp. | &nbsp;&nbsp; 2375 | &nbsp;&nbsp; 1224455 |
| Total |  | &nbsp;&nbsp; 7836254 |
| **Financial Services 1.5%** | **Financial Services 1.5%** | **Financial Services 1.5%** |
| MasterCard, Inc., Class A | &nbsp;&nbsp; 1551 | &nbsp;&nbsp; 835663 |
| Visa, Inc., Class A | &nbsp;&nbsp; 11764 | &nbsp;&nbsp; 3786008 |
| Total |  | &nbsp;&nbsp; 4621671 |
| **Insurance 0.5%** | **Insurance 0.5%** | **Insurance 0.5%** |
| Allstate Corp. (The) | &nbsp;&nbsp; 6294 | &nbsp;&nbsp; 1252443 |
| Progressive Corp. (The) | &nbsp;&nbsp; 2118 | &nbsp;&nbsp; 440544 |
| Total |  | &nbsp;&nbsp; 1692987 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **18775590** |
| **Health Care 7.8%** | **Health Care 7.8%** | **Health Care 7.8%** |
| **Biotechnology 2.8%** | **Biotechnology 2.8%** | **Biotechnology 2.8%** |
| AbbVie, Inc. | &nbsp;&nbsp; 17497 | &nbsp;&nbsp; 3902006 |
| Amgen, Inc. | &nbsp;&nbsp; 3522 | &nbsp;&nbsp; 1204101 |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 4297 | &nbsp;&nbsp; 242952 |
| Insmed, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3742 | &nbsp;&nbsp; 587008 |
| Natera, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1544 | &nbsp;&nbsp; 356880 |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3070 | &nbsp;&nbsp; 417704 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp; 394 | &nbsp;&nbsp; 292131 |

---

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

Columbia Disciplined Growth Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Summit Therapeutics, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 5853 | &nbsp;&nbsp; 84752 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3190 | &nbsp;&nbsp; 1498981 |
| Total |  | &nbsp;&nbsp; 8586515 |
| **Health Care Providers & Services 0.3%** | **Health Care Providers & Services 0.3%** | **Health Care Providers & Services 0.3%** |
| Cardinal Health, Inc. | &nbsp;&nbsp; 3314 | &nbsp;&nbsp; 712112 |
| **Life Sciences Tools & Services 1.2%** | **Life Sciences Tools & Services 1.2%** | **Life Sciences Tools & Services 1.2%** |
| Medpace Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 6401 | &nbsp;&nbsp; 3728455 |
| **Pharmaceuticals 3.5%** | **Pharmaceuticals 3.5%** | **Pharmaceuticals 3.5%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 108653 | &nbsp;&nbsp; 5981348 |
| Eli Lilly & Co. | &nbsp;&nbsp; 4598 | &nbsp;&nbsp; 4768816 |
| Total |  | &nbsp;&nbsp; 10750164 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **23777246** |
| **Industrials 6.4%** | **Industrials 6.4%** | **Industrials 6.4%** |
| **Construction & Engineering 2.0%** | **Construction & Engineering 2.0%** | **Construction & Engineering 2.0%** |
| EMCOR Group, Inc. | &nbsp;&nbsp; 8478 | &nbsp;&nbsp; 6110349 |
| **Electrical Equipment 1.7%** | **Electrical Equipment 1.7%** | **Electrical Equipment 1.7%** |
| Rockwell Automation, Inc. | &nbsp;&nbsp; 12229 | &nbsp;&nbsp; 5156358 |
| **Ground Transportation 0.9%** | **Ground Transportation 0.9%** | **Ground Transportation 0.9%** |
| Lyft, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 156092 | &nbsp;&nbsp; 2633272 |
| **Machinery 0.4%** | **Machinery 0.4%** | **Machinery 0.4%** |
| Allison Transmission Holdings, Inc. | &nbsp;&nbsp; 1883 | &nbsp;&nbsp; 204682 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp; 3567 | &nbsp;&nbsp; 931915 |
| Total |  | &nbsp;&nbsp; 1136597 |
| **Professional Services 1.4%** | **Professional Services 1.4%** | **Professional Services 1.4%** |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp; 22646 | &nbsp;&nbsp; 4463753 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **19500329** |
| **Information Technology 48.2%** | **Information Technology 48.2%** | **Information Technology 48.2%** |
| **Communications Equipment 2.1%** | **Communications Equipment 2.1%** | **Communications Equipment 2.1%** |
| Arista Networks, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 45320 | &nbsp;&nbsp; 6423657 |
| **Semiconductors & Semiconductor Equipment 20.2%** | **Semiconductors & Semiconductor Equipment 20.2%** | **Semiconductors & Semiconductor Equipment 20.2%** |
| Advanced Micro Devices, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 19198 | &nbsp;&nbsp; 4544743 |
| Broadcom, Inc. | &nbsp;&nbsp; 42094 | &nbsp;&nbsp; 13945742 |
| Lam Research Corp. | &nbsp;&nbsp; 29284 | &nbsp;&nbsp; 6836643 |
| NVIDIA Corp. | &nbsp;&nbsp; 165123 | &nbsp;&nbsp; 31559959 |
| QUALCOMM, Inc. | &nbsp;&nbsp; 31882 | &nbsp;&nbsp; 4832992 |
| Total |  | &nbsp;&nbsp; 61720079 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Software 16.9%** | **Software 16.9%** | **Software 16.9%** |
| Adobe, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 19278 | &nbsp;&nbsp; 5653273 |
| AppLovin Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 2208 | &nbsp;&nbsp; 1044627 |
| Autodesk, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 18171 | &nbsp;&nbsp; 4594901 |
| Dropbox, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 148810 | &nbsp;&nbsp; 3791679 |
| Microsoft Corp. | &nbsp;&nbsp; 54791 | &nbsp;&nbsp; 23576019 |
| Nutanix, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 66499 | &nbsp;&nbsp; 2615406 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 38870 | &nbsp;&nbsp; 5697953 |
| Salesforce, Inc. | &nbsp;&nbsp; 22173 | &nbsp;&nbsp; 4707106 |
| Total |  | &nbsp;&nbsp; 51680964 |
| **Technology Hardware, Storage & Peripherals 9.0%** | **Technology Hardware, Storage & Peripherals 9.0%** | **Technology Hardware, Storage & Peripherals 9.0%** |
| Apple, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 105515 | &nbsp;&nbsp; 27379032 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **147203732** |
| **Materials 0.8%** | **Materials 0.8%** | **Materials 0.8%** |
| **Metals & Mining 0.8%** | **Metals & Mining 0.8%** | **Metals & Mining 0.8%** |
| Anglogold Ashanti PLC | &nbsp;&nbsp; 26416 | &nbsp;&nbsp; 2453254 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **2453254** |
| **Real Estate 0.2%** | **Real Estate 0.2%** | **Real Estate 0.2%** |
| **Specialized REITs 0.2%** | **Specialized REITs 0.2%** | **Specialized REITs 0.2%** |
| American Tower Corp. | &nbsp;&nbsp; 2937 | &nbsp;&nbsp; 526545 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **526545** |
| **Utilities 0.2%** | **Utilities 0.2%** | **Utilities 0.2%** |
| **Electric Utilities 0.2%** | **Electric Utilities 0.2%** | **Electric Utilities 0.2%** |
| NRG Energy, Inc. | &nbsp;&nbsp; 3551 | &nbsp;&nbsp; 541989 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **541989** |
| Total Common Stocks <br>(Cost $138,793,760) | Total Common Stocks <br>(Cost $138,793,760) | &nbsp;&nbsp; **301374553** |
| **Money Market Funds 1.3%** | **Money Market Funds 1.3%** | **Money Market Funds 1.3%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 4168618 | &nbsp;&nbsp; 4167367 |
| Total Money Market Funds <br>(Cost $4,167,175) | Total Money Market Funds <br>(Cost $4,167,175) | &nbsp;&nbsp; **4167367** |
| **Total Investments in Securities** <br>**(Cost: $142,960,935)** | **Total Investments in Securities** <br>**(Cost: $142,960,935)** | &nbsp;&nbsp; **305541920** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(124422)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **305417498** |

---

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

Columbia Disciplined Growth Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

At January 31, 2026, securities and/or cash totaling $597,842 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>|
| S&P 500 Index E-mini | 13 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4527738 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5049)<br>|

---

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) This security or a portion of this security has been pledged as collateral in connection with investments sold short and/or derivative contracts.

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended January 31, 2026 are as follows:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% |
|  | 3939460 | &nbsp;&nbsp; 13884882 | &nbsp;&nbsp; (13657139)<br>| &nbsp;&nbsp; 164 | &nbsp;&nbsp; 4167367 | &nbsp;&nbsp; 649 | &nbsp;&nbsp; 62658 | &nbsp;&nbsp; 4168618 |

---

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

Columbia Disciplined Growth Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 41004513 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 41004513 |
| Consumer Discretionary | 39442047 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39442047 |
| Consumer Staples | 6335117 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6335117 |
| Energy | 1814191 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1814191 |
| Financials | 18775590 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18775590 |
| Health Care | 23777246 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23777246 |
| Industrials | 19500329 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19500329 |
| Information Technology | 147203732 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 147203732 |
| Materials | 2453254 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2453254 |
| Real Estate | 526545 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 526545 |
| Utilities | 541989 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 541989 |
| Total Common Stocks | 301374553 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 301374553 |
| Money Market Funds | 4167367 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4167367 |
| Total Investments in Securities | 305541920 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 305541920 |
| **Investments in Derivatives** |  |  |  |  |
| Liability |  |  |  |  |
| Futures Contracts | (5049)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5049)<br>|
| Total | 305536871 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 305536871 |

---

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

Derivative instruments are valued at unrealized appreciation (depreciation).

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

Columbia Disciplined Growth Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $138,793,760) | $301374553 |
| Affiliated issuers (cost $4,167,175) | 4167367 |
| Receivable for: |  |
| Capital shares sold | 159430 |
| Dividends | 119946 |
| Variation margin for futures contracts | 559 |
| Expense reimbursement due from Investment Manager | 588 |
| Prepaid expenses | 2890 |
| Total assets | 305825333 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 188025 |
| Variation margin for futures contracts | 18900 |
| Management services fees | 6344 |
| Distribution and/or service fees | 1552 |
| Transfer agent fees | 18782 |
| Compensation of chief compliance officer | 25 |
| Compensation of board members | 698 |
| Other expenses | 38043 |
| Deferred compensation of board members | 135466 |
| Total liabilities | 407835 |
| **Net assets applicable to outstanding capital stock** | **$305417498** |
| **Represented by** |  |
| Paid in capital | 137502409 |
| Total distributable earnings (loss) | 167915089 |
| **Total - representing net assets applicable to outstanding capital stock** | **$305417498** |
| **Class A** |  |
| Net assets | $187557189 |
| Shares outstanding | 16104397 |
| Net asset value per share | $11.65 |
| Maximum sales charge  | 5.75% |
| Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $12.36 |
| **Class C** |  |
| Net assets | $9141521 |
| Shares outstanding | 939410 |
| Net asset value per share | $9.73 |
| **Institutional Class** |  |
| Net assets | $66338237 |
| Shares outstanding | 5486980 |
| Net asset value per share | $12.09 |
| **Institutional 3 Class** |  |
| Net assets | $42380551 |
| Shares outstanding | 3421124 |
| Net asset value per share | $12.39 |

---

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

Columbia Disciplined Growth Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $1094854 |
| Dividends — affiliated issuers | 62658 |
| Foreign taxes withheld | (7007)<br>|
| Total income | 1150505 |
| Expenses: |  |
| Management services fees | 1162435 |
| Distribution and/or service fees |  |
| Class A | 238639 |
| Class C | 47704 |
| Transfer agent fees |  |
| Class A | 67845 |
| Class C | 3392 |
| Institutional Class | 23791 |
| Institutional 3 Class | 832 |
| Custodian fees | 3274 |
| Printing and postage fees | 11990 |
| Registration fees | 38275 |
| Accounting services fees | 16256 |
| Legal fees | 10615 |
| Interest on collateral | 110 |
| Compensation of chief compliance officer | 25 |
| Compensation of board members | 7195 |
| Deferred compensation of board members | 16876 |
| Other | 6133 |
| Total expenses | 1655387 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (128379)<br>|
| Expense reduction | (20)<br>|
| Total net expenses | 1526988 |
| **Net investment loss** | (376483)<br>|
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 13763108 |
| Investments — affiliated issuers | 649 |
| Futures contracts | 240586 |
| Net realized gain | 14004343 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 10533088 |
| Investments — affiliated issuers | 164 |
| Futures contracts | (38476)<br>|
| Net change in unrealized appreciation (depreciation) | 10494776 |
| Net realized and unrealized gain | 24499119 |
| **Net increase in net assets resulting from operations** | **$24122636** |

---

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

Columbia Disciplined Growth Fund \| 2026

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Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment loss | $(376483)<br>| &nbsp;&nbsp; $(145956)<br>|
| Net realized gain | 14004343 | &nbsp;&nbsp; 19501112 |
| Net change in unrealized appreciation (depreciation) | 10494776 | &nbsp;&nbsp; 25897026 |
| Net increase in net assets resulting from operations | 24122636 | &nbsp;&nbsp; 45252182 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (14628205)<br>| &nbsp;&nbsp; (16539891)<br>|
| Class C | (855262)<br>| &nbsp;&nbsp; (913007)<br>|
| Institutional Class | (5076946)<br>| &nbsp;&nbsp; (7955520)<br>|
| Institutional 3 Class | (3132226)<br>| &nbsp;&nbsp; (3484426)<br>|
| Total distributions to shareholders | (23692639)<br>| &nbsp;&nbsp; (28892844)<br>|
| Increase (decrease) in net assets from capital stock activity | 9935441 | &nbsp;&nbsp; (11149595)<br>|
| Total increase in net assets | 10365438 | &nbsp;&nbsp; 5209743 |
| Net assets at beginning of period | 295052060 | &nbsp;&nbsp; 289842317 |
| **Net assets at end of period** | **$305417498** | &nbsp;&nbsp; **$295052060** |

---

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

Columbia Disciplined Growth Fund \| 2026

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Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 462947 | &nbsp;&nbsp;&nbsp;&nbsp; 5631584 | &nbsp;&nbsp;&nbsp;&nbsp; 1308899 | &nbsp;&nbsp;&nbsp;&nbsp; 14205871 |
| Distributions reinvested | 1213065 | &nbsp;&nbsp;&nbsp;&nbsp; 14423346 | &nbsp;&nbsp;&nbsp;&nbsp; 1481268 | &nbsp;&nbsp;&nbsp;&nbsp; 16308756 |
| Shares redeemed | (1184696)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14317187)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2419088)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25825138)<br>|
| Net increase | 491316 | &nbsp;&nbsp;&nbsp;&nbsp; 5737743 | &nbsp;&nbsp;&nbsp;&nbsp; 371079 | &nbsp;&nbsp;&nbsp;&nbsp; 4689489 |
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4959 | &nbsp;&nbsp;&nbsp;&nbsp; 55087 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (509368)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6153229)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (504409)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6098142)<br>|
| Class C |  |  |  |  |
| Shares sold | 56877 | &nbsp;&nbsp;&nbsp;&nbsp; 585533 | &nbsp;&nbsp;&nbsp;&nbsp; 196202 | &nbsp;&nbsp;&nbsp;&nbsp; 1825517 |
| Distributions reinvested | 86043 | &nbsp;&nbsp;&nbsp;&nbsp; 855262 | &nbsp;&nbsp;&nbsp;&nbsp; 97025 | &nbsp;&nbsp;&nbsp;&nbsp; 913007 |
| Shares redeemed | (129502)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1314195)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (312422)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2899656)<br>|
| Net increase (decrease) | 13418 | &nbsp;&nbsp;&nbsp;&nbsp; 126600 | &nbsp;&nbsp;&nbsp;&nbsp; (19195)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (161132)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 662960 | &nbsp;&nbsp;&nbsp;&nbsp; 8421222 | &nbsp;&nbsp;&nbsp;&nbsp; 2296040 | &nbsp;&nbsp;&nbsp;&nbsp; 26337398 |
| Distributions reinvested | 407607 | &nbsp;&nbsp;&nbsp;&nbsp; 5029862 | &nbsp;&nbsp;&nbsp;&nbsp; 696856 | &nbsp;&nbsp;&nbsp;&nbsp; 7930223 |
| Shares redeemed | (833088)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10492980)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4397427)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (46814051)<br>|
| Net increase (decrease) | 237479 | &nbsp;&nbsp;&nbsp;&nbsp; 2958104 | &nbsp;&nbsp;&nbsp;&nbsp; (1404531)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12546430)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 221724 | &nbsp;&nbsp;&nbsp;&nbsp; 2847059 | &nbsp;&nbsp;&nbsp;&nbsp; 734708 | &nbsp;&nbsp;&nbsp;&nbsp; 8214125 |
| Distributions reinvested | 247218 | &nbsp;&nbsp;&nbsp;&nbsp; 3124838 | &nbsp;&nbsp;&nbsp;&nbsp; 298880 | &nbsp;&nbsp;&nbsp;&nbsp; 3475975 |
| Shares redeemed | (376858)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4858903)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (773551)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8723480)<br>|
| Net increase | 92084 | &nbsp;&nbsp;&nbsp;&nbsp; 1112994 | &nbsp;&nbsp;&nbsp;&nbsp; 260037 | &nbsp;&nbsp;&nbsp;&nbsp; 2966620 |
| **Total net increase (decrease)** | **834297** | &nbsp;&nbsp;&nbsp;&nbsp; **9935441** | &nbsp;&nbsp;&nbsp;&nbsp; **(1297019)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(11149595)**<br>|

---

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

Columbia Disciplined Growth Fund \| 2026

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Columbia Disciplined Growth Fund \| 2026

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Financial Highlights

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $11.64 | &nbsp;&nbsp; (0.02)<br>| 0.99 | 0.97 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.96)<br>| &nbsp;&nbsp; (0.96)<br>|
| Year Ended 7/31/2025 | $10.87 | &nbsp;&nbsp; (0.01)<br>| 1.87 | 1.86 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.09)<br>| &nbsp;&nbsp; (1.09)<br>|
| Year Ended 7/31/2024 | $9.34 | &nbsp;&nbsp; (0.03)<br>| 2.09 | 2.06 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp; (0.53)<br>|
| Year Ended 7/31/2023 | $8.93 | &nbsp;&nbsp; (0.01)<br>| 1.29 | 1.28 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp; (0.87)<br>|
| Year Ended 7/31/2022 | $12.30 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2.74)<br>| &nbsp;&nbsp; (2.74)<br>|
| Year Ended 7/31/2021 | $10.34 | &nbsp;&nbsp; (0.01)<br>| 3.29 | 3.28 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp; (1.32)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.89 | &nbsp;&nbsp; (0.05)<br>| 0.84 | 0.79 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.95)<br>|
| Year Ended 7/31/2025 | $9.41 | &nbsp;&nbsp; (0.08)<br>| 1.61 | 1.53 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp; (1.05)<br>|
| Year Ended 7/31/2024 | $8.18 | &nbsp;&nbsp; (0.08)<br>| 1.81 | 1.73 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; (0.50)<br>|
| Year Ended 7/31/2023 | $8.01 | &nbsp;&nbsp; (0.06)<br>| 1.10 | 1.04 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp; (0.87)<br>|
| Year Ended 7/31/2022 | $11.32 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp; (2.70)<br>|
| Year Ended 7/31/2021 | $9.67 | &nbsp;&nbsp; (0.09)<br>| 3.06 | 2.97 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp; (1.32)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $12.04 | &nbsp;&nbsp; (0.00)<br>| 1.02 | 1.02 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (0.97)<br>|
| Year Ended 7/31/2025 | $11.20 | 0.01 | 1.94 | 1.95 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.11)<br>|
| Year Ended 7/31/2024 | $9.59 | 0.00 | 2.15 | 2.15 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.54)<br>|
| Year Ended 7/31/2023 | $9.13 | 0.01 | 1.32 | 1.33 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp; (0.87)<br>|
| Year Ended 7/31/2022 | $12.50 | 0.01 | &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2.75)<br>| &nbsp;&nbsp; (2.75)<br>|
| Year Ended 7/31/2021 | $10.48 | 0.02 | 3.34 | 3.36 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp; (1.34)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $12.32 | 0.00 | 1.05 | 1.05 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp; (0.98)<br>|
| Year Ended 7/31/2025 | $11.43 | 0.02 | 1.98 | 2.00 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.11)<br>|
| Year Ended 7/31/2024 | $9.77 | 0.01 | 2.19 | 2.20 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.54)<br>|
| Year Ended 7/31/2023 | $9.28 | 0.02 | 1.34 | 1.36 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp; (0.87)<br>|
| Year Ended 7/31/2022 | $12.66 | 0.02 | &nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2.75)<br>| &nbsp;&nbsp; (2.75)<br>|
| Year Ended 7/31/2021 | $10.60 | 0.02 | 3.39 | 3.41 | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (1.32)<br>| &nbsp;&nbsp; (1.35)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | Ratios include interest on collateral expense which is less than 0.01%. |
| (d) | The benefits derived from expense reductions had an impact of less than 0.01%. |

---

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

Columbia Disciplined Growth Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $11.65 | &nbsp;&nbsp;&nbsp;&nbsp; 8.17%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.14% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.06% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.32%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $187557 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $11.64 | &nbsp;&nbsp;&nbsp;&nbsp; 17.73%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.15% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.06% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.13%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $181668 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $10.87 | &nbsp;&nbsp;&nbsp;&nbsp; 23.28%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.18% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.06% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.27%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 68% | &nbsp;&nbsp;&nbsp;&nbsp; $165692 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.34 | &nbsp;&nbsp;&nbsp;&nbsp; 17.08%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.21% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.07% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $138894 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.93 | &nbsp;&nbsp;&nbsp;&nbsp; (8.64%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.17% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.07% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.16%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $129906 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $12.30 | &nbsp;&nbsp;&nbsp;&nbsp; 34.51%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.17% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.10% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 87% | &nbsp;&nbsp;&nbsp;&nbsp; $168331 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $9.73 | &nbsp;&nbsp;&nbsp;&nbsp; 7.80%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.89% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.81% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.07%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $9142 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.89 | &nbsp;&nbsp;&nbsp;&nbsp; 16.82%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.90% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.88%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $9161 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.41 | &nbsp;&nbsp;&nbsp;&nbsp; 22.47%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.93% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.81% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.99%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 68% | &nbsp;&nbsp;&nbsp;&nbsp; $8895 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.18 | &nbsp;&nbsp;&nbsp;&nbsp; 15.98%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.96% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.82% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.84%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $8089 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.01 | &nbsp;&nbsp;&nbsp;&nbsp; (9.25%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.92% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.82% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.91%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $10877 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $11.32 | &nbsp;&nbsp;&nbsp;&nbsp; 33.62%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.92% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.85% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.84%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 87% | &nbsp;&nbsp;&nbsp;&nbsp; $16557 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $12.09 | &nbsp;&nbsp;&nbsp;&nbsp; 8.33%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.89% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.07%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $66338 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $12.04 | &nbsp;&nbsp;&nbsp;&nbsp; 17.98%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.13% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $63219 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.20 | &nbsp;&nbsp;&nbsp;&nbsp; 23.64%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.93% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp; 68% | &nbsp;&nbsp;&nbsp;&nbsp; $74553 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.59 | &nbsp;&nbsp;&nbsp;&nbsp; 17.26%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $41402 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.13 | &nbsp;&nbsp;&nbsp;&nbsp; (8.38%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.92% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $45968 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $12.50 | &nbsp;&nbsp;&nbsp;&nbsp; 34.93%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.92% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.85% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16% | &nbsp;&nbsp;&nbsp;&nbsp; 87% | &nbsp;&nbsp;&nbsp;&nbsp; $59164 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $12.39 | &nbsp;&nbsp;&nbsp;&nbsp; 8.34%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.00% | &nbsp;&nbsp;&nbsp;&nbsp; 23% | &nbsp;&nbsp;&nbsp;&nbsp; $42381 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $12.32 | &nbsp;&nbsp;&nbsp;&nbsp; 18.12%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.18% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $41004 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $11.43 | &nbsp;&nbsp;&nbsp;&nbsp; 23.76%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.85% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.73% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09% | &nbsp;&nbsp;&nbsp;&nbsp; 68% | &nbsp;&nbsp;&nbsp;&nbsp; $35088 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.77 | &nbsp;&nbsp;&nbsp;&nbsp; 17.32%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.88% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $25372 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.28 | &nbsp;&nbsp;&nbsp;&nbsp; (8.32%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.83% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.13% | &nbsp;&nbsp;&nbsp;&nbsp; 71% | &nbsp;&nbsp;&nbsp;&nbsp; $20361 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $12.66 | &nbsp;&nbsp;&nbsp;&nbsp; 35.05%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20% | &nbsp;&nbsp;&nbsp;&nbsp; 87% | &nbsp;&nbsp;&nbsp;&nbsp; $52816 |

---

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

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Disciplined Growth Fund (the Fund), a series of Columbia Funds Series Trust II (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 and Institutional 3 Class shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

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

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

**Segment reporting**

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

**Security valuation**

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

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

Futures and options on futures contracts are valued based upon the settlement price at the close of regular trading on their principal exchanges or, in the absence of a settlement price, at the mean of the latest quoted bid and ask prices.

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

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

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

**Derivative instruments**

The Fund invests in certain derivative instruments, as detailed below, in seeking to meet its investment objectives. Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more securities, currencies, commodities, indices, or other assets or instruments. Derivatives may be used to increase investment flexibility (including to maintain cash reserves while maintaining desired exposure to certain assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. The Fund may also use derivative instruments to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. Derivatives may involve various risks, including the potential inability of the counterparty to fulfill its obligations under the terms of the contract, the potential for an illiquid secondary market (making it difficult for the Fund to sell or terminate, including at favorable prices) and the potential for market movements which may expose the Fund to gains or losses in excess of the amount shown in the Statement of Assets and Liabilities. The notional exposure of a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument and/or changes in value for the instrument. The notional exposure is a hypothetical underlying quantity upon which payment obligations are computed. Notional exposures provide a gauge for how the Fund may behave given changes in the underlying rate, asset or reference instrument and individual markets. The notional amounts of derivative instruments, if applicable, are not recorded in the financial statements.

A derivative instrument may suffer a marked-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform its obligations under the contract. The Fund's risk of loss from counterparty credit risk on over-the-counter derivatives is generally expected to be limited to the aggregate unrealized gain netted against any collateral held by the Fund and the amount of any variation margin held by the counterparty, plus any replacement costs or related amounts. With

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

exchange-traded or centrally cleared derivatives, there is reduced counterparty credit risk to the Fund since the clearinghouse or central counterparty provides some protection in the case of clearing member default. The clearinghouse stands between the buyer and the seller of the contract; therefore, the primary counterparty credit risk is the risk of failure of the clearinghouse. However, credit risk still exists in exchange-traded and centrally cleared derivatives with respect to any collateral that is held in a broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients and such shortfall is remedied by the central counterparty or otherwise, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the clearing broker's customers (including the Fund) by account class, potentially resulting in losses to the Fund.

In connection with certain over-the-counter derivatives, the Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or similar agreement with its derivatives counterparties. An ISDA Master Agreement is an agreement between the Fund and a counterparty that governs over-the-counter derivatives and foreign exchange forward contracts and contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting), including the bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset or netting in bankruptcy, insolvency or other events.

Collateral (margin) requirements differ by type of derivative. Margin requirements are established by the clearinghouse or central counterparty for exchange-traded and centrally cleared derivatives. Brokers can ask for margin in excess of the minimum in certain circumstances. Collateral terms for most over-the-counter derivatives are subject to regulatory requirements to exchange variation margin with trading counterparties and may have contract specific margin terms as well. For over-the-counter derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the marked-to-market amount for each transaction under such agreement and comparing that amount to the value of any variation margin currently pledged by the Fund and/or the counterparty. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold (e.g., $250,000) before a transfer has to be made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance. The Fund may also pay interest expense on cash collateral received from the broker or receive interest income on cash collateral pledged to the broker. The Fund attempts to mitigate counterparty risk by only entering into agreements with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

Certain ISDA Master Agreements allow counterparties of over-the-counter derivatives transactions to terminate derivatives contracts prior to maturity in the event the Fund's net asset value declines by a stated percentage over a specified time period or if the Fund fails to meet certain terms of the ISDA Master Agreement, which would cause the Fund to accelerate payment of any net liability owed to the counterparty. The Fund also has termination rights if the counterparty fails to meet certain terms of the ISDA Master Agreement. In determining whether to exercise such termination rights, the Fund would consider, in addition to counterparty credit risk, whether termination would result in a net liability owed from the counterparty.

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities.

**Futures contracts**

Futures contracts are exchange-traded and represent commitments for the future purchase or sale of an asset at a specified price on a specified date. The Fund bought and sold futures contracts to manage its exposure to the securities markets or to movements in interest rates and currency values. A Fund invests in futures contracts as part of its primary investment strategy and/or to equitize its cash flows. Investments in futures contracts may increase or decrease exposure to a particular market. These instruments may be used for other purposes in future periods. Upon entering into futures

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

contracts, the Fund bears risks that it may not achieve the anticipated benefits of the futures contracts and may realize a loss. Additional risks include counterparty credit risk, the possibility of an illiquid market, and that a change in the value of the contract or option may not correlate with changes in the value of the underlying asset.

Upon entering into a futures contract, the Fund deposits cash or securities with the broker, known as a futures commission merchant (FCM), in an amount sufficient to meet the initial margin requirement. The initial margin deposit must be maintained at an established level over the life of the contract. Cash deposited as initial margin is recorded in the Statement of Assets and Liabilities as margin deposits. Securities deposited as initial margin are designated in the Portfolio of Investments. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily change in the contract value and are recorded as variation margin receivable or payable and are offset in unrealized gains or losses. The Fund generally expects to earn interest income on its margin deposits. The Fund recognizes a realized gain or loss when the contract is closed or expires. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities.

**Effects of derivative transactions in the financial statements**

The following tables are intended to provide additional information about the effect of derivatives on the financial statements of the Fund, including: the fair value of derivatives by risk category and the location of those fair values in the Statement of Assets and Liabilities; and the impact of derivative transactions over the period in the Statement of Operations, including realized and unrealized gains (losses). The derivative instrument schedules following the Portfolio of Investments present additional information regarding derivative instruments outstanding at the end of the period, if any.

The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Liability derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 5,049<br> \*<br>|

---

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

\* Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day's variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities.

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 240586 |
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; (38476)<br>|

---

The following table is a summary of the average daily outstanding volume by derivative instrument for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 3422937 |

---

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Security transactions**

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

**Income recognition**

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

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

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

**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.

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Distributions to shareholders**

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

**Guarantees and indemnifications**

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

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.75% to 0.55% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.75% 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 Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

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

---

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

---

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

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and 1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $42,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.

**Sales charges** 

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

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 5.75<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 111500 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 35 |

---

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

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

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

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

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee rate(s) contractual** <br>**through** <br>**November 30, 2026 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.81 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.81 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.74 |

---

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

Note 4. Federal tax information

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 142961000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6279000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162576000 |

---

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

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

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $71,673,552 and $86,012,827, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

Note 8. Line of credit

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

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

Note 9. Risks and uncertainties

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

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances,

Columbia Disciplined Growth Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

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

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

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 53.6% 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 Disciplined Growth Fund \| 2026

------

**Columbia Disciplined Growth Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img332cf6922.jpg)

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

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

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

columbiathreadneedleus.com/investor/

SAR178_07_T01_(03/26)

------

![](g80035img31a3bfb81.jpg)

Columbia Disciplined Value Fund

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

January 31, 2026 (Unaudited)

---

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

---

------

**Table of Contents**

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

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_f2443681-6b7a-42a7-b0cb-32344280ba41_POI-CommonContent-Date-99_1) | 3 |
| [Statement of Assets and Liabilities](#xx_f2443681-6b7a-42a7-b0cb-32344280ba41_FS-CommonContent-Date-99_1) | 8 |
| [Statement of Operations](#xx_f2443681-6b7a-42a7-b0cb-32344280ba41_FS-CommonContent-Date-99_2) | 9 |
| [Statement of Changes in Net Assets](#xx_f2443681-6b7a-42a7-b0cb-32344280ba41_FS-CommonContent-Date-99_3) | 10 |
| [Financial Highlights](#xx_f2443681-6b7a-42a7-b0cb-32344280ba41_FIHI-CommonContent-Date-99_1) | 12 |
| [Notes to Financial Statements](#xx_f2443681-6b7a-42a7-b0cb-32344280ba41_NTF-CommonContent-Date-99_1) | 14 |

---

Columbia Disciplined Value Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 98.8%** | **Common Stocks 98.8%** | **Common Stocks 98.8%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 8.8%** | **Communication Services 8.8%** | **Communication Services 8.8%** |
| **Diversified Telecommunication Services 0.2%** | **Diversified Telecommunication Services 0.2%** | **Diversified Telecommunication Services 0.2%** |
| Verizon Communications, Inc. | &nbsp;&nbsp; 7561 | &nbsp;&nbsp; 336616 |
| **Entertainment 0.3%** | **Entertainment 0.3%** | **Entertainment 0.3%** |
| Electronic Arts, Inc. | &nbsp;&nbsp; 2461 | &nbsp;&nbsp; 501847 |
| **Interactive Media & Services 6.5%** | **Interactive Media & Services 6.5%** | **Interactive Media & Services 6.5%** |
| Alphabet, Inc., Class A | &nbsp;&nbsp; 21009 | &nbsp;&nbsp; 7101042 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 6646 | &nbsp;&nbsp; 4761859 |
| Total |  | &nbsp;&nbsp; 11862901 |
| **Media 1.8%** | **Media 1.8%** | **Media 1.8%** |
| Fox Corp., Class A | &nbsp;&nbsp; 45127 | &nbsp;&nbsp; 3284343 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **15985707** |
| **Consumer Discretionary 7.3%** | **Consumer Discretionary 7.3%** | **Consumer Discretionary 7.3%** |
| **Automobile Components 1.4%** | **Automobile Components 1.4%** | **Automobile Components 1.4%** |
| BorgWarner, Inc. | &nbsp;&nbsp; 52615 | &nbsp;&nbsp; 2494477 |
| **Broadline Retail 0.8%** | **Broadline Retail 0.8%** | **Broadline Retail 0.8%** |
| Amazon.com, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 6289 | &nbsp;&nbsp; 1504958 |
| **Diversified Consumer Services 1.0%** | **Diversified Consumer Services 1.0%** | **Diversified Consumer Services 1.0%** |
| ADT, Inc. | &nbsp;&nbsp; 224254 | &nbsp;&nbsp; 1794032 |
| **Hotels, Restaurants & Leisure 1.0%** | **Hotels, Restaurants & Leisure 1.0%** | **Hotels, Restaurants & Leisure 1.0%** |
| Booking Holdings, Inc. | &nbsp;&nbsp; 377 | &nbsp;&nbsp; 1885693 |
| **Specialty Retail 1.1%** | **Specialty Retail 1.1%** | **Specialty Retail 1.1%** |
| Lowe's Companies, Inc. | &nbsp;&nbsp; 4862 | &nbsp;&nbsp; 1298446 |
| TJX Companies, Inc. (The) | &nbsp;&nbsp; 4673 | &nbsp;&nbsp; 700062 |
| Total |  | &nbsp;&nbsp; 1998508 |
| **Textiles, Apparel & Luxury Goods 2.0%** | **Textiles, Apparel & Luxury Goods 2.0%** | **Textiles, Apparel & Luxury Goods 2.0%** |
| Ralph Lauren Corp. | &nbsp;&nbsp; 8302 | &nbsp;&nbsp; 2934010 |
| Tapestry, Inc. | &nbsp;&nbsp; 4700 | &nbsp;&nbsp; 596477 |
| Total |  | &nbsp;&nbsp; 3530487 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **13208155** |
| **Consumer Staples 7.1%** | **Consumer Staples 7.1%** | **Consumer Staples 7.1%** |
| **Beverages 0.4%** | **Beverages 0.4%** | **Beverages 0.4%** |
| Molson Coors Beverage Co., Class B | &nbsp;&nbsp; 15011 | &nbsp;&nbsp; 721128 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Consumer Staples Distribution & Retail 0.9%** | **Consumer Staples Distribution & Retail 0.9%** | **Consumer Staples Distribution & Retail 0.9%** |
| Kroger Co. (The) | &nbsp;&nbsp; 3735 | &nbsp;&nbsp; 234745 |
| Target Corp. | &nbsp;&nbsp; 13098 | &nbsp;&nbsp; 1381446 |
| Total |  | &nbsp;&nbsp; 1616191 |
| **Food Products 0.8%** | **Food Products 0.8%** | **Food Products 0.8%** |
| Kraft Heinz Co. (The) | &nbsp;&nbsp; 22200 | &nbsp;&nbsp; 527028 |
| Pilgrim's Pride Corp. | &nbsp;&nbsp; 22429 | &nbsp;&nbsp; 972746 |
| Total |  | &nbsp;&nbsp; 1499774 |
| **Household Products 1.7%** | **Household Products 1.7%** | **Household Products 1.7%** |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 13076 | &nbsp;&nbsp; 1180632 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 12125 | &nbsp;&nbsp; 1840211 |
| Total |  | &nbsp;&nbsp; 3020843 |
| **Tobacco 3.3%** | **Tobacco 3.3%** | **Tobacco 3.3%** |
| Altria Group, Inc. | &nbsp;&nbsp; 62824 | &nbsp;&nbsp; 3894460 |
| Philip Morris International, Inc. | &nbsp;&nbsp; 11930 | &nbsp;&nbsp; 2140719 |
| Total |  | &nbsp;&nbsp; 6035179 |
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **12893115** |
| **Energy 6.6%** | **Energy 6.6%** | **Energy 6.6%** |
| **Oil, Gas & Consumable Fuels 6.6%** | **Oil, Gas & Consumable Fuels 6.6%** | **Oil, Gas & Consumable Fuels 6.6%** |
| Chevron Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 22229 | &nbsp;&nbsp; 3932310 |
| Exxon Mobil Corp. | &nbsp;&nbsp; 38615 | &nbsp;&nbsp; 5460161 |
| Valero Energy Corp. | &nbsp;&nbsp; 14940 | &nbsp;&nbsp; 2710564 |
| Total |  | &nbsp;&nbsp; 12103035 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **12103035** |
| **Financials 20.6%** | **Financials 20.6%** | **Financials 20.6%** |
| **Banks 6.3%** | **Banks 6.3%** | **Banks 6.3%** |
| Citigroup, Inc. | &nbsp;&nbsp; 17385 | &nbsp;&nbsp; 2011619 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 22074 | &nbsp;&nbsp; 6752216 |
| Popular, Inc. | &nbsp;&nbsp; 20010 | &nbsp;&nbsp; 2671935 |
| Total |  | &nbsp;&nbsp; 11435770 |
| **Capital Markets 6.5%** | **Capital Markets 6.5%** | **Capital Markets 6.5%** |
| Blackrock, Inc. | &nbsp;&nbsp; 2805 | &nbsp;&nbsp; 3138627 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 12789 | &nbsp;&nbsp; 1329033 |
| CME Group, Inc. | &nbsp;&nbsp; 12156 | &nbsp;&nbsp; 3513813 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 316 | &nbsp;&nbsp; 295589 |

---

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

Columbia Disciplined Value Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Janus Henderson Group PLC | &nbsp;&nbsp; 51831 | &nbsp;&nbsp; 2494626 |
| S&P Global, Inc. | &nbsp;&nbsp; 1943 | &nbsp;&nbsp; 1025496 |
| Total |  | &nbsp;&nbsp; 11797184 |
| **Consumer Finance 1.4%** | **Consumer Finance 1.4%** | **Consumer Finance 1.4%** |
| Synchrony Financial | &nbsp;&nbsp; 34823 | &nbsp;&nbsp; 2529194 |
| **Financial Services 2.8%** | **Financial Services 2.8%** | **Financial Services 2.8%** |
| Berkshire Hathaway, Inc., Class B<sup>(a)</sup> <br>| &nbsp;&nbsp; 4977 | &nbsp;&nbsp; 2391598 |
| MGIC Investment Corp. | &nbsp;&nbsp; 99600 | &nbsp;&nbsp; 2681232 |
| Total |  | &nbsp;&nbsp; 5072830 |
| **Insurance 3.6%** | **Insurance 3.6%** | **Insurance 3.6%** |
| Allstate Corp. (The) | &nbsp;&nbsp; 11409 | &nbsp;&nbsp; 2270277 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp; 8932 | &nbsp;&nbsp; 1680913 |
| MetLife, Inc. | &nbsp;&nbsp; 33174 | &nbsp;&nbsp; 2616765 |
| Total |  | &nbsp;&nbsp; 6567955 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **37402933** |
| **Health Care 12.1%** | **Health Care 12.1%** | **Health Care 12.1%** |
| **Biotechnology 2.1%** | **Biotechnology 2.1%** | **Biotechnology 2.1%** |
| AbbVie, Inc. | &nbsp;&nbsp; 2264 | &nbsp;&nbsp; 504895 |
| Amgen, Inc. | &nbsp;&nbsp; 1483 | &nbsp;&nbsp; 507008 |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 6048 | &nbsp;&nbsp; 341954 |
| Insmed, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1868 | &nbsp;&nbsp; 293033 |
| Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp; 990 | &nbsp;&nbsp; 734035 |
| Revolution Medicines, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 6608 | &nbsp;&nbsp; 640646 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 1660 | &nbsp;&nbsp; 780034 |
| Total |  | &nbsp;&nbsp; 3801605 |
| **Health Care Equipment & Supplies 0.7%** | **Health Care Equipment & Supplies 0.7%** | **Health Care Equipment & Supplies 0.7%** |
| Envista Holdings Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 57040 | &nbsp;&nbsp; 1338729 |
| **Health Care Providers & Services 2.5%** | **Health Care Providers & Services 2.5%** | **Health Care Providers & Services 2.5%** |
| Centene Corp.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12805 | &nbsp;&nbsp; 554713 |
| Cigna Group (The) | &nbsp;&nbsp; 1807 | &nbsp;&nbsp; 495317 |
| CVS Health Corp. | &nbsp;&nbsp; 18464 | &nbsp;&nbsp; 1375937 |
| McKesson Corp. | &nbsp;&nbsp; 2562 | &nbsp;&nbsp; 2129560 |
| Total |  | &nbsp;&nbsp; 4555527 |
| **Life Sciences Tools & Services 0.9%** | **Life Sciences Tools & Services 0.9%** | **Life Sciences Tools & Services 0.9%** |
| Charles River Laboratories International, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 8189 | &nbsp;&nbsp; 1723621 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Pharmaceuticals 5.9%** | **Pharmaceuticals 5.9%** | **Pharmaceuticals 5.9%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 66661 | &nbsp;&nbsp; 3669688 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> <br>| &nbsp;&nbsp; 15042 | &nbsp;&nbsp; 2474258 |
| Pfizer, Inc. | &nbsp;&nbsp; 45215 | &nbsp;&nbsp; 1195485 |
| Viatris, Inc. | &nbsp;&nbsp; 254137 | &nbsp;&nbsp; 3326653 |
| Total |  | &nbsp;&nbsp; 10666084 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **22085566** |
| **Industrials 13.1%** | **Industrials 13.1%** | **Industrials 13.1%** |
| **Aerospace & Defense 1.9%** | **Aerospace & Defense 1.9%** | **Aerospace & Defense 1.9%** |
| General Dynamics Corp. | &nbsp;&nbsp; 9961 | &nbsp;&nbsp; 3497207 |
| **Construction & Engineering 2.6%** | **Construction & Engineering 2.6%** | **Construction & Engineering 2.6%** |
| EMCOR Group, Inc. | &nbsp;&nbsp; 4730 | &nbsp;&nbsp; 3409053 |
| Valmont Industries, Inc. | &nbsp;&nbsp; 2966 | &nbsp;&nbsp; 1321531 |
| Total |  | &nbsp;&nbsp; 4730584 |
| **Ground Transportation 1.7%** | **Ground Transportation 1.7%** | **Ground Transportation 1.7%** |
| Lyft, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 53340 | &nbsp;&nbsp; 899846 |
| Union Pacific Corp. | &nbsp;&nbsp; 9578 | &nbsp;&nbsp; 2251788 |
| Total |  | &nbsp;&nbsp; 3151634 |
| **Machinery 5.1%** | **Machinery 5.1%** | **Machinery 5.1%** |
| Caterpillar, Inc. | &nbsp;&nbsp; 632 | &nbsp;&nbsp; 415452 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp; 4335 | &nbsp;&nbsp; 1132562 |
| Pentair PLC | &nbsp;&nbsp; 16378 | &nbsp;&nbsp; 1725750 |
| Snap-On, Inc. | &nbsp;&nbsp; 7786 | &nbsp;&nbsp; 2850532 |
| Toro Co. (The) | &nbsp;&nbsp; 33478 | &nbsp;&nbsp; 3063237 |
| Total |  | &nbsp;&nbsp; 9187533 |
| **Passenger Airlines 0.7%** | **Passenger Airlines 0.7%** | **Passenger Airlines 0.7%** |
| United Airlines Holdings, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 12632 | &nbsp;&nbsp; 1292506 |
| **Professional Services 1.1%** | **Professional Services 1.1%** | **Professional Services 1.1%** |
| Automatic Data Processing, Inc. | &nbsp;&nbsp; 8141 | &nbsp;&nbsp; 2009362 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **23868826** |
| **Information Technology 11.3%** | **Information Technology 11.3%** | **Information Technology 11.3%** |
| **Communications Equipment 2.1%** | **Communications Equipment 2.1%** | **Communications Equipment 2.1%** |
| Cisco Systems, Inc. | &nbsp;&nbsp; 49149 | &nbsp;&nbsp; 3849350 |
| **Electronic Equipment, Instruments & Components 1.7%** | **Electronic Equipment, Instruments & Components 1.7%** | **Electronic Equipment, Instruments & Components 1.7%** |
| Keysight Technologies, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 14400 | &nbsp;&nbsp; 3115152 |

---

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

Columbia Disciplined Value Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Semiconductors & Semiconductor Equipment 5.3%** | **Semiconductors & Semiconductor Equipment 5.3%** | **Semiconductors & Semiconductor Equipment 5.3%** |
| Advanced Micro Devices, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 14037 | &nbsp;&nbsp; 3322979 |
| Cirrus Logic, Inc.<sup>(a)</sup> <br>| &nbsp;&nbsp; 3444 | &nbsp;&nbsp; 448891 |
| Marvell Technology, Inc. | &nbsp;&nbsp; 6843 | &nbsp;&nbsp; 540049 |
| Micron Technology, Inc. | &nbsp;&nbsp; 3900 | &nbsp;&nbsp; 1618032 |
| QUALCOMM, Inc. | &nbsp;&nbsp; 24359 | &nbsp;&nbsp; 3692581 |
| Total |  | &nbsp;&nbsp; 9622532 |
| **Software 2.2%** | **Software 2.2%** | **Software 2.2%** |
| Nutanix, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 20423 | &nbsp;&nbsp; 803237 |
| Salesforce, Inc. | &nbsp;&nbsp; 15115 | &nbsp;&nbsp; 3208763 |
| Total |  | &nbsp;&nbsp; 4012000 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **20599034** |
| **Materials 3.8%** | **Materials 3.8%** | **Materials 3.8%** |
| **Chemicals 1.2%** | **Chemicals 1.2%** | **Chemicals 1.2%** |
| CF Industries Holdings, Inc. | &nbsp;&nbsp; 22503 | &nbsp;&nbsp; 2097955 |
| **Construction Materials 0.8%** | **Construction Materials 0.8%** | **Construction Materials 0.8%** |
| CRH PLC | &nbsp;&nbsp; 11883 | &nbsp;&nbsp; 1454598 |
| **Metals & Mining 1.8%** | **Metals & Mining 1.8%** | **Metals & Mining 1.8%** |
| Anglogold Ashanti PLC | &nbsp;&nbsp; 10823 | &nbsp;&nbsp; 1005132 |
| Newmont Corp. | &nbsp;&nbsp; 20663 | &nbsp;&nbsp; 2321488 |
| Total |  | &nbsp;&nbsp; 3326620 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **6879173** |
| **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** |
| **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** | **Real Estate Management & Development 0.4%** |
| CBRE Group, Inc., Class A<sup>(a)</sup> <br>| &nbsp;&nbsp; 4017 | &nbsp;&nbsp; 684216 |
| **Retail REITs 0.2%** | **Retail REITs 0.2%** | **Retail REITs 0.2%** |
| Simon Property Group, Inc. | &nbsp;&nbsp; 1846 | &nbsp;&nbsp; 353158 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Specialized REITs 2.9%** | **Specialized REITs 2.9%** | **Specialized REITs 2.9%** |
| Equinix, Inc. | &nbsp;&nbsp; 3104 | &nbsp;&nbsp; 2548167 |
| SBA Communications Corp. | &nbsp;&nbsp; 15326 | &nbsp;&nbsp; 2821670 |
| Total |  | &nbsp;&nbsp; 5369837 |
| **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **6407211** |
| **Utilities 4.6%** | **Utilities 4.6%** | **Utilities 4.6%** |
| **Electric Utilities 3.0%** | **Electric Utilities 3.0%** | **Electric Utilities 3.0%** |
| Edison International | &nbsp;&nbsp; 34426 | &nbsp;&nbsp; 2144051 |
| Exelon Corp. | &nbsp;&nbsp; 18622 | &nbsp;&nbsp; 833893 |
| PG&E Corp. | &nbsp;&nbsp; 156275 | &nbsp;&nbsp; 2409761 |
| Total |  | &nbsp;&nbsp; 5387705 |
| **Independent Power and Renewable Electricity Producers 1.6%** | **Independent Power and Renewable Electricity Producers 1.6%** | **Independent Power and Renewable Electricity Producers 1.6%** |
| AES Corp. (The) | &nbsp;&nbsp; 198422 | &nbsp;&nbsp; 2906882 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **8294587** |
| Total Common Stocks <br>(Cost $138,544,673) | Total Common Stocks <br>(Cost $138,544,673) | &nbsp;&nbsp; **179727342** |
| **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 2073809 | &nbsp;&nbsp; 2073187 |
| Total Money Market Funds <br>(Cost $2,073,103) | Total Money Market Funds <br>(Cost $2,073,103) | &nbsp;&nbsp; **2073187** |
| **Total Investments in Securities** <br>**(Cost: $140,617,776)** | **Total Investments in Securities** <br>**(Cost: $140,617,776)** | &nbsp;&nbsp; **181800529** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **53419** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **181853948** |

---

At January 31, 2026, securities and/or cash totaling $462,770 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>|
| S&P 500 Index E-mini | 7 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2438013 | &nbsp;&nbsp;&nbsp;&nbsp; 13973 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

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

Columbia Disciplined Value Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Notes to Portfolio of Investments** 

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) This security or a portion of this security has been pledged as collateral in connection with investments sold short and/or derivative contracts.

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended January 31, 2026 are as follows:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% |
|  | 2130200 | &nbsp;&nbsp; 8523902 | &nbsp;&nbsp; (8580916)<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; 2073187 | &nbsp;&nbsp; (37)<br>| &nbsp;&nbsp; 43396 | &nbsp;&nbsp; 2073809 |

---

**Currency Legend** 

USD US Dollar

**Fair value measurements** 

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

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

■

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

■

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

■

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

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

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

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

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

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

Columbia Disciplined Value Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 15985707 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15985707 |
| Consumer Discretionary | 13208155 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13208155 |
| Consumer Staples | 12893115 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12893115 |
| Energy | 12103035 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12103035 |
| Financials | 37402933 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37402933 |
| Health Care | 22085566 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22085566 |
| Industrials | 23868826 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23868826 |
| Information Technology | 20599034 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20599034 |
| Materials | 6879173 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6879173 |
| Real Estate | 6407211 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6407211 |
| Utilities | 8294587 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8294587 |
| Total Common Stocks | 179727342 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 179727342 |
| Money Market Funds | 2073187 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2073187 |
| Total Investments in Securities | 181800529 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 181800529 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Futures Contracts | 13973 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13973 |
| Total | 181814502 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 181814502 |

---

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

Derivative instruments are valued at unrealized appreciation (depreciation).

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

Columbia Disciplined Value Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $138,544,673) | $179727342 |
| Affiliated issuers (cost $2,073,103) | 2073187 |
| Receivable for: |  |
| Capital shares sold | 13635 |
| Dividends | 258255 |
| Foreign tax reclaims | 1106 |
| Variation margin for futures contracts | 559 |
| Expense reimbursement due from Investment Manager | 741 |
| Prepaid expenses | 2697 |
| Total assets | 182077522 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 48346 |
| Variation margin for futures contracts | 10800 |
| Management services fees | 3755 |
| Distribution and/or service fees | 801 |
| Transfer agent fees | 10175 |
| Compensation of chief compliance officer | 15 |
| Accounting services fees | 16256 |
| Compensation of board members | 653 |
| Other expenses | 14798 |
| Deferred compensation of board members | 117975 |
| Total liabilities | 223574 |
| **Net assets applicable to outstanding capital stock** | **$181853948** |
| **Represented by** |  |
| Paid in capital | 136472734 |
| Total distributable earnings (loss) | 45381214 |
| **Total - representing net assets applicable to outstanding capital stock** | **$181853948** |
| **Class A** |  |
| Net assets | $143818108 |
| Shares outstanding | 16226461 |
| Net asset value per share | $8.86 |
| Maximum sales charge  | 5.75% |
| Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.40 |
| **Class C** |  |
| Net assets | $3213086 |
| Shares outstanding | 384241 |
| Net asset value per share | $8.36 |
| **Institutional Class** |  |
| Net assets | $34822754 |
| Shares outstanding | 3841956 |
| Net asset value per share | $9.06 |

---

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

Columbia Disciplined Value Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $1853944 |
| Dividends — affiliated issuers | 43396 |
| Foreign taxes withheld | (1424)<br>|
| Total income | 1895916 |
| Expenses: |  |
| Management services fees | 667156 |
| Distribution and/or service fees |  |
| Class A | 123887 |
| Class C | 30933 |
| Transfer agent fees |  |
| Class A | 63602 |
| Class C | 2877 |
| Institutional Class | 15751 |
| Custodian fees | 3631 |
| Printing and postage fees | 10067 |
| Registration fees | 29718 |
| Accounting services fees | 16256 |
| Legal fees | 9621 |
| Interest on collateral | 78 |
| Compensation of chief compliance officer | 15 |
| Compensation of board members | 6516 |
| Deferred compensation of board members | 14455 |
| Other | 5137 |
| Total expenses | 999700 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (150139)<br>|
| Expense reduction | (822)<br>|
| Total net expenses | 848739 |
| **Net investment income** | 1047177 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 10304748 |
| Investments — affiliated issuers | (37)<br>|
| Futures contracts | 180590 |
| Net realized gain | 10485301 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 10007071 |
| Investments — affiliated issuers | 1 |
| Futures contracts | (45595)<br>|
| Net change in unrealized appreciation (depreciation) | 9961477 |
| Net realized and unrealized gain | 20446778 |
| **Net increase in net assets resulting from operations** | **$21493955** |

---

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

Columbia Disciplined Value Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $1047177 | &nbsp;&nbsp; $2640756 |
| Net realized gain | 10485301 | &nbsp;&nbsp; 15793603 |
| Net change in unrealized appreciation (depreciation) | 9961477 | &nbsp;&nbsp; (6955292)<br>|
| Net increase in net assets resulting from operations | 21493955 | &nbsp;&nbsp; 11479067 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (15180385)<br>| &nbsp;&nbsp; (13985880)<br>|
| Class C | (337540)<br>| &nbsp;&nbsp; (835570)<br>|
| Institutional Class | (3604503)<br>| &nbsp;&nbsp; (3958048)<br>|
| Total distributions to shareholders | (19122428)<br>| &nbsp;&nbsp; (18779498)<br>|
| Increase (decrease) in net assets from capital stock activity | 7462846 | &nbsp;&nbsp; (2299197)<br>|
| Total increase (decrease) in net assets | 9834373 | &nbsp;&nbsp; (9599628)<br>|
| Net assets at beginning of period | 172019575 | &nbsp;&nbsp; 181619203 |
| **Net assets at end of period** | **$181853948** | &nbsp;&nbsp; **$172019575** |

---

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

Columbia Disciplined Value Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 907843 | &nbsp;&nbsp;&nbsp;&nbsp; 8270686 | &nbsp;&nbsp;&nbsp;&nbsp; 826466 | &nbsp;&nbsp;&nbsp;&nbsp; 7345292 |
| Distributions reinvested | 1661719 | &nbsp;&nbsp;&nbsp;&nbsp; 13991676 | &nbsp;&nbsp;&nbsp;&nbsp; 1465409 | &nbsp;&nbsp;&nbsp;&nbsp; 12822326 |
| Shares redeemed | (1184599)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10542579)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2143957)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (18911164)<br>|
| Net increase | 1384963 | &nbsp;&nbsp;&nbsp;&nbsp; 11719783 | &nbsp;&nbsp;&nbsp;&nbsp; 147918 | &nbsp;&nbsp;&nbsp;&nbsp; 1256454 |
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26512 | &nbsp;&nbsp;&nbsp;&nbsp; 244568 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (612330)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6166601)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (585818)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5922033)<br>|
| Class C |  |  |  |  |
| Shares sold | 14091 | &nbsp;&nbsp;&nbsp;&nbsp; 116902 | &nbsp;&nbsp;&nbsp;&nbsp; 65549 | &nbsp;&nbsp;&nbsp;&nbsp; 539934 |
| Distributions reinvested | 42405 | &nbsp;&nbsp;&nbsp;&nbsp; 337540 | &nbsp;&nbsp;&nbsp;&nbsp; 98806 | &nbsp;&nbsp;&nbsp;&nbsp; 822069 |
| Shares redeemed | (630654)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5469988)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (167612)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1405391)<br>|
| Net decrease | (574158)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5015546)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3257)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (43388)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 156886 | &nbsp;&nbsp;&nbsp;&nbsp; 1436706 | &nbsp;&nbsp;&nbsp;&nbsp; 1417934 | &nbsp;&nbsp;&nbsp;&nbsp; 13535588 |
| Distributions reinvested | 397979 | &nbsp;&nbsp;&nbsp;&nbsp; 3426600 | &nbsp;&nbsp;&nbsp;&nbsp; 421960 | &nbsp;&nbsp;&nbsp;&nbsp; 3763886 |
| Shares redeemed | (446772)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4104697)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1662813)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14889704)<br>|
| Net increase | 108093 | &nbsp;&nbsp;&nbsp;&nbsp; 758609 | &nbsp;&nbsp;&nbsp;&nbsp; 177081 | &nbsp;&nbsp;&nbsp;&nbsp; 2409770 |
| **Total net increase (decrease)** | **918898** | &nbsp;&nbsp;&nbsp;&nbsp; **7462846** | &nbsp;&nbsp;&nbsp;&nbsp; **(264076)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(2299197)**<br>|

---

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

Columbia Disciplined Value Fund \| 2026

------

Financial Highlights

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.79 | 0.05 | 1.03 | 1.08 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (1.01)<br>|
| Year Ended 7/31/2025 | $9.16 | 0.13 | 0.48 | 0.61 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (0.98)<br>|
| Year Ended 7/31/2024 | $8.43 | 0.12 | 1.22 | 1.34 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.61)<br>|
| Year Ended 7/31/2023 | $8.68 | 0.11 | 0.62 | 0.73 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (0.98)<br>|
| Year Ended 7/31/2022 | $11.21 | 0.13 | 0.18 | 0.31 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.84)<br>|
| Year Ended 7/31/2021 | $8.09 | 0.14 | 3.12 | 3.26 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.14)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.32 | 0.02 | 0.96 | 0.98 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (0.94)<br>|
| Year Ended 7/31/2025 | $8.71 | 0.05 | 0.47 | 0.52 | &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (0.91)<br>|
| Year Ended 7/31/2024 | $8.05 | 0.06 | 1.15 | 1.21 | &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.55)<br>|
| Year Ended 7/31/2023 | $8.33 | 0.05 | 0.58 | 0.63 | &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (0.91)<br>|
| Year Ended 7/31/2022 | $10.86 | 0.06 | 0.17 | 0.23 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.76)<br>|
| Year Ended 7/31/2021 | $7.84 | 0.07 | 3.03 | 3.10 | &nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.08)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.98 | 0.06 | 1.05 | 1.11 | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.89)<br>| &nbsp;&nbsp; (1.03)<br>|
| Year Ended 7/31/2025 | $9.33 | 0.15 | 0.50 | 0.65 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (1.00)<br>|
| Year Ended 7/31/2024 | $8.58 | 0.15 | 1.23 | 1.38 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.63)<br>|
| Year Ended 7/31/2023 | $8.82 | 0.13 | 0.63 | 0.76 | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp; (1.00)<br>|
| Year Ended 7/31/2022 | $11.35 | 0.16 | 0.17 | 0.33 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp; (2.86)<br>|
| Year Ended 7/31/2021 | $8.19 | 0.17 | 3.15 | 3.32 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.16)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | Ratios include interest on collateral expense which is less than 0.01%. |
| (d) | The benefits derived from expense reductions had an impact of less than 0.01%. |

---

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

Columbia Disciplined Value Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.86 | &nbsp;&nbsp;&nbsp;&nbsp; 12.92%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.13% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17% | &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $143818 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.79 | &nbsp;&nbsp;&nbsp;&nbsp; 6.72%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.10% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.49% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $130530 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.16 | &nbsp;&nbsp;&nbsp;&nbsp; 17.19%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.22% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.47% | &nbsp;&nbsp;&nbsp;&nbsp; 60% | &nbsp;&nbsp;&nbsp;&nbsp; $134589 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.43 | &nbsp;&nbsp;&nbsp;&nbsp; 9.59%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.26% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.04% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.36% | &nbsp;&nbsp;&nbsp;&nbsp; 60% | &nbsp;&nbsp;&nbsp;&nbsp; $50501 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.68 | &nbsp;&nbsp;&nbsp;&nbsp; 2.26%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.22% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.02% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.32% | &nbsp;&nbsp;&nbsp;&nbsp; 66% | &nbsp;&nbsp;&nbsp;&nbsp; $53946 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $11.21 | &nbsp;&nbsp;&nbsp;&nbsp; 40.74%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.31% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.09% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.46% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $65698 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.36 | &nbsp;&nbsp;&nbsp;&nbsp; 12.34%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.95% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.78% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39% | &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $3213 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.32 | &nbsp;&nbsp;&nbsp;&nbsp; 5.94%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.95% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.75% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $7970 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $8.71 | &nbsp;&nbsp;&nbsp;&nbsp; 16.23%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.99% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69% | &nbsp;&nbsp;&nbsp;&nbsp; 60% | &nbsp;&nbsp;&nbsp;&nbsp; $8376 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.05 | &nbsp;&nbsp;&nbsp;&nbsp; 8.72%<br> &nbsp;&nbsp;&nbsp;&nbsp; 2.01% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.79% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.61% | &nbsp;&nbsp;&nbsp;&nbsp; 60% | &nbsp;&nbsp;&nbsp;&nbsp; $7788 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.33 | &nbsp;&nbsp;&nbsp;&nbsp; 1.52%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.97% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.77% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60% | &nbsp;&nbsp;&nbsp;&nbsp; 66% | &nbsp;&nbsp;&nbsp;&nbsp; $9139 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $10.86 | &nbsp;&nbsp;&nbsp;&nbsp; 39.78%<br> &nbsp;&nbsp;&nbsp;&nbsp; 2.06% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.84% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $8389 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $9.06 | &nbsp;&nbsp;&nbsp;&nbsp; 12.92%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35% | &nbsp;&nbsp;&nbsp;&nbsp; 25% | &nbsp;&nbsp;&nbsp;&nbsp; $34823 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.98 | &nbsp;&nbsp;&nbsp;&nbsp; 7.00%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.76% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.64% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $33520 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.33 | &nbsp;&nbsp;&nbsp;&nbsp; 17.41%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.99% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.70% | &nbsp;&nbsp;&nbsp;&nbsp; 60% | &nbsp;&nbsp;&nbsp;&nbsp; $33192 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.58 | &nbsp;&nbsp;&nbsp;&nbsp; 9.85%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.01% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.79% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.61% | &nbsp;&nbsp;&nbsp;&nbsp; 60% | &nbsp;&nbsp;&nbsp;&nbsp; $33223 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.82 | &nbsp;&nbsp;&nbsp;&nbsp; 2.53%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.97% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.59% | &nbsp;&nbsp;&nbsp;&nbsp; 66% | &nbsp;&nbsp;&nbsp;&nbsp; $35943 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $11.35 | &nbsp;&nbsp;&nbsp;&nbsp; 41.04%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.07% <br><sup>(c)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.84% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.75% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $38094 |

---

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

Columbia Disciplined Value Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Disciplined Value Fund (the Fund), a series of Columbia Funds Series Trust II (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 shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

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

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

**Segment reporting**

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

**Security valuation**

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

Columbia Disciplined Value Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

Futures and options on futures contracts are valued based upon the settlement price at the close of regular trading on their principal exchanges or, in the absence of a settlement price, at the mean of the latest quoted bid and ask prices.

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

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

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

**Derivative instruments**

The Fund invests in certain derivative instruments, as detailed below, in seeking to meet its investment objectives. Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more securities, currencies, commodities, indices, or other assets or instruments. Derivatives may be used to increase investment flexibility (including to maintain cash reserves while maintaining desired exposure to certain assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. The Fund may also use derivative instruments to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. Derivatives may involve various risks, including the potential inability of the counterparty to fulfill its obligations under the terms of the contract, the potential for an illiquid secondary market (making it difficult for the Fund to sell or terminate, including at favorable prices) and the potential for market movements which may expose the Fund to gains or losses in excess of the amount shown in the Statement of Assets and Liabilities. The notional exposure of a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument and/or changes in value for the instrument. The notional exposure is a hypothetical underlying quantity upon which payment obligations are computed. Notional exposures provide a gauge for how the Fund may behave given changes in the underlying rate, asset or reference instrument and individual markets. The notional amounts of derivative instruments, if applicable, are not recorded in the financial statements.

A derivative instrument may suffer a marked-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform its obligations under the contract. The Fund's risk of loss from counterparty credit risk on over-the-counter derivatives is generally expected to be limited to the aggregate unrealized gain netted against any collateral held by the Fund and the amount of any variation margin held by the counterparty, plus any replacement costs or related amounts. With

Columbia Disciplined Value Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

exchange-traded or centrally cleared derivatives, there is reduced counterparty credit risk to the Fund since the clearinghouse or central counterparty provides some protection in the case of clearing member default. The clearinghouse stands between the buyer and the seller of the contract; therefore, the primary counterparty credit risk is the risk of failure of the clearinghouse. However, credit risk still exists in exchange-traded and centrally cleared derivatives with respect to any collateral that is held in a broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients and such shortfall is remedied by the central counterparty or otherwise, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the clearing broker's customers (including the Fund) by account class, potentially resulting in losses to the Fund.

In connection with certain over-the-counter derivatives, the Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or similar agreement with its derivatives counterparties. An ISDA Master Agreement is an agreement between the Fund and a counterparty that governs over-the-counter derivatives and foreign exchange forward contracts and contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting), including the bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset or netting in bankruptcy, insolvency or other events.

Collateral (margin) requirements differ by type of derivative. Margin requirements are established by the clearinghouse or central counterparty for exchange-traded and centrally cleared derivatives. Brokers can ask for margin in excess of the minimum in certain circumstances. Collateral terms for most over-the-counter derivatives are subject to regulatory requirements to exchange variation margin with trading counterparties and may have contract specific margin terms as well. For over-the-counter derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the marked-to-market amount for each transaction under such agreement and comparing that amount to the value of any variation margin currently pledged by the Fund and/or the counterparty. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold (e.g., $250,000) before a transfer has to be made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance. The Fund may also pay interest expense on cash collateral received from the broker or receive interest income on cash collateral pledged to the broker. The Fund attempts to mitigate counterparty risk by only entering into agreements with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

Certain ISDA Master Agreements allow counterparties of over-the-counter derivatives transactions to terminate derivatives contracts prior to maturity in the event the Fund's net asset value declines by a stated percentage over a specified time period or if the Fund fails to meet certain terms of the ISDA Master Agreement, which would cause the Fund to accelerate payment of any net liability owed to the counterparty. The Fund also has termination rights if the counterparty fails to meet certain terms of the ISDA Master Agreement. In determining whether to exercise such termination rights, the Fund would consider, in addition to counterparty credit risk, whether termination would result in a net liability owed from the counterparty.

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities.

**Futures contracts**

Futures contracts are exchange-traded and represent commitments for the future purchase or sale of an asset at a specified price on a specified date. The Fund bought and sold futures contracts to manage its exposure to the securities markets or to movements in interest rates and currency values. A Fund invests in futures contracts as part of its primary investment strategy and/or to equitize its cash flows. Investments in futures contracts may increase or decrease exposure to a particular market. These instruments may be used for other purposes in future periods. Upon entering into futures

Columbia Disciplined Value Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

contracts, the Fund bears risks that it may not achieve the anticipated benefits of the futures contracts and may realize a loss. Additional risks include counterparty credit risk, the possibility of an illiquid market, and that a change in the value of the contract or option may not correlate with changes in the value of the underlying asset.

Upon entering into a futures contract, the Fund deposits cash or securities with the broker, known as a futures commission merchant (FCM), in an amount sufficient to meet the initial margin requirement. The initial margin deposit must be maintained at an established level over the life of the contract. Cash deposited as initial margin is recorded in the Statement of Assets and Liabilities as margin deposits. Securities deposited as initial margin are designated in the Portfolio of Investments. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily change in the contract value and are recorded as variation margin receivable or payable and are offset in unrealized gains or losses. The Fund generally expects to earn interest income on its margin deposits. The Fund recognizes a realized gain or loss when the contract is closed or expires. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities.

**Effects of derivative transactions in the financial statements**

The following tables are intended to provide additional information about the effect of derivatives on the financial statements of the Fund, including: the fair value of derivatives by risk category and the location of those fair values in the Statement of Assets and Liabilities; and the impact of derivative transactions over the period in the Statement of Operations, including realized and unrealized gains (losses). The derivative instrument schedules following the Portfolio of Investments present additional information regarding derivative instruments outstanding at the end of the period, if any.

The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Asset derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 13,973<br> \*<br>|

---

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

\* Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day's variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities.

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; 180590 |
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Equity risk | &nbsp;&nbsp; (45595)<br>|

---

The following table is a summary of the average daily outstanding volume by derivative instrument for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 2451402 |

---

Columbia Disciplined Value Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Security transactions**

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

**Income recognition**

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

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

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

**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.

Columbia Disciplined Value Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Distributions to shareholders**

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

**Guarantees and indemnifications**

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

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.75% to 0.55% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.75% 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 Disciplined Value Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees.

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

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.09 |
| Class C | 0.09 |
| Institutional Class | 0.09 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $822.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and 1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $59,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced. For Class A shares, the Fund currently pays the distribution fees up to the point where the Distributor's expenses are fully recovered.

**Sales charges** 

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

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 5.75<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 15580 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — |

---

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

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

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

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

Columbia Disciplined Value Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee rate(s) contractual** <br>**through** <br>**November 30, 2026 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.03 |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.78 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78 |

---

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

Note 4. Federal tax information

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 140618000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2123000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41197000 |

---

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

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

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $43,406,986 and $53,988,161, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Columbia Disciplined Value Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

Note 8. Line of credit

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

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

Note 9. Risks and uncertainties

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

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances,

Columbia Disciplined Value Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

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

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

Note 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 Disciplined Value Fund \| 2026

------

**Columbia Disciplined Value Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img89fd8d532.jpg)

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

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

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

columbiathreadneedleus.com/investor/

SAR179_07_T01_(03/26)

------

![](g80035img624290d41.jpg)

Columbia Floating Rate Fund

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

January 31, 2026 (Unaudited)

---

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

---

------

**Table of Contents**

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

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_6311e51e-510d-4a89-b849-1111a4285fc6_POI-CommonContent-Date-66_1) | 3 |
| [Statement of Assets and Liabilities](#xx_6311e51e-510d-4a89-b849-1111a4285fc6_FS-CommonContent-Date-66_1) | 24 |
| [Statement of Operations](#xx_6311e51e-510d-4a89-b849-1111a4285fc6_FS-CommonContent-Date-66_2) | 25 |
| [Statement of Changes in Net Assets](#xx_6311e51e-510d-4a89-b849-1111a4285fc6_FS-CommonContent-Date-66_3) | 26 |
| [Financial Highlights](#xx_6311e51e-510d-4a89-b849-1111a4285fc6_FIHI-CommonContent-Date-66_1) | 28 |
| [Notes to Financial Statements](#xx_6311e51e-510d-4a89-b849-1111a4285fc6_NTF-CommonContent-Date-66_1) | 32 |

---

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Securities - Non-Agency 4.5%** | **Asset-Backed Securities - Non-Agency 4.5%** | **Asset-Backed Securities - Non-Agency 4.5%** | **Asset-Backed Securities - Non-Agency 4.5%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Ares XXVII CLO Ltd.<sup>(a),(b)</sup>  | Ares XXVII CLO Ltd.<sup>(a),(b)</sup>  | Ares XXVII CLO Ltd.<sup>(a),(b)</sup>  | Ares XXVII CLO Ltd.<sup>(a),(b)</sup>  |
| Series 2024-2A Class DR3 | Series 2024-2A Class DR3 | Series 2024-2A Class DR3 | Series 2024-2A Class DR3 |
| 3-month Term SOFR + 3.000% <br>Floor 3.000% <br>10/28/2034<br>| &nbsp;&nbsp; 6.671% | 3000000 | &nbsp;&nbsp; 3002313 |
| Bain Capital Credit CLO<sup>(a),(b)</sup>  | Bain Capital Credit CLO<sup>(a),(b)</sup>  | Bain Capital Credit CLO<sup>(a),(b)</sup>  | Bain Capital Credit CLO<sup>(a),(b)</sup>  |
| Series 2019-1A Class DR2 | Series 2019-1A Class DR2 | Series 2019-1A Class DR2 | Series 2019-1A Class DR2 |
| 3-month Term SOFR + 3.100% <br>Floor 3.100% <br>04/19/2034<br>| &nbsp;&nbsp; 6.768% | 2000000 | &nbsp;&nbsp; 2000000 |
| Ballyrock CLO Ltd.<sup>(a),(b)</sup>  | Ballyrock CLO Ltd.<sup>(a),(b)</sup>  | Ballyrock CLO Ltd.<sup>(a),(b)</sup>  | Ballyrock CLO Ltd.<sup>(a),(b)</sup>  |
| Series 2021-16A Class C1R | Series 2021-16A Class C1R | Series 2021-16A Class C1R | Series 2021-16A Class C1R |
| 3-month Term SOFR + 2.750% <br>Floor 2.750% <br>04/20/2038<br>| &nbsp;&nbsp; 6.418% | 3000000 | &nbsp;&nbsp; 2989590 |
| Carlyle US CLO Ltd.<sup>(a),(b)</sup>  | Carlyle US CLO Ltd.<sup>(a),(b)</sup>  | Carlyle US CLO Ltd.<sup>(a),(b)</sup>  | Carlyle US CLO Ltd.<sup>(a),(b)</sup>  |
| Series 2021-2A Class D1R | Series 2021-2A Class D1R | Series 2021-2A Class D1R | Series 2021-2A Class D1R |
| 3-month Term SOFR + 2.850% <br>Floor 2.850% <br>04/20/2038<br>| &nbsp;&nbsp; 6.734% | 3000000 | &nbsp;&nbsp; 3005943 |
| Elmwood CLO Ltd.<sup>(a),(b)</sup>  | Elmwood CLO Ltd.<sup>(a),(b)</sup>  | Elmwood CLO Ltd.<sup>(a),(b)</sup>  | Elmwood CLO Ltd.<sup>(a),(b)</sup>  |
| Series 2022-5A Class D1RR | Series 2022-5A Class D1RR | Series 2022-5A Class D1RR | Series 2022-5A Class D1RR |
| 3-month Term SOFR + 2.950% <br>Floor 2.950% <br>07/17/2037<br>| &nbsp;&nbsp; 6.618% | 2000000 | &nbsp;&nbsp; 2002208 |
| Market Street CLO Ltd. II<sup>(a),(b)</sup>  | Market Street CLO Ltd. II<sup>(a),(b)</sup>  | Market Street CLO Ltd. II<sup>(a),(b)</sup>  | Market Street CLO Ltd. II<sup>(a),(b)</sup>  |
| Series 2025-2A Class D1 | Series 2025-2A Class D1 | Series 2025-2A Class D1 | Series 2025-2A Class D1 |
| 3-month Term SOFR + 3.250% <br>Floor 3.250% <br>03/20/2038<br>| &nbsp;&nbsp; 3.870% | 3000000 | &nbsp;&nbsp; 3037443 |
| Palmer Square CLO Ltd.<sup>(a),(b)</sup>  | Palmer Square CLO Ltd.<sup>(a),(b)</sup>  | Palmer Square CLO Ltd.<sup>(a),(b)</sup>  | Palmer Square CLO Ltd.<sup>(a),(b)</sup>  |
| Series 2021-1A Class C1R | Series 2021-1A Class C1R | Series 2021-1A Class C1R | Series 2021-1A Class C1R |
| 3-month Term SOFR + 2.700% <br>Floor 2.700% <br>04/20/2038<br>| &nbsp;&nbsp; 6.368% | 3000000 | &nbsp;&nbsp; 3005868 |
| Series 2023-1A Class D1R | Series 2023-1A Class D1R | Series 2023-1A Class D1R | Series 2023-1A Class D1R |
| 3-month Term SOFR + 2.650% <br>Floor 2.650% <br>01/20/2038<br>| &nbsp;&nbsp; 6.318% | 3000000 | &nbsp;&nbsp; 3005256 |
| Regatta Funding Ltd.<sup>(a),(b)</sup>  | Regatta Funding Ltd.<sup>(a),(b)</sup>  | Regatta Funding Ltd.<sup>(a),(b)</sup>  | Regatta Funding Ltd.<sup>(a),(b)</sup>  |
| Series 2021-1A Class D1R | Series 2021-1A Class D1R | Series 2021-1A Class D1R | Series 2021-1A Class D1R |
| 3-month Term SOFR + 2.600% <br>Floor 2.600% <br>04/15/2038<br>| &nbsp;&nbsp; 6.272% | 3000000 | &nbsp;&nbsp; 3002589 |
| TCW CLO Ltd.<sup>(a),(b)</sup>  | TCW CLO Ltd.<sup>(a),(b)</sup>  | TCW CLO Ltd.<sup>(a),(b)</sup>  | TCW CLO Ltd.<sup>(a),(b)</sup>  |
| Series 2018-1A Class D1R3 | Series 2018-1A Class D1R3 | Series 2018-1A Class D1R3 | Series 2018-1A Class D1R3 |
| 3-month Term SOFR + 3.500% <br>10/25/2035<br>| &nbsp;&nbsp; 7.168% | 2000000 | &nbsp;&nbsp; 2003696 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Series 2023-2A Class DJR | Series 2023-2A Class DJR | Series 2023-2A Class DJR | Series 2023-2A Class DJR |
| 3-month Term SOFR + 4.250% <br>Floor 4.250% <br>01/24/2039<br>| &nbsp;&nbsp; 3.685% | 4000000 | &nbsp;&nbsp; 4003964 |
| Total Asset-Backed Securities — Non-Agency <br>(Cost $31,029,496) | Total Asset-Backed Securities — Non-Agency <br>(Cost $31,029,496) | Total Asset-Backed Securities — Non-Agency <br>(Cost $31,029,496) | &nbsp;&nbsp; **31058870** |

---

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

---

| | | |
|:---|:---|:---|
| **Common Stocks 0.6%** | **Common Stocks 0.6%** | **Common Stocks 0.6%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 0.3%** | **Communication Services 0.3%** | **Communication Services 0.3%** |
| **Diversified Telecommunication Services 0.2%** | **Diversified Telecommunication Services 0.2%** | **Diversified Telecommunication Services 0.2%** |
| Uniti Group, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp; 165064 | &nbsp;&nbsp; 1373332 |
| **Media 0.1%** | **Media 0.1%** | **Media 0.1%** |
| Clear Channel Outdoor Holdings, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp; 198952 | &nbsp;&nbsp; 415810 |
| Star Tribune Co. (The)<sup>(c),(d),(e)</sup> <br>| &nbsp;&nbsp; 1098 | &nbsp;&nbsp; — |
| Total |  | &nbsp;&nbsp; 415810 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **1789142** |
| **Consumer Discretionary 0.0%** | **Consumer Discretionary 0.0%** | **Consumer Discretionary 0.0%** |
| **Diversified Consumer Services 0.0%** | **Diversified Consumer Services 0.0%** | **Diversified Consumer Services 0.0%** |
| WW International, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp; 16135 | &nbsp;&nbsp; 326734 |
| **Household Durables 0.0%** | **Household Durables 0.0%** | **Household Durables 0.0%** |
| Serta Simmons Bedding LLC<sup>(c)</sup> <br>| &nbsp;&nbsp; 394 | &nbsp;&nbsp; 3841 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **330575** |
| **Energy 0.1%** | **Energy 0.1%** | **Energy 0.1%** |
| **Oil, Gas & Consumable Fuels 0.1%** | **Oil, Gas & Consumable Fuels 0.1%** | **Oil, Gas & Consumable Fuels 0.1%** |
| New Frontera Holdings<sup>(c),(e)</sup> <br>| &nbsp;&nbsp; 64498 | &nbsp;&nbsp; 935221 |
| Southcross Energy Partners LLC<sup>(c),(d),(e)</sup> <br>| &nbsp;&nbsp; 107918 | &nbsp;&nbsp; 0 |
| Southcross Energy Partners LLC, Class A<sup>(c),(d),(e)</sup> <br>| &nbsp;&nbsp; 2041444 | &nbsp;&nbsp; 2 |
| Total |  | &nbsp;&nbsp; 935223 |
| **Total Energy** | **Total Energy** | &nbsp;&nbsp; **935223** |
| **Financials 0.0%** | **Financials 0.0%** | **Financials 0.0%** |
| **Financial Services 0.0%** | **Financial Services 0.0%** | **Financial Services 0.0%** |
| Bright Bidco BV<sup>(c)</sup> <br>| &nbsp;&nbsp; 4398 | &nbsp;&nbsp; 2529 |
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **2529** |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Health Care 0.1%** | **Health Care 0.1%** | **Health Care 0.1%** |
| **Health Care Providers & Services 0.1%** | **Health Care Providers & Services 0.1%** | **Health Care Providers & Services 0.1%** |
| Envision Healthcare<sup>(c)</sup> <br>| &nbsp;&nbsp; 33311 | &nbsp;&nbsp; 514239 |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **514239** |
| **Industrials 0.0%** | **Industrials 0.0%** | **Industrials 0.0%** |
| **Construction & Engineering 0.0%** | **Construction & Engineering 0.0%** | **Construction & Engineering 0.0%** |
| McDermott International Ltd.<sup>(c),(e)</sup> <br>| &nbsp;&nbsp; 1474 | &nbsp;&nbsp; 31706 |
| **Machinery 0.0%** | **Machinery 0.0%** | **Machinery 0.0%** |
| TNT Crane and Rigging, Inc.<sup>(c)</sup> <br>| &nbsp;&nbsp; 60744 | &nbsp;&nbsp; 39483 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **71189** |
| **Information Technology 0.1%** | **Information Technology 0.1%** | **Information Technology 0.1%** |
| **Communications Equipment 0.0%** | **Communications Equipment 0.0%** | **Communications Equipment 0.0%** |
| Riverbed Technology, Inc.<sup>(c),(e)</sup> <br>| &nbsp;&nbsp; 8710 | &nbsp;&nbsp; 479 |
| **Software 0.1%** | **Software 0.1%** | **Software 0.1%** |
| Avaya Holdings Corp.<sup>(c)</sup> <br>| &nbsp;&nbsp; 6992 | &nbsp;&nbsp; 104705 |
| Avaya Holdings Corp.<sup>(c)</sup> <br>| &nbsp;&nbsp; 33749 | &nbsp;&nbsp; 505392 |
| Total |  | &nbsp;&nbsp; 610097 |
| **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **610576** |
| **Materials 0.0%** | **Materials 0.0%** | **Materials 0.0%** |
| **Containers & Packaging 0.0%** | **Containers & Packaging 0.0%** | **Containers & Packaging 0.0%** |
| Flint Group Packaging<sup>(c),(d),(e)</sup> <br>| &nbsp;&nbsp; 1684573 | &nbsp;&nbsp; 2 |
| **Total Materials** | **Total Materials** | &nbsp;&nbsp; **2** |
| Total Common Stocks <br>(Cost $5,052,039) | Total Common Stocks <br>(Cost $5,052,039) | &nbsp;&nbsp; **4253475** |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Preferred Stocks 0.2%** | **Convertible Preferred Stocks 0.2%** | **Convertible Preferred Stocks 0.2%** | **Convertible Preferred Stocks 0.2%** |
| **Issuer** |  | **Shares** | **Value ($)** |
| **Communication Services 0.2%** | **Communication Services 0.2%** | **Communication Services 0.2%** | **Communication Services 0.2%** |
| **Diversified Telecommunication Services 0.2%** | **Diversified Telecommunication Services 0.2%** | **Diversified Telecommunication Services 0.2%** | **Diversified Telecommunication Services 0.2%** |
| Uniti Group, Inc.<sup>(d),(e),(f)</sup> <br>| &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 1053 | &nbsp;&nbsp; 1053000 |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **1053000** |
| **Information Technology —%** | **Information Technology —%** | **Information Technology —%** | **Information Technology —%** |
| **Communications Equipment —%** | **Communications Equipment —%** | **Communications Equipment —%** | **Communications Equipment —%** |
| Riverbed Technology, Inc.<sup>(d),(e)</sup> <br>| &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 9297 | &nbsp;&nbsp; 0 |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **0** |
| Total Convertible Preferred Stocks <br>(Cost $1,254,434) | Total Convertible Preferred Stocks <br>(Cost $1,254,434) | Total Convertible Preferred Stocks <br>(Cost $1,254,434) | &nbsp;&nbsp; **1053000** |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes 1.3%** | **Corporate Bonds & Notes 1.3%** | **Corporate Bonds & Notes 1.3%** | **Corporate Bonds & Notes 1.3%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Automotive 0.2%** | **Automotive 0.2%** | **Automotive 0.2%** | **Automotive 0.2%** |
| IHO Verwaltungs GmbH<sup>(a),(g)</sup>  | IHO Verwaltungs GmbH<sup>(a),(g)</sup>  | IHO Verwaltungs GmbH<sup>(a),(g)</sup>  | IHO Verwaltungs GmbH<sup>(a),(g)</sup>  |
| 05/15/2029 | &nbsp;&nbsp; 6.375% | 1500000 | &nbsp;&nbsp; 1518125 |
| **Chemicals 0.3%** | **Chemicals 0.3%** | **Chemicals 0.3%** | **Chemicals 0.3%** |
| 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% | 1000000 | &nbsp;&nbsp; 968871 |
| 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>  |
| 08/15/2029 | &nbsp;&nbsp; 5.625% | 1000000 | &nbsp;&nbsp; 956431 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1925302** |
| **Finance Companies 0.6%** | **Finance Companies 0.6%** | **Finance Companies 0.6%** | **Finance Companies 0.6%** |
| OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
| 09/15/2030 | &nbsp;&nbsp; 4.000% | 1500000 | &nbsp;&nbsp; 1407222 |
| 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% | 1500000 | &nbsp;&nbsp; 1572910 |
| 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>  |
| 04/15/2029 | &nbsp;&nbsp; 5.500% | 1250000 | &nbsp;&nbsp; 1235211 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **4215343** |
| **Independent Energy 0.2%** | **Independent Energy 0.2%** | **Independent Energy 0.2%** | **Independent Energy 0.2%** |
| 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% | 1500000 | &nbsp;&nbsp; 1517132 |
| Total Corporate Bonds & Notes <br>(Cost $8,839,547) | Total Corporate Bonds & Notes <br>(Cost $8,839,547) | Total Corporate Bonds & Notes <br>(Cost $8,839,547) | &nbsp;&nbsp; **9175902** |

---

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

---

| | | |
|:---|:---|:---|
| **Exchange-Traded Fixed Income Funds 1.1%** | **Exchange-Traded Fixed Income Funds 1.1%** | **Exchange-Traded Fixed Income Funds 1.1%** |
|  | **Shares** | **Value ($)** |
| **Floating Rate 1.1%** | **Floating Rate 1.1%** | **Floating Rate 1.1%** |
| Invesco Senior Loan ETF | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 3940600 |
| State Street SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 3891200 |
| **Total** | **Total** | &nbsp;&nbsp; **7831800** |
| Total Exchange-Traded Fixed Income Funds <br>(Cost $7,984,750) | Total Exchange-Traded Fixed Income Funds <br>(Cost $7,984,750) | &nbsp;&nbsp; **7831800** |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans 91.7%** | **Senior Loans 91.7%** | **Senior Loans 91.7%** | **Senior Loans 91.7%** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Aerospace & Defense 1.1%** | **Aerospace & Defense 1.1%** | **Aerospace & Defense 1.1%** | **Aerospace & Defense 1.1%** |
| Bleriot US Bidco, Inc.<sup>(b),(h)</sup>  | Bleriot US Bidco, Inc.<sup>(b),(h)</sup>  | Bleriot US Bidco, Inc.<sup>(b),(h)</sup>  | Bleriot US Bidco, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.500% <br>10/31/2030<br>| &nbsp;&nbsp; 6.172% | 740625 | &nbsp;&nbsp; 739966 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Goat Holdco LLC<sup>(b),(h)</sup>  | Goat Holdco LLC<sup>(b),(h)</sup>  | Goat Holdco LLC<sup>(b),(h)</sup>  | Goat Holdco LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>01/27/2032<br>| &nbsp;&nbsp; 6.172% | 1993627 | &nbsp;&nbsp; 1991853 |
| Karman Holdings, Inc.<sup>(b),(h)</sup>  | Karman Holdings, Inc.<sup>(b),(h)</sup>  | Karman Holdings, Inc.<sup>(b),(h)</sup>  | Karman Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>04/01/2032<br>| &nbsp;&nbsp; 7.172% | 525959 | &nbsp;&nbsp; 526948 |
| Karman Holdings, Inc.<sup>(b),(h),(i)</sup>  | Karman Holdings, Inc.<sup>(b),(h),(i)</sup>  | Karman Holdings, Inc.<sup>(b),(h),(i)</sup>  | Karman Holdings, Inc.<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.750% <br>04/01/2032<br>|  | 192702 | &nbsp;&nbsp; 193908 |
| TransDigm, Inc.<sup>(b),(h)</sup>  | TransDigm, Inc.<sup>(b),(h)</sup>  | TransDigm, Inc.<sup>(b),(h)</sup>  | TransDigm, Inc.<sup>(b),(h)</sup>  |
| Tranche J Term Loan | Tranche J Term Loan | Tranche J Term Loan | Tranche J Term Loan |
| 1-month Term SOFR + 2.500% <br>02/28/2031<br>| &nbsp;&nbsp; 6.172% | 3093979 | &nbsp;&nbsp; 3091937 |
| Tranche M Term Loan | Tranche M Term Loan | Tranche M Term Loan | Tranche M Term Loan |
| 1-month Term SOFR + 2.500% <br>08/19/2032<br>| &nbsp;&nbsp; 6.172% | 779291 | &nbsp;&nbsp; 778613 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7323225** |
| **Airlines 0.7%** | **Airlines 0.7%** | **Airlines 0.7%** | **Airlines 0.7%** |
| AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(b),(h)</sup>  | AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(b),(h)</sup>  | AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(b),(h)</sup>  | AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>04/20/2028<br>| &nbsp;&nbsp; 5.918% | 2528702 | &nbsp;&nbsp; 2528702 |
| 3-month Term SOFR + 3.250% <br>05/28/2032<br>| &nbsp;&nbsp; 6.918% | 330907 | &nbsp;&nbsp; 331238 |
| American Airlines, Inc.<sup>(b),(h)</sup>  | American Airlines, Inc.<sup>(b),(h)</sup>  | American Airlines, Inc.<sup>(b),(h)</sup>  | American Airlines, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 2.250% <br>06/04/2029<br>| &nbsp;&nbsp; 6.258% | 2241321 | &nbsp;&nbsp; 2237130 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5097070** |
| **Automotive 0.8%** | **Automotive 0.8%** | **Automotive 0.8%** | **Automotive 0.8%** |
| American Axle & Manufacturing, Inc.<sup>(b),(h)</sup>  | American Axle & Manufacturing, Inc.<sup>(b),(h)</sup>  | American Axle & Manufacturing, Inc.<sup>(b),(h)</sup>  | American Axle & Manufacturing, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 6-month Term SOFR + 3.000% <br>Floor 0.500% <br>12/13/2029<br>| &nbsp;&nbsp; 6.793% | 1316426 | &nbsp;&nbsp; 1317664 |
| Clarios Global LP<sup>(b),(h)</sup>  | Clarios Global LP<sup>(b),(h)</sup>  | Clarios Global LP<sup>(b),(h)</sup>  | Clarios Global LP<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.500% <br>05/06/2030<br>| &nbsp;&nbsp; 6.172% | 3815085 | &nbsp;&nbsp; 3807951 |
| 1-month Term SOFR + 2.750% <br>01/28/2032<br>| &nbsp;&nbsp; 6.422% | 364024 | &nbsp;&nbsp; 364137 |
| First Brands Group LLC<sup>(h),(j)</sup>  | First Brands Group LLC<sup>(h),(j)</sup>  | First Brands Group LLC<sup>(h),(j)</sup>  | First Brands Group LLC<sup>(h),(j)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 03/30/2027 | &nbsp;&nbsp; 9.552% | 578191 | &nbsp;&nbsp; 1544 |
| 03/30/2027 | &nbsp;&nbsp; 9.552% | 1331185 | &nbsp;&nbsp; 3554 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| First Brands Group LLC<sup>(b),(h)</sup>  | First Brands Group LLC<sup>(b),(h)</sup>  | First Brands Group LLC<sup>(b),(h)</sup>  | First Brands Group LLC<sup>(b),(h)</sup>  |
| Debtor in Possession Term Loan | Debtor in Possession Term Loan | Debtor in Possession Term Loan | Debtor in Possession Term Loan |
| 1-month Term SOFR + 8.450% <br>06/29/2026<br>| &nbsp;&nbsp; 5.238% | 762630 | &nbsp;&nbsp; 102955 |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 7.000% <br>06/29/2026<br>| &nbsp;&nbsp; 10.688% | 2190050 | &nbsp;&nbsp; 9592 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5607397** |
| **Brokerage/Asset Managers/Exchanges 3.5%** | **Brokerage/Asset Managers/Exchanges 3.5%** | **Brokerage/Asset Managers/Exchanges 3.5%** | **Brokerage/Asset Managers/Exchanges 3.5%** |
| Aretec Group, Inc.<sup>(b),(h)</sup>  | Aretec Group, Inc.<sup>(b),(h)</sup>  | Aretec Group, Inc.<sup>(b),(h)</sup>  | Aretec Group, Inc.<sup>(b),(h)</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 |
| 1-month Term SOFR + 3.000% <br>08/09/2030<br>| &nbsp;&nbsp; 6.672% | 3332522 | &nbsp;&nbsp; 3314627 |
| Chicago US Midco III LP<sup>(b),(h),(i),(k)</sup>  | Chicago US Midco III LP<sup>(b),(h),(i),(k)</sup>  | Chicago US Midco III LP<sup>(b),(h),(i),(k)</sup>  | Chicago US Midco III LP<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 1.250% <br>10/30/2032<br>| &nbsp;&nbsp; 1.250% | 193296 | &nbsp;&nbsp; 192693 |
| Chicago US Midco III LP<sup>(b),(h)</sup>  | Chicago US Midco III LP<sup>(b),(h)</sup>  | Chicago US Midco III LP<sup>(b),(h)</sup>  | Chicago US Midco III LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>10/30/2032<br>| &nbsp;&nbsp; 6.172% | 1301528 | &nbsp;&nbsp; 1297467 |
| DRW Holdings LLC<sup>(b),(h)</sup>  | DRW Holdings LLC<sup>(b),(h)</sup>  | DRW Holdings LLC<sup>(b),(h)</sup>  | DRW Holdings LLC<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.500% <br>06/26/2031<br>| &nbsp;&nbsp; 7.172% | 1188000 | &nbsp;&nbsp; 1168695 |
| Focus Financial Partners LLC<sup>(b),(h),(i)</sup>  | Focus Financial Partners LLC<sup>(b),(h),(i)</sup>  | Focus Financial Partners LLC<sup>(b),(h),(i)</sup>  | Focus Financial Partners LLC<sup>(b),(h),(i)</sup>  |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 1-month Term SOFR + 2.500% <br>09/15/2031<br>| &nbsp;&nbsp; 6.172% | 2517665 | &nbsp;&nbsp; 2500217 |
| GIH Borrower LLC<sup>(b),(h)</sup>  | GIH Borrower LLC<sup>(b),(h)</sup>  | GIH Borrower LLC<sup>(b),(h)</sup>  | GIH Borrower LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.500% <br>11/26/2031<br>| &nbsp;&nbsp; 6.172% | 2227500 | &nbsp;&nbsp; 2228614 |
| GTCR Everest Borrower LLC<sup>(b),(h)</sup>  | GTCR Everest Borrower LLC<sup>(b),(h)</sup>  | GTCR Everest Borrower LLC<sup>(b),(h)</sup>  | GTCR Everest Borrower LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>09/05/2031<br>| &nbsp;&nbsp; 6.422% | 2475062 | &nbsp;&nbsp; 2470805 |
| Jefferies Finance LLC<sup>(b),(h)</sup>  | Jefferies Finance LLC<sup>(b),(h)</sup>  | Jefferies Finance LLC<sup>(b),(h)</sup>  | Jefferies Finance LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>10/21/2031<br>| &nbsp;&nbsp; 6.430% | 2093326 | &nbsp;&nbsp; 2085476 |
| June Purchaser LLC<sup>(b),(h),(i),(k)</sup>  | June Purchaser LLC<sup>(b),(h),(i),(k)</sup>  | June Purchaser LLC<sup>(b),(h),(i),(k)</sup>  | June Purchaser LLC<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 2.750% <br>11/28/2031<br>| &nbsp;&nbsp; 2.750% | 237910 | &nbsp;&nbsp; 238038 |
| June Purchaser LLC<sup>(b),(h)</sup>  | June Purchaser LLC<sup>(b),(h)</sup>  | June Purchaser LLC<sup>(b),(h)</sup>  | June Purchaser LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>11/28/2031<br>| &nbsp;&nbsp; 6.422% | 1416753 | &nbsp;&nbsp; 1417518 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Osaic Holdings, Inc.<sup>(b),(h)</sup>  | Osaic Holdings, Inc.<sup>(b),(h)</sup>  | Osaic Holdings, Inc.<sup>(b),(h)</sup>  | Osaic Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>07/30/2032<br>| &nbsp;&nbsp; 6.595% | 1851409 | &nbsp;&nbsp; 1834987 |
| PEX Holdings LLC<sup>(b),(h)</sup>  | PEX Holdings LLC<sup>(b),(h)</sup>  | PEX Holdings LLC<sup>(b),(h)</sup>  | PEX Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>11/26/2031<br>| &nbsp;&nbsp; 6.422% | 4054086 | &nbsp;&nbsp; 4047316 |
| VFH Parent LLC<sup>(b),(h)</sup>  | VFH Parent LLC<sup>(b),(h)</sup>  | VFH Parent LLC<sup>(b),(h)</sup>  | VFH Parent LLC<sup>(b),(h)</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; 6.172% | 1793413 | &nbsp;&nbsp; 1788176 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **24584629** |
| **Building Materials 3.7%** | **Building Materials 3.7%** | **Building Materials 3.7%** | **Building Materials 3.7%** |
| Cornerstone Building Brands, Inc.<sup>(b),(h)</sup>  | Cornerstone Building Brands, Inc.<sup>(b),(h)</sup>  | Cornerstone Building Brands, Inc.<sup>(b),(h)</sup>  | Cornerstone Building Brands, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.250% <br>Floor 0.500% <br>04/12/2028<br>| &nbsp;&nbsp; 7.030% | 1795327 | &nbsp;&nbsp; 1380912 |
| 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; 8.180% | 177069 | &nbsp;&nbsp; 120481 |
| DG Investment Intermediate Holdings 2, Inc.<sup>(b),(h)</sup>  | DG Investment Intermediate Holdings 2, Inc.<sup>(b),(h)</sup>  | DG Investment Intermediate Holdings 2, Inc.<sup>(b),(h)</sup>  | DG Investment Intermediate Holdings 2, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.250% <br>07/09/2032<br>| &nbsp;&nbsp; 6.922% | 436612 | &nbsp;&nbsp; 437157 |
| Green Infrastructure Partners, Inc.<sup>(b),(h)</sup>  | Green Infrastructure Partners, Inc.<sup>(b),(h)</sup>  | Green Infrastructure Partners, Inc.<sup>(b),(h)</sup>  | Green Infrastructure Partners, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>09/24/2032<br>| &nbsp;&nbsp; 6.422% | 1980295 | &nbsp;&nbsp; 1979067 |
| Johnstone Supply LLC<sup>(b),(h)</sup>  | Johnstone Supply LLC<sup>(b),(h)</sup>  | Johnstone Supply LLC<sup>(b),(h)</sup>  | Johnstone Supply LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>06/09/2031<br>| &nbsp;&nbsp; 6.177% | 2949901 | &nbsp;&nbsp; 2947866 |
| Kodiak BP LLC<sup>(b),(h)</sup>  | Kodiak BP LLC<sup>(b),(h)</sup>  | Kodiak BP LLC<sup>(b),(h)</sup>  | Kodiak BP LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.750% <br>12/04/2031<br>| &nbsp;&nbsp; 7.422% | 3047882 | &nbsp;&nbsp; 2991130 |
| LBM Acquisition LLC<sup>(b),(h)</sup>  | LBM Acquisition LLC<sup>(b),(h)</sup>  | LBM Acquisition LLC<sup>(b),(h)</sup>  | LBM Acquisition LLC<sup>(b),(h)</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; 7.521% | 1874303 | &nbsp;&nbsp; 1800418 |
| 1-month Term SOFR + 5.000% <br>06/06/2031<br>| &nbsp;&nbsp; 8.671% | 1066783 | &nbsp;&nbsp; 1065151 |
| Madison Safety & Flow LLC<sup>(b),(h)</sup>  | Madison Safety & Flow LLC<sup>(b),(h)</sup>  | Madison Safety & Flow LLC<sup>(b),(h)</sup>  | Madison Safety & Flow LLC<sup>(b),(h)</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 + 2.500% <br>09/26/2031<br>| &nbsp;&nbsp; 6.174% | 649038 | &nbsp;&nbsp; 650012 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Park River Holdings, Inc.<sup>(b),(h)</sup>  | Park River Holdings, Inc.<sup>(b),(h)</sup>  | Park River Holdings, Inc.<sup>(b),(h)</sup>  | Park River Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.500% <br>03/15/2031<br>| &nbsp;&nbsp; 8.161% | 787195 | &nbsp;&nbsp; 785967 |
| Quikrete Holdings, Inc.<sup>(b),(h)</sup>  | Quikrete Holdings, Inc.<sup>(b),(h)</sup>  | Quikrete Holdings, Inc.<sup>(b),(h)</sup>  | Quikrete Holdings, Inc.<sup>(b),(h)</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; 5.922% | 1905449 | &nbsp;&nbsp; 1905449 |
| Tranche B2 1st Lien Term Loan | Tranche B2 1st Lien Term Loan | Tranche B2 1st Lien Term Loan | Tranche B2 1st Lien Term Loan |
| 1-month Term SOFR + 2.250% <br>03/19/2029<br>| &nbsp;&nbsp; 5.922% | 1472594 | &nbsp;&nbsp; 1473434 |
| 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; 5.922% | 1085204 | &nbsp;&nbsp; 1084390 |
| Smyrna Ready Mix Concrete LLC<sup>(b),(h)</sup>  | Smyrna Ready Mix Concrete LLC<sup>(b),(h)</sup>  | Smyrna Ready Mix Concrete LLC<sup>(b),(h)</sup>  | Smyrna Ready Mix Concrete LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>04/02/2029<br>| &nbsp;&nbsp; 6.672% | 1767401 | &nbsp;&nbsp; 1764095 |
| Specialty Building Products Holdings LLC<sup>(b),(h)</sup>  | Specialty Building Products Holdings LLC<sup>(b),(h)</sup>  | Specialty Building Products Holdings LLC<sup>(b),(h)</sup>  | Specialty Building Products Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.750% <br>Floor 0.500% <br>10/16/2028<br>| &nbsp;&nbsp; 7.522% | 989675 | &nbsp;&nbsp; 937143 |
| White Cap Supply Holdings LLC<sup>(b),(h)</sup>  | White Cap Supply Holdings LLC<sup>(b),(h)</sup>  | White Cap Supply Holdings LLC<sup>(b),(h)</sup>  | White Cap Supply Holdings LLC<sup>(b),(h)</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; 6.922% | 4212758 | &nbsp;&nbsp; 4199615 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **25522287** |
| **Cable and Satellite 1.4%** | **Cable and Satellite 1.4%** | **Cable and Satellite 1.4%** | **Cable and Satellite 1.4%** |
| Iridium Communications, Inc.<sup>(b),(h)</sup>  | Iridium Communications, Inc.<sup>(b),(h)</sup>  | Iridium Communications, Inc.<sup>(b),(h)</sup>  | Iridium Communications, Inc.<sup>(b),(h)</sup>  |
| Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan |
| 1-month Term SOFR + 2.250% <br>Floor 0.750% <br>09/20/2030<br>| &nbsp;&nbsp; 5.922% | 1125151 | &nbsp;&nbsp; 1062469 |
| Sunrise Financing Partnership<sup>(b),(h)</sup>  | Sunrise Financing Partnership<sup>(b),(h)</sup>  | Sunrise Financing Partnership<sup>(b),(h)</sup>  | Sunrise Financing Partnership<sup>(b),(h)</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; 6.129% | 3265518 | &nbsp;&nbsp; 3253599 |
| Telesat Canada<sup>(b),(h)</sup>  | Telesat Canada<sup>(b),(h)</sup>  | Telesat Canada<sup>(b),(h)</sup>  | Telesat Canada<sup>(b),(h)</sup>  |
| Tranche B5 Term Loan | Tranche B5 Term Loan | Tranche B5 Term Loan | Tranche B5 Term Loan |
| 3-month Term SOFR + 2.750% <br>12/07/2026<br>| &nbsp;&nbsp; 6.834% | 4156123 | &nbsp;&nbsp; 3284833 |
| Virgin Media Bristol LLC<sup>(b),(h)</sup>  | Virgin Media Bristol LLC<sup>(b),(h)</sup>  | Virgin Media Bristol LLC<sup>(b),(h)</sup>  | Virgin Media Bristol LLC<sup>(b),(h)</sup>  |
| Tranche Q Term Loan | Tranche Q Term Loan | Tranche Q Term Loan | Tranche Q Term Loan |
| 1-month Term SOFR + 3.250% <br>01/31/2029<br>| &nbsp;&nbsp; 7.045% | 1975000 | &nbsp;&nbsp; 1970438 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9571339** |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Chemicals 3.9%** | **Chemicals 3.9%** | **Chemicals 3.9%** | **Chemicals 3.9%** |
| A-AP Buyer, Inc.<sup>(b),(e),(h)</sup>  | A-AP Buyer, Inc.<sup>(b),(e),(h)</sup>  | A-AP Buyer, Inc.<sup>(b),(e),(h)</sup>  | A-AP Buyer, Inc.<sup>(b),(e),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>09/09/2031<br>| &nbsp;&nbsp; 6.417% | 1180151 | &nbsp;&nbsp; 1181626 |
| Chemours Co. (The)<sup>(b),(h)</sup>  | Chemours Co. (The)<sup>(b),(h)</sup>  | Chemours Co. (The)<sup>(b),(h)</sup>  | Chemours Co. (The)<sup>(b),(h)</sup>  |
| Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan |
| 1-month Term SOFR + 3.500% <br>10/15/2032<br>| &nbsp;&nbsp; 7.172% | 2684238 | &nbsp;&nbsp; 2664106 |
| Ineos Quattro Holdings UK Ltd.<sup>(b),(h)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(b),(h)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(b),(h)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(b),(h)</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; 8.022% | 1107923 | &nbsp;&nbsp; 765387 |
| Ineos US Finance LLC<sup>(b),(h)</sup>  | Ineos US Finance LLC<sup>(b),(h)</sup>  | Ineos US Finance LLC<sup>(b),(h)</sup>  | Ineos US Finance LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>02/19/2030<br>| &nbsp;&nbsp; 6.922% | 1477528 | &nbsp;&nbsp; 1063820 |
| 1-month Term SOFR + 3.000% <br>02/07/2031<br>| &nbsp;&nbsp; 6.672% | 2015597 | &nbsp;&nbsp; 1404206 |
| Innophos Holdings, Inc.<sup>(b),(h)</sup>  | Innophos Holdings, Inc.<sup>(b),(h)</sup>  | Innophos Holdings, Inc.<sup>(b),(h)</sup>  | Innophos Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.250% <br>03/16/2029<br>| &nbsp;&nbsp; 8.036% | 2617056 | &nbsp;&nbsp; 2550321 |
| Lummus Technology Holdings V LLC<sup>(b),(h)</sup>  | Lummus Technology Holdings V LLC<sup>(b),(h)</sup>  | Lummus Technology Holdings V LLC<sup>(b),(h)</sup>  | Lummus Technology Holdings V LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>12/31/2029<br>| &nbsp;&nbsp; 6.172% | 4221566 | &nbsp;&nbsp; 4223550 |
| Olympus Water US Holding<sup>(b),(h)</sup>  | Olympus Water US Holding<sup>(b),(h)</sup>  | Olympus Water US Holding<sup>(b),(h)</sup>  | Olympus Water US Holding<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>11/03/2032<br>| &nbsp;&nbsp; 6.922% | 642493 | &nbsp;&nbsp; 631519 |
| Olympus Water US Holding Corp.<sup>(b),(h)</sup>  | Olympus Water US Holding Corp.<sup>(b),(h)</sup>  | Olympus Water US Holding Corp.<sup>(b),(h)</sup>  | Olympus Water US Holding Corp.<sup>(b),(h)</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; 6.672% | 2295202 | &nbsp;&nbsp; 2259626 |
| Rockpoint Gas Storage Partners LP<sup>(b),(h)</sup>  | Rockpoint Gas Storage Partners LP<sup>(b),(h)</sup>  | Rockpoint Gas Storage Partners LP<sup>(b),(h)</sup>  | Rockpoint Gas Storage Partners LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.500% <br>09/18/2031<br>| &nbsp;&nbsp; 6.172% | 2224193 | &nbsp;&nbsp; 2225928 |
| Tronox Finance LLC<sup>(b),(h)</sup>  | Tronox Finance LLC<sup>(b),(h)</sup>  | Tronox Finance LLC<sup>(b),(h)</sup>  | Tronox Finance LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.500% <br>09/30/2031<br>| &nbsp;&nbsp; 6.172% | 1985611 | &nbsp;&nbsp; 1603937 |
| USALCO LLC<sup>(b),(h),(i),(k)</sup>  | USALCO LLC<sup>(b),(h),(i),(k)</sup>  | USALCO LLC<sup>(b),(h),(i),(k)</sup>  | USALCO LLC<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 1.000% <br>09/30/2031<br>| &nbsp;&nbsp; 1.000% | 143822 | &nbsp;&nbsp; 143418 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| USALCO LLC<sup>(b),(h)</sup>  | USALCO LLC<sup>(b),(h)</sup>  | USALCO LLC<sup>(b),(h)</sup>  | USALCO LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.500% <br>09/30/2031<br>| &nbsp;&nbsp; 7.172% | 1381994 | &nbsp;&nbsp; 1378111 |
| W. R. Grace Holdings LLC<sup>(b),(h)</sup>  | W. R. Grace Holdings LLC<sup>(b),(h)</sup>  | W. R. Grace Holdings LLC<sup>(b),(h)</sup>  | W. R. Grace Holdings LLC<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 3.000% <br>08/19/2032<br>| &nbsp;&nbsp; 6.689% | 920888 | &nbsp;&nbsp; 916670 |
| Windsor Holdings III LLC<sup>(b),(h)</sup>  | Windsor Holdings III LLC<sup>(b),(h)</sup>  | Windsor Holdings III LLC<sup>(b),(h)</sup>  | Windsor Holdings III LLC<sup>(b),(h)</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; 6.422% | 3847926 | &nbsp;&nbsp; 3855160 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **26867385** |
| **Construction Machinery 0.1%** | **Construction Machinery 0.1%** | **Construction Machinery 0.1%** | **Construction Machinery 0.1%** |
| Engineered Machinery Holdings, Inc.<sup>(b),(h)</sup>  | Engineered Machinery Holdings, Inc.<sup>(b),(h)</sup>  | Engineered Machinery Holdings, Inc.<sup>(b),(h)</sup>  | Engineered Machinery Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>11/26/2032<br>| &nbsp;&nbsp; 6.922% | 600353 | &nbsp;&nbsp; 602280 |
| **Consumer Cyclical Services 4.7%** | **Consumer Cyclical Services 4.7%** | **Consumer Cyclical Services 4.7%** | **Consumer Cyclical Services 4.7%** |
| Allied Universal Holdco LLC<sup>(b),(h)</sup>  | Allied Universal Holdco LLC<sup>(b),(h)</sup>  | Allied Universal Holdco LLC<sup>(b),(h)</sup>  | Allied Universal Holdco LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>08/20/2032<br>| &nbsp;&nbsp; 6.922% | 2720652 | &nbsp;&nbsp; 2723318 |
| AmSpec Parent LLC<sup>(b),(h)</sup>  | AmSpec Parent LLC<sup>(b),(h)</sup>  | AmSpec Parent LLC<sup>(b),(h)</sup>  | AmSpec Parent LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>12/22/2031<br>| &nbsp;&nbsp; 7.172% | 1857707 | &nbsp;&nbsp; 1854604 |
| Arches Buyer, Inc.<sup>(b),(h)</sup>  | Arches Buyer, Inc.<sup>(b),(h)</sup>  | Arches Buyer, Inc.<sup>(b),(h)</sup>  | Arches Buyer, Inc.<sup>(b),(h)</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; 7.022% | 2774018 | &nbsp;&nbsp; 2760648 |
| Conservice Midco LLC<sup>(b),(h)</sup>  | Conservice Midco LLC<sup>(b),(h)</sup>  | Conservice Midco LLC<sup>(b),(h)</sup>  | Conservice Midco LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>05/13/2030<br>| &nbsp;&nbsp; 6.422% | 3734150 | &nbsp;&nbsp; 3730267 |
| Corporation Service Co.<sup>(b),(h)</sup>  | Corporation Service Co.<sup>(b),(h)</sup>  | Corporation Service Co.<sup>(b),(h)</sup>  | Corporation Service Co.<sup>(b),(h)</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; 5.672% | 2299729 | &nbsp;&nbsp; 2280319 |
| Cushman & Wakefield US Borrower LLC<sup>(b),(h)</sup>  | Cushman & Wakefield US Borrower LLC<sup>(b),(h)</sup>  | Cushman & Wakefield US Borrower LLC<sup>(b),(h)</sup>  | Cushman & Wakefield US Borrower LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>01/31/2030<br>| &nbsp;&nbsp; 6.422% | 1666019 | &nbsp;&nbsp; 1675399 |
| Ensemble RCM LLC<sup>(b),(h)</sup>  | Ensemble RCM LLC<sup>(b),(h)</sup>  | Ensemble RCM LLC<sup>(b),(h)</sup>  | Ensemble RCM LLC<sup>(b),(h)</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; 6.667% | 1670404 | &nbsp;&nbsp; 1654752 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Fleet Midco I Ltd.<sup>(b),(e),(h)</sup>  | Fleet Midco I Ltd.<sup>(b),(e),(h)</sup>  | Fleet Midco I Ltd.<sup>(b),(e),(h)</sup>  | Fleet Midco I Ltd.<sup>(b),(e),(h)</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; 6.792% | 2434726 | &nbsp;&nbsp; 2437769 |
| GBT US III LLC<sup>(b),(h)</sup>  | GBT US III LLC<sup>(b),(h)</sup>  | GBT US III LLC<sup>(b),(h)</sup>  | GBT US III LLC<sup>(b),(h)</sup>  |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 3-month Term SOFR + 2.000% <br>07/28/2031<br>| &nbsp;&nbsp; 5.668% | 1980000 | &nbsp;&nbsp; 1969942 |
| OMNIA Partners LLC<sup>(b),(h)</sup>  | OMNIA Partners LLC<sup>(b),(h)</sup>  | OMNIA Partners LLC<sup>(b),(h)</sup>  | OMNIA Partners LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.750% <br>12/31/2032<br>| &nbsp;&nbsp; 6.455% | 1975050 | &nbsp;&nbsp; 1975307 |
| Prime Security Services Borrower LLC<sup>(b),(h)</sup>  | Prime Security Services Borrower LLC<sup>(b),(h)</sup>  | Prime Security Services Borrower LLC<sup>(b),(h)</sup>  | Prime Security Services Borrower LLC<sup>(b),(h)</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; 5.688% | 1309878 | &nbsp;&nbsp; 1306328 |
| Raven Acquisition Holdings LLC<sup>(b),(h),(i),(k)</sup>  | Raven Acquisition Holdings LLC<sup>(b),(h),(i),(k)</sup>  | Raven Acquisition Holdings LLC<sup>(b),(h),(i),(k)</sup>  | Raven Acquisition Holdings LLC<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 3.000% <br>11/19/2031<br>| &nbsp;&nbsp; 3.000% | 254922 | &nbsp;&nbsp; 252118 |
| Raven Acquisition Holdings LLC<sup>(b),(h)</sup>  | Raven Acquisition Holdings LLC<sup>(b),(h)</sup>  | Raven Acquisition Holdings LLC<sup>(b),(h)</sup>  | Raven Acquisition Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>11/19/2031<br>| &nbsp;&nbsp; 6.672% | 3542135 | &nbsp;&nbsp; 3503171 |
| Rosen International SARL<sup>(b),(h)</sup>  | Rosen International SARL<sup>(b),(h)</sup>  | Rosen International SARL<sup>(b),(h)</sup>  | Rosen International SARL<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>03/26/2031<br>| &nbsp;&nbsp; 5.922% | 2968002 | &nbsp;&nbsp; 2965895 |
| WW International, Inc.<sup>(b),(h)</sup>  | WW International, Inc.<sup>(b),(h)</sup>  | WW International, Inc.<sup>(b),(h)</sup>  | WW International, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 6.800% <br>06/24/2030<br>| &nbsp;&nbsp; 10.489% | 1424461 | &nbsp;&nbsp; 1254864 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **32344701** |
| **Consumer Products 1.8%** | **Consumer Products 1.8%** | **Consumer Products 1.8%** | **Consumer Products 1.8%** |
| Bombardier Recreational Products, Inc.<sup>(b),(h)</sup>  | Bombardier Recreational Products, Inc.<sup>(b),(h)</sup>  | Bombardier Recreational Products, Inc.<sup>(b),(h)</sup>  | Bombardier Recreational Products, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>Floor 0.500% <br>12/13/2029<br>| &nbsp;&nbsp; 5.922% | 2873037 | &nbsp;&nbsp; 2879875 |
| 1-month Term SOFR + 2.250% <br>01/22/2031<br>| &nbsp;&nbsp; 5.922% | 970029 | &nbsp;&nbsp; 971135 |
| Osmosis Buyer Ltd.<sup>(b),(h)</sup>  | Osmosis Buyer Ltd.<sup>(b),(h)</sup>  | Osmosis Buyer Ltd.<sup>(b),(h)</sup>  | Osmosis Buyer Ltd.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>07/31/2028<br>| &nbsp;&nbsp; 6.773% | 2958656 | &nbsp;&nbsp; 2957975 |
| Recess Holdings, Inc.<sup>(b),(h)</sup>  | Recess Holdings, Inc.<sup>(b),(h)</sup>  | Recess Holdings, Inc.<sup>(b),(h)</sup>  | Recess Holdings, Inc.<sup>(b),(h)</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; 7.418% | 1980662 | &nbsp;&nbsp; 1986228 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| SRAM LLC<sup>(b),(h)</sup>  | SRAM LLC<sup>(b),(h)</sup>  | SRAM LLC<sup>(b),(h)</sup>  | SRAM LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 2.250% <br>02/27/2032<br>| &nbsp;&nbsp; 5.926% | 2735732 | &nbsp;&nbsp; 2735732 |
| SWF Holdings I Corp.<sup>(b),(h)</sup>  | SWF Holdings I Corp.<sup>(b),(h)</sup>  | SWF Holdings I Corp.<sup>(b),(h)</sup>  | SWF Holdings I Corp.<sup>(b),(h)</sup>  |
| Tranche A2 Term Loan | Tranche A2 Term Loan | Tranche A2 Term Loan | Tranche A2 Term Loan |
| 1-month Term SOFR + 4.000% <br>Floor 0.750% <br>10/06/2028<br>| &nbsp;&nbsp; 7.786% | 1132522 | &nbsp;&nbsp; 781440 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **12312385** |
| **Diversified Manufacturing 3.9%** | **Diversified Manufacturing 3.9%** | **Diversified Manufacturing 3.9%** | **Diversified Manufacturing 3.9%** |
| Columbus McKinnon Corp.<sup>(b),(h),(i)</sup>  | Columbus McKinnon Corp.<sup>(b),(h),(i)</sup>  | Columbus McKinnon Corp.<sup>(b),(h),(i)</sup>  | Columbus McKinnon Corp.<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>01/21/2033<br>|  | 2408880 | &nbsp;&nbsp; 2390814 |
| CompoSecure Holdings LLC<sup>(b),(h)</sup>  | CompoSecure Holdings LLC<sup>(b),(h)</sup>  | CompoSecure Holdings LLC<sup>(b),(h)</sup>  | CompoSecure Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>01/14/2033<br>| &nbsp;&nbsp; 5.928% | 592784 | &nbsp;&nbsp; 590935 |
| EMRLD Borrower LP<sup>(b),(h)</sup>  | EMRLD Borrower LP<sup>(b),(h)</sup>  | EMRLD Borrower LP<sup>(b),(h)</sup>  | EMRLD Borrower LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>05/31/2030<br>| &nbsp;&nbsp; 6.072% | 2467823 | &nbsp;&nbsp; 2463850 |
| 6-month Term SOFR + 2.250% <br>08/04/2031<br>| &nbsp;&nbsp; 6.122% | 594550 | &nbsp;&nbsp; 593438 |
| Filtration Group Corp.<sup>(b),(h)</sup>  | Filtration Group Corp.<sup>(b),(h)</sup>  | Filtration Group Corp.<sup>(b),(h)</sup>  | Filtration Group Corp.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.750% <br>10/21/2028<br>| &nbsp;&nbsp; 6.422% | 1323977 | &nbsp;&nbsp; 1324811 |
| Gates Corp.<sup>(b),(h)</sup>  | Gates Corp.<sup>(b),(h)</sup>  | Gates Corp.<sup>(b),(h)</sup>  | Gates Corp.<sup>(b),(h)</sup>  |
| Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan |
| 1-month Term SOFR + 1.750% <br>Floor 0.500% <br>11/16/2029<br>| &nbsp;&nbsp; 5.422% | 799584 | &nbsp;&nbsp; 800048 |
| Hobbs & Associates LLC<sup>(b),(h)</sup>  | Hobbs & Associates LLC<sup>(b),(h)</sup>  | Hobbs & Associates LLC<sup>(b),(h)</sup>  | Hobbs & Associates LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>07/23/2031<br>| &nbsp;&nbsp; 6.422% | 1492161 | &nbsp;&nbsp; 1492787 |
| Madison IAQ LLC<sup>(b),(h)</sup>  | Madison IAQ LLC<sup>(b),(h)</sup>  | Madison IAQ LLC<sup>(b),(h)</sup>  | Madison IAQ LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 6-month Term SOFR + 2.500% <br>06/21/2028<br>| &nbsp;&nbsp; 6.128% | 3594487 | &nbsp;&nbsp; 3592258 |
| 6-month Term SOFR + 2.750% <br>11/08/2032<br>| &nbsp;&nbsp; 6.378% | 670584 | &nbsp;&nbsp; 671214 |
| Resilience Parent LLC<sup>(b),(h),(i)</sup>  | Resilience Parent LLC<sup>(b),(h),(i)</sup>  | Resilience Parent LLC<sup>(b),(h),(i)</sup>  | Resilience Parent LLC<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.500% <br>01/21/2033<br>|  | 1305006 | &nbsp;&nbsp; 1303374 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Tiger Acquisition LLC<sup>(b),(h)</sup>  | Tiger Acquisition LLC<sup>(b),(h)</sup>  | Tiger Acquisition LLC<sup>(b),(h)</sup>  | Tiger Acquisition LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>08/23/2032<br>| &nbsp;&nbsp; 6.173% | 2130596 | &nbsp;&nbsp; 2124822 |
| TK Elevator Midco GmbH<sup>(b),(h)</sup>  | TK Elevator Midco GmbH<sup>(b),(h)</sup>  | TK Elevator Midco GmbH<sup>(b),(h)</sup>  | TK Elevator Midco GmbH<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 6-month Term SOFR + 2.750% <br>04/30/2030<br>| &nbsp;&nbsp; 6.377% | 4557111 | &nbsp;&nbsp; 4564858 |
| Vertiv Group Corp.<sup>(b),(h)</sup>  | Vertiv Group Corp.<sup>(b),(h)</sup>  | Vertiv Group Corp.<sup>(b),(h)</sup>  | Vertiv Group Corp.<sup>(b),(h)</sup>  |
| Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan |
| 1-month Term SOFR + 1.750% <br>08/12/2032<br>| &nbsp;&nbsp; 5.450% | 1846066 | &nbsp;&nbsp; 1850460 |
| WEC US Holdings, Inc.<sup>(b),(h)</sup>  | WEC US Holdings, Inc.<sup>(b),(h)</sup>  | WEC US Holdings, Inc.<sup>(b),(h)</sup>  | WEC US Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>01/27/2031<br>| &nbsp;&nbsp; 5.700% | 3049009 | &nbsp;&nbsp; 3044161 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **26807830** |
| **Electric 3.6%** | **Electric 3.6%** | **Electric 3.6%** | **Electric 3.6%** |
| Astoria Project Partners LLC/Energy LLC<sup>(b),(h)</sup>  | Astoria Project Partners LLC/Energy LLC<sup>(b),(h)</sup>  | Astoria Project Partners LLC/Energy LLC<sup>(b),(h)</sup>  | Astoria Project Partners LLC/Energy LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.250% <br>06/23/2032<br>| &nbsp;&nbsp; 6.422% | 750607 | &nbsp;&nbsp; 751778 |
| Bayonne Energy Center LLC<sup>(b),(h)</sup>  | Bayonne Energy Center LLC<sup>(b),(h)</sup>  | Bayonne Energy Center LLC<sup>(b),(h)</sup>  | Bayonne Energy Center LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>10/01/2032<br>| &nbsp;&nbsp; 6.672% | 1696158 | &nbsp;&nbsp; 1699686 |
| Carroll County Energy LLC<sup>(b),(h)</sup>  | Carroll County Energy LLC<sup>(b),(h)</sup>  | Carroll County Energy LLC<sup>(b),(h)</sup>  | Carroll County Energy LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>06/30/2031<br>| &nbsp;&nbsp; 6.422% | 2540173 | &nbsp;&nbsp; 2554779 |
| Compass Power Generation LLC<sup>(b),(h)</sup>  | Compass Power Generation LLC<sup>(b),(h)</sup>  | Compass Power Generation LLC<sup>(b),(h)</sup>  | Compass Power Generation LLC<sup>(b),(h)</sup>  |
| Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan |
| 1-month Term SOFR + 3.250% <br>04/14/2029<br>| &nbsp;&nbsp; 6.922% | 861670 | &nbsp;&nbsp; 865332 |
| Constellation Renewables LLC<sup>(b),(h)</sup>  | Constellation Renewables LLC<sup>(b),(h)</sup>  | Constellation Renewables LLC<sup>(b),(h)</sup>  | Constellation Renewables LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.000% <br>Floor 1.000% <br>12/15/2027<br>| &nbsp;&nbsp; 5.822% | 1893829 | &nbsp;&nbsp; 1894415 |
| Cornerstone Generation LLC<sup>(b),(h)</sup>  | Cornerstone Generation LLC<sup>(b),(h)</sup>  | Cornerstone Generation LLC<sup>(b),(h)</sup>  | Cornerstone Generation LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>08/11/2032<br>| &nbsp;&nbsp; 6.917% | 1722990 | &nbsp;&nbsp; 1734482 |
| CPV Fairview LLC<sup>(b),(h)</sup>  | CPV Fairview LLC<sup>(b),(h)</sup>  | CPV Fairview LLC<sup>(b),(h)</sup>  | CPV Fairview LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.500% <br>08/14/2031<br>| &nbsp;&nbsp; 6.172% | 460255 | &nbsp;&nbsp; 459910 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| EFS Cogen Holdings I LLC<sup>(b),(h)</sup>  | EFS Cogen Holdings I LLC<sup>(b),(h)</sup>  | EFS Cogen Holdings I LLC<sup>(b),(h)</sup>  | EFS Cogen Holdings I LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>10/03/2031<br>| &nbsp;&nbsp; 6.672% | 3036346 | &nbsp;&nbsp; 3033097 |
| Hamilton Projects Acquiror LLC<sup>(b),(h)</sup>  | Hamilton Projects Acquiror LLC<sup>(b),(h)</sup>  | Hamilton Projects Acquiror LLC<sup>(b),(h)</sup>  | Hamilton Projects Acquiror LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>05/30/2031<br>| &nbsp;&nbsp; 6.172% | 2634865 | &nbsp;&nbsp; 2644272 |
| Invenergy Thermal Operating I LLC<sup>(b),(h)</sup>  | Invenergy Thermal Operating I LLC<sup>(b),(h)</sup>  | Invenergy Thermal Operating I LLC<sup>(b),(h)</sup>  | Invenergy Thermal Operating I LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.750% <br>05/17/2032<br>| &nbsp;&nbsp; 6.410% | 1061368 | &nbsp;&nbsp; 1071982 |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 3-month Term SOFR + 2.750% <br>05/17/2032<br>| &nbsp;&nbsp; 6.410% | 66976 | &nbsp;&nbsp; 67646 |
| Lackawanna Energy Center LLC<sup>(b),(h)</sup>  | Lackawanna Energy Center LLC<sup>(b),(h)</sup>  | Lackawanna Energy Center LLC<sup>(b),(h)</sup>  | Lackawanna Energy Center LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>08/05/2032<br>| &nbsp;&nbsp; 6.675% | 634530 | &nbsp;&nbsp; 637544 |
| New Frontera Holdings LLC<sup>(b),(h)</sup>  | New Frontera Holdings LLC<sup>(b),(h)</sup>  | New Frontera Holdings LLC<sup>(b),(h)</sup>  | New Frontera Holdings LLC<sup>(b),(h)</sup>  |
| 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan |
| 3-month Term SOFR + 1.500% <br>Floor 1.000% <br>07/28/2028<br>| &nbsp;&nbsp; 5.434% | 3442275 | &nbsp;&nbsp; 3334704 |
| Oregon Clean Energy LLC<sup>(b),(h)</sup>  | Oregon Clean Energy LLC<sup>(b),(h)</sup>  | Oregon Clean Energy LLC<sup>(b),(h)</sup>  | Oregon Clean Energy LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>07/12/2030<br>| &nbsp;&nbsp; 7.172% | 991504 | &nbsp;&nbsp; 993983 |
| South Field Energy LLC<sup>(b),(h)</sup>  | South Field Energy LLC<sup>(b),(h)</sup>  | South Field Energy LLC<sup>(b),(h)</sup>  | South Field Energy LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>08/29/2031<br>| &nbsp;&nbsp; 6.672% | 1901152 | &nbsp;&nbsp; 1909859 |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 3-month Term SOFR + 3.000% <br>08/29/2031<br>| &nbsp;&nbsp; 6.672% | 114904 | &nbsp;&nbsp; 115431 |
| West Deptford Energy Holdings LLC<sup>(b),(h)</sup>  | West Deptford Energy Holdings LLC<sup>(b),(h)</sup>  | West Deptford Energy Holdings LLC<sup>(b),(h)</sup>  | West Deptford Energy Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.000% <br>07/24/2032<br>| &nbsp;&nbsp; 7.672% | 1026892 | &nbsp;&nbsp; 1022404 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **24791304** |
| **Environmental 1.7%** | **Environmental 1.7%** | **Environmental 1.7%** | **Environmental 1.7%** |
| EnergySolutions LLC/Envirocare of Utah LLC<sup>(b),(h)</sup>  | EnergySolutions LLC/Envirocare of Utah LLC<sup>(b),(h)</sup>  | EnergySolutions LLC/Envirocare of Utah LLC<sup>(b),(h)</sup>  | EnergySolutions LLC/Envirocare of Utah LLC<sup>(b),(h)</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; 6.922% | 3455842 | &nbsp;&nbsp; 3455842 |
| GFL Environmental Services, Inc.<sup>(b),(h)</sup>  | GFL Environmental Services, Inc.<sup>(b),(h)</sup>  | GFL Environmental Services, Inc.<sup>(b),(h)</sup>  | GFL Environmental Services, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.500% <br>03/03/2032<br>| &nbsp;&nbsp; 6.273% | 1995000 | &nbsp;&nbsp; 1993344 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Northstar Group Services, Inc.<sup>(b),(h)</sup>  | Northstar Group Services, Inc.<sup>(b),(h)</sup>  | Northstar Group Services, Inc.<sup>(b),(h)</sup>  | Northstar Group Services, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.750% <br>Floor 0.500% <br>05/31/2030<br>| &nbsp;&nbsp; 8.417% | 1331863 | &nbsp;&nbsp; 1336298 |
| Reworld Holding Corp.<sup>(b),(h)</sup>  | Reworld Holding Corp.<sup>(b),(h)</sup>  | Reworld Holding Corp.<sup>(b),(h)</sup>  | Reworld Holding Corp.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.250% <br>01/15/2031<br>| &nbsp;&nbsp; 5.925% | 670046 | &nbsp;&nbsp; 669068 |
| 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; 5.921% | 2514133 | &nbsp;&nbsp; 2514133 |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 1-month Term SOFR + 2.250% <br>01/31/2031<br>| &nbsp;&nbsp; 5.925% | 108883 | &nbsp;&nbsp; 108724 |
| Tidal Waste & Recycling Holdings LLC<sup>(b),(h)</sup>  | Tidal Waste & Recycling Holdings LLC<sup>(b),(h)</sup>  | Tidal Waste & Recycling Holdings LLC<sup>(b),(h)</sup>  | Tidal Waste & Recycling Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>10/24/2031<br>| &nbsp;&nbsp; 6.422% | 1719067 | &nbsp;&nbsp; 1725084 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11802493** |
| **Finance Companies 0.8%** | **Finance Companies 0.8%** | **Finance Companies 0.8%** | **Finance Companies 0.8%** |
| Neptune BidCo US, Inc.<sup>(b),(h),(i)</sup>  | Neptune BidCo US, Inc.<sup>(b),(h),(i)</sup>  | Neptune BidCo US, Inc.<sup>(b),(h),(i)</sup>  | Neptune BidCo US, Inc.<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 5.000% <br>01/28/2033<br>|  | 1864083 | &nbsp;&nbsp; 1833009 |
| Orion Midco Ltd.<sup>(b),(h)</sup>  | Orion Midco Ltd.<sup>(b),(h)</sup>  | Orion Midco Ltd.<sup>(b),(h)</sup>  | Orion Midco Ltd.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.500% <br>10/08/2032<br>| &nbsp;&nbsp; 7.150% | 1572968 | &nbsp;&nbsp; 1571993 |
| Red SPV LLC<sup>(b),(h)</sup>  | Red SPV LLC<sup>(b),(h)</sup>  | Red SPV LLC<sup>(b),(h)</sup>  | Red SPV LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>03/15/2032<br>| &nbsp;&nbsp; 5.921% | 1066908 | &nbsp;&nbsp; 1066247 |
| Snacking Investments Bidco Pty Ltd.<sup>(b),(h)</sup>  | Snacking Investments Bidco Pty Ltd.<sup>(b),(h)</sup>  | Snacking Investments Bidco Pty Ltd.<sup>(b),(h)</sup>  | Snacking Investments Bidco Pty Ltd.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>10/29/2032<br>| &nbsp;&nbsp; 6.667% | 740880 | &nbsp;&nbsp; 742546 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5213795** |
| **Food and Beverage 2.7%** | **Food and Beverage 2.7%** | **Food and Beverage 2.7%** | **Food and Beverage 2.7%** |
| A-AG US GSI Bidco, Inc.<sup>(b),(h)</sup>  | A-AG US GSI Bidco, Inc.<sup>(b),(h)</sup>  | A-AG US GSI Bidco, Inc.<sup>(b),(h)</sup>  | A-AG US GSI Bidco, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 5.000% <br>10/31/2031<br>| &nbsp;&nbsp; 8.672% | 2148498 | &nbsp;&nbsp; 2149851 |
| Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  |
| Tranche B9 Term Loan | Tranche B9 Term Loan | Tranche B9 Term Loan | Tranche B9 Term Loan |
| 1-month Term SOFR + 1.750% <br>04/06/2028<br>| &nbsp;&nbsp; 5.422% | 1023518 | &nbsp;&nbsp; 1024798 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Aspire Bakeries Holdings LLC<sup>(b),(h)</sup>  | Aspire Bakeries Holdings LLC<sup>(b),(h)</sup>  | Aspire Bakeries Holdings LLC<sup>(b),(h)</sup>  | Aspire Bakeries Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>12/23/2030<br>| &nbsp;&nbsp; 6.672% | 1246453 | &nbsp;&nbsp; 1249570 |
| CHG PPC Parent LLC<sup>(b),(h)</sup>  | CHG PPC Parent LLC<sup>(b),(h)</sup>  | CHG PPC Parent LLC<sup>(b),(h)</sup>  | CHG PPC Parent LLC<sup>(b),(h)</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; 6.786% | 1229660 | &nbsp;&nbsp; 1231198 |
| Dechra Pharmaceuticals Holdings Ltd.<sup>(b),(h)</sup>  | Dechra Pharmaceuticals Holdings Ltd.<sup>(b),(h)</sup>  | Dechra Pharmaceuticals Holdings Ltd.<sup>(b),(h)</sup>  | Dechra Pharmaceuticals Holdings Ltd.<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 6-month Term SOFR + 3.000% <br>01/27/2032<br>| &nbsp;&nbsp; 6.637% | 4294263 | &nbsp;&nbsp; 4295336 |
| Froneri International Ltd.<sup>(b),(h)</sup>  | Froneri International Ltd.<sup>(b),(h)</sup>  | Froneri International Ltd.<sup>(b),(h)</sup>  | Froneri International Ltd.<sup>(b),(h)</sup>  |
| Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan |
| 6-month Term SOFR + 2.250% <br>08/02/2032<br>| &nbsp;&nbsp; 5.877% | 1851965 | &nbsp;&nbsp; 1847910 |
| Golden State Foods LLC<sup>(b),(h)</sup>  | Golden State Foods LLC<sup>(b),(h)</sup>  | Golden State Foods LLC<sup>(b),(h)</sup>  | Golden State Foods LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.500% <br>12/14/2031<br>| &nbsp;&nbsp; 7.171% | 2865525 | &nbsp;&nbsp; 2871055 |
| Naked Juice LLC<sup>(b),(e),(h)</sup>  | Naked Juice LLC<sup>(b),(e),(h)</sup>  | Naked Juice LLC<sup>(b),(e),(h)</sup>  | Naked Juice LLC<sup>(b),(e),(h)</sup>  |
| 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan |
| 3-month Term SOFR + 6.000% <br>Floor 0.500% <br>03/24/2030<br>| &nbsp;&nbsp; 9.772% | 1000000 | &nbsp;&nbsp; 250000 |
| Primo Brands Corp.<sup>(b),(h)</sup>  | Primo Brands Corp.<sup>(b),(h)</sup>  | Primo Brands Corp.<sup>(b),(h)</sup>  | Primo Brands Corp.<sup>(b),(h)</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; 5.922% | 2981735 | &nbsp;&nbsp; 2979379 |
| Utz Quality Foods LLC<sup>(b),(h)</sup>  | Utz Quality Foods LLC<sup>(b),(h)</sup>  | Utz Quality Foods LLC<sup>(b),(h)</sup>  | Utz Quality Foods LLC<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 2.500% <br>01/29/2032<br>| &nbsp;&nbsp; 6.172% | 989093 | &nbsp;&nbsp; 986313 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18885410** |
| **Gaming 4.6%** | **Gaming 4.6%** | **Gaming 4.6%** | **Gaming 4.6%** |
| Caesars Entertainment, Inc.<sup>(b),(h)</sup>  | Caesars Entertainment, Inc.<sup>(b),(h)</sup>  | Caesars Entertainment, Inc.<sup>(b),(h)</sup>  | Caesars Entertainment, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.250% <br>Floor 0.500% <br>02/06/2030<br>| &nbsp;&nbsp; 5.922% | 2596669 | &nbsp;&nbsp; 2577194 |
| ECL Entertainment LLC<sup>(b),(h)</sup>  | ECL Entertainment LLC<sup>(b),(h)</sup>  | ECL Entertainment LLC<sup>(b),(h)</sup>  | ECL Entertainment LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>08/30/2030<br>| &nbsp;&nbsp; 6.672% | 1980148 | &nbsp;&nbsp; 1976188 |
| Entain PLC<sup>(b),(h)</sup>  | Entain PLC<sup>(b),(h)</sup>  | Entain PLC<sup>(b),(h)</sup>  | Entain PLC<sup>(b),(h)</sup>  |
| Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan |
| 3-month Term SOFR + 2.250% <br>10/31/2029<br>| &nbsp;&nbsp; 5.922% | 3801193 | &nbsp;&nbsp; 3793476 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Fertitta Entertainment LLC<sup>(b),(h)</sup>  | Fertitta Entertainment LLC<sup>(b),(h)</sup>  | Fertitta Entertainment LLC<sup>(b),(h)</sup>  | Fertitta Entertainment LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.250% <br>Floor 0.500% <br>01/27/2029<br>| &nbsp;&nbsp; 6.922% | 2594238 | &nbsp;&nbsp; 2586585 |
| Flutter Entertainment PLC<sup>(b),(h)</sup>  | Flutter Entertainment PLC<sup>(b),(h)</sup>  | Flutter Entertainment PLC<sup>(b),(h)</sup>  | Flutter Entertainment PLC<sup>(b),(h)</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; 5.422% | 2878702 | &nbsp;&nbsp; 2871506 |
| HRNI Holdings LLC<sup>(b),(h)</sup>  | HRNI Holdings LLC<sup>(b),(h)</sup>  | HRNI Holdings LLC<sup>(b),(h)</sup>  | HRNI Holdings LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.250% <br>Floor 0.750% <br>12/11/2028<br>| &nbsp;&nbsp; 8.086% | 4037566 | &nbsp;&nbsp; 3876063 |
| Jack Ohio Finance LLC<sup>(b),(h)</sup>  | Jack Ohio Finance LLC<sup>(b),(h)</sup>  | Jack Ohio Finance LLC<sup>(b),(h)</sup>  | Jack Ohio Finance LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.000% <br>02/02/2032<br>| &nbsp;&nbsp; 7.672% | 816866 | &nbsp;&nbsp; 809718 |
| Light and Wonder International, Inc.<sup>(b),(h)</sup>  | Light and Wonder International, Inc.<sup>(b),(h)</sup>  | Light and Wonder International, Inc.<sup>(b),(h)</sup>  | Light and Wonder International, Inc.<sup>(b),(h)</sup>  |
| Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan |
| 1-month Term SOFR + 2.000% <br>04/16/2029<br>| &nbsp;&nbsp; 5.671% | 1865907 | &nbsp;&nbsp; 1858910 |
| Ontario Gaming GTA LP<sup>(b),(h)</sup>  | Ontario Gaming GTA LP<sup>(b),(h)</sup>  | Ontario Gaming GTA LP<sup>(b),(h)</sup>  | Ontario Gaming GTA LP<sup>(b),(h)</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; 7.922% | 3932768 | &nbsp;&nbsp; 3669155 |
| PCI Gaming Authority<sup>(b),(h)</sup>  | PCI Gaming Authority<sup>(b),(h)</sup>  | PCI Gaming Authority<sup>(b),(h)</sup>  | PCI Gaming Authority<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.000% <br>07/18/2031<br>| &nbsp;&nbsp; 5.672% | 2726944 | &nbsp;&nbsp; 2718000 |
| Peninsula Pacific Entertainment Development LLC<sup>(b),(h),(i),(k)</sup>  | Peninsula Pacific Entertainment Development LLC<sup>(b),(h),(i),(k)</sup>  | Peninsula Pacific Entertainment Development LLC<sup>(b),(h),(i),(k)</sup>  | Peninsula Pacific Entertainment Development LLC<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 2.375% <br>08/16/2032<br>| &nbsp;&nbsp; 2.375% | 303362 | &nbsp;&nbsp; 304120 |
| Peninsula Pacific Entertainment Development LLC<sup>(b),(h)</sup>  | Peninsula Pacific Entertainment Development LLC<sup>(b),(h)</sup>  | Peninsula Pacific Entertainment Development LLC<sup>(b),(h)</sup>  | Peninsula Pacific Entertainment Development LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.750% <br>10/01/2032<br>| &nbsp;&nbsp; 8.422% | 1294345 | &nbsp;&nbsp; 1297581 |
| Scientific Games Holdings LP<sup>(b),(h)</sup>  | Scientific Games Holdings LP<sup>(b),(h)</sup>  | Scientific Games Holdings LP<sup>(b),(h)</sup>  | Scientific Games Holdings LP<sup>(b),(h)</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; 6.652% | 835786 | &nbsp;&nbsp; 820851 |
| Voyager Parent LLC<sup>(b),(h)</sup>  | Voyager Parent LLC<sup>(b),(h)</sup>  | Voyager Parent LLC<sup>(b),(h)</sup>  | Voyager Parent LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.250% <br>07/01/2032<br>| &nbsp;&nbsp; 7.911% | 2941728 | &nbsp;&nbsp; 2934138 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **32093485** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Health Care 3.9%** | **Health Care 3.9%** | **Health Care 3.9%** | **Health Care 3.9%** |
| CHG Healthcare Services, Inc.<sup>(b),(h)</sup>  | CHG Healthcare Services, Inc.<sup>(b),(h)</sup>  | CHG Healthcare Services, Inc.<sup>(b),(h)</sup>  | CHG Healthcare Services, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.750% <br>09/29/2028<br>| &nbsp;&nbsp; 6.417% | 1628651 | &nbsp;&nbsp; 1628716 |
| Cotiviti, Inc.<sup>(b),(h)</sup>  | Cotiviti, Inc.<sup>(b),(h)</sup>  | Cotiviti, Inc.<sup>(b),(h)</sup>  | Cotiviti, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>03/26/2032<br>| &nbsp;&nbsp; 6.450% | 614155 | &nbsp;&nbsp; 566865 |
| Element Materials Technology Group US Holdings, Inc./EM Midco 2 LLC<sup>(b),(h)</sup>  | Element Materials Technology Group US Holdings, Inc./EM Midco 2 LLC<sup>(b),(h)</sup>  | Element Materials Technology Group US Holdings, Inc./EM Midco 2 LLC<sup>(b),(h)</sup>  | Element Materials Technology Group US Holdings, Inc./EM Midco 2 LLC<sup>(b),(h)</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 + 3.675% <br>Floor 0.500% <br>07/06/2029<br>| &nbsp;&nbsp; 7.347% | 2705423 | &nbsp;&nbsp; 2709941 |
| Hopper Merger Sub, Inc.<sup>(b),(h),(i)</sup>  | Hopper Merger Sub, Inc.<sup>(b),(h),(i)</sup>  | Hopper Merger Sub, Inc.<sup>(b),(h),(i)</sup>  | Hopper Merger Sub, Inc.<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.250% <br>01/14/2033<br>|  | 2080645 | &nbsp;&nbsp; 2064791 |
| Mamba Purchaser, Inc.<sup>(b),(h)</sup>  | Mamba Purchaser, Inc.<sup>(b),(h)</sup>  | Mamba Purchaser, Inc.<sup>(b),(h)</sup>  | Mamba Purchaser, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>10/14/2031<br>| &nbsp;&nbsp; 6.673% | 1556727 | &nbsp;&nbsp; 1557131 |
| Medline Borrower LP<sup>(b),(h)</sup>  | Medline Borrower LP<sup>(b),(h)</sup>  | Medline Borrower LP<sup>(b),(h)</sup>  | Medline Borrower LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 1.750% <br>10/23/2030<br>| &nbsp;&nbsp; 5.422% | 3124423 | &nbsp;&nbsp; 3131109 |
| Paradigm Parent LLC<sup>(b),(h)</sup>  | Paradigm Parent LLC<sup>(b),(h)</sup>  | Paradigm Parent LLC<sup>(b),(h)</sup>  | Paradigm Parent LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.500% <br>04/16/2032<br>| &nbsp;&nbsp; 8.172% | 1047375 | &nbsp;&nbsp; 888394 |
| Parexel International, Inc.<sup>(b),(h)</sup>  | Parexel International, Inc.<sup>(b),(h)</sup>  | Parexel International, Inc.<sup>(b),(h)</sup>  | Parexel International, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>12/12/2031<br>| &nbsp;&nbsp; 6.422% | 2190566 | &nbsp;&nbsp; 2188748 |
| Resonetics LLC<sup>(b),(h)</sup>  | Resonetics LLC<sup>(b),(h)</sup>  | Resonetics LLC<sup>(b),(h)</sup>  | Resonetics LLC<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 2.750% <br>06/18/2031<br>| &nbsp;&nbsp; 6.421% | 865956 | &nbsp;&nbsp; 864874 |
| Star Parent, Inc.<sup>(b),(h)</sup>  | Star Parent, Inc.<sup>(b),(h)</sup>  | Star Parent, Inc.<sup>(b),(h)</sup>  | Star Parent, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.000% <br>09/27/2030<br>| &nbsp;&nbsp; 7.672% | 2687850 | &nbsp;&nbsp; 2688334 |
| Surgery Center Holdings, Inc.<sup>(b),(h)</sup>  | Surgery Center Holdings, Inc.<sup>(b),(h)</sup>  | Surgery Center Holdings, Inc.<sup>(b),(h)</sup>  | Surgery Center Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>12/19/2030<br>| &nbsp;&nbsp; 6.172% | 3590221 | &nbsp;&nbsp; 3592806 |
| Upstream Newco, Inc.<sup>(b),(h)</sup>  | Upstream Newco, Inc.<sup>(b),(h)</sup>  | Upstream Newco, Inc.<sup>(b),(h)</sup>  | Upstream Newco, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 4.250% <br>11/20/2029<br>| &nbsp;&nbsp; 8.179% | 1713404 | &nbsp;&nbsp; 1543692 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| US Fertility Enterprises LLC<sup>(b),(h),(i)</sup>  | US Fertility Enterprises LLC<sup>(b),(h),(i)</sup>  | US Fertility Enterprises LLC<sup>(b),(h),(i)</sup>  | US Fertility Enterprises LLC<sup>(b),(h),(i)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 0.000% <br>12/09/2032<br>|  | 211567 | &nbsp;&nbsp; 212307 |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>12/10/2032<br>| &nbsp;&nbsp; 7.167% | 1396342 | &nbsp;&nbsp; 1401229 |
| WS Audiology A/S<sup>(b),(h)</sup>  | WS Audiology A/S<sup>(b),(h)</sup>  | WS Audiology A/S<sup>(b),(h)</sup>  | WS Audiology A/S<sup>(b),(h)</sup>  |
| Tranche B8 Term Loan | Tranche B8 Term Loan | Tranche B8 Term Loan | Tranche B8 Term Loan |
| 6-month Term SOFR + 3.500% <br>02/28/2029<br>| &nbsp;&nbsp; 7.198% | 2223836 | &nbsp;&nbsp; 2222457 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **27261394** |
| **Healthcare Insurance 0.1%** | **Healthcare Insurance 0.1%** | **Healthcare Insurance 0.1%** | **Healthcare Insurance 0.1%** |
| Alera Group, Inc.<sup>(b),(h)</sup>  | Alera Group, Inc.<sup>(b),(h)</sup>  | Alera Group, Inc.<sup>(b),(h)</sup>  | Alera Group, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.750% <br>05/30/2032<br>| &nbsp;&nbsp; 6.422% | 897835 | &nbsp;&nbsp; 894468 |
| **Home Construction 0.3%** | **Home Construction 0.3%** | **Home Construction 0.3%** | **Home Construction 0.3%** |
| Salas O'Brien, Inc.<sup>(b),(h),(i)</sup>  | Salas O'Brien, Inc.<sup>(b),(h),(i)</sup>  | Salas O'Brien, Inc.<sup>(b),(h),(i)</sup>  | Salas O'Brien, Inc.<sup>(b),(h),(i)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 0.000% <br>01/22/2033<br>|  | 79149 | &nbsp;&nbsp; 79544 |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>01/22/2033<br>|  | 474892 | &nbsp;&nbsp; 477267 |
| Tecta America Corp.<sup>(b),(h)</sup>  | Tecta America Corp.<sup>(b),(h)</sup>  | Tecta America Corp.<sup>(b),(h)</sup>  | Tecta America Corp.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>02/18/2032<br>| &nbsp;&nbsp; 6.422% | 1666326 | &nbsp;&nbsp; 1668709 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2225520** |
| **Independent Energy 0.1%** | **Independent Energy 0.1%** | **Independent Energy 0.1%** | **Independent Energy 0.1%** |
| Hilcorp Energy I LP<sup>(b),(h)</sup>  | Hilcorp Energy I LP<sup>(b),(h)</sup>  | Hilcorp Energy I LP<sup>(b),(h)</sup>  | Hilcorp Energy I LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 1.750% <br>02/11/2030<br>| &nbsp;&nbsp; 5.425% | 982040 | &nbsp;&nbsp; 982040 |
| **Leisure 2.0%** | **Leisure 2.0%** | **Leisure 2.0%** | **Leisure 2.0%** |
| Alterra Mountain Co.<sup>(b),(e),(h)</sup>  | Alterra Mountain Co.<sup>(b),(e),(h)</sup>  | Alterra Mountain Co.<sup>(b),(e),(h)</sup>  | Alterra Mountain Co.<sup>(b),(e),(h)</sup>  |
| Tranche B8 Term Loan | Tranche B8 Term Loan | Tranche B8 Term Loan | Tranche B8 Term Loan |
| 1-month Term SOFR + 2.500% <br>05/31/2030<br>| &nbsp;&nbsp; 6.172% | 283463 | &nbsp;&nbsp; 283818 |
| Alterra Mountain Co.<sup>(b),(h)</sup>  | Alterra Mountain Co.<sup>(b),(h)</sup>  | Alterra Mountain Co.<sup>(b),(h)</sup>  | Alterra Mountain Co.<sup>(b),(h)</sup>  |
| Tranche B9 Term Loan | Tranche B9 Term Loan | Tranche B9 Term Loan | Tranche B9 Term Loan |
| 1-month Term SOFR + 2.500% <br>08/18/2028<br>| &nbsp;&nbsp; 6.172% | 1168882 | &nbsp;&nbsp; 1169373 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Bulldog Purchaser, Inc.<sup>(b),(h)</sup>  | Bulldog Purchaser, Inc.<sup>(b),(h)</sup>  | Bulldog Purchaser, Inc.<sup>(b),(h)</sup>  | Bulldog Purchaser, Inc.<sup>(b),(h)</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; 7.396% | 1668213 | &nbsp;&nbsp; 1666545 |
| Bulldog Purchaser, Inc.<sup>(b),(h),(i)</sup>  | Bulldog Purchaser, Inc.<sup>(b),(h),(i)</sup>  | Bulldog Purchaser, Inc.<sup>(b),(h),(i)</sup>  | Bulldog Purchaser, Inc.<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>01/28/2033<br>|  | 2892511 | &nbsp;&nbsp; 2881664 |
| Cinemark USA, Inc.<sup>(b),(h)</sup>  | Cinemark USA, Inc.<sup>(b),(h)</sup>  | Cinemark USA, Inc.<sup>(b),(h)</sup>  | Cinemark USA, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>05/24/2030<br>| &nbsp;&nbsp; 5.922% | 3776106 | &nbsp;&nbsp; 3778145 |
| Crown Finance US, Inc.<sup>(b),(h)</sup>  | Crown Finance US, Inc.<sup>(b),(h)</sup>  | Crown Finance US, Inc.<sup>(b),(h)</sup>  | Crown Finance US, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.500% <br>12/02/2031<br>| &nbsp;&nbsp; 8.188% | 1421075 | &nbsp;&nbsp; 1382535 |
| EOC Borrower LLC<sup>(b),(h)</sup>  | EOC Borrower LLC<sup>(b),(h)</sup>  | EOC Borrower LLC<sup>(b),(h)</sup>  | EOC Borrower LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.750% <br>03/24/2032<br>| &nbsp;&nbsp; 6.672% | 615379 | &nbsp;&nbsp; 614917 |
| Motion Acquisition Ltd.<sup>(b),(h)</sup>  | Motion Acquisition Ltd.<sup>(b),(h)</sup>  | Motion Acquisition Ltd.<sup>(b),(h)</sup>  | Motion Acquisition Ltd.<sup>(b),(h)</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; 7.172% | 1980075 | &nbsp;&nbsp; 1686153 |
| TKO Worldwide Holdings LLC<sup>(b),(h)</sup>  | TKO Worldwide Holdings LLC<sup>(b),(h)</sup>  | TKO Worldwide Holdings LLC<sup>(b),(h)</sup>  | TKO Worldwide Holdings LLC<sup>(b),(h)</sup>  |
| Tranche B5 1st Lien Term Loan | Tranche B5 1st Lien Term Loan | Tranche B5 1st Lien Term Loan | Tranche B5 1st Lien Term Loan |
| 3-month Term SOFR + 2.000% <br>11/21/2031<br>| &nbsp;&nbsp; 5.868% | 635962 | &nbsp;&nbsp; 636731 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **14099881** |
| **Lodging 1.0%** | **Lodging 1.0%** | **Lodging 1.0%** | **Lodging 1.0%** |
| Hilton Grand Vacations Borrower LLC<sup>(b),(h)</sup>  | Hilton Grand Vacations Borrower LLC<sup>(b),(h)</sup>  | Hilton Grand Vacations Borrower LLC<sup>(b),(h)</sup>  | Hilton Grand Vacations Borrower LLC<sup>(b),(h)</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; 5.672% | 1734345 | &nbsp;&nbsp; 1729384 |
| SGH2 LLC<sup>(b),(h)</sup>  | SGH2 LLC<sup>(b),(h)</sup>  | SGH2 LLC<sup>(b),(h)</sup>  | SGH2 LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.500% <br>08/18/2032<br>| &nbsp;&nbsp; 8.172% | 1029472 | &nbsp;&nbsp; 1031428 |
| Travel + Leisure Co.<sup>(b),(h)</sup>  | Travel + Leisure Co.<sup>(b),(h)</sup>  | Travel + Leisure Co.<sup>(b),(h)</sup>  | Travel + Leisure Co.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.000% <br>12/14/2029<br>| &nbsp;&nbsp; 5.738% | 2888856 | &nbsp;&nbsp; 2886459 |
| TRQ Sales LLC<sup>(b),(h)</sup>  | TRQ Sales LLC<sup>(b),(h)</sup>  | TRQ Sales LLC<sup>(b),(h)</sup>  | TRQ Sales LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>12/30/2032<br>| &nbsp;&nbsp; 6.936% | 1642182 | &nbsp;&nbsp; 1631919 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7279190** |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Media and Entertainment 3.3%** | **Media and Entertainment 3.3%** | **Media and Entertainment 3.3%** | **Media and Entertainment 3.3%** |
| Cengage Learning, Inc.<sup>(b),(h)</sup>  | Cengage Learning, Inc.<sup>(b),(h)</sup>  | Cengage Learning, Inc.<sup>(b),(h)</sup>  | Cengage Learning, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.000% <br>03/24/2031<br>| &nbsp;&nbsp; 6.671% | 4363080 | &nbsp;&nbsp; 4354615 |
| CMG Media Corp.<sup>(b),(h)</sup>  | CMG Media Corp.<sup>(b),(h)</sup>  | CMG Media Corp.<sup>(b),(h)</sup>  | CMG Media Corp.<sup>(b),(h)</sup>  |
| Tranche B2 1st Lien Term Loan | Tranche B2 1st Lien Term Loan | Tranche B2 1st Lien Term Loan | Tranche B2 1st Lien Term Loan |
| 3-month Term SOFR + 3.500% <br>06/18/2029<br>| &nbsp;&nbsp; 7.272% | 2398752 | &nbsp;&nbsp; 2236836 |
| Creative Artists Agency LLC<sup>(b),(h)</sup>  | Creative Artists Agency LLC<sup>(b),(h)</sup>  | Creative Artists Agency LLC<sup>(b),(h)</sup>  | Creative Artists Agency LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>10/01/2031<br>| &nbsp;&nbsp; 6.172% | 4342136 | &nbsp;&nbsp; 4332497 |
| Emerald X, Inc.<sup>(b),(h)</sup>  | Emerald X, Inc.<sup>(b),(h)</sup>  | Emerald X, Inc.<sup>(b),(h)</sup>  | Emerald X, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>01/30/2032<br>| &nbsp;&nbsp; 6.922% | 1741250 | &nbsp;&nbsp; 1746334 |
| EW Scripps Co. (The)<sup>(b),(h)</sup>  | EW Scripps Co. (The)<sup>(b),(h)</sup>  | EW Scripps Co. (The)<sup>(b),(h)</sup>  | EW Scripps Co. (The)<sup>(b),(h)</sup>  |
| Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan |
| 1-month Term SOFR + 3.350% <br>11/30/2029<br>| &nbsp;&nbsp; 7.140% | 493102 | &nbsp;&nbsp; 471529 |
| Gray Television, Inc.<sup>(b),(h)</sup>  | Gray Television, Inc.<sup>(b),(h)</sup>  | Gray Television, Inc.<sup>(b),(h)</sup>  | Gray Television, Inc.<sup>(b),(h)</sup>  |
| Tranche D Term Loan | Tranche D Term Loan | Tranche D Term Loan | Tranche D Term Loan |
| 1-month Term SOFR + 3.000% <br>12/01/2028<br>| &nbsp;&nbsp; 6.814% | 1553669 | &nbsp;&nbsp; 1545621 |
| Hubbard Radio LLC<sup>(b),(h)</sup>  | Hubbard Radio LLC<sup>(b),(h)</sup>  | Hubbard Radio LLC<sup>(b),(h)</sup>  | Hubbard Radio LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.500% <br>Floor 1.000% <br>09/30/2027<br>| &nbsp;&nbsp; 8.172% | 1991461 | &nbsp;&nbsp; 398949 |
| NEP Group, Inc.<sup>(b),(h),(i)</sup>  | NEP Group, Inc.<sup>(b),(h),(i)</sup>  | NEP Group, Inc.<sup>(b),(h),(i)</sup>  | NEP Group, Inc.<sup>(b),(h),(i)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.500% <br>10/17/2031<br>| &nbsp;&nbsp; 8.172% | 1529956 | &nbsp;&nbsp; 1396774 |
| Plano Holdco, Inc.<sup>(b),(h)</sup>  | Plano Holdco, Inc.<sup>(b),(h)</sup>  | Plano Holdco, Inc.<sup>(b),(h)</sup>  | Plano Holdco, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>10/02/2031<br>| &nbsp;&nbsp; 7.172% | 2201595 | &nbsp;&nbsp; 2069499 |
| Sinclair Television Group, Inc.<sup>(b),(e),(h)</sup>  | Sinclair Television Group, Inc.<sup>(b),(e),(h)</sup>  | Sinclair Television Group, Inc.<sup>(b),(e),(h)</sup>  | Sinclair Television Group, Inc.<sup>(b),(e),(h)</sup>  |
| Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan | Tranche B6 Term Loan |
| 1-month Term SOFR + 3.300% <br>12/31/2029<br>| &nbsp;&nbsp; 7.234% | 1177357 | &nbsp;&nbsp; 1009584 |
| United Talent Agency LLC<sup>(b),(h)</sup>  | United Talent Agency LLC<sup>(b),(h)</sup>  | United Talent Agency LLC<sup>(b),(h)</sup>  | United Talent Agency LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>06/10/2032<br>| &nbsp;&nbsp; 6.680% | 1247481 | &nbsp;&nbsp; 1247481 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Univision Communications, Inc.<sup>(b),(h)</sup>  | Univision Communications, Inc.<sup>(b),(h)</sup>  | Univision Communications, Inc.<sup>(b),(h)</sup>  | Univision Communications, Inc.<sup>(b),(h)</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; 7.036% | 2028125 | &nbsp;&nbsp; 2010379 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **22820098** |
| **Midstream 2.6%** | **Midstream 2.6%** | **Midstream 2.6%** | **Midstream 2.6%** |
| AL GCX Holdings LLC<sup>(b),(h)</sup>  | AL GCX Holdings LLC<sup>(b),(h)</sup>  | AL GCX Holdings LLC<sup>(b),(h)</sup>  | AL GCX Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>12/17/2032<br>| &nbsp;&nbsp; 5.925% | 895724 | &nbsp;&nbsp; 893808 |
| CQP Holdco LP<sup>(b),(h)</sup>  | CQP Holdco LP<sup>(b),(h)</sup>  | CQP Holdco LP<sup>(b),(h)</sup>  | CQP Holdco LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 1.750% <br>10/30/2032<br>| &nbsp;&nbsp; 5.422% | 3942289 | &nbsp;&nbsp; 3923681 |
| GIP Pilot Acquisition Partners LP<sup>(b),(h)</sup>  | GIP Pilot Acquisition Partners LP<sup>(b),(h)</sup>  | GIP Pilot Acquisition Partners LP<sup>(b),(h)</sup>  | GIP Pilot Acquisition Partners LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.000% <br>10/04/2030<br>| &nbsp;&nbsp; 5.646% | 2820336 | &nbsp;&nbsp; 2819461 |
| ITT Holdings LLC<sup>(b),(h)</sup>  | ITT Holdings LLC<sup>(b),(h)</sup>  | ITT Holdings LLC<sup>(b),(h)</sup>  | ITT Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>10/11/2030<br>| &nbsp;&nbsp; 5.672% | 3560940 | &nbsp;&nbsp; 3555385 |
| Oryx Midstream Services Permian Basin LLC<sup>(b),(h)</sup>  | Oryx Midstream Services Permian Basin LLC<sup>(b),(h)</sup>  | Oryx Midstream Services Permian Basin LLC<sup>(b),(h)</sup>  | Oryx Midstream Services Permian Basin LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>10/05/2028<br>| &nbsp;&nbsp; 5.924% | 2636865 | &nbsp;&nbsp; 2636127 |
| Traverse Midstream Partners LLC<sup>(b),(h)</sup>  | Traverse Midstream Partners LLC<sup>(b),(h)</sup>  | Traverse Midstream Partners LLC<sup>(b),(h)</sup>  | Traverse Midstream Partners LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.500% <br>02/16/2028<br>| &nbsp;&nbsp; 6.167% | 2478820 | &nbsp;&nbsp; 2478820 |
| WhiteWater DBR Holdco LLC<sup>(b),(h)</sup>  | WhiteWater DBR Holdco LLC<sup>(b),(h)</sup>  | WhiteWater DBR Holdco LLC<sup>(b),(h)</sup>  | WhiteWater DBR Holdco LLC<sup>(b),(h)</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; 5.938% | 1916817 | &nbsp;&nbsp; 1920651 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18227933** |
| **Natural Gas 0.0%** | **Natural Gas 0.0%** | **Natural Gas 0.0%** | **Natural Gas 0.0%** |
| AL GCX Fund VIII Holdings LLC<sup>(b),(h)</sup>  | AL GCX Fund VIII Holdings LLC<sup>(b),(h)</sup>  | AL GCX Fund VIII Holdings LLC<sup>(b),(h)</sup>  | AL GCX Fund VIII Holdings LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>01/30/2032<br>| &nbsp;&nbsp; 5.675% | 129861 | &nbsp;&nbsp; 129861 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Oil Field Services 0.1%** | **Oil Field Services 0.1%** | **Oil Field Services 0.1%** | **Oil Field Services 0.1%** |
| Lealand Finance Co. BV<sup>(b),(h)</sup>  | Lealand Finance Co. BV<sup>(b),(h)</sup>  | Lealand Finance Co. BV<sup>(b),(h)</sup>  | Lealand Finance Co. BV<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>06/30/2027<br>| &nbsp;&nbsp; 6.786% | 33314 | &nbsp;&nbsp; 26874 |
| 1-month Term SOFR + 1.000% <br>12/31/2027<br>| &nbsp;&nbsp; 4.786% | 510631 | &nbsp;&nbsp; 415653 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **442527** |
| **Other Financial Institutions 3.4%** | **Other Financial Institutions 3.4%** | **Other Financial Institutions 3.4%** | **Other Financial Institutions 3.4%** |
| 19th Holdings Golf LLC<sup>(b),(h)</sup>  | 19th Holdings Golf LLC<sup>(b),(h)</sup>  | 19th Holdings Golf LLC<sup>(b),(h)</sup>  | 19th Holdings Golf LLC<sup>(b),(h)</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; 7.032% | 1715857 | &nbsp;&nbsp; 1712648 |
| Acuren Delaware Holdco, Inc.<sup>(b),(h)</sup>  | Acuren Delaware Holdco, Inc.<sup>(b),(h)</sup>  | Acuren Delaware Holdco, Inc.<sup>(b),(h)</sup>  | Acuren Delaware Holdco, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>07/30/2031<br>| &nbsp;&nbsp; 6.422% | 1402297 | &nbsp;&nbsp; 1401862 |
| Apex Group Treasury LLC<sup>(b),(h)</sup>  | Apex Group Treasury LLC<sup>(b),(h)</sup>  | Apex Group Treasury LLC<sup>(b),(h)</sup>  | Apex Group Treasury LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>02/27/2032<br>| &nbsp;&nbsp; 7.387% | 2371984 | &nbsp;&nbsp; 2182226 |
| BCP VI Summit Holdings LP<sup>(b),(h)</sup>  | BCP VI Summit Holdings LP<sup>(b),(h)</sup>  | BCP VI Summit Holdings LP<sup>(b),(h)</sup>  | BCP VI Summit Holdings LP<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>01/30/2032<br>| &nbsp;&nbsp; 6.700% | 2125557 | &nbsp;&nbsp; 2121135 |
| BradyPLUS Holdings LLC<sup>(b),(h)</sup>  | BradyPLUS Holdings LLC<sup>(b),(h)</sup>  | BradyPLUS Holdings LLC<sup>(b),(h)</sup>  | BradyPLUS Holdings LLC<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.500% <br>12/29/2032<br>| &nbsp;&nbsp; 7.190% | 1940736 | &nbsp;&nbsp; 1927792 |
| Chrysaor Bidco SARL<sup>(b),(h)</sup>  | Chrysaor Bidco SARL<sup>(b),(h)</sup>  | Chrysaor Bidco SARL<sup>(b),(h)</sup>  | Chrysaor Bidco SARL<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 3.250% <br>10/30/2031<br>| &nbsp;&nbsp; 6.900% | 1052729 | &nbsp;&nbsp; 1055887 |
| Citco Funding LLC<sup>(b),(h),(i)</sup>  | Citco Funding LLC<sup>(b),(h),(i)</sup>  | Citco Funding LLC<sup>(b),(h),(i)</sup>  | Citco Funding LLC<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.000% <br>01/21/2033<br>|  | 951144 | &nbsp;&nbsp; 950554 |
| Emerald 2 Ltd.<sup>(b),(h)</sup>  | Emerald 2 Ltd.<sup>(b),(h)</sup>  | Emerald 2 Ltd.<sup>(b),(h)</sup>  | Emerald 2 Ltd.<sup>(b),(h)</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 + 3.250% <br>01/12/2032<br>| &nbsp;&nbsp; 6.922% | 992479 | &nbsp;&nbsp; 991238 |
| FinCo I LLC<sup>(b),(h)</sup>  | FinCo I LLC<sup>(b),(h)</sup>  | FinCo I LLC<sup>(b),(h)</sup>  | FinCo I LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 1.750% <br>06/27/2029<br>| &nbsp;&nbsp; 5.422% | 1814531 | &nbsp;&nbsp; 1811937 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Hunter Douglas Holding BV<sup>(b),(h)</sup>  | Hunter Douglas Holding BV<sup>(b),(h)</sup>  | Hunter Douglas Holding BV<sup>(b),(h)</sup>  | Hunter Douglas Holding BV<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 3.000% <br>01/17/2032<br>| &nbsp;&nbsp; 6.672% | 1983069 | &nbsp;&nbsp; 1975216 |
| Lavender Dutch Borrow BV<sup>(b),(h),(i)</sup>  | Lavender Dutch Borrow BV<sup>(b),(h),(i)</sup>  | Lavender Dutch Borrow BV<sup>(b),(h),(i)</sup>  | Lavender Dutch Borrow BV<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>09/27/2032<br>| &nbsp;&nbsp; 6.935% | 1520224 | &nbsp;&nbsp; 1524024 |
| Mariner Wealth Advisers LLC<sup>(b),(h)</sup>  | Mariner Wealth Advisers LLC<sup>(b),(h)</sup>  | Mariner Wealth Advisers LLC<sup>(b),(h)</sup>  | Mariner Wealth Advisers LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>12/31/2030<br>| &nbsp;&nbsp; 5.936% | 952722 | &nbsp;&nbsp; 951293 |
| Opal US LLC<sup>(b),(h)</sup>  | Opal US LLC<sup>(b),(h)</sup>  | Opal US LLC<sup>(b),(h)</sup>  | Opal US LLC<sup>(b),(h)</sup>  |
| Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan | Tranche B4 Term Loan |
| 3-month Term SOFR + 3.000% <br>04/28/2032<br>| &nbsp;&nbsp; 6.686% | 3269507 | &nbsp;&nbsp; 3267480 |
| Trans Union LLC<sup>(b),(h)</sup>  | Trans Union LLC<sup>(b),(h)</sup>  | Trans Union LLC<sup>(b),(h)</sup>  | Trans Union LLC<sup>(b),(h)</sup>  |
| Tranche B9 Term Loan | Tranche B9 Term Loan | Tranche B9 Term Loan | Tranche B9 Term Loan |
| 1-month Term SOFR + 1.750% <br>06/24/2031<br>| &nbsp;&nbsp; 5.422% | 1829640 | &nbsp;&nbsp; 1829640 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **23702932** |
| **Other Industry 4.3%** | **Other Industry 4.3%** | **Other Industry 4.3%** | **Other Industry 4.3%** |
| Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  | Aramark Intermediate HoldCo Corp.<sup>(b),(h)</sup>  |
| Tranche B10 Term Loan | Tranche B10 Term Loan | Tranche B10 Term Loan | Tranche B10 Term Loan |
| 1-month Term SOFR + 1.750% <br>06/22/2030<br>| &nbsp;&nbsp; 5.422% | 399668 | &nbsp;&nbsp; 400068 |
| Artera Services LLC<sup>(b),(h)</sup>  | Artera Services LLC<sup>(b),(h)</sup>  | Artera Services LLC<sup>(b),(h)</sup>  | Artera Services LLC<sup>(b),(h)</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; 8.172% | 1665719 | &nbsp;&nbsp; 1337339 |
| Brand Industrial Services, Inc.<sup>(b),(h)</sup>  | Brand Industrial Services, Inc.<sup>(b),(h)</sup>  | Brand Industrial Services, Inc.<sup>(b),(h)</sup>  | Brand Industrial Services, Inc.<sup>(b),(h)</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; 8.354% | 954339 | &nbsp;&nbsp; 840840 |
| Catawba Nation Gaming Authority<sup>(b),(h)</sup>  | Catawba Nation Gaming Authority<sup>(b),(h)</sup>  | Catawba Nation Gaming Authority<sup>(b),(h)</sup>  | Catawba Nation Gaming Authority<sup>(b),(h)</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; 8.417% | 3454547 | &nbsp;&nbsp; 3520184 |
| Chariot Buyer LLC<sup>(b),(h),(i)</sup>  | Chariot Buyer LLC<sup>(b),(h),(i)</sup>  | Chariot Buyer LLC<sup>(b),(h),(i)</sup>  | Chariot Buyer LLC<sup>(b),(h),(i)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.750% <br>09/08/2032<br>| &nbsp;&nbsp; 6.422% | 2349563 | &nbsp;&nbsp; 2346085 |
| Dayforce, Inc.<sup>(b),(h),(i)</sup>  | Dayforce, Inc.<sup>(b),(h),(i)</sup>  | Dayforce, Inc.<sup>(b),(h),(i)</sup>  | Dayforce, Inc.<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.000% <br>08/20/2032<br>|  | 6814145 | &nbsp;&nbsp; 6609720 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Fugue Finance LLC<sup>(b),(h),(i)</sup>  | Fugue Finance LLC<sup>(b),(h),(i)</sup>  | Fugue Finance LLC<sup>(b),(h),(i)</sup>  | Fugue Finance LLC<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.250% <br>01/09/2032<br>| &nbsp;&nbsp; 6.572% | 805106 | &nbsp;&nbsp; 798061 |
| Grant Thornton Advisors LLC<sup>(b),(h)</sup>  | Grant Thornton Advisors LLC<sup>(b),(h)</sup>  | Grant Thornton Advisors LLC<sup>(b),(h)</sup>  | Grant Thornton Advisors LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>06/02/2031<br>| &nbsp;&nbsp; 6.422% | 2005729 | &nbsp;&nbsp; 1974039 |
| Hillenbrand, Inc.<sup>(b),(h),(i)</sup>  | Hillenbrand, Inc.<sup>(b),(h),(i)</sup>  | Hillenbrand, Inc.<sup>(b),(h),(i)</sup>  | Hillenbrand, Inc.<sup>(b),(h),(i)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.750% <br>01/12/2033<br>|  | 2267737 | &nbsp;&nbsp; 2259233 |
| Hillman Group, Inc. (The)<sup>(b),(h)</sup>  | Hillman Group, Inc. (The)<sup>(b),(h)</sup>  | Hillman Group, Inc. (The)<sup>(b),(h)</sup>  | Hillman Group, Inc. (The)<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>Floor 0.500% <br>07/14/2028<br>| &nbsp;&nbsp; 5.671% | 1339309 | &nbsp;&nbsp; 1339871 |
| MRP Buyer LLC<sup>(b),(h),(i),(k)</sup>  | MRP Buyer LLC<sup>(b),(h),(i),(k)</sup>  | MRP Buyer LLC<sup>(b),(h),(i),(k)</sup>  | MRP Buyer LLC<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 3.250% <br>06/03/2032<br>| &nbsp;&nbsp; 5.461% | 317059 | &nbsp;&nbsp; 314880 |
| MRP Buyer LLC<sup>(b),(h)</sup>  | MRP Buyer LLC<sup>(b),(h)</sup>  | MRP Buyer LLC<sup>(b),(h)</sup>  | MRP Buyer LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>06/04/2032<br>| &nbsp;&nbsp; 6.922% | 2488698 | &nbsp;&nbsp; 2471601 |
| WireCo WorldGroup, Inc.<sup>(b),(h)</sup>  | WireCo WorldGroup, Inc.<sup>(b),(h)</sup>  | WireCo WorldGroup, Inc.<sup>(b),(h)</sup>  | WireCo WorldGroup, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.750% <br>11/13/2028<br>| &nbsp;&nbsp; 7.419% | 3559061 | &nbsp;&nbsp; 3545715 |
| Xplor T1 LLC<sup>(b),(h)</sup>  | Xplor T1 LLC<sup>(b),(h)</sup>  | Xplor T1 LLC<sup>(b),(h)</sup>  | Xplor T1 LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>06/24/2032<br>| &nbsp;&nbsp; 7.292% | 2017870 | &nbsp;&nbsp; 1972468 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **29730104** |
| **Other REIT 0.1%** | **Other REIT 0.1%** | **Other REIT 0.1%** | **Other REIT 0.1%** |
| OEG Borrower LLC<sup>(b),(h)</sup>  | OEG Borrower LLC<sup>(b),(h)</sup>  | OEG Borrower LLC<sup>(b),(h)</sup>  | OEG Borrower LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.500% <br>06/30/2031<br>| &nbsp;&nbsp; 7.201% | 593144 | &nbsp;&nbsp; 594135 |
| **Packaging 2.9%** | **Packaging 2.9%** | **Packaging 2.9%** | **Packaging 2.9%** |
| Charter Next Generation, Inc.<sup>(b),(h)</sup>  | Charter Next Generation, Inc.<sup>(b),(h)</sup>  | Charter Next Generation, Inc.<sup>(b),(h)</sup>  | Charter Next Generation, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.500% <br>11/29/2030<br>| &nbsp;&nbsp; 6.438% | 4242370 | &nbsp;&nbsp; 4240589 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Clydesdale Acquisition Holdings, Inc.<sup>(b),(h)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(b),(h)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(b),(h)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(b),(h)</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; 6.847% | 3995703 | &nbsp;&nbsp; 3973407 |
| 1-month Term SOFR + 3.250% <br>04/01/2032<br>| &nbsp;&nbsp; 6.922% | 717636 | &nbsp;&nbsp; 713423 |
| Flint Group Packaging Inks North America Holdings LLC<sup>(b),(h)</sup>  | Flint Group Packaging Inks North America Holdings LLC<sup>(b),(h)</sup>  | Flint Group Packaging Inks North America Holdings LLC<sup>(b),(h)</sup>  | Flint Group Packaging Inks North America Holdings LLC<sup>(b),(h)</sup>  |
| Tranche B 2nd Lien Term Loan | Tranche B 2nd Lien Term Loan | Tranche B 2nd Lien Term Loan | Tranche B 2nd Lien Term Loan |
| 3-month Term SOFR + 0.100% <br>12/31/2027<br>| &nbsp;&nbsp; 4.033% | 2514214 | &nbsp;&nbsp; 119425 |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.250% <br>12/31/2026<br>| &nbsp;&nbsp; 8.183% | 3008054 | &nbsp;&nbsp; 2850131 |
| LC Ahab US Bidco LLC<sup>(b),(h)</sup>  | LC Ahab US Bidco LLC<sup>(b),(h)</sup>  | LC Ahab US Bidco LLC<sup>(b),(h)</sup>  | LC Ahab US Bidco LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.000% <br>05/01/2031<br>| &nbsp;&nbsp; 6.672% | 3501840 | &nbsp;&nbsp; 3506217 |
| Owens-Brockway Glass Container, Inc.<sup>(b),(h)</sup>  | Owens-Brockway Glass Container, Inc.<sup>(b),(h)</sup>  | Owens-Brockway Glass Container, Inc.<sup>(b),(h)</sup>  | Owens-Brockway Glass Container, Inc.<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 1-month Term SOFR + 3.000% <br>09/30/2032<br>| &nbsp;&nbsp; 6.672% | 1292002 | &nbsp;&nbsp; 1293216 |
| Tosca Services LLC<sup>(b),(h)</sup>  | Tosca Services LLC<sup>(b),(h)</sup>  | Tosca Services LLC<sup>(b),(h)</sup>  | Tosca Services LLC<sup>(b),(h)</sup>  |
| Tranche A Term Loan | Tranche A Term Loan | Tranche A Term Loan | Tranche A Term Loan |
| 1-month Term SOFR + 5.500% <br>11/30/2028<br>| &nbsp;&nbsp; 9.172% | 1566580 | &nbsp;&nbsp; 1582246 |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 1.500% <br>11/30/2028<br>| &nbsp;&nbsp; 5.272% | 1997927 | &nbsp;&nbsp; 1838932 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **20117586** |
| **Paper 0.3%** | **Paper 0.3%** | **Paper 0.3%** | **Paper 0.3%** |
| Verde Purchaser LLC<sup>(b),(h)</sup>  | Verde Purchaser LLC<sup>(b),(h)</sup>  | Verde Purchaser LLC<sup>(b),(h)</sup>  | Verde Purchaser LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.000% <br>11/30/2030<br>| &nbsp;&nbsp; 7.672% | 2201957 | &nbsp;&nbsp; 2152413 |
| **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** | **Pharmaceuticals 0.1%** |
| Alkermes, Inc.<sup>(b),(h),(i)</sup>  | Alkermes, Inc.<sup>(b),(h),(i)</sup>  | Alkermes, Inc.<sup>(b),(h),(i)</sup>  | Alkermes, Inc.<sup>(b),(h),(i)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>01/28/2031<br>|  | 483281 | &nbsp;&nbsp; 484489 |
| **Property & Casualty 2.7%** | **Property & Casualty 2.7%** | **Property & Casualty 2.7%** | **Property & Casualty 2.7%** |
| Alliant Holdings Intermediate LLC<sup>(b),(h)</sup>  | Alliant Holdings Intermediate LLC<sup>(b),(h)</sup>  | Alliant Holdings Intermediate LLC<sup>(b),(h)</sup>  | Alliant Holdings Intermediate LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>09/19/2031<br>| &nbsp;&nbsp; 6.172% | 3349264 | &nbsp;&nbsp; 3337742 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Broadstreet Partners, Inc.<sup>(b),(h)</sup>  | Broadstreet Partners, Inc.<sup>(b),(h)</sup>  | Broadstreet Partners, Inc.<sup>(b),(h)</sup>  | Broadstreet Partners, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>06/13/2031<br>| &nbsp;&nbsp; 6.172% | 3369121 | &nbsp;&nbsp; 3347290 |
| CRC Insurance Group LLC<sup>(b),(h)</sup>  | CRC Insurance Group LLC<sup>(b),(h)</sup>  | CRC Insurance Group LLC<sup>(b),(h)</sup>  | CRC Insurance Group LLC<sup>(b),(h)</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; 6.422% | 1511755 | &nbsp;&nbsp; 1505617 |
| Hub International Ltd.<sup>(b),(h)</sup>  | Hub International Ltd.<sup>(b),(h)</sup>  | Hub International Ltd.<sup>(b),(h)</sup>  | Hub International Ltd.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>06/20/2030<br>| &nbsp;&nbsp; 5.920% | 1262931 | &nbsp;&nbsp; 1261895 |
| Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub <br> Ltd.<sup>(b),(h)</sup>  | Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub <br> Ltd.<sup>(b),(h)</sup>  | Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub <br> Ltd.<sup>(b),(h)</sup>  | Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub <br> Ltd.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>07/31/2031<br>| &nbsp;&nbsp; 6.172% | 4570243 | &nbsp;&nbsp; 4549539 |
| USI, Inc.<sup>(b),(h)</sup>  | USI, Inc.<sup>(b),(h)</sup>  | USI, Inc.<sup>(b),(h)</sup>  | USI, Inc.<sup>(b),(h)</sup>  |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 3-month Term SOFR + 2.250% <br>09/29/2030<br>| &nbsp;&nbsp; 5.922% | 2006404 | &nbsp;&nbsp; 2000385 |
| Tranche D Term Loan | Tranche D Term Loan | Tranche D Term Loan | Tranche D Term Loan |
| 3-month Term SOFR + 2.250% <br>11/21/2029<br>| &nbsp;&nbsp; 5.922% | 2930023 | &nbsp;&nbsp; 2926361 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18928829** |
| **Restaurants 1.5%** | **Restaurants 1.5%** | **Restaurants 1.5%** | **Restaurants 1.5%** |
| Dave & Buster's, Inc.<sup>(b),(h)</sup>  | Dave & Buster's, Inc.<sup>(b),(h)</sup>  | Dave & Buster's, Inc.<sup>(b),(h)</sup>  | Dave & Buster's, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 3.250% <br>06/29/2029<br>| &nbsp;&nbsp; 7.125% | 2081912 | &nbsp;&nbsp; 1932389 |
| 3-month Term SOFR + 3.250% <br>11/01/2031<br>| &nbsp;&nbsp; 7.072% | 1094772 | &nbsp;&nbsp; 973439 |
| Flynn Restaurant Group LP<sup>(b),(h)</sup>  | Flynn Restaurant Group LP<sup>(b),(h)</sup>  | Flynn Restaurant Group LP<sup>(b),(h)</sup>  | Flynn Restaurant Group LP<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.750% <br>01/28/2032<br>| &nbsp;&nbsp; 7.422% | 676348 | &nbsp;&nbsp; 675671 |
| IRB Holding Corp.<sup>(b),(h)</sup>  | IRB Holding Corp.<sup>(b),(h)</sup>  | IRB Holding Corp.<sup>(b),(h)</sup>  | IRB Holding Corp.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.500% <br>12/15/2030<br>| &nbsp;&nbsp; 6.172% | 2912522 | &nbsp;&nbsp; 2910571 |
| Whatabrands LLC<sup>(b),(h)</sup>  | Whatabrands LLC<sup>(b),(h)</sup>  | Whatabrands LLC<sup>(b),(h)</sup>  | Whatabrands LLC<sup>(b),(h)</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; 6.172% | 3841950 | &nbsp;&nbsp; 3835034 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10327104** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Retailers 2.3%** | **Retailers 2.3%** | **Retailers 2.3%** | **Retailers 2.3%** |
| Belron Finance 2019 LLC<sup>(b),(h)</sup>  | Belron Finance 2019 LLC<sup>(b),(h)</sup>  | Belron Finance 2019 LLC<sup>(b),(h)</sup>  | Belron Finance 2019 LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>10/16/2031<br>| &nbsp;&nbsp; 6.120% | 2253861 | &nbsp;&nbsp; 2258932 |
| Great Outdoors Group LLC<sup>(b),(h)</sup>  | Great Outdoors Group LLC<sup>(b),(h)</sup>  | Great Outdoors Group LLC<sup>(b),(h)</sup>  | Great Outdoors Group LLC<sup>(b),(h)</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; 6.922% | 3917639 | &nbsp;&nbsp; 3912742 |
| Harbor Freight Tools USA, Inc.<sup>(b),(h)</sup>  | Harbor Freight Tools USA, Inc.<sup>(b),(h)</sup>  | Harbor Freight Tools USA, Inc.<sup>(b),(h)</sup>  | Harbor Freight Tools USA, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>06/11/2031<br>| &nbsp;&nbsp; 5.922% | 1705737 | &nbsp;&nbsp; 1683358 |
| Mavis Tire Express Services Topco Corp.<sup>(b),(h)</sup>  | Mavis Tire Express Services Topco Corp.<sup>(b),(h)</sup>  | Mavis Tire Express Services Topco Corp.<sup>(b),(h)</sup>  | Mavis Tire Express Services Topco Corp.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>05/04/2028<br>| &nbsp;&nbsp; 6.672% | 2754694 | &nbsp;&nbsp; 2753097 |
| PetSmart LLC<sup>(b),(h)</sup>  | PetSmart LLC<sup>(b),(h)</sup>  | PetSmart LLC<sup>(b),(h)</sup>  | PetSmart LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 4.000% <br>08/18/2032<br>| &nbsp;&nbsp; 7.671% | 2349801 | &nbsp;&nbsp; 2346276 |
| Restoration Hardware, Inc.<sup>(b),(h)</sup>  | Restoration Hardware, Inc.<sup>(b),(h)</sup>  | Restoration Hardware, Inc.<sup>(b),(h)</sup>  | Restoration Hardware, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>Floor 0.500% <br>10/20/2028<br>| &nbsp;&nbsp; 6.286% | 982051 | &nbsp;&nbsp; 966093 |
| 1-month Term SOFR + 3.250% <br>Floor 0.500% <br>10/20/2028<br>| &nbsp;&nbsp; 7.022% | 2370948 | &nbsp;&nbsp; 2359093 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **16279591** |
| **Supermarkets 0.2%** | **Supermarkets 0.2%** | **Supermarkets 0.2%** | **Supermarkets 0.2%** |
| ACP Tara Holdings, Inc.<sup>(b),(h)</sup>  | ACP Tara Holdings, Inc.<sup>(b),(h)</sup>  | ACP Tara Holdings, Inc.<sup>(b),(h)</sup>  | ACP Tara Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>12/15/2032<br>| &nbsp;&nbsp; 6.973% | 1486605 | &nbsp;&nbsp; 1492179 |
| **Technology 18.6%** | **Technology 18.6%** | **Technology 18.6%** | **Technology 18.6%** |
| Adeia, Inc.<sup>(b),(h)</sup>  | Adeia, Inc.<sup>(b),(h)</sup>  | Adeia, Inc.<sup>(b),(h)</sup>  | Adeia, Inc.<sup>(b),(h)</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; 6.172% | 2564520 | &nbsp;&nbsp; 2561314 |
| Ahead DB Holdings LLC<sup>(b),(h)</sup>  | Ahead DB Holdings LLC<sup>(b),(h)</sup>  | Ahead DB Holdings LLC<sup>(b),(h)</sup>  | Ahead DB Holdings LLC<sup>(b),(h)</sup>  |
| Tranche B5 1st Lien Term Loan | Tranche B5 1st Lien Term Loan | Tranche B5 1st Lien Term Loan | Tranche B5 1st Lien Term Loan |
| 3-month Term SOFR + 2.500% <br>Floor 0.750% <br>02/01/2031<br>| &nbsp;&nbsp; 7.062% | 2727900 | &nbsp;&nbsp; 2681007 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Applied Systems, Inc.<sup>(b),(h)</sup>  | Applied Systems, Inc.<sup>(b),(h)</sup>  | Applied Systems, Inc.<sup>(b),(h)</sup>  | Applied Systems, Inc.<sup>(b),(h)</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 + 2.500% <br>02/24/2031<br>| &nbsp;&nbsp; 6.172% | 1617552 | &nbsp;&nbsp; 1603140 |
| Ascend Learning LLC<sup>(b),(h)</sup>  | Ascend Learning LLC<sup>(b),(h)</sup>  | Ascend Learning LLC<sup>(b),(h)</sup>  | Ascend Learning LLC<sup>(b),(h)</sup>  |
| 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; 6.672% | 4506181 | &nbsp;&nbsp; 4448457 |
| athenahealth Group, Inc.<sup>(b),(h)</sup>  | athenahealth Group, Inc.<sup>(b),(h)</sup>  | athenahealth Group, Inc.<sup>(b),(h)</sup>  | athenahealth Group, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>Floor 0.500% <br>02/15/2029<br>| &nbsp;&nbsp; 6.422% | 4511914 | &nbsp;&nbsp; 4448928 |
| Atlas CC Acquisition Corp.<sup>(b),(h)</sup>  | Atlas CC Acquisition Corp.<sup>(b),(h)</sup>  | Atlas CC Acquisition Corp.<sup>(b),(h)</sup>  | Atlas CC Acquisition Corp.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 4.250% <br>05/25/2029<br>| &nbsp;&nbsp; 8.182% | 2855386 | &nbsp;&nbsp; 584069 |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 3-month Term SOFR + 1.000% <br>05/25/2029<br>|  | 414394 | &nbsp;&nbsp; 84764 |
| Avaya, Inc.<sup>(b),(h)</sup>  | Avaya, Inc.<sup>(b),(h)</sup>  | Avaya, Inc.<sup>(b),(h)</sup>  | Avaya, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 7.500% <br>Floor 1.000% <br>08/01/2028<br>| &nbsp;&nbsp; 11.172% | 1785034 | &nbsp;&nbsp; 1633860 |
| Barracuda Parent LLC<sup>(b),(h)</sup>  | Barracuda Parent LLC<sup>(b),(h)</sup>  | Barracuda Parent LLC<sup>(b),(h)</sup>  | Barracuda Parent LLC<sup>(b),(h)</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; 8.167% | 609529 | &nbsp;&nbsp; 468575 |
| BCPE Pequod Buyer, Inc.<sup>(b),(h)</sup>  | BCPE Pequod Buyer, Inc.<sup>(b),(h)</sup>  | BCPE Pequod Buyer, Inc.<sup>(b),(h)</sup>  | BCPE Pequod Buyer, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>11/25/2031<br>| &nbsp;&nbsp; 6.417% | 2087222 | &nbsp;&nbsp; 2075909 |
| Boxer Parent Co., Inc.<sup>(b),(h)</sup>  | Boxer Parent Co., Inc.<sup>(b),(h)</sup>  | Boxer Parent Co., Inc.<sup>(b),(h)</sup>  | Boxer Parent Co., Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>07/30/2031<br>| &nbsp;&nbsp; 6.822% | 2974047 | &nbsp;&nbsp; 2855085 |
| Calabrio, Inc.<sup>(b),(h)</sup>  | Calabrio, Inc.<sup>(b),(h)</sup>  | Calabrio, Inc.<sup>(b),(h)</sup>  | Calabrio, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.000% <br>10/25/2032<br>| &nbsp;&nbsp; 7.835% | 1346571 | &nbsp;&nbsp; 1233796 |
| Central Parent LLC<sup>(b),(h)</sup>  | Central Parent LLC<sup>(b),(h)</sup>  | Central Parent LLC<sup>(b),(h)</sup>  | Central Parent LLC<sup>(b),(h)</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; 6.922% | 2984929 | &nbsp;&nbsp; 2381555 |
| Cloud Software Group, Inc.<sup>(b),(h)</sup>  | Cloud Software Group, Inc.<sup>(b),(h)</sup>  | Cloud Software Group, Inc.<sup>(b),(h)</sup>  | Cloud Software Group, Inc.<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 3-month Term SOFR + 3.250% <br>08/13/2032<br>| &nbsp;&nbsp; 6.922% | 2409567 | &nbsp;&nbsp; 2334268 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 3-month Term SOFR + 3.250% <br>03/21/2031<br>| &nbsp;&nbsp; 6.922% | 1279074 | &nbsp;&nbsp; 1238706 |
| Cloudera, Inc.<sup>(b),(h)</sup>  | Cloudera, Inc.<sup>(b),(h)</sup>  | Cloudera, Inc.<sup>(b),(h)</sup>  | Cloudera, Inc.<sup>(b),(h)</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; 7.522% | 3244850 | &nbsp;&nbsp; 2774347 |
| Coherent Corp.<sup>(b),(h)</sup>  | Coherent Corp.<sup>(b),(h)</sup>  | Coherent Corp.<sup>(b),(h)</sup>  | Coherent Corp.<sup>(b),(h)</sup>  |
| Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan | Tranche B3 Term Loan |
| 1-month Term SOFR + 1.750% <br>07/02/2029<br>| &nbsp;&nbsp; 5.422% | 1323980 | &nbsp;&nbsp; 1326191 |
| CoreLogic, Inc.<sup>(b),(h)</sup>  | CoreLogic, Inc.<sup>(b),(h)</sup>  | CoreLogic, Inc.<sup>(b),(h)</sup>  | CoreLogic, Inc.<sup>(b),(h)</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; 7.286% | 3590625 | &nbsp;&nbsp; 3578668 |
| Cornerstone OnDemand, Inc.<sup>(b),(h)</sup>  | Cornerstone OnDemand, Inc.<sup>(b),(h)</sup>  | Cornerstone OnDemand, Inc.<sup>(b),(h)</sup>  | Cornerstone OnDemand, Inc.<sup>(b),(h)</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>10/16/2028<br>| &nbsp;&nbsp; 7.536% | 1740957 | &nbsp;&nbsp; 1453699 |
| Cotiviti, Inc.<sup>(b),(h)</sup>  | Cotiviti, Inc.<sup>(b),(h)</sup>  | Cotiviti, Inc.<sup>(b),(h)</sup>  | Cotiviti, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>05/01/2031<br>| &nbsp;&nbsp; 6.450% | 3889580 | &nbsp;&nbsp; 3590588 |
| Darktrace Finco US LLC<sup>(b),(h)</sup>  | Darktrace Finco US LLC<sup>(b),(h)</sup>  | Darktrace Finco US LLC<sup>(b),(h)</sup>  | Darktrace Finco US LLC<sup>(b),(h)</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; 6.898% | 3286273 | &nbsp;&nbsp; 3195900 |
| DS Admiral Bidco LLC<sup>(b),(h)</sup>  | DS Admiral Bidco LLC<sup>(b),(h)</sup>  | DS Admiral Bidco LLC<sup>(b),(h)</sup>  | DS Admiral Bidco LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.250% <br>06/26/2031<br>| &nbsp;&nbsp; 7.922% | 1911901 | &nbsp;&nbsp; 1840204 |
| Ellucian Holdings, Inc.<sup>(b),(h)</sup>  | Ellucian Holdings, Inc.<sup>(b),(h)</sup>  | Ellucian Holdings, Inc.<sup>(b),(h)</sup>  | Ellucian Holdings, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 2.500% <br>10/09/2029<br>| &nbsp;&nbsp; 6.172% | 4083004 | &nbsp;&nbsp; 4032988 |
| Flash Charm, Inc.<sup>(b),(h)</sup>  | Flash Charm, Inc.<sup>(b),(h)</sup>  | Flash Charm, Inc.<sup>(b),(h)</sup>  | Flash Charm, Inc.<sup>(b),(h)</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; 7.354% | 908272 | &nbsp;&nbsp; 808816 |
| Flash Charm, Inc.<sup>(h)</sup>  | Flash Charm, Inc.<sup>(h)</sup>  | Flash Charm, Inc.<sup>(h)</sup>  | Flash Charm, Inc.<sup>(h)</sup>  |
| 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan | 2nd Lien Term Loan |
| 03/02/2029 | &nbsp;&nbsp; 10.574% | 836452 | &nbsp;&nbsp; 724326 |
| Fortress Intermediate 3, Inc.<sup>(b),(h)</sup>  | Fortress Intermediate 3, Inc.<sup>(b),(h)</sup>  | Fortress Intermediate 3, Inc.<sup>(b),(h)</sup>  | Fortress Intermediate 3, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 3.000% <br>06/27/2031<br>| &nbsp;&nbsp; 6.675% | 2968452 | &nbsp;&nbsp; 2909083 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Genesys Cloud Services Holdings I LLC<sup>(b),(h)</sup>  | Genesys Cloud Services Holdings I LLC<sup>(b),(h)</sup>  | Genesys Cloud Services Holdings I LLC<sup>(b),(h)</sup>  | Genesys Cloud Services Holdings I LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.500% <br>01/30/2032<br>| &nbsp;&nbsp; 6.172% | 3615241 | &nbsp;&nbsp; 3529379 |
| Icon Parent I, Inc.<sup>(b),(h)</sup>  | Icon Parent I, Inc.<sup>(b),(h)</sup>  | Icon Parent I, Inc.<sup>(b),(h)</sup>  | Icon Parent I, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 2.750% <br>11/13/2031<br>| &nbsp;&nbsp; 6.445% | 2601531 | &nbsp;&nbsp; 2556004 |
| Idemia Group SAS<sup>(b),(h)</sup>  | Idemia Group SAS<sup>(b),(h)</sup>  | Idemia Group SAS<sup>(b),(h)</sup>  | Idemia Group SAS<sup>(b),(h)</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; 7.922% | 3269301 | &nbsp;&nbsp; 3224348 |
| IGT Holding IV AB<sup>(b),(h),(i)</sup>  | IGT Holding IV AB<sup>(b),(h),(i)</sup>  | IGT Holding IV AB<sup>(b),(h),(i)</sup>  | IGT Holding IV AB<sup>(b),(h),(i)</sup>  |
| Tranche B7 Term Loan | Tranche B7 Term Loan | Tranche B7 Term Loan | Tranche B7 Term Loan |
| 3-month Term SOFR + 3.000% <br>09/01/2031<br>| &nbsp;&nbsp; 6.672% | 3166643 | &nbsp;&nbsp; 3127060 |
| ION Platform Finance US, Inc.<sup>(b),(h)</sup>  | ION Platform Finance US, Inc.<sup>(b),(h)</sup>  | ION Platform Finance US, Inc.<sup>(b),(h)</sup>  | ION Platform Finance US, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.750% <br>10/07/2032<br>| &nbsp;&nbsp; 7.422% | 3121005 | &nbsp;&nbsp; 2759499 |
| KnowBe4, Inc.<sup>(b),(e),(h)</sup>  | KnowBe4, Inc.<sup>(b),(e),(h)</sup>  | KnowBe4, Inc.<sup>(b),(e),(h)</sup>  | KnowBe4, Inc.<sup>(b),(e),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 3.750% <br>07/23/2032<br>| &nbsp;&nbsp; 7.417% | 1887934 | &nbsp;&nbsp; 1812416 |
| Loyalty Ventures, Inc.<sup>(e),(h),(j)</sup>  | Loyalty Ventures, Inc.<sup>(e),(h),(j)</sup>  | Loyalty Ventures, Inc.<sup>(e),(h),(j)</sup>  | Loyalty Ventures, Inc.<sup>(e),(h),(j)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 11/03/2027 |  | 2716857 | &nbsp;&nbsp; 217349 |
| McAfee Corp.<sup>(b),(h)</sup>  | McAfee Corp.<sup>(b),(h)</sup>  | McAfee Corp.<sup>(b),(h)</sup>  | McAfee Corp.<sup>(b),(h)</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; 6.672% | 3958864 | &nbsp;&nbsp; 3493697 |
| Mitchell International, Inc.<sup>(b),(h)</sup>  | Mitchell International, Inc.<sup>(b),(h)</sup>  | Mitchell International, Inc.<sup>(b),(h)</sup>  | Mitchell International, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.000% <br>06/17/2031<br>| &nbsp;&nbsp; 6.672% | 3689526 | &nbsp;&nbsp; 3603043 |
| Mitnick Corporate Purchaser, Inc.<sup>(b),(h)</sup>  | Mitnick Corporate Purchaser, Inc.<sup>(b),(h)</sup>  | Mitnick Corporate Purchaser, Inc.<sup>(b),(h)</sup>  | Mitnick Corporate Purchaser, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 4.750% <br>Floor 0.500% <br>05/02/2029<br>| &nbsp;&nbsp; 8.517% | 1168661 | &nbsp;&nbsp; 444091 |
| Neptune BidCo US, Inc.<sup>(b),(h)</sup>  | Neptune BidCo US, Inc.<sup>(b),(h)</sup>  | Neptune BidCo US, Inc.<sup>(b),(h)</sup>  | Neptune BidCo US, Inc.<sup>(b),(h)</sup>  |
| Tranche A Term Loan | Tranche A Term Loan | Tranche A Term Loan | Tranche A Term Loan |
| 3-month Term SOFR + 4.750% <br>10/11/2028<br>| &nbsp;&nbsp; 8.517% | 905592 | &nbsp;&nbsp; 904016 |
| Nielsen Consumer, Inc.<sup>(b),(h)</sup>  | Nielsen Consumer, Inc.<sup>(b),(h)</sup>  | Nielsen Consumer, Inc.<sup>(b),(h)</sup>  | Nielsen Consumer, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.250% <br>10/31/2030<br>| &nbsp;&nbsp; 5.922% | 4627912 | &nbsp;&nbsp; 4587418 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Peraton Corp.<sup>(b),(h)</sup>  | Peraton Corp.<sup>(b),(h)</sup>  | Peraton Corp.<sup>(b),(h)</sup>  | Peraton Corp.<sup>(b),(h)</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 + 3.750% <br>Floor 0.750% <br>02/01/2028<br>| &nbsp;&nbsp; 7.517% | 3848607 | &nbsp;&nbsp; 3549147 |
| Ping Identity Holding Corp.<sup>(b),(h)</sup>  | Ping Identity Holding Corp.<sup>(b),(h)</sup>  | Ping Identity Holding Corp.<sup>(b),(h)</sup>  | Ping Identity Holding Corp.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>11/15/2032<br>| &nbsp;&nbsp; 6.591% | 1876117 | &nbsp;&nbsp; 1858144 |
| PointClickCare Technologies, Inc.<sup>(b),(h)</sup>  | PointClickCare Technologies, Inc.<sup>(b),(h)</sup>  | PointClickCare Technologies, Inc.<sup>(b),(h)</sup>  | PointClickCare Technologies, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.750% <br>11/03/2031<br>| &nbsp;&nbsp; 6.422% | 1985025 | &nbsp;&nbsp; 1970971 |
| Project Boost Purchaser LLC<sup>(b),(h)</sup>  | Project Boost Purchaser LLC<sup>(b),(h)</sup>  | Project Boost Purchaser LLC<sup>(b),(h)</sup>  | Project Boost Purchaser LLC<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 2.750% <br>07/16/2031<br>| &nbsp;&nbsp; 6.422% | 3729298 | &nbsp;&nbsp; 3658702 |
| Proofpoint, Inc.<sup>(b),(h)</sup>  | Proofpoint, Inc.<sup>(b),(h)</sup>  | Proofpoint, Inc.<sup>(b),(h)</sup>  | Proofpoint, Inc.<sup>(b),(h)</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 |
| 6.7 x 3-month Term SOFR + 3.000% <br>08/31/2028<br>| &nbsp;&nbsp; 6.672% | 4667705 | &nbsp;&nbsp; 4629804 |
| Rackspace Finance LLC<sup>(b),(h)</sup>  | Rackspace Finance LLC<sup>(b),(h)</sup>  | Rackspace Finance LLC<sup>(b),(h)</sup>  | Rackspace Finance LLC<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 2.750% <br>Floor 0.750% <br>05/15/2028<br>| &nbsp;&nbsp; 6.545% | 2847373 | &nbsp;&nbsp; 760961 |
| Rocket Software, Inc.<sup>(b),(h)</sup>  | Rocket Software, Inc.<sup>(b),(h)</sup>  | Rocket Software, Inc.<sup>(b),(h)</sup>  | Rocket Software, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.750% <br>11/28/2028<br>| &nbsp;&nbsp; 7.422% | 1958401 | &nbsp;&nbsp; 1866611 |
| Sabre GLBL, Inc.<sup>(b),(h)</sup>  | Sabre GLBL, Inc.<sup>(b),(h)</sup>  | Sabre GLBL, Inc.<sup>(b),(h)</sup>  | Sabre GLBL, Inc.<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 1-month Term SOFR + 6.000% <br>Floor 0.500% <br>11/15/2029<br>| &nbsp;&nbsp; 9.772% | 1042284 | &nbsp;&nbsp; 813639 |
| Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan | Tranche B2 Term Loan |
| 1-month Term SOFR + 6.000% <br>Floor 0.500% <br>11/15/2029<br>| &nbsp;&nbsp; 9.772% | 1316978 | &nbsp;&nbsp; 1021751 |
| Sanmina Corp.<sup>(b),(h)</sup>  | Sanmina Corp.<sup>(b),(h)</sup>  | Sanmina Corp.<sup>(b),(h)</sup>  | Sanmina Corp.<sup>(b),(h)</sup>  |
| Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan | Tranche B1 Term Loan |
| 1-month Term SOFR + 2.000% <br>10/27/2032<br>| &nbsp;&nbsp; 5.700% | 1726538 | &nbsp;&nbsp; 1730855 |
| Sophos Holdings SARL<sup>(b),(h)</sup>  | Sophos Holdings SARL<sup>(b),(h)</sup>  | Sophos Holdings SARL<sup>(b),(h)</sup>  | Sophos Holdings SARL<sup>(b),(h)</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; 7.286% | 754203 | &nbsp;&nbsp; 746661 |
| Sovos Compliance LLC<sup>(b),(h)</sup>  | Sovos Compliance LLC<sup>(b),(h)</sup>  | Sovos Compliance LLC<sup>(b),(h)</sup>  | Sovos Compliance LLC<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 1-month Term SOFR + 3.250% <br>08/13/2029<br>| &nbsp;&nbsp; 6.922% | 4433257 | &nbsp;&nbsp; 4313559 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| SS&C Technologies, Inc.<sup>(b),(h)</sup>  | SS&C Technologies, Inc.<sup>(b),(h)</sup>  | SS&C Technologies, Inc.<sup>(b),(h)</sup>  | SS&C Technologies, Inc.<sup>(b),(h)</sup>  |
| Tranche B8 Term Loan | Tranche B8 Term Loan | Tranche B8 Term Loan | Tranche B8 Term Loan |
| 1-month Term SOFR + 2.000% <br>05/09/2031<br>| &nbsp;&nbsp; 5.672% | 936487 | &nbsp;&nbsp; 935635 |
| Storable, Inc.<sup>(b),(h)</sup>  | Storable, Inc.<sup>(b),(h)</sup>  | Storable, Inc.<sup>(b),(h)</sup>  | Storable, Inc.<sup>(b),(h)</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; 6.922% | 1771814 | &nbsp;&nbsp; 1727518 |
| UKG, Inc.<sup>(b),(h)</sup>  | UKG, Inc.<sup>(b),(h)</sup>  | UKG, Inc.<sup>(b),(h)</sup>  | UKG, Inc.<sup>(b),(h)</sup>  |
| 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan | 1st Lien Term Loan |
| 3-month Term SOFR + 2.500% <br>02/10/2031<br>| &nbsp;&nbsp; 6.167% | 4866516 | &nbsp;&nbsp; 4738770 |
| Ultra Clean Holdings, Inc.<sup>(b),(h)</sup>  | Ultra Clean Holdings, Inc.<sup>(b),(h)</sup>  | Ultra Clean Holdings, Inc.<sup>(b),(h)</sup>  | Ultra Clean Holdings, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.750% <br>02/25/2028<br>| &nbsp;&nbsp; 6.422% | 1360841 | &nbsp;&nbsp; 1363400 |
| Virtusa Corp.<sup>(b),(h)</sup>  | Virtusa Corp.<sup>(b),(h)</sup>  | Virtusa Corp.<sup>(b),(h)</sup>  | Virtusa Corp.<sup>(b),(h)</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; 6.922% | 3349215 | &nbsp;&nbsp; 3290604 |
| VS Buyer LLC<sup>(b),(h)</sup>  | VS Buyer LLC<sup>(b),(h)</sup>  | VS Buyer LLC<sup>(b),(h)</sup>  | VS Buyer LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 2.250% <br>04/12/2031<br>| &nbsp;&nbsp; 5.917% | 1651277 | &nbsp;&nbsp; 1630636 |
| World Wide Technology Holding Co. LLC<sup>(b),(h)</sup>  | World Wide Technology Holding Co. LLC<sup>(b),(h)</sup>  | World Wide Technology Holding Co. LLC<sup>(b),(h)</sup>  | World Wide Technology Holding Co. LLC<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 2.000% <br>03/01/2030<br>| &nbsp;&nbsp; 5.672% | 1487513 | &nbsp;&nbsp; 1491231 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **129225162** |
| **Tobacco 0.1%** | **Tobacco 0.1%** | **Tobacco 0.1%** | **Tobacco 0.1%** |
| Savor Acquisition, Inc.<sup>(b),(h)</sup>  | Savor Acquisition, Inc.<sup>(b),(h)</sup>  | Savor Acquisition, Inc.<sup>(b),(h)</sup>  | Savor Acquisition, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.000% <br>02/19/2032<br>| &nbsp;&nbsp; 6.667% | 442945 | &nbsp;&nbsp; 443778 |
| **Transportation Services 2.2%** | **Transportation Services 2.2%** | **Transportation Services 2.2%** | **Transportation Services 2.2%** |
| Apple Bidco LLC<sup>(b),(h)</sup>  | Apple Bidco LLC<sup>(b),(h)</sup>  | Apple Bidco LLC<sup>(b),(h)</sup>  | Apple Bidco LLC<sup>(b),(h)</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; 6.172% | 3656395 | &nbsp;&nbsp; 3655554 |
| Beacon Mobility Corp.<sup>(b),(h),(i),(k)</sup>  | Beacon Mobility Corp.<sup>(b),(h),(i),(k)</sup>  | Beacon Mobility Corp.<sup>(b),(h),(i),(k)</sup>  | Beacon Mobility Corp.<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 3.250% <br>08/06/2030<br>| &nbsp;&nbsp; 5.490% | 334382 | &nbsp;&nbsp; 334104 |
| Beacon Mobility Corp.<sup>(b),(h)</sup>  | Beacon Mobility Corp.<sup>(b),(h)</sup>  | Beacon Mobility Corp.<sup>(b),(h)</sup>  | Beacon Mobility Corp.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>08/06/2030<br>| &nbsp;&nbsp; 6.922% | 2440985 | &nbsp;&nbsp; 2438959 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| First Student Bidco, Inc.<sup>(b),(h)</sup>  | First Student Bidco, Inc.<sup>(b),(h)</sup>  | First Student Bidco, Inc.<sup>(b),(h)</sup>  | First Student Bidco, Inc.<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.500% <br>08/15/2030<br>| &nbsp;&nbsp; 6.172% | 3416303 | &nbsp;&nbsp; 3409914 |
| Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan | Tranche C Term Loan |
| 3-month Term SOFR + 2.500% <br>08/15/2030<br>| &nbsp;&nbsp; 6.172% | 625098 | &nbsp;&nbsp; 623379 |
| Signature Aviation US Holdings, Inc.<sup>(b),(h)</sup>  | Signature Aviation US Holdings, Inc.<sup>(b),(h)</sup>  | Signature Aviation US Holdings, Inc.<sup>(b),(h)</sup>  | Signature Aviation US Holdings, Inc.<sup>(b),(h)</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; 6.215% | 3075346 | &nbsp;&nbsp; 3073439 |
| Student Transportation of America Holdings, Inc<sup>(b),(h),(i),(k)</sup>  | Student Transportation of America Holdings, Inc<sup>(b),(h),(i),(k)</sup>  | Student Transportation of America Holdings, Inc<sup>(b),(h),(i),(k)</sup>  | Student Transportation of America Holdings, Inc<sup>(b),(h),(i),(k)</sup>  |
| Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan | Delayed Draw Term Loan |
| 3-month Term SOFR + 1.750% <br>06/24/2032<br>|  | 86136 | &nbsp;&nbsp; 86486 |
| Student Transportation of America Holdings, Inc<sup>(b),(h)</sup>  | Student Transportation of America Holdings, Inc<sup>(b),(h)</sup>  | Student Transportation of America Holdings, Inc<sup>(b),(h)</sup>  | Student Transportation of America Holdings, Inc<sup>(b),(h)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 3-month Term SOFR + 2.750% <br>06/24/2032<br>| &nbsp;&nbsp; 6.402% | 1340517 | &nbsp;&nbsp; 1345960 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **14967795** |
| **Wireless 0.6%** | **Wireless 0.6%** | **Wireless 0.6%** | **Wireless 0.6%** |
| Crown Subsea Communications Holding, Inc.<sup>(b),(h)</sup>  | Crown Subsea Communications Holding, Inc.<sup>(b),(h)</sup>  | Crown Subsea Communications Holding, Inc.<sup>(b),(h)</sup>  | Crown Subsea Communications Holding, Inc.<sup>(b),(h)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.500% <br>01/30/2031<br>| &nbsp;&nbsp; 7.172% | 4037163 | &nbsp;&nbsp; 4043461 |
| Total Senior Loans <br>(Cost $657,132,714) | Total Senior Loans <br>(Cost $657,132,714) | Total Senior Loans <br>(Cost $657,132,714) | &nbsp;&nbsp; **636279485** |

---

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

---

| | | |
|:---|:---|:---|
| **Warrants 0.0%** | **Warrants 0.0%** | **Warrants 0.0%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 0.0%** | **Communication Services 0.0%** | **Communication Services 0.0%** |
| **Diversified Telecommunication Services 0.0%** | **Diversified Telecommunication Services 0.0%** | **Diversified Telecommunication Services 0.0%** |
| Uniti Group, Inc.<sup>(c)</sup> <br>08/01/2028<br>| &nbsp;&nbsp; 32155 | &nbsp;&nbsp; 267530 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **267530** |
| Total Warrants <br>(Cost $184,248) | Total Warrants <br>(Cost $184,248) | &nbsp;&nbsp; **267530** |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(l),(m)</sup> <br>| &nbsp;&nbsp; 23794799 | &nbsp;&nbsp; 23787660 |
| Total Money Market Funds <br>(Cost $23,788,404) | Total Money Market Funds <br>(Cost $23,788,404) | &nbsp;&nbsp; **23787660** |
| **Total Investments in Securities** <br>**(Cost: $735,265,632)** | **Total Investments in Securities** <br>**(Cost: $735,265,632)** | &nbsp;&nbsp; **713707722** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(19448956)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **694258766** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $38,827,550, which represents 5.59% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Variable rate security. The interest rate shown was the current rate as of January 31, 2026.

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2026, the total value of these securities amounted to $1,053,004, which represents 0.15% of total net assets.

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(h) The stated interest rate represents the weighted average interest rate at January 31, 2026 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;(i) Represents a security purchased on a forward commitment basis.

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

&nbsp;&nbsp;&nbsp;&nbsp;(k) At January 31, 2026, 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.

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

---

| | |
|:---|:---|
| **Borrower** | **Unfunded Commitment ($)** |
| Beacon Mobility Corp. <br>Delayed Draw Term Loan <br>08/06/2030 5.490%<br>| 130409 |
| Chicago US Midco III LP <br>Delayed Draw Term Loan <br>10/30/2032 1.250%<br>| 193296 |
| June Purchaser LLC <br>Delayed Draw Term Loan <br>11/28/2031 2.750%<br>| 237910 |
| MRP Buyer LLC <br>Delayed Draw Term Loan <br>06/03/2032 5.461%<br>| 126108 |
| Peninsula Pacific Entertainment Development LLC <br>Delayed Draw Term Loan <br>08/16/2032 2.375%<br>| 303362 |
| Raven Acquisition Holdings LLC <br>Delayed Draw Term Loan <br>11/19/2031 3.000%<br>| 254922 |
| Student Transportation of America Holdings, Inc <br>Delayed Draw Term Loan <br>06/24/2032 <br>| 86136 |

---

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Borrower** | **Unfunded Commitment ($)** |
| USALCO LLC <br>Delayed Draw Term Loan <br>09/30/2031 1.000%<br>| 143822 |

---

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(m) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended January 31, 2026 are as follows:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% |
|  | 38135320 | &nbsp;&nbsp; 107924524 | &nbsp;&nbsp; (122271499)<br>| &nbsp;&nbsp; (685)<br>| &nbsp;&nbsp; 23787660 | &nbsp;&nbsp; (1146)<br>| &nbsp;&nbsp; 605095 | &nbsp;&nbsp; 23794799 |

---

**Abbreviation Legend** 

SOFR Secured Overnight Financing Rate

**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.

Values of foreign equity securities actively traded in markets where there is a significant delay in the local close relative to the New York Stock Exchange may include an adjustment to reflect the impact of market movements following the close of local trading, as described in Note 2 to the financial statements – Security valuation. When such adjustments have been made, the foreign equity securities are classified as Level 2.

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

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 31058870 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 31058870 |
| Common Stocks |  |  |  |  |
| Communication Services | 1789142 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1789142 |
| Consumer Discretionary | 326734 | &nbsp;&nbsp;&nbsp;&nbsp; 3841 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 330575 |
| Energy |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 935223 | &nbsp;&nbsp;&nbsp;&nbsp; 935223 |
| Financials |  | &nbsp;&nbsp;&nbsp;&nbsp; 2529 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2529 |
| Health Care |  | &nbsp;&nbsp;&nbsp;&nbsp; 514239 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 514239 |
| Industrials |  | &nbsp;&nbsp;&nbsp;&nbsp; 39483 | &nbsp;&nbsp;&nbsp;&nbsp; 31706 | &nbsp;&nbsp;&nbsp;&nbsp; 71189 |
| Information Technology |  | &nbsp;&nbsp;&nbsp;&nbsp; 610097 | &nbsp;&nbsp;&nbsp;&nbsp; 479 | &nbsp;&nbsp;&nbsp;&nbsp; 610576 |
| Materials |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| Total Common Stocks | 2115876 | &nbsp;&nbsp;&nbsp;&nbsp; 1170189 | &nbsp;&nbsp;&nbsp;&nbsp; 967410 | &nbsp;&nbsp;&nbsp;&nbsp; 4253475 |
| Convertible Preferred Stocks |  |  |  |  |
| Communication Services |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1053000 | &nbsp;&nbsp;&nbsp;&nbsp; 1053000 |
| Information Technology |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>|
| Total Convertible Preferred Stocks |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1053000 | &nbsp;&nbsp;&nbsp;&nbsp; 1053000 |
| Corporate Bonds & Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 9175902 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9175902 |
| Exchange-Traded Fixed Income Funds | 7831800 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7831800 |
| Senior Loans |  | &nbsp;&nbsp;&nbsp;&nbsp; 629086923 | &nbsp;&nbsp;&nbsp;&nbsp; 7192562 | &nbsp;&nbsp;&nbsp;&nbsp; 636279485 |
| Warrants |  |  |  |  |
| Communication Services |  | &nbsp;&nbsp;&nbsp;&nbsp; 267530 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 267530 |
| Total Warrants |  | &nbsp;&nbsp;&nbsp;&nbsp; 267530 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 267530 |
| Money Market Funds | 23787660 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23787660 |
| Total Investments in Securities | 33735336 | &nbsp;&nbsp;&nbsp;&nbsp; 670759414 | &nbsp;&nbsp;&nbsp;&nbsp; 9212972 | &nbsp;&nbsp;&nbsp;&nbsp; 713707722 |

---

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

\* Rounds to zero.

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. These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The model utilized by such third party statistical pricing service takes into account a security's correlation to available market data including relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable.

The following table is a reconciliation of Level 3 assets for which significant observable and unobservable inputs were used to determine fair value:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Balance** <br>**as of** <br>**07/31/2025** <br>**($)**<br>| **Increase** <br>**(decrease)** <br>**in accrued** <br>**discounts/** <br>**premiums** <br>**($)**<br>| **Realized** <br>**gain (loss)** <br>**($)**<br>| **Change** <br>**in unrealized** <br>**appreciation** <br>**(depreciation)**<sup>(a)</sup> <br>**($)**<br>| **Purchases** <br>**($)**<br>| **Sales** <br>**($)**<br>| **Transfers** <br>**into** <br>**Level 3** <br>**($)**<br>| **Transfers** <br>**out of** <br>**Level 3** <br>**($)**<br>| **Balance** <br>**as of** <br>**01/31/2026** <br>**($)**<br>|
| Common Stocks | 12096<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 407081<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 548233<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 967410<br>|
| Convertible Preferred Stocks  | -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1053000<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; 1053000<br>|
| Rights | 488703<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; (145380)<br>| &nbsp;&nbsp; (159075)<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; (184248)<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; -<br>|
| Senior Loans | 9096792<br>| &nbsp;&nbsp; 59651<br>| &nbsp;&nbsp; 15208<br>| &nbsp;&nbsp; (188891)<br>| &nbsp;&nbsp; -<br>| &nbsp;&nbsp; (3520288)<br>| &nbsp;&nbsp; 7920069<br>| &nbsp;&nbsp; (6189979)<br>| &nbsp;&nbsp; 7192562<br>|
| **Total** | **9597591**<br>| &nbsp;&nbsp; **59651**<br>| &nbsp;&nbsp; **(130172)**<br>| &nbsp;&nbsp; **59115**<br>| &nbsp;&nbsp; **1053000**<br>| &nbsp;&nbsp; **(3704536)**<br>| &nbsp;&nbsp; **8468302**<br>| &nbsp;&nbsp; **(6189979)**<br>| &nbsp;&nbsp; **9212972**<br>|

---

(a) Change in unrealized appreciation (depreciation) relating to securities held at January 31, 2026 was $231,264, which is comprised of Common stock of $407,081 and Senior Loans of $(175,817).

Financial assets were transferred from Level 2 to Level 3 due to utilizing a single market quotation from a broker dealer. As a result, management concluded that the market input(s) were generally unobservable.

Financial assets were transferred from Level 3 to Level 2 as observable market inputs were utilized and management determined that there was sufficient, reliable, and observable market data to value these assets as of period end.

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

Columbia Floating Rate Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

The Fund's assets assigned to the Level 3 category are valued utilizing the valuation technique deemed the most appropriate in the circumstances. The following table is a summary of valuation technique(s) used to value the Fund's investments at January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Valuation Technique** | **Value ($)** |
| Common Stocks |  |  |
| Communication Services | Market Approach | &nbsp;&nbsp; 0 |
| Energy | Market Approach | &nbsp;&nbsp; 2 |
| Energy | Single Market Quotes from Broker | &nbsp;&nbsp; 935221 |
| Industrials | Single Market Quotes from Broker | &nbsp;&nbsp; 31706 |
| Information Technology | Single Market Quotes from Broker | &nbsp;&nbsp; 479 |
| Materials | Market Approach | &nbsp;&nbsp; 2 |
| Convertible Preferred Stocks |  |  |
| Communication Services | Market Approach | &nbsp;&nbsp; 1053000 |
| Information Technology | Market Approach | &nbsp;&nbsp; 0 |
| Senior Loans | Single Market Quotes from Broker | &nbsp;&nbsp; 7192562 |
| Total |  | &nbsp;&nbsp; 9212972 |

---

The appropriateness of fair values for these securities is monitored on an ongoing basis which may include results of back testing, manual price reviews and other control procedures. Significant increases (decreases) to any of these inputs would have resulted in a significantly higher (lower) fair value measurement.

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

Columbia Floating Rate Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $711,477,228) | $689920062 |
| Affiliated issuers (cost $23,788,404) | 23787660 |
| Cash | 3712385 |
| Receivable for: |  |
| Investments sold on a delayed delivery basis  | 5363619 |
| Capital shares sold | 3889397 |
| Dividends | 71392 |
| Interest | 2473797 |
| Expense reimbursement due from Investment Manager | 381 |
| Prepaid expenses | 3781 |
| Other assets | 9416 |
| Total assets | 729231890 |
| **Liabilities** |  |
| Payable for: |  |
| Investments purchased on a delayed delivery basis | 29551386 |
| Capital shares redeemed | 1236734 |
| Distributions to shareholders | 3920463 |
| Management services fees | 12291 |
| Distribution and/or service fees | 1753 |
| Transfer agent fees | 37365 |
| Compensation of chief compliance officer | 60 |
| Compensation of board members | 1013 |
| Other expenses | 59921 |
| Deferred compensation of board members | 152138 |
| Total liabilities | 34973124 |
| **Net assets applicable to outstanding capital stock** | **$694258766** |
| **Represented by** |  |
| Paid in capital | 837847808 |
| Total distributable earnings (loss) | (143589042)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$694258766** |
| **Class A** |  |
| Net assets | $163189895 |
| Shares outstanding | 4965201 |
| Net asset value per share | $32.87 |
| 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) | $33.89 |
| **Class C** |  |
| Net assets | $23261027 |
| Shares outstanding | 707604 |
| Net asset value per share | $32.87 |
| **Institutional Class** |  |
| Net assets | $291263182 |
| Shares outstanding | 8874221 |
| Net asset value per share | $32.82 |
| **Institutional 2 Class** |  |
| Net assets | $123808988 |
| Shares outstanding | 3751959 |
| Net asset value per share | $33.00 |
| **Institutional 3 Class** |  |
| Net assets | $92735674 |
| Shares outstanding | 2822922 |
| Net asset value per share | $32.85 |

---

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

Columbia Floating Rate Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $282441 |
| Dividends — affiliated issuers | 605095 |
| Interest | 26413593 |
| Interfund lending | 2415 |
| Total income | 27303544 |
| Expenses: |  |
| Management services fees | 2359211 |
| Distribution and/or service fees |  |
| Class A | 215151 |
| Class C | 127173 |
| Transfer agent fees |  |
| Class A | 70373 |
| Class C | 10397 |
| Institutional Class | 131852 |
| Institutional 2 Class | 20644 |
| Institutional 3 Class | 1902 |
| Custodian fees | 6830 |
| Printing and postage fees | 21953 |
| Registration fees | 47129 |
| Accounting services fees | 27106 |
| Legal fees | 15259 |
| Compensation of chief compliance officer | 60 |
| Compensation of board members | 9481 |
| Deferred compensation of board members | 18762 |
| Other | 51042 |
| Total expenses | 3134325 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (119072)<br>|
| Total net expenses | 3015253 |
| **Net investment income** | 24288291 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | (3204920)<br>|
| Investments — affiliated issuers | (1146)<br>|
| Net realized loss | (3206066)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | (10117796)<br>|
| Investments — affiliated issuers | (685)<br>|
| Net change in unrealized appreciation (depreciation) | (10118481)<br>|
| Net realized and unrealized loss | (13324547)<br>|
| **Net increase in net assets resulting from operations** | **$10963744** |

---

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

Columbia Floating Rate Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $24288291 | &nbsp;&nbsp; $56812382 |
| Net realized loss | (3206066)<br>| &nbsp;&nbsp; (6567950)<br>|
| Net change in unrealized appreciation (depreciation) | (10118481)<br>| &nbsp;&nbsp; 2636341 |
| Net increase in net assets resulting from operations | 10963744 | &nbsp;&nbsp; 52880773 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (5728488)<br>| &nbsp;&nbsp; (13558636)<br>|
| Advisor Class |  | &nbsp;&nbsp; (345351)<br>|
| Class C | (750293)<br>| &nbsp;&nbsp; (1761474)<br>|
| Institutional Class | (11135276)<br>| &nbsp;&nbsp; (24459611)<br>|
| Institutional 2 Class | (3967531)<br>| &nbsp;&nbsp; (8342142)<br>|
| Institutional 3 Class | (3322290)<br>| &nbsp;&nbsp; (6866372)<br>|
| Total distributions to shareholders | (24903878)<br>| &nbsp;&nbsp; (55333586)<br>|
| Increase (decrease) in net assets from capital stock activity | (43292396)<br>| &nbsp;&nbsp; 167752 |
| Total decrease in net assets | (57232530)<br>| &nbsp;&nbsp; (2285061)<br>|
| Net assets at beginning of period | 751491296 | &nbsp;&nbsp; 753776357 |
| **Net assets at end of period** | **$694258766** | &nbsp;&nbsp; **$751491296** |

---

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

Columbia Floating Rate Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 319824 | &nbsp;&nbsp;&nbsp;&nbsp; 10647386 | &nbsp;&nbsp;&nbsp;&nbsp; 749465 | &nbsp;&nbsp;&nbsp;&nbsp; 25062147 |
| Distributions reinvested | 165620 | &nbsp;&nbsp;&nbsp;&nbsp; 5508364 | &nbsp;&nbsp;&nbsp;&nbsp; 391094 | &nbsp;&nbsp;&nbsp;&nbsp; 13073356 |
| Shares redeemed | (898021)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (29904984)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1906232)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (63654735)<br>|
| Net decrease | (412577)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13749234)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (765673)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25519232)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 261176 | &nbsp;&nbsp;&nbsp;&nbsp; 8766170 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8295 | &nbsp;&nbsp;&nbsp;&nbsp; 277438 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (746436)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25057364)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (476965)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (16013756)<br>|
| Class C |  |  |  |  |
| Shares sold | 56060 | &nbsp;&nbsp;&nbsp;&nbsp; 1870053 | &nbsp;&nbsp;&nbsp;&nbsp; 237905 | &nbsp;&nbsp;&nbsp;&nbsp; 7964760 |
| Distributions reinvested | 21671 | &nbsp;&nbsp;&nbsp;&nbsp; 720886 | &nbsp;&nbsp;&nbsp;&nbsp; 49303 | &nbsp;&nbsp;&nbsp;&nbsp; 1648231 |
| Shares redeemed | (159593)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5312573)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (337856)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (11275058)<br>|
| Net decrease | (81862)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2721634)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (50648)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1662067)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 981255 | &nbsp;&nbsp;&nbsp;&nbsp; 32636742 | &nbsp;&nbsp;&nbsp;&nbsp; 4492297 | &nbsp;&nbsp;&nbsp;&nbsp; 150096637 |
| Distributions reinvested | 303612 | &nbsp;&nbsp;&nbsp;&nbsp; 10084813 | &nbsp;&nbsp;&nbsp;&nbsp; 657367 | &nbsp;&nbsp;&nbsp;&nbsp; 21940051 |
| Shares redeemed | (2616655)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (86984796)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4993875)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (166416925)<br>|
| Net increase (decrease) | (1331788)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (44263241)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 155789 | &nbsp;&nbsp;&nbsp;&nbsp; 5619763 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 692104 | &nbsp;&nbsp;&nbsp;&nbsp; 23135534 | &nbsp;&nbsp;&nbsp;&nbsp; 4275228 | &nbsp;&nbsp;&nbsp;&nbsp; 144117555 |
| Distributions reinvested | 92776 | &nbsp;&nbsp;&nbsp;&nbsp; 3096606 | &nbsp;&nbsp;&nbsp;&nbsp; 216194 | &nbsp;&nbsp;&nbsp;&nbsp; 7255283 |
| Shares redeemed | (279910)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9370794)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3580289)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (119363986)<br>|
| Net increase | 504970 | &nbsp;&nbsp;&nbsp;&nbsp; 16861346 | &nbsp;&nbsp;&nbsp;&nbsp; 911133 | &nbsp;&nbsp;&nbsp;&nbsp; 32008852 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 131687 | &nbsp;&nbsp;&nbsp;&nbsp; 4394712 | &nbsp;&nbsp;&nbsp;&nbsp; 248528 | &nbsp;&nbsp;&nbsp;&nbsp; 8315148 |
| Distributions reinvested | 96682 | &nbsp;&nbsp;&nbsp;&nbsp; 3213469 | &nbsp;&nbsp;&nbsp;&nbsp; 199573 | &nbsp;&nbsp;&nbsp;&nbsp; 6667349 |
| Shares redeemed | (211225)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7027814)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (277374)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9248305)<br>|
| Net increase | 17144 | &nbsp;&nbsp;&nbsp;&nbsp; 580367 | &nbsp;&nbsp;&nbsp;&nbsp; 170727 | &nbsp;&nbsp;&nbsp;&nbsp; 5734192 |
| **Total net increase (decrease)** | **(1304113)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(43292396)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(55637)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **167752** |

---

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

Columbia Floating Rate Fund \| 2026

------

Financial Highlights

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $33.51 | 1.08 | &nbsp;&nbsp; (0.61)<br>| 0.47 | &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp; (1.11)<br>|
| Year Ended 7/31/2025 | $33.54 | 2.47 | &nbsp;&nbsp; (0.10)<br>| 2.37 | &nbsp;&nbsp; (2.40)<br>| &nbsp;&nbsp; (2.40)<br>|
| Year Ended 7/31/2024 | $33.43 | 2.79 | 0.17 | 2.96 | &nbsp;&nbsp; (2.85)<br>| &nbsp;&nbsp; (2.85)<br>|
| Year Ended 7/31/2023 | $33.27 | 2.42 | 0.23 | 2.65 | &nbsp;&nbsp; (2.49)<br>| &nbsp;&nbsp; (2.49)<br>|
| Year Ended 7/31/2022 | $35.28 | 1.15 | &nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (1.08)<br>| &nbsp;&nbsp; (1.08)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $33.22 | 1.12 | 1.98 | 3.10 | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.04)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $33.52 | 0.96 | &nbsp;&nbsp; (0.62)<br>| 0.34 | &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp; (0.99)<br>|
| Year Ended 7/31/2025 | $33.54 | 2.21 | &nbsp;&nbsp; (0.08)<br>| 2.13 | &nbsp;&nbsp; (2.15)<br>| &nbsp;&nbsp; (2.15)<br>|
| Year Ended 7/31/2024 | $33.44 | 2.53 | 0.16 | 2.69 | &nbsp;&nbsp; (2.59)<br>| &nbsp;&nbsp; (2.59)<br>|
| Year Ended 7/31/2023 | $33.28 | 2.17 | 0.23 | 2.40 | &nbsp;&nbsp; (2.24)<br>| &nbsp;&nbsp; (2.24)<br>|
| Year Ended 7/31/2022 | $35.29 | 0.89 | &nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp; (0.82)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $33.23 | 0.87 | 1.97 | 2.84 | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp; (0.78)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $33.47 | 1.13 | &nbsp;&nbsp; (0.63)<br>| 0.50 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; (1.15)<br>|
| Year Ended 7/31/2025 | $33.49 | 2.54 | &nbsp;&nbsp; (0.08)<br>| 2.46 | &nbsp;&nbsp; (2.48)<br>| &nbsp;&nbsp; (2.48)<br>|
| Year Ended 7/31/2024 | $33.39 | 2.86 | 0.17 | 3.03 | &nbsp;&nbsp; (2.93)<br>| &nbsp;&nbsp; (2.93)<br>|
| Year Ended 7/31/2023 | $33.22 | 2.47 | 0.27 | 2.74 | &nbsp;&nbsp; (2.57)<br>| &nbsp;&nbsp; (2.57)<br>|
| Year Ended 7/31/2022 | $35.23 | 1.26 | &nbsp;&nbsp; (2.10)<br>| &nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp; (1.17)<br>| &nbsp;&nbsp; (1.17)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $33.18 | 1.21 | 1.96 | 3.17 | &nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp; (1.12)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $33.65 | 1.14 | &nbsp;&nbsp; (0.62)<br>| 0.52 | &nbsp;&nbsp; (1.17)<br>| &nbsp;&nbsp; (1.17)<br>|
| Year Ended 7/31/2025 | $33.67 | 2.54 | &nbsp;&nbsp; (0.06)<br>| 2.48 | &nbsp;&nbsp; (2.50)<br>| &nbsp;&nbsp; (2.50)<br>|
| Year Ended 7/31/2024 | $33.56 | 2.90 | 0.16 | 3.06 | &nbsp;&nbsp; (2.95)<br>| &nbsp;&nbsp; (2.95)<br>|
| Year Ended 7/31/2023 | $33.40 | 2.50 | 0.26 | 2.76 | &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (2.60)<br>|
| Year Ended 7/31/2022 | $35.42 | 1.22 | &nbsp;&nbsp; (2.05)<br>| &nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp; (1.19)<br>| &nbsp;&nbsp; (1.19)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $33.35 | 1.22 | 1.99 | 3.21 | &nbsp;&nbsp; (1.14)<br>| &nbsp;&nbsp; (1.14)<br>|

---

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

Columbia Floating Rate Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $32.87 | &nbsp;&nbsp;&nbsp;&nbsp; 1.42% | &nbsp;&nbsp;&nbsp;&nbsp; 1.03% | &nbsp;&nbsp;&nbsp;&nbsp; 1.00% | &nbsp;&nbsp;&nbsp;&nbsp; 6.49% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $163190 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $33.51 | &nbsp;&nbsp;&nbsp;&nbsp; 7.31% | &nbsp;&nbsp;&nbsp;&nbsp; 1.06% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.00% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.39% | &nbsp;&nbsp;&nbsp;&nbsp; 84% | &nbsp;&nbsp;&nbsp;&nbsp; $180226 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $33.54 | &nbsp;&nbsp;&nbsp;&nbsp; 9.17% | &nbsp;&nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp;&nbsp;&nbsp; 0.99% | &nbsp;&nbsp;&nbsp;&nbsp; 8.29% | &nbsp;&nbsp;&nbsp;&nbsp; 80% | &nbsp;&nbsp;&nbsp;&nbsp; $206040 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $33.43 | &nbsp;&nbsp;&nbsp;&nbsp; 8.32% | &nbsp;&nbsp;&nbsp;&nbsp; 1.05% | &nbsp;&nbsp;&nbsp;&nbsp; 1.01% | &nbsp;&nbsp;&nbsp;&nbsp; 7.27% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $214863 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $33.27 | &nbsp;&nbsp;&nbsp;&nbsp; (2.70%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.04% | &nbsp;&nbsp;&nbsp;&nbsp; 1.02% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.33% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $249880 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $35.28 | &nbsp;&nbsp;&nbsp;&nbsp; 9.35% | &nbsp;&nbsp;&nbsp;&nbsp; 1.06% | &nbsp;&nbsp;&nbsp;&nbsp; 1.02% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.24% | &nbsp;&nbsp;&nbsp;&nbsp; 75% | &nbsp;&nbsp;&nbsp;&nbsp; $212382 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $32.87 | &nbsp;&nbsp;&nbsp;&nbsp; 1.01% | &nbsp;&nbsp;&nbsp;&nbsp; 1.78% | &nbsp;&nbsp;&nbsp;&nbsp; 1.75% | &nbsp;&nbsp;&nbsp;&nbsp; 5.74% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $23261 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $33.52 | &nbsp;&nbsp;&nbsp;&nbsp; 6.55% | &nbsp;&nbsp;&nbsp;&nbsp; 1.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.75% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.62% | &nbsp;&nbsp;&nbsp;&nbsp; 84% | &nbsp;&nbsp;&nbsp;&nbsp; $26462 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $33.54 | &nbsp;&nbsp;&nbsp;&nbsp; 8.32% | &nbsp;&nbsp;&nbsp;&nbsp; 1.77% | &nbsp;&nbsp;&nbsp;&nbsp; 1.74% | &nbsp;&nbsp;&nbsp;&nbsp; 7.53% | &nbsp;&nbsp;&nbsp;&nbsp; 80% | &nbsp;&nbsp;&nbsp;&nbsp; $28181 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $33.44 | &nbsp;&nbsp;&nbsp;&nbsp; 7.50% | &nbsp;&nbsp;&nbsp;&nbsp; 1.80% | &nbsp;&nbsp;&nbsp;&nbsp; 1.76% | &nbsp;&nbsp;&nbsp;&nbsp; 6.50% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $25376 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $33.28 | &nbsp;&nbsp;&nbsp;&nbsp; (3.43%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.79% | &nbsp;&nbsp;&nbsp;&nbsp; 1.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.56% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $31167 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $35.29 | &nbsp;&nbsp;&nbsp;&nbsp; 8.56% | &nbsp;&nbsp;&nbsp;&nbsp; 1.81% | &nbsp;&nbsp;&nbsp;&nbsp; 1.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.52% | &nbsp;&nbsp;&nbsp;&nbsp; 75% | &nbsp;&nbsp;&nbsp;&nbsp; $30173 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $32.82 | &nbsp;&nbsp;&nbsp;&nbsp; 1.52% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 6.74% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $291263 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $33.47 | &nbsp;&nbsp;&nbsp;&nbsp; 7.61% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.62% | &nbsp;&nbsp;&nbsp;&nbsp; 84% | &nbsp;&nbsp;&nbsp;&nbsp; $341564 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $33.49 | &nbsp;&nbsp;&nbsp;&nbsp; 9.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 8.54% | &nbsp;&nbsp;&nbsp;&nbsp; 80% | &nbsp;&nbsp;&nbsp;&nbsp; $336602 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $33.39 | &nbsp;&nbsp;&nbsp;&nbsp; 8.62% | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 7.41% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $278860 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $33.22 | &nbsp;&nbsp;&nbsp;&nbsp; (2.47%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.66% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $449743 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $35.23 | &nbsp;&nbsp;&nbsp;&nbsp; 9.73% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.49% | &nbsp;&nbsp;&nbsp;&nbsp; 75% | &nbsp;&nbsp;&nbsp;&nbsp; $249552 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $33.00 | &nbsp;&nbsp;&nbsp;&nbsp; 1.55% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 6.78% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $123809 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $33.65 | &nbsp;&nbsp;&nbsp;&nbsp; 7.65% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.56% | &nbsp;&nbsp;&nbsp;&nbsp; 84% | &nbsp;&nbsp;&nbsp;&nbsp; $109254 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $33.67 | &nbsp;&nbsp;&nbsp;&nbsp; 9.46% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 8.58% | &nbsp;&nbsp;&nbsp;&nbsp; 80% | &nbsp;&nbsp;&nbsp;&nbsp; $78649 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $33.56 | &nbsp;&nbsp;&nbsp;&nbsp; 8.62% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% | &nbsp;&nbsp;&nbsp;&nbsp; 7.54% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $130041 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $33.40 | &nbsp;&nbsp;&nbsp;&nbsp; (2.44%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 3.50% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $51720 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $35.42 | &nbsp;&nbsp;&nbsp;&nbsp; 9.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 3.51% | &nbsp;&nbsp;&nbsp;&nbsp; 75% | &nbsp;&nbsp;&nbsp;&nbsp; $95567 |

---

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

Columbia Floating Rate Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $33.50 | 1.14 | &nbsp;&nbsp; (0.62)<br>| 0.52 | &nbsp;&nbsp; (1.17)<br>| &nbsp;&nbsp; (1.17)<br>|
| Year Ended 7/31/2025 | $33.52 | 2.57 | &nbsp;&nbsp; (0.09)<br>| 2.48 | &nbsp;&nbsp; (2.50)<br>| &nbsp;&nbsp; (2.50)<br>|
| Year Ended 7/31/2024 | $33.42 | 2.88 | 0.17 | 3.05 | &nbsp;&nbsp; (2.95)<br>| &nbsp;&nbsp; (2.95)<br>|
| Year Ended 7/31/2023 | $33.25 | 2.47 | 0.30 | 2.77 | &nbsp;&nbsp; (2.60)<br>| &nbsp;&nbsp; (2.60)<br>|
| Year Ended 7/31/2022 | $35.27 | 1.25 | &nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp; (1.20)<br>| &nbsp;&nbsp; (1.20)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $33.21 | 1.23 | 1.99 | 3.22 | &nbsp;&nbsp; (1.16)<br>| &nbsp;&nbsp; (1.16)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | Ratios include interfund lending expense which is less than 0.01%. |
| (d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
| (e) | 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.  |

---

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

Columbia Floating Rate Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $32.85 | &nbsp;&nbsp;&nbsp;&nbsp; 1.55% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 0.67% | &nbsp;&nbsp;&nbsp;&nbsp; 6.81% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $92736 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $33.50 | &nbsp;&nbsp;&nbsp;&nbsp; 7.69% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.67% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.70% | &nbsp;&nbsp;&nbsp;&nbsp; 84% | &nbsp;&nbsp;&nbsp;&nbsp; $93986 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $33.52 | &nbsp;&nbsp;&nbsp;&nbsp; 9.48% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.67% | &nbsp;&nbsp;&nbsp;&nbsp; 8.60% | &nbsp;&nbsp;&nbsp;&nbsp; 80% | &nbsp;&nbsp;&nbsp;&nbsp; $88333 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $33.42 | &nbsp;&nbsp;&nbsp;&nbsp; 8.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% | &nbsp;&nbsp;&nbsp;&nbsp; 0.68% | &nbsp;&nbsp;&nbsp;&nbsp; 7.39% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $70077 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $33.25 | &nbsp;&nbsp;&nbsp;&nbsp; (2.41%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.68% | &nbsp;&nbsp;&nbsp;&nbsp; 3.60% | &nbsp;&nbsp;&nbsp;&nbsp; 35% | &nbsp;&nbsp;&nbsp;&nbsp; $130619 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $35.27 | &nbsp;&nbsp;&nbsp;&nbsp; 9.82% | &nbsp;&nbsp;&nbsp;&nbsp; 0.72% | &nbsp;&nbsp;&nbsp;&nbsp; 0.68% | &nbsp;&nbsp;&nbsp;&nbsp; 3.55% | &nbsp;&nbsp;&nbsp;&nbsp; 75% | &nbsp;&nbsp;&nbsp;&nbsp; $139132 |

---

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

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Floating Rate Fund (the Fund), a series of Columbia Funds Series Trust II (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 and Institutional 3 Class shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

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

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

**Segment reporting**

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

**Security valuation**

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

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

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

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

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

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

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

**Investments in senior loans** 

The Fund may invest in senior loan participations and assignments of all or a portion of a loan. When the Fund purchases a senior loan participation, the Fund typically enters into a contractual relationship with the lender or third party selling such participations (Selling Participant), but not the borrower, and assumes the credit risk of the borrower, Selling Participant and any other parties positioned between the Fund and the borrower. In addition, the Fund may not directly benefit from the

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

collateral supporting the senior loan that it has purchased from the Selling Participant. In contrast, 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 participations or 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 participations and assignments are vulnerable to market, economic or other conditions or events that may reduce the demand for loan participations and assignments and certain loan participations and assignments which were liquid when purchased, may become illiquid.

The Fund may enter into senior loan participations and 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.

**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.

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

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

**Distributions to shareholders**

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

**Guarantees and indemnifications**

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

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.66% to 0.40% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.65% 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).

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.

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.08 |
| Class C | 0.08 |
| Institutional Class | 0.08 |
| Institutional 2 Class | 0.04 |
| Institutional 3 Class | 0.00 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, no minimum account balance fees were charged by the Fund.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and 1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $921,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.

**Sales charges** 

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

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 3.00<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 53000 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1765 |

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

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

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

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

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.72 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.68 |

---

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

Note 4. Federal tax information

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>|
| 735266000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2973000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24531000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21558000)<br>|

---

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

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

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
| (14492034)<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; (103851801)<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; (118343835)<br>|

---

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

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $246,791,036 and $272,899,714, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Affiliated money market fund

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

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 six months ended January 31, 2026 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 | 9700000 | &nbsp;&nbsp;&nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |

---

Interest income earned by the Fund is recorded as Interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at January 31, 2026.

Note 8. Line of credit

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

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

Note 9. Risks and uncertainties

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

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

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

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

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 38.0% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 10. Subsequent events

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

Note 11. Information regarding pending and settled legal proceedings

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

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss that may result from such matters. An adverse outcome in one or more of these proceedings could result in adverse

Columbia Floating Rate Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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 Floating Rate Fund \| 2026

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**Columbia Floating Rate Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img9129f6752.jpg)

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

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

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

columbiathreadneedleus.com/investor/

SAR149_07_T01_(03/26)

------

![](g80035imge855fcc11.jpg)

Columbia Global Opportunities Fund

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

January 31, 2026 (Unaudited)

---

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

---

------

**Table of Contents**

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

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_98fe8bb9-5115-4d59-b11c-9b41345ecd80_POI-CommonContent-Date-73_1) | 3 |
| [Statement of Assets and Liabilities](#xx_98fe8bb9-5115-4d59-b11c-9b41345ecd80_FS-CommonContent-Date-73_1) | 17 |
| [Statement of Operations](#xx_98fe8bb9-5115-4d59-b11c-9b41345ecd80_FS-CommonContent-Date-73_2) | 18 |
| [Statement of Changes in Net Assets](#xx_98fe8bb9-5115-4d59-b11c-9b41345ecd80_FS-CommonContent-Date-73_3) | 19 |
| [Financial Highlights](#xx_98fe8bb9-5115-4d59-b11c-9b41345ecd80_FIHI-CommonContent-Date-73_2) | 22 |
| [Notes to Financial Statements](#xx_98fe8bb9-5115-4d59-b11c-9b41345ecd80_NTF-CommonContent-Date-73_1) | 24 |

---

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | |
|:---|:---|:---|
| **Alternative Strategies Funds 2.4%** | **Alternative Strategies Funds 2.4%** | **Alternative Strategies Funds 2.4%** |
|  | **Shares** | **Value ($)** |
| **United States 2.4%** | **United States 2.4%** | **United States 2.4%** |
| Columbia Commodity Strategy Fund, Institutional 3 <br> Class<sup>(a)</sup> <br>| &nbsp;&nbsp; 649821 | &nbsp;&nbsp; 7583415 |
| Total Alternative Strategies Funds <br>(Cost $6,550,916) | Total Alternative Strategies Funds <br>(Cost $6,550,916) | &nbsp;&nbsp; **7583415** |
| **Common Stocks 50.1%** | **Common Stocks 50.1%** | **Common Stocks 50.1%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Australia 0.6%** | **Australia 0.6%** | **Australia 0.6%** |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 38787 | &nbsp;&nbsp; 713033 |
| Paladin Energy Ltd.<sup>(b)</sup> <br>| &nbsp;&nbsp; 50312 | &nbsp;&nbsp; 471717 |
| Santos Ltd. | &nbsp;&nbsp; 102189 | &nbsp;&nbsp; 498350 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 18610 | &nbsp;&nbsp; 113700 |
| **Total** | **Total** | &nbsp;&nbsp; **1796800** |
| **Austria 0.1%** | **Austria 0.1%** | **Austria 0.1%** |
| Kontron AG | &nbsp;&nbsp; 10243 | &nbsp;&nbsp; 284183 |
| **Belgium 0.0%** | **Belgium 0.0%** | **Belgium 0.0%** |
| Galapagos NV, ADR<sup>(b)</sup> <br>| &nbsp;&nbsp; 3569 | &nbsp;&nbsp; 120918 |
| **Brazil 0.7%** | **Brazil 0.7%** | **Brazil 0.7%** |
| Banco BTG Pactual SA | &nbsp;&nbsp; 8272 | &nbsp;&nbsp; 93931 |
| Cosan SA<sup>(b)</sup> <br>| &nbsp;&nbsp; 75489 | &nbsp;&nbsp; 85203 |
| Embraer SA, ADR | &nbsp;&nbsp; 5447 | &nbsp;&nbsp; 400137 |
| Itaú Unibanco Holding SA, ADR | &nbsp;&nbsp; 54079 | &nbsp;&nbsp; 464539 |
| MercadoLibre, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 164 | &nbsp;&nbsp; 352237 |
| NU Holdings Ltd., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 36004 | &nbsp;&nbsp; 639071 |
| Petroleo Brasileiro SA, ADR | &nbsp;&nbsp; 4340 | &nbsp;&nbsp; 66576 |
| **Total** | **Total** | &nbsp;&nbsp; **2101694** |
| **Canada 0.6%** | **Canada 0.6%** | **Canada 0.6%** |
| Celestica, Inc.<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 362 | &nbsp;&nbsp; 101718 |
| Finning International, Inc. | &nbsp;&nbsp; 6131 | &nbsp;&nbsp; 384479 |
| Lightspeed Commerce, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 6955 | &nbsp;&nbsp; 75114 |
| Lithium Americas Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 19353 | &nbsp;&nbsp; 94249 |
| NexGen Energy Ltd.<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 21436 | &nbsp;&nbsp; 269451 |
| Pan American Silver Corp.<sup>(c)</sup> <br>| &nbsp;&nbsp; 3900 | &nbsp;&nbsp; 212940 |
| Vermilion Energy, Inc. | &nbsp;&nbsp; 17876 | &nbsp;&nbsp; 173040 |
| Whitecap Resources, Inc. | &nbsp;&nbsp; 58084 | &nbsp;&nbsp; 529801 |
| **Total** | **Total** | &nbsp;&nbsp; **1840792** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **China 1.8%** | **China 1.8%** | **China 1.8%** |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 38200 | &nbsp;&nbsp; 812651 |
| Atour Lifestyle Holdings Ltd., ADR | &nbsp;&nbsp; 3182 | &nbsp;&nbsp; 113725 |
| Bilibili, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 4200 | &nbsp;&nbsp; 143891 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 156508 |
| China Hongqiao Group Ltd. | &nbsp;&nbsp; 23500 | &nbsp;&nbsp; 107481 |
| China Resources Land Ltd. | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 176228 |
| CITIC Securities Co., Ltd., Class A | &nbsp;&nbsp; 17400 | &nbsp;&nbsp; 70256 |
| CMOC Group Ltd., Class H | &nbsp;&nbsp; 72000 | &nbsp;&nbsp; 202361 |
| Contemporary Amperex Technology Co., Ltd., Class A | &nbsp;&nbsp; 6400 | &nbsp;&nbsp; 322925 |
| Eastroc Beverage Group Co., Ltd., Class A | &nbsp;&nbsp; 3630 | &nbsp;&nbsp; 130677 |
| Futu Holdings Ltd., ADR<sup>(b)</sup> <br>| &nbsp;&nbsp; 1013 | &nbsp;&nbsp; 164683 |
| Fuyao Glass Industry Group Co., Ltd., Class A | &nbsp;&nbsp; 14000 | &nbsp;&nbsp; 124355 |
| Hansoh Pharmaceutical Group Co., Ltd. | &nbsp;&nbsp; 26000 | &nbsp;&nbsp; 128133 |
| Huatai Securities Co., Ltd., Class H | &nbsp;&nbsp; 33000 | &nbsp;&nbsp; 78681 |
| Jiangsu Hengrui Pharmaceuticals Co., Ltd., Class H<sup>(b)</sup> <br>| &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 63117 |
| Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp; 121500 | &nbsp;&nbsp; 1126955 |
| Sieyuan Electric Co., Ltd., Class A | &nbsp;&nbsp; 11200 | &nbsp;&nbsp; 297959 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 16300 | &nbsp;&nbsp; 1252847 |
| Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 4293 | &nbsp;&nbsp; 72037 |
| Trip.com Group Ltd., ADR | &nbsp;&nbsp; 1724 | &nbsp;&nbsp; 105802 |
| WuXi XDC Cayman, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 30500 | &nbsp;&nbsp; 245040 |
| **Total** | **Total** | &nbsp;&nbsp; **5896312** |
| **Denmark 0.2%** | **Denmark 0.2%** | **Denmark 0.2%** |
| ISS A/S | &nbsp;&nbsp; 11197 | &nbsp;&nbsp; 424643 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 5312 | &nbsp;&nbsp; 315422 |
| **Total** | **Total** | &nbsp;&nbsp; **740065** |
| **Finland 0.2%** | **Finland 0.2%** | **Finland 0.2%** |
| Amer Sports, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 2953 | &nbsp;&nbsp; 108168 |
| Nokia OYJ | &nbsp;&nbsp; 33871 | &nbsp;&nbsp; 218160 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 14239 | &nbsp;&nbsp; 392828 |
| **Total** | **Total** | &nbsp;&nbsp; **719156** |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **France 0.7%** | **France 0.7%** | **France 0.7%** |
| AXA SA | &nbsp;&nbsp; 13071 | &nbsp;&nbsp; 596026 |
| Cie de Saint-Gobain SA | &nbsp;&nbsp; 3761 | &nbsp;&nbsp; 371232 |
| Eiffage SA | &nbsp;&nbsp; 3319 | &nbsp;&nbsp; 492232 |
| Sanofi SA | &nbsp;&nbsp; 5546 | &nbsp;&nbsp; 523119 |
| TotalEnergies SE | &nbsp;&nbsp; 3976 | &nbsp;&nbsp; 289170 |
| **Total** | **Total** | &nbsp;&nbsp; **2271779** |
| **Germany 0.3%** | **Germany 0.3%** | **Germany 0.3%** |
| Duerr AG | &nbsp;&nbsp; 4801 | &nbsp;&nbsp; 127963 |
| Fresenius Medical Care AG | &nbsp;&nbsp; 6108 | &nbsp;&nbsp; 274976 |
| KION Group AG | &nbsp;&nbsp; 5149 | &nbsp;&nbsp; 363699 |
| Siemens AG, Registered Shares | &nbsp;&nbsp; 805 | &nbsp;&nbsp; 243376 |
| **Total** | **Total** | &nbsp;&nbsp; **1010014** |
| **Greece 0.7%** | **Greece 0.7%** | **Greece 0.7%** |
| Eurobank SA | &nbsp;&nbsp; 84133 | &nbsp;&nbsp; 411156 |
| JUMBO SA | &nbsp;&nbsp; 14666 | &nbsp;&nbsp; 435304 |
| National Bank of Greece SA | &nbsp;&nbsp; 50262 | &nbsp;&nbsp; 887348 |
| Piraeus Bank SA<sup>(b)</sup> <br>| &nbsp;&nbsp; 40577 | &nbsp;&nbsp; 409314 |
| Public Power Corp. SA | &nbsp;&nbsp; 3819 | &nbsp;&nbsp; 90266 |
| **Total** | **Total** | &nbsp;&nbsp; **2233388** |
| **Hong Kong 0.3%** | **Hong Kong 0.3%** | **Hong Kong 0.3%** |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 105500 | &nbsp;&nbsp; 555562 |
| Damai Entertainment Holdings Ltd.<sup>(b)</sup> <br>| &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 55540 |
| Hong Kong Exchanges and Clearing Ltd. | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 143341 |
| WH Group Ltd. | &nbsp;&nbsp; 276546 | &nbsp;&nbsp; 326351 |
| **Total** | **Total** | &nbsp;&nbsp; **1080794** |
| **India 0.5%** | **India 0.5%** | **India 0.5%** |
| 360 ONE WAM Ltd. | &nbsp;&nbsp; 17875 | &nbsp;&nbsp; 220503 |
| Bajaj Finance Ltd. | &nbsp;&nbsp; 12584 | &nbsp;&nbsp; 127317 |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 23041 | &nbsp;&nbsp; 112566 |
| Bharti Airtel Ltd. | &nbsp;&nbsp; 12835 | &nbsp;&nbsp; 275272 |
| Cholamandalam Investment and Finance Co., Ltd. | &nbsp;&nbsp; 3141 | &nbsp;&nbsp; 55781 |
| Eternal Ltd.<sup>(b)</sup> <br>| &nbsp;&nbsp; 40464 | &nbsp;&nbsp; 120613 |
| HDFC Bank Ltd., ADR | &nbsp;&nbsp; 2107 | &nbsp;&nbsp; 68225 |
| ICICI Bank Ltd., ADR | &nbsp;&nbsp; 11249 | &nbsp;&nbsp; 329483 |
| Lodha Developers Ltd. | &nbsp;&nbsp; 9783 | &nbsp;&nbsp; 103479 |
| Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 12283 | &nbsp;&nbsp; 223274 |
| **Total** | **Total** | &nbsp;&nbsp; **1636513** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Ireland 0.3%** | **Ireland 0.3%** | **Ireland 0.3%** |
| AIB Group PLC | &nbsp;&nbsp; 43195 | &nbsp;&nbsp; 482840 |
| Flutter Entertainment PLC<sup>(b)</sup> <br>| &nbsp;&nbsp; 2286 | &nbsp;&nbsp; 377533 |
| **Total** | **Total** | &nbsp;&nbsp; **860373** |
| **Israel 0.2%** | **Israel 0.2%** | **Israel 0.2%** |
| Check Point Software Technologies Ltd.<sup>(b)</sup> <br>| &nbsp;&nbsp; 3774 | &nbsp;&nbsp; 677471 |
| **Italy 0.3%** | **Italy 0.3%** | **Italy 0.3%** |
| BPER Banca SPA | &nbsp;&nbsp; 15678 | &nbsp;&nbsp; 220800 |
| Buzzi SpA | &nbsp;&nbsp; 9060 | &nbsp;&nbsp; 515710 |
| PRADA SpA | &nbsp;&nbsp; 63700 | &nbsp;&nbsp; 326487 |
| **Total** | **Total** | &nbsp;&nbsp; **1062997** |
| **Japan 2.8%** | **Japan 2.8%** | **Japan 2.8%** |
| Amano Corp. | &nbsp;&nbsp; 6600 | &nbsp;&nbsp; 167505 |
| Anycolor, Inc. | &nbsp;&nbsp; 8600 | &nbsp;&nbsp; 245501 |
| Furuno Electric Co., Ltd. | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 119995 |
| Hitachi Ltd. | &nbsp;&nbsp; 12400 | &nbsp;&nbsp; 430282 |
| IHI Corp. | &nbsp;&nbsp; 8400 | &nbsp;&nbsp; 194344 |
| ITOCHU Corp. | &nbsp;&nbsp; 35300 | &nbsp;&nbsp; 451931 |
| Kakaku.com, Inc. | &nbsp;&nbsp; 14000 | &nbsp;&nbsp; 191075 |
| Kinden Corp. | &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 318600 |
| Macnica Holdings, Inc. | &nbsp;&nbsp; 24000 | &nbsp;&nbsp; 411494 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 28600 | &nbsp;&nbsp; 457940 |
| Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp; 38300 | &nbsp;&nbsp; 693627 |
| Niterra Co., Ltd. | &nbsp;&nbsp; 9600 | &nbsp;&nbsp; 419730 |
| Nomura Holdings, Inc. | &nbsp;&nbsp; 37200 | &nbsp;&nbsp; 337119 |
| Otsuka Corp. | &nbsp;&nbsp; 13000 | &nbsp;&nbsp; 257744 |
| Sankyo Co., Ltd. | &nbsp;&nbsp; 32500 | &nbsp;&nbsp; 508382 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 11000 | &nbsp;&nbsp; 249164 |
| SCREEN Holdings Co., Ltd. | &nbsp;&nbsp; 2100 | &nbsp;&nbsp; 267442 |
| Shimamura Co., Ltd. | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 402150 |
| Ship Healthcare Holdings, Inc. | &nbsp;&nbsp; 11500 | &nbsp;&nbsp; 189565 |
| Sumitomo Corp. | &nbsp;&nbsp; 4700 | &nbsp;&nbsp; 190863 |
| Sumitomo Metal Mining Co., Ltd. | &nbsp;&nbsp; 6100 | &nbsp;&nbsp; 344701 |
| Suzuken Co., Ltd. | &nbsp;&nbsp; 11800 | &nbsp;&nbsp; 475654 |
| Taisei Corp. | &nbsp;&nbsp; 2500 | &nbsp;&nbsp; 249370 |
| TBS Holdings, Inc. | &nbsp;&nbsp; 13700 | &nbsp;&nbsp; 531189 |
| TOPPAN Holdings, Inc. | &nbsp;&nbsp; 9600 | &nbsp;&nbsp; 296542 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 8600 | &nbsp;&nbsp; 313205 |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| USS Co., Ltd. | &nbsp;&nbsp; 24300 | &nbsp;&nbsp; 268499 |
| **Total** | **Total** | &nbsp;&nbsp; **8983613** |
| **Kazakhstan 0.1%** | **Kazakhstan 0.1%** | **Kazakhstan 0.1%** |
| Kaspi.KZ JSC, ADR<sup>(b)</sup> <br>| &nbsp;&nbsp; 3510 | &nbsp;&nbsp; 267357 |
| **Mexico 0.1%** | **Mexico 0.1%** | **Mexico 0.1%** |
| BBB Foods, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 6184 | &nbsp;&nbsp; 215760 |
| Vista Energy SAB de CV, ADR<sup>(b)</sup> <br>| &nbsp;&nbsp; 962 | &nbsp;&nbsp; 58191 |
| **Total** | **Total** | &nbsp;&nbsp; **273951** |
| **Netherlands 1.0%** | **Netherlands 1.0%** | **Netherlands 1.0%** |
| ASM International NV | &nbsp;&nbsp; 927 | &nbsp;&nbsp; 778526 |
| ASR Nederland NV | &nbsp;&nbsp; 7330 | &nbsp;&nbsp; 532383 |
| ING Groep NV | &nbsp;&nbsp; 31380 | &nbsp;&nbsp; 925425 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 9181 | &nbsp;&nbsp; 358979 |
| Prosus NV, Class N<sup>(b)</sup> <br>| &nbsp;&nbsp; 11965 | &nbsp;&nbsp; 688003 |
| **Total** | **Total** | &nbsp;&nbsp; **3283316** |
| **Norway 0.2%** | **Norway 0.2%** | **Norway 0.2%** |
| Norsk Hydro ASA | &nbsp;&nbsp; 31345 | &nbsp;&nbsp; 278277 |
| SalMar ASA | &nbsp;&nbsp; 4921 | &nbsp;&nbsp; 293146 |
| **Total** | **Total** | &nbsp;&nbsp; **571423** |
| **Poland 0.3%** | **Poland 0.3%** | **Poland 0.3%** |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp; 37093 | &nbsp;&nbsp; 964821 |
| **Russian Federation —%** | **Russian Federation —%** | **Russian Federation —%** |
| Detsky Mir PJSC<sup>(b),(d),(e),(f)</sup> <br>| &nbsp;&nbsp; 290936 | &nbsp;&nbsp; — |
| Lukoil PJSC<sup>(b),(d),(e),(f),(g)</sup> <br>| &nbsp;&nbsp; 2750 | &nbsp;&nbsp; — |
| **Total** | **Total** | &nbsp;&nbsp; **—** |
| **Singapore 0.2%** | **Singapore 0.2%** | **Singapore 0.2%** |
| Sea Ltd. ADR<sup>(b)</sup> <br>| &nbsp;&nbsp; 1359 | &nbsp;&nbsp; 158310 |
| Venture Corp., Ltd. | &nbsp;&nbsp; 24400 | &nbsp;&nbsp; 313323 |
| **Total** | **Total** | &nbsp;&nbsp; **471633** |
| **South Africa 0.3%** | **South Africa 0.3%** | **South Africa 0.3%** |
| Capitec Bank Holdings Ltd. | &nbsp;&nbsp; 1722 | &nbsp;&nbsp; 462346 |
| FirstRand Ltd. | &nbsp;&nbsp; 31850 | &nbsp;&nbsp; 181668 |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp; 12561 | &nbsp;&nbsp; 234128 |
| **Total** | **Total** | &nbsp;&nbsp; **878142** |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **South Korea 1.6%** | **South Korea 1.6%** | **South Korea 1.6%** |
| Coupang, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 8157 | &nbsp;&nbsp; 164445 |
| Doosan Co., Ltd. | &nbsp;&nbsp; 223 | &nbsp;&nbsp; 130690 |
| Doosan Enerbility Co., Ltd.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1709 | &nbsp;&nbsp; 106686 |
| Hanwha Aerospace Co., Ltd.<sup>(b)</sup> <br>| &nbsp;&nbsp; 412 | &nbsp;&nbsp; 370875 |
| HD Hyundai Co., Ltd. | &nbsp;&nbsp; 603 | &nbsp;&nbsp; 97860 |
| HD Hyundai Electric Co., Ltd. | &nbsp;&nbsp; 620 | &nbsp;&nbsp; 379840 |
| HD Hyundai Heavy Industries Co., Ltd. | &nbsp;&nbsp; 181 | &nbsp;&nbsp; 72043 |
| HD Hyundai Marine Solution Co., Ltd. | &nbsp;&nbsp; 1419 | &nbsp;&nbsp; 179918 |
| KB Financial Group, Inc. | &nbsp;&nbsp; 1982 | &nbsp;&nbsp; 185514 |
| Samsung Biologics Co., Ltd.<sup>(b)</sup> <br>| &nbsp;&nbsp; 84 | &nbsp;&nbsp; 101515 |
| Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 15513 | &nbsp;&nbsp; 1713795 |
| SK Hynix, Inc. | &nbsp;&nbsp; 2069 | &nbsp;&nbsp; 1291837 |
| Youngone Corp. | &nbsp;&nbsp; 4355 | &nbsp;&nbsp; 275024 |
| **Total** | **Total** | &nbsp;&nbsp; **5070042** |
| **Spain 0.2%** | **Spain 0.2%** | **Spain 0.2%** |
| Endesa SA | &nbsp;&nbsp; 14873 | &nbsp;&nbsp; 548108 |
| **Switzerland 0.7%** | **Switzerland 0.7%** | **Switzerland 0.7%** |
| Landis+Gyr Group AG<sup>(b)</sup> <br>| &nbsp;&nbsp; 2909 | &nbsp;&nbsp; 204354 |
| Nestlé SA, Registered Shares | &nbsp;&nbsp; 1983 | &nbsp;&nbsp; 189231 |
| Novartis AG, Registered Shares | &nbsp;&nbsp; 2859 | &nbsp;&nbsp; 424189 |
| TE Connectivity PLC | &nbsp;&nbsp; 6950 | &nbsp;&nbsp; 1548321 |
| **Total** | **Total** | &nbsp;&nbsp; **2366095** |
| **Taiwan 1.8%** | **Taiwan 1.8%** | **Taiwan 1.8%** |
| Accton Technology Corp. | &nbsp;&nbsp; 10753 | &nbsp;&nbsp; 375960 |
| ASPEED Technology, Inc. | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 279656 |
| Chroma ATE, Inc. | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 122826 |
| Delta Electronics, Inc. | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 190812 |
| Elite Material Co., Ltd. | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 216970 |
| eMemory Technology, Inc. | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 57595 |
| Gold Circuit Electronics Ltd. | &nbsp;&nbsp; 8000 | &nbsp;&nbsp; 174696 |
| Jentech Precision Industrial Co., Ltd. | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 265801 |
| MediaTek, Inc. | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 221882 |
| Parade Technologies Ltd. | &nbsp;&nbsp; 14000 | &nbsp;&nbsp; 234123 |
| Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp; 60530 | &nbsp;&nbsp; 3347063 |
| Unimicron Technology Corp. | &nbsp;&nbsp; 36000 | &nbsp;&nbsp; 427925 |
| **Total** | **Total** | &nbsp;&nbsp; **5915309** |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| **Turkey 0.0%** | **Turkey 0.0%** | **Turkey 0.0%** |
| BIM Birlesik Magazalar AS | &nbsp;&nbsp; 9783 | &nbsp;&nbsp; 149296 |
| **United Arab Emirates 0.3%** | **United Arab Emirates 0.3%** | **United Arab Emirates 0.3%** |
| ADNOC Drilling Co. PJSC | &nbsp;&nbsp; 71338 | &nbsp;&nbsp; 103535 |
| Emaar Properties PJSC | &nbsp;&nbsp; 189979 | &nbsp;&nbsp; 777146 |
| **Total** | **Total** | &nbsp;&nbsp; **880681** |
| **United Kingdom 0.9%** | **United Kingdom 0.9%** | **United Kingdom 0.9%** |
| Anglogold Ashanti PLC | &nbsp;&nbsp; 3642 | &nbsp;&nbsp; 338233 |
| AstraZeneca PLC, ADR | &nbsp;&nbsp; 9741 | &nbsp;&nbsp; 903673 |
| Imperial Brands PLC | &nbsp;&nbsp; 8354 | &nbsp;&nbsp; 351852 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 220911 | &nbsp;&nbsp; 247227 |
| Marex Group PLC | &nbsp;&nbsp; 1574 | &nbsp;&nbsp; 62141 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 134795 | &nbsp;&nbsp; 676024 |
| TP Icap Group PLC | &nbsp;&nbsp; 125705 | &nbsp;&nbsp; 438511 |
| **Total** | **Total** | &nbsp;&nbsp; **3017661** |
| **United States 32.0%** | **United States 32.0%** | **United States 32.0%** |
| ABM Industries, Inc. | &nbsp;&nbsp; 2930 | &nbsp;&nbsp; 134897 |
| ACADIA Pharmaceuticals, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 4910 | &nbsp;&nbsp; 123388 |
| Advance Auto Parts, Inc. | &nbsp;&nbsp; 1863 | &nbsp;&nbsp; 89443 |
| AES Corp. (The) | &nbsp;&nbsp; 14912 | &nbsp;&nbsp; 218461 |
| Albemarle Corp. | &nbsp;&nbsp; 523 | &nbsp;&nbsp; 89240 |
| Alphabet, Inc., Class C | &nbsp;&nbsp; 19183 | &nbsp;&nbsp; 6494021 |
| Amazon.com, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 19128 | &nbsp;&nbsp; 4577330 |
| Ameren Corp. | &nbsp;&nbsp; 10610 | &nbsp;&nbsp; 1095801 |
| Apple, Inc. | &nbsp;&nbsp; 17198 | &nbsp;&nbsp; 4462537 |
| AT&T, Inc. | &nbsp;&nbsp; 53544 | &nbsp;&nbsp; 1403388 |
| ATI, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1144 | &nbsp;&nbsp; 137623 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp; 8324 | &nbsp;&nbsp; 323304 |
| Avient Corp. | &nbsp;&nbsp; 3399 | &nbsp;&nbsp; 122874 |
| Bank of America Corp. | &nbsp;&nbsp; 37165 | &nbsp;&nbsp; 1977178 |
| Boston Scientific Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 9953 | &nbsp;&nbsp; 930904 |
| Brixmor Property Group, Inc. | &nbsp;&nbsp; 9676 | &nbsp;&nbsp; 259220 |
| Broadcom, Inc. | &nbsp;&nbsp; 11120 | &nbsp;&nbsp; 3684056 |
| Burford Capital Ltd. | &nbsp;&nbsp; 21698 | &nbsp;&nbsp; 210254 |
| Cargurus, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 2361 | &nbsp;&nbsp; 76496 |
| Carriage Services, Inc. | &nbsp;&nbsp; 2337 | &nbsp;&nbsp; 100281 |
| Casella Waste Systems, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 1290 | &nbsp;&nbsp; 130135 |
| Cencora, Inc. | &nbsp;&nbsp; 1937 | &nbsp;&nbsp; 695809 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Champion Homes, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 2064 | &nbsp;&nbsp; 161776 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 15187 | &nbsp;&nbsp; 1578233 |
| Cintas Corp. | &nbsp;&nbsp; 5291 | &nbsp;&nbsp; 1012645 |
| Citigroup, Inc. | &nbsp;&nbsp; 17419 | &nbsp;&nbsp; 2015553 |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 7697 | &nbsp;&nbsp; 694962 |
| Construction Partners, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 1278 | &nbsp;&nbsp; 140427 |
| Danaher Corp. | &nbsp;&nbsp; 4151 | &nbsp;&nbsp; 908612 |
| Diversified Energy Co. | &nbsp;&nbsp; 14737 | &nbsp;&nbsp; 197328 |
| Domo, Inc., Class B<sup>(b)</sup> <br>| &nbsp;&nbsp; 12996 | &nbsp;&nbsp; 76287 |
| Doximity, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 2717 | &nbsp;&nbsp; 101806 |
| DTE Energy Co. | &nbsp;&nbsp; 8514 | &nbsp;&nbsp; 1144111 |
| Eaton Corp. PLC | &nbsp;&nbsp; 2571 | &nbsp;&nbsp; 903501 |
| Eli Lilly & Co. | &nbsp;&nbsp; 1992 | &nbsp;&nbsp; 2066003 |
| Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp; 24027 | &nbsp;&nbsp; 159299 |
| Energy Fuels, Inc.<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 12129 | &nbsp;&nbsp; 272175 |
| Energy Recovery, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 12889 | &nbsp;&nbsp; 188051 |
| Entergy Corp. | &nbsp;&nbsp; 11493 | &nbsp;&nbsp; 1102064 |
| EPAM Systems, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 674 | &nbsp;&nbsp; 140596 |
| Equinix, Inc. | &nbsp;&nbsp; 1669 | &nbsp;&nbsp; 1370132 |
| EverQuote, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 2338 | &nbsp;&nbsp; 53073 |
| Figs, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 14194 | &nbsp;&nbsp; 153437 |
| First BanCorp | &nbsp;&nbsp; 5272 | &nbsp;&nbsp; 305407 |
| Formfactor, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 4052 | &nbsp;&nbsp; 285625 |
| Freshpet, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1966 | &nbsp;&nbsp; 137030 |
| Galaxy Digital, Inc., Class A<sup>(b),(c)</sup> <br>| &nbsp;&nbsp; 3066 | &nbsp;&nbsp; 86645 |
| Gap, Inc. (The) | &nbsp;&nbsp; 48806 | &nbsp;&nbsp; 1365592 |
| General Dynamics Corp. | &nbsp;&nbsp; 4813 | &nbsp;&nbsp; 1689796 |
| General Motors Co. | &nbsp;&nbsp; 12789 | &nbsp;&nbsp; 1074276 |
| Gitlab, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 3236 | &nbsp;&nbsp; 113195 |
| Glaukos Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1765 | &nbsp;&nbsp; 210706 |
| Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 1953 | &nbsp;&nbsp; 1826856 |
| Hanover Insurance Group, Inc. (The) | &nbsp;&nbsp; 891 | &nbsp;&nbsp; 155159 |
| Hartford Insurance Group, Inc. (The) | &nbsp;&nbsp; 12126 | &nbsp;&nbsp; 1637738 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp; 2705 | &nbsp;&nbsp; 91645 |
| Herc Holdings Inc | &nbsp;&nbsp; 383 | &nbsp;&nbsp; 54899 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp; 2620 | &nbsp;&nbsp; 782096 |
| IDACORP, Inc. | &nbsp;&nbsp; 1675 | &nbsp;&nbsp; 222423 |
| Illumina, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 666126 |
| Impinj, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1159 | &nbsp;&nbsp; 160058 |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Insmed, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 4168 | &nbsp;&nbsp; 653834 |
| Installed Building Products, Inc. | &nbsp;&nbsp; 634 | &nbsp;&nbsp; 182681 |
| Intuitive Surgical, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1595 | &nbsp;&nbsp; 804231 |
| Jazz Pharmaceuticals PLC<sup>(b)</sup> <br>| &nbsp;&nbsp; 2252 | &nbsp;&nbsp; 370432 |
| JBS NV, Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 21065 | &nbsp;&nbsp; 331774 |
| JBT Marel Corp. | &nbsp;&nbsp; 610 | &nbsp;&nbsp; 95959 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 8970 | &nbsp;&nbsp; 2743833 |
| Lam Research Corp. | &nbsp;&nbsp; 4109 | &nbsp;&nbsp; 959287 |
| Latham Group, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 9512 | &nbsp;&nbsp; 59830 |
| Lazard, Inc. | &nbsp;&nbsp; 2449 | &nbsp;&nbsp; 131560 |
| Lear Corp. | &nbsp;&nbsp; 1090 | &nbsp;&nbsp; 127628 |
| LendingTree, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 5392 | &nbsp;&nbsp; 305511 |
| Life Time Group Holdings, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 2798 | &nbsp;&nbsp; 81618 |
| Lionsgate Studios Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 10430 | &nbsp;&nbsp; 98459 |
| Liquidity Services, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 3031 | &nbsp;&nbsp; 96992 |
| Maravai LifeSciences Holdings, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 9025 | &nbsp;&nbsp; 30324 |
| MasterCard, Inc., Class A | &nbsp;&nbsp; 3184 | &nbsp;&nbsp; 1715507 |
| Matthews International Corp., Class A | &nbsp;&nbsp; 4181 | &nbsp;&nbsp; 109919 |
| Merck & Co., Inc. | &nbsp;&nbsp; 10459 | &nbsp;&nbsp; 1153314 |
| Meta Platforms, Inc., Class A | &nbsp;&nbsp; 4408 | &nbsp;&nbsp; 3158332 |
| Micron Technology, Inc. | &nbsp;&nbsp; 3964 | &nbsp;&nbsp; 1644584 |
| Microsoft Corp. | &nbsp;&nbsp; 14102 | &nbsp;&nbsp; 6067950 |
| Middleby Corp. (The)<sup>(b)</sup> <br>| &nbsp;&nbsp; 1028 | &nbsp;&nbsp; 151291 |
| Moelis & Co., ADR, Class A | &nbsp;&nbsp; 3348 | &nbsp;&nbsp; 239951 |
| NIKE, Inc., Class B | &nbsp;&nbsp; 16233 | &nbsp;&nbsp; 1003362 |
| Nordic American Tankers Ltd. | &nbsp;&nbsp; 20527 | &nbsp;&nbsp; 85392 |
| NOV, Inc. | &nbsp;&nbsp; 4827 | &nbsp;&nbsp; 88575 |
| NPK International, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 20390 | &nbsp;&nbsp; 281586 |
| nVent Electric PLC | &nbsp;&nbsp; 11311 | &nbsp;&nbsp; 1269773 |
| NVIDIA Corp. | &nbsp;&nbsp; 40318 | &nbsp;&nbsp; 7705979 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 653 | &nbsp;&nbsp; 72032 |
| OneSpan, Inc. | &nbsp;&nbsp; 7868 | &nbsp;&nbsp; 92685 |
| Owens & Minor, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 40974 | &nbsp;&nbsp; 90553 |
| Palo Alto Networks, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 8230 | &nbsp;&nbsp; 1456463 |
| Parker-Hannifin Corp. | &nbsp;&nbsp; 1638 | &nbsp;&nbsp; 1532906 |
| Personalis, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 26104 | &nbsp;&nbsp; 244594 |
| Primo Brands Corp., Class A | &nbsp;&nbsp; 38293 | &nbsp;&nbsp; 725269 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 6726 | &nbsp;&nbsp; 1020805 |
| Progyny, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 10648 | &nbsp;&nbsp; 254168 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Issuer** | **Shares** | **Value ($)** |
| Quanex Building Products Corp. | &nbsp;&nbsp; 9506 | &nbsp;&nbsp; 177952 |
| Quanterix Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 10014 | &nbsp;&nbsp; 63489 |
| Quantum Computing, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 3660 | &nbsp;&nbsp; 33928 |
| Republic Services, Inc. | &nbsp;&nbsp; 4461 | &nbsp;&nbsp; 959517 |
| Revolution Medicines, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 8028 | &nbsp;&nbsp; 778315 |
| Roche Holding AG, Genusschein Shares | &nbsp;&nbsp; 603 | &nbsp;&nbsp; 274208 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp; 3511 | &nbsp;&nbsp; 1139846 |
| Scotts Miracle-Gro Co. (The), Class A | &nbsp;&nbsp; 2910 | &nbsp;&nbsp; 186880 |
| Serve Robotics, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 2554 | &nbsp;&nbsp; 26638 |
| ServiceNow, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 11177 | &nbsp;&nbsp; 1307821 |
| Shell PLC | &nbsp;&nbsp; 17890 | &nbsp;&nbsp; 687683 |
| Shift4 Payments, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 1481 | &nbsp;&nbsp; 87438 |
| Sirius XM Holdings, Inc. | &nbsp;&nbsp; 4067 | &nbsp;&nbsp; 82763 |
| SiTime Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 649 | &nbsp;&nbsp; 235658 |
| Six Flags Entertainment Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 8391 | &nbsp;&nbsp; 151122 |
| SkyWater Technology, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 5200 | &nbsp;&nbsp; 164632 |
| Starwood Property Trust, Inc. | &nbsp;&nbsp; 6114 | &nbsp;&nbsp; 109624 |
| Structure Therapeutics, Inc., ADR<sup>(b)</sup> <br>| &nbsp;&nbsp; 590 | &nbsp;&nbsp; 52186 |
| Tesla, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1479 | &nbsp;&nbsp; 636576 |
| Tetra Technologies, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 28024 | &nbsp;&nbsp; 319474 |
| TJX Companies, Inc. (The) | &nbsp;&nbsp; 7711 | &nbsp;&nbsp; 1155185 |
| Unifirst Corp. | &nbsp;&nbsp; 352 | &nbsp;&nbsp; 75680 |
| Uranium Energy Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 3379 | &nbsp;&nbsp; 58254 |
| Utz Brands, Inc. | &nbsp;&nbsp; 11038 | &nbsp;&nbsp; 116341 |
| Valero Energy Corp. | &nbsp;&nbsp; 5441 | &nbsp;&nbsp; 987161 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 1745 | &nbsp;&nbsp; 819976 |
| Viking Therapeutics, Inc.<sup>(b)</sup> <br>| &nbsp;&nbsp; 4593 | &nbsp;&nbsp; 133381 |
| Voya Financial, Inc. | &nbsp;&nbsp; 2043 | &nbsp;&nbsp; 156616 |
| Walmart, Inc. | &nbsp;&nbsp; 13278 | &nbsp;&nbsp; 1581941 |
| Xometry, Inc., Class A<sup>(b)</sup> <br>| &nbsp;&nbsp; 4617 | &nbsp;&nbsp; 263769 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp; 1093 | &nbsp;&nbsp; 50398 |
| **Total** | **Total** | &nbsp;&nbsp; **102755378** |
| **Vietnam 0.1%** | **Vietnam 0.1%** | **Vietnam 0.1%** |
| Vietnam Technological & Commercial Joint Stock <br> Bank<br>| &nbsp;&nbsp; 117000 | &nbsp;&nbsp; 161942 |
| Total Common Stocks <br>(Cost $116,668,112) | Total Common Stocks <br>(Cost $116,668,112) | &nbsp;&nbsp; **160892017** |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Exchange-Traded Equity Funds 1.6%** | **Exchange-Traded Equity Funds 1.6%** | **Exchange-Traded Equity Funds 1.6%** |
|  | **Shares** | **Value ($)** |
| **United States 1.6%** | **United States 1.6%** | **United States 1.6%** |
| iShares MSCI Canada ETF | &nbsp;&nbsp; 94586 | &nbsp;&nbsp; 5132236 |
| Total Exchange-Traded Equity Funds <br>(Cost $2,315,465) | Total Exchange-Traded Equity Funds <br>(Cost $2,315,465) | &nbsp;&nbsp; **5132236** |
| **Exchange-Traded Fixed Income Funds 4.6%** | **Exchange-Traded Fixed Income Funds 4.6%** | **Exchange-Traded Fixed Income Funds 4.6%** |
| **United States 4.6%** | **United States 4.6%** | **United States 4.6%** |
| iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp; 81237 | &nbsp;&nbsp; 6589946 |
| iShares JPMorgan USD Emerging Markets Bond ETF | &nbsp;&nbsp; 83138 | &nbsp;&nbsp; 8029468 |
| **Total** | **Total** | &nbsp;&nbsp; **14619414** |
| Total Exchange-Traded Fixed Income Funds <br>(Cost $13,621,366) | Total Exchange-Traded Fixed Income Funds <br>(Cost $13,621,366) | &nbsp;&nbsp; **14619414** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(h),(i)</sup> **15.2%** | **Foreign Government Obligations**<sup>(h),(i)</sup> **15.2%** | **Foreign Government Obligations**<sup>(h),(i)</sup> **15.2%** | **Foreign Government Obligations**<sup>(h),(i)</sup> **15.2%** | **Foreign Government Obligations**<sup>(h),(i)</sup> **15.2%** |
| **Issuer** | **Coupon**<br> **Rate**<br>|  | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Belgium 0.3%** | **Belgium 0.3%** | **Belgium 0.3%** | **Belgium 0.3%** | **Belgium 0.3%** |
| Kingdom of Belgium Government Bond<sup>(j)</sup>  | Kingdom of Belgium Government Bond<sup>(j)</sup>  | Kingdom of Belgium Government Bond<sup>(j)</sup>  | Kingdom of Belgium Government Bond<sup>(j)</sup>  | Kingdom of Belgium Government Bond<sup>(j)</sup>  |
| 06/22/2055 | &nbsp;&nbsp; 3.500% | EUR | 1025000 | &nbsp;&nbsp; 1057913 |
| **Canada 2.2%** | **Canada 2.2%** | **Canada 2.2%** | **Canada 2.2%** | **Canada 2.2%** |
| Canadian Government Bond | Canadian Government Bond | Canadian Government Bond | Canadian Government Bond | Canadian Government Bond |
| 06/01/2034 | &nbsp;&nbsp; 3.000% | CAD | 4870000 | &nbsp;&nbsp; 3498537 |
| 12/01/2034 | &nbsp;&nbsp; 3.250% | CAD | 850000 | &nbsp;&nbsp; 619917 |
| 06/01/2035 | &nbsp;&nbsp; 3.250% | CAD | 3833000 | &nbsp;&nbsp; 2785495 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **6903949** |
| **China 2.5%** | **China 2.5%** | **China 2.5%** | **China 2.5%** | **China 2.5%** |
| China Development Bank | China Development Bank | China Development Bank | China Development Bank | China Development Bank |
| 06/18/2030 | &nbsp;&nbsp; 3.090% | CNY | 7000000 | &nbsp;&nbsp; 1063864 |
| 07/18/2032 | &nbsp;&nbsp; 2.960% | CNY | 2300000 | &nbsp;&nbsp; 353139 |
| China Government Bond | China Government Bond | China Government Bond | China Government Bond | China Government Bond |
| 11/21/2029 | &nbsp;&nbsp; 3.130% | CNY | 20220000 | &nbsp;&nbsp; 3108234 |
| 05/21/2030 | &nbsp;&nbsp; 2.680% | CNY | 5000000 | &nbsp;&nbsp; 755455 |
| 05/25/2033 | &nbsp;&nbsp; 2.670% | CNY | 3000000 | &nbsp;&nbsp; 460950 |
| 08/25/2035 | &nbsp;&nbsp; 1.830% | CNY | 16000000 | &nbsp;&nbsp; 2306637 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **8048279** |
| **France 1.9%** | **France 1.9%** | **France 1.9%** | **France 1.9%** | **France 1.9%** |
| French Republic Government Bond OAT<sup>(j)</sup>  | French Republic Government Bond OAT<sup>(j)</sup>  | French Republic Government Bond OAT<sup>(j)</sup>  | French Republic Government Bond OAT<sup>(j)</sup>  | French Republic Government Bond OAT<sup>(j)</sup>  |
| 02/25/2031 | &nbsp;&nbsp; 2.700% | EUR | 1825000 | &nbsp;&nbsp; 2161508 |
| 11/25/2034 | &nbsp;&nbsp; 3.000% | EUR | 2005000 | &nbsp;&nbsp; 2323595 |
| 05/25/2040 | &nbsp;&nbsp; 0.500% | EUR | 1635000 | &nbsp;&nbsp; 1229976 |
| 05/25/2045 | &nbsp;&nbsp; 3.250% | EUR | 44000 | &nbsp;&nbsp; 46503 |
| 05/25/2055 | &nbsp;&nbsp; 3.250% | EUR | 500000 | &nbsp;&nbsp; 484221 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **6245803** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>|  | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Germany 1.2%** | **Germany 1.2%** | **Germany 1.2%** | **Germany 1.2%** | **Germany 1.2%** |
| Bundesrepublik Deutschland Bundesanleihe<sup>(j)</sup>  | Bundesrepublik Deutschland Bundesanleihe<sup>(j)</sup>  | Bundesrepublik Deutschland Bundesanleihe<sup>(j)</sup>  | Bundesrepublik Deutschland Bundesanleihe<sup>(j)</sup>  | Bundesrepublik Deutschland Bundesanleihe<sup>(j)</sup>  |
| 08/15/2034 | &nbsp;&nbsp; 2.600% | EUR | 1108000 | &nbsp;&nbsp; 1300485 |
| 02/15/2035 | &nbsp;&nbsp; 2.500% | EUR | 1100000 | &nbsp;&nbsp; 1276213 |
| 08/15/2056 | &nbsp;&nbsp; 2.900% | EUR | 1100000 | &nbsp;&nbsp; 1159650 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **3736348** |
| **Indonesia 0.2%** | **Indonesia 0.2%** | **Indonesia 0.2%** | **Indonesia 0.2%** | **Indonesia 0.2%** |
| Indonesia Treasury Bond | Indonesia Treasury Bond | Indonesia Treasury Bond | Indonesia Treasury Bond | Indonesia Treasury Bond |
| 09/15/2030 | &nbsp;&nbsp; 7.000% | IDR | 12104000000 | &nbsp;&nbsp; 756639 |
| **Japan 1.3%** | **Japan 1.3%** | **Japan 1.3%** | **Japan 1.3%** | **Japan 1.3%** |
| Japan Government 10-Year Bond | Japan Government 10-Year Bond | Japan Government 10-Year Bond | Japan Government 10-Year Bond | Japan Government 10-Year Bond |
| 06/20/2034 | &nbsp;&nbsp; 1.100% | JPY | 140850000 | &nbsp;&nbsp; 843798 |
| Japan Government 20-Year Bond | Japan Government 20-Year Bond | Japan Government 20-Year Bond | Japan Government 20-Year Bond | Japan Government 20-Year Bond |
| 09/20/2041 | &nbsp;&nbsp; 0.500% | JPY | 12000000 | &nbsp;&nbsp; 54198 |
| Japan Government 30-Year Bond | Japan Government 30-Year Bond | Japan Government 30-Year Bond | Japan Government 30-Year Bond | Japan Government 30-Year Bond |
| 03/20/2047 | &nbsp;&nbsp; 0.800% | JPY | 149700000 | &nbsp;&nbsp; 605977 |
| 06/20/2048 | &nbsp;&nbsp; 0.700% | JPY | 57650000 | &nbsp;&nbsp; 217915 |
| Japan Government Ten-Year Bond | Japan Government Ten-Year Bond | Japan Government Ten-Year Bond | Japan Government Ten-Year Bond | Japan Government Ten-Year Bond |
| 09/20/2035 | &nbsp;&nbsp; 1.700% | JPY | 68000000 | &nbsp;&nbsp; 420425 |
| Japan Government Thirty Year Bond | Japan Government Thirty Year Bond | Japan Government Thirty Year Bond | Japan Government Thirty Year Bond | Japan Government Thirty Year Bond |
| 06/20/2055 | &nbsp;&nbsp; 2.800% | JPY | 110000000 | &nbsp;&nbsp; 610118 |
| Japan Government Thirty-Year Bond | Japan Government Thirty-Year Bond | Japan Government Thirty-Year Bond | Japan Government Thirty-Year Bond | Japan Government Thirty-Year Bond |
| 09/20/2055 | &nbsp;&nbsp; 3.200% | JPY | 78850000 | &nbsp;&nbsp; 474241 |
| Japan Government Twenty Year Bond | Japan Government Twenty Year Bond | Japan Government Twenty Year Bond | Japan Government Twenty Year Bond | Japan Government Twenty Year Bond |
| 06/20/2045 | &nbsp;&nbsp; 2.500% | JPY | 166000000 | &nbsp;&nbsp; 972379 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **4199051** |
| **Mexico 1.2%** | **Mexico 1.2%** | **Mexico 1.2%** | **Mexico 1.2%** | **Mexico 1.2%** |
| Mexican Bonos | Mexican Bonos | Mexican Bonos | Mexican Bonos | Mexican Bonos |
| 11/23/2034 | &nbsp;&nbsp; 7.750% | MXN | 15000000 | &nbsp;&nbsp; 808662 |
| 02/21/2036 | &nbsp;&nbsp; 8.000% | MXN | 42500000 | &nbsp;&nbsp; 2292511 |
| Mexico Government International Bond | Mexico Government International Bond | Mexico Government International Bond | Mexico Government International Bond | Mexico Government International Bond |
| 05/29/2031 | &nbsp;&nbsp; 7.750% | MXN | 12500000 | &nbsp;&nbsp; 697427 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **3798600** |
| **Netherlands 0.6%** | **Netherlands 0.6%** | **Netherlands 0.6%** | **Netherlands 0.6%** | **Netherlands 0.6%** |
| Netherlands Government Bond<sup>(j),(k)</sup>  | Netherlands Government Bond<sup>(j),(k)</sup>  | Netherlands Government Bond<sup>(j),(k)</sup>  | Netherlands Government Bond<sup>(j),(k)</sup>  | Netherlands Government Bond<sup>(j),(k)</sup>  |
| 07/15/2031 | &nbsp;&nbsp; 0.000% | EUR | 435000 | &nbsp;&nbsp; 449952 |
| Netherlands Government Bond<sup>(j)</sup>  | Netherlands Government Bond<sup>(j)</sup>  | Netherlands Government Bond<sup>(j)</sup>  | Netherlands Government Bond<sup>(j)</sup>  | Netherlands Government Bond<sup>(j)</sup>  |
| 07/15/2035 | &nbsp;&nbsp; 2.500% | EUR | 1400000 | &nbsp;&nbsp; 1603648 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **2053600** |
| **New Zealand 1.0%** | **New Zealand 1.0%** | **New Zealand 1.0%** | **New Zealand 1.0%** | **New Zealand 1.0%** |
| New Zealand Government Bond | New Zealand Government Bond | New Zealand Government Bond | New Zealand Government Bond | New Zealand Government Bond |
| 05/15/2034 | &nbsp;&nbsp; 4.250% | NZD | 3000000 | &nbsp;&nbsp; 1782861 |
| 05/15/2035 | &nbsp;&nbsp; 4.500% | NZD | 2170000 | &nbsp;&nbsp; 1302740 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **3085601** |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** | **Foreign Government Obligations**<sup>(h),(i)</sup> **(continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>|  | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Sweden 1.7%** | **Sweden 1.7%** | **Sweden 1.7%** | **Sweden 1.7%** | **Sweden 1.7%** |
| Sweden Government Bond<sup>(j)</sup>  | Sweden Government Bond<sup>(j)</sup>  | Sweden Government Bond<sup>(j)</sup>  | Sweden Government Bond<sup>(j)</sup>  | Sweden Government Bond<sup>(j)</sup>  |
| 06/01/2032 | &nbsp;&nbsp; 2.250% | SEK | 12000000 | &nbsp;&nbsp; 1330906 |
| 05/11/2035 | &nbsp;&nbsp; 2.250% | SEK | 34000000 | &nbsp;&nbsp; 3670407 |
| Sweden Government Bond | Sweden Government Bond | Sweden Government Bond | Sweden Government Bond | Sweden Government Bond |
| 03/30/2039 | &nbsp;&nbsp; 3.500% | SEK | 3910000 | &nbsp;&nbsp; 466450 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **5467763** |
| **United Kingdom 1.1%** | **United Kingdom 1.1%** | **United Kingdom 1.1%** | **United Kingdom 1.1%** | **United Kingdom 1.1%** |
| United Kingdom Gilt<sup>(j)</sup>  | United Kingdom Gilt<sup>(j)</sup>  | United Kingdom Gilt<sup>(j)</sup>  | United Kingdom Gilt<sup>(j)</sup>  | United Kingdom Gilt<sup>(j)</sup>  |
| 06/07/2032 | &nbsp;&nbsp; 4.250% | GBP | 900000 | &nbsp;&nbsp; 1240916 |
| 03/07/2035 | &nbsp;&nbsp; 4.500% | GBP | 405000 | &nbsp;&nbsp; 553266 |
| 01/22/2044 | &nbsp;&nbsp; 3.250% | GBP | 1362297 | &nbsp;&nbsp; 1450079 |
| 07/31/2054 | &nbsp;&nbsp; 4.375% | GBP | 257000 | &nbsp;&nbsp; 304677 |
| **Total** | **Total** | **Total** | **Total** | &nbsp;&nbsp; **3548938** |
| Total Foreign Government Obligations <br>(Cost $49,304,153) | Total Foreign Government Obligations <br>(Cost $49,304,153) | Total Foreign Government Obligations <br>(Cost $49,304,153) | Total Foreign Government Obligations <br>(Cost $49,304,153) | &nbsp;&nbsp; **48902484** |
| **Inflation-Indexed Bonds 0.3%** | **Inflation-Indexed Bonds 0.3%** | **Inflation-Indexed Bonds 0.3%** | **Inflation-Indexed Bonds 0.3%** | **Inflation-Indexed Bonds 0.3%** |
| **United States 0.3%** | **United States 0.3%** | **United States 0.3%** | **United States 0.3%** | **United States 0.3%** |
| U.S. Treasury Inflation-Indexed Bond | U.S. Treasury Inflation-Indexed Bond | U.S. Treasury Inflation-Indexed Bond | U.S. Treasury Inflation-Indexed Bond | U.S. Treasury Inflation-Indexed Bond |
| 07/15/2027 | &nbsp;&nbsp; 0.375% |  | 968729 | &nbsp;&nbsp; 965739 |
| Total Inflation-Indexed Bonds <br>(Cost $961,646) | Total Inflation-Indexed Bonds <br>(Cost $961,646) | Total Inflation-Indexed Bonds <br>(Cost $961,646) | Total Inflation-Indexed Bonds <br>(Cost $961,646) | &nbsp;&nbsp; **965739** |

---

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

---

| | | |
|:---|:---|:---|
| **Preferred Stocks 0.1%** | **Preferred Stocks 0.1%** | **Preferred Stocks 0.1%** |
| **Issuer** | **Shares** | **Value ($)** |
| **South Korea 0.1%** | **South Korea 0.1%** | **South Korea 0.1%** |
| Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 4582 | &nbsp;&nbsp; 371147 |
| Total Preferred Stocks <br>(Cost $254,906) | Total Preferred Stocks <br>(Cost $254,906) | &nbsp;&nbsp; **371147** |

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency 4.0%** | **Residential Mortgage-Backed Securities - Agency 4.0%** | **Residential Mortgage-Backed Securities - Agency 4.0%** | **Residential Mortgage-Backed Securities - Agency 4.0%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **United States 4.0%** | **United States 4.0%** | **United States 4.0%** | **United States 4.0%** |
| Government National Mortgage Association TBA<sup>(l)</sup>  | Government National Mortgage Association TBA<sup>(l)</sup>  | Government National Mortgage Association TBA<sup>(l)</sup>  | Government National Mortgage Association TBA<sup>(l)</sup>  |
| 02/19/2056 | &nbsp;&nbsp; 3.500% | 1950000 | &nbsp;&nbsp; 1786100 |
| 02/19/2056 | &nbsp;&nbsp; 4.000% | 1330000 | &nbsp;&nbsp; 1257490 |
| Uniform Mortgage-Backed Security TBA<sup>(l)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(l)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(l)</sup>  | Uniform Mortgage-Backed Security TBA<sup>(l)</sup>  |
| 02/17/2041 | &nbsp;&nbsp; 2.500% | 1450000 | &nbsp;&nbsp; 1369076 |
| 02/17/2041 - 03/13/2054 | &nbsp;&nbsp; 3.000% | 2475000 | &nbsp;&nbsp; 2300000 |
| 03/13/2055 | &nbsp;&nbsp; 3.500% | 1150000 | &nbsp;&nbsp; 1062344 |
| 03/13/2055 | &nbsp;&nbsp; 4.000% | 1025000 | &nbsp;&nbsp; 977803 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Residential Mortgage-Backed Securities - Agency (continued)** | **Residential Mortgage-Backed Securities - Agency (continued)** | **Residential Mortgage-Backed Securities - Agency (continued)** | **Residential Mortgage-Backed Securities - Agency (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| 03/13/2055 | &nbsp;&nbsp; 5.000% | 3200000 | &nbsp;&nbsp; 3194618 |
| 03/12/2056 | &nbsp;&nbsp; 4.500% | 900000 | &nbsp;&nbsp; 880636 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **12828067** |
| Total Residential Mortgage-Backed Securities - Agency <br>(Cost $12,835,856) | Total Residential Mortgage-Backed Securities - Agency <br>(Cost $12,835,856) | Total Residential Mortgage-Backed Securities - Agency <br>(Cost $12,835,856) | &nbsp;&nbsp; **12828067** |
| **U.S. Treasury Obligations 0.9%** | **U.S. Treasury Obligations 0.9%** | **U.S. Treasury Obligations 0.9%** | **U.S. Treasury Obligations 0.9%** |
| **United States 0.9%** | **United States 0.9%** | **United States 0.9%** | **United States 0.9%** |
| U.S. Treasury | U.S. Treasury | U.S. Treasury | U.S. Treasury |
| 08/15/2034 | &nbsp;&nbsp; 3.875% | 600000 | &nbsp;&nbsp; 587531 |
| 11/15/2034 | &nbsp;&nbsp; 4.250% | 1060000 | &nbsp;&nbsp; 1064803 |
| 11/15/2035 | &nbsp;&nbsp; 4.000% | 1273000 | &nbsp;&nbsp; 1246944 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2899278** |
| Total U.S. Treasury Obligations <br>(Cost $2,914,919) | Total U.S. Treasury Obligations <br>(Cost $2,914,919) | Total U.S. Treasury Obligations <br>(Cost $2,914,919) | &nbsp;&nbsp; **2899278** |

---

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

---

| | | |
|:---|:---|:---|
| **Fixed Income Funds 2.9%** | **Fixed Income Funds 2.9%** | **Fixed Income Funds 2.9%** |
|  | **Shares** | **Value ($)** |
| **United States 2.9%** | **United States 2.9%** | **United States 2.9%** |
| Columbia High Yield Bond Fund, Institutional 3 <br> Class<sup>(a)</sup> <br>| &nbsp;&nbsp; 838855 | &nbsp;&nbsp; 9378402 |
| Total Fixed Income Funds <br>(Cost $9,011,904) | Total Fixed Income Funds <br>(Cost $9,011,904) | &nbsp;&nbsp; **9378402** |

---

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

---

| | |
|:---|:---|
| **Call Option Contracts Purchased 0.0%** | **Call Option Contracts Purchased 0.0%** |
|  | **Value ($)** |
| (Cost $19,647) | &nbsp;&nbsp; **20464** |

---

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

---

| | | |
|:---|:---|:---|
| **Money Market Funds 20.3%** | **Money Market Funds 20.3%** | **Money Market Funds 20.3%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(a),(m)</sup> <br>| &nbsp;&nbsp; 65077825 | &nbsp;&nbsp; 65058301 |
| Total Money Market Funds <br>(Cost $65,056,222) | Total Money Market Funds <br>(Cost $65,056,222) | &nbsp;&nbsp; **65058301** |
| **Total Investments in Securities** <br>**(Cost $279,515,112)** | **Total Investments in Securities** <br>**(Cost $279,515,112)** | &nbsp;&nbsp; **328650964** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **(7556930)**<br>|
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$321094034** |

---

At January 31, 2026, securities and/or cash totaling $5,361,863 were pledged as collateral.

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Investments in derivatives** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** | **Forward foreign currency exchange contracts** |
| **Currency to** <br>**be sold**<br>| &nbsp;&nbsp;&nbsp; **Currency to** <br>**be purchased**<br>| **Counterparty** | **Settlement** <br>**date**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**depreciation ($)**<br>|
| 99,000 EUR | &nbsp;&nbsp;&nbsp;&nbsp; 118,358 USD | Barclays | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 963 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 1,108,672 USD | &nbsp;&nbsp;&nbsp;&nbsp; 869,000 CHF | Barclays | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 16462 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 2,181,469 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,615,000 GBP | Barclays | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 28397 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 3,590,000 EUR | &nbsp;&nbsp;&nbsp;&nbsp; 4,275,015 USD | Barclays | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12571 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 147,175 USD | &nbsp;&nbsp;&nbsp;&nbsp; 3,000,000 CZK | Barclays | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1018)<br>|
| 11,867,339 USD | &nbsp;&nbsp;&nbsp;&nbsp; 9,965,754 EUR | Barclays | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34900)<br>|
| 2,856,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp; 2,088,139 USD | Citi | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (10066)<br>|
| 505,000 SGD | &nbsp;&nbsp;&nbsp;&nbsp; 393,968 USD | Citi | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3247)<br>|
| 112,701,000 SEK | &nbsp;&nbsp;&nbsp;&nbsp; 12,652,059 USD | Citi | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (22716)<br>|
| 14,553,651 USD | &nbsp;&nbsp;&nbsp;&nbsp; 2,229,750,365 JPY | Citi | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (103598)<br>|
| 346,342 USD | &nbsp;&nbsp;&nbsp;&nbsp; 10,747,000 THB | Citi | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3982)<br>|
| 282,000 PLN | &nbsp;&nbsp;&nbsp;&nbsp; 78,530 USD | Goldman Sachs International | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (838)<br>|
| 113,064 USD | &nbsp;&nbsp;&nbsp;&nbsp; 97,000 EUR | Goldman Sachs International | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1961 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 1,976,000 CHF | &nbsp;&nbsp;&nbsp;&nbsp; 2,564,735 USD | Goldman Sachs International | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (991)<br>|
| 648,971 USD | &nbsp;&nbsp;&nbsp;&nbsp; 500,000 CHF | Goldman Sachs International | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 251 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 361,917 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,435,000 MYR | Goldman Sachs International | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2528 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 1,587,041 USD | &nbsp;&nbsp;&nbsp;&nbsp; 2,371,000 AUD | HSBC | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 63984 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 6,395,956,000 IDR | &nbsp;&nbsp;&nbsp;&nbsp; 380,440 USD | HSBC | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (606)<br>|
| 4,893,000 NZD | &nbsp;&nbsp;&nbsp;&nbsp; 2,931,445 USD | HSBC | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (18466)<br>|
| 1,699,835 USD | &nbsp;&nbsp;&nbsp;&nbsp; 11,864,000 CNY | HSBC | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4323 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 1,248,328 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,799,715,000 KRW | HSBC | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6320)<br>|
| 3,032,096 USD | &nbsp;&nbsp;&nbsp;&nbsp; 5,061,000 NZD | HSBC | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 19100 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 266,301 USD | &nbsp;&nbsp;&nbsp;&nbsp; 337,000 SGD | HSBC | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (742)<br>|
| 168,000 AUD | &nbsp;&nbsp;&nbsp;&nbsp; 113,539 USD | JPMorgan | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3446)<br>|
| 90,000 CHF | &nbsp;&nbsp;&nbsp;&nbsp; 113,312 USD | JPMorgan | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3215)<br>|
| 491,000 DKK | &nbsp;&nbsp;&nbsp;&nbsp; 78,627 USD | JPMorgan | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 657 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 178,392,000 JPY | &nbsp;&nbsp;&nbsp;&nbsp; 1,148,789 USD | JPMorgan | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4741)<br>|
| 885,000 NZD | &nbsp;&nbsp;&nbsp;&nbsp; 517,364 USD | JPMorgan | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15662)<br>|
| 302,770 USD | &nbsp;&nbsp;&nbsp;&nbsp; 259,000 EUR | JPMorgan | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4357 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 5,180,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp; 3,793,566 USD | JPMorgan | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (16172)<br>|
| 6,862,000 GBP | &nbsp;&nbsp;&nbsp;&nbsp; 9,404,440 USD | JPMorgan | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 15206 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 2,506,829 USD | &nbsp;&nbsp;&nbsp;&nbsp; 3,423,000 CAD | JPMorgan | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10687 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 875,345 USD | &nbsp;&nbsp;&nbsp;&nbsp; 638,700 GBP | JPMorgan | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1415)<br>|
| 112,000 GBP | &nbsp;&nbsp;&nbsp;&nbsp; 150,817 USD | Morgan Stanley | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2437)<br>|
| 563,210,000 KRW | &nbsp;&nbsp;&nbsp;&nbsp; 393,440 USD | Morgan Stanley | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2966 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 868,021,000 KRW | &nbsp;&nbsp;&nbsp;&nbsp; 586,745 USD | Morgan Stanley | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15056)<br>|
| 14,742,000 TWD | &nbsp;&nbsp;&nbsp;&nbsp; 466,274 USD | Morgan Stanley | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1364)<br>|
| 237,514 USD | &nbsp;&nbsp;&nbsp;&nbsp; 2,390,000 NOK | Morgan Stanley | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 10648 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 61,770,000 MXN | &nbsp;&nbsp;&nbsp;&nbsp; 3,558,415 USD | Morgan Stanley | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 35049 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 178,067 USD | &nbsp;&nbsp;&nbsp;&nbsp; 555,000 ILS | Morgan Stanley | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1032 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 7,833,750 USD | &nbsp;&nbsp;&nbsp;&nbsp; 76,428,803 NOK | Morgan Stanley | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 101125 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 223,232 USD | &nbsp;&nbsp;&nbsp;&nbsp; 790,000 PLN | Morgan Stanley | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (906)<br>|
| 167,000 AUD | &nbsp;&nbsp;&nbsp;&nbsp; 112,344 USD | State Street | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3945)<br>|
| 366,000 CAD | &nbsp;&nbsp;&nbsp;&nbsp; 264,801 USD | State Street | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4086)<br>|
| 17,964,000 JPY | &nbsp;&nbsp;&nbsp;&nbsp; 113,518 USD | State Street | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2642)<br>|
| 311,446 USD | &nbsp;&nbsp;&nbsp;&nbsp; 428,000 CAD | State Street | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2991 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 75,200 USD | &nbsp;&nbsp;&nbsp;&nbsp; 56,000 GBP | State Street | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1427 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 75,272 USD | &nbsp;&nbsp;&nbsp;&nbsp; 757,000 NOK | State Street | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3330 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 436,514 USD | &nbsp;&nbsp;&nbsp;&nbsp; 3,996,000 SEK | State Street | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12288 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 1,263,098 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,069,000 EUR | UBS | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4544 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 2,638,387 USD | &nbsp;&nbsp;&nbsp;&nbsp; 3,805,000 AUD | UBS | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 11034 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 78,796 USD | &nbsp;&nbsp;&nbsp;&nbsp; 696,000 SEK | Wells Fargo | 02/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (626)<br>|
| 254,079 USD | &nbsp;&nbsp;&nbsp;&nbsp; 1,593,000 DKK | Wells Fargo | 03/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (722)<br>|
| Total |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 367881 | &nbsp;&nbsp;&nbsp;&nbsp; (283925)<br>|

---

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

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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>|
| 10-Year Mini Japanese Government Bond | 3 | 03/2026 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 39477000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3840)<br>|
| Bloomberg HY Credit | 58 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 6528480 | &nbsp;&nbsp;&nbsp;&nbsp; 718 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Bloomberg IG Credit | 114 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 12197430 | &nbsp;&nbsp;&nbsp;&nbsp; 12498 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Bloomberg MSCI Euro Corporate Sustainable SRI <br> Index<br>| 37 | 03/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 6351790 | &nbsp;&nbsp;&nbsp;&nbsp; 49852 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| CAC40 Index | 79 | 02/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 6427835 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (211790)<br>|
| Canadian Government 10-Year Bond | 31 | 03/2026 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 3753480 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (25905)<br>|
| Euro-Bobl | 4 | 03/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 466440 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (229)<br>|
| Euro-OAT | 34 | 03/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 4145620 | &nbsp;&nbsp;&nbsp;&nbsp; 35694 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese 10-Year Government Bond | 4 | 03/2026 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; 526440000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (50511)<br>|
| MSCI EAFE Index | 22 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3340480 | &nbsp;&nbsp;&nbsp;&nbsp; 72524 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| MSCI Emerging Markets Index | 201 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 15284040 | &nbsp;&nbsp;&nbsp;&nbsp; 417706 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Russell 2000 Index E-mini | 16 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2099680 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (12931)<br>|
| S&P 500 Index E-mini | 30 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 10448625 | &nbsp;&nbsp;&nbsp;&nbsp; 38758 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| S&P 500 Index E-mini | 14 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4876025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (26453)<br>|
| S&P/TSX 60 Index | 60 | 03/2026 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; 22232400 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (312903)<br>|
| U.S. Long Bond | 30 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3453750 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (53262)<br>|
| U.S. Treasury 10-Year Note | 22 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2460219 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (26621)<br>|
| U.S. Treasury 5-Year Note | 77 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 8387586 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (55467)<br>|
| U.S. Treasury Ultra 10-Year Note | 25 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2853906 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (40192)<br>|
| U.S. Treasury Ultra Bond | 23 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2701063 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (65446)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 627750 | &nbsp;&nbsp;&nbsp;&nbsp; (885550)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&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>|
| Australian 10-Year Bond | (9) | 03/2026 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; (982367)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 511 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Euro STOXX 50 Index | (58) | 03/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; (3451580)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (116851)<br>|
| FTSE/MIB Index | (26) | 03/2026 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; (5935280)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (216078)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 511 | &nbsp;&nbsp;&nbsp;&nbsp; (332929)<br>|

---

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 ($)** | **Value ($)** |
| CBOE Volatility Index | Morgan Stanley | USD | &nbsp;&nbsp; 128982 | &nbsp;&nbsp; 74 | 20.00 | &nbsp;&nbsp; 02/18/2026 | &nbsp;&nbsp; 11447 | &nbsp;&nbsp; 11692 |
| CBOE Volatility Index | Morgan Stanley | USD | &nbsp;&nbsp; 59262 | &nbsp;&nbsp; 34 | 20.00 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; 8200 | &nbsp;&nbsp; 8772 |
| Total |  |  |  |  |  |  | &nbsp;&nbsp; 19647 | &nbsp;&nbsp; 20464 |

---

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| Celestica, Inc. | Morgan Stanley | USD | &nbsp;&nbsp; (56198)<br>| &nbsp;&nbsp; (2)<br>| 350.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (1005)<br>| &nbsp;&nbsp; (640)<br>|
| Energy Fuels, Inc. | Morgan Stanley | USD | &nbsp;&nbsp; (58344)<br>| &nbsp;&nbsp; (26)<br>| 25.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (6219)<br>| &nbsp;&nbsp; (3562)<br>|
| Energy Fuels, Inc. | Morgan Stanley | USD | &nbsp;&nbsp; (154836)<br>| &nbsp;&nbsp; (69)<br>| 30.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (2744)<br>| &nbsp;&nbsp; (3830)<br>|
| Galaxy Digital, Inc. | Morgan Stanley | USD | &nbsp;&nbsp; (36738)<br>| &nbsp;&nbsp; (13)<br>| 35.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (839)<br>| &nbsp;&nbsp; (1064)<br>|
| NexGen Energy Ltd. | Morgan Stanley | USD | &nbsp;&nbsp; (61593)<br>| &nbsp;&nbsp; (49)<br>| 16.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (660)<br>| &nbsp;&nbsp; (613)<br>|
| NexGen Energy Ltd. | Morgan Stanley | USD | &nbsp;&nbsp; (76677)<br>| &nbsp;&nbsp; (61)<br>| 15.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (1432)<br>| &nbsp;&nbsp; (1525)<br>|
| NexGen Energy Ltd. | Morgan Stanley | USD | &nbsp;&nbsp; (91761)<br>| &nbsp;&nbsp; (73)<br>| 14.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (1349)<br>| &nbsp;&nbsp; (2920)<br>|
| Pan American Silver Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (38220)<br>| &nbsp;&nbsp; (7)<br>| 80.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (1359)<br>| &nbsp;&nbsp; (228)<br>|
| Pan American Silver Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (54600)<br>| &nbsp;&nbsp; (10)<br>| 75.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (627)<br>| &nbsp;&nbsp; (550)<br>|
| Pan American Silver Corp. | Morgan Stanley | USD | &nbsp;&nbsp; (43680)<br>| &nbsp;&nbsp; (8)<br>| 70.00 | &nbsp;&nbsp; 02/20/2026 | &nbsp;&nbsp; (957)<br>| &nbsp;&nbsp; (560)<br>|
| Total |  |  |  |  |  |  | &nbsp;&nbsp; (17191)<br>| &nbsp;&nbsp; (15492)<br>|

---

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

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 Emerging Markets Index, <br> Series 44<br>| Morgan Stanley | 12/20/2030 | 1.000 | Quarterly | 1.277 | USD | 2300000 | 23327 |  |  | 23327 |  |
| CDX North America <br> Investment Grade Index, <br> Series 45<br>| Morgan Stanley | 12/20/2030 | 1.000 | Quarterly | 0.495 | USD | 6300000 | 12999 |  |  | 12999 |  |
| iTraxx Europe Main Index, <br> Series 44<br>| Morgan Stanley | 12/20/2030 | 1.000 | Quarterly | 0.514 | EUR | 9550000 | 37905 |  |  | 37905 |  |
| Total |  |  |  |  |  |  |  | 74231 |  |  | 74231 |  |

---

\* 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.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** | **Total return swap contracts** |
| **Fund receives** | **Fund pays** | **Payment** <br>**frequency**<br>| **Counterparty** | **Maturity** <br>**date**<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>|
| SOFR plus 0.590% | Total return on <br> Russell 1000 <br> Growth Total <br> Return<br>| Monthly | Goldman Sachs <br> International<br>| 01/29/2027 | USD | 6501304 | 50559 |  |  |  | 50559 |  |
| Total return on <br> Russell 1000 <br> Value Index<br>| SOFR plus 0.670% | Monthly | Goldman Sachs <br> International<br>| 01/29/2027 | USD | 6503008 | (16365)<br>|  |  |  |  | (16365)<br>|
| Total |  |  |  |  |  |  | 34194 |  |  |  | 50559 | (16365)<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Reference index and values for swap contracts as of period end** | **Reference index and values for swap contracts as of period end** | **Reference index and values for swap contracts as of period end** |
| **Reference index**  |  | **Reference rate** |
| SOFR | Secured Overnight Financing Rate | 3.650% |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended January 31, 2026 are as follows:

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Capital gain** <br>**distributions($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends —** <br>**affiliated** <br>**issuers ($)**<br>| **End of** <br>**period shares**<br>|
| Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  | Columbia Commodity Strategy Fund, Institutional 3 Class  |
|  | 6232642 | 198416 |  | 1152357 | 7583415 |  |  | 198416 | 649821 |
| Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  | Columbia High Yield Bond Fund, Institutional 3 Class  |
|  | 9042511 | 295606 |  | 40285 | 9378402 |  |  | 295606 | 838855 |
| Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  |
|  | 57219726 | 120396224 | (112561729)<br>| 4080 | 65058301 |  | (3212)<br>| 1324154 | 65077825 |
| Total | 72494879 |  |  | 1196722 | 82020118 |  | (3212)<br>| 1818176 |  |

---

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

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(c) This security or a portion of this security has been pledged as collateral in connection with investments sold short and/or derivative contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2026, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. At January 31, 2026, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **Acquisition** <br>**Dates**<br>| **Shares** | **Cost ($)** | **Value ($)** |
| Detsky Mir PJSC | 02/08/2017-09/21/2020 | &nbsp;&nbsp; 290936 | &nbsp;&nbsp; 422857 | &nbsp;&nbsp; — |
| Lukoil PJSC | 01/25/2022-01/26/2022 | &nbsp;&nbsp; 2750 | &nbsp;&nbsp; 225708 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; 648565 | &nbsp;&nbsp; — |

---

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(g) As a result of sanctions and restricted cross-border payments, certain payments have not been recognized by the Fund. The Fund will continue to monitor the net realizable value and record payments when it is considered collectible.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Principal amounts are denominated in United States Dollars unless otherwise noted.

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

&nbsp;&nbsp;&nbsp;&nbsp;(j) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $21,643,915, which represents 6.74% of total net assets.

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

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

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

**Abbreviation Legend** 

ADR American Depositary Receipt <br> TBA To Be Announced

**Currency Legend** 

---

| | |
|:---|:---|
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CNY | China Yuan Renminbi |
| CZK | Czech Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PLN | Polish Zloty |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Currency Legend (continued)**

THB Thai Baht <br> TWD New Taiwan Dollar <br> 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.

Values of foreign equity securities actively traded in markets where there is a significant delay in the local close relative to the New York Stock Exchange may include an adjustment to reflect the impact of market movements following the close of local trading, as described in Note 2 to the financial statements – Security valuation. When such adjustments have been made, the foreign equity securities are classified as Level 2.

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Alternative Strategies Funds | 7583415 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7583415 |
| Common Stocks |  |  |  |  |
| Australia |  | &nbsp;&nbsp;&nbsp;&nbsp; 1796800 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1796800 |
| Austria |  | &nbsp;&nbsp;&nbsp;&nbsp; 284183 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 284183 |
| Belgium | 120918 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 120918 |
| Brazil | 2101694 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2101694 |
| Canada | 1840792 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1840792 |
| China | 586924 | &nbsp;&nbsp;&nbsp;&nbsp; 5309388 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5896312 |
| Denmark |  | &nbsp;&nbsp;&nbsp;&nbsp; 740065 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 740065 |
| Finland | 108168 | &nbsp;&nbsp;&nbsp;&nbsp; 610988 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 719156 |

---

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| France |  | &nbsp;&nbsp;&nbsp;&nbsp; 2271779 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2271779 |
| Germany |  | &nbsp;&nbsp;&nbsp;&nbsp; 1010014 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1010014 |
| Greece | 844618 | &nbsp;&nbsp;&nbsp;&nbsp; 1388770 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2233388 |
| Hong Kong |  | &nbsp;&nbsp;&nbsp;&nbsp; 1080794 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1080794 |
| India | 397708 | &nbsp;&nbsp;&nbsp;&nbsp; 1238805 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1636513 |
| Ireland | 377533 | &nbsp;&nbsp;&nbsp;&nbsp; 482840 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 860373 |
| Israel | 677471 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 677471 |
| Italy | 326487 | &nbsp;&nbsp;&nbsp;&nbsp; 736510 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1062997 |
| Japan | 457940 | &nbsp;&nbsp;&nbsp;&nbsp; 8525673 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8983613 |
| Kazakhstan | 267357 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 267357 |
| Mexico | 273951 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 273951 |
| Netherlands |  | &nbsp;&nbsp;&nbsp;&nbsp; 3283316 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3283316 |
| Norway |  | &nbsp;&nbsp;&nbsp;&nbsp; 571423 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 571423 |
| Poland |  | &nbsp;&nbsp;&nbsp;&nbsp; 964821 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 964821 |
| Russian Federation |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>|
| Singapore | 158310 | &nbsp;&nbsp;&nbsp;&nbsp; 313323 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 471633 |
| South Africa |  | &nbsp;&nbsp;&nbsp;&nbsp; 878142 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 878142 |
| South Korea | 439469 | &nbsp;&nbsp;&nbsp;&nbsp; 4630573 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5070042 |
| Spain | 548108 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 548108 |
| Switzerland | 1548321 | &nbsp;&nbsp;&nbsp;&nbsp; 817774 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2366095 |
| Taiwan |  | &nbsp;&nbsp;&nbsp;&nbsp; 5915309 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5915309 |
| Turkey |  | &nbsp;&nbsp;&nbsp;&nbsp; 149296 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 149296 |
| United Arab Emirates | 103535 | &nbsp;&nbsp;&nbsp;&nbsp; 777146 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 880681 |
| United Kingdom | 1304047 | &nbsp;&nbsp;&nbsp;&nbsp; 1713614 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3017661 |
| United States | 101793487 | &nbsp;&nbsp;&nbsp;&nbsp; 961891 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 102755378 |
| Vietnam | 161942 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161942 |
| Total Common Stocks | 114438780 | &nbsp;&nbsp;&nbsp;&nbsp; 46453237 | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 160892017 |
| Exchange-Traded Equity Funds | 5132236 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5132236 |
| Exchange-Traded Fixed Income Funds | 14619414 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14619414 |
| Fixed Income Funds | 9378402 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9378402 |
| Foreign Government Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 48902484 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 48902484 |
| Inflation-Indexed Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp; 965739 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 965739 |
| Preferred Stocks |  |  |  |  |
| South Korea |  | &nbsp;&nbsp;&nbsp;&nbsp; 371147 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 371147 |
| Total Preferred Stocks |  | &nbsp;&nbsp;&nbsp;&nbsp; 371147 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 371147 |
| Residential Mortgage-Backed Securities - Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 12828067 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12828067 |
| U.S. Treasury Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 2899278 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2899278 |
| Call Option Contracts Purchased | 20464 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20464 |
| Money Market Funds | 65058301 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 65058301 |
| Total Investments in Securities | 216231012 | &nbsp;&nbsp;&nbsp;&nbsp; 112419952 | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 328650964 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Forward Foreign Currency Exchange Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; 367881 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 367881 |
| Futures Contracts | 628261 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 628261 |
| Swap Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; 124790 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 124790 |
| Liability |  |  |  |  |
| Forward Foreign Currency Exchange Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; (283925)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (283925)<br>|
| Futures Contracts | (1218479)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1218479)<br>|
| Call Option Contracts Written | (15492)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15492)<br>|
| Swap Contracts |  | &nbsp;&nbsp;&nbsp;&nbsp; (16365)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (16365)<br>|
| Total | 215625302 | &nbsp;&nbsp;&nbsp;&nbsp; 112612333 | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 328237635 |

---

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

\* Rounds to zero.

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

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

Columbia Global Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

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. These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The model utilized by such third party statistical pricing service takes into account a security's correlation to available market data including relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable.

Forward foreign currency exchange contracts, 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 Global Opportunities Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $198,876,423) | $246610382 |
| Affiliated issuers (cost $80,619,042) | 82020118 |
| Option contracts purchased (cost $19,647) | 20464 |
| Cash | 589 |
| Foreign currency (cost $1,385,156) | 1382851 |
| Margin deposits on: |  |
| Futures contracts | 4186113 |
| Swap contracts | 500827 |
| Unrealized appreciation on forward foreign currency exchange contracts | 367881 |
| Unrealized appreciation on swap contracts | 50559 |
| Receivable for: |  |
| Investments sold | 3034399 |
| Investments sold on a delayed delivery basis  | 7040103 |
| Capital shares sold | 2040 |
| Dividends | 332590 |
| Interest | 644537 |
| Foreign tax reclaims | 147426 |
| Variation margin for futures contracts | 59871 |
| Prepaid expenses | 3169 |
| Other assets | 4144 |
| Total assets | 346408063 |
| **Liabilities** |  |
| Option contracts written, at value (premiums received $17,191) | 15492 |
| Unrealized depreciation on forward foreign currency exchange contracts | 283925 |
| Unrealized depreciation on swap contracts | 16365 |
| Payable for: |  |
| Investments purchased | 3609574 |
| Investments purchased on a delayed delivery basis | 19864800 |
| Capital shares redeemed | 78711 |
| Variation margin for futures contracts | 1104854 |
| Variation margin for swap contracts | 3241 |
| Foreign capital gains taxes deferred | 63570 |
| Management services fees | 6073 |
| Distribution and/or service fees | 2140 |
| Transfer agent fees | 24630 |
| Compensation of chief compliance officer | 26 |
| Compensation of board members | 733 |
| Other expenses | 67402 |
| Deferred compensation of board members | 172493 |
| Total liabilities | 25314029 |
| **Net assets applicable to outstanding capital stock** | **$321094034** |
| **Represented by** |  |
| Paid in capital | 269950962 |
| Total distributable earnings (loss) | 51143072 |
| **Total - representing net assets applicable to outstanding capital stock** | **$321094034** |
| **Class A** |  |
| Net assets | $308655888 |
| Shares outstanding | 22760418 |
| Net asset value per share | $13.56 |
| Maximum sales charge  | 5.75% |
| Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $14.39 |
| **Institutional Class** |  |
| Net assets | $12438146 |
| Shares outstanding | 903737 |
| Net asset value per share | $13.76 |

---

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

Columbia Global Opportunities Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $1688078 |
| Dividends — affiliated issuers | 1818176 |
| Interest | 868668 |
| Interfund lending | 1262 |
| European Union tax reclaim | 42628 |
| Foreign taxes withheld | (89590)<br>|
| Total income | 4329222 |
| Expenses: |  |
| Management services fees | 1100891 |
| Distribution and/or service fees |  |
| Class A | 387077 |
| Transfer agent fees |  |
| Class A | 136835 |
| Institutional Class | 5336 |
| Custodian fees | 71961 |
| Printing and postage fees | 17698 |
| Registration fees | 24950 |
| Accounting services fees | 30327 |
| Legal fees | 10736 |
| Interest on collateral | 2593 |
| Compensation of chief compliance officer | 26 |
| Compensation of board members | 7279 |
| Deferred compensation of board members | 21391 |
| Other | 13709 |
| Total expenses | 1830809 |
| **Net investment income** | 2498413 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 20019822 |
| Investments — affiliated issuers | (3212)<br>|
| Foreign currency translations | 42497 |
| Forward foreign currency exchange contracts | (963443)<br>|
| Futures contracts | 1987922 |
| Option contracts purchased | 15950 |
| Option contracts written | 27668 |
| Swap contracts | 899862 |
| Net realized gain | 22027066 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 4907472 |
| Investments — affiliated issuers | 1196722 |
| Foreign currency translations | 19160 |
| Forward foreign currency exchange contracts | 742442 |
| Futures contracts | (751295)<br>|
| Option contracts purchased | 817 |
| Option contracts written | 12166 |
| Swap contracts | (27905)<br>|
| Foreign capital gains tax | 64414 |
| Net change in unrealized appreciation (depreciation) | 6163993 |
| Net realized and unrealized gain | 28191059 |
| **Net increase in net assets resulting from operations** | **$30689472** |

---

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

Columbia Global Opportunities Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $2498413 | &nbsp;&nbsp; $4966111 |
| Net realized gain | 22027066 | &nbsp;&nbsp; 27884635 |
| Net change in unrealized appreciation (depreciation) | 6163993 | &nbsp;&nbsp; (6101976)<br>|
| Net increase in net assets resulting from operations | 30689472 | &nbsp;&nbsp; 26748770 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (47009809)<br>| &nbsp;&nbsp; (1422405)<br>|
| Institutional Class | (1934348)<br>| &nbsp;&nbsp; (77421)<br>|
| Total distributions to shareholders | (48944157)<br>| &nbsp;&nbsp; (1499826)<br>|
| Increase (decrease) in net assets from capital stock activity | 25681630 | &nbsp;&nbsp; (43195011)<br>|
| Total increase (decrease) in net assets | 7426945 | &nbsp;&nbsp; (17946067)<br>|
| Net assets at beginning of period | 313667089 | &nbsp;&nbsp; 331613156 |
| **Net assets at end of period** | **$321094034** | &nbsp;&nbsp; **$313667089** |

---

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

Columbia Global Opportunities Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 143185 | &nbsp;&nbsp;&nbsp;&nbsp; 2084774 | &nbsp;&nbsp;&nbsp;&nbsp; 104946 | &nbsp;&nbsp;&nbsp;&nbsp; 1443231 |
| Distributions reinvested | 3571584 | &nbsp;&nbsp;&nbsp;&nbsp; 46752039 | &nbsp;&nbsp;&nbsp;&nbsp; 104685 | &nbsp;&nbsp;&nbsp;&nbsp; 1414289 |
| Shares redeemed | (1746525)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25238666)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3215128)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (44233018)<br>|
| Net increase (decrease) | 1968244 | &nbsp;&nbsp;&nbsp;&nbsp; 23598147 | &nbsp;&nbsp;&nbsp;&nbsp; (3005497)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (41375498)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 820 | &nbsp;&nbsp;&nbsp;&nbsp; 11491 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (81355)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1135026)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (80535)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1123535)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 190677 | &nbsp;&nbsp;&nbsp;&nbsp; 2890418 | &nbsp;&nbsp;&nbsp;&nbsp; 353194 | &nbsp;&nbsp;&nbsp;&nbsp; 4925469 |
| Distributions reinvested | 142580 | &nbsp;&nbsp;&nbsp;&nbsp; 1893459 | &nbsp;&nbsp;&nbsp;&nbsp; 5523 | &nbsp;&nbsp;&nbsp;&nbsp; 75557 |
| Shares redeemed | (184131)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2700394)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (409097)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5697004)<br>|
| Net increase (decrease) | 149126 | &nbsp;&nbsp;&nbsp;&nbsp; 2083483 | &nbsp;&nbsp;&nbsp;&nbsp; (50380)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (695978)<br>|
| **Total net increase (decrease)** | **2117370** | &nbsp;&nbsp;&nbsp;&nbsp; **25681630** | &nbsp;&nbsp;&nbsp;&nbsp; **(3136412)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(43195011)**<br>|

---

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

Columbia Global Opportunities Fund \| 2026

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Columbia Global Opportunities Fund \| 2026

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Financial Highlights

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $14.55 | 0.11 <br><sup>(c)</sup><br>| 1.27 | 1.38 | &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (2.02)<br>| &nbsp;&nbsp; (2.37)<br>|
| Year Ended 7/31/2025 | $13.43 | 0.21 <br><sup>(c)</sup><br>| 0.97 | 1.18 | &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.06)<br>|
| Year Ended 7/31/2024 | $12.31 | 0.21 <br><sup>(c)</sup><br>| 0.91 | 1.12 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2023 | $12.72 | 0.15 | 0.19 | 0.34 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp; (0.75)<br>|
| Year Ended 7/31/2022 | $16.49 | 0.14 | &nbsp;&nbsp; (2.70)<br>| &nbsp;&nbsp; (2.56)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (1.09)<br>| &nbsp;&nbsp; (1.21)<br>|
| Year Ended 7/31/2021 | $14.66 | 0.06 | 2.46 | 2.52 | &nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.69)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $14.76 | 0.13 <br><sup>(c)</sup><br>| 1.29 | 1.42 | &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (2.02)<br>| &nbsp;&nbsp; (2.42)<br>|
| Year Ended 7/31/2025 | $13.62 | 0.25 <br><sup>(c)</sup><br>| 0.98 | 1.23 | &nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.09)<br>|
| Year Ended 7/31/2024 | $12.45 | 0.24 <br><sup>(c)</sup><br>| 0.93 | 1.17 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Year Ended 7/31/2023 | $12.83 | 0.18 | 0.19 | 0.37 | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp; (0.75)<br>|
| Year Ended 7/31/2022 | $16.60 | 0.17 | &nbsp;&nbsp; (2.71)<br>| &nbsp;&nbsp; (2.54)<br>| &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (1.09)<br>| &nbsp;&nbsp; (1.23)<br>|
| Year Ended 7/31/2021 | $14.75 | 0.10 | 2.47 | 2.57 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp; (0.72)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | Includes income resulting from European Union tax reclaims, net of an IRS closing agreement for European Union tax reclaims, if applicable. The effect of these amounted to: |

---

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

---

| | | |
|:---|:---|:---|
| **Class** | **Net Investment income per share ($)** | **Net Investment income ratio (%)** |
| **Six Months Ended 1/31/2026 (Unaudited)** |  |  |
| Class A | lessthan<br> 0.01<br>| 0.03 |
| Institutional Class | lessthan<br> 0.01<br>| 0.03 |
| **Year Ended 7/31/2025** |  |  |
| Class A | 0.01 | 0.09 |
| Institutional Class | 0.01 | 0.09 |
| **Year Ended 7/31/2024** |  |  |
| Class A | 0.01 | 0.04 |
| Institutional Class | 0.01 | 0.04 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class** | **1/31/2026** | **7/31/2025** | **7/31/2024** | **7/31/2023** | **7/31/2022** | **7/31/2021** |
| Class A | less than 0.01% | less than 0.01% | less than 0.01% | less than 0.01% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% |
| Institutional Class | less than 0.01% | less than 0.01% | less than 0.01% | less than 0.01% | &nbsp;&nbsp; 0.01% | &nbsp;&nbsp; 0.01% |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) Ratios include interfund lending expense which is less than 0.01%.

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

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

Columbia Global Opportunities Fund \| 2026

------

Financial Highlights (continued)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income (loss)** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $13.56 | &nbsp;&nbsp;&nbsp;&nbsp; 10.07%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.15% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.54% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 62% | &nbsp;&nbsp;&nbsp;&nbsp; $308656 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.55 | &nbsp;&nbsp;&nbsp;&nbsp; 8.85%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.18% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp; $302527 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $13.43 | &nbsp;&nbsp;&nbsp;&nbsp; 9.10%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.20% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.19% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.66% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 122% | &nbsp;&nbsp;&nbsp;&nbsp; $319548 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $12.31 | &nbsp;&nbsp;&nbsp;&nbsp; 3.17%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.20% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 1.20% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.24% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $340330 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.72 | &nbsp;&nbsp;&nbsp;&nbsp; (16.59%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 1.15% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp;&nbsp; 98% | &nbsp;&nbsp;&nbsp;&nbsp; $380766 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $16.49 | &nbsp;&nbsp;&nbsp;&nbsp; 17.46%<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.16% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40% | &nbsp;&nbsp;&nbsp;&nbsp; 107% | &nbsp;&nbsp;&nbsp;&nbsp; $511405 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $13.76 | &nbsp;&nbsp;&nbsp;&nbsp; 10.21%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.90% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.79% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 62% | &nbsp;&nbsp;&nbsp;&nbsp; $12438 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $14.76 | &nbsp;&nbsp;&nbsp;&nbsp; 9.12%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.93% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 100% | &nbsp;&nbsp;&nbsp;&nbsp; $11141 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $13.62 | &nbsp;&nbsp;&nbsp;&nbsp; 9.40%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(d)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.94% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.91% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 122% | &nbsp;&nbsp;&nbsp;&nbsp; $10964 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $12.45 | &nbsp;&nbsp;&nbsp;&nbsp; 3.39%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(d),(e)</sup><br>&nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.46% | &nbsp;&nbsp;&nbsp;&nbsp; 115% | &nbsp;&nbsp;&nbsp;&nbsp; $11705 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $12.83 | &nbsp;&nbsp;&nbsp;&nbsp; (16.38%)<br>&nbsp;&nbsp;&nbsp;&nbsp; 0.89% <br><sup>(d),(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16% | &nbsp;&nbsp;&nbsp;&nbsp; 98% | &nbsp;&nbsp;&nbsp;&nbsp; $18151 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $16.60 | &nbsp;&nbsp;&nbsp;&nbsp; 17.75%<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.91% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65% | &nbsp;&nbsp;&nbsp;&nbsp; 107% | &nbsp;&nbsp;&nbsp;&nbsp; $24909 |

---

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

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

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

**Fund shares**

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

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

Note 2. Summary of significant accounting policies

**Basis of preparation**

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

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

**Segment reporting**

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

**Security valuation**

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

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

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

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

Forward foreign currency exchange contracts are marked-to-market based upon foreign currency exchange rates provided by a pricing service.

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.

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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 stands between the buyer and the seller of the contract; therefore, the primary counterparty credit risk is the risk of failure of the clearinghouse. However, credit risk still exists in exchange-traded and centrally cleared derivatives with respect to any collateral that is held in a broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients and such shortfall is remedied by the central counterparty or otherwise, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the clearing broker's customers (including the Fund) by account class, potentially resulting in losses to the Fund.

In connection with certain over-the-counter derivatives, the Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or similar agreement with its derivatives counterparties. An ISDA Master Agreement is an agreement between the Fund and a counterparty that governs over-the-counter derivatives and foreign exchange forward contracts and contains, among other things, collateral posting terms and netting provisions in

Columbia Global Opportunities Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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 portfolio currency risk and to facilitate transactions in securities denominated in foreign currencies in the normal course of pursuing its investment objectives. These contracts are used to protect against a decline in value relative to the U.S. dollar of the currencies in which portfolio securities are denominated or quoted (or an increase in the value of a currency in which securities that a Fund intends to buy are denominated, when a Fund holds cash reserves and short-term investments), or for other investment purposes. 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.

Columbia Global Opportunities Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Futures contracts**

Futures contracts are exchange-traded and represent commitments for the future purchase or sale of an asset at a specified price on a specified date. The Fund bought and sold futures contracts to manage its exposure to the securities markets or to movements in interest rates and currency values. A Fund invests in futures contracts as part of its primary investment strategy and/or to equitize its cash flows. Investments in futures contracts may increase or decrease exposure to a particular market. These instruments may be used for other purposes in future periods. Upon entering into futures contracts, the Fund bears risks that it may not achieve the anticipated benefits of the futures contracts and may realize a loss. Additional risks include counterparty credit risk, the possibility of an illiquid market, and that a change in the value of the contract or option may not correlate with changes in the value of the underlying asset.

Upon entering into a futures contract, the Fund deposits cash or securities with the broker, known as a futures commission merchant (FCM), in an amount sufficient to meet the initial margin requirement. The initial margin deposit must be maintained at an established level over the life of the contract. Cash deposited as initial margin is recorded in the Statement of Assets and Liabilities as margin deposits. Securities deposited as initial margin are designated in the Portfolio of Investments. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily change in the contract value and are recorded as variation margin receivable or payable and are offset in unrealized gains or losses. The Fund generally expects to earn interest income on its margin deposits. The Fund recognizes a realized gain or loss when the contract is closed or expires. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities.

**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 may use options that are written or purchased to enhance returns or to hedge an existing position or future investment. A Fund may write call and put options on securities and financial derivative instruments it owns or in which it may invest. Writing put options tends to increase a Fund's exposure to the underlying instrument. Writing call options tends to decrease a Fund's exposure to the underlying instrument. When a Fund writes a call or put, an amount equal to the premium received is recorded and subsequently marked to market to reflect the current value of the option written. 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.

Columbia Global Opportunities Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**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 marked-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 provides some protection in the case of clearing member default. The central counterparty stands between the buyer and the seller of the swap contract; therefore, failure of the clearinghouse may pose additional counterparty credit risk. However, credit risk still exists in centrally cleared swaps to the extent initial and variation margin is held in an FCM's customer account. While FCM's are required to segregate customer margin from their own assets, in the event that an FCM becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the FCM for all its clients, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all of the FCM's customers (including the Fund) by account class, potentially resulting in losses to the Fund. 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 hedge or manage the risks associated with assets held in the Fund and/or to facilitate the implementation of portfolio strategies to seek to increase the total return. These swaps are entered into to provide a measure of protection against defaults of the issuers (i.e., to reduce risk where a Fund owns or has exposure to the referenced obligation) or to take an active long or short position with respect to the likelihood of a particular issuer's default. 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

Columbia Global Opportunities Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

value of the obligation or cash received and the notional amount paid will be recorded as a realized gain (loss). The maximum 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.

**Total return swap contracts**

The Fund entered into total return swap contracts to obtain exposure to the underlying referenced instruments, obtain leverage or attain the returns from ownership without owning the underlying position. Total return swap agreements involve commitments where single or multiple cash flows are exchanged based on the price of an underlying reference asset and on a fixed or variable interest rate. These instruments may be used for other purposes in future periods. Total return swap contracts may be used to obtain exposure to an underlying reference security, instrument, or other asset or index or market without owning, taking physical custody of, or short selling any such security, instrument or asset in a market.

Total return 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 the Fund will realize a gain (loss). Periodic payments received (or made) by the Fund over the term of the contract are recorded as realized gains (losses). Total return swap contracts are subject to the risk associated with the investment in the underlying reference security, instrument or asset. This risk may be offset if the Fund holds any of the underlying reference security, instrument or asset. Total return swap contracts are subject to the risk that the counterparty may not fulfill its obligations under the contract. This risk is offset by the daily exchange of variation margin with the swap counterparty.

**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.

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Asset derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Credit risk | Component of total distributable earnings (loss) — unrealized appreciation on swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; 74,231<br> \*<br>|
| Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 528,988<br> \*<br>|
| Equity risk | Investments, at value — Option contracts purchased | &nbsp;&nbsp;&nbsp;&nbsp; 20464 |
| Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; 50,559<br> \*<br>|
| Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; 367881 |
| Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 99,273<br> \*<br>|
| Total |  | &nbsp;&nbsp;&nbsp;&nbsp; 1141396 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Liability derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 897,006<br> \*<br>|
| Equity risk | Option contracts written, at value | &nbsp;&nbsp;&nbsp;&nbsp; 15492 |
| Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; 16,365<br> \*<br>|
| Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; 283925 |
| Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 321,473<br> \*<br>|
| Total |  | &nbsp;&nbsp;&nbsp;&nbsp; 1534261 |

---

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

\* Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day's variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities.

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the six months ended January 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** | **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; 243913 | &nbsp;&nbsp;&nbsp;&nbsp; 243913 |
| Equity risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1458144 | &nbsp;&nbsp;&nbsp;&nbsp; 15950 | &nbsp;&nbsp;&nbsp;&nbsp; 27668 | &nbsp;&nbsp;&nbsp;&nbsp; 655949 | &nbsp;&nbsp;&nbsp;&nbsp; 2157711 |
| Foreign exchange risk | &nbsp;&nbsp; (963443)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (963443)<br>|
| Interest rate risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 529778 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 529778 |
| Total | &nbsp;&nbsp; (963443)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1987922 | &nbsp;&nbsp;&nbsp;&nbsp; 15950 | &nbsp;&nbsp;&nbsp;&nbsp; 27668 | &nbsp;&nbsp;&nbsp;&nbsp; 899862 | &nbsp;&nbsp;&nbsp;&nbsp; 1967959 |
| **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; (50571)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (50571)<br>|
| Equity risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (247028)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 817 | &nbsp;&nbsp;&nbsp;&nbsp; 12166 | &nbsp;&nbsp;&nbsp;&nbsp; 22666 | &nbsp;&nbsp;&nbsp;&nbsp; (211379)<br>|
| Foreign exchange risk | &nbsp;&nbsp; 742442 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 742442 |
| Interest rate risk | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (504267)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (504267)<br>|
| Total | &nbsp;&nbsp; 742442 | &nbsp;&nbsp;&nbsp;&nbsp; (751295)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 817 | &nbsp;&nbsp;&nbsp;&nbsp; 12166 | &nbsp;&nbsp;&nbsp;&nbsp; (27905)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (23775)<br>|

---

Columbia Global Opportunities Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The following table is a summary of the average daily outstanding volume by derivative instrument for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 88310879 |
| Futures contracts — short | 20816405 |
| Credit default swap contracts — sell protection | 23857343 |

---

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

---

| | |
|:---|:---|
| **Derivative instrument** | **Average** <br>**value ($)**<br>|
| Option contracts purchased | 6044 |
| Option contracts written | (10345)<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Derivative instrument** | **Average unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Average unrealized** <br>**depreciation ($)**<br>|
| Forward foreign currency exchange contracts | &nbsp;&nbsp; 700046 | &nbsp;&nbsp;&nbsp;&nbsp; (792098)<br>|
| Total return swap contracts | &nbsp;&nbsp; 81751 | &nbsp;&nbsp;&nbsp;&nbsp; (5186)<br>|

---

**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.

**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.

**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

Columbia Global Opportunities Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

**Treasury inflation protected securities** 

The Fund may invest in treasury inflation protected securities (TIPS). The principal amount of TIPS is adjusted periodically and is increased for inflation or decreased for deflation based on a monthly published index. These adjustments are recorded as interest income in the Statement of Operations. Coupon payments are based on the adjusted principal at the time the interest is paid.

**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 with counterparties as well as any related collateral received or pledged by the Fund as of January 31, 2026:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Barclays** | **Citi** | **Goldman** <br>**Sachs** <br>**International** <br>| **HSBC** | **JPMorgan** | **Morgan** <br>**Stanley** <sup>(a)</sup> <br>| **Morgan** <br>**Stanley** <sup>(a)</sup> <br>| **Morgan** <br>**Stanley** <sup>(a)</sup> <br>| **State** <br>**Street**<br>| **UBS** | **Wells** <br>**Fargo** <br>| **Total** |
| **Assets** |  |  |  |  |  |  |  |  |  |  |  |  |
| Forward foreign currency exchange <br> contracts<br>| $58393<br>| -<br>| 4740<br>| 87407<br>| 30907<br>| 150820<br>| -<br>| -<br>| 20036<br>| 15578<br>| -<br>| 367881<br>|
| Call option contracts purchased | -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| 20464<br>| -<br>| -<br>| -<br>| 20464<br>|
| OTC total return swap contracts <sup>(b)</sup> <br>| -<br>| -<br>| 50559<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| 50559<br>|
| Total assets | 58393<br>| -<br>| 55299<br>| 87407<br>| 30907<br>| 150820<br>| -<br>| 20464<br>| 20036<br>| 15578<br>| -<br>| 438904<br>|
| **Liabilities** |  |  |  |  |  |  |  |  |  |  |  |  |
| Centrally cleared credit default swap <br> contracts <sup>(c)</sup> <br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| 3241<br>| -<br>| -<br>| -<br>| -<br>| 3241<br>|
| Forward foreign currency exchange <br> contracts<br>| 35918<br>| 143609<br>| 1829<br>| 26134<br>| 44651<br>| 19763<br>| -<br>| -<br>| 10673<br>| -<br>| 1348<br>| 283925<br>|
| Call option contracts written | -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| 15492<br>| -<br>| -<br>| -<br>| 15492<br>|
| OTC total return swap contracts <sup>(b)</sup> <br>| -<br>| -<br>| 16365<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| 16365<br>|
| Total liabilities | 35918<br>| 143609<br>| 18194<br>| 26134<br>| 44651<br>| 19763<br>| 3241<br>| 15492<br>| 10673<br>| -<br>| 1348<br>| 319023<br>|
| **Total financial and derivative net** <br> **assets**<br>| **22475**<br>| **(143609)**<br>| **37105**<br>| **61273**<br>| **(13744)**<br>| **131057**<br>| **(3241)**<br>| **4972**<br>| **9363**<br>| **15578**<br>| **(1348)**<br>| **119881**<br>|
| Total collateral received (pledged) <br> <sup>(d)</sup> <br>| -<br>| -<br>| -<br>| -<br>| -<br>| -<br>| (3241)<br>| -<br>| -<br>| -<br>| -<br>| (3241)<br>|
| **Net amount** <sup>(e)</sup> <br>| $**22475**<br>| **(143609)**<br>| **37105**<br>| **61273**<br>| **(13744)**<br>| **131057**<br>| **-**<br>| **4972**<br>| **9363**<br>| **15578**<br>| **(1348)**<br>| **123122**<br>|

---

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

&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.

Columbia Global Opportunities Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted. The Fund classifies gains and losses realized on prepayments received on mortgage-backed securities as adjustments to interest income.

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

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

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

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

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

**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.

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

The Fund may file withholding tax reclaims in certain European Union countries to recover a portion of foreign taxes previously withheld on dividends earned, which may be reclaimable based upon certain provisions in the Treaty on the Functioning of the European Union (EU) and subsequent rulings by the European Court of Justice. The Fund may record a reclaim receivable when the amount is known, the Fund has received notice of a pending refund, and there are no significant uncertainties on collectability. Income received from EU reclaims is included in the Statement of Operations.

**Distributions to shareholders**

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

**Guarantees and indemnifications**

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

Note 3. Fees and other transactions with affiliates

**Management services fees and underlying fund fees** 

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is a blend of (i) 0.00% on assets invested in Columbia proprietary funds, including exchange-traded funds, that pay an investment management fee to the Investment Manager, and (ii) a fee that declines from 0.72% to 0.52%, depending on asset levels, on assets invested in securities, instruments and other assets not described above, including other funds advised by the Investment Manager that do not pay a management services fee, derivatives and individual securities. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.68% of the Fund's average daily net assets.

In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of the Underlying Funds in which the Fund invests. Because the Underlying Funds have varied expense and fee levels and the Fund may own different proportions of Underlying Funds at different times, the amount of fees and expenses incurred indirectly by the Fund will vary. These expenses are not reflected in the expenses shown in the Statement of Operations and are not included in the ratios to average net assets shown in the Financial Highlights.

**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.

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Compensation of Chief Compliance Officer**

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

**Transfer agency fees**

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

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

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees.

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

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.09 |
| Institutional Class | 0.09 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, no minimum account balance fees were charged by the Fund.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rate of up to 0.25% of the Fund's average daily net assets attributable to Class A shares.

**Sales charges** 

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

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 5.75<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 18388 |

---

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

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

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

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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

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

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee rate(s) contractual** <br>**through** <br>**November 30, 2026 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.94 |

---

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

Note 4. Federal tax information

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 279498000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55844000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7104000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48740000 |

---

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

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

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $163,258,489 and $186,730,214, respectively, for the six months ended January 31, 2026, of which $85,486,810 and $81,751,301, respectively, were U.S. government securities. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 6. Affiliated money market fund

The Fund invests significantly 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 six months ended January 31, 2026 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 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4.66 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |

---

Interest income earned by the Fund is recorded as Interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at January 31, 2026.

Note 8. Line of credit

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

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

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 9. Risks and uncertainties

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

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

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

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

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 86.7% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 10. Subsequent events

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

Note 11. Information regarding pending and settled legal proceedings

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

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss that may result from such matters. An adverse outcome in one or more of these proceedings could result in adverse

Columbia Global Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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 Global Opportunities Fund \| 2026

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**Columbia Global Opportunities Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img38ab476c2.jpg)

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

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

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

columbiathreadneedleus.com/investor/

SAR156_07_T01_(03/26)

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![](g80035img0d9fc0231.jpg)

Columbia Government Money Market Fund

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

January 31, 2026 (Unaudited)

---

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

---

------

**Table of Contents**

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

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_6938c78c-6d53-4206-b778-23038f7d700a_POI-CommonContent-Date-109_1) | 3 |
| [Statement of Assets and Liabilities](#xx_6938c78c-6d53-4206-b778-23038f7d700a_FS-CommonContent-Date-109_1) | 6 |
| [Statement of Operations](#xx_6938c78c-6d53-4206-b778-23038f7d700a_FS-CommonContent-Date-109_2) | 7 |
| [Statement of Changes in Net Assets](#xx_6938c78c-6d53-4206-b778-23038f7d700a_FS-CommonContent-Date-109_3) | 8 |
| [Financial Highlights](#xx_6938c78c-6d53-4206-b778-23038f7d700a_FIHI-CommonContent-Date-109_1) | 10 |
| [Notes to Financial Statements](#xx_6938c78c-6d53-4206-b778-23038f7d700a_NTF-CommonContent-Date-109_1) | 12 |

---

Columbia Government Money Market Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Repurchase Agreements 18.2%** | **Repurchase Agreements 18.2%** | **Repurchase Agreements 18.2%** | **Repurchase Agreements 18.2%** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Tri-party RBC Dominion Securities | Tri-party RBC Dominion Securities | Tri-party RBC Dominion Securities | Tri-party RBC Dominion Securities |
| dated 01/30/2026, matures 02/02/2026, | dated 01/30/2026, matures 02/02/2026, | dated 01/30/2026, matures 02/02/2026, | dated 01/30/2026, matures 02/02/2026, |
| repurchase price $200,060,833 <br>(collateralized by U.S. Treasury Securities maturing 04/30/26 - 08/15/52 at rates <br> of 0.000% - 4.625%,Total Market Value $204,000,000) | repurchase price $200,060,833 <br>(collateralized by U.S. Treasury Securities maturing 04/30/26 - 08/15/52 at rates <br> of 0.000% - 4.625%,Total Market Value $204,000,000) | repurchase price $200,060,833 <br>(collateralized by U.S. Treasury Securities maturing 04/30/26 - 08/15/52 at rates <br> of 0.000% - 4.625%,Total Market Value $204,000,000) | repurchase price $200,060,833 <br>(collateralized by U.S. Treasury Securities maturing 04/30/26 - 08/15/52 at rates <br> of 0.000% - 4.625%,Total Market Value $204,000,000) |
|  | &nbsp;&nbsp; 3.650% | 200000000 | &nbsp;&nbsp; 200000000 |
| Tri-party TD Securities | Tri-party TD Securities | Tri-party TD Securities | Tri-party TD Securities |
| dated 01/30/2026, matures 02/02/2026, | dated 01/30/2026, matures 02/02/2026, | dated 01/30/2026, matures 02/02/2026, | dated 01/30/2026, matures 02/02/2026, |
| repurchase price $300,091,500 <br>(collateralized by U.S. Treasury Securities maturing 10/31/28 - 06/30/30 at rates <br> of 1.375% - 3.875%, Total Market Value $306,000,031) | repurchase price $300,091,500 <br>(collateralized by U.S. Treasury Securities maturing 10/31/28 - 06/30/30 at rates <br> of 1.375% - 3.875%, Total Market Value $306,000,031) | repurchase price $300,091,500 <br>(collateralized by U.S. Treasury Securities maturing 10/31/28 - 06/30/30 at rates <br> of 1.375% - 3.875%, Total Market Value $306,000,031) | repurchase price $300,091,500 <br>(collateralized by U.S. Treasury Securities maturing 10/31/28 - 06/30/30 at rates <br> of 1.375% - 3.875%, Total Market Value $306,000,031) |
|  | &nbsp;&nbsp; 3.660% | 300000000 | &nbsp;&nbsp; 300000000 |
| Total Repurchase Agreements <br>(Cost $500,000,000) | Total Repurchase Agreements <br>(Cost $500,000,000) | Total Repurchase Agreements <br>(Cost $500,000,000) | &nbsp;&nbsp; **500000000** |
| **Treasury Bills 5.3%** | **Treasury Bills 5.3%** | **Treasury Bills 5.3%** | **Treasury Bills 5.3%** |
| **United States 5.3%** | **United States 5.3%** | **United States 5.3%** | **United States 5.3%** |
| U.S Treasury Bills | U.S Treasury Bills | U.S Treasury Bills | U.S Treasury Bills |
| 04/16/2026 | &nbsp;&nbsp; 3.720% | 25000000 | &nbsp;&nbsp; 24808073 |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills |
| 02/03/2026 | &nbsp;&nbsp; 2.720% | 20000000 | &nbsp;&nbsp; 19994033 |
| 02/24/2026 | &nbsp;&nbsp; 3.490% | 10000000 | &nbsp;&nbsp; 9976183 |
| 03/10/2026 | &nbsp;&nbsp; 3.570% | 20000000 | &nbsp;&nbsp; 19924100 |
| 03/24/2026 | &nbsp;&nbsp; 3.600% | 10000000 | &nbsp;&nbsp; 9947928 |
| 07/02/2026 | &nbsp;&nbsp; 3.570% | 31500000 | &nbsp;&nbsp; 31035804 |
| 07/09/2026 | &nbsp;&nbsp; 3.560% | 31500000 | &nbsp;&nbsp; 31016541 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **146702662** |
| Total Treasury Bills <br>(Cost $146,702,662) | Total Treasury Bills <br>(Cost $146,702,662) | Total Treasury Bills <br>(Cost $146,702,662) | &nbsp;&nbsp; **146702662** |
| **U.S. Government & Agency Obligations 72.3%** | **U.S. Government & Agency Obligations 72.3%** | **U.S. Government & Agency Obligations 72.3%** | **U.S. Government & Agency Obligations 72.3%** |
| Fannie Mae Discount Notes | Fannie Mae Discount Notes | Fannie Mae Discount Notes | Fannie Mae Discount Notes |
| 02/06/2026 | &nbsp;&nbsp; 3.120% | 15000000 | &nbsp;&nbsp; 14991037 |
| 02/11/2026 | &nbsp;&nbsp; 3.310% | 10000000 | &nbsp;&nbsp; 9989137 |
| 02/13/2026 | &nbsp;&nbsp; 3.360% | 10000000 | &nbsp;&nbsp; 9987126 |
| 03/13/2026 | &nbsp;&nbsp; 3.530% | 35000000 | &nbsp;&nbsp; 34858493 |
| 05/08/2026 | &nbsp;&nbsp; 3.620% | 19913000 | &nbsp;&nbsp; 19721185 |
| Federal Agricultural Mortgage Corp.<sup>(a)</sup>  | Federal Agricultural Mortgage Corp.<sup>(a)</sup>  | Federal Agricultural Mortgage Corp.<sup>(a)</sup>  | Federal Agricultural Mortgage Corp.<sup>(a)</sup>  |
| SOFR + 0.045% <br> 07/24/2026<br>| &nbsp;&nbsp; 3.710% | 10000000 | &nbsp;&nbsp; 10000000 |
| SOFR + 0.100% <br> 09/18/2026<br>| &nbsp;&nbsp; 3.760% | 7500000 | &nbsp;&nbsp; 7500000 |
| SOFR + 0.140% <br> 01/06/2027<br>| &nbsp;&nbsp; 3.800% | 100000000 | &nbsp;&nbsp; 100000000 |
| SOFR + 0.100% <br> 03/04/2027<br>| &nbsp;&nbsp; 3.760% | 10000000 | &nbsp;&nbsp; 10000000 |
| SOFR + 0.130% <br> 04/23/2027<br>| &nbsp;&nbsp; 3.790% | 15000000 | &nbsp;&nbsp; 15000000 |

---

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| SOFR + 0.120% <br> 05/12/2027<br>| &nbsp;&nbsp; 3.810% | 15000000 | &nbsp;&nbsp; 15000000 |
| SOFR + 0.150% <br> 07/14/2027<br>| &nbsp;&nbsp; 3.810% | 15000000 | &nbsp;&nbsp; 15000000 |
| SOFR + 0.160% <br> 08/13/2027<br>| &nbsp;&nbsp; 3.850% | 15000000 | &nbsp;&nbsp; 15000000 |
| SOFR + 0.160% <br> 08/18/2027<br>| &nbsp;&nbsp; 3.850% | 7000000 | &nbsp;&nbsp; 7000000 |
| SOFR + 0.160% <br> 09/03/2027<br>| &nbsp;&nbsp; 3.840% | 25000000 | &nbsp;&nbsp; 25000000 |
| SOFR + 0.150% <br> 12/08/2027<br>| &nbsp;&nbsp; 3.810% | 20000000 | &nbsp;&nbsp; 20000000 |
| SOFR + 0.160% <br> 12/21/2027<br>| &nbsp;&nbsp; 3.830% | 10000000 | &nbsp;&nbsp; 10000000 |
| Federal Agricultural Mortgage Corp. | Federal Agricultural Mortgage Corp. | Federal Agricultural Mortgage Corp. | Federal Agricultural Mortgage Corp. |
| 08/10/2026 | &nbsp;&nbsp; 3.840% | 25000000 | &nbsp;&nbsp; 25000000 |
| 11/13/2026 | &nbsp;&nbsp; 3.690% | 3500000 | &nbsp;&nbsp; 3500000 |
| Federal Agricultural Mortgage Corp. Discount Notes | Federal Agricultural Mortgage Corp. Discount Notes | Federal Agricultural Mortgage Corp. Discount Notes | Federal Agricultural Mortgage Corp. Discount Notes |
| 04/27/2026 | &nbsp;&nbsp; 3.590% | 10000000 | &nbsp;&nbsp; 9915194 |
| Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. |
| 05/20/2026 | &nbsp;&nbsp; 3.810% | 10000000 | &nbsp;&nbsp; 9999097 |
| 09/02/2026 | &nbsp;&nbsp; 4.020% | 20000000 | &nbsp;&nbsp; 20000000 |
| Federal Farm Credit Discount Notes | Federal Farm Credit Discount Notes | Federal Farm Credit Discount Notes | Federal Farm Credit Discount Notes |
| 02/02/2026 | &nbsp;&nbsp; 2.390% | 123500000 | &nbsp;&nbsp; 123475780 |
| 02/04/2026 | &nbsp;&nbsp; 2.930% | 35000000 | &nbsp;&nbsp; 34985956 |
| 02/10/2026 | &nbsp;&nbsp; 3.570% | 10000000 | &nbsp;&nbsp; 9990083 |
| 02/20/2026 | &nbsp;&nbsp; 3.580% | 32000000 | &nbsp;&nbsp; 31936411 |
| 02/24/2026 | &nbsp;&nbsp; 3.510% | 25000000 | &nbsp;&nbsp; 24940000 |
| 03/03/2026 | &nbsp;&nbsp; 3.570% | 15000000 | &nbsp;&nbsp; 14953242 |
| 03/04/2026 | &nbsp;&nbsp; 3.520% | 5000000 | &nbsp;&nbsp; 4984133 |
| 03/06/2026 | &nbsp;&nbsp; 3.410% | 17900000 | &nbsp;&nbsp; 17839199 |
| 03/23/2026 | &nbsp;&nbsp; 3.590% | 5000000 | &nbsp;&nbsp; 4974571 |
| 03/24/2026 | &nbsp;&nbsp; 3.570% | 20000000 | &nbsp;&nbsp; 19896867 |
| 03/30/2026 | &nbsp;&nbsp; 3.550% | 5000000 | &nbsp;&nbsp; 4971483 |
| 03/31/2026 | &nbsp;&nbsp; 3.570% | 5000000 | &nbsp;&nbsp; 4970828 |
| 04/27/2026 | &nbsp;&nbsp; 3.640% | 10000000 | &nbsp;&nbsp; 9914000 |
| 06/10/2026 | &nbsp;&nbsp; 3.590% | 10000000 | &nbsp;&nbsp; 9872889 |
| Federal Home Loan Bank Discount Notes | Federal Home Loan Bank Discount Notes | Federal Home Loan Bank Discount Notes | Federal Home Loan Bank Discount Notes |
| 02/19/2026 | &nbsp;&nbsp; 3.500% | 40000000 | &nbsp;&nbsp; 39923367 |
| 02/25/2026 | &nbsp;&nbsp; 3.560% | 25000000 | &nbsp;&nbsp; 24936823 |
| 03/04/2026 | &nbsp;&nbsp; 3.540% | 5000000 | &nbsp;&nbsp; 4984067 |
| 03/11/2026 | &nbsp;&nbsp; 3.600% | 45000000 | &nbsp;&nbsp; 44823070 |
| 03/17/2026 | &nbsp;&nbsp; 3.560% | 40000000 | &nbsp;&nbsp; 39821500 |
| 03/30/2026 | &nbsp;&nbsp; 3.600% | 25000000 | &nbsp;&nbsp; 24855403 |
| 04/17/2026 | &nbsp;&nbsp; 3.600% | 5000000 | &nbsp;&nbsp; 4962264 |
| 06/10/2026 | &nbsp;&nbsp; 3.600% | 10000000 | &nbsp;&nbsp; 9872528 |
| 09/01/2026 | &nbsp;&nbsp; 3.620% | 10000000 | &nbsp;&nbsp; 9792029 |

---

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

Columbia Government Money Market Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Federal Home Loan Banks<sup>(a)</sup>  | Federal Home Loan Banks<sup>(a)</sup>  | Federal Home Loan Banks<sup>(a)</sup>  | Federal Home Loan Banks<sup>(a)</sup>  |
| SOFR + 0.005% <br> 02/23/2026<br>| &nbsp;&nbsp; 3.690% | 30000000 | &nbsp;&nbsp; 30000000 |
| SOFR + 0.020% <br> 05/22/2026<br>| &nbsp;&nbsp; 3.710% | 10000000 | &nbsp;&nbsp; 10000000 |
| SOFR + 0.105% <br> 03/09/2027<br>| &nbsp;&nbsp; 3.760% | 10000000 | &nbsp;&nbsp; 10000000 |
| SOFR + 0.105% <br> 03/10/2027<br>| &nbsp;&nbsp; 3.760% | 15000000 | &nbsp;&nbsp; 15000000 |
| SOFR + 0.170% <br> 09/24/2027<br>| &nbsp;&nbsp; 3.840% | 13000000 | &nbsp;&nbsp; 13000000 |
| SOFR + 0.180% <br> 10/07/2027<br>| &nbsp;&nbsp; 3.850% | 35000000 | &nbsp;&nbsp; 35000000 |
| SOFR + 0.175% <br> 10/21/2027<br>| &nbsp;&nbsp; 3.840% | 10000000 | &nbsp;&nbsp; 10000000 |
| Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks | Federal Home Loan Banks |
| 11/04/2026 | &nbsp;&nbsp; 3.900% | 25000000 | &nbsp;&nbsp; 25000000 |
| Federal Home Loan Banks Discount Notes | Federal Home Loan Banks Discount Notes | Federal Home Loan Banks Discount Notes | Federal Home Loan Banks Discount Notes |
| 06/04/2018 | &nbsp;&nbsp; 3.640% | 10000000 | &nbsp;&nbsp; 9876861 |
| 02/02/2026 | &nbsp;&nbsp; 2.580% | 25000000 | &nbsp;&nbsp; 24994694 |
| 02/03/2026 | &nbsp;&nbsp; 2.760% | 50000000 | &nbsp;&nbsp; 49984883 |
| 02/04/2026 | &nbsp;&nbsp; 2.950% | 40000000 | &nbsp;&nbsp; 39983867 |
| 02/05/2026 | &nbsp;&nbsp; 3.070% | 50000000 | &nbsp;&nbsp; 49974792 |
| 02/06/2026 | &nbsp;&nbsp; 3.090% | 5000000 | &nbsp;&nbsp; 4997038 |
| 02/10/2026 | &nbsp;&nbsp; 3.300% | 40000000 | &nbsp;&nbsp; 39960278 |
| 02/17/2026 | &nbsp;&nbsp; 3.420% | 10000000 | &nbsp;&nbsp; 9983142 |
| 02/18/2026 | &nbsp;&nbsp; 3.470% | 36700000 | &nbsp;&nbsp; 36633782 |
| 02/24/2026 | &nbsp;&nbsp; 3.450% | 5000000 | &nbsp;&nbsp; 4988200 |
| 02/27/2026 | &nbsp;&nbsp; 3.520% | 30000000 | &nbsp;&nbsp; 29919225 |
| 03/02/2026 | &nbsp;&nbsp; 3.520% | 5000000 | &nbsp;&nbsp; 4985083 |
| 03/03/2026 | &nbsp;&nbsp; 3.550% | 15000000 | &nbsp;&nbsp; 14953500 |
| 03/06/2026 | &nbsp;&nbsp; 3.510% | 29000000 | &nbsp;&nbsp; 28902632 |
| 03/09/2026 | &nbsp;&nbsp; 3.580% | 10000000 | &nbsp;&nbsp; 9962846 |
| 03/16/2026 | &nbsp;&nbsp; 3.530% | 5000000 | &nbsp;&nbsp; 4978306 |
| 03/18/2026 | &nbsp;&nbsp; 3.600% | 7000000 | &nbsp;&nbsp; 6967719 |
| 03/19/2026 | &nbsp;&nbsp; 3.840% | 30000000 | &nbsp;&nbsp; 29849404 |
| 03/20/2026 | &nbsp;&nbsp; 3.610% | 57100000 | &nbsp;&nbsp; 56824769 |
| 03/25/2026 | &nbsp;&nbsp; 3.630% | 10000000 | &nbsp;&nbsp; 9946647 |
| 03/27/2026 | &nbsp;&nbsp; 3.630% | 25000000 | &nbsp;&nbsp; 24861354 |
| 04/01/2026 | &nbsp;&nbsp; 3.700% | 50000000 | &nbsp;&nbsp; 49692500 |
| 04/13/2026 | &nbsp;&nbsp; 3.600% | 5000000 | &nbsp;&nbsp; 4964300 |
| 04/21/2026 | &nbsp;&nbsp; 3.620% | 20000000 | &nbsp;&nbsp; 19840444 |
| 04/22/2026 | &nbsp;&nbsp; 3.640% | 7000000 | &nbsp;&nbsp; 6943237 |
| 04/24/2026 | &nbsp;&nbsp; 3.640% | 10000000 | &nbsp;&nbsp; 9916862 |
| 05/06/2026 | &nbsp;&nbsp; 3.580% | 5000000 | &nbsp;&nbsp; 4953424 |
| 05/15/2026 | &nbsp;&nbsp; 3.590% | 15000000 | &nbsp;&nbsp; 14846600 |
| 05/20/2026 | &nbsp;&nbsp; 3.640% | 10000000 | &nbsp;&nbsp; 9891606 |

---

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| 06/05/2026 | &nbsp;&nbsp; 3.600% | 25000000 | &nbsp;&nbsp; 24693142 |
| 06/11/2026 | &nbsp;&nbsp; 3.620% | 15000000 | &nbsp;&nbsp; 14806229 |
| 06/12/2026 | &nbsp;&nbsp; 3.710% | 5000000 | &nbsp;&nbsp; 4933267 |
| 06/25/2026 | &nbsp;&nbsp; 3.610% | 7500000 | &nbsp;&nbsp; 7393214 |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| 12/14/2026 | &nbsp;&nbsp; 3.780% | 30000000 | &nbsp;&nbsp; 29990972 |
| Federal Home Loan Mortgage Corp. Discount Notes | Federal Home Loan Mortgage Corp. Discount Notes | Federal Home Loan Mortgage Corp. Discount Notes | Federal Home Loan Mortgage Corp. Discount Notes |
| 03/12/2026 | &nbsp;&nbsp; 3.820% | 35000000 | &nbsp;&nbsp; 34992841 |
| Federal National Mortgage Association<sup>(a)</sup>  | Federal National Mortgage Association<sup>(a)</sup>  | Federal National Mortgage Association<sup>(a)</sup>  | Federal National Mortgage Association<sup>(a)</sup>  |
| SOFR + 0.135% <br> 08/21/2026<br>| &nbsp;&nbsp; 3.800% | 50000000 | &nbsp;&nbsp; 50000000 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| 02/23/2027 | &nbsp;&nbsp; 3.580% | 25000000 | &nbsp;&nbsp; 24979179 |
| Federal National Mortgage Association Discount Notes | Federal National Mortgage Association Discount Notes | Federal National Mortgage Association Discount Notes | Federal National Mortgage Association Discount Notes |
| 02/09/2026 | &nbsp;&nbsp; 3.270% | 22000000 | &nbsp;&nbsp; 21980310 |
| 03/02/2026 | &nbsp;&nbsp; 3.490% | 10000000 | &nbsp;&nbsp; 9970458 |
| Freddie Mac Discount Notes | Freddie Mac Discount Notes | Freddie Mac Discount Notes | Freddie Mac Discount Notes |
| 02/06/2026 | &nbsp;&nbsp; 3.150% | 35000000 | &nbsp;&nbsp; 34978883 |
| 02/09/2026 | &nbsp;&nbsp; 3.270% | 10000000 | &nbsp;&nbsp; 9991050 |
| 03/09/2026 | &nbsp;&nbsp; 3.580% | 10000000 | &nbsp;&nbsp; 9962846 |
| 04/20/2026 | &nbsp;&nbsp; 3.620% | 20000000 | &nbsp;&nbsp; 19842439 |
| Total U.S. Government & Agency Obligations <br>(Cost $1,990,230,587) | Total U.S. Government & Agency Obligations <br>(Cost $1,990,230,587) | Total U.S. Government & Agency Obligations <br>(Cost $1,990,230,587) | &nbsp;&nbsp; **1990230587** |
| **U.S. Treasury Obligations 2.1%** | **U.S. Treasury Obligations 2.1%** | **U.S. Treasury Obligations 2.1%** | **U.S. Treasury Obligations 2.1%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| U.S. Treasury<sup>(a)</sup>  | U.S. Treasury<sup>(a)</sup>  | U.S. Treasury<sup>(a)</sup>  | U.S. Treasury<sup>(a)</sup>  |
| 3-month U.S. Treasury Index + <br> 0.245% <br>01/31/2026<br>| &nbsp;&nbsp; 3.858% | 34250000 | &nbsp;&nbsp; 34250000 |
| 3-month U.S. Treasury Index + <br> 0.182% <br>07/31/2026<br>| &nbsp;&nbsp; 3.795% | 25000000 | &nbsp;&nbsp; 24995301 |
| Total U.S. Treasury Obligations <br>(Cost $59,245,301) | Total U.S. Treasury Obligations <br>(Cost $59,245,301) | Total U.S. Treasury Obligations <br>(Cost $59,245,301) | &nbsp;&nbsp; **59245301** |

---

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

---

| | |
|:---|:---|
| **Total Investments in Securities** <br>**(Cost: $2,696,178,550)** | &nbsp;&nbsp; **2696178550** |
| **Other Assets & Liabilities, Net** | &nbsp;&nbsp; **56841206** |
| **Net Assets** | &nbsp;&nbsp; **2753019756** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Variable rate security. The interest rate shown was the current rate as of January 31, 2026.

**Abbreviation Legend** 

SOFR Secured Overnight Financing Rate

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

Columbia Government Money Market Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements** 

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

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

■

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

■

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

■

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

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

Short-term securities are valued using amortized cost, as permitted under Rule 2a-7 of the Investment Company Act of 1940, as amended. Generally, amortized cost approximates the current fair value of these securities, but because the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Repurchase Agreements |  | &nbsp;&nbsp;&nbsp;&nbsp; 500000000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 500000000 |
| Treasury Bills |  | &nbsp;&nbsp;&nbsp;&nbsp; 146702662 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 146702662 |
| U.S. Government & Agency Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 1990230587 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1990230587 |
| U.S. Treasury Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 59245301 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 59245301 |
| Total Investments in Securities |  | &nbsp;&nbsp;&nbsp;&nbsp; 2696178550 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2696178550 |

---

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 represent certain short-term obligations which are valued using amortized cost, an income approach which converts future cash flows to a present value based upon the discount or premium at purchase.

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

Columbia Government Money Market Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $2,196,178,550) | $2196178550 |
| Repurchase agreements (cost $500,000,000) | 500000000 |
| Cash | 53533592 |
| Receivable for: |  |
| Capital shares sold | 15266204 |
| Interest | 4616491 |
| Prepaid expenses | 6474 |
| Other assets | 14652 |
| Total assets | 2769615963 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 8169157 |
| Distributions to shareholders | 7953278 |
| Management services fees | 19377 |
| Transfer agent fees | 87439 |
| Compensation of chief compliance officer | 226 |
| Compensation of board members | 2131 |
| Other expenses | 51308 |
| Deferred compensation of board members | 313291 |
| Total liabilities | 16596207 |
| **Net assets applicable to outstanding capital stock** | **$2753019756** |
| **Represented by** |  |
| Paid in capital | 2753710544 |
| Total distributable earnings (loss) | (690788)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$2753019756** |
| **Class A** |  |
| Net assets | $1068748704 |
| Shares outstanding | 1068882247 |
| Net asset value per share | $1.00 |
| **Institutional Class** |  |
| Net assets | $726667819 |
| Shares outstanding | 726808156 |
| Net asset value per share | $1.00 |
| **Institutional 2 Class** |  |
| Net assets | $665414180 |
| Shares outstanding | 665537626 |
| Net asset value per share | $1.00 |
| **Institutional 3 Class** |  |
| Net assets | $292189053 |
| Shares outstanding | 292242316 |
| Net asset value per share | $1.00 |

---

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

Columbia Government Money Market Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

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

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $3545 |
| Interest | 56384476 |
| Total income | 56388021 |
| Expenses: |  |
| Management services fees | 3568994 |
| Transfer agent fees |  |
| Class A | 268984 |
| Institutional Class | 190266 |
| Institutional 2 Class | 178575 |
| Institutional 3 Class | 7399 |
| Custodian fees | 8540 |
| Printing and postage fees | 135530 |
| Registration fees | 98728 |
| Accounting services fees | 16256 |
| Legal fees | 29537 |
| Compensation of chief compliance officer | 227 |
| Compensation of board members | 20148 |
| Deferred compensation of board members | 41029 |
| Other | 20065 |
| Total expenses | 4584278 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (144664)<br>|
| Expense reduction | (1846)<br>|
| Total net expenses | 4437768 |
| **Net investment income** | 51950253 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 30414 |
| Net realized gain | 30414 |
| Net realized and unrealized gain | 30414 |
| **Net increase in net assets resulting from operations** | **$51980667** |

---

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

Columbia Government Money Market Fund \| 2026

------

Statement of Changes in Net Assets

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

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $51950253 | &nbsp;&nbsp; $111008190 |
| Net realized gain | 30414 | &nbsp;&nbsp; 25127 |
| Net increase in net assets resulting from operations | 51980667 | &nbsp;&nbsp; 111033317 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (19982551)<br>| &nbsp;&nbsp; (44644021)<br>|
| Institutional Class | (14168560)<br>| &nbsp;&nbsp; (29040537)<br>|
| Institutional 2 Class | (12746480)<br>| &nbsp;&nbsp; (27422001)<br>|
| Institutional 3 Class | (5307884)<br>| &nbsp;&nbsp; (10051668)<br>|
| Total distributions to shareholders | (52205475)<br>| &nbsp;&nbsp; (111158227)<br>|
| Increase (decrease) in net assets from capital stock activity | (9689778)<br>| &nbsp;&nbsp; 685435568 |
| Total increase (decrease) in net assets | (9914586)<br>| &nbsp;&nbsp; 685310658 |
| Net assets at beginning of period | 2762934342 | &nbsp;&nbsp; 2077623684 |
| **Net assets at end of period** | **$2753019756** | &nbsp;&nbsp; **$2762934342** |

---

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

Columbia Government Money Market Fund \| 2026

------

Statement of Changes in Net Assets (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 453108677 | &nbsp;&nbsp;&nbsp;&nbsp; 453108677 | &nbsp;&nbsp;&nbsp;&nbsp; 1123640296 | &nbsp;&nbsp;&nbsp;&nbsp; 1123640296 |
| Distributions reinvested | 19841938 | &nbsp;&nbsp;&nbsp;&nbsp; 19841938 | &nbsp;&nbsp;&nbsp;&nbsp; 44291060 | &nbsp;&nbsp;&nbsp;&nbsp; 44291060 |
| Shares redeemed | (461995248)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (461995249)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (940987743)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (940987744)<br>|
| Net increase | 10955367 | &nbsp;&nbsp;&nbsp;&nbsp; 10955366 | &nbsp;&nbsp;&nbsp;&nbsp; 226943613 | &nbsp;&nbsp;&nbsp;&nbsp; 226943612 |
| Institutional Class |  |  |  |  |
| Shares sold | 347571155 | &nbsp;&nbsp;&nbsp;&nbsp; 347571155 | &nbsp;&nbsp;&nbsp;&nbsp; 982980119 | &nbsp;&nbsp;&nbsp;&nbsp; 982980119 |
| Distributions reinvested | 14031841 | &nbsp;&nbsp;&nbsp;&nbsp; 14031841 | &nbsp;&nbsp;&nbsp;&nbsp; 28770484 | &nbsp;&nbsp;&nbsp;&nbsp; 28770484 |
| Shares redeemed | (412413573)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (412413573)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (735313204)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (735313204)<br>|
| Net increase (decrease) | (50810577)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (50810577)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 276437399 | &nbsp;&nbsp;&nbsp;&nbsp; 276437399 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 152053579 | &nbsp;&nbsp;&nbsp;&nbsp; 152053579 | &nbsp;&nbsp;&nbsp;&nbsp; 349052512 | &nbsp;&nbsp;&nbsp;&nbsp; 349052512 |
| Distributions reinvested | 12746478 | &nbsp;&nbsp;&nbsp;&nbsp; 12746478 | &nbsp;&nbsp;&nbsp;&nbsp; 27421785 | &nbsp;&nbsp;&nbsp;&nbsp; 27421785 |
| Shares redeemed | (146864719)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (146864719)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (300522600)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (300522600)<br>|
| Net increase | 17935338 | &nbsp;&nbsp;&nbsp;&nbsp; 17935338 | &nbsp;&nbsp;&nbsp;&nbsp; 75951697 | &nbsp;&nbsp;&nbsp;&nbsp; 75951697 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 189946750 | &nbsp;&nbsp;&nbsp;&nbsp; 189946750 | &nbsp;&nbsp;&nbsp;&nbsp; 389543494 | &nbsp;&nbsp;&nbsp;&nbsp; 389543495 |
| Distributions reinvested | 5306874 | &nbsp;&nbsp;&nbsp;&nbsp; 5306874 | &nbsp;&nbsp;&nbsp;&nbsp; 10049656 | &nbsp;&nbsp;&nbsp;&nbsp; 10049656 |
| Shares redeemed | (183023529)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (183023529)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (293490291)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (293490291)<br>|
| Net increase | 12230095 | &nbsp;&nbsp;&nbsp;&nbsp; 12230095 | &nbsp;&nbsp;&nbsp;&nbsp; 106102859 | &nbsp;&nbsp;&nbsp;&nbsp; 106102860 |
| **Total net increase (decrease)** | **(9689777)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(9689778)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **685435568** | &nbsp;&nbsp;&nbsp;&nbsp; **685435568** |

---

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

Columbia Government Money Market Fund \| 2026

------

Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any, and is 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. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $1.00 | 0.02 | 0.00 | 0.02 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.02)<br>|
| Year Ended 7/31/2025 | $1.00 | 0.04 | 0.00 | 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2024 | $1.00 | 0.05 | 0.00 | 0.05 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>|
| Year Ended 7/31/2023 | $1.00 | 0.04 | &nbsp;&nbsp; (0.00)<br>| 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2022 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|
| Year Ended 7/31/2021 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $1.00 | 0.02 | 0.00 | 0.02 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.02)<br>|
| Year Ended 7/31/2025 | $1.00 | 0.04 | 0.00 | 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2024 | $1.00 | 0.05 | 0.00 | 0.05 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>|
| Year Ended 7/31/2023 | $1.00 | 0.04 | &nbsp;&nbsp; (0.00)<br>| 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2022 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|
| Year Ended 7/31/2021 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $1.00 | 0.02 | 0.00 | 0.02 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.02)<br>|
| Year Ended 7/31/2025 | $1.00 | 0.04 | 0.00 | 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2024 | $1.00 | 0.05 | 0.00 | 0.05 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>|
| Year Ended 7/31/2023 | $1.00 | 0.04 | &nbsp;&nbsp; (0.00)<br>| 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2022 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|
| Year Ended 7/31/2021 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $1.00 | 0.02 | 0.00 | 0.02 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.02)<br>|
| Year Ended 7/31/2025 | $1.00 | 0.04 | 0.00 | 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2024 | $1.00 | 0.05 | 0.00 | 0.05 | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>|
| Year Ended 7/31/2023 | $1.00 | 0.04 | &nbsp;&nbsp; (0.00)<br>| 0.04 | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.04)<br>|
| Year Ended 7/31/2022 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|
| Year Ended 7/31/2021 | $1.00 | 0.00 | 0.00 | 0.00 | &nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp; (0.00)<br>|

---

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

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (b) | The benefits derived from expense reductions had an impact of less than 0.01%. |
| (c) | Ratios include the impact of voluntary waivers paid by the Investment Manager. For the periods indicated below, if the Investment Manager had not paid these voluntary waivers, the Fund's net expense ratio would increase by: |

---

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

---

| | | |
|:---|:---|:---|
|  | **7/31/2022** | **7/31/2021** |
| Class A | 0.24% | &nbsp;&nbsp; 0.36% |
| Institutional Class | 0.24% | &nbsp;&nbsp; 0.36% |
| Institutional 2 Class | 0.04% | &nbsp;&nbsp; 0.27% |
| Institutional 3 Class | 0.13% | &nbsp;&nbsp; 0.21% |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Government Money Market Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<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** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.90% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.32% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1068749 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.41% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.29% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1057880 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.42% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.24% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $830989 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.76% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $470304 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.61% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17% <br><sup>(b),(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $367496 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.63% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08% <br><sup>(b),(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $359058 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.90% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.32% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $726668 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.41% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.29% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $777539 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.42% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.23% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $501133 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.76% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.51% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34% <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.83% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $165022 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.61% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17% <br><sup>(b),(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $91817 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.63% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08% <br><sup>(b),(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $85679 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.90% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $665414 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.41% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $647533 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.41% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $571612 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.84% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.36% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $459643 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.45% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $71925 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.07% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7647 |
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.92% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.78% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $292189 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.46% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.29% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.24% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.32% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $279983 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $173890 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.40% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.82% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $63300 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.21% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.46% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $57021 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.47% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.08% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $50960 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Government Money Market Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Government Money Market Fund (the Fund), a series of Columbia Funds Series Trust II (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**Fund shares**

The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust's organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.

As described in the Fund's prospectus, Class A shares are offered to the general public for investment. Institutional Class, Institutional 2 Class and Institutional 3 Class shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Certain securities in the Fund are valued utilizing the amortized cost valuation method permitted in accordance with Rule 2a-7 under the 1940 Act provided certain conditions are met, including that the Board of Trustees continues to believe that the amortized cost valuation method fairly reflects the market-based net asset value per share of the Fund. This method involves valuing a portfolio security initially at its cost and thereafter assuming a constant accretion or amortization to maturity of any discount or premium, respectively. The Board of Trustees has established procedures intended to stabilize the Fund's net asset value for purposes of purchases and redemptions of Fund shares at $1.00 per share. These procedures

Columbia Government Money Market Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

include determinations, at such intervals as the Board of Trustees deems appropriate and reasonable in light of current market conditions, of the extent, if any, to which the Fund's market-based net asset value deviates from $1.00 per share. In the event such deviation exceeds 1/2 of 1%, the Board of Trustees will promptly consider what action, if any, should be initiated.

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.

**Repurchase agreements** 

The Fund may invest in repurchase agreement transactions with institutions that management has determined are creditworthy. The Fund, through the custodian, receives delivery of the underlying securities collateralizing a repurchase agreement. Management is responsible for determining that the collateral is at least equal, at all times, to the value of the repurchase obligation including interest. A repurchase agreement transaction involves certain risks in the event of default or insolvency of the counterparty. These risks include possible delays in or restrictions on the Fund's ability to dispose of the underlying securities and a possible decline in the value of the underlying securities during the period while the Fund seeks to assert its rights.

**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 with counterparties as well as any related collateral received or pledged by the Fund as of January 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **RBC** <br>**Dominion** <br>**Securities**<br>| &nbsp;&nbsp; **TD** <br>**Securities**<br>| **Total** |
| **Assets** |  |  |  |
| Repurchase agreements | $&nbsp;&nbsp;&nbsp; 200000000<br>| &nbsp;&nbsp;&nbsp; 300000000<br>| &nbsp;&nbsp;&nbsp; 500000000<br>|
| **Total financial and derivative net assets** | &nbsp;&nbsp;&nbsp; **200000000**<br>| &nbsp;&nbsp;&nbsp; **300000000**<br>| &nbsp;&nbsp;&nbsp; **500000000**<br>|
| Total collateral received (pledged) <sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 200000000<br>| &nbsp;&nbsp;&nbsp; 300000000<br>| &nbsp;&nbsp;&nbsp; 500000000<br>|
| **Net amount** <sup>(b)</sup> <br>| $&nbsp;&nbsp;&nbsp; **-**<br>| &nbsp;&nbsp;&nbsp; **-**<br>| &nbsp;&nbsp;&nbsp; **-**<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization.

&nbsp;&nbsp;&nbsp;&nbsp;(b) 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.

**Income recognition**

Dividend income is recorded on the ex-dividend date.

Interest income, including amortization of premium and discount, is recognized daily.

**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.

Columbia Government Money Market Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually after the fiscal year in which the capital gains were earned or more frequently to seek to maintain a net asset value of $1.00 per share, unless such capital gains are offset by any available capital loss carryforward. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.29% to 0.08% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.26% 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.

Columbia Government Money Market Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.05 |
| Institutional Class | 0.05 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.01 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $1,846.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at an annual rate of up to 0.10% of the Fund's average daily net assets attributable to Class A shares. For the six months ended January 31, 2026, the Fund did not pay fees for Class A shares. The contractual fee suspension on Class A shares is effective through November 30, 2026.

Columbia Government Money Market Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.43 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.33 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.28 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. In addition, from time to time, the Investment Manager and its affiliates may waive or absorb expenses of the Fund with the intent of allowing the Fund to avoid a negative net yield or to increase the Fund's positive net yield. The Fund's yield would be negative if Fund expenses exceed Fund income. Any such expense limitation is voluntary and may be revised or terminated at any time without notice to shareholders and, accordingly, any positive net yield resulting therefrom will cease. In addition to the contractual agreement, the Investment Manager and certain of its affiliates have voluntarily agreed to waive fees and/or reimburse Fund expenses (excluding certain fees and expenses described above) so that Fund level expenses (expenses directly attributable to the Fund and not to a specific share class) are waived proportionately across all share classes. This arrangement may be revised or discontinued at any time. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods. The contractual expense cap includes distribution and shareholder services fees. As discussed above, the distribution and/or shareholder services fee is not charged to Class A shares.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the cost of all investments for federal income tax purposes was approximately $2,696,179,000. Tax cost of investments may also include timing differences that do not constitute adjustments to tax basis.

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 Government Money Market Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 5. 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.

As noted above, the Fund may only participate in the Interfund Program as a lending fund. The Fund did not lend money under the Interfund Program during the six months ended January 31, 2026.

Note 6. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 7. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Columbia Government Money Market Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

**Shareholder concentration risk** 

At January 31, 2026, one unaffiliated shareholder of record owned 28.5% of the outstanding shares of the Fund in one or more accounts. The Fund has no knowledge about whether any portion of those shares was owned beneficially. Affiliated shareholders of record owned 44.4% 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 8. 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 9. 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 Government Money Market Fund \| 2026

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[THIS PAGE INTENTIONALLY LEFT BLANK]

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**Columbia Government Money Market Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img27bd39c42.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR200_07_T01_(03/26)

------

![](g80035img8bdb029b1.jpg)

Columbia Income Opportunities Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_94184881-6c4b-42f6-95cf-f4c31686d871_POI-CommonContent-Date-83_1) | 3 |
| [Statement of Assets and Liabilities](#xx_94184881-6c4b-42f6-95cf-f4c31686d871_FS-CommonContent-Date-83_1) | 16 |
| [Statement of Operations](#xx_94184881-6c4b-42f6-95cf-f4c31686d871_FS-CommonContent-Date-83_3) | 18 |
| [Statement of Changes in Net Assets](#xx_94184881-6c4b-42f6-95cf-f4c31686d871_FS-CommonContent-Date-83_4) | 19 |
| [Financial Highlights](#xx_94184881-6c4b-42f6-95cf-f4c31686d871_FIHI-CommonContent-Date-83_2) | 22 |
| [Notes to Financial Statements](#xx_94184881-6c4b-42f6-95cf-f4c31686d871_NTF-CommonContent-Date-83_1) | 26 |

---

Columbia Income Opportunities Fund \| 2026

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Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks 0.0%** | **Common Stocks 0.0%** | **Common Stocks 0.0%** |
| **Issuer** | **Shares** | **Value ($)** |
| **Communication Services 0.0%** | **Communication Services 0.0%** | **Communication Services 0.0%** |
| **Media 0.0%** | **Media 0.0%** | **Media 0.0%** |
| Haights Cross Communications, Inc.<sup>(a),(b),(c)</sup> <br>| &nbsp;&nbsp; 275078 | &nbsp;&nbsp; 1 |
| Telesat Corp.<sup>(b)</sup> <br>| &nbsp;&nbsp; 101 | &nbsp;&nbsp; 2933 |
| Ziff Davis Holdings, Inc.<sup>(a),(b),(c)</sup> <br>| &nbsp;&nbsp; 6107 | &nbsp;&nbsp; 61 |
| Total |  | &nbsp;&nbsp; 2995 |
| **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **2995** |
| **Consumer Discretionary 0.0%** | **Consumer Discretionary 0.0%** | **Consumer Discretionary 0.0%** |
| **Automobile Components 0.0%** | **Automobile Components 0.0%** | **Automobile Components 0.0%** |
| Lear Corp. | &nbsp;&nbsp; 581 | &nbsp;&nbsp; 68029 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **68029** |
| **Industrials 0.0%** | **Industrials 0.0%** | **Industrials 0.0%** |
| **Commercial Services & Supplies 0.0%** | **Commercial Services & Supplies 0.0%** | **Commercial Services & Supplies 0.0%** |
| Quad/Graphics, Inc. | &nbsp;&nbsp; 1298 | &nbsp;&nbsp; 7944 |
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **7944** |
| **Utilities —%** | **Utilities —%** | **Utilities —%** |
| **Independent Power and Renewable Electricity Producers —%** | **Independent Power and Renewable Electricity Producers —%** | **Independent Power and Renewable Electricity Producers —%** |
| Calpine Corp. Escrow<sup>(a),(b),(c)</sup> <br>| &nbsp;&nbsp; 23187000 | &nbsp;&nbsp; 0 |
| **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **0** |
| Total Common Stocks <br>(Cost $3,191,147) | Total Common Stocks <br>(Cost $3,191,147) | &nbsp;&nbsp; **78968** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Convertible Bonds 0.5%** | **Convertible Bonds 0.5%** | **Convertible Bonds 0.5%** | **Convertible Bonds 0.5%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Electric 0.5%** | **Electric 0.5%** | **Electric 0.5%** | **Electric 0.5%** |
| NextEra Energy Partners LP<sup>(d)</sup>  | NextEra Energy Partners LP<sup>(d)</sup>  | NextEra Energy Partners LP<sup>(d)</sup>  | NextEra Energy Partners LP<sup>(d)</sup>  |
| 06/15/2026 | &nbsp;&nbsp; 2.500% | 3647881 | &nbsp;&nbsp; 3579666 |
| Total Convertible Bonds <br>(Cost $3,578,857) | Total Convertible Bonds <br>(Cost $3,578,857) | Total Convertible Bonds <br>(Cost $3,578,857) | &nbsp;&nbsp; **3579666** |
| **Corporate Bonds & Notes 92.2%** | **Corporate Bonds & Notes 92.2%** | **Corporate Bonds & Notes 92.2%** | **Corporate Bonds & Notes 92.2%** |
| **Aerospace & Defense 2.1%** | **Aerospace & Defense 2.1%** | **Aerospace & Defense 2.1%** | **Aerospace & Defense 2.1%** |
| Allegheny Technologies, Inc. | Allegheny Technologies, Inc. | Allegheny Technologies, Inc. | Allegheny Technologies, Inc. |
| 10/01/2029 | &nbsp;&nbsp; 4.875% | 603000 | &nbsp;&nbsp; 602123 |
| 10/01/2031 | &nbsp;&nbsp; 5.125% | 1499000 | &nbsp;&nbsp; 1501728 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| TransDigm, Inc.<sup>(d)</sup>  | TransDigm, Inc.<sup>(d)</sup>  | TransDigm, Inc.<sup>(d)</sup>  | TransDigm, Inc.<sup>(d)</sup>  |
| 03/01/2029 | &nbsp;&nbsp; 6.375% | 3410000 | &nbsp;&nbsp; 3508158 |
| 03/01/2032 | &nbsp;&nbsp; 6.625% | 3873000 | &nbsp;&nbsp; 4011756 |
| 01/15/2033 | &nbsp;&nbsp; 6.000% | 1198000 | &nbsp;&nbsp; 1220669 |
| 05/31/2033 | &nbsp;&nbsp; 6.375% | 2746000 | &nbsp;&nbsp; 2796053 |
| 01/31/2034 | &nbsp;&nbsp; 6.750% | 1813000 | &nbsp;&nbsp; 1876905 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15517392** |
| **Airlines 0.7%** | **Airlines 0.7%** | **Airlines 0.7%** | **Airlines 0.7%** |
| American Airlines, Inc.<sup>(d)</sup>  | American Airlines, Inc.<sup>(d)</sup>  | American Airlines, Inc.<sup>(d)</sup>  | American Airlines, Inc.<sup>(d)</sup>  |
| 05/15/2029 | &nbsp;&nbsp; 8.500% | 1969000 | &nbsp;&nbsp; 2053950 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(d)</sup>  | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(d)</sup>  | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(d)</sup>  | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(d)</sup>  |
| 04/20/2026 | &nbsp;&nbsp; 5.500% | 169695 | &nbsp;&nbsp; 169923 |
| 04/20/2029 | &nbsp;&nbsp; 5.750% | 3182830 | &nbsp;&nbsp; 3216102 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5439975** |
| **Automotive 2.7%** | **Automotive 2.7%** | **Automotive 2.7%** | **Automotive 2.7%** |
| American Axle & Manufacturing, Inc.<sup>(d)</sup>  | American Axle & Manufacturing, Inc.<sup>(d)</sup>  | American Axle & Manufacturing, Inc.<sup>(d)</sup>  | American Axle & Manufacturing, Inc.<sup>(d)</sup>  |
| 10/15/2032 | &nbsp;&nbsp; 6.375% | 831000 | &nbsp;&nbsp; 848122 |
| 10/15/2033 | &nbsp;&nbsp; 7.750% | 2261000 | &nbsp;&nbsp; 2324612 |
| Clarios Global LP/US Finance Co.<sup>(d)</sup>  | Clarios Global LP/US Finance Co.<sup>(d)</sup>  | Clarios Global LP/US Finance Co.<sup>(d)</sup>  | Clarios Global LP/US Finance Co.<sup>(d)</sup>  |
| 02/15/2030 | &nbsp;&nbsp; 6.750% | 1473000 | &nbsp;&nbsp; 1540925 |
| 09/15/2032 | &nbsp;&nbsp; 6.750% | 1468000 | &nbsp;&nbsp; 1521236 |
| Forvia SE<sup>(d)</sup>  | Forvia SE<sup>(d)</sup>  | Forvia SE<sup>(d)</sup>  | Forvia SE<sup>(d)</sup>  |
| 09/15/2033 | &nbsp;&nbsp; 6.750% | 844000 | &nbsp;&nbsp; 865594 |
| IHO Verwaltungs GmbH<sup>(d),(e)</sup>  | IHO Verwaltungs GmbH<sup>(d),(e)</sup>  | IHO Verwaltungs GmbH<sup>(d),(e)</sup>  | IHO Verwaltungs GmbH<sup>(d),(e)</sup>  |
| 11/15/2030 | &nbsp;&nbsp; 7.750% | 836000 | &nbsp;&nbsp; 879991 |
| 11/15/2032 | &nbsp;&nbsp; 8.000% | 1205000 | &nbsp;&nbsp; 1283179 |
| Nissan Motor Acceptance Co. LLC<sup>(d)</sup>  | Nissan Motor Acceptance Co. LLC<sup>(d)</sup>  | Nissan Motor Acceptance Co. LLC<sup>(d)</sup>  | Nissan Motor Acceptance Co. LLC<sup>(d)</sup>  |
| 09/30/2030 | &nbsp;&nbsp; 6.125% | 777000 | &nbsp;&nbsp; 774868 |
| Nissan Motor Co., Ltd.<sup>(d)</sup>  | Nissan Motor Co., Ltd.<sup>(d)</sup>  | Nissan Motor Co., Ltd.<sup>(d)</sup>  | Nissan Motor Co., Ltd.<sup>(d)</sup>  |
| 07/17/2032 | &nbsp;&nbsp; 7.750% | 652000 | &nbsp;&nbsp; 689836 |
| 07/17/2035 | &nbsp;&nbsp; 8.125% | 1908000 | &nbsp;&nbsp; 2039990 |
| ZF North America Capital, Inc.<sup>(d)</sup>  | ZF North America Capital, Inc.<sup>(d)</sup>  | ZF North America Capital, Inc.<sup>(d)</sup>  | ZF North America Capital, Inc.<sup>(d)</sup>  |
| 04/14/2030 | &nbsp;&nbsp; 7.125% | 527000 | &nbsp;&nbsp; 538313 |
| 03/24/2031 | &nbsp;&nbsp; 7.500% | 2318000 | &nbsp;&nbsp; 2375711 |
| 04/23/2032 | &nbsp;&nbsp; 6.875% | 3709000 | &nbsp;&nbsp; 3696993 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **19379370** |
| **Banking 0.1%** | **Banking 0.1%** | **Banking 0.1%** | **Banking 0.1%** |
| Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 02/14/2033 | &nbsp;&nbsp; 6.700% | 680000 | &nbsp;&nbsp; 708361 |
| Ally Financial, Inc.<sup>(f)</sup>  | Ally Financial, Inc.<sup>(f)</sup>  | Ally Financial, Inc.<sup>(f)</sup>  | Ally Financial, Inc.<sup>(f)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 01/17/2040 | &nbsp;&nbsp; 6.646% | 361000 | &nbsp;&nbsp; 361505 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1069866** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Brokerage/Asset Managers/Exchanges 1.2%** | **Brokerage/Asset Managers/Exchanges 1.2%** | **Brokerage/Asset Managers/Exchanges 1.2%** | **Brokerage/Asset Managers/Exchanges 1.2%** |
| Aretec Escrow Issuer 2, Inc.<sup>(d)</sup>  | Aretec Escrow Issuer 2, Inc.<sup>(d)</sup>  | Aretec Escrow Issuer 2, Inc.<sup>(d)</sup>  | Aretec Escrow Issuer 2, Inc.<sup>(d)</sup>  |
| 08/15/2030 | &nbsp;&nbsp; 10.000% | 3602000 | &nbsp;&nbsp; 3884540 |
| Focus Financial Partners LLC<sup>(d)</sup>  | Focus Financial Partners LLC<sup>(d)</sup>  | Focus Financial Partners LLC<sup>(d)</sup>  | Focus Financial Partners LLC<sup>(d)</sup>  |
| 09/15/2031 | &nbsp;&nbsp; 6.750% | 1548000 | &nbsp;&nbsp; 1585019 |
| Osaic Holdings, Inc.<sup>(d)</sup>  | Osaic Holdings, Inc.<sup>(d)</sup>  | Osaic Holdings, Inc.<sup>(d)</sup>  | Osaic Holdings, Inc.<sup>(d)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 6.750% | 1727000 | &nbsp;&nbsp; 1788804 |
| 08/01/2032 | &nbsp;&nbsp; 6.750% | 1418000 | &nbsp;&nbsp; 1469431 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8727794** |
| **Building Materials 1.4%** | **Building Materials 1.4%** | **Building Materials 1.4%** | **Building Materials 1.4%** |
| LBM Acquisition LLC<sup>(d)</sup>  | LBM Acquisition LLC<sup>(d)</sup>  | LBM Acquisition LLC<sup>(d)</sup>  | LBM Acquisition LLC<sup>(d)</sup>  |
| 06/15/2031 | &nbsp;&nbsp; 9.500% | 1669000 | &nbsp;&nbsp; 1758627 |
| Quikrete Holdings, Inc.<sup>(d)</sup>  | Quikrete Holdings, Inc.<sup>(d)</sup>  | Quikrete Holdings, Inc.<sup>(d)</sup>  | Quikrete Holdings, Inc.<sup>(d)</sup>  |
| 03/01/2032 | &nbsp;&nbsp; 6.375% | 2578000 | &nbsp;&nbsp; 2673816 |
| 03/01/2033 | &nbsp;&nbsp; 6.750% | 1376000 | &nbsp;&nbsp; 1428203 |
| QXO Building Products, Inc.<sup>(d)</sup>  | QXO Building Products, Inc.<sup>(d)</sup>  | QXO Building Products, Inc.<sup>(d)</sup>  | QXO Building Products, Inc.<sup>(d)</sup>  |
| 04/30/2032 | &nbsp;&nbsp; 6.750% | 1521000 | &nbsp;&nbsp; 1568740 |
| Standard Building Solutions, Inc.<sup>(d)</sup>  | Standard Building Solutions, Inc.<sup>(d)</sup>  | Standard Building Solutions, Inc.<sup>(d)</sup>  | Standard Building Solutions, Inc.<sup>(d)</sup>  |
| 08/15/2032 | &nbsp;&nbsp; 6.500% | 476000 | &nbsp;&nbsp; 490933 |
| 08/01/2033 | &nbsp;&nbsp; 6.250% | 358000 | &nbsp;&nbsp; 365898 |
| Standard Industries, Inc.<sup>(d)</sup>  | Standard Industries, Inc.<sup>(d)</sup>  | Standard Industries, Inc.<sup>(d)</sup>  | Standard Industries, Inc.<sup>(d)</sup>  |
| 01/15/2028 | &nbsp;&nbsp; 4.750% | 1219000 | &nbsp;&nbsp; 1213358 |
| 07/15/2030 | &nbsp;&nbsp; 4.375% | 750000 | &nbsp;&nbsp; 724287 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10223862** |
| **Cable and Satellite 5.1%** | **Cable and Satellite 5.1%** | **Cable and Satellite 5.1%** | **Cable and Satellite 5.1%** |
| CCO Holdings LLC/Capital Corp.<sup>(d)</sup>  | CCO Holdings LLC/Capital Corp.<sup>(d)</sup>  | CCO Holdings LLC/Capital Corp.<sup>(d)</sup>  | CCO Holdings LLC/Capital Corp.<sup>(d)</sup>  |
| 06/01/2029 | &nbsp;&nbsp; 5.375% | 1435000 | &nbsp;&nbsp; 1419029 |
| 03/01/2030 | &nbsp;&nbsp; 4.750% | 3806000 | &nbsp;&nbsp; 3638514 |
| 08/15/2030 | &nbsp;&nbsp; 4.500% | 4631000 | &nbsp;&nbsp; 4358070 |
| 03/01/2031 | &nbsp;&nbsp; 7.375% | 350000 | &nbsp;&nbsp; 359925 |
| 02/01/2032 | &nbsp;&nbsp; 4.750% | 2771000 | &nbsp;&nbsp; 2531678 |
| 02/01/2033 | &nbsp;&nbsp; 7.000% | 649000 | &nbsp;&nbsp; 655194 |
| 01/15/2034 | &nbsp;&nbsp; 4.250% | 2557000 | &nbsp;&nbsp; 2159081 |
| 02/01/2036 | &nbsp;&nbsp; 7.375% | 444000 | &nbsp;&nbsp; 445074 |
| 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% | 1745000 | &nbsp;&nbsp; 1567841 |
| DISH Network Corp.<sup>(d)</sup>  | DISH Network Corp.<sup>(d)</sup>  | DISH Network Corp.<sup>(d)</sup>  | DISH Network Corp.<sup>(d)</sup>  |
| 11/15/2027 | &nbsp;&nbsp; 11.750% | 3660000 | &nbsp;&nbsp; 3784865 |
| EchoStar Corp. | EchoStar Corp. | EchoStar Corp. | EchoStar Corp. |
| 11/30/2029 | &nbsp;&nbsp; 10.750% | 3518684 | &nbsp;&nbsp; 3856916 |
| EchoStar Corp.<sup>(e)</sup>  | EchoStar Corp.<sup>(e)</sup>  | EchoStar Corp.<sup>(e)</sup>  | EchoStar Corp.<sup>(e)</sup>  |
| 11/30/2030 | &nbsp;&nbsp; 6.750% | 1200039 | &nbsp;&nbsp; 1219777 |
| Sirius XM Radio, Inc.<sup>(d)</sup>  | Sirius XM Radio, Inc.<sup>(d)</sup>  | Sirius XM Radio, Inc.<sup>(d)</sup>  | Sirius XM Radio, Inc.<sup>(d)</sup>  |
| 09/01/2026 | &nbsp;&nbsp; 3.125% | 1729000 | &nbsp;&nbsp; 1717975 |
| 07/01/2030 | &nbsp;&nbsp; 4.125% | 3553000 | &nbsp;&nbsp; 3359007 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Virgin Media Finance PLC<sup>(d)</sup>  | Virgin Media Finance PLC<sup>(d)</sup>  | Virgin Media Finance PLC<sup>(d)</sup>  | Virgin Media Finance PLC<sup>(d)</sup>  |
| 07/15/2030 | &nbsp;&nbsp; 5.000% | 1290000 | &nbsp;&nbsp; 1135558 |
| VZ Secured Financing BV<sup>(d)</sup>  | VZ Secured Financing BV<sup>(d)</sup>  | VZ Secured Financing BV<sup>(d)</sup>  | VZ Secured Financing BV<sup>(d)</sup>  |
| 01/15/2032 | &nbsp;&nbsp; 5.000% | 4133000 | &nbsp;&nbsp; 3733169 |
| Ziggo Bond Co. BV<sup>(d)</sup>  | Ziggo Bond Co. BV<sup>(d)</sup>  | Ziggo Bond Co. BV<sup>(d)</sup>  | Ziggo Bond Co. BV<sup>(d)</sup>  |
| 02/28/2030 | &nbsp;&nbsp; 5.125% | 1205000 | &nbsp;&nbsp; 1066480 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **37008153** |
| **Chemicals 4.4%** | **Chemicals 4.4%** | **Chemicals 4.4%** | **Chemicals 4.4%** |
| Ashland LLC<sup>(d)</sup>  | Ashland LLC<sup>(d)</sup>  | Ashland LLC<sup>(d)</sup>  | Ashland LLC<sup>(d)</sup>  |
| 09/01/2031 | &nbsp;&nbsp; 3.375% | 3217000 | &nbsp;&nbsp; 2950130 |
| Avient Corp.<sup>(d)</sup>  | Avient Corp.<sup>(d)</sup>  | Avient Corp.<sup>(d)</sup>  | Avient Corp.<sup>(d)</sup>  |
| 11/01/2031 | &nbsp;&nbsp; 6.250% | 274000 | &nbsp;&nbsp; 281645 |
| Celanese US Holdings LLC | Celanese US Holdings LLC | Celanese US Holdings LLC | Celanese US Holdings LLC |
| 04/15/2030 | &nbsp;&nbsp; 6.500% | 414000 | &nbsp;&nbsp; 420790 |
| 02/15/2031 | &nbsp;&nbsp; 7.000% | 735000 | &nbsp;&nbsp; 752491 |
| 07/15/2032 | &nbsp;&nbsp; 6.879% | 490000 | &nbsp;&nbsp; 511516 |
| 04/15/2033 | &nbsp;&nbsp; 6.750% | 711000 | &nbsp;&nbsp; 720093 |
| 11/15/2033 | &nbsp;&nbsp; 7.200% | 1085000 | &nbsp;&nbsp; 1147565 |
| 02/15/2034 | &nbsp;&nbsp; 7.375% | 955000 | &nbsp;&nbsp; 972179 |
| Element Solutions, Inc.<sup>(d)</sup>  | Element Solutions, Inc.<sup>(d)</sup>  | Element Solutions, Inc.<sup>(d)</sup>  | Element Solutions, Inc.<sup>(d)</sup>  |
| 09/01/2028 | &nbsp;&nbsp; 3.875% | 1516000 | &nbsp;&nbsp; 1478597 |
| HB Fuller Co. | HB Fuller Co. | HB Fuller Co. | HB Fuller Co. |
| 10/15/2028 | &nbsp;&nbsp; 4.250% | 523000 | &nbsp;&nbsp; 514457 |
| Herens Holdco Sarl<sup>(d)</sup>  | Herens Holdco Sarl<sup>(d)</sup>  | Herens Holdco Sarl<sup>(d)</sup>  | Herens Holdco Sarl<sup>(d)</sup>  |
| 05/15/2028 | &nbsp;&nbsp; 4.750% | 1157000 | &nbsp;&nbsp; 1018313 |
| INEOS Finance PLC<sup>(d)</sup>  | INEOS Finance PLC<sup>(d)</sup>  | INEOS Finance PLC<sup>(d)</sup>  | INEOS Finance PLC<sup>(d)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 7.500% | 2445000 | &nbsp;&nbsp; 2078702 |
| INEOS Quattro Finance 2 PLC<sup>(d)</sup>  | INEOS Quattro Finance 2 PLC<sup>(d)</sup>  | INEOS Quattro Finance 2 PLC<sup>(d)</sup>  | INEOS Quattro Finance 2 PLC<sup>(d)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 9.625% | 3226000 | &nbsp;&nbsp; 2560719 |
| Inversion Escrow Issuer LLC<sup>(d)</sup>  | Inversion Escrow Issuer LLC<sup>(d)</sup>  | Inversion Escrow Issuer LLC<sup>(d)</sup>  | Inversion Escrow Issuer LLC<sup>(d)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 6.750% | 2191000 | &nbsp;&nbsp; 2171065 |
| Olympus Water US Holding Corp.<sup>(d)</sup>  | Olympus Water US Holding Corp.<sup>(d)</sup>  | Olympus Water US Holding Corp.<sup>(d)</sup>  | Olympus Water US Holding Corp.<sup>(d)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 4.250% | 1341000 | &nbsp;&nbsp; 1299257 |
| 06/15/2031 | &nbsp;&nbsp; 7.250% | 1596000 | &nbsp;&nbsp; 1636162 |
| 02/15/2033 | &nbsp;&nbsp; 7.250% | 1436000 | &nbsp;&nbsp; 1431509 |
| Qnity Electronics, Inc.<sup>(d)</sup>  | Qnity Electronics, Inc.<sup>(d)</sup>  | Qnity Electronics, Inc.<sup>(d)</sup>  | Qnity Electronics, Inc.<sup>(d)</sup>  |
| 08/15/2032 | &nbsp;&nbsp; 5.750% | 805000 | &nbsp;&nbsp; 819676 |
| 08/15/2033 | &nbsp;&nbsp; 6.250% | 645000 | &nbsp;&nbsp; 666061 |
| Tronox, Inc.<sup>(d)</sup>  | Tronox, Inc.<sup>(d)</sup>  | Tronox, Inc.<sup>(d)</sup>  | Tronox, Inc.<sup>(d)</sup>  |
| 09/30/2030 | &nbsp;&nbsp; 9.125% | 401000 | &nbsp;&nbsp; 397375 |
| WR Grace Holdings LLC<sup>(d)</sup>  | WR Grace Holdings LLC<sup>(d)</sup>  | WR Grace Holdings LLC<sup>(d)</sup>  | WR Grace Holdings LLC<sup>(d)</sup>  |
| 06/15/2027 | &nbsp;&nbsp; 4.875% | 1955000 | &nbsp;&nbsp; 1955000 |
| 03/01/2031 | &nbsp;&nbsp; 7.375% | 2461000 | &nbsp;&nbsp; 2511742 |
| 08/15/2032 | &nbsp;&nbsp; 6.625% | 2873000 | &nbsp;&nbsp; 2859030 |
| 08/01/2033 | &nbsp;&nbsp; 7.000% | 668000 | &nbsp;&nbsp; 668891 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **31822965** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Construction Machinery 1.5%** | **Construction Machinery 1.5%** | **Construction Machinery 1.5%** | **Construction Machinery 1.5%** |
| Herc Holdings, Inc.<sup>(d)</sup>  | Herc Holdings, Inc.<sup>(d)</sup>  | Herc Holdings, Inc.<sup>(d)</sup>  | Herc Holdings, Inc.<sup>(d)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 7.000% | 1200000 | &nbsp;&nbsp; 1258949 |
| 03/15/2031 | &nbsp;&nbsp; 5.750% | 422000 | &nbsp;&nbsp; 424792 |
| 06/15/2033 | &nbsp;&nbsp; 7.250% | 3768000 | &nbsp;&nbsp; 3987524 |
| 03/15/2034 | &nbsp;&nbsp; 6.000% | 435000 | &nbsp;&nbsp; 437048 |
| Ritchie Bros Holdings, Inc.<sup>(d)</sup>  | Ritchie Bros Holdings, Inc.<sup>(d)</sup>  | Ritchie Bros Holdings, Inc.<sup>(d)</sup>  | Ritchie Bros Holdings, Inc.<sup>(d)</sup>  |
| 03/15/2028 | &nbsp;&nbsp; 6.750% | 372000 | &nbsp;&nbsp; 379075 |
| 03/15/2031 | &nbsp;&nbsp; 7.750% | 980000 | &nbsp;&nbsp; 1021645 |
| Synergy Infrastructure Holdings LLC<sup>(d)</sup>  | Synergy Infrastructure Holdings LLC<sup>(d)</sup>  | Synergy Infrastructure Holdings LLC<sup>(d)</sup>  | Synergy Infrastructure Holdings LLC<sup>(d)</sup>  |
| 12/01/2030 | &nbsp;&nbsp; 7.875% | 1332000 | &nbsp;&nbsp; 1389935 |
| United Rentals North America, Inc.<sup>(d)</sup>  | United Rentals North America, Inc.<sup>(d)</sup>  | United Rentals North America, Inc.<sup>(d)</sup>  | United Rentals North America, Inc.<sup>(d)</sup>  |
| 11/15/2033 | &nbsp;&nbsp; 5.375% | 1470000 | &nbsp;&nbsp; 1469285 |
| 03/15/2034 | &nbsp;&nbsp; 6.125% | 431000 | &nbsp;&nbsp; 448542 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10816795** |
| **Consumer Cyclical Services 0.8%** | **Consumer Cyclical Services 0.8%** | **Consumer Cyclical Services 0.8%** | **Consumer Cyclical Services 0.8%** |
| Arches Buyer, Inc.<sup>(d)</sup>  | Arches Buyer, Inc.<sup>(d)</sup>  | Arches Buyer, Inc.<sup>(d)</sup>  | Arches Buyer, Inc.<sup>(d)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 4.250% | 1980000 | &nbsp;&nbsp; 1947935 |
| Match Group Holdings II LLC<sup>(d)</sup>  | Match Group Holdings II LLC<sup>(d)</sup>  | Match Group Holdings II LLC<sup>(d)</sup>  | Match Group Holdings II LLC<sup>(d)</sup>  |
| 10/01/2031 | &nbsp;&nbsp; 3.625% | 794000 | &nbsp;&nbsp; 720286 |
| Match Group, Inc.<sup>(d)</sup>  | Match Group, Inc.<sup>(d)</sup>  | Match Group, Inc.<sup>(d)</sup>  | Match Group, Inc.<sup>(d)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 4.625% | 381000 | &nbsp;&nbsp; 377410 |
| 02/15/2029 | &nbsp;&nbsp; 5.625% | 2843000 | &nbsp;&nbsp; 2842425 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5888056** |
| **Consumer Products 1.2%** | **Consumer Products 1.2%** | **Consumer Products 1.2%** | **Consumer Products 1.2%** |
| CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(d)</sup>  | CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(d)</sup>  | CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(d)</sup>  | CD&R Smokey Buyer, Inc./Radio Systems Corp.<sup>(d)</sup>  |
| 10/15/2029 | &nbsp;&nbsp; 9.500% | 429000 | &nbsp;&nbsp; 378390 |
| Newell Brands, Inc.<sup>(d)</sup>  | Newell Brands, Inc.<sup>(d)</sup>  | Newell Brands, Inc.<sup>(d)</sup>  | Newell Brands, Inc.<sup>(d)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 8.500% | 891000 | &nbsp;&nbsp; 934764 |
| Newell Brands, Inc. | Newell Brands, Inc. | Newell Brands, Inc. | Newell Brands, Inc. |
| 05/15/2030 | &nbsp;&nbsp; 6.375% | 894000 | &nbsp;&nbsp; 883373 |
| 05/15/2032 | &nbsp;&nbsp; 6.625% | 1769000 | &nbsp;&nbsp; 1733620 |
| Opal Bidco SAS<sup>(d)</sup>  | Opal Bidco SAS<sup>(d)</sup>  | Opal Bidco SAS<sup>(d)</sup>  | Opal Bidco SAS<sup>(d)</sup>  |
| 03/31/2032 | &nbsp;&nbsp; 6.500% | 1328000 | &nbsp;&nbsp; 1355874 |
| Prestige Brands, Inc.<sup>(d)</sup>  | Prestige Brands, Inc.<sup>(d)</sup>  | Prestige Brands, Inc.<sup>(d)</sup>  | Prestige Brands, Inc.<sup>(d)</sup>  |
| 01/15/2028 | &nbsp;&nbsp; 5.125% | 1103000 | &nbsp;&nbsp; 1103466 |
| Scotts Miracle-Gro Co. (The) | Scotts Miracle-Gro Co. (The) | Scotts Miracle-Gro Co. (The) | Scotts Miracle-Gro Co. (The) |
| 02/01/2032 | &nbsp;&nbsp; 4.375% | 1879000 | &nbsp;&nbsp; 1774225 |
| Whirlpool Corp. | Whirlpool Corp. | Whirlpool Corp. | Whirlpool Corp. |
| 06/15/2030 | &nbsp;&nbsp; 6.125% | 278000 | &nbsp;&nbsp; 278993 |
| 06/15/2033 | &nbsp;&nbsp; 6.500% | 289000 | &nbsp;&nbsp; 285069 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8727774** |
| **Diversified Manufacturing 2.4%** | **Diversified Manufacturing 2.4%** | **Diversified Manufacturing 2.4%** | **Diversified Manufacturing 2.4%** |
| Amsted Industries, Inc.<sup>(d)</sup>  | Amsted Industries, Inc.<sup>(d)</sup>  | Amsted Industries, Inc.<sup>(d)</sup>  | Amsted Industries, Inc.<sup>(d)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.375% | 343000 | &nbsp;&nbsp; 354862 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Chart Industries, Inc.<sup>(d)</sup>  | Chart Industries, Inc.<sup>(d)</sup>  | Chart Industries, Inc.<sup>(d)</sup>  | Chart Industries, Inc.<sup>(d)</sup>  |
| 01/01/2030 | &nbsp;&nbsp; 7.500% | 973000 | &nbsp;&nbsp; 1013752 |
| Columbus McKinnon Corp.<sup>(d)</sup>  | Columbus McKinnon Corp.<sup>(d)</sup>  | Columbus McKinnon Corp.<sup>(d)</sup>  | Columbus McKinnon Corp.<sup>(d)</sup>  |
| 02/01/2033 | &nbsp;&nbsp; 7.125% | 419000 | &nbsp;&nbsp; 421161 |
| Emerald Debt Merger Sub LLC<sup>(d)</sup>  | Emerald Debt Merger Sub LLC<sup>(d)</sup>  | Emerald Debt Merger Sub LLC<sup>(d)</sup>  | Emerald Debt Merger Sub LLC<sup>(d)</sup>  |
| 12/15/2030 | &nbsp;&nbsp; 6.625% | 3368000 | &nbsp;&nbsp; 3491398 |
| EMRLD Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  | EMRLD Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  | EMRLD Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  | EMRLD Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  |
| 07/15/2031 | &nbsp;&nbsp; 6.750% | 1071000 | &nbsp;&nbsp; 1122318 |
| Esab Corp.<sup>(d)</sup>  | Esab Corp.<sup>(d)</sup>  | Esab Corp.<sup>(d)</sup>  | Esab Corp.<sup>(d)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 6.250% | 833000 | &nbsp;&nbsp; 856207 |
| Gates Corp. (The)<sup>(d)</sup>  | Gates Corp. (The)<sup>(d)</sup>  | Gates Corp. (The)<sup>(d)</sup>  | Gates Corp. (The)<sup>(d)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 6.875% | 849000 | &nbsp;&nbsp; 882272 |
| Resideo Funding, Inc.<sup>(d)</sup>  | Resideo Funding, Inc.<sup>(d)</sup>  | Resideo Funding, Inc.<sup>(d)</sup>  | Resideo Funding, Inc.<sup>(d)</sup>  |
| 09/01/2029 | &nbsp;&nbsp; 4.000% | 1532000 | &nbsp;&nbsp; 1476252 |
| Vertical US Newco, Inc.<sup>(d)</sup>  | Vertical US Newco, Inc.<sup>(d)</sup>  | Vertical US Newco, Inc.<sup>(d)</sup>  | Vertical US Newco, Inc.<sup>(d)</sup>  |
| 07/15/2027 | &nbsp;&nbsp; 5.250% | 2409000 | &nbsp;&nbsp; 2408998 |
| Wesco Distribution, Inc.<sup>(d)</sup>  | Wesco Distribution, Inc.<sup>(d)</sup>  | Wesco Distribution, Inc.<sup>(d)</sup>  | Wesco Distribution, Inc.<sup>(d)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.375% | 719000 | &nbsp;&nbsp; 748183 |
| WESCO Distribution, Inc.<sup>(d)</sup>  | WESCO Distribution, Inc.<sup>(d)</sup>  | WESCO Distribution, Inc.<sup>(d)</sup>  | WESCO Distribution, Inc.<sup>(d)</sup>  |
| 06/15/2028 | &nbsp;&nbsp; 7.250% | 687000 | &nbsp;&nbsp; 695672 |
| 03/15/2029 | &nbsp;&nbsp; 6.375% | 1524000 | &nbsp;&nbsp; 1572038 |
| 03/15/2032 | &nbsp;&nbsp; 6.625% | 1957000 | &nbsp;&nbsp; 2045925 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **17089038** |
| **Electric 5.8%** | **Electric 5.8%** | **Electric 5.8%** | **Electric 5.8%** |
| Alpha Generation LLC<sup>(d)</sup>  | Alpha Generation LLC<sup>(d)</sup>  | Alpha Generation LLC<sup>(d)</sup>  | Alpha Generation LLC<sup>(d)</sup>  |
| 10/15/2032 | &nbsp;&nbsp; 6.750% | 921000 | &nbsp;&nbsp; 955025 |
| 01/15/2034 | &nbsp;&nbsp; 6.250% | 815000 | &nbsp;&nbsp; 820066 |
| Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  | Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  | Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  | Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  |
| 06/15/2028 | &nbsp;&nbsp; 4.125% | 554000 | &nbsp;&nbsp; 543102 |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(d)</sup>  |
| 02/15/2032 | &nbsp;&nbsp; 6.375% | 1442000 | &nbsp;&nbsp; 1438763 |
| Clearway Energy Operating LLC<sup>(d)</sup>  | Clearway Energy Operating LLC<sup>(d)</sup>  | Clearway Energy Operating LLC<sup>(d)</sup>  | Clearway Energy Operating LLC<sup>(d)</sup>  |
| 03/15/2028 | &nbsp;&nbsp; 4.750% | 1529000 | &nbsp;&nbsp; 1525840 |
| 02/15/2031 | &nbsp;&nbsp; 3.750% | 1921000 | &nbsp;&nbsp; 1798419 |
| 01/15/2032 | &nbsp;&nbsp; 3.750% | 1567000 | &nbsp;&nbsp; 1442030 |
| 01/15/2034 | &nbsp;&nbsp; 5.750% | 708000 | &nbsp;&nbsp; 710585 |
| Leeward Renewable Energy Operations LLC<sup>(d)</sup>  | Leeward Renewable Energy Operations LLC<sup>(d)</sup>  | Leeward Renewable Energy Operations LLC<sup>(d)</sup>  | Leeward Renewable Energy Operations LLC<sup>(d)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 4.250% | 816000 | &nbsp;&nbsp; 786793 |
| Long Ridge Energy LLC<sup>(d)</sup>  | Long Ridge Energy LLC<sup>(d)</sup>  | Long Ridge Energy LLC<sup>(d)</sup>  | Long Ridge Energy LLC<sup>(d)</sup>  |
| 02/15/2032 | &nbsp;&nbsp; 8.750% | 1568000 | &nbsp;&nbsp; 1665213 |
| NextEra Energy Operating Partners LP<sup>(d)</sup>  | NextEra Energy Operating Partners LP<sup>(d)</sup>  | NextEra Energy Operating Partners LP<sup>(d)</sup>  | NextEra Energy Operating Partners LP<sup>(d)</sup>  |
| 09/15/2027 | &nbsp;&nbsp; 4.500% | 381000 | &nbsp;&nbsp; 377541 |
| 01/15/2029 | &nbsp;&nbsp; 7.250% | 1126000 | &nbsp;&nbsp; 1161369 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| NRG Energy, Inc.<sup>(d)</sup>  | NRG Energy, Inc.<sup>(d)</sup>  | NRG Energy, Inc.<sup>(d)</sup>  | NRG Energy, Inc.<sup>(d)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 5.250% | 2154000 | &nbsp;&nbsp; 2160078 |
| 07/15/2029 | &nbsp;&nbsp; 5.750% | 152000 | &nbsp;&nbsp; 152543 |
| 02/15/2031 | &nbsp;&nbsp; 3.625% | 1992000 | &nbsp;&nbsp; 1863482 |
| 02/01/2033 | &nbsp;&nbsp; 6.000% | 806000 | &nbsp;&nbsp; 821986 |
| 01/15/2034 | &nbsp;&nbsp; 5.750% | 1205000 | &nbsp;&nbsp; 1212997 |
| 11/01/2034 | &nbsp;&nbsp; 6.250% | 615000 | &nbsp;&nbsp; 630727 |
| 01/15/2036 | &nbsp;&nbsp; 6.000% | 1205000 | &nbsp;&nbsp; 1217105 |
| PG&E Corp.<sup>(f)</sup>  | PG&E Corp.<sup>(f)</sup>  | PG&E Corp.<sup>(f)</sup>  | PG&E Corp.<sup>(f)</sup>  |
| 03/15/2055 | &nbsp;&nbsp; 7.375% | 900000 | &nbsp;&nbsp; 928367 |
| Talen Energy Supply LLC<sup>(d)</sup>  | Talen Energy Supply LLC<sup>(d)</sup>  | Talen Energy Supply LLC<sup>(d)</sup>  | Talen Energy Supply LLC<sup>(d)</sup>  |
| 02/01/2034 | &nbsp;&nbsp; 6.250% | 1427000 | &nbsp;&nbsp; 1446696 |
| 02/01/2036 | &nbsp;&nbsp; 6.500% | 1427000 | &nbsp;&nbsp; 1462491 |
| TerraForm Power Operating LLC<sup>(d)</sup>  | TerraForm Power Operating LLC<sup>(d)</sup>  | TerraForm Power Operating LLC<sup>(d)</sup>  | TerraForm Power Operating LLC<sup>(d)</sup>  |
| 01/31/2028 | &nbsp;&nbsp; 5.000% | 3562000 | &nbsp;&nbsp; 3566457 |
| 01/15/2030 | &nbsp;&nbsp; 4.750% | 2292000 | &nbsp;&nbsp; 2224178 |
| Vistra Operations Co. LLC<sup>(d)</sup>  | Vistra Operations Co. LLC<sup>(d)</sup>  | Vistra Operations Co. LLC<sup>(d)</sup>  | Vistra Operations Co. LLC<sup>(d)</sup>  |
| 02/15/2027 | &nbsp;&nbsp; 5.625% | 1270000 | &nbsp;&nbsp; 1270444 |
| 10/15/2031 | &nbsp;&nbsp; 7.750% | 2632000 | &nbsp;&nbsp; 2786392 |
| 04/15/2032 | &nbsp;&nbsp; 6.875% | 1003000 | &nbsp;&nbsp; 1054273 |
| VoltaGrid LLC<sup>(d)</sup>  | VoltaGrid LLC<sup>(d)</sup>  | VoltaGrid LLC<sup>(d)</sup>  | VoltaGrid LLC<sup>(d)</sup>  |
| 11/01/2030 | &nbsp;&nbsp; 7.375% | 1327000 | &nbsp;&nbsp; 1344743 |
| XPLR Infrastructure Operating Partners LP<sup>(d)</sup>  | XPLR Infrastructure Operating Partners LP<sup>(d)</sup>  | XPLR Infrastructure Operating Partners LP<sup>(d)</sup>  | XPLR Infrastructure Operating Partners LP<sup>(d)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 8.375% | 1108000 | &nbsp;&nbsp; 1163619 |
| 03/15/2033 | &nbsp;&nbsp; 8.625% | 2145000 | &nbsp;&nbsp; 2250802 |
| 04/15/2034 | &nbsp;&nbsp; 7.750% | 1095000 | &nbsp;&nbsp; 1115396 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **41897522** |
| **Environmental 0.5%** | **Environmental 0.5%** | **Environmental 0.5%** | **Environmental 0.5%** |
| Clean Harbors, Inc.<sup>(d)</sup>  | Clean Harbors, Inc.<sup>(d)</sup>  | Clean Harbors, Inc.<sup>(d)</sup>  | Clean Harbors, Inc.<sup>(d)</sup>  |
| 02/01/2031 | &nbsp;&nbsp; 6.375% | 272000 | &nbsp;&nbsp; 278507 |
| GFL Environmental, Inc.<sup>(d)</sup>  | GFL Environmental, Inc.<sup>(d)</sup>  | GFL Environmental, Inc.<sup>(d)</sup>  | GFL Environmental, Inc.<sup>(d)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 6.750% | 1049000 | &nbsp;&nbsp; 1097596 |
| Waste Pro USA, Inc.<sup>(d)</sup>  | Waste Pro USA, Inc.<sup>(d)</sup>  | Waste Pro USA, Inc.<sup>(d)</sup>  | Waste Pro USA, Inc.<sup>(d)</sup>  |
| 02/01/2033 | &nbsp;&nbsp; 7.000% | 2337000 | &nbsp;&nbsp; 2412553 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3788656** |
| **Finance Companies 5.0%** | **Finance Companies 5.0%** | **Finance Companies 5.0%** | **Finance Companies 5.0%** |
| Bread Financial Holdings, Inc.<sup>(d)</sup>  | Bread Financial Holdings, Inc.<sup>(d)</sup>  | Bread Financial Holdings, Inc.<sup>(d)</sup>  | Bread Financial Holdings, Inc.<sup>(d)</sup>  |
| 05/15/2031 | &nbsp;&nbsp; 6.750% | 358000 | &nbsp;&nbsp; 368363 |
| CrossCountry Intermediate HoldCo LLC<sup>(d)</sup>  | CrossCountry Intermediate HoldCo LLC<sup>(d)</sup>  | CrossCountry Intermediate HoldCo LLC<sup>(d)</sup>  | CrossCountry Intermediate HoldCo LLC<sup>(d)</sup>  |
| 10/01/2030 | &nbsp;&nbsp; 6.500% | 826000 | &nbsp;&nbsp; 838603 |
| GGAM Finance Ltd.<sup>(d)</sup>  | GGAM Finance Ltd.<sup>(d)</sup>  | GGAM Finance Ltd.<sup>(d)</sup>  | GGAM Finance Ltd.<sup>(d)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 6.875% | 331000 | &nbsp;&nbsp; 342883 |
| 03/15/2030 | &nbsp;&nbsp; 5.875% | 2020000 | &nbsp;&nbsp; 2056034 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| goeasy Ltd.<sup>(d)</sup>  | goeasy Ltd.<sup>(d)</sup>  | goeasy Ltd.<sup>(d)</sup>  | goeasy Ltd.<sup>(d)</sup>  |
| 12/01/2028 | &nbsp;&nbsp; 9.250% | 111000 | &nbsp;&nbsp; 114193 |
| 07/01/2029 | &nbsp;&nbsp; 7.625% | 1526000 | &nbsp;&nbsp; 1511251 |
| 05/15/2030 | &nbsp;&nbsp; 6.875% | 229000 | &nbsp;&nbsp; 218208 |
| 10/01/2030 | &nbsp;&nbsp; 7.375% | 227000 | &nbsp;&nbsp; 218644 |
| 02/15/2031 | &nbsp;&nbsp; 6.875% | 532000 | &nbsp;&nbsp; 500002 |
| Navient Corp. | Navient Corp. | Navient Corp. | Navient Corp. |
| 03/15/2029 | &nbsp;&nbsp; 5.500% | 746000 | &nbsp;&nbsp; 729297 |
| 03/15/2031 | &nbsp;&nbsp; 11.500% | 628000 | &nbsp;&nbsp; 683878 |
| OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
| 05/15/2029 | &nbsp;&nbsp; 6.625% | 2205000 | &nbsp;&nbsp; 2276663 |
| 03/15/2030 | &nbsp;&nbsp; 7.875% | 1680000 | &nbsp;&nbsp; 1770958 |
| 09/15/2030 | &nbsp;&nbsp; 4.000% | 914000 | &nbsp;&nbsp; 857467 |
| 05/15/2031 | &nbsp;&nbsp; 7.500% | 1301000 | &nbsp;&nbsp; 1363524 |
| 11/15/2031 | &nbsp;&nbsp; 7.125% | 548000 | &nbsp;&nbsp; 567950 |
| 09/15/2032 | &nbsp;&nbsp; 7.125% | 480000 | &nbsp;&nbsp; 497200 |
| 03/15/2033 | &nbsp;&nbsp; 6.500% | 1984000 | &nbsp;&nbsp; 1994731 |
| 09/15/2033 | &nbsp;&nbsp; 6.750% | 1487000 | &nbsp;&nbsp; 1505864 |
| Provident Funding Associates LP/PFG Finance Corp.<sup>(d)</sup>  | Provident Funding Associates LP/PFG Finance Corp.<sup>(d)</sup>  | Provident Funding Associates LP/PFG Finance Corp.<sup>(d)</sup>  | Provident Funding Associates LP/PFG Finance Corp.<sup>(d)</sup>  |
| 09/15/2029 | &nbsp;&nbsp; 9.750% | 3012000 | &nbsp;&nbsp; 3158403 |
| Rocket Cos, Inc.<sup>(d)</sup>  | Rocket Cos, Inc.<sup>(d)</sup>  | Rocket Cos, Inc.<sup>(d)</sup>  | Rocket Cos, Inc.<sup>(d)</sup>  |
| 08/01/2030 | &nbsp;&nbsp; 6.125% | 698000 | &nbsp;&nbsp; 714870 |
| 08/01/2033 | &nbsp;&nbsp; 6.375% | 889000 | &nbsp;&nbsp; 923400 |
| Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(d)</sup>  | Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(d)</sup>  | Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(d)</sup>  | Rocket Mortgage LLC/Co-Issuer, Inc.<sup>(d)</sup>  |
| 03/01/2031 | &nbsp;&nbsp; 3.875% | 2761000 | &nbsp;&nbsp; 2589521 |
| 10/15/2033 | &nbsp;&nbsp; 4.000% | 3807000 | &nbsp;&nbsp; 3489696 |
| Springleaf Finance Corp. | Springleaf Finance Corp. | Springleaf Finance Corp. | Springleaf Finance Corp. |
| 11/15/2029 | &nbsp;&nbsp; 5.375% | 158000 | &nbsp;&nbsp; 157582 |
| United Wholesale Mortgage LLC<sup>(d)</sup>  | United Wholesale Mortgage LLC<sup>(d)</sup>  | United Wholesale Mortgage LLC<sup>(d)</sup>  | United Wholesale Mortgage LLC<sup>(d)</sup>  |
| 06/15/2027 | &nbsp;&nbsp; 5.750% | 770000 | &nbsp;&nbsp; 771207 |
| 04/15/2029 | &nbsp;&nbsp; 5.500% | 1871000 | &nbsp;&nbsp; 1848864 |
| UWM Holdings LLC<sup>(d)</sup>  | UWM Holdings LLC<sup>(d)</sup>  | UWM Holdings LLC<sup>(d)</sup>  | UWM Holdings LLC<sup>(d)</sup>  |
| 02/01/2030 | &nbsp;&nbsp; 6.625% | 1732000 | &nbsp;&nbsp; 1746563 |
| 03/15/2031 | &nbsp;&nbsp; 6.250% | 2212000 | &nbsp;&nbsp; 2198050 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **36013869** |
| **Food and Beverage 2.1%** | **Food and Beverage 2.1%** | **Food and Beverage 2.1%** | **Food and Beverage 2.1%** |
| Darling Ingredients, Inc.<sup>(d)</sup>  | Darling Ingredients, Inc.<sup>(d)</sup>  | Darling Ingredients, Inc.<sup>(d)</sup>  | Darling Ingredients, Inc.<sup>(d)</sup>  |
| 04/15/2027 | &nbsp;&nbsp; 5.250% | 1872000 | &nbsp;&nbsp; 1872579 |
| 06/15/2030 | &nbsp;&nbsp; 6.000% | 1342000 | &nbsp;&nbsp; 1360004 |
| Performance Food Group, Inc.<sup>(d)</sup>  | Performance Food Group, Inc.<sup>(d)</sup>  | Performance Food Group, Inc.<sup>(d)</sup>  | Performance Food Group, Inc.<sup>(d)</sup>  |
| 09/15/2032 | &nbsp;&nbsp; 6.125% | 739000 | &nbsp;&nbsp; 759924 |
| Post Holdings, Inc.<sup>(d)</sup>  | Post Holdings, Inc.<sup>(d)</sup>  | Post Holdings, Inc.<sup>(d)</sup>  | Post Holdings, Inc.<sup>(d)</sup>  |
| 09/15/2031 | &nbsp;&nbsp; 4.500% | 1555000 | &nbsp;&nbsp; 1472272 |
| 02/15/2032 | &nbsp;&nbsp; 6.250% | 2416000 | &nbsp;&nbsp; 2483177 |
| 03/01/2033 | &nbsp;&nbsp; 6.375% | 1195000 | &nbsp;&nbsp; 1204838 |
| 10/15/2034 | &nbsp;&nbsp; 6.250% | 827000 | &nbsp;&nbsp; 833439 |
| 03/15/2036 | &nbsp;&nbsp; 6.500% | 748000 | &nbsp;&nbsp; 748099 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(d)</sup>  | Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(d)</sup>  | Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(d)</sup>  | Primo Water Holdings, Inc./Triton Water Holdings, Inc.<sup>(d)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 6.250% | 695000 | &nbsp;&nbsp; 696109 |
| 04/30/2029 | &nbsp;&nbsp; 4.375% | 761000 | &nbsp;&nbsp; 743971 |
| Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(d)</sup>  | Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(d)</sup>  | Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(d)</sup>  | Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed<sup>(d)</sup>  |
| 03/01/2029 | &nbsp;&nbsp; 4.625% | 1524000 | &nbsp;&nbsp; 1468934 |
| US Foods, Inc.<sup>(d)</sup>  | US Foods, Inc.<sup>(d)</sup>  | US Foods, Inc.<sup>(d)</sup>  | US Foods, Inc.<sup>(d)</sup>  |
| 02/15/2029 | &nbsp;&nbsp; 4.750% | 730000 | &nbsp;&nbsp; 726797 |
| 01/15/2032 | &nbsp;&nbsp; 7.250% | 809000 | &nbsp;&nbsp; 848643 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15218786** |
| **Gaming 3.2%** | **Gaming 3.2%** | **Gaming 3.2%** | **Gaming 3.2%** |
| Caesars Entertainment, Inc.<sup>(d)</sup>  | Caesars Entertainment, Inc.<sup>(d)</sup>  | Caesars Entertainment, Inc.<sup>(d)</sup>  | Caesars Entertainment, Inc.<sup>(d)</sup>  |
| 10/15/2029 | &nbsp;&nbsp; 4.625% | 775000 | &nbsp;&nbsp; 744059 |
| 02/15/2030 | &nbsp;&nbsp; 7.000% | 670000 | &nbsp;&nbsp; 692033 |
| 02/15/2032 | &nbsp;&nbsp; 6.500% | 3522000 | &nbsp;&nbsp; 3604127 |
| 10/15/2032 | &nbsp;&nbsp; 6.000% | 1932000 | &nbsp;&nbsp; 1878334 |
| CDI Escrow Issuer, Inc.<sup>(d)</sup>  | CDI Escrow Issuer, Inc.<sup>(d)</sup>  | CDI Escrow Issuer, Inc.<sup>(d)</sup>  | CDI Escrow Issuer, Inc.<sup>(d)</sup>  |
| 04/01/2030 | &nbsp;&nbsp; 5.750% | 907000 | &nbsp;&nbsp; 911996 |
| Churchill Downs, Inc.<sup>(d)</sup>  | Churchill Downs, Inc.<sup>(d)</sup>  | Churchill Downs, Inc.<sup>(d)</sup>  | Churchill Downs, Inc.<sup>(d)</sup>  |
| 05/01/2031 | &nbsp;&nbsp; 6.750% | 1360000 | &nbsp;&nbsp; 1402750 |
| Light & Wonder International, Inc.<sup>(d)</sup>  | Light & Wonder International, Inc.<sup>(d)</sup>  | Light & Wonder International, Inc.<sup>(d)</sup>  | Light & Wonder International, Inc.<sup>(d)</sup>  |
| 09/01/2031 | &nbsp;&nbsp; 7.500% | 949000 | &nbsp;&nbsp; 995461 |
| 10/01/2033 | &nbsp;&nbsp; 6.250% | 1497000 | &nbsp;&nbsp; 1517728 |
| Midwest Gaming Borrower LLC<sup>(d)</sup>  | Midwest Gaming Borrower LLC<sup>(d)</sup>  | Midwest Gaming Borrower LLC<sup>(d)</sup>  | Midwest Gaming Borrower LLC<sup>(d)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 4.875% | 732000 | &nbsp;&nbsp; 718955 |
| Penn National Gaming, Inc.<sup>(d)</sup>  | Penn National Gaming, Inc.<sup>(d)</sup>  | Penn National Gaming, Inc.<sup>(d)</sup>  | Penn National Gaming, Inc.<sup>(d)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 4.125% | 2735000 | &nbsp;&nbsp; 2540759 |
| Rivers Enterprise Borrower LLC/Finance Corp.<sup>(d)</sup>  | Rivers Enterprise Borrower LLC/Finance Corp.<sup>(d)</sup>  | Rivers Enterprise Borrower LLC/Finance Corp.<sup>(d)</sup>  | Rivers Enterprise Borrower LLC/Finance Corp.<sup>(d)</sup>  |
| 02/01/2033 | &nbsp;&nbsp; 6.625% | 2289000 | &nbsp;&nbsp; 2329526 |
| Rivers Enterprise Lender LLC/Corp.<sup>(d)</sup>  | Rivers Enterprise Lender LLC/Corp.<sup>(d)</sup>  | Rivers Enterprise Lender LLC/Corp.<sup>(d)</sup>  | Rivers Enterprise Lender LLC/Corp.<sup>(d)</sup>  |
| 10/15/2030 | &nbsp;&nbsp; 6.250% | 1080000 | &nbsp;&nbsp; 1096571 |
| Scientific Games Holdings LP/US FinCo, Inc.<sup>(d)</sup>  | Scientific Games Holdings LP/US FinCo, Inc.<sup>(d)</sup>  | Scientific Games Holdings LP/US FinCo, Inc.<sup>(d)</sup>  | Scientific Games Holdings LP/US FinCo, Inc.<sup>(d)</sup>  |
| 03/01/2030 | &nbsp;&nbsp; 6.625% | 3141000 | &nbsp;&nbsp; 2869644 |
| Voyager Parent LLC<sup>(d)</sup>  | Voyager Parent LLC<sup>(d)</sup>  | Voyager Parent LLC<sup>(d)</sup>  | Voyager Parent LLC<sup>(d)</sup>  |
| 07/01/2032 | &nbsp;&nbsp; 9.250% | 1653000 | &nbsp;&nbsp; 1757324 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **23059267** |
| **Health Care 4.8%** | **Health Care 4.8%** | **Health Care 4.8%** | **Health Care 4.8%** |
| Acadia Healthcare Co., Inc.<sup>(d)</sup>  | Acadia Healthcare Co., Inc.<sup>(d)</sup>  | Acadia Healthcare Co., Inc.<sup>(d)</sup>  | Acadia Healthcare Co., Inc.<sup>(d)</sup>  |
| 07/01/2028 | &nbsp;&nbsp; 5.500% | 360000 | &nbsp;&nbsp; 355655 |
| 04/15/2029 | &nbsp;&nbsp; 5.000% | 2375000 | &nbsp;&nbsp; 2280255 |
| 03/15/2033 | &nbsp;&nbsp; 7.375% | 1555000 | &nbsp;&nbsp; 1535952 |
| Avantor Funding, Inc.<sup>(d)</sup>  | Avantor Funding, Inc.<sup>(d)</sup>  | Avantor Funding, Inc.<sup>(d)</sup>  | Avantor Funding, Inc.<sup>(d)</sup>  |
| 11/01/2029 | &nbsp;&nbsp; 3.875% | 2677000 | &nbsp;&nbsp; 2564984 |
| Bausch & Lomb Escrow Corp.<sup>(d)</sup>  | Bausch & Lomb Escrow Corp.<sup>(d)</sup>  | Bausch & Lomb Escrow Corp.<sup>(d)</sup>  | Bausch & Lomb Escrow Corp.<sup>(d)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 8.375% | 1375000 | &nbsp;&nbsp; 1434780 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Charles River Laboratories International, Inc.<sup>(d)</sup>  | Charles River Laboratories International, Inc.<sup>(d)</sup>  | Charles River Laboratories International, Inc.<sup>(d)</sup>  | Charles River Laboratories International, Inc.<sup>(d)</sup>  |
| 05/01/2028 | &nbsp;&nbsp; 4.250% | 884000 | &nbsp;&nbsp; 872755 |
| 03/15/2029 | &nbsp;&nbsp; 3.750% | 923000 | &nbsp;&nbsp; 890737 |
| 03/15/2031 | &nbsp;&nbsp; 4.000% | 775000 | &nbsp;&nbsp; 734638 |
| CHS/Community Health Systems, Inc.<sup>(d)</sup>  | CHS/Community Health Systems, Inc.<sup>(d)</sup>  | CHS/Community Health Systems, Inc.<sup>(d)</sup>  | CHS/Community Health Systems, Inc.<sup>(d)</sup>  |
| 05/15/2030 | &nbsp;&nbsp; 5.250% | 2320000 | &nbsp;&nbsp; 2187071 |
| 02/15/2031 | &nbsp;&nbsp; 4.750% | 244000 | &nbsp;&nbsp; 218928 |
| 01/15/2032 | &nbsp;&nbsp; 10.875% | 706000 | &nbsp;&nbsp; 760645 |
| Concentra Escrow Issuer Corp.<sup>(d)</sup>  | Concentra Escrow Issuer Corp.<sup>(d)</sup>  | Concentra Escrow Issuer Corp.<sup>(d)</sup>  | Concentra Escrow Issuer Corp.<sup>(d)</sup>  |
| 07/15/2032 | &nbsp;&nbsp; 6.875% | 1188000 | &nbsp;&nbsp; 1244834 |
| DaVita, Inc.<sup>(d)</sup>  | DaVita, Inc.<sup>(d)</sup>  | DaVita, Inc.<sup>(d)</sup>  | DaVita, Inc.<sup>(d)</sup>  |
| 06/01/2030 | &nbsp;&nbsp; 4.625% | 880000 | &nbsp;&nbsp; 847839 |
| 07/15/2033 | &nbsp;&nbsp; 6.750% | 1043000 | &nbsp;&nbsp; 1069542 |
| IQVIA, Inc.<sup>(d)</sup>  | IQVIA, Inc.<sup>(d)</sup>  | IQVIA, Inc.<sup>(d)</sup>  | IQVIA, Inc.<sup>(d)</sup>  |
| 05/15/2027 | &nbsp;&nbsp; 5.000% | 731000 | &nbsp;&nbsp; 731196 |
| 05/15/2030 | &nbsp;&nbsp; 6.500% | 702000 | &nbsp;&nbsp; 727874 |
| 06/01/2032 | &nbsp;&nbsp; 6.250% | 1651000 | &nbsp;&nbsp; 1717997 |
| LifePoint Health, Inc.<sup>(d)</sup>  | LifePoint Health, Inc.<sup>(d)</sup>  | LifePoint Health, Inc.<sup>(d)</sup>  | LifePoint Health, Inc.<sup>(d)</sup>  |
| 10/15/2030 | &nbsp;&nbsp; 11.000% | 493000 | &nbsp;&nbsp; 538132 |
| Medline Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  | Medline Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  | Medline Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  | Medline Borrower LP/Co-Issuer, Inc.<sup>(d)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 6.250% | 1523000 | &nbsp;&nbsp; 1572023 |
| Mozart Debt Merger Sub, Inc.<sup>(d)</sup>  | Mozart Debt Merger Sub, Inc.<sup>(d)</sup>  | Mozart Debt Merger Sub, Inc.<sup>(d)</sup>  | Mozart Debt Merger Sub, Inc.<sup>(d)</sup>  |
| 10/01/2029 | &nbsp;&nbsp; 5.250% | 2894000 | &nbsp;&nbsp; 2898753 |
| Select Medical Corp.<sup>(d)</sup>  | Select Medical Corp.<sup>(d)</sup>  | Select Medical Corp.<sup>(d)</sup>  | Select Medical Corp.<sup>(d)</sup>  |
| 12/01/2032 | &nbsp;&nbsp; 6.250% | 375000 | &nbsp;&nbsp; 364008 |
| Star Parent, Inc.<sup>(d)</sup>  | Star Parent, Inc.<sup>(d)</sup>  | Star Parent, Inc.<sup>(d)</sup>  | Star Parent, Inc.<sup>(d)</sup>  |
| 10/01/2030 | &nbsp;&nbsp; 9.000% | 2758000 | &nbsp;&nbsp; 2922794 |
| Tenet Healthcare Corp. | Tenet Healthcare Corp. | Tenet Healthcare Corp. | Tenet Healthcare Corp. |
| 01/15/2030 | &nbsp;&nbsp; 4.375% | 2104000 | &nbsp;&nbsp; 2068199 |
| Tenet Healthcare Corp.<sup>(d)</sup>  | Tenet Healthcare Corp.<sup>(d)</sup>  | Tenet Healthcare Corp.<sup>(d)</sup>  | Tenet Healthcare Corp.<sup>(d)</sup>  |
| 11/15/2032 | &nbsp;&nbsp; 5.500% | 3238000 | &nbsp;&nbsp; 3272996 |
| 11/15/2033 | &nbsp;&nbsp; 6.000% | 1154000 | &nbsp;&nbsp; 1187189 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **34999776** |
| **Independent Energy 4.0%** | **Independent Energy 4.0%** | **Independent Energy 4.0%** | **Independent Energy 4.0%** |
| Civitas Resources, Inc.<sup>(d)</sup>  | Civitas Resources, Inc.<sup>(d)</sup>  | Civitas Resources, Inc.<sup>(d)</sup>  | Civitas Resources, Inc.<sup>(d)</sup>  |
| 07/01/2028 | &nbsp;&nbsp; 8.375% | 700000 | &nbsp;&nbsp; 723825 |
| 11/01/2030 | &nbsp;&nbsp; 8.625% | 701000 | &nbsp;&nbsp; 741807 |
| 07/01/2031 | &nbsp;&nbsp; 8.750% | 715000 | &nbsp;&nbsp; 751104 |
| 06/15/2033 | &nbsp;&nbsp; 9.625% | 3181000 | &nbsp;&nbsp; 3478431 |
| CNX Resources Corp.<sup>(d)</sup>  | CNX Resources Corp.<sup>(d)</sup>  | CNX Resources Corp.<sup>(d)</sup>  | CNX Resources Corp.<sup>(d)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 6.000% | 1450000 | &nbsp;&nbsp; 1458959 |
| 03/01/2032 | &nbsp;&nbsp; 7.250% | 999000 | &nbsp;&nbsp; 1045588 |
| Colgate Energy Partners III LLC<sup>(d)</sup>  | Colgate Energy Partners III LLC<sup>(d)</sup>  | Colgate Energy Partners III LLC<sup>(d)</sup>  | Colgate Energy Partners III LLC<sup>(d)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 5.875% | 2429000 | &nbsp;&nbsp; 2438908 |
| Comstock Resources, Inc.<sup>(d)</sup>  | Comstock Resources, Inc.<sup>(d)</sup>  | Comstock Resources, Inc.<sup>(d)</sup>  | Comstock Resources, Inc.<sup>(d)</sup>  |
| 03/01/2029 | &nbsp;&nbsp; 6.750% | 750000 | &nbsp;&nbsp; 752799 |
| 01/15/2030 | &nbsp;&nbsp; 5.875% | 434000 | &nbsp;&nbsp; 423641 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Hilcorp Energy I LP/Finance Co.<sup>(d)</sup>  | Hilcorp Energy I LP/Finance Co.<sup>(d)</sup>  | Hilcorp Energy I LP/Finance Co.<sup>(d)</sup>  | Hilcorp Energy I LP/Finance Co.<sup>(d)</sup>  |
| 11/01/2028 | &nbsp;&nbsp; 6.250% | 1425000 | &nbsp;&nbsp; 1436216 |
| 02/01/2029 | &nbsp;&nbsp; 5.750% | 1110000 | &nbsp;&nbsp; 1110049 |
| 11/01/2033 | &nbsp;&nbsp; 8.375% | 969000 | &nbsp;&nbsp; 1005611 |
| 02/15/2035 | &nbsp;&nbsp; 7.250% | 2496000 | &nbsp;&nbsp; 2414554 |
| Matador Resources Co.<sup>(d)</sup>  | Matador Resources Co.<sup>(d)</sup>  | Matador Resources Co.<sup>(d)</sup>  | Matador Resources Co.<sup>(d)</sup>  |
| 04/15/2028 | &nbsp;&nbsp; 6.875% | 872000 | &nbsp;&nbsp; 890112 |
| 04/15/2032 | &nbsp;&nbsp; 6.500% | 1427000 | &nbsp;&nbsp; 1453353 |
| 04/15/2033 | &nbsp;&nbsp; 6.250% | 891000 | &nbsp;&nbsp; 898868 |
| Permian Resources Operating LLC<sup>(d)</sup>  | Permian Resources Operating LLC<sup>(d)</sup>  | Permian Resources Operating LLC<sup>(d)</sup>  | Permian Resources Operating LLC<sup>(d)</sup>  |
| 04/15/2027 | &nbsp;&nbsp; 8.000% | 928000 | &nbsp;&nbsp; 937279 |
| 01/15/2032 | &nbsp;&nbsp; 7.000% | 1901000 | &nbsp;&nbsp; 1990942 |
| 02/01/2033 | &nbsp;&nbsp; 6.250% | 955000 | &nbsp;&nbsp; 984999 |
| SM Energy Co. | SM Energy Co. | SM Energy Co. | SM Energy Co. |
| 01/15/2027 | &nbsp;&nbsp; 6.625% | 1485000 | &nbsp;&nbsp; 1486927 |
| 07/15/2028 | &nbsp;&nbsp; 6.500% | 741000 | &nbsp;&nbsp; 749287 |
| SM Energy Co.<sup>(d)</sup>  | SM Energy Co.<sup>(d)</sup>  | SM Energy Co.<sup>(d)</sup>  | SM Energy Co.<sup>(d)</sup>  |
| 08/01/2029 | &nbsp;&nbsp; 6.750% | 937000 | &nbsp;&nbsp; 947702 |
| 08/01/2032 | &nbsp;&nbsp; 7.000% | 1082000 | &nbsp;&nbsp; 1084762 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **29205723** |
| **Leisure 3.8%** | **Leisure 3.8%** | **Leisure 3.8%** | **Leisure 3.8%** |
| Boyne USA, Inc.<sup>(d)</sup>  | Boyne USA, Inc.<sup>(d)</sup>  | Boyne USA, Inc.<sup>(d)</sup>  | Boyne USA, Inc.<sup>(d)</sup>  |
| 05/15/2029 | &nbsp;&nbsp; 4.750% | 1105000 | &nbsp;&nbsp; 1090732 |
| Carnival Corp.<sup>(d)</sup>  | Carnival Corp.<sup>(d)</sup>  | Carnival Corp.<sup>(d)</sup>  | Carnival Corp.<sup>(d)</sup>  |
| 03/15/2030 | &nbsp;&nbsp; 5.750% | 1628000 | &nbsp;&nbsp; 1675546 |
| 08/01/2032 | &nbsp;&nbsp; 5.750% | 2793000 | &nbsp;&nbsp; 2872571 |
| 02/15/2033 | &nbsp;&nbsp; 6.125% | 1597000 | &nbsp;&nbsp; 1642983 |
| Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium <br> Op | Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium <br> Op | Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium <br> Op | Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium <br> Op |
| 04/15/2027 | &nbsp;&nbsp; 5.375% | 1475000 | &nbsp;&nbsp; 1475000 |
| 10/01/2028 | &nbsp;&nbsp; 6.500% | 740000 | &nbsp;&nbsp; 738539 |
| Cinemark USA, Inc.<sup>(d)</sup>  | Cinemark USA, Inc.<sup>(d)</sup>  | Cinemark USA, Inc.<sup>(d)</sup>  | Cinemark USA, Inc.<sup>(d)</sup>  |
| 07/15/2028 | &nbsp;&nbsp; 5.250% | 941000 | &nbsp;&nbsp; 939970 |
| NCL Corp., Ltd.<sup>(d)</sup>  | NCL Corp., Ltd.<sup>(d)</sup>  | NCL Corp., Ltd.<sup>(d)</sup>  | NCL Corp., Ltd.<sup>(d)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 5.875% | 1976000 | &nbsp;&nbsp; 1980664 |
| 02/01/2032 | &nbsp;&nbsp; 6.750% | 1593000 | &nbsp;&nbsp; 1633065 |
| 09/15/2033 | &nbsp;&nbsp; 6.250% | 717000 | &nbsp;&nbsp; 721083 |
| Six Flags Entertainment Corp.<sup>(d)</sup>  | Six Flags Entertainment Corp.<sup>(d)</sup>  | Six Flags Entertainment Corp.<sup>(d)</sup>  | Six Flags Entertainment Corp.<sup>(d)</sup>  |
| 05/15/2031 | &nbsp;&nbsp; 7.250% | 3557000 | &nbsp;&nbsp; 3511705 |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium <br> Operations LLC<sup>(d)</sup>  | Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium <br> Operations LLC<sup>(d)</sup>  | Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium <br> Operations LLC<sup>(d)</sup>  | Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium <br> Operations LLC<sup>(d)</sup>  |
| 01/15/2032 | &nbsp;&nbsp; 8.625% | 692000 | &nbsp;&nbsp; 706168 |
| Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(d)</sup>  | Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(d)</sup>  | Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(d)</sup>  | Six Flags Entertainment Corp./Theme Parks, Inc.<sup>(d)</sup>  |
| 05/01/2032 | &nbsp;&nbsp; 6.625% | 2079000 | &nbsp;&nbsp; 2123703 |
| Vail Resorts, Inc.<sup>(d)</sup>  | Vail Resorts, Inc.<sup>(d)</sup>  | Vail Resorts, Inc.<sup>(d)</sup>  | Vail Resorts, Inc.<sup>(d)</sup>  |
| 05/15/2032 | &nbsp;&nbsp; 6.500% | 1108000 | &nbsp;&nbsp; 1147992 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Viking Cruises Ltd.<sup>(d)</sup>  | Viking Cruises Ltd.<sup>(d)</sup>  | Viking Cruises Ltd.<sup>(d)</sup>  | Viking Cruises Ltd.<sup>(d)</sup>  |
| 07/15/2031 | &nbsp;&nbsp; 9.125% | 2166000 | &nbsp;&nbsp; 2309415 |
| 10/15/2033 | &nbsp;&nbsp; 5.875% | 2530000 | &nbsp;&nbsp; 2565183 |
| VOC Escrow Ltd.<sup>(d)</sup>  | VOC Escrow Ltd.<sup>(d)</sup>  | VOC Escrow Ltd.<sup>(d)</sup>  | VOC Escrow Ltd.<sup>(d)</sup>  |
| 02/15/2028 | &nbsp;&nbsp; 5.000% | 816000 | &nbsp;&nbsp; 814940 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **27949259** |
| **Lodging 1.2%** | **Lodging 1.2%** | **Lodging 1.2%** | **Lodging 1.2%** |
| Hilton Domestic Operating Co., Inc.<sup>(d)</sup>  | Hilton Domestic Operating Co., Inc.<sup>(d)</sup>  | Hilton Domestic Operating Co., Inc.<sup>(d)</sup>  | Hilton Domestic Operating Co., Inc.<sup>(d)</sup>  |
| 05/01/2031 | &nbsp;&nbsp; 4.000% | 770000 | &nbsp;&nbsp; 735134 |
| 03/15/2033 | &nbsp;&nbsp; 5.875% | 758000 | &nbsp;&nbsp; 777860 |
| 09/15/2033 | &nbsp;&nbsp; 5.750% | 762000 | &nbsp;&nbsp; 776574 |
| Hilton Grand Vacations Borrower Escrow LLC<sup>(d)</sup>  | Hilton Grand Vacations Borrower Escrow LLC<sup>(d)</sup>  | Hilton Grand Vacations Borrower Escrow LLC<sup>(d)</sup>  | Hilton Grand Vacations Borrower Escrow LLC<sup>(d)</sup>  |
| 07/01/2031 | &nbsp;&nbsp; 4.875% | 955000 | &nbsp;&nbsp; 891728 |
| 01/15/2032 | &nbsp;&nbsp; 6.625% | 2406000 | &nbsp;&nbsp; 2460144 |
| Marriott Ownership Resorts, Inc.<sup>(d)</sup>  | Marriott Ownership Resorts, Inc.<sup>(d)</sup>  | Marriott Ownership Resorts, Inc.<sup>(d)</sup>  | Marriott Ownership Resorts, Inc.<sup>(d)</sup>  |
| 10/01/2033 | &nbsp;&nbsp; 6.500% | 2607000 | &nbsp;&nbsp; 2479004 |
| Travel + Leisure Co.<sup>(d)</sup>  | Travel + Leisure Co.<sup>(d)</sup>  | Travel + Leisure Co.<sup>(d)</sup>  | Travel + Leisure Co.<sup>(d)</sup>  |
| 09/01/2033 | &nbsp;&nbsp; 6.125% | 350000 | &nbsp;&nbsp; 354006 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8474450** |
| **Media and Entertainment 3.1%** | **Media and Entertainment 3.1%** | **Media and Entertainment 3.1%** | **Media and Entertainment 3.1%** |
| Clear Channel Outdoor Holdings, Inc.<sup>(d)</sup>  | Clear Channel Outdoor Holdings, Inc.<sup>(d)</sup>  | Clear Channel Outdoor Holdings, Inc.<sup>(d)</sup>  | Clear Channel Outdoor Holdings, Inc.<sup>(d)</sup>  |
| 04/01/2030 | &nbsp;&nbsp; 7.875% | 1795000 | &nbsp;&nbsp; 1888958 |
| 02/15/2031 | &nbsp;&nbsp; 7.125% | 1314000 | &nbsp;&nbsp; 1369708 |
| 03/15/2033 | &nbsp;&nbsp; 7.500% | 1337000 | &nbsp;&nbsp; 1420216 |
| Gray Media, Inc.<sup>(d)</sup>  | Gray Media, Inc.<sup>(d)</sup>  | Gray Media, Inc.<sup>(d)</sup>  | Gray Media, Inc.<sup>(d)</sup>  |
| 07/15/2032 | &nbsp;&nbsp; 9.625% | 710000 | &nbsp;&nbsp; 731771 |
| 08/15/2033 | &nbsp;&nbsp; 7.250% | 923000 | &nbsp;&nbsp; 944887 |
| McGraw-Hill Education, Inc.<sup>(d)</sup>  | McGraw-Hill Education, Inc.<sup>(d)</sup>  | McGraw-Hill Education, Inc.<sup>(d)</sup>  | McGraw-Hill Education, Inc.<sup>(d)</sup>  |
| 09/01/2031 | &nbsp;&nbsp; 7.375% | 1616000 | &nbsp;&nbsp; 1706944 |
| Outfront Media Capital LLC/Corp.<sup>(d)</sup>  | Outfront Media Capital LLC/Corp.<sup>(d)</sup>  | Outfront Media Capital LLC/Corp.<sup>(d)</sup>  | Outfront Media Capital LLC/Corp.<sup>(d)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 4.250% | 1222000 | &nbsp;&nbsp; 1192888 |
| 03/15/2030 | &nbsp;&nbsp; 4.625% | 373000 | &nbsp;&nbsp; 364288 |
| 02/15/2031 | &nbsp;&nbsp; 7.375% | 973000 | &nbsp;&nbsp; 1025541 |
| Roblox Corp.<sup>(d)</sup>  | Roblox Corp.<sup>(d)</sup>  | Roblox Corp.<sup>(d)</sup>  | Roblox Corp.<sup>(d)</sup>  |
| 05/01/2030 | &nbsp;&nbsp; 3.875% | 756000 | &nbsp;&nbsp; 723867 |
| Snap, Inc.<sup>(d)</sup>  | Snap, Inc.<sup>(d)</sup>  | Snap, Inc.<sup>(d)</sup>  | Snap, Inc.<sup>(d)</sup>  |
| 03/01/2033 | &nbsp;&nbsp; 6.875% | 3468000 | &nbsp;&nbsp; 3558017 |
| 03/15/2034 | &nbsp;&nbsp; 6.875% | 1889000 | &nbsp;&nbsp; 1929534 |
| Univision Communications, Inc.<sup>(d)</sup>  | Univision Communications, Inc.<sup>(d)</sup>  | Univision Communications, Inc.<sup>(d)</sup>  | Univision Communications, Inc.<sup>(d)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 8.000% | 722000 | &nbsp;&nbsp; 745346 |
| 06/30/2030 | &nbsp;&nbsp; 7.375% | 1399000 | &nbsp;&nbsp; 1417011 |
| WarnerMedia Holdings, Inc. | WarnerMedia Holdings, Inc. | WarnerMedia Holdings, Inc. | WarnerMedia Holdings, Inc. |
| 03/15/2032 | &nbsp;&nbsp; 4.279% | 1095000 | &nbsp;&nbsp; 963398 |
| 03/15/2042 | &nbsp;&nbsp; 5.050% | 3233000 | &nbsp;&nbsp; 2284056 |
| 03/15/2052 | &nbsp;&nbsp; 5.141% | 575000 | &nbsp;&nbsp; 381155 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **22647585** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Metals and Mining 3.3%** | **Metals and Mining 3.3%** | **Metals and Mining 3.3%** | **Metals and Mining 3.3%** |
| Alcoa Nederland Holding BV<sup>(d)</sup>  | Alcoa Nederland Holding BV<sup>(d)</sup>  | Alcoa Nederland Holding BV<sup>(d)</sup>  | Alcoa Nederland Holding BV<sup>(d)</sup>  |
| 03/15/2031 | &nbsp;&nbsp; 7.125% | 774000 | &nbsp;&nbsp; 818992 |
| Carpenter Technology Corp.<sup>(d)</sup>  | Carpenter Technology Corp.<sup>(d)</sup>  | Carpenter Technology Corp.<sup>(d)</sup>  | Carpenter Technology Corp.<sup>(d)</sup>  |
| 03/01/2034 | &nbsp;&nbsp; 5.625% | 1088000 | &nbsp;&nbsp; 1105424 |
| Cleveland-Cliffs, Inc.<sup>(d)</sup>  | Cleveland-Cliffs, Inc.<sup>(d)</sup>  | Cleveland-Cliffs, Inc.<sup>(d)</sup>  | Cleveland-Cliffs, Inc.<sup>(d)</sup>  |
| 11/01/2029 | &nbsp;&nbsp; 6.875% | 578000 | &nbsp;&nbsp; 600846 |
| 03/15/2032 | &nbsp;&nbsp; 7.000% | 212000 | &nbsp;&nbsp; 217621 |
| 05/01/2033 | &nbsp;&nbsp; 7.375% | 228000 | &nbsp;&nbsp; 237692 |
| Compass Minerals International, Inc.<sup>(d)</sup>  | Compass Minerals International, Inc.<sup>(d)</sup>  | Compass Minerals International, Inc.<sup>(d)</sup>  | Compass Minerals International, Inc.<sup>(d)</sup>  |
| 07/01/2030 | &nbsp;&nbsp; 8.000% | 1036000 | &nbsp;&nbsp; 1098764 |
| Constellium SE<sup>(d)</sup>  | Constellium SE<sup>(d)</sup>  | Constellium SE<sup>(d)</sup>  | Constellium SE<sup>(d)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 3.750% | 2653000 | &nbsp;&nbsp; 2565342 |
| 08/15/2032 | &nbsp;&nbsp; 6.375% | 1657000 | &nbsp;&nbsp; 1713453 |
| Hudbay Minerals, Inc.<sup>(d)</sup>  | Hudbay Minerals, Inc.<sup>(d)</sup>  | Hudbay Minerals, Inc.<sup>(d)</sup>  | Hudbay Minerals, Inc.<sup>(d)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 6.125% | 4310000 | &nbsp;&nbsp; 4357983 |
| Kaiser Aluminum Corp.<sup>(d)</sup>  | Kaiser Aluminum Corp.<sup>(d)</sup>  | Kaiser Aluminum Corp.<sup>(d)</sup>  | Kaiser Aluminum Corp.<sup>(d)</sup>  |
| 06/01/2031 | &nbsp;&nbsp; 4.500% | 3185000 | &nbsp;&nbsp; 3075212 |
| 03/01/2034 | &nbsp;&nbsp; 5.875% | 2569000 | &nbsp;&nbsp; 2590595 |
| Novelis Corp.<sup>(d)</sup>  | Novelis Corp.<sup>(d)</sup>  | Novelis Corp.<sup>(d)</sup>  | Novelis Corp.<sup>(d)</sup>  |
| 01/30/2030 | &nbsp;&nbsp; 4.750% | 2112000 | &nbsp;&nbsp; 2046402 |
| 08/15/2031 | &nbsp;&nbsp; 3.875% | 1870000 | &nbsp;&nbsp; 1711986 |
| 08/15/2033 | &nbsp;&nbsp; 6.375% | 1117000 | &nbsp;&nbsp; 1138211 |
| Novelis, Inc.<sup>(d)</sup>  | Novelis, Inc.<sup>(d)</sup>  | Novelis, Inc.<sup>(d)</sup>  | Novelis, Inc.<sup>(d)</sup>  |
| 01/30/2030 | &nbsp;&nbsp; 6.875% | 554000 | &nbsp;&nbsp; 574622 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **23853145** |
| **Midstream 6.3%** | **Midstream 6.3%** | **Midstream 6.3%** | **Midstream 6.3%** |
| AmeriGas Partners LP/Finance Corp.<sup>(d)</sup>  | AmeriGas Partners LP/Finance Corp.<sup>(d)</sup>  | AmeriGas Partners LP/Finance Corp.<sup>(d)</sup>  | AmeriGas Partners LP/Finance Corp.<sup>(d)</sup>  |
| 06/01/2030 | &nbsp;&nbsp; 9.500% | 1578000 | &nbsp;&nbsp; 1692081 |
| Antero Midstream Partners LP/Finance Corp.<sup>(d)</sup>  | Antero Midstream Partners LP/Finance Corp.<sup>(d)</sup>  | Antero Midstream Partners LP/Finance Corp.<sup>(d)</sup>  | Antero Midstream Partners LP/Finance Corp.<sup>(d)</sup>  |
| 02/01/2032 | &nbsp;&nbsp; 6.625% | 1160000 | &nbsp;&nbsp; 1205486 |
| CNX Midstream Partners LP<sup>(d)</sup>  | CNX Midstream Partners LP<sup>(d)</sup>  | CNX Midstream Partners LP<sup>(d)</sup>  | CNX Midstream Partners LP<sup>(d)</sup>  |
| 04/15/2030 | &nbsp;&nbsp; 4.750% | 3501000 | &nbsp;&nbsp; 3403300 |
| Delek Logistics Partners LP/Finance Corp.<sup>(d)</sup>  | Delek Logistics Partners LP/Finance Corp.<sup>(d)</sup>  | Delek Logistics Partners LP/Finance Corp.<sup>(d)</sup>  | Delek Logistics Partners LP/Finance Corp.<sup>(d)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 8.625% | 3310000 | &nbsp;&nbsp; 3462585 |
| 06/30/2033 | &nbsp;&nbsp; 7.375% | 2559000 | &nbsp;&nbsp; 2634047 |
| Hess Midstream Operations LP<sup>(d)</sup>  | Hess Midstream Operations LP<sup>(d)</sup>  | Hess Midstream Operations LP<sup>(d)</sup>  | Hess Midstream Operations LP<sup>(d)</sup>  |
| 03/01/2028 | &nbsp;&nbsp; 5.875% | 510000 | &nbsp;&nbsp; 519729 |
| 10/15/2030 | &nbsp;&nbsp; 5.500% | 417000 | &nbsp;&nbsp; 421677 |
| ITT Holdings LLC<sup>(d)</sup>  | ITT Holdings LLC<sup>(d)</sup>  | ITT Holdings LLC<sup>(d)</sup>  | ITT Holdings LLC<sup>(d)</sup>  |
| 08/01/2029 | &nbsp;&nbsp; 6.500% | 235000 | &nbsp;&nbsp; 226576 |
| NuStar Logistics LP | NuStar Logistics LP | NuStar Logistics LP | NuStar Logistics LP |
| 06/01/2026 | &nbsp;&nbsp; 6.000% | 1402000 | &nbsp;&nbsp; 1403747 |
| 04/28/2027 | &nbsp;&nbsp; 5.625% | 3054000 | &nbsp;&nbsp; 3084255 |
| Rockies Express Pipeline LLC<sup>(d)</sup>  | Rockies Express Pipeline LLC<sup>(d)</sup>  | Rockies Express Pipeline LLC<sup>(d)</sup>  | Rockies Express Pipeline LLC<sup>(d)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.750% | 562000 | &nbsp;&nbsp; 593249 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Sunoco LP<sup>(d),(f),(g)</sup>  | Sunoco LP<sup>(d),(f),(g)</sup>  | Sunoco LP<sup>(d),(f),(g)</sup>  | Sunoco LP<sup>(d),(f),(g)</sup>  |
|  | &nbsp;&nbsp; 7.875% | 2762000 | &nbsp;&nbsp; 2849157 |
| Sunoco LP<sup>(d)</sup>  | Sunoco LP<sup>(d)</sup>  | Sunoco LP<sup>(d)</sup>  | Sunoco LP<sup>(d)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 7.000% | 1502000 | &nbsp;&nbsp; 1561287 |
| 05/01/2032 | &nbsp;&nbsp; 7.250% | 1418000 | &nbsp;&nbsp; 1500098 |
| 07/01/2033 | &nbsp;&nbsp; 6.250% | 2113000 | &nbsp;&nbsp; 2172378 |
| Venture Global Calcasieu Pass LLC<sup>(d)</sup>  | Venture Global Calcasieu Pass LLC<sup>(d)</sup>  | Venture Global Calcasieu Pass LLC<sup>(d)</sup>  | Venture Global Calcasieu Pass LLC<sup>(d)</sup>  |
| 08/15/2031 | &nbsp;&nbsp; 4.125% | 2972000 | &nbsp;&nbsp; 2742693 |
| Venture Global LNG, Inc.<sup>(d),(f),(g)</sup>  | Venture Global LNG, Inc.<sup>(d),(f),(g)</sup>  | Venture Global LNG, Inc.<sup>(d),(f),(g)</sup>  | Venture Global LNG, Inc.<sup>(d),(f),(g)</sup>  |
|  | &nbsp;&nbsp; 9.000% | 2758000 | &nbsp;&nbsp; 2428840 |
| Venture Global LNG, Inc.<sup>(d)</sup>  | Venture Global LNG, Inc.<sup>(d)</sup>  | Venture Global LNG, Inc.<sup>(d)</sup>  | Venture Global LNG, Inc.<sup>(d)</sup>  |
| 02/01/2029 | &nbsp;&nbsp; 9.500% | 2137000 | &nbsp;&nbsp; 2276684 |
| 01/15/2030 | &nbsp;&nbsp; 7.000% | 1075000 | &nbsp;&nbsp; 1081710 |
| 02/01/2032 | &nbsp;&nbsp; 9.875% | 898000 | &nbsp;&nbsp; 950526 |
| Venture Global Plaquemines LNG LLC<sup>(d)</sup>  | Venture Global Plaquemines LNG LLC<sup>(d)</sup>  | Venture Global Plaquemines LNG LLC<sup>(d)</sup>  | Venture Global Plaquemines LNG LLC<sup>(d)</sup>  |
| 12/15/2030 | &nbsp;&nbsp; 6.125% | 528000 | &nbsp;&nbsp; 543513 |
| 05/01/2033 | &nbsp;&nbsp; 7.500% | 848000 | &nbsp;&nbsp; 929727 |
| 01/15/2034 | &nbsp;&nbsp; 6.500% | 1950000 | &nbsp;&nbsp; 2025164 |
| 06/15/2034 | &nbsp;&nbsp; 6.500% | 698000 | &nbsp;&nbsp; 723398 |
| 05/01/2035 | &nbsp;&nbsp; 7.750% | 973000 | &nbsp;&nbsp; 1085189 |
| 01/15/2036 | &nbsp;&nbsp; 6.750% | 3755000 | &nbsp;&nbsp; 3937176 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **45454272** |
| **Oil Field Services 2.2%** | **Oil Field Services 2.2%** | **Oil Field Services 2.2%** | **Oil Field Services 2.2%** |
| Archrock Partners LP/Finance Corp.<sup>(d)</sup>  | Archrock Partners LP/Finance Corp.<sup>(d)</sup>  | Archrock Partners LP/Finance Corp.<sup>(d)</sup>  | Archrock Partners LP/Finance Corp.<sup>(d)</sup>  |
| 09/01/2032 | &nbsp;&nbsp; 6.625% | 936000 | &nbsp;&nbsp; 970001 |
| Archrock Services LP /Partners Finance Corp.<sup>(d)</sup>  | Archrock Services LP /Partners Finance Corp.<sup>(d)</sup>  | Archrock Services LP /Partners Finance Corp.<sup>(d)</sup>  | Archrock Services LP /Partners Finance Corp.<sup>(d)</sup>  |
| 02/01/2034 | &nbsp;&nbsp; 6.000% | 558000 | &nbsp;&nbsp; 557560 |
| Kodiak Gas Services LLC<sup>(d)</sup>  | Kodiak Gas Services LLC<sup>(d)</sup>  | Kodiak Gas Services LLC<sup>(d)</sup>  | Kodiak Gas Services LLC<sup>(d)</sup>  |
| 02/15/2029 | &nbsp;&nbsp; 7.250% | 2062000 | &nbsp;&nbsp; 2139612 |
| 10/01/2033 | &nbsp;&nbsp; 6.500% | 2147000 | &nbsp;&nbsp; 2197860 |
| 10/01/2035 | &nbsp;&nbsp; 6.750% | 623000 | &nbsp;&nbsp; 643557 |
| Nabors Industries, Inc.<sup>(d)</sup>  | Nabors Industries, Inc.<sup>(d)</sup>  | Nabors Industries, Inc.<sup>(d)</sup>  | Nabors Industries, Inc.<sup>(d)</sup>  |
| 01/31/2030 | &nbsp;&nbsp; 9.125% | 1901000 | &nbsp;&nbsp; 2007033 |
| 08/15/2031 | &nbsp;&nbsp; 8.875% | 971000 | &nbsp;&nbsp; 988372 |
| 11/15/2032 | &nbsp;&nbsp; 7.625% | 775000 | &nbsp;&nbsp; 789182 |
| Transocean Aquila Ltd.<sup>(d)</sup>  | Transocean Aquila Ltd.<sup>(d)</sup>  | Transocean Aquila Ltd.<sup>(d)</sup>  | Transocean Aquila Ltd.<sup>(d)</sup>  |
| 09/30/2028 | &nbsp;&nbsp; 8.000% | 1551000 | &nbsp;&nbsp; 1593938 |
| Transocean Titan Financing Ltd.<sup>(d)</sup>  | Transocean Titan Financing Ltd.<sup>(d)</sup>  | Transocean Titan Financing Ltd.<sup>(d)</sup>  | Transocean Titan Financing Ltd.<sup>(d)</sup>  |
| 02/01/2028 | &nbsp;&nbsp; 8.375% | 2439905 | &nbsp;&nbsp; 2493047 |
| USA Compression Partners LP/Finance Corp.<sup>(d)</sup>  | USA Compression Partners LP/Finance Corp.<sup>(d)</sup>  | USA Compression Partners LP/Finance Corp.<sup>(d)</sup>  | USA Compression Partners LP/Finance Corp.<sup>(d)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 7.125% | 1723000 | &nbsp;&nbsp; 1784470 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **16164632** |
| **Other Industry 0.4%** | **Other Industry 0.4%** | **Other Industry 0.4%** | **Other Industry 0.4%** |
| Installed Building Products, Inc.<sup>(d)</sup>  | Installed Building Products, Inc.<sup>(d)</sup>  | Installed Building Products, Inc.<sup>(d)</sup>  | Installed Building Products, Inc.<sup>(d)</sup>  |
| 02/01/2034 | &nbsp;&nbsp; 5.625% | 1166000 | &nbsp;&nbsp; 1174441 |
| Williams Scotsman International, Inc.<sup>(d)</sup>  | Williams Scotsman International, Inc.<sup>(d)</sup>  | Williams Scotsman International, Inc.<sup>(d)</sup>  | Williams Scotsman International, Inc.<sup>(d)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 4.625% | 735000 | &nbsp;&nbsp; 732386 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Williams Scotsman, Inc.<sup>(d)</sup>  | Williams Scotsman, Inc.<sup>(d)</sup>  | Williams Scotsman, Inc.<sup>(d)</sup>  | Williams Scotsman, Inc.<sup>(d)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 6.625% | 692000 | &nbsp;&nbsp; 714938 |
| 04/15/2030 | &nbsp;&nbsp; 6.625% | 404000 | &nbsp;&nbsp; 418353 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3040118** |
| **Other REIT 1.4%** | **Other REIT 1.4%** | **Other REIT 1.4%** | **Other REIT 1.4%** |
| Ladder Capital Finance Holdings LLLP | Ladder Capital Finance Holdings LLLP | Ladder Capital Finance Holdings LLLP | Ladder Capital Finance Holdings LLLP |
| 08/01/2030 | &nbsp;&nbsp; 5.500% | 1035000 | &nbsp;&nbsp; 1063757 |
| Ladder Capital Finance Holdings LLLP/Corp.<sup>(d)</sup>  | Ladder Capital Finance Holdings LLLP/Corp.<sup>(d)</sup>  | Ladder Capital Finance Holdings LLLP/Corp.<sup>(d)</sup>  | Ladder Capital Finance Holdings LLLP/Corp.<sup>(d)</sup>  |
| 07/15/2031 | &nbsp;&nbsp; 7.000% | 1008000 | &nbsp;&nbsp; 1070226 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(d)</sup>  | Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(d)</sup>  | Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(d)</sup>  | Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer<sup>(d)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 5.875% | 1840000 | &nbsp;&nbsp; 1841896 |
| 05/15/2029 | &nbsp;&nbsp; 4.875% | 1134000 | &nbsp;&nbsp; 1109375 |
| RHP Hotel Properties LP/Finance Corp.<sup>(d)</sup>  | RHP Hotel Properties LP/Finance Corp.<sup>(d)</sup>  | RHP Hotel Properties LP/Finance Corp.<sup>(d)</sup>  | RHP Hotel Properties LP/Finance Corp.<sup>(d)</sup>  |
| 07/15/2028 | &nbsp;&nbsp; 7.250% | 434000 | &nbsp;&nbsp; 446997 |
| 04/01/2032 | &nbsp;&nbsp; 6.500% | 1211000 | &nbsp;&nbsp; 1253480 |
| 06/15/2033 | &nbsp;&nbsp; 6.500% | 763000 | &nbsp;&nbsp; 790929 |
| RLJ Lodging Trust LP<sup>(d)</sup>  | RLJ Lodging Trust LP<sup>(d)</sup>  | RLJ Lodging Trust LP<sup>(d)</sup>  | RLJ Lodging Trust LP<sup>(d)</sup>  |
| 07/01/2026 | &nbsp;&nbsp; 3.750% | 969000 | &nbsp;&nbsp; 963797 |
| Service Properties Trust | Service Properties Trust | Service Properties Trust | Service Properties Trust |
| 06/15/2029 | &nbsp;&nbsp; 8.375% | 778000 | &nbsp;&nbsp; 787245 |
| Service Properties Trust<sup>(d)</sup>  | Service Properties Trust<sup>(d)</sup>  | Service Properties Trust<sup>(d)</sup>  | Service Properties Trust<sup>(d)</sup>  |
| 11/15/2031 | &nbsp;&nbsp; 8.625% | 672000 | &nbsp;&nbsp; 706158 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10033860** |
| **Packaging 0.5%** | **Packaging 0.5%** | **Packaging 0.5%** | **Packaging 0.5%** |
| Ardagh Metal Packaging Finance USA LLC/PLC<sup>(d)</sup>  | Ardagh Metal Packaging Finance USA LLC/PLC<sup>(d)</sup>  | Ardagh Metal Packaging Finance USA LLC/PLC<sup>(d)</sup>  | Ardagh Metal Packaging Finance USA LLC/PLC<sup>(d)</sup>  |
| 01/30/2031 | &nbsp;&nbsp; 6.250% | 744000 | &nbsp;&nbsp; 764692 |
| Clydesdale Acquisition Holdings, Inc.<sup>(d)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(d)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(d)</sup>  | Clydesdale Acquisition Holdings, Inc.<sup>(d)</sup>  |
| 04/15/2030 | &nbsp;&nbsp; 8.750% | 2196000 | &nbsp;&nbsp; 2198792 |
| 04/15/2032 | &nbsp;&nbsp; 6.750% | 693000 | &nbsp;&nbsp; 698894 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3662378** |
| **Pharmaceuticals 1.5%** | **Pharmaceuticals 1.5%** | **Pharmaceuticals 1.5%** | **Pharmaceuticals 1.5%** |
| 1261229 BC Ltd.<sup>(d)</sup>  | 1261229 BC Ltd.<sup>(d)</sup>  | 1261229 BC Ltd.<sup>(d)</sup>  | 1261229 BC Ltd.<sup>(d)</sup>  |
| 04/15/2032 | &nbsp;&nbsp; 10.000% | 3193000 | &nbsp;&nbsp; 3277168 |
| Bausch Health Companies, Inc.<sup>(d)</sup>  | Bausch Health Companies, Inc.<sup>(d)</sup>  | Bausch Health Companies, Inc.<sup>(d)</sup>  | Bausch Health Companies, Inc.<sup>(d)</sup>  |
| 06/01/2028 | &nbsp;&nbsp; 4.875% | 2006000 | &nbsp;&nbsp; 1862658 |
| Grifols Escrow Issuer SA<sup>(d)</sup>  | Grifols Escrow Issuer SA<sup>(d)</sup>  | Grifols Escrow Issuer SA<sup>(d)</sup>  | Grifols Escrow Issuer SA<sup>(d)</sup>  |
| 10/15/2028 | &nbsp;&nbsp; 4.750% | 3321000 | &nbsp;&nbsp; 3273049 |
| Jazz Securities DAC<sup>(d)</sup>  | Jazz Securities DAC<sup>(d)</sup>  | Jazz Securities DAC<sup>(d)</sup>  | Jazz Securities DAC<sup>(d)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 4.375% | 1100000 | &nbsp;&nbsp; 1082675 |
| Organon Finance 1 LLC<sup>(d)</sup>  | Organon Finance 1 LLC<sup>(d)</sup>  | Organon Finance 1 LLC<sup>(d)</sup>  | Organon Finance 1 LLC<sup>(d)</sup>  |
| 04/30/2028 | &nbsp;&nbsp; 4.125% | 834000 | &nbsp;&nbsp; 817964 |
| 04/30/2031 | &nbsp;&nbsp; 5.125% | 345000 | &nbsp;&nbsp; 313192 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10626706** |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| **Property & Casualty 3.8%** | **Property & Casualty 3.8%** | **Property & Casualty 3.8%** | **Property & Casualty 3.8%** |
| Acrisure LLC/Finance, Inc.<sup>(d)</sup>  | Acrisure LLC/Finance, Inc.<sup>(d)</sup>  | Acrisure LLC/Finance, Inc.<sup>(d)</sup>  | Acrisure LLC/Finance, Inc.<sup>(d)</sup>  |
| 11/06/2030 | &nbsp;&nbsp; 7.500% | 1370000 | &nbsp;&nbsp; 1418747 |
| 07/01/2032 | &nbsp;&nbsp; 6.750% | 1761000 | &nbsp;&nbsp; 1804482 |
| Alliant Holdings Intermediate LLC/Co-Issuer<sup>(d)</sup>  | Alliant Holdings Intermediate LLC/Co-Issuer<sup>(d)</sup>  | Alliant Holdings Intermediate LLC/Co-Issuer<sup>(d)</sup>  | Alliant Holdings Intermediate LLC/Co-Issuer<sup>(d)</sup>  |
| 10/15/2027 | &nbsp;&nbsp; 4.250% | 2642000 | &nbsp;&nbsp; 2609079 |
| 04/15/2028 | &nbsp;&nbsp; 6.750% | 3230000 | &nbsp;&nbsp; 3286167 |
| 01/15/2031 | &nbsp;&nbsp; 7.000% | 734000 | &nbsp;&nbsp; 760999 |
| 10/01/2031 | &nbsp;&nbsp; 6.500% | 1649000 | &nbsp;&nbsp; 1696128 |
| AmWINS Group, Inc.<sup>(d)</sup>  | AmWINS Group, Inc.<sup>(d)</sup>  | AmWINS Group, Inc.<sup>(d)</sup>  | AmWINS Group, Inc.<sup>(d)</sup>  |
| 02/15/2029 | &nbsp;&nbsp; 6.375% | 694000 | &nbsp;&nbsp; 712038 |
| Ardonagh Finco Ltd.<sup>(d),(h)</sup>  | Ardonagh Finco Ltd.<sup>(d),(h)</sup>  | Ardonagh Finco Ltd.<sup>(d),(h)</sup>  | Ardonagh Finco Ltd.<sup>(d),(h)</sup>  |
| 02/15/2031 | &nbsp;&nbsp; 7.750% | 3381000 | &nbsp;&nbsp; 3494560 |
| Asurion LLC and Asurion Co-Issuer, Inc.<sup>(d)</sup>  | Asurion LLC and Asurion Co-Issuer, Inc.<sup>(d)</sup>  | Asurion LLC and Asurion Co-Issuer, Inc.<sup>(d)</sup>  | Asurion LLC and Asurion Co-Issuer, Inc.<sup>(d)</sup>  |
| 02/01/2034 | &nbsp;&nbsp; 8.375% | 830000 | &nbsp;&nbsp; 839401 |
| Howden UK Refinance PLC/2 PLC/US Refinance LLC<sup>(d)</sup>  | Howden UK Refinance PLC/2 PLC/US Refinance LLC<sup>(d)</sup>  | Howden UK Refinance PLC/2 PLC/US Refinance LLC<sup>(d)</sup>  | Howden UK Refinance PLC/2 PLC/US Refinance LLC<sup>(d)</sup>  |
| 02/15/2031 | &nbsp;&nbsp; 7.250% | 1395000 | &nbsp;&nbsp; 1442629 |
| HUB International Ltd.<sup>(d)</sup>  | HUB International Ltd.<sup>(d)</sup>  | HUB International Ltd.<sup>(d)</sup>  | HUB International Ltd.<sup>(d)</sup>  |
| 01/31/2032 | &nbsp;&nbsp; 7.375% | 2080000 | &nbsp;&nbsp; 2179284 |
| HUB International, Ltd.<sup>(d)</sup>  | HUB International, Ltd.<sup>(d)</sup>  | HUB International, Ltd.<sup>(d)</sup>  | HUB International, Ltd.<sup>(d)</sup>  |
| 06/15/2030 | &nbsp;&nbsp; 7.250% | 4500000 | &nbsp;&nbsp; 4701153 |
| Lumbermens Mutual Casualty Co.<sup>(d),(i)</sup>  | Lumbermens Mutual Casualty Co.<sup>(d),(i)</sup>  | Lumbermens Mutual Casualty Co.<sup>(d),(i)</sup>  | Lumbermens Mutual Casualty Co.<sup>(d),(i)</sup>  |
| 12/01/2097 | &nbsp;&nbsp; 0.000% | 4600000 | &nbsp;&nbsp; 4600 |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 12/01/2037 | &nbsp;&nbsp; 0.000% | 180000 | &nbsp;&nbsp; 180 |
| Lumbermens Mutual Casualty Co.<sup>(i)</sup>  | Lumbermens Mutual Casualty Co.<sup>(i)</sup>  | Lumbermens Mutual Casualty Co.<sup>(i)</sup>  | Lumbermens Mutual Casualty Co.<sup>(i)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 07/01/2026 | &nbsp;&nbsp; 0.000% | 9865000 | &nbsp;&nbsp; 9865 |
| Panther Escrow Issuer LLC<sup>(d)</sup>  | Panther Escrow Issuer LLC<sup>(d)</sup>  | Panther Escrow Issuer LLC<sup>(d)</sup>  | Panther Escrow Issuer LLC<sup>(d)</sup>  |
| 06/01/2031 | &nbsp;&nbsp; 7.125% | 1644000 | &nbsp;&nbsp; 1693445 |
| Ryan Specialty LLC<sup>(d)</sup>  | Ryan Specialty LLC<sup>(d)</sup>  | Ryan Specialty LLC<sup>(d)</sup>  | Ryan Specialty LLC<sup>(d)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 5.875% | 721000 | &nbsp;&nbsp; 732923 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **27385680** |
| **Railroads 0.8%** | **Railroads 0.8%** | **Railroads 0.8%** | **Railroads 0.8%** |
| Genesee & Wyoming, Inc.<sup>(d)</sup>  | Genesee & Wyoming, Inc.<sup>(d)</sup>  | Genesee & Wyoming, Inc.<sup>(d)</sup>  | Genesee & Wyoming, Inc.<sup>(d)</sup>  |
| 04/15/2032 | &nbsp;&nbsp; 6.250% | 2340000 | &nbsp;&nbsp; 2415003 |
| Watco Cos LLC/Finance Corp.<sup>(d)</sup>  | Watco Cos LLC/Finance Corp.<sup>(d)</sup>  | Watco Cos LLC/Finance Corp.<sup>(d)</sup>  | Watco Cos LLC/Finance Corp.<sup>(d)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 7.125% | 3503000 | &nbsp;&nbsp; 3667897 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **6082900** |
| **Restaurants 0.7%** | **Restaurants 0.7%** | **Restaurants 0.7%** | **Restaurants 0.7%** |
| 1011778 BC ULC/New Red Finance, Inc.<sup>(d)</sup>  | 1011778 BC ULC/New Red Finance, Inc.<sup>(d)</sup>  | 1011778 BC ULC/New Red Finance, Inc.<sup>(d)</sup>  | 1011778 BC ULC/New Red Finance, Inc.<sup>(d)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 6.125% | 1195000 | &nbsp;&nbsp; 1225272 |
| 09/15/2029 | &nbsp;&nbsp; 5.625% | 1195000 | &nbsp;&nbsp; 1215748 |
| Fertitta Entertainment LLC/Finance Co., Inc.<sup>(d)</sup>  | Fertitta Entertainment LLC/Finance Co., Inc.<sup>(d)</sup>  | Fertitta Entertainment LLC/Finance Co., Inc.<sup>(d)</sup>  | Fertitta Entertainment LLC/Finance Co., Inc.<sup>(d)</sup>  |
| 01/15/2029 | &nbsp;&nbsp; 4.625% | 1515000 | &nbsp;&nbsp; 1465979 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Yum! Brands, Inc. | Yum! Brands, Inc. | Yum! Brands, Inc. | Yum! Brands, Inc. |
| 04/01/2032 | &nbsp;&nbsp; 5.375% | 1097000 | &nbsp;&nbsp; 1111007 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5018006** |
| **Retailers 1.5%** | **Retailers 1.5%** | **Retailers 1.5%** | **Retailers 1.5%** |
| Advance Auto Parts, Inc.<sup>(d)</sup>  | Advance Auto Parts, Inc.<sup>(d)</sup>  | Advance Auto Parts, Inc.<sup>(d)</sup>  | Advance Auto Parts, Inc.<sup>(d)</sup>  |
| 08/01/2030 | &nbsp;&nbsp; 7.000% | 976000 | &nbsp;&nbsp; 991414 |
| 08/01/2033 | &nbsp;&nbsp; 7.375% | 1506000 | &nbsp;&nbsp; 1526217 |
| Asbury Automotive Group, Inc.<sup>(d)</sup>  | Asbury Automotive Group, Inc.<sup>(d)</sup>  | Asbury Automotive Group, Inc.<sup>(d)</sup>  | Asbury Automotive Group, Inc.<sup>(d)</sup>  |
| 02/15/2032 | &nbsp;&nbsp; 5.000% | 567000 | &nbsp;&nbsp; 550979 |
| Beach Acquisition Bidco LLC<sup>(d),(e)</sup>  | Beach Acquisition Bidco LLC<sup>(d),(e)</sup>  | Beach Acquisition Bidco LLC<sup>(d),(e)</sup>  | Beach Acquisition Bidco LLC<sup>(d),(e)</sup>  |
| 07/15/2033 | &nbsp;&nbsp; 10.000% | 1470397 | &nbsp;&nbsp; 1618240 |
| Belron UK Finance PLC<sup>(d)</sup>  | Belron UK Finance PLC<sup>(d)</sup>  | Belron UK Finance PLC<sup>(d)</sup>  | Belron UK Finance PLC<sup>(d)</sup>  |
| 10/15/2029 | &nbsp;&nbsp; 5.750% | 732000 | &nbsp;&nbsp; 746133 |
| Group 1 Automotive, Inc.<sup>(d)</sup>  | Group 1 Automotive, Inc.<sup>(d)</sup>  | Group 1 Automotive, Inc.<sup>(d)</sup>  | Group 1 Automotive, Inc.<sup>(d)</sup>  |
| 08/15/2028 | &nbsp;&nbsp; 4.000% | 663000 | &nbsp;&nbsp; 649370 |
| 01/15/2030 | &nbsp;&nbsp; 6.375% | 486000 | &nbsp;&nbsp; 499324 |
| L Brands, Inc. | L Brands, Inc. | L Brands, Inc. | L Brands, Inc. |
| 06/15/2029 | &nbsp;&nbsp; 7.500% | 385000 | &nbsp;&nbsp; 392815 |
| LCM Investments Holdings II LLC<sup>(d)</sup>  | LCM Investments Holdings II LLC<sup>(d)</sup>  | LCM Investments Holdings II LLC<sup>(d)</sup>  | LCM Investments Holdings II LLC<sup>(d)</sup>  |
| 05/01/2029 | &nbsp;&nbsp; 4.875% | 1709000 | &nbsp;&nbsp; 1684134 |
| 08/01/2031 | &nbsp;&nbsp; 8.250% | 1005000 | &nbsp;&nbsp; 1058939 |
| Lithia Motors, Inc.<sup>(d)</sup>  | Lithia Motors, Inc.<sup>(d)</sup>  | Lithia Motors, Inc.<sup>(d)</sup>  | Lithia Motors, Inc.<sup>(d)</sup>  |
| 01/15/2031 | &nbsp;&nbsp; 4.375% | 870000 | &nbsp;&nbsp; 837226 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10554791** |
| **Supermarkets 0.3%** | **Supermarkets 0.3%** | **Supermarkets 0.3%** | **Supermarkets 0.3%** |
| Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(d)</sup>  | Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(d)</sup>  | Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(d)</sup>  | Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(d)</sup>  |
| 03/15/2029 | &nbsp;&nbsp; 3.500% | 849000 | &nbsp;&nbsp; 815156 |
| Albertsons Cos, Inc.<sup>(d),(j)</sup>  | Albertsons Cos, Inc.<sup>(d),(j)</sup>  | Albertsons Cos, Inc.<sup>(d),(j)</sup>  | Albertsons Cos, Inc.<sup>(d),(j)</sup>  |
| 03/31/2032 | &nbsp;&nbsp; 5.625% | 1484000 | &nbsp;&nbsp; 1482405 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2297561** |
| **Technology 9.9%** | **Technology 9.9%** | **Technology 9.9%** | **Technology 9.9%** |
| Amentum Escrow Corp.<sup>(d)</sup>  | Amentum Escrow Corp.<sup>(d)</sup>  | Amentum Escrow Corp.<sup>(d)</sup>  | Amentum Escrow Corp.<sup>(d)</sup>  |
| 08/01/2032 | &nbsp;&nbsp; 7.250% | 2426000 | &nbsp;&nbsp; 2557417 |
| APLD ComputeCo LLC<sup>(d)</sup>  | APLD ComputeCo LLC<sup>(d)</sup>  | APLD ComputeCo LLC<sup>(d)</sup>  | APLD ComputeCo LLC<sup>(d)</sup>  |
| 12/15/2030 | &nbsp;&nbsp; 9.250% | 3172000 | &nbsp;&nbsp; 3295443 |
| Block, Inc.<sup>(d)</sup>  | Block, Inc.<sup>(d)</sup>  | Block, Inc.<sup>(d)</sup>  | Block, Inc.<sup>(d)</sup>  |
| 08/15/2030 | &nbsp;&nbsp; 5.625% | 1042000 | &nbsp;&nbsp; 1060610 |
| 08/15/2033 | &nbsp;&nbsp; 6.000% | 815000 | &nbsp;&nbsp; 831812 |
| Block, Inc. | Block, Inc. | Block, Inc. | Block, Inc. |
| 05/15/2032 | &nbsp;&nbsp; 6.500% | 2384000 | &nbsp;&nbsp; 2477275 |
| CACI International, Inc.<sup>(d)</sup>  | CACI International, Inc.<sup>(d)</sup>  | CACI International, Inc.<sup>(d)</sup>  | CACI International, Inc.<sup>(d)</sup>  |
| 06/15/2033 | &nbsp;&nbsp; 6.375% | 1415000 | &nbsp;&nbsp; 1470841 |
| Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(d)</sup>  | Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(d)</sup>  | Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(d)</sup>  | Central Parent LLC/CDK Global II LLC/Financing, Co., Inc.<sup>(d)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 8.000% | 431000 | &nbsp;&nbsp; 335193 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Central Parent, Inc./CDK Global, Inc.<sup>(d)</sup>  | Central Parent, Inc./CDK Global, Inc.<sup>(d)</sup>  | Central Parent, Inc./CDK Global, Inc.<sup>(d)</sup>  | Central Parent, Inc./CDK Global, Inc.<sup>(d)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 7.250% | 437000 | &nbsp;&nbsp; 334360 |
| Cipher Compute LLC<sup>(d)</sup>  | Cipher Compute LLC<sup>(d)</sup>  | Cipher Compute LLC<sup>(d)</sup>  | Cipher Compute LLC<sup>(d)</sup>  |
| 11/15/2030 | &nbsp;&nbsp; 7.125% | 1823000 | &nbsp;&nbsp; 1878128 |
| Clarivate Science Holdings Corp.<sup>(d)</sup>  | Clarivate Science Holdings Corp.<sup>(d)</sup>  | Clarivate Science Holdings Corp.<sup>(d)</sup>  | Clarivate Science Holdings Corp.<sup>(d)</sup>  |
| 07/01/2029 | &nbsp;&nbsp; 4.875% | 3085000 | &nbsp;&nbsp; 2648860 |
| Cloud Software Group, Inc,<sup>(d)</sup>  | Cloud Software Group, Inc,<sup>(d)</sup>  | Cloud Software Group, Inc,<sup>(d)</sup>  | Cloud Software Group, Inc,<sup>(d)</sup>  |
| 08/15/2033 | &nbsp;&nbsp; 6.625% | 358000 | &nbsp;&nbsp; 343147 |
| Cloud Software Group, Inc.<sup>(d)</sup>  | Cloud Software Group, Inc.<sup>(d)</sup>  | Cloud Software Group, Inc.<sup>(d)</sup>  | Cloud Software Group, Inc.<sup>(d)</sup>  |
| 09/30/2029 | &nbsp;&nbsp; 9.000% | 2797000 | &nbsp;&nbsp; 2828864 |
| 06/30/2032 | &nbsp;&nbsp; 8.250% | 1038000 | &nbsp;&nbsp; 1056326 |
| CoreWeave, Inc.<sup>(d)</sup>  | CoreWeave, Inc.<sup>(d)</sup>  | CoreWeave, Inc.<sup>(d)</sup>  | CoreWeave, Inc.<sup>(d)</sup>  |
| 06/01/2030 | &nbsp;&nbsp; 9.250% | 380000 | &nbsp;&nbsp; 374152 |
| 02/01/2031 | &nbsp;&nbsp; 9.000% | 375000 | &nbsp;&nbsp; 364683 |
| Ellucian Holdings, Inc.<sup>(d)</sup>  | Ellucian Holdings, Inc.<sup>(d)</sup>  | Ellucian Holdings, Inc.<sup>(d)</sup>  | Ellucian Holdings, Inc.<sup>(d)</sup>  |
| 12/01/2029 | &nbsp;&nbsp; 6.500% | 313000 | &nbsp;&nbsp; 309368 |
| Entegris Escrow Corp.<sup>(d)</sup>  | Entegris Escrow Corp.<sup>(d)</sup>  | Entegris Escrow Corp.<sup>(d)</sup>  | Entegris Escrow Corp.<sup>(d)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 4.750% | 1560000 | &nbsp;&nbsp; 1559750 |
| 06/15/2030 | &nbsp;&nbsp; 5.950% | 3129000 | &nbsp;&nbsp; 3190536 |
| Fair Isaac Corp.<sup>(d)</sup>  | Fair Isaac Corp.<sup>(d)</sup>  | Fair Isaac Corp.<sup>(d)</sup>  | Fair Isaac Corp.<sup>(d)</sup>  |
| 05/15/2033 | &nbsp;&nbsp; 6.000% | 1164000 | &nbsp;&nbsp; 1185026 |
| Flash Compute LLC<sup>(d)</sup>  | Flash Compute LLC<sup>(d)</sup>  | Flash Compute LLC<sup>(d)</sup>  | Flash Compute LLC<sup>(d)</sup>  |
| 12/31/2030 | &nbsp;&nbsp; 7.250% | 1012000 | &nbsp;&nbsp; 1015536 |
| HealthEquity, Inc.<sup>(d)</sup>  | HealthEquity, Inc.<sup>(d)</sup>  | HealthEquity, Inc.<sup>(d)</sup>  | HealthEquity, Inc.<sup>(d)</sup>  |
| 10/01/2029 | &nbsp;&nbsp; 4.500% | 2905000 | &nbsp;&nbsp; 2832807 |
| ION Platform Finance US Inc./SARL<sup>(d)</sup>  | ION Platform Finance US Inc./SARL<sup>(d)</sup>  | ION Platform Finance US Inc./SARL<sup>(d)</sup>  | ION Platform Finance US Inc./SARL<sup>(d)</sup>  |
| 05/01/2028 | &nbsp;&nbsp; 4.625% | 2775000 | &nbsp;&nbsp; 2594755 |
| 05/15/2028 | &nbsp;&nbsp; 5.750% | 1054000 | &nbsp;&nbsp; 1000148 |
| 05/01/2029 | &nbsp;&nbsp; 8.750% | 2245000 | &nbsp;&nbsp; 2140916 |
| 05/30/2029 | &nbsp;&nbsp; 9.500% | 1951000 | &nbsp;&nbsp; 1883180 |
| ION Platform Finance US, Inc.<sup>(d)</sup>  | ION Platform Finance US, Inc.<sup>(d)</sup>  | ION Platform Finance US, Inc.<sup>(d)</sup>  | ION Platform Finance US, Inc.<sup>(d)</sup>  |
| 09/30/2032 | &nbsp;&nbsp; 7.875% | 2121000 | &nbsp;&nbsp; 1860570 |
| Iron Mountain, Inc.<sup>(d)</sup>  | Iron Mountain, Inc.<sup>(d)</sup>  | Iron Mountain, Inc.<sup>(d)</sup>  | Iron Mountain, Inc.<sup>(d)</sup>  |
| 01/15/2033 | &nbsp;&nbsp; 6.250% | 755000 | &nbsp;&nbsp; 763781 |
| NCR Atleos Escrow Corp.<sup>(d)</sup>  | NCR Atleos Escrow Corp.<sup>(d)</sup>  | NCR Atleos Escrow Corp.<sup>(d)</sup>  | NCR Atleos Escrow Corp.<sup>(d)</sup>  |
| 04/01/2029 | &nbsp;&nbsp; 9.500% | 3217000 | &nbsp;&nbsp; 3446519 |
| NCR Corp.<sup>(d)</sup>  | NCR Corp.<sup>(d)</sup>  | NCR Corp.<sup>(d)</sup>  | NCR Corp.<sup>(d)</sup>  |
| 10/01/2028 | &nbsp;&nbsp; 5.000% | 1257000 | &nbsp;&nbsp; 1243933 |
| 04/15/2029 | &nbsp;&nbsp; 5.125% | 1147000 | &nbsp;&nbsp; 1133219 |
| Neptune Bidco US, Inc.<sup>(d)</sup>  | Neptune Bidco US, Inc.<sup>(d)</sup>  | Neptune Bidco US, Inc.<sup>(d)</sup>  | Neptune Bidco US, Inc.<sup>(d)</sup>  |
| 04/15/2029 | &nbsp;&nbsp; 9.290% | 2551000 | &nbsp;&nbsp; 2619705 |
| 05/15/2031 | &nbsp;&nbsp; 10.375% | 845000 | &nbsp;&nbsp; 894030 |
| 02/15/2033 | &nbsp;&nbsp; 9.500% | 632000 | &nbsp;&nbsp; 643699 |
| Picard Midco, Inc.<sup>(d)</sup>  | Picard Midco, Inc.<sup>(d)</sup>  | Picard Midco, Inc.<sup>(d)</sup>  | Picard Midco, Inc.<sup>(d)</sup>  |
| 03/31/2029 | &nbsp;&nbsp; 6.500% | 4589000 | &nbsp;&nbsp; 4560736 |
| Science Applications International Corp.<sup>(d)</sup>  | Science Applications International Corp.<sup>(d)</sup>  | Science Applications International Corp.<sup>(d)</sup>  | Science Applications International Corp.<sup>(d)</sup>  |
| 11/01/2033 | &nbsp;&nbsp; 5.875% | 1774000 | &nbsp;&nbsp; 1788837 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| Seagate Data Storage Technology Pte Ltd.<sup>(d)</sup>  | Seagate Data Storage Technology Pte Ltd.<sup>(d)</sup>  | Seagate Data Storage Technology Pte Ltd.<sup>(d)</sup>  | Seagate Data Storage Technology Pte Ltd.<sup>(d)</sup>  |
| 12/15/2029 | &nbsp;&nbsp; 8.250% | 809000 | &nbsp;&nbsp; 853606 |
| 07/15/2031 | &nbsp;&nbsp; 8.500% | 898000 | &nbsp;&nbsp; 950664 |
| Sensata Technologies, Inc.<sup>(d)</sup>  | Sensata Technologies, Inc.<sup>(d)</sup>  | Sensata Technologies, Inc.<sup>(d)</sup>  | Sensata Technologies, Inc.<sup>(d)</sup>  |
| 07/15/2032 | &nbsp;&nbsp; 6.625% | 1346000 | &nbsp;&nbsp; 1406539 |
| Shift4 Payments LLC/Finance Sub, Inc.<sup>(d)</sup>  | Shift4 Payments LLC/Finance Sub, Inc.<sup>(d)</sup>  | Shift4 Payments LLC/Finance Sub, Inc.<sup>(d)</sup>  | Shift4 Payments LLC/Finance Sub, Inc.<sup>(d)</sup>  |
| 08/15/2032 | &nbsp;&nbsp; 6.750% | 1913000 | &nbsp;&nbsp; 1951524 |
| Synaptics, Inc.<sup>(d)</sup>  | Synaptics, Inc.<sup>(d)</sup>  | Synaptics, Inc.<sup>(d)</sup>  | Synaptics, Inc.<sup>(d)</sup>  |
| 06/15/2029 | &nbsp;&nbsp; 4.000% | 1559000 | &nbsp;&nbsp; 1511769 |
| UKG, Inc.<sup>(d)</sup>  | UKG, Inc.<sup>(d)</sup>  | UKG, Inc.<sup>(d)</sup>  | UKG, Inc.<sup>(d)</sup>  |
| 02/01/2031 | &nbsp;&nbsp; 6.875% | 1343000 | &nbsp;&nbsp; 1342274 |
| WEX, Inc.<sup>(d)</sup>  | WEX, Inc.<sup>(d)</sup>  | WEX, Inc.<sup>(d)</sup>  | WEX, Inc.<sup>(d)</sup>  |
| 03/15/2033 | &nbsp;&nbsp; 6.500% | 1415000 | &nbsp;&nbsp; 1445775 |
| WULF Compute LLC<sup>(d)</sup>  | WULF Compute LLC<sup>(d)</sup>  | WULF Compute LLC<sup>(d)</sup>  | WULF Compute LLC<sup>(d)</sup>  |
| 10/15/2030 | &nbsp;&nbsp; 7.750% | 877000 | &nbsp;&nbsp; 914591 |
| ZoomInfo Technologies LLC/Finance Corp.<sup>(d)</sup>  | ZoomInfo Technologies LLC/Finance Corp.<sup>(d)</sup>  | ZoomInfo Technologies LLC/Finance Corp.<sup>(d)</sup>  | ZoomInfo Technologies LLC/Finance Corp.<sup>(d)</sup>  |
| 02/01/2029 | &nbsp;&nbsp; 3.875% | 3027000 | &nbsp;&nbsp; 2766260 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **71667164** |
| **Transportation Services 0.5%** | **Transportation Services 0.5%** | **Transportation Services 0.5%** | **Transportation Services 0.5%** |
| Avis Budget Car Rental LLC/Finance, Inc.<sup>(d)</sup>  | Avis Budget Car Rental LLC/Finance, Inc.<sup>(d)</sup>  | Avis Budget Car Rental LLC/Finance, Inc.<sup>(d)</sup>  | Avis Budget Car Rental LLC/Finance, Inc.<sup>(d)</sup>  |
| 02/15/2031 | &nbsp;&nbsp; 8.000% | 1382000 | &nbsp;&nbsp; 1414521 |
| 06/15/2032 | &nbsp;&nbsp; 8.375% | 1899000 | &nbsp;&nbsp; 1953195 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3367716** |
| **Wireless 0.4%** | **Wireless 0.4%** | **Wireless 0.4%** | **Wireless 0.4%** |
| Vmed O2 UK Financing I PLC<sup>(d)</sup>  | Vmed O2 UK Financing I PLC<sup>(d)</sup>  | Vmed O2 UK Financing I PLC<sup>(d)</sup>  | Vmed O2 UK Financing I PLC<sup>(d)</sup>  |
| 07/15/2031 | &nbsp;&nbsp; 4.750% | 2084000 | &nbsp;&nbsp; 1906713 |
| 04/15/2032 | &nbsp;&nbsp; 7.750% | 1217000 | &nbsp;&nbsp; 1253352 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3160065** |
| **Wirelines 1.6%** | **Wirelines 1.6%** | **Wirelines 1.6%** | **Wirelines 1.6%** |
| Fibercop SpA<sup>(d)</sup>  | Fibercop SpA<sup>(d)</sup>  | Fibercop SpA<sup>(d)</sup>  | Fibercop SpA<sup>(d)</sup>  |
| 07/18/2036 | &nbsp;&nbsp; 7.200% | 233000 | &nbsp;&nbsp; 236626 |
| Frontier Communications Holdings LLC<sup>(d)</sup>  | Frontier Communications Holdings LLC<sup>(d)</sup>  | Frontier Communications Holdings LLC<sup>(d)</sup>  | Frontier Communications Holdings LLC<sup>(d)</sup>  |
| 05/15/2030 | &nbsp;&nbsp; 8.750% | 2256000 | &nbsp;&nbsp; 2326465 |
| 03/15/2031 | &nbsp;&nbsp; 8.625% | 1278000 | &nbsp;&nbsp; 1337290 |
| Iliad Holding SAS<sup>(d)</sup>  | Iliad Holding SAS<sup>(d)</sup>  | Iliad Holding SAS<sup>(d)</sup>  | Iliad Holding SAS<sup>(d)</sup>  |
| 10/15/2028 | &nbsp;&nbsp; 7.000% | 2192000 | &nbsp;&nbsp; 2214895 |
| Iliad Holding SASU<sup>(d)</sup>  | Iliad Holding SASU<sup>(d)</sup>  | Iliad Holding SASU<sup>(d)</sup>  | Iliad Holding SASU<sup>(d)</sup>  |
| 04/15/2031 | &nbsp;&nbsp; 8.500% | 655000 | &nbsp;&nbsp; 701752 |
| 04/15/2032 | &nbsp;&nbsp; 7.000% | 993000 | &nbsp;&nbsp; 1017996 |
| Level 3 Financing, Inc.<sup>(d)</sup>  | Level 3 Financing, Inc.<sup>(d)</sup>  | Level 3 Financing, Inc.<sup>(d)</sup>  | Level 3 Financing, Inc.<sup>(d)</sup>  |
| 01/15/2036 | &nbsp;&nbsp; 8.500% | 243000 | &nbsp;&nbsp; 248883 |
| Optics Bidco SpA<sup>(d)</sup>  | Optics Bidco SpA<sup>(d)</sup>  | Optics Bidco SpA<sup>(d)</sup>  | Optics Bidco SpA<sup>(d)</sup>  |
| 06/04/2038 | &nbsp;&nbsp; 7.721% | 802000 | &nbsp;&nbsp; 825246 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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> **($)**<br>| **Value ($)** |
| Windstream Escrow LLC/Finance Corp.<sup>(d)</sup>  | Windstream Escrow LLC/Finance Corp.<sup>(d)</sup>  | Windstream Escrow LLC/Finance Corp.<sup>(d)</sup>  | Windstream Escrow LLC/Finance Corp.<sup>(d)</sup>  |
| 10/01/2031 | &nbsp;&nbsp; 8.250% | 1776000 | &nbsp;&nbsp; 1860918 |
| Windstream Services LLC<sup>(d)</sup>  | Windstream Services LLC<sup>(d)</sup>  | Windstream Services LLC<sup>(d)</sup>  | Windstream Services LLC<sup>(d)</sup>  |
| 10/15/2033 | &nbsp;&nbsp; 7.500% | 923000 | &nbsp;&nbsp; 953729 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11723800** |
| Total Corporate Bonds & Notes <br>(Cost $660,172,433) | Total Corporate Bonds & Notes <br>(Cost $660,172,433) | Total Corporate Bonds & Notes <br>(Cost $660,172,433) | &nbsp;&nbsp; **669058727** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange-Traded Fixed Income Funds 1.4%** | **Exchange-Traded Fixed Income Funds 1.4%** | **Exchange-Traded Fixed Income Funds 1.4%** |
|  | **Shares** | **Value ($)** |
| **High Yield 1.4%** | **High Yield 1.4%** | **High Yield 1.4%** |
| Columbia Short Duration High Yield ETF<sup>(k)</sup> <br>| &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 9874600 |
| Total Exchange-Traded Fixed Income Funds <br>(Cost $9,756,775) | Total Exchange-Traded Fixed Income Funds <br>(Cost $9,756,775) | &nbsp;&nbsp; **9874600** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Foreign Government Obligations**<sup>(l)</sup> **0.5%** | **Foreign Government Obligations**<sup>(l)</sup> **0.5%** | **Foreign Government Obligations**<sup>(l)</sup> **0.5%** | **Foreign Government Obligations**<sup>(l)</sup> **0.5%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Canada 0.5%** | **Canada 0.5%** | **Canada 0.5%** | **Canada 0.5%** |
| NOVA Chemicals Corp.<sup>(d)</sup>  | NOVA Chemicals Corp.<sup>(d)</sup>  | NOVA Chemicals Corp.<sup>(d)</sup>  | NOVA Chemicals Corp.<sup>(d)</sup>  |
| 11/15/2028 | &nbsp;&nbsp; 8.500% | 1369000 | &nbsp;&nbsp; 1432591 |
| 02/15/2030 | &nbsp;&nbsp; 9.000% | 1195000 | &nbsp;&nbsp; 1272855 |
| 12/01/2031 | &nbsp;&nbsp; 7.000% | 686000 | &nbsp;&nbsp; 732317 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3437763** |
| Total Foreign Government Obligations <br>(Cost $3,283,291) | Total Foreign Government Obligations <br>(Cost $3,283,291) | Total Foreign Government Obligations <br>(Cost $3,283,291) | &nbsp;&nbsp; **3437763** |
| **Senior Loans 1.4%** | **Senior Loans 1.4%** | **Senior Loans 1.4%** | **Senior Loans 1.4%** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Airlines 0.1%** | **Airlines 0.1%** | **Airlines 0.1%** | **Airlines 0.1%** |
| AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(m),(n)</sup>  | AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(m),(n)</sup>  | AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(m),(n)</sup>  | AAdvantage Loyalty IP Ltd./American Airlines, Inc.<sup>(m),(n)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 3-month Term SOFR + 3.250% <br>05/28/2032<br>| &nbsp;&nbsp; 6.918% | 750330 | &nbsp;&nbsp; 751080 |
| **Building Materials 0.2%** | **Building Materials 0.2%** | **Building Materials 0.2%** | **Building Materials 0.2%** |
| CP Atlas Buyer, Inc.<sup>(m),(n)</sup>  | CP Atlas Buyer, Inc.<sup>(m),(n)</sup>  | CP Atlas Buyer, Inc.<sup>(m),(n)</sup>  | CP Atlas Buyer, Inc.<sup>(m),(n)</sup>  |
| Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan | Tranche B Term Loan |
| 1-month Term SOFR + 5.250% <br>07/08/2030<br>| &nbsp;&nbsp; 8.922% | 1266670 | &nbsp;&nbsp; 1242021 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** | **Senior Loans (continued)** |
| **Borrower** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount** <br> **($)**<br>| **Value ($)** |
| **Chemicals 0.3%** | **Chemicals 0.3%** | **Chemicals 0.3%** | **Chemicals 0.3%** |
| Ineos Quattro Holdings UK Ltd.<sup>(m),(n)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(m),(n)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(m),(n)</sup>  | Ineos Quattro Holdings UK Ltd.<sup>(m),(n)</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; 8.022% | 766101 | &nbsp;&nbsp; 529246 |
| Ineos US Finance LLC<sup>(m),(n)</sup>  | Ineos US Finance LLC<sup>(m),(n)</sup>  | Ineos US Finance LLC<sup>(m),(n)</sup>  | Ineos US Finance LLC<sup>(m),(n)</sup>  |
| Term Loan | Term Loan | Term Loan | Term Loan |
| 1-month Term SOFR + 3.250% <br>02/19/2030<br>| &nbsp;&nbsp; 6.922% | 2243079 | &nbsp;&nbsp; 1615016 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2144262** |
| **Technology 0.8%** | **Technology 0.8%** | **Technology 0.8%** | **Technology 0.8%** |
| Ascend Learning LLC<sup>(m),(n)</sup>  | Ascend Learning LLC<sup>(m),(n)</sup>  | Ascend Learning LLC<sup>(m),(n)</sup>  | Ascend Learning LLC<sup>(m),(n)</sup>  |
| 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; 6.672% | 3975092 | &nbsp;&nbsp; 3924171 |
| McAfee Corp.<sup>(m),(n)</sup>  | McAfee Corp.<sup>(m),(n)</sup>  | McAfee Corp.<sup>(m),(n)</sup>  | McAfee Corp.<sup>(m),(n)</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; 6.672% | 1914580 | &nbsp;&nbsp; 1689617 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5613788** |
| Total Senior Loans <br>(Cost $10,698,861) | Total Senior Loans <br>(Cost $10,698,861) | Total Senior Loans <br>(Cost $10,698,861) | &nbsp;&nbsp; **9751151** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Money Market Funds 2.9%** | **Money Market Funds 2.9%** | **Money Market Funds 2.9%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(k),(o)</sup> <br>| &nbsp;&nbsp; 21330191 | &nbsp;&nbsp; 21323792 |
| Total Money Market Funds <br>(Cost $21,319,847) | Total Money Market Funds <br>(Cost $21,319,847) | &nbsp;&nbsp; **21323792** |
| **Total Investments in Securities** <br>**(Cost: $712,001,211)** | **Total Investments in Securities** <br>**(Cost: $712,001,211)** | &nbsp;&nbsp; **717104667** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **8314945** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **725419612** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2026, the total value of these securities amounted to $62, which represents less than 0.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Non-income producing investment.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Valuation based on significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $622,453,526, which represents 85.81% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Perpetual security with no specified maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Represents a security purchased on a forward commitment basis.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Represents a security in default.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Represents a security purchased on a when-issued basis.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Notes to Portfolio of Investments (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;(k) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended January 31, 2026 are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Capital gain** <br>**distributions($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends —** <br>**affiliated** <br>**issuers ($)**<br>| **End of** <br>**period shares**<br>|
| Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  | Columbia Short Duration High Yield ETF  |
|  | 7077350 | 2735775 |  | 61475 | 9874600 | 5553 |  | 268198 | 485000 |
| Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  | Columbia Short-Term Cash Fund, 3.776%  |
|  | 29337103 | 89143436 | (97157429)<br>| 682 | 21323792 |  | (409)<br>| 475065 | 21330191 |
| Total | 36414453 |  |  | 62157 | 31198392 | 5553 | (409)<br>| 743263 |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(l) Principal and interest may not be guaranteed by a governmental entity.

&nbsp;&nbsp;&nbsp;&nbsp;(m) The stated interest rate represents the weighted average interest rate at January 31, 2026 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;(n) Variable rate security. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(o) The rate shown is the seven-day current annualized yield at January 31, 2026.

**Abbreviation Legend** 

SOFR Secured Overnight Financing Rate

**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 accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| Communication Services | 2933 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 2995 |
| Consumer Discretionary | 68029 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 68029 |
| Industrials | 7944 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7944 |
| Utilities |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0<br> \*<br>|
| Total Common Stocks | 78906 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 78968 |
| Convertible Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp; 3579666 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3579666 |
| Corporate Bonds & Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 669058727 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 669058727 |
| Exchange-Traded Fixed Income Funds | 9874600 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9874600 |
| Foreign Government Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 3437763 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3437763 |
| Senior Loans |  | &nbsp;&nbsp;&nbsp;&nbsp; 9751151 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9751151 |
| Money Market Funds | 21323792 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21323792 |
| Total Investments in Securities | 31277298 | &nbsp;&nbsp;&nbsp;&nbsp; 685827307 | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 717104667 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Rounds to zero.

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

The Fund does not hold any significant investments (greater than one percent of net assets) categorized as Level 3.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

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Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $680,924,589) | $685906275 |
| Affiliated issuers (cost $31,076,622) | 31198392 |
| Cash | 49834 |
| Receivable for: |  |
| Investments sold | 441056 |
| Investments sold on a delayed delivery basis  | 2303169 |
| Capital shares sold | 3362245 |
| Dividends | 64733 |
| Interest | 12140973 |
| Foreign tax reclaims | 18366 |
| Expense reimbursement due from Investment Manager | 1910 |
| Prepaid expenses | 4485 |
| Total assets | 735491438 |
| **Liabilities** |  |
| Payable for: |  |
| Investments purchased | 2407577 |
| Investments purchased on a delayed delivery basis | 2149956 |
| Capital shares redeemed | 1382707 |
| Distributions to shareholders | 3709186 |
| Management services fees | 12831 |
| Distribution and/or service fees | 1347 |
| Transfer agent fees | 49852 |
| Compensation of chief compliance officer | 60 |
| Compensation of board members | 956 |
| Other expenses | 45110 |
| Deferred compensation of board members | 312244 |
| Total liabilities | 10071826 |
| **Net assets applicable to outstanding capital stock** | **$725419612** |
| **Represented by** |  |
| Paid in capital | 768539936 |
| Total distributable earnings (loss) | (43120324)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$725419612** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Statement of Assets and Liabilities (continued)

January 31, 2026 (Unaudited)

---

| | |
|:---|:---|
| **Class A** |  |
| Net assets | $176217991 |
| Shares outstanding | 19775020 |
| Net asset value per share | $8.91 |
| Maximum sales charge  | 4.75% |
| Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.35 |
| **Class C** |  |
| Net assets | $5207787 |
| Shares outstanding | 585017 |
| Net asset value per share | $8.90 |
| **Institutional Class** |  |
| Net assets | $292893465 |
| Shares outstanding | 32797652 |
| Net asset value per share | $8.93 |
| **Institutional 2 Class** |  |
| Net assets | $86846761 |
| Shares outstanding | 9718266 |
| Net asset value per share | $8.94 |
| **Institutional 3 Class** |  |
| Net assets | $153336685 |
| Shares outstanding | 17181895 |
| Net asset value per share | $8.92 |
| **Class S** |  |
| Net assets | $10916923 |
| Shares outstanding | 1222621 |
| Net asset value per share | $8.93 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $1089 |
| Dividends — affiliated issuers | 743263 |
| Interest | 23632943 |
| Foreign taxes withheld | (57)<br>|
| Total income | 24377238 |
| Expenses: |  |
| Management services fees | 2371036 |
| Distribution and/or service fees |  |
| Class A | 226004 |
| Class C | 27075 |
| Transfer agent fees |  |
| Class A | 101723 |
| Class C | 3048 |
| Institutional Class | 161977 |
| Institutional 2 Class | 25663 |
| Institutional 3 Class | 3154 |
| Class S | 6449 |
| Custodian fees | 4322 |
| Printing and postage fees | 32604 |
| Registration fees | 51951 |
| Accounting services fees | 16256 |
| Legal fees | 13884 |
| Compensation of chief compliance officer | 59 |
| Compensation of board members | 9434 |
| Deferred compensation of board members | 33172 |
| Other | 13111 |
| Total expenses | 3100922 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (385330)<br>|
| Expense reduction | (200)<br>|
| Total net expenses | 2715392 |
| **Net investment income** | 21661846 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 294420 |
| Investments — affiliated issuers | (409)<br>|
| Capital gain distributions from underlying affiliated funds | 5553 |
| Net realized gain | 299564 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 3396736 |
| Investments — affiliated issuers | 62157 |
| Net change in unrealized appreciation (depreciation) | 3458893 |
| Net realized and unrealized gain | 3758457 |
| **Net increase in net assets resulting from operations** | **$25420303** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

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Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $21661846 | &nbsp;&nbsp; $41392557 |
| Net realized gain (loss) | 299564 | &nbsp;&nbsp; (1036575)<br>|
| Net change in unrealized appreciation (depreciation) | 3458893 | &nbsp;&nbsp; 10900433 |
| Net increase in net assets resulting from operations | 25420303 | &nbsp;&nbsp; 51256415 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (5207225)<br>| &nbsp;&nbsp; (10473360)<br>|
| Advisor Class |  | &nbsp;&nbsp; (99740)<br>|
| Class C | (135481)<br>| &nbsp;&nbsp; (271041)<br>|
| Institutional Class | (8665199)<br>| &nbsp;&nbsp; (15537141)<br>|
| Institutional 2 Class | (2846550)<br>| &nbsp;&nbsp; (5730066)<br>|
| Institutional 3 Class | (4701752)<br>| &nbsp;&nbsp; (8685074)<br>|
| Class S | (344394)<br>| &nbsp;&nbsp; (650227)<br>|
| Total distributions to shareholders | (21900601)<br>| &nbsp;&nbsp; (41446649)<br>|
| Decrease in net assets from capital stock activity | (2281492)<br>| &nbsp;&nbsp; (51940848)<br>|
| Total increase (decrease) in net assets | 1238210 | &nbsp;&nbsp; (42131082)<br>|
| Net assets at beginning of period | 724181402 | &nbsp;&nbsp; 766312484 |
| **Net assets at end of period** | **$725419612** | &nbsp;&nbsp; **$724181402** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Statement of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 608654 | &nbsp;&nbsp;&nbsp;&nbsp; 5423056 | &nbsp;&nbsp;&nbsp;&nbsp; 1845164 | &nbsp;&nbsp;&nbsp;&nbsp; 16160906 |
| Distributions reinvested | 525735 | &nbsp;&nbsp;&nbsp;&nbsp; 4688656 | &nbsp;&nbsp;&nbsp;&nbsp; 1073700 | &nbsp;&nbsp;&nbsp;&nbsp; 9438937 |
| Shares redeemed | (1945139)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (17330219)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4548632)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (39883553)<br>|
| Net decrease | (810750)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7218507)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1629768)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (14283710)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34633 | &nbsp;&nbsp;&nbsp;&nbsp; 306445 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9058 | &nbsp;&nbsp;&nbsp;&nbsp; 80238 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (755350)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6659999)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (711659)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6273316)<br>|
| Class C |  |  |  |  |
| Shares sold | 30643 | &nbsp;&nbsp;&nbsp;&nbsp; 273026 | &nbsp;&nbsp;&nbsp;&nbsp; 132665 | &nbsp;&nbsp;&nbsp;&nbsp; 1163591 |
| Distributions reinvested | 15079 | &nbsp;&nbsp;&nbsp;&nbsp; 134354 | &nbsp;&nbsp;&nbsp;&nbsp; 30551 | &nbsp;&nbsp;&nbsp;&nbsp; 268321 |
| Shares redeemed | (86327)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (768471)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (205322)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1800862)<br>|
| Net decrease | (40605)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (361091)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (42106)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (368950)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 3183329 | &nbsp;&nbsp;&nbsp;&nbsp; 28422875 | &nbsp;&nbsp;&nbsp;&nbsp; 7256353 | &nbsp;&nbsp;&nbsp;&nbsp; 63986432 |
| Distributions reinvested | 912009 | &nbsp;&nbsp;&nbsp;&nbsp; 8151686 | &nbsp;&nbsp;&nbsp;&nbsp; 1630055 | &nbsp;&nbsp;&nbsp;&nbsp; 14362339 |
| Shares redeemed | (2894914)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (25844793)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9202313)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (81009148)<br>|
| Net increase (decrease) | 1200424 | &nbsp;&nbsp;&nbsp;&nbsp; 10729768 | &nbsp;&nbsp;&nbsp;&nbsp; (315905)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2660377)<br>|
| Institutional 2 Class |  |  |  |  |
| Shares sold | 1038186 | &nbsp;&nbsp;&nbsp;&nbsp; 9277266 | &nbsp;&nbsp;&nbsp;&nbsp; 1990083 | &nbsp;&nbsp;&nbsp;&nbsp; 17524296 |
| Distributions reinvested | 317548 | &nbsp;&nbsp;&nbsp;&nbsp; 2839913 | &nbsp;&nbsp;&nbsp;&nbsp; 648017 | &nbsp;&nbsp;&nbsp;&nbsp; 5712551 |
| Shares redeemed | (2186498)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (19528570)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6985346)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (61543877)<br>|
| Net decrease | (830764)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7411391)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4347246)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (38307030)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 1016715 | &nbsp;&nbsp;&nbsp;&nbsp; 9074186 | &nbsp;&nbsp;&nbsp;&nbsp; 1840264 | &nbsp;&nbsp;&nbsp;&nbsp; 16146088 |
| Distributions reinvested | 283112 | &nbsp;&nbsp;&nbsp;&nbsp; 2528592 | &nbsp;&nbsp;&nbsp;&nbsp; 504710 | &nbsp;&nbsp;&nbsp;&nbsp; 4443722 |
| Shares redeemed | (990037)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8838040)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2535976)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (22304579)<br>|
| Net increase (decrease) | 309790 | &nbsp;&nbsp;&nbsp;&nbsp; 2764738 | &nbsp;&nbsp;&nbsp;&nbsp; (191002)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1714769)<br>|
| Class S |  |  |  |  |
| Shares sold | 25804 | &nbsp;&nbsp;&nbsp;&nbsp; 231031 | &nbsp;&nbsp;&nbsp;&nbsp; 1891739 | &nbsp;&nbsp;&nbsp;&nbsp; 16782034 |
| Distributions reinvested | 38537 | &nbsp;&nbsp;&nbsp;&nbsp; 344394 | &nbsp;&nbsp;&nbsp;&nbsp; 73939 | &nbsp;&nbsp;&nbsp;&nbsp; 650131 |
| Shares redeemed | (152245)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1360434)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (655153)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5764861)<br>|
| Net increase (decrease) | (87904)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (785009)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1310525 | &nbsp;&nbsp;&nbsp;&nbsp; 11667304 |
| **Total net decrease** | **(259809)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(2281492)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(5927161)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(51940848)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

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Columbia Income Opportunities Fund \| 2026

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Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.87 | 0.25 | 0.05 | 0.30 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.26)<br>|
| Year Ended 7/31/2025 | $8.75 | 0.49 | 0.12 | 0.61 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.49)<br>|
| Year Ended 7/31/2024 | $8.44 | 0.47 | 0.31 | 0.78 | &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.47)<br>|
| Year Ended 7/31/2023 | $8.63 | 0.43 | &nbsp;&nbsp; (0.18)<br>| 0.25 | &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.44)<br>|
| Year Ended 7/31/2022 | $9.96 | 0.38 | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.67)<br>|
| Year Ended 7/31/2021 | $9.67 | 0.41 | 0.33 | 0.74 | &nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.45)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.86 | 0.22 | 0.04 | 0.26 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.22)<br>|
| Year Ended 7/31/2025 | $8.74 | 0.42 | 0.12 | 0.54 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.42)<br>|
| Year Ended 7/31/2024 | $8.43 | 0.40 | 0.32 | 0.72 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.41)<br>|
| Year Ended 7/31/2023 | $8.62 | 0.36 | &nbsp;&nbsp; (0.18)<br>| 0.18 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| Year Ended 7/31/2022 | $9.95 | 0.31 | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.60)<br>|
| Year Ended 7/31/2021 | $9.66 | 0.34 | 0.33 | 0.67 | &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.38)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.89 | 0.27 | 0.04 | 0.31 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2025 | $8.77 | 0.51 | 0.12 | 0.63 | &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.51)<br>|
| Year Ended 7/31/2024 | $8.46 | 0.49 | 0.31 | 0.80 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.49)<br>|
| Year Ended 7/31/2023 | $8.65 | 0.45 | &nbsp;&nbsp; (0.18)<br>| 0.27 | &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2022 | $9.98 | 0.40 | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.69)<br>|
| Year Ended 7/31/2021 | $9.69 | 0.44 | 0.33 | 0.77 | &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.48)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.89 | 0.27 | 0.05 | 0.32 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2025 | $8.77 | 0.52 | 0.12 | 0.64 | &nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.52)<br>|
| Year Ended 7/31/2024 | $8.46 | 0.49 | 0.32 | 0.81 | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.50)<br>|
| Year Ended 7/31/2023 | $8.66 | 0.46 | &nbsp;&nbsp; (0.20)<br>| 0.26 | &nbsp;&nbsp; (0.46)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.46)<br>|
| Year Ended 7/31/2022 | $9.99 | 0.41 | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.70)<br>|
| Year Ended 7/31/2021 | $9.70 | 0.45 | 0.33 | 0.78 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.49)<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.91 | &nbsp;&nbsp;&nbsp;&nbsp; 3.39% | &nbsp;&nbsp;&nbsp;&nbsp; 1.06% | &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.70% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $176218 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.87 | &nbsp;&nbsp;&nbsp;&nbsp; 7.16% | &nbsp;&nbsp;&nbsp;&nbsp; 1.06% | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.57% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $182547 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $8.75 | &nbsp;&nbsp;&nbsp;&nbsp; 9.54% | &nbsp;&nbsp;&nbsp;&nbsp; 1.07% | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.47% | &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $194321 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.44 | &nbsp;&nbsp;&nbsp;&nbsp; 3.05% | &nbsp;&nbsp;&nbsp;&nbsp; 1.08% | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.12% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $207301 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.63 | &nbsp;&nbsp;&nbsp;&nbsp; (6.99%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.05% | &nbsp;&nbsp;&nbsp;&nbsp; 0.95% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.10% | &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $236681 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.96 | &nbsp;&nbsp;&nbsp;&nbsp; 7.85% | &nbsp;&nbsp;&nbsp;&nbsp; 1.15% | &nbsp;&nbsp;&nbsp;&nbsp; 1.01% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.18% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $291523 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.90 | &nbsp;&nbsp;&nbsp;&nbsp; 3.00% | &nbsp;&nbsp;&nbsp;&nbsp; 1.81% | &nbsp;&nbsp;&nbsp;&nbsp; 1.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.95% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $5208 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.86 | &nbsp;&nbsp;&nbsp;&nbsp; 6.37% | &nbsp;&nbsp;&nbsp;&nbsp; 1.81% | &nbsp;&nbsp;&nbsp;&nbsp; 1.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.82% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $5542 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $8.74 | &nbsp;&nbsp;&nbsp;&nbsp; 8.73% | &nbsp;&nbsp;&nbsp;&nbsp; 1.82% | &nbsp;&nbsp;&nbsp;&nbsp; 1.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.72% | &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $5835 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.43 | &nbsp;&nbsp;&nbsp;&nbsp; 2.28% | &nbsp;&nbsp;&nbsp;&nbsp; 1.82% | &nbsp;&nbsp;&nbsp;&nbsp; 1.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.35% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $5905 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.62 | &nbsp;&nbsp;&nbsp;&nbsp; (7.70%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.80% | &nbsp;&nbsp;&nbsp;&nbsp; 1.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.33% | &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $8365 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.95 | &nbsp;&nbsp;&nbsp;&nbsp; 7.04% | &nbsp;&nbsp;&nbsp;&nbsp; 1.90% | &nbsp;&nbsp;&nbsp;&nbsp; 1.77% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.43% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $11626 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.93 | &nbsp;&nbsp;&nbsp;&nbsp; 3.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.95% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $292893 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.89 | &nbsp;&nbsp;&nbsp;&nbsp; 7.42% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.82% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $280799 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $8.77 | &nbsp;&nbsp;&nbsp;&nbsp; 9.80% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.73% | &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $279753 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.46 | &nbsp;&nbsp;&nbsp;&nbsp; 3.32% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.36% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $190837 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.65 | &nbsp;&nbsp;&nbsp;&nbsp; (6.74%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.34% | &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $205801 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.98 | &nbsp;&nbsp;&nbsp;&nbsp; 8.11% | &nbsp;&nbsp;&nbsp;&nbsp; 0.91% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.46% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $277062 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.94 | &nbsp;&nbsp;&nbsp;&nbsp; 3.66% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 6.00% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $86847 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.89 | &nbsp;&nbsp;&nbsp;&nbsp; 7.50% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 5.87% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $93810 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $8.77 | &nbsp;&nbsp;&nbsp;&nbsp; 9.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 5.79% | &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $130682 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.46 | &nbsp;&nbsp;&nbsp;&nbsp; 3.27% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% | &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 5.44% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $146855 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.66 | &nbsp;&nbsp;&nbsp;&nbsp; (6.66%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp;&nbsp; 0.63% | &nbsp;&nbsp;&nbsp;&nbsp; 4.44% | &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $138972 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.99 | &nbsp;&nbsp;&nbsp;&nbsp; 8.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.74% | &nbsp;&nbsp;&nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp;&nbsp; 4.55% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $131971 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.88 | 0.27 | 0.04 | 0.31 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2025 | $8.76 | 0.52 | 0.12 | 0.64 | &nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.52)<br>|
| Year Ended 7/31/2024 | $8.45 | 0.50 | 0.31 | 0.81 | &nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.50)<br>|
| Year Ended 7/31/2023 | $8.64 | 0.46 | &nbsp;&nbsp; (0.18)<br>| 0.28 | &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.47)<br>|
| Year Ended 7/31/2022 | $9.97 | 0.41 | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; (0.70)<br>|
| Year Ended 7/31/2021 | $9.69 | 0.45 | 0.32 | 0.77 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.49)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | $8.89 | 0.27 | 0.04 | 0.31 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2025<sup>(d)</sup> <br>| $8.89 | 0.43 | &nbsp;&nbsp; (0.01 )<sup>(e)</sup><br>| 0.42 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.42)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
| (d) | Class S shares commenced operations on October 2, 2024. Per share data and total return reflect activity from that date. |
| (e) | 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. For a new share class, the difference may be due to the timing of the commencement of operations for the share class. |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.92 | &nbsp;&nbsp;&nbsp;&nbsp; 3.57% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 6.06% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $153337 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $8.88 | &nbsp;&nbsp;&nbsp;&nbsp; 7.55% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 5.93% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $149839 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $8.76 | &nbsp;&nbsp;&nbsp;&nbsp; 9.94% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 5.84% | &nbsp;&nbsp;&nbsp;&nbsp; 41% | &nbsp;&nbsp;&nbsp;&nbsp; $149476 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.45 | &nbsp;&nbsp;&nbsp;&nbsp; 3.44% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 5.48% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $137457 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $8.64 | &nbsp;&nbsp;&nbsp;&nbsp; (6.64%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.68% | &nbsp;&nbsp;&nbsp;&nbsp; 0.58% | &nbsp;&nbsp;&nbsp;&nbsp; 4.46% | &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp;&nbsp; $155887 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.97 | &nbsp;&nbsp;&nbsp;&nbsp; 8.19% | &nbsp;&nbsp;&nbsp;&nbsp; 0.68% | &nbsp;&nbsp;&nbsp;&nbsp; 0.61% | &nbsp;&nbsp;&nbsp;&nbsp; 4.61% | &nbsp;&nbsp;&nbsp;&nbsp; 58% | &nbsp;&nbsp;&nbsp;&nbsp; $199959 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $8.93 | &nbsp;&nbsp;&nbsp;&nbsp; 3.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.95% | &nbsp;&nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp;&nbsp; $10917 |
|  Year Ended 7/31/2025 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $8.89 | &nbsp;&nbsp;&nbsp;&nbsp; 4.93% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% | &nbsp;&nbsp;&nbsp;&nbsp; 5.91% | &nbsp;&nbsp;&nbsp;&nbsp; 43% | &nbsp;&nbsp;&nbsp;&nbsp; $11645 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Income Opportunities Fund (the Fund), a series of Columbia Funds Series Trust II (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**Fund shares**

The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust's organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.

As described in the Fund's prospectus, Class A and Class C shares are offered to the general public for investment. Class C shares automatically convert to Class A shares after 8 years. Institutional Class, Institutional 2 Class, Institutional 3 Class and Class S shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Equity securities listed on an exchange are valued at the closing price or last trade price on their primary exchange at the close of business of the New York Stock Exchange. Securities with a closing price not readily available or not listed on any exchange are valued at the mean between the closing bid and ask prices. Listed preferred stocks convertible into common stocks are valued using an evaluated price from a pricing service.

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

Senior loan securities for which reliable market quotations are readily available are generally valued by pricing services at the average of the bids received.

Foreign equity securities are valued based on the closing price or last trade price on their primary exchange at the close of business of the New York Stock Exchange. If any foreign equity security closing prices are not readily available, the securities are valued at the mean of the latest quoted bid and ask prices on such exchanges or markets. Foreign currency exchange rates are determined at the scheduled closing time of the New York Stock Exchange. Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange; therefore, the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. In those situations, foreign securities will be fair valued pursuant to a policy approved by the Board of Trustees. Under the policy, the Fund may utilize a third-party pricing service to determine these fair values. The third-party pricing service takes into account multiple factors, including relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable, to determine a good faith estimate that reasonably reflects the current market conditions as of the close of the New York Stock Exchange. The fair value of a security is likely to be different from the quoted or published price, if available.

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**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.

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

**Delayed delivery securities**

The Fund may trade securities on other than normal settlement terms, including securities purchased or sold on a "when-issued" or "forward commitment" basis. This may increase risk to the Fund since the other party to the transaction may fail to deliver, which could cause the Fund to subsequently invest at less advantageous prices. The Fund designates cash or liquid securities in an amount equal to the delayed delivery commitment.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

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. 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 generally recorded net of any non-reclaimable tax withholdings, on the ex-dividend date or upon receipt of an ex-dividend notification in the case of certain foreign securities.

The Fund may receive distributions from holdings in equity securities, business development companies (BDCs), exchange-traded funds (ETFs), limited partnerships (LPs), other regulated investment companies (RICs), and real estate investment trusts (REITs), which report information as to the tax character of their distributions annually. These distributions are allocated to dividend income, capital gain and return of capital based on actual information reported. Return of capital is recorded as a reduction of the cost basis of securities held. If the Fund no longer owns the applicable securities, return of capital is recorded as a realized gain. With respect to REITs, to the extent actual information has not yet been reported, estimates for return of capital are made by Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). The Investment Manager's estimates are subsequently adjusted when the actual character of the distributions is disclosed by the REITs, which could result in a proportionate change in return of capital to shareholders.

Awards from class action litigation are recorded as a reduction of cost basis if the Fund still owns the applicable securities on the payment date. If the Fund no longer owns the applicable securities on the payment date, the proceeds are recorded as realized gains.

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.

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Income and capital gain distributions from investments in underlying funds, if any, are recorded on the ex-dividend date.

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

**Foreign taxes**

The Fund may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Fund will accrue such taxes and recoveries, as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests.

Realized gains in certain countries may be subject to foreign taxes at the Fund level, based on statutory rates. The Fund accrues for such foreign taxes on realized and unrealized gains at the appropriate rate for each jurisdiction, as applicable. The amount, if any, is disclosed as a liability in the Statement of Assets and Liabilities.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.66% to 0.40% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.64% of the Fund's average daily net assets.

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The Investment Manager has contractually agreed to implement a waiver with respect to Fund assets invested in funds that pay a management or advisory fee to the Investment Manager or its affiliate (underlying affiliated funds). Under this arrangement, the Investment Manager waives its net management fee (management fee less reimbursements/waivers) with respect to the Fund in an amount equal to the net management or advisory fee (fee less reimbursement/waivers) payable by an underlying affiliated fund on the assets invested by the Fund in the underlying affiliated fund.

**Compensation of Board members**

Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund's liability for these amounts is adjusted for market value changes and remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees' fees deferred during the current period as well as any gains or losses on the Trustees' deferred compensation balances as a result of market fluctuations, is included in "Deferred compensation of board members" in the Statement of Operations.

**Compensation of Chief Compliance Officer**

The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer's total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.11 |
| Class C | 0.11 |
| Institutional Class | 0.11 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |
| Class S | 0.11 |

---

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $200.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and 1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $871,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.

**Sales charges** 

Sales charges, including front-end charges and CDSCs, received by the Distributor for distributing Fund shares for the six months ended January 31, 2026, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 4.75<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 30251 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 404 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.

The Fund's other share classes are not subject to sales charges.

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.96 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.71 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.65 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.60 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 |

---

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

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 712001000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17258000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12154000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5104000 |

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

The following capital loss carryforwards, determined at July 31, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code.

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
| (5942766)<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; (41398057)<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; (47340823)<br>|

---

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $153,926,235 and $159,921,049, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Affiliated money market fund

The Fund invests in Columbia Short-Term Cash Fund, an affiliated money market fund established for the exclusive use by the Fund and other affiliated funds (the Affiliated MMF). The income earned by the Fund from such investments is included as Dividends - affiliated issuers in the Statement of Operations. As an investing fund, the Fund indirectly bears its proportionate share of the expenses of the Affiliated MMF. The Affiliated MMF prices its shares with a floating net asset value. The Securities and Exchange Commission has adopted amendments to money market fund rules requiring institutional prime money market funds like the Affiliated MMF to be subject to a discretionary liquidity fee of up to 2% if the imposition of such a fee is determined to be in the best interest of the Affiliated MMF and to a mandatory liquidity fee if daily net redemptions exceed 5% of net assets.

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 7. Interfund lending

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.

Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager's relationship with each Participating Fund.

The Fund did not borrow or lend money under the Interfund Program during the six months ended January 31, 2026.

Note 8. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 9. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

Columbia Income Opportunities Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 46.6% 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 Income Opportunities Fund \| 2026

------

[THIS PAGE INTENTIONALLY LEFT BLANK]

------

**Columbia Income Opportunities Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img4f95df6c2.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR164_07_T01_(03/26)

------

![](g80035img9b9ef01d1.jpg)

Columbia Minnesota Tax-Exempt Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_f16c229d-061e-43b8-9dff-5340ade4980c_POI-CommonContent-Date-105_1) | 3 |
| [Statement of Assets and Liabilities](#xx_f16c229d-061e-43b8-9dff-5340ade4980c_FS-CommonContent-Date-105_1) | 13 |
| [Statement of Operations](#xx_f16c229d-061e-43b8-9dff-5340ade4980c_FS-CommonContent-Date-105_2) | 14 |
| [Statement of Changes in Net Assets](#xx_f16c229d-061e-43b8-9dff-5340ade4980c_FS-CommonContent-Date-105_3) | 15 |
| [Financial Highlights](#xx_f16c229d-061e-43b8-9dff-5340ade4980c_FIHI-CommonContent-Date-105_2) | 18 |
| [Notes to Financial Statements](#xx_f16c229d-061e-43b8-9dff-5340ade4980c_NTF-CommonContent-Date-105_1) | 22 |

---

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds 93.2%** | **Municipal Bonds 93.2%** | **Municipal Bonds 93.2%** | **Municipal Bonds 93.2%** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Airport 2.4%** | **Airport 2.4%** | **Airport 2.4%** | **Airport 2.4%** |
| Minneapolis-St. Paul Metropolitan Airports Commission | Minneapolis-St. Paul Metropolitan Airports Commission | Minneapolis-St. Paul Metropolitan Airports Commission | Minneapolis-St. Paul Metropolitan Airports Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2016C | Series 2016C | Series 2016C | Series 2016C |
| 01/01/2046 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3019053 |
| Subordinated Series 2019A | Subordinated Series 2019A | Subordinated Series 2019A | Subordinated Series 2019A |
| 01/01/2049 | &nbsp;&nbsp; 5.000% | 2095000 | &nbsp;&nbsp; 2121483 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Subordinated Series 2024A | Subordinated Series 2024A | Subordinated Series 2024A | Subordinated Series 2024A |
| 01/01/2054 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2245503 |
| Minneapolis-St. Paul Metropolitan Airports Commission<sup>(a)</sup>  | Minneapolis-St. Paul Metropolitan Airports Commission<sup>(a)</sup>  | Minneapolis-St. Paul Metropolitan Airports Commission<sup>(a)</sup>  | Minneapolis-St. Paul Metropolitan Airports Commission<sup>(a)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Subordinated Series 2022B | Subordinated Series 2022B | Subordinated Series 2022B | Subordinated Series 2022B |
| 01/01/2047 | &nbsp;&nbsp; 5.000% | 2100000 | &nbsp;&nbsp; 2125887 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Private Activity | Private Activity | Private Activity | Private Activity |
| Subordinated Series 2024 | Subordinated Series 2024 | Subordinated Series 2024 | Subordinated Series 2024 |
| 01/01/2049 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 2054034 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11565960** |
| **Assisted Living 0.5%** | **Assisted Living 0.5%** | **Assisted Living 0.5%** | **Assisted Living 0.5%** |
| St. Cloud Housing & Redevelopment Authority<sup>(b)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(b)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(b)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sanctuary St. Cloud Project | Sanctuary St. Cloud Project | Sanctuary St. Cloud Project | Sanctuary St. Cloud Project |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 08/01/2036 | &nbsp;&nbsp; 4.000% | 2995000 | &nbsp;&nbsp; 2354940 |
| **Charter Schools 9.5%** | **Charter Schools 9.5%** | **Charter Schools 9.5%** | **Charter Schools 9.5%** |
| City of Bethel | City of Bethel | City of Bethel | City of Bethel |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Spectrum High School Project | Spectrum High School Project | Spectrum High School Project | Spectrum High School Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2027 | &nbsp;&nbsp; 3.500% | 630000 | &nbsp;&nbsp; 627048 |
| 07/01/2047 | &nbsp;&nbsp; 4.250% | 1000000 | &nbsp;&nbsp; 849427 |
| 07/01/2052 | &nbsp;&nbsp; 4.375% | 2255000 | &nbsp;&nbsp; 1884216 |
| City of Cologne | City of Cologne | City of Cologne | City of Cologne |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Cologne Academy Charter School Project | Cologne Academy Charter School Project | Cologne Academy Charter School Project | Cologne Academy Charter School Project |
| Series 2014A | Series 2014A | Series 2014A | Series 2014A |
| 07/01/2034 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1000401 |
| 07/01/2045 | &nbsp;&nbsp; 5.000% | 2070000 | &nbsp;&nbsp; 1950280 |
| City of Deephaven | City of Deephaven | City of Deephaven | City of Deephaven |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Eagle Ridge Academy Project | Eagle Ridge Academy Project | Eagle Ridge Academy Project | Eagle Ridge Academy Project |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 07/01/2040 | &nbsp;&nbsp; 5.250% | 400000 | &nbsp;&nbsp; 400214 |
| 07/01/2050 | &nbsp;&nbsp; 5.500% | 1500000 | &nbsp;&nbsp; 1500005 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| City of Deephaven<sup>(c)</sup>  | City of Deephaven<sup>(c)</sup>  | City of Deephaven<sup>(c)</sup>  | City of Deephaven<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Seven Hills Preparatory Academy Project | Seven Hills Preparatory Academy Project | Seven Hills Preparatory Academy Project | Seven Hills Preparatory Academy Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/15/2061 | &nbsp;&nbsp; 6.125% | 1800000 | &nbsp;&nbsp; 1651901 |
| City of Forest Lake | City of Forest Lake | City of Forest Lake | City of Forest Lake |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Lakes International Language Academy | Lakes International Language Academy | Lakes International Language Academy | Lakes International Language Academy |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 08/01/2036 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1018405 |
| 08/01/2050 | &nbsp;&nbsp; 5.375% | 3600000 | &nbsp;&nbsp; 3518241 |
| City of Independence | City of Independence | City of Independence | City of Independence |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Global Academy Charter Schools | Global Academy Charter Schools | Global Academy Charter Schools | Global Academy Charter Schools |
| Series 2021A | Series 2021A | Series 2021A | Series 2021A |
| 07/01/2041 | &nbsp;&nbsp; 4.000% | 1500000 | &nbsp;&nbsp; 1319452 |
| Global Academy Project | Global Academy Project | Global Academy Project | Global Academy Project |
| Series 2021A | Series 2021A | Series 2021A | Series 2021A |
| 07/01/2051 | &nbsp;&nbsp; 4.000% | 1400000 | &nbsp;&nbsp; 1075973 |
| Paladin Career & Technical High School | Paladin Career & Technical High School | Paladin Career & Technical High School | Paladin Career & Technical High School |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 06/01/2056 | &nbsp;&nbsp; 4.000% | 2305000 | &nbsp;&nbsp; 1575857 |
| City of Minneapolis<sup>(c)</sup>  | City of Minneapolis<sup>(c)</sup>  | City of Minneapolis<sup>(c)</sup>  | City of Minneapolis<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Friendship Academy of the Arts | Friendship Academy of the Arts | Friendship Academy of the Arts | Friendship Academy of the Arts |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 12/01/2052 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 1371562 |
| City of Minneapolis | City of Minneapolis | City of Minneapolis | City of Minneapolis |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Hennepin Schools Project | Hennepin Schools Project | Hennepin Schools Project | Hennepin Schools Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 07/01/2056 | &nbsp;&nbsp; 4.000% | 3470000 | &nbsp;&nbsp; 2101973 |
| Northeast College Prep Project | Northeast College Prep Project | Northeast College Prep Project | Northeast College Prep Project |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2040 | &nbsp;&nbsp; 5.000% | 435000 | &nbsp;&nbsp; 381258 |
| 07/01/2055 | &nbsp;&nbsp; 5.000% | 1410000 | &nbsp;&nbsp; 1043513 |
| City of Ramsey | City of Ramsey | City of Ramsey | City of Ramsey |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Pact Charter School Project | Pact Charter School Project | Pact Charter School Project | Pact Charter School Project |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 06/01/2032 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3049987 |
| City of Savage | City of Savage | City of Savage | City of Savage |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Aspen Academy | Aspen Academy | Aspen Academy | Aspen Academy |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 10/01/2031 | &nbsp;&nbsp; 4.750% | 1000000 | &nbsp;&nbsp; 1001613 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| City of Spring Lake Park | City of Spring Lake Park | City of Spring Lake Park | City of Spring Lake Park |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Academy for Higher Learning Project | Academy for Higher Learning Project | Academy for Higher Learning Project | Academy for Higher Learning Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/15/2049 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 1793043 |
| 06/15/2054 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 875363 |
| City of Woodbury<sup>(c)</sup>  | City of Woodbury<sup>(c)</sup>  | City of Woodbury<sup>(c)</sup>  | City of Woodbury<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Math and Science Academy | Math and Science Academy | Math and Science Academy | Math and Science Academy |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/01/2063 | &nbsp;&nbsp; 5.500% | 1000000 | &nbsp;&nbsp; 923319 |
| City of Woodbury | City of Woodbury | City of Woodbury | City of Woodbury |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Woodbury Leadership Academy Project | Woodbury Leadership Academy Project | Woodbury Leadership Academy Project | Woodbury Leadership Academy Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2065 | &nbsp;&nbsp; 6.000% | 1500000 | &nbsp;&nbsp; 1484809 |
| Woodbury Leadership Project | Woodbury Leadership Project | Woodbury Leadership Project | Woodbury Leadership Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 07/01/2056 | &nbsp;&nbsp; 4.000% | 1725000 | &nbsp;&nbsp; 1227040 |
| Housing & Redevelopment Authority of the City of St. Paul | Housing & Redevelopment Authority of the City of St. Paul | Housing & Redevelopment Authority of the City of St. Paul | Housing & Redevelopment Authority of the City of St. Paul |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Nova Classical Academy Project | Nova Classical Academy Project | Nova Classical Academy Project | Nova Classical Academy Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 09/01/2055 | &nbsp;&nbsp; 5.500% | 555000 | &nbsp;&nbsp; 542826 |
| 09/01/2065 | &nbsp;&nbsp; 5.625% | 1330000 | &nbsp;&nbsp; 1302566 |
| Housing & Redevelopment Authority of the City of St. Paul<sup>(c),(d)</sup>  | Housing & Redevelopment Authority of the City of St. Paul<sup>(c),(d)</sup>  | Housing & Redevelopment Authority of the City of St. Paul<sup>(c),(d)</sup>  | Housing & Redevelopment Authority of the City of St. Paul<sup>(c),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Metro Deaf School Project | Metro Deaf School Project | Metro Deaf School Project | Metro Deaf School Project |
| Series 2026 | Series 2026 | Series 2026 | Series 2026 |
| 06/15/2061 | &nbsp;&nbsp; 6.375% | 1200000 | &nbsp;&nbsp; 1197794 |
| Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Higher Ground Academy Project | Higher Ground Academy Project | Higher Ground Academy Project | Higher Ground Academy Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 12/01/2057 | &nbsp;&nbsp; 5.500% | 2000000 | &nbsp;&nbsp; 2002058 |
| Hmong College Prep Academy Project | Hmong College Prep Academy Project | Hmong College Prep Academy Project | Hmong College Prep Academy Project |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 09/01/2055 | &nbsp;&nbsp; 5.000% | 1750000 | &nbsp;&nbsp; 1595931 |
| Hope Community Academy Project | Hope Community Academy Project | Hope Community Academy Project | Hope Community Academy Project |
| Series 2015A | Series 2015A | Series 2015A | Series 2015A |
| 12/01/2043 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 806976 |
| Nova Classical Academy Project | Nova Classical Academy Project | Nova Classical Academy Project | Nova Classical Academy Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 09/01/2036 | &nbsp;&nbsp; 4.000% | 470000 | &nbsp;&nbsp; 456255 |
| 09/01/2047 | &nbsp;&nbsp; 4.125% | 660000 | &nbsp;&nbsp; 559619 |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 09/01/2031 | &nbsp;&nbsp; 4.000% | 200000 | &nbsp;&nbsp; 200069 |
| St. Paul Conservatory | St. Paul Conservatory | St. Paul Conservatory | St. Paul Conservatory |
| Series 2013A | Series 2013A | Series 2013A | Series 2013A |
| 03/01/2028 | &nbsp;&nbsp; 4.000% | 125000 | &nbsp;&nbsp; 122191 |
| 03/01/2043 | &nbsp;&nbsp; 4.625% | 1000000 | &nbsp;&nbsp; 829976 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Township of Baytown | Township of Baytown | Township of Baytown | Township of Baytown |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 08/01/2041 | &nbsp;&nbsp; 4.000% | 750000 | &nbsp;&nbsp; 665712 |
| 08/01/2046 | &nbsp;&nbsp; 4.250% | 2935000 | &nbsp;&nbsp; 2464959 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **46371832** |
| **Health Services 0.2%** | **Health Services 0.2%** | **Health Services 0.2%** | **Health Services 0.2%** |
| City of Center City | City of Center City | City of Center City | City of Center City |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Hazelden Betty Ford Foundation Project | Hazelden Betty Ford Foundation Project | Hazelden Betty Ford Foundation Project | Hazelden Betty Ford Foundation Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 11/01/2041 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 987057 |
| **Higher Education 6.5%** | **Higher Education 6.5%** | **Higher Education 6.5%** | **Higher Education 6.5%** |
| Minnesota Higher Education Facilities Authority | Minnesota Higher Education Facilities Authority | Minnesota Higher Education Facilities Authority | Minnesota Higher Education Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Carleton College | Carleton College | Carleton College | Carleton College |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 03/01/2037 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 502956 |
| 03/01/2039 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 502492 |
| 03/01/2040 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 1003701 |
| 03/01/2047 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2382504 |
| Gustavus Adolphus College | Gustavus Adolphus College | Gustavus Adolphus College | Gustavus Adolphus College |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 10/01/2041 | &nbsp;&nbsp; 4.000% | 3000000 | &nbsp;&nbsp; 2836661 |
| 10/01/2047 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 1968257 |
| Macalester College | Macalester College | Macalester College | Macalester College |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 03/01/2042 | &nbsp;&nbsp; 4.000% | 900000 | &nbsp;&nbsp; 900756 |
| 03/01/2048 | &nbsp;&nbsp; 4.000% | 600000 | &nbsp;&nbsp; 549446 |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 03/01/2040 | &nbsp;&nbsp; 3.000% | 365000 | &nbsp;&nbsp; 330328 |
| 03/01/2043 | &nbsp;&nbsp; 3.000% | 325000 | &nbsp;&nbsp; 271087 |
| St. Catherine University | St. Catherine University | St. Catherine University | St. Catherine University |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 10/01/2037 | &nbsp;&nbsp; 4.000% | 580000 | &nbsp;&nbsp; 565231 |
| 10/01/2038 | &nbsp;&nbsp; 4.000% | 920000 | &nbsp;&nbsp; 886692 |
| St. Olaf College | St. Olaf College | St. Olaf College | St. Olaf College |
| Series 2016-8N | Series 2016-8N | Series 2016-8N | Series 2016-8N |
| 10/01/2035 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 502532 |
| University of St. Thomas | University of St. Thomas | University of St. Thomas | University of St. Thomas |
| Series 2016-8-L | Series 2016-8-L | Series 2016-8-L | Series 2016-8-L |
| 04/01/2039 | &nbsp;&nbsp; 4.000% | 2000000 | &nbsp;&nbsp; 1971813 |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 10/01/2035 | &nbsp;&nbsp; 4.000% | 800000 | &nbsp;&nbsp; 810583 |
| 10/01/2037 | &nbsp;&nbsp; 4.000% | 750000 | &nbsp;&nbsp; 756355 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Carleton College | Carleton College | Carleton College | Carleton College |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 03/01/2053 | &nbsp;&nbsp; 5.000% | 2670000 | &nbsp;&nbsp; 2774925 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| College of St. Benedict | College of St. Benedict | College of St. Benedict | College of St. Benedict |
| Series 2016-8-K | Series 2016-8-K | Series 2016-8-K | Series 2016-8-K |
| 03/01/2043 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 880911 |
| College of St. Scholastica | College of St. Scholastica | College of St. Scholastica | College of St. Scholastica |
| Series 2012 | Series 2012 | Series 2012 | Series 2012 |
| 12/01/2032 | &nbsp;&nbsp; 4.000% | 350000 | &nbsp;&nbsp; 345067 |
| St. Catherine University | St. Catherine University | St. Catherine University | St. Catherine University |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 10/01/2052 | &nbsp;&nbsp; 5.000% | 1415000 | &nbsp;&nbsp; 1324298 |
| St. John's University | St. John's University | St. John's University | St. John's University |
| Series 2015-8-1 | Series 2015-8-1 | Series 2015-8-1 | Series 2015-8-1 |
| 10/01/2031 | &nbsp;&nbsp; 5.000% | 370000 | &nbsp;&nbsp; 370451 |
| 10/01/2032 | &nbsp;&nbsp; 5.000% | 645000 | &nbsp;&nbsp; 645756 |
| 10/01/2033 | &nbsp;&nbsp; 5.000% | 350000 | &nbsp;&nbsp; 350394 |
| 10/01/2034 | &nbsp;&nbsp; 5.000% | 380000 | &nbsp;&nbsp; 380425 |
| University of St. Thomas | University of St. Thomas | University of St. Thomas | University of St. Thomas |
| Series 2022B | Series 2022B | Series 2022B | Series 2022B |
| 10/01/2052 | &nbsp;&nbsp; 5.000% | 7895000 | &nbsp;&nbsp; 7984312 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **31797933** |
| **Hospital 18.7%** | **Hospital 18.7%** | **Hospital 18.7%** | **Hospital 18.7%** |
| City of Crookston | City of Crookston | City of Crookston | City of Crookston |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Riverview Health Project | Riverview Health Project | Riverview Health Project | Riverview Health Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 05/01/2044 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 240816 |
| 05/01/2051 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 721841 |
| City of Glencoe | City of Glencoe | City of Glencoe | City of Glencoe |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Glencoe Regional Health Services Project | Glencoe Regional Health Services Project | Glencoe Regional Health Services Project | Glencoe Regional Health Services Project |
| Series 2013 | Series 2013 | Series 2013 | Series 2013 |
| 04/01/2031 | &nbsp;&nbsp; 4.000% | 1450000 | &nbsp;&nbsp; 1450244 |
| City of Maple Grove | City of Maple Grove | City of Maple Grove | City of Maple Grove |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Maple Grove Hospital Corp. | Maple Grove Hospital Corp. | Maple Grove Hospital Corp. | Maple Grove Hospital Corp. |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 05/01/2037 | &nbsp;&nbsp; 4.000% | 10500000 | &nbsp;&nbsp; 10423944 |
| North Memorial Health Care | North Memorial Health Care | North Memorial Health Care | North Memorial Health Care |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 09/01/2032 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1000980 |
| 09/01/2035 | &nbsp;&nbsp; 4.000% | 1500000 | &nbsp;&nbsp; 1499838 |
| City of Minneapolis | City of Minneapolis | City of Minneapolis | City of Minneapolis |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Fairview Health Services | Fairview Health Services | Fairview Health Services | Fairview Health Services |
| Series 2015A | Series 2015A | Series 2015A | Series 2015A |
| 11/15/2044 | &nbsp;&nbsp; 5.000% | 6475000 | &nbsp;&nbsp; 6475125 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fairview Health Services | Fairview Health Services | Fairview Health Services | Fairview Health Services |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 11/15/2037 | &nbsp;&nbsp; 4.000% | 3500000 | &nbsp;&nbsp; 3506260 |
| 11/15/2038 | &nbsp;&nbsp; 4.000% | 1130000 | &nbsp;&nbsp; 1126245 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| City of Plato | City of Plato | City of Plato | City of Plato |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Glencoe Regional Health Services | Glencoe Regional Health Services | Glencoe Regional Health Services | Glencoe Regional Health Services |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 04/01/2037 | &nbsp;&nbsp; 4.000% | 1810000 | &nbsp;&nbsp; 1774558 |
| 04/01/2041 | &nbsp;&nbsp; 5.000% | 675000 | &nbsp;&nbsp; 677648 |
| City of Rochester | City of Rochester | City of Rochester | City of Rochester |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Mayo Clinic | Mayo Clinic | Mayo Clinic | Mayo Clinic |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/15/2057 | &nbsp;&nbsp; 5.000% | 13000000 | &nbsp;&nbsp; 13292882 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Mayo Clinic | Mayo Clinic | Mayo Clinic | Mayo Clinic |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 11/15/2053 | &nbsp;&nbsp; 4.375% | 5000000 | &nbsp;&nbsp; 4920022 |
| City of St. Cloud | City of St. Cloud | City of St. Cloud | City of St. Cloud |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| CentraCare Health System | CentraCare Health System | CentraCare Health System | CentraCare Health System |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 05/01/2037 | &nbsp;&nbsp; 4.000% | 3175000 | &nbsp;&nbsp; 3170590 |
| 05/01/2046 | &nbsp;&nbsp; 5.000% | 3875000 | &nbsp;&nbsp; 3876872 |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 05/01/2054 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1523142 |
| City of Wadena | City of Wadena | City of Wadena | City of Wadena |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Wadena Cancer Center Project | Wadena Cancer Center Project | Wadena Cancer Center Project | Wadena Cancer Center Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/01/2045 | &nbsp;&nbsp; 5.000% | 1900000 | &nbsp;&nbsp; 1970576 |
| County of Chippewa | County of Chippewa | County of Chippewa | County of Chippewa |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Montevideo Hospital Project | Montevideo Hospital Project | Montevideo Hospital Project | Montevideo Hospital Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 03/01/2037 | &nbsp;&nbsp; 4.000% | 7660000 | &nbsp;&nbsp; 7550450 |
| Duluth Economic Development Authority | Duluth Economic Development Authority | Duluth Economic Development Authority | Duluth Economic Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Essentia Health Obligation Group | Essentia Health Obligation Group | Essentia Health Obligation Group | Essentia Health Obligation Group |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 02/15/2043 | &nbsp;&nbsp; 4.250% | 1000000 | &nbsp;&nbsp; 981672 |
| 02/15/2043 | &nbsp;&nbsp; 5.000% | 1615000 | &nbsp;&nbsp; 1639166 |
| 02/15/2048 | &nbsp;&nbsp; 5.000% | 1300000 | &nbsp;&nbsp; 1304413 |
| 02/15/2058 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 5944577 |
| St. Luke Hospital of Duluth | St. Luke Hospital of Duluth | St. Luke Hospital of Duluth | St. Luke Hospital of Duluth |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/15/2037 | &nbsp;&nbsp; 4.000% | 350000 | &nbsp;&nbsp; 363224 |
| 06/15/2038 | &nbsp;&nbsp; 4.000% | 375000 | &nbsp;&nbsp; 386871 |
| 06/15/2039 | &nbsp;&nbsp; 4.000% | 225000 | &nbsp;&nbsp; 230917 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| St. Luke's Hospital | St. Luke's Hospital | St. Luke's Hospital | St. Luke's Hospital |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/15/2052 | &nbsp;&nbsp; 5.250% | 2420000 | &nbsp;&nbsp; 2492200 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Fairview Health Services | Fairview Health Services | Fairview Health Services | Fairview Health Services |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 11/15/2036 | &nbsp;&nbsp; 4.000% | 1200000 | &nbsp;&nbsp; 1204530 |
| 11/15/2037 | &nbsp;&nbsp; 4.000% | 600000 | &nbsp;&nbsp; 601102 |
| 11/15/2043 | &nbsp;&nbsp; 4.000% | 3000000 | &nbsp;&nbsp; 2781141 |
| HealthPartners Obligation Group | HealthPartners Obligation Group | HealthPartners Obligation Group | HealthPartners Obligation Group |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 07/01/2035 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 5001290 |
| Minnesota Agricultural & Economic Development Board | Minnesota Agricultural & Economic Development Board | Minnesota Agricultural & Economic Development Board | Minnesota Agricultural & Economic Development Board |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| HealthPartners Obligated Group | HealthPartners Obligated Group | HealthPartners Obligated Group | HealthPartners Obligated Group |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 01/01/2054 | &nbsp;&nbsp; 5.250% | 3250000 | &nbsp;&nbsp; 3345849 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **91478985** |
| **Joint Power Authority 0.3%** | **Joint Power Authority 0.3%** | **Joint Power Authority 0.3%** | **Joint Power Authority 0.3%** |
| Minnesota Municipal Power Agency | Minnesota Municipal Power Agency | Minnesota Municipal Power Agency | Minnesota Municipal Power Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2014 | Series 2014 | Series 2014 | Series 2014 |
| 10/01/2032 | &nbsp;&nbsp; 5.000% | 250000 | &nbsp;&nbsp; 250453 |
| Northern Municipal Power Agency | Northern Municipal Power Agency | Northern Municipal Power Agency | Northern Municipal Power Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 01/01/2035 | &nbsp;&nbsp; 5.000% | 170000 | &nbsp;&nbsp; 173413 |
| 01/01/2036 | &nbsp;&nbsp; 5.000% | 180000 | &nbsp;&nbsp; 183416 |
| Southern Minnesota Municipal Power Agency | Southern Minnesota Municipal Power Agency | Southern Minnesota Municipal Power Agency | Southern Minnesota Municipal Power Agency |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 01/01/2046 | &nbsp;&nbsp; 5.000% | 865000 | &nbsp;&nbsp; 918180 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1525462** |
| **Local Appropriation 2.8%** | **Local Appropriation 2.8%** | **Local Appropriation 2.8%** | **Local Appropriation 2.8%** |
| City of Marshall | City of Marshall | City of Marshall | City of Marshall |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 02/01/2041 | &nbsp;&nbsp; 5.125% | 540000 | &nbsp;&nbsp; 573329 |
| 02/01/2045 | &nbsp;&nbsp; 5.375% | 725000 | &nbsp;&nbsp; 756981 |
| Northeastern Metropolitan Intermediate School District No. 916 | Northeastern Metropolitan Intermediate School District No. 916 | Northeastern Metropolitan Intermediate School District No. 916 | Northeastern Metropolitan Intermediate School District No. 916 |
| Certificate of Participation | Certificate of Participation | Certificate of Participation | Certificate of Participation |
| Series 2015B | Series 2015B | Series 2015B | Series 2015B |
| 02/01/2034 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1002049 |
| 02/01/2042 | &nbsp;&nbsp; 4.000% | 5250000 | &nbsp;&nbsp; 5250036 |
| Rum River Special Education Cooperative | Rum River Special Education Cooperative | Rum River Special Education Cooperative | Rum River Special Education Cooperative |
| Certificate of Participation | Certificate of Participation | Certificate of Participation | Certificate of Participation |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 02/01/2046 | &nbsp;&nbsp; 5.500% | 1300000 | &nbsp;&nbsp; 1319965 |
| St. Paul Independent School District No. 625 | St. Paul Independent School District No. 625 | St. Paul Independent School District No. 625 | St. Paul Independent School District No. 625 |
| Certificate of Participation | Certificate of Participation | Certificate of Participation | Certificate of Participation |
| Series 2019 (School District Credit Enhancement Program) | Series 2019 (School District Credit Enhancement Program) | Series 2019 (School District Credit Enhancement Program) | Series 2019 (School District Credit Enhancement Program) |
| 02/01/2039 | &nbsp;&nbsp; 3.000% | 565000 | &nbsp;&nbsp; 535257 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Series 2020C | Series 2020C | Series 2020C | Series 2020C |
| 02/01/2040 | &nbsp;&nbsp; 2.500% | 4285000 | &nbsp;&nbsp; 3595574 |
| Zumbro Education District | Zumbro Education District | Zumbro Education District | Zumbro Education District |
| Certificate of Participation | Certificate of Participation | Certificate of Participation | Certificate of Participation |
| Series 2021A | Series 2021A | Series 2021A | Series 2021A |
| 02/01/2041 | &nbsp;&nbsp; 4.000% | 635000 | &nbsp;&nbsp; 570715 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **13603906** |
| **Local General Obligation 26.0%** | **Local General Obligation 26.0%** | **Local General Obligation 26.0%** | **Local General Obligation 26.0%** |
| Anoka-Hennepin Independent School District No. 11 | Anoka-Hennepin Independent School District No. 11 | Anoka-Hennepin Independent School District No. 11 | Anoka-Hennepin Independent School District No. 11 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| School District Credit Enhancement Program | School District Credit Enhancement Program | School District Credit Enhancement Program | School District Credit Enhancement Program |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2045 | &nbsp;&nbsp; 3.000% | 5000000 | &nbsp;&nbsp; 3914333 |
| Becker Independent School District No. 726<sup>(e)</sup>  | Becker Independent School District No. 726<sup>(e)</sup>  | Becker Independent School District No. 726<sup>(e)</sup>  | Becker Independent School District No. 726<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 02/01/2037 | &nbsp;&nbsp; 0.000% | 1335000 | &nbsp;&nbsp; 886280 |
| 02/01/2038 | &nbsp;&nbsp; 0.000% | 1335000 | &nbsp;&nbsp; 839956 |
| Blooming Prairie Independent School District No. 756 | Blooming Prairie Independent School District No. 756 | Blooming Prairie Independent School District No. 756 | Blooming Prairie Independent School District No. 756 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 02/01/2045 | &nbsp;&nbsp; 2.250% | 1375000 | &nbsp;&nbsp; 918055 |
| Brainerd Independent School District No. 181 | Brainerd Independent School District No. 181 | Brainerd Independent School District No. 181 | Brainerd Independent School District No. 181 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| School Building | School Building | School Building | School Building |
| Series 2018A (School District Credit Enhancement Program) | Series 2018A (School District Credit Enhancement Program) | Series 2018A (School District Credit Enhancement Program) | Series 2018A (School District Credit Enhancement Program) |
| 02/01/2037 | &nbsp;&nbsp; 4.000% | 9800000 | &nbsp;&nbsp; 9864162 |
| City of Elk River | City of Elk River | City of Elk River | City of Elk River |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 12/01/2042 | &nbsp;&nbsp; 3.000% | 1755000 | &nbsp;&nbsp; 1506029 |
| City of Minneapolis | City of Minneapolis | City of Minneapolis | City of Minneapolis |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2040 | &nbsp;&nbsp; 4.000% | 4440000 | &nbsp;&nbsp; 4546048 |
| Dilworth Glyndon Felton Independent School District No. 2164 | Dilworth Glyndon Felton Independent School District No. 2164 | Dilworth Glyndon Felton Independent School District No. 2164 | Dilworth Glyndon Felton Independent School District No. 2164 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2038 | &nbsp;&nbsp; 3.000% | 1025000 | &nbsp;&nbsp; 973597 |
| 02/01/2040 | &nbsp;&nbsp; 3.000% | 1000000 | &nbsp;&nbsp; 921834 |
| 02/01/2041 | &nbsp;&nbsp; 3.000% | 1230000 | &nbsp;&nbsp; 1102573 |
| Duluth Independent School District No. 709<sup>(e)</sup>  | Duluth Independent School District No. 709<sup>(e)</sup>  | Duluth Independent School District No. 709<sup>(e)</sup>  | Duluth Independent School District No. 709<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2021C | Series 2021C | Series 2021C | Series 2021C |
| 02/01/2032 | &nbsp;&nbsp; 0.000% | 1080000 | &nbsp;&nbsp; 881983 |
| 02/01/2033 | &nbsp;&nbsp; 0.000% | 1075000 | &nbsp;&nbsp; 841632 |
| Eden Prairie Independent School District No. 272 | Eden Prairie Independent School District No. 272 | Eden Prairie Independent School District No. 272 | Eden Prairie Independent School District No. 272 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2019B (School District Credit Enhancement Program) | Series 2019B (School District Credit Enhancement Program) | Series 2019B (School District Credit Enhancement Program) | Series 2019B (School District Credit Enhancement Program) |
| 02/01/2040 | &nbsp;&nbsp; 3.000% | 3000000 | &nbsp;&nbsp; 2718857 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Elk River Independent School District No. 728 | Elk River Independent School District No. 728 | Elk River Independent School District No. 728 | Elk River Independent School District No. 728 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| School District Credit Enhancement Program | School District Credit Enhancement Program | School District Credit Enhancement Program | School District Credit Enhancement Program |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2034 | &nbsp;&nbsp; 2.000% | 7000000 | &nbsp;&nbsp; 6262234 |
| Gibbon Independent School District No. 2365 | Gibbon Independent School District No. 2365 | Gibbon Independent School District No. 2365 | Gibbon Independent School District No. 2365 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 02/01/2048 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2066686 |
| Hastings Independent School District No. 200<sup>(e)</sup>  | Hastings Independent School District No. 200<sup>(e)</sup>  | Hastings Independent School District No. 200<sup>(e)</sup>  | Hastings Independent School District No. 200<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| School Building | School Building | School Building | School Building |
| Series 2018A (School District Credit Enhancement Program) | Series 2018A (School District Credit Enhancement Program) | Series 2018A (School District Credit Enhancement Program) | Series 2018A (School District Credit Enhancement Program) |
| 02/01/2032 | &nbsp;&nbsp; 0.000% | 1305000 | &nbsp;&nbsp; 1057887 |
| 02/01/2033 | &nbsp;&nbsp; 0.000% | 2140000 | &nbsp;&nbsp; 1667241 |
| Lac Qui Parle Valley Independent School District No. 2853 | Lac Qui Parle Valley Independent School District No. 2853 | Lac Qui Parle Valley Independent School District No. 2853 | Lac Qui Parle Valley Independent School District No. 2853 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2040 | &nbsp;&nbsp; 2.500% | 2525000 | &nbsp;&nbsp; 2112601 |
| Litchfield Independent School District No. 465 | Litchfield Independent School District No. 465 | Litchfield Independent School District No. 465 | Litchfield Independent School District No. 465 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2040 | &nbsp;&nbsp; 3.000% | 2260000 | &nbsp;&nbsp; 2056903 |
| MACCRAY Independent School District No. 2180 | MACCRAY Independent School District No. 2180 | MACCRAY Independent School District No. 2180 | MACCRAY Independent School District No. 2180 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2038 | &nbsp;&nbsp; 2.250% | 2525000 | &nbsp;&nbsp; 2107691 |
| 02/01/2039 | &nbsp;&nbsp; 2.250% | 2580000 | &nbsp;&nbsp; 2100987 |
| Marshall Independent School District No. 413 | Marshall Independent School District No. 413 | Marshall Independent School District No. 413 | Marshall Independent School District No. 413 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2019B (School District Credit Enhancement Program) | Series 2019B (School District Credit Enhancement Program) | Series 2019B (School District Credit Enhancement Program) | Series 2019B (School District Credit Enhancement Program) |
| 02/01/2039 | &nbsp;&nbsp; 3.000% | 2440000 | &nbsp;&nbsp; 2292075 |
| 02/01/2040 | &nbsp;&nbsp; 3.000% | 2515000 | &nbsp;&nbsp; 2300829 |
| Metropolitan Council | Metropolitan Council | Metropolitan Council | Metropolitan Council |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Minneapolis-Saint Paul Metropolitan Area | Minneapolis-Saint Paul Metropolitan Area | Minneapolis-Saint Paul Metropolitan Area | Minneapolis-Saint Paul Metropolitan Area |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 03/01/2042 | &nbsp;&nbsp; 4.000% | 3550000 | &nbsp;&nbsp; 3628783 |
| Minnetonka Independent School District No. 276<sup>(e)</sup>  | Minnetonka Independent School District No. 276<sup>(e)</sup>  | Minnetonka Independent School District No. 276<sup>(e)</sup>  | Minnetonka Independent School District No. 276<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2026A | Series 2026A | Series 2026A | Series 2026A |
| 02/01/2043 | &nbsp;&nbsp; 0.000% | 1400000 | &nbsp;&nbsp; 685737 |
| Moorhead Independent School District No. 152 | Moorhead Independent School District No. 152 | Moorhead Independent School District No. 152 | Moorhead Independent School District No. 152 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2041 | &nbsp;&nbsp; 3.000% | 5600000 | &nbsp;&nbsp; 4961276 |
| Mounds View Independent School District No. 621 | Mounds View Independent School District No. 621 | Mounds View Independent School District No. 621 | Mounds View Independent School District No. 621 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 02/01/2043 | &nbsp;&nbsp; 4.000% | 6455000 | &nbsp;&nbsp; 6468774 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| North St. Paul-Maplewood-Oakdale Independent School District No. 622 | North St. Paul-Maplewood-Oakdale Independent School District No. 622 | North St. Paul-Maplewood-Oakdale Independent School District No. 622 | North St. Paul-Maplewood-Oakdale Independent School District No. 622 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 02/01/2042 | &nbsp;&nbsp; 3.000% | 7050000 | &nbsp;&nbsp; 6104316 |
| Norwood Young America Independent School District No. 108 | Norwood Young America Independent School District No. 108 | Norwood Young America Independent School District No. 108 | Norwood Young America Independent School District No. 108 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 02/01/2045 | &nbsp;&nbsp; 2.250% | 1600000 | &nbsp;&nbsp; 1095476 |
| Richfield Independent School District No. 280 | Richfield Independent School District No. 280 | Richfield Independent School District No. 280 | Richfield Independent School District No. 280 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 02/01/2040 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 5031843 |
| Roseville Independent School District No. 623 | Roseville Independent School District No. 623 | Roseville Independent School District No. 623 | Roseville Independent School District No. 623 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| School Building | School Building | School Building | School Building |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 02/01/2038 | &nbsp;&nbsp; 4.000% | 10000000 | &nbsp;&nbsp; 10075291 |
| Russell Tyler Ruthton Independent School District No. 2902 | Russell Tyler Ruthton Independent School District No. 2902 | Russell Tyler Ruthton Independent School District No. 2902 | Russell Tyler Ruthton Independent School District No. 2902 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2019A (School District Credit Enhancement Program) | Series 2019A (School District Credit Enhancement Program) | Series 2019A (School District Credit Enhancement Program) | Series 2019A (School District Credit Enhancement Program) |
| 02/01/2035 | &nbsp;&nbsp; 3.000% | 1950000 | &nbsp;&nbsp; 1951305 |
| 02/01/2036 | &nbsp;&nbsp; 3.000% | 1000000 | &nbsp;&nbsp; 1000535 |
| 02/01/2037 | &nbsp;&nbsp; 3.000% | 1035000 | &nbsp;&nbsp; 1010580 |
| Sartell-St. Stephen Independent School District No. 748<sup>(e)</sup>  | Sartell-St. Stephen Independent School District No. 748<sup>(e)</sup>  | Sartell-St. Stephen Independent School District No. 748<sup>(e)</sup>  | Sartell-St. Stephen Independent School District No. 748<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| School Building | School Building | School Building | School Building |
| Series 2016B (School District Credit Enhancement Program) | Series 2016B (School District Credit Enhancement Program) | Series 2016B (School District Credit Enhancement Program) | Series 2016B (School District Credit Enhancement Program) |
| 02/01/2032 | &nbsp;&nbsp; 0.000% | 1565000 | &nbsp;&nbsp; 1259367 |
| 02/01/2033 | &nbsp;&nbsp; 0.000% | 2585000 | &nbsp;&nbsp; 1989359 |
| 02/01/2034 | &nbsp;&nbsp; 0.000% | 1500000 | &nbsp;&nbsp; 1103155 |
| Sauk Rapids-Rice Independent School District No. 47 | Sauk Rapids-Rice Independent School District No. 47 | Sauk Rapids-Rice Independent School District No. 47 | Sauk Rapids-Rice Independent School District No. 47 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2040 | &nbsp;&nbsp; 2.625% | 2250000 | &nbsp;&nbsp; 1919345 |
| South Washington County Independent School District No. 833 | South Washington County Independent School District No. 833 | South Washington County Independent School District No. 833 | South Washington County Independent School District No. 833 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 02/01/2038 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5525898 |
| 02/01/2044 | &nbsp;&nbsp; 4.000% | 3000000 | &nbsp;&nbsp; 2974696 |
| St. Cloud Independent School District No. 742<sup>(e)</sup>  | St. Cloud Independent School District No. 742<sup>(e)</sup>  | St. Cloud Independent School District No. 742<sup>(e)</sup>  | St. Cloud Independent School District No. 742<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 02/01/2027 | &nbsp;&nbsp; 0.000% | 300000 | &nbsp;&nbsp; 292027 |
| 02/01/2028 | &nbsp;&nbsp; 0.000% | 285000 | &nbsp;&nbsp; 269797 |
| Stillwater Independent School District No. 834 | Stillwater Independent School District No. 834 | Stillwater Independent School District No. 834 | Stillwater Independent School District No. 834 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 02/01/2042 | &nbsp;&nbsp; 4.000% | 6960000 | &nbsp;&nbsp; 7046539 |
| 02/01/2043 | &nbsp;&nbsp; 4.000% | 2275000 | &nbsp;&nbsp; 2291922 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Watertown-Mayer Independent School District No. 111<sup>(e)</sup>  | Watertown-Mayer Independent School District No. 111<sup>(e)</sup>  | Watertown-Mayer Independent School District No. 111<sup>(e)</sup>  | Watertown-Mayer Independent School District No. 111<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Capital Appreciation | Capital Appreciation | Capital Appreciation | Capital Appreciation |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2035 | &nbsp;&nbsp; 0.000% | 2420000 | &nbsp;&nbsp; 1682745 |
| 02/01/2039 | &nbsp;&nbsp; 0.000% | 2175000 | &nbsp;&nbsp; 1213770 |
| Worthington Independent School District No. 518 | Worthington Independent School District No. 518 | Worthington Independent School District No. 518 | Worthington Independent School District No. 518 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 02/01/2035 | &nbsp;&nbsp; 3.000% | 700000 | &nbsp;&nbsp; 694732 |
| 02/01/2036 | &nbsp;&nbsp; 3.000% | 470000 | &nbsp;&nbsp; 461570 |
| 02/01/2037 | &nbsp;&nbsp; 3.000% | 500000 | &nbsp;&nbsp; 482247 |
| 02/01/2038 | &nbsp;&nbsp; 3.000% | 1000000 | &nbsp;&nbsp; 954794 |
| 02/01/2039 | &nbsp;&nbsp; 3.000% | 1000000 | &nbsp;&nbsp; 941988 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **127058340** |
| **Multi-Family 3.9%** | **Multi-Family 3.9%** | **Multi-Family 3.9%** | **Multi-Family 3.9%** |
| City of Coon Rapids | City of Coon Rapids | City of Coon Rapids | City of Coon Rapids |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Mississippi View Apartments Project | Mississippi View Apartments Project | Mississippi View Apartments Project | Mississippi View Apartments Project |
| Series 2023 (FNMA) | Series 2023 (FNMA) | Series 2023 (FNMA) | Series 2023 (FNMA) |
| 12/01/2039 | &nbsp;&nbsp; 5.600% | 1733875 | &nbsp;&nbsp; 1975252 |
| City of Crystal | City of Crystal | City of Crystal | City of Crystal |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Crystal Leased Housing Association | Crystal Leased Housing Association | Crystal Leased Housing Association | Crystal Leased Housing Association |
| Series 2014 | Series 2014 | Series 2014 | Series 2014 |
| 06/01/2031 | &nbsp;&nbsp; 5.250% | 2500000 | &nbsp;&nbsp; 2501260 |
| City of Minneapolis | City of Minneapolis | City of Minneapolis | City of Minneapolis |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 14th and Central Project | 14th and Central Project | 14th and Central Project | 14th and Central Project |
| Series 2020A (FNMA) | Series 2020A (FNMA) | Series 2020A (FNMA) | Series 2020A (FNMA) |
| 02/01/2038 | &nbsp;&nbsp; 2.350% | 4512485 | &nbsp;&nbsp; 3826070 |
| City of St. Anthony | City of St. Anthony | City of St. Anthony | City of St. Anthony |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Multifamily Housing Landings Silver Lake Village | Multifamily Housing Landings Silver Lake Village | Multifamily Housing Landings Silver Lake Village | Multifamily Housing Landings Silver Lake Village |
| Series 2013 | Series 2013 | Series 2013 | Series 2013 |
| 12/01/2030 | &nbsp;&nbsp; 6.000% | 3000000 | &nbsp;&nbsp; 3002148 |
| Dakota County Community Development Agency | Dakota County Community Development Agency | Dakota County Community Development Agency | Dakota County Community Development Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Heart of the City Apartments Project | Heart of the City Apartments Project | Heart of the City Apartments Project | Heart of the City Apartments Project |
| Series 2024 (FNMA) | Series 2024 (FNMA) | Series 2024 (FNMA) | Series 2024 (FNMA) |
| 05/01/2043 | &nbsp;&nbsp; 4.200% | 1500000 | &nbsp;&nbsp; 1477501 |
| Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 848 Payne Ave. Apartments Green Bonds | 848 Payne Ave. Apartments Green Bonds | 848 Payne Ave. Apartments Green Bonds | 848 Payne Ave. Apartments Green Bonds |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 06/01/2038 | &nbsp;&nbsp; 2.330% | 4815752 | &nbsp;&nbsp; 4037366 |
| Northwest Multi-County Housing & Redevelopment Authority | Northwest Multi-County Housing & Redevelopment Authority | Northwest Multi-County Housing & Redevelopment Authority | Northwest Multi-County Housing & Redevelopment Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Pooled Housing Program | Pooled Housing Program | Pooled Housing Program | Pooled Housing Program |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 07/01/2045 | &nbsp;&nbsp; 5.500% | 2500000 | &nbsp;&nbsp; 2457163 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **19276760** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Municipal Power 0.3%** | **Municipal Power 0.3%** | **Municipal Power 0.3%** | **Municipal Power 0.3%** |
| Puerto Rico Electric Power Authority<sup>(f),(g)</sup>  | Puerto Rico Electric Power Authority<sup>(f),(g)</sup>  | Puerto Rico Electric Power Authority<sup>(f),(g)</sup>  | Puerto Rico Electric Power Authority<sup>(f),(g)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2012A | Series 2012A | Series 2012A | Series 2012A |
| 07/01/2042 | &nbsp;&nbsp; 0.000% | 2090000 | &nbsp;&nbsp; 1392462 |
| **Nursing Home 1.8%** | **Nursing Home 1.8%** | **Nursing Home 1.8%** | **Nursing Home 1.8%** |
| Duluth Economic Development Authority | Duluth Economic Development Authority | Duluth Economic Development Authority | Duluth Economic Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Benedictine Health System | Benedictine Health System | Benedictine Health System | Benedictine Health System |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 07/01/2031 | &nbsp;&nbsp; 4.000% | 1625000 | &nbsp;&nbsp; 1606301 |
| Housing & Redevelopment Authority of The City of St. Paul<sup>(c)</sup>  | Housing & Redevelopment Authority of The City of St. Paul<sup>(c)</sup>  | Housing & Redevelopment Authority of The City of St. Paul<sup>(c)</sup>  | Housing & Redevelopment Authority of The City of St. Paul<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Episcopal Homes Obligation Group | Episcopal Homes Obligation Group | Episcopal Homes Obligation Group | Episcopal Homes Obligation Group |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 11/01/2042 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 858553 |
| Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Episcopal Homes Project | Episcopal Homes Project | Episcopal Homes Project | Episcopal Homes Project |
| Series 2013 | Series 2013 | Series 2013 | Series 2013 |
| 05/01/2038 | &nbsp;&nbsp; 5.000% | 1200000 | &nbsp;&nbsp; 1143715 |
| 05/01/2048 | &nbsp;&nbsp; 5.125% | 6080000 | &nbsp;&nbsp; 5174426 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **8782995** |
| **Other Bond Issue 0.3%** | **Other Bond Issue 0.3%** | **Other Bond Issue 0.3%** | **Other Bond Issue 0.3%** |
| Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 12/01/2036 | &nbsp;&nbsp; 5.000% | 1580000 | &nbsp;&nbsp; 1653329 |
| **Other Utility 1.2%** | **Other Utility 1.2%** | **Other Utility 1.2%** | **Other Utility 1.2%** |
| Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul | Housing & Redevelopment Authority of The City of St. Paul |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 10/01/2032 | &nbsp;&nbsp; 4.000% | 800000 | &nbsp;&nbsp; 811111 |
| 10/01/2033 | &nbsp;&nbsp; 4.000% | 655000 | &nbsp;&nbsp; 663159 |
| Series 2017B | Series 2017B | Series 2017B | Series 2017B |
| 10/01/2037 | &nbsp;&nbsp; 4.000% | 800000 | &nbsp;&nbsp; 804704 |
| St. Paul Port Authority | St. Paul Port Authority | St. Paul Port Authority | St. Paul Port Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017-3 | Series 2017-3 | Series 2017-3 | Series 2017-3 |
| 10/01/2042 | &nbsp;&nbsp; 4.000% | 1360000 | &nbsp;&nbsp; 1289433 |
| Series 2024-1 | Series 2024-1 | Series 2024-1 | Series 2024-1 |
| 10/01/2046 | &nbsp;&nbsp; 5.000% | 1120000 | &nbsp;&nbsp; 1157100 |
| St. Paul Port Authority<sup>(a)</sup>  | St. Paul Port Authority<sup>(a)</sup>  | St. Paul Port Authority<sup>(a)</sup>  | St. Paul Port Authority<sup>(a)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017-4 | Series 2017-4 | Series 2017-4 | Series 2017-4 |
| 10/01/2040 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 954834 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5680341** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Retirement Communities 6.7%** | **Retirement Communities 6.7%** | **Retirement Communities 6.7%** | **Retirement Communities 6.7%** |
| City of Anoka | City of Anoka | City of Anoka | City of Anoka |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Homestead at Anoka, Inc. Project | Homestead at Anoka, Inc. Project | Homestead at Anoka, Inc. Project | Homestead at Anoka, Inc. Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 11/01/2035 | &nbsp;&nbsp; 4.750% | 1000000 | &nbsp;&nbsp; 987574 |
| 11/01/2046 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1330012 |
| City of Apple Valley | City of Apple Valley | City of Apple Valley | City of Apple Valley |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Apple Valley Senior Housing | Apple Valley Senior Housing | Apple Valley Senior Housing | Apple Valley Senior Housing |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 09/01/2053 | &nbsp;&nbsp; 4.500% | 3000000 | &nbsp;&nbsp; 2560699 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Orchard Path Phase II Project | Orchard Path Phase II Project | Orchard Path Phase II Project | Orchard Path Phase II Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 09/01/2051 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 396753 |
| 09/01/2061 | &nbsp;&nbsp; 4.000% | 870000 | &nbsp;&nbsp; 654433 |
| PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase III Project | PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase III Project | PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase III Project | PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase III Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 09/01/2065 | &nbsp;&nbsp; 5.625% | 1000000 | &nbsp;&nbsp; 1016102 |
| City of Bethel Housing and Health Care Facilities | City of Bethel Housing and Health Care Facilities | City of Bethel Housing and Health Care Facilities | City of Bethel Housing and Health Care Facilities |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Ecumen Obligated Group | Ecumen Obligated Group | Ecumen Obligated Group | Ecumen Obligated Group |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 03/01/2054 | &nbsp;&nbsp; 6.250% | 1250000 | &nbsp;&nbsp; 1214979 |
| City of Cloquet | City of Cloquet | City of Cloquet | City of Cloquet |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| HADC Cloquet LLC Project | HADC Cloquet LLC Project | HADC Cloquet LLC Project | HADC Cloquet LLC Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 08/01/2041 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 428855 |
| 08/01/2048 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 369424 |
| City of Landfall Village | City of Landfall Village | City of Landfall Village | City of Landfall Village |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Pines of Richfield Project (The) | Pines of Richfield Project (The) | Pines of Richfield Project (The) | Pines of Richfield Project (The) |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 08/01/2034 | &nbsp;&nbsp; 5.250% | 1250000 | &nbsp;&nbsp; 1265832 |
| City of Maple Plain | City of Maple Plain | City of Maple Plain | City of Maple Plain |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Haven Homes, Inc. Project | Haven Homes, Inc. Project | Haven Homes, Inc. Project | Haven Homes, Inc. Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 07/01/2057 | &nbsp;&nbsp; 4.650% | 1250000 | &nbsp;&nbsp; 1028371 |
| City of Moorhead | City of Moorhead | City of Moorhead | City of Moorhead |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Evercare Senior Living LLC | Evercare Senior Living LLC | Evercare Senior Living LLC | Evercare Senior Living LLC |
| Series 2012 | Series 2012 | Series 2012 | Series 2012 |
| 09/01/2037 | &nbsp;&nbsp; 5.125% | 1000000 | &nbsp;&nbsp; 904084 |
| City of North Oaks | City of North Oaks | City of North Oaks | City of North Oaks |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Waverly Gardens Project | Waverly Gardens Project | Waverly Gardens Project | Waverly Gardens Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 10/01/2041 | &nbsp;&nbsp; 4.250% | 5000000 | &nbsp;&nbsp; 4787987 |
| 10/01/2047 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 1935482 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| City of Red Wing | City of Red Wing | City of Red Wing | City of Red Wing |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Benedictine Living Community | Benedictine Living Community | Benedictine Living Community | Benedictine Living Community |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 08/01/2047 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1293827 |
| 08/01/2053 | &nbsp;&nbsp; 5.000% | 600000 | &nbsp;&nbsp; 493278 |
| City of Rochester | City of Rochester | City of Rochester | City of Rochester |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Homestead Rochester, Inc. Project | Homestead Rochester, Inc. Project | Homestead Rochester, Inc. Project | Homestead Rochester, Inc. Project |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 12/01/2049 | &nbsp;&nbsp; 5.000% | 2400000 | &nbsp;&nbsp; 1978069 |
| City of Sartell | City of Sartell | City of Sartell | City of Sartell |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Country Manor Campus LLC | Country Manor Campus LLC | Country Manor Campus LLC | Country Manor Campus LLC |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 09/01/2042 | &nbsp;&nbsp; 4.500% | 2000000 | &nbsp;&nbsp; 1798643 |
| 09/01/2042 | &nbsp;&nbsp; 5.000% | 875000 | &nbsp;&nbsp; 832500 |
| City of Shakopee Senior Housing | City of Shakopee Senior Housing | City of Shakopee Senior Housing | City of Shakopee Senior Housing |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Benedictine Senior Living Obligation | Benedictine Senior Living Obligation | Benedictine Senior Living Obligation | Benedictine Senior Living Obligation |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 11/01/2065 | &nbsp;&nbsp; 5.875% | 1500000 | &nbsp;&nbsp; 1511992 |
| City of St. Joseph | City of St. Joseph | City of St. Joseph | City of St. Joseph |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Woodcrest of Country Manor Project | Woodcrest of Country Manor Project | Woodcrest of Country Manor Project | Woodcrest of Country Manor Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 07/01/2055 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1358923 |
| City of St. Paul Park | City of St. Paul Park | City of St. Paul Park | City of St. Paul Park |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Presbyterian Homes Bloomington | Presbyterian Homes Bloomington | Presbyterian Homes Bloomington | Presbyterian Homes Bloomington |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 09/01/2036 | &nbsp;&nbsp; 4.200% | 275000 | &nbsp;&nbsp; 271605 |
| 09/01/2037 | &nbsp;&nbsp; 4.250% | 300000 | &nbsp;&nbsp; 295065 |
| 09/01/2042 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1000076 |
| City of Wayzata | City of Wayzata | City of Wayzata | City of Wayzata |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Folkstone Senior Living Co. | Folkstone Senior Living Co. | Folkstone Senior Living Co. | Folkstone Senior Living Co. |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 08/01/2054 | &nbsp;&nbsp; 5.000% | 1625000 | &nbsp;&nbsp; 1572185 |
| Dakota County Community Development Agency<sup>(c)</sup>  | Dakota County Community Development Agency<sup>(c)</sup>  | Dakota County Community Development Agency<sup>(c)</sup>  | Dakota County Community Development Agency<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Walker Highviews Hills LLC | Walker Highviews Hills LLC | Walker Highviews Hills LLC | Walker Highviews Hills LLC |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 08/01/2051 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1364713 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **32651463** |
| **Sales Tax 1.5%** | **Sales Tax 1.5%** | **Sales Tax 1.5%** | **Sales Tax 1.5%** |
| City of St. Paul Sales & Use Tax | City of St. Paul Sales & Use Tax | City of St. Paul Sales & Use Tax | City of St. Paul Sales & Use Tax |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Neighborhood and Economic Development Projects | Neighborhood and Economic Development Projects | Neighborhood and Economic Development Projects | Neighborhood and Economic Development Projects |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2042 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2190081 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Commonwealth of Puerto Rico<sup>(f),(h)</sup>  | Commonwealth of Puerto Rico<sup>(f),(h)</sup>  | Commonwealth of Puerto Rico<sup>(f),(h)</sup>  | Commonwealth of Puerto Rico<sup>(f),(h)</sup>  |
| Revenue Notes | Revenue Notes | Revenue Notes | Revenue Notes |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2051 | &nbsp;&nbsp; 0.000% | 970779 | &nbsp;&nbsp; 645568 |
| Subordinated Series 2022 | Subordinated Series 2022 | Subordinated Series 2022 | Subordinated Series 2022 |
| 11/01/2043 | &nbsp;&nbsp; 0.000% | 713211 | &nbsp;&nbsp; 467153 |
| Puerto Rico Sales Tax Financing Corp.<sup>(e),(f)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(e),(f)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(e),(f)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(e),(f)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018A-1 | Series 2018A-1 | Series 2018A-1 | Series 2018A-1 |
| 07/01/2051 | &nbsp;&nbsp; 0.000% | 12501000 | &nbsp;&nbsp; 3166623 |
| Puerto Rico Sales Tax Financing Corp.<sup>(f)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(f)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(f)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(f)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019A1 | Series 2019A1 | Series 2019A1 | Series 2019A1 |
| 07/01/2058 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 978754 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7448179** |
| **Single Family 5.1%** | **Single Family 5.1%** | **Single Family 5.1%** | **Single Family 5.1%** |
| Minnesota Housing Finance Agency | Minnesota Housing Finance Agency | Minnesota Housing Finance Agency | Minnesota Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Mortgage-Backed Securities Pass-Through Program | Mortgage-Backed Securities Pass-Through Program | Mortgage-Backed Securities Pass-Through Program | Mortgage-Backed Securities Pass-Through Program |
| Series 2019 (GNMA) | Series 2019 (GNMA) | Series 2019 (GNMA) | Series 2019 (GNMA) |
| 03/01/2049 | &nbsp;&nbsp; 3.450% | 462898 | &nbsp;&nbsp; 441925 |
| 06/01/2049 | &nbsp;&nbsp; 3.150% | 614970 | &nbsp;&nbsp; 563882 |
| Series 2016 (GNMA / FNMA) | Series 2016 (GNMA / FNMA) | Series 2016 (GNMA / FNMA) | Series 2016 (GNMA / FNMA) |
| 02/01/2046 | &nbsp;&nbsp; 2.950% | 1567442 | &nbsp;&nbsp; 1413354 |
| Series 2020B (GNMA) | Series 2020B (GNMA) | Series 2020B (GNMA) | Series 2020B (GNMA) |
| 01/01/2044 | &nbsp;&nbsp; 2.800% | 2950000 | &nbsp;&nbsp; 2373020 |
| Series 2020E (GNMA) | Series 2020E (GNMA) | Series 2020E (GNMA) | Series 2020E (GNMA) |
| 07/01/2044 | &nbsp;&nbsp; 2.700% | 2220000 | &nbsp;&nbsp; 1745192 |
| Series 2020G | Series 2020G | Series 2020G | Series 2020G |
| 01/01/2051 | &nbsp;&nbsp; 2.550% | 3445000 | &nbsp;&nbsp; 2403594 |
| Series 2021H | Series 2021H | Series 2021H | Series 2021H |
| 07/01/2041 | &nbsp;&nbsp; 2.350% | 1680000 | &nbsp;&nbsp; 1329142 |
| Social Bonds | Social Bonds | Social Bonds | Social Bonds |
| Series 2021F | Series 2021F | Series 2021F | Series 2021F |
| 07/01/2046 | &nbsp;&nbsp; 2.400% | 4380000 | &nbsp;&nbsp; 3091998 |
| Series 2021H | Series 2021H | Series 2021H | Series 2021H |
| 01/01/2046 | &nbsp;&nbsp; 2.550% | 5580000 | &nbsp;&nbsp; 4090500 |
| Series 2022A (GNMA) | Series 2022A (GNMA) | Series 2022A (GNMA) | Series 2022A (GNMA) |
| 07/01/2042 | &nbsp;&nbsp; 2.750% | 2230000 | &nbsp;&nbsp; 1828827 |
| Series 2023B (GNMA) | Series 2023B (GNMA) | Series 2023B (GNMA) | Series 2023B (GNMA) |
| 07/01/2043 | &nbsp;&nbsp; 4.300% | 2760000 | &nbsp;&nbsp; 2768514 |
| Series 2023D (GNMA) | Series 2023D (GNMA) | Series 2023D (GNMA) | Series 2023D (GNMA) |
| 07/01/2043 | &nbsp;&nbsp; 4.500% | 2805000 | &nbsp;&nbsp; 2848012 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **24897960** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Special Non Property Tax 0.8%** | **Special Non Property Tax 0.8%** | **Special Non Property Tax 0.8%** | **Special Non Property Tax 0.8%** |
| State of Minnesota Department of Iron Range Resources and Rehabilitation | State of Minnesota Department of Iron Range Resources and Rehabilitation | State of Minnesota Department of Iron Range Resources and Rehabilitation | State of Minnesota Department of Iron Range Resources and Rehabilitation |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 10/01/2044 | &nbsp;&nbsp; 5.000% | 3670000 | &nbsp;&nbsp; 3904623 |
| **State Appropriated 0.5%** | **State Appropriated 0.5%** | **State Appropriated 0.5%** | **State Appropriated 0.5%** |
| State of Minnesota | State of Minnesota | State of Minnesota | State of Minnesota |
| Certificate of Participation | Certificate of Participation | Certificate of Participation | Certificate of Participation |
| State Office Building Project | State Office Building Project | State Office Building Project | State Office Building Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 11/01/2036 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2303614 |
| **State General Obligation 3.4%** | **State General Obligation 3.4%** | **State General Obligation 3.4%** | **State General Obligation 3.4%** |
| State of Minnesota | State of Minnesota | State of Minnesota | State of Minnesota |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 08/01/2038 | &nbsp;&nbsp; 5.000% | 1400000 | &nbsp;&nbsp; 1467192 |
| Series 2021B | Series 2021B | Series 2021B | Series 2021B |
| 09/01/2041 | &nbsp;&nbsp; 2.000% | 5550000 | &nbsp;&nbsp; 4085281 |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 08/01/2040 | &nbsp;&nbsp; 5.000% | 1755000 | &nbsp;&nbsp; 1964475 |
| 08/01/2041 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2230161 |
| Series 2023B | Series 2023B | Series 2023B | Series 2023B |
| 08/01/2043 | &nbsp;&nbsp; 4.000% | 7000000 | &nbsp;&nbsp; 7036892 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **16784001** |
| **Student Loan 0.8%** | **Student Loan 0.8%** | **Student Loan 0.8%** | **Student Loan 0.8%** |
| Minnesota Office of Higher Education<sup>(a)</sup>  | Minnesota Office of Higher Education<sup>(a)</sup>  | Minnesota Office of Higher Education<sup>(a)</sup>  | Minnesota Office of Higher Education<sup>(a)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 11/01/2038 | &nbsp;&nbsp; 2.650% | 1605000 | &nbsp;&nbsp; 1511153 |
| Supplemental Student Loan Program | Supplemental Student Loan Program | Supplemental Student Loan Program | Supplemental Student Loan Program |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 11/01/2042 | &nbsp;&nbsp; 4.000% | 2300000 | &nbsp;&nbsp; 2242802 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3753955** |
| Total Municipal Bonds <br>(Cost $480,774,423) | Total Municipal Bonds <br>(Cost $480,774,423) | Total Municipal Bonds <br>(Cost $480,774,423) | &nbsp;&nbsp; **455274097** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Money Market Funds 6.0%** | **Money Market Funds 6.0%** | **Money Market Funds 6.0%** |
|  | **Shares** | **Value ($)** |
| BlackRock Liquidity Funds MuniCash, Institutional <br> Shares, 2.029%<sup>(i)</sup> <br>| &nbsp;&nbsp; 29154834 | &nbsp;&nbsp; 29161513 |
| Total Money Market Funds <br>(Cost $29,154,834) | Total Money Market Funds <br>(Cost $29,154,834) | &nbsp;&nbsp; **29161513** |
| **Total Investments in Securities** <br>**(Cost: $509,929,257)** | **Total Investments in Securities** <br>**(Cost: $509,929,257)** | &nbsp;&nbsp; **484435610** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **3867275** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **488302885** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Income from this security may be subject to alternative minimum tax.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $7,367,842, which represents 1.51% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Represents a security purchased on a when-issued basis.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Zero coupon bond.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At January 31, 2026, the total value of these securities amounted to $6,650,560, which represents 1.36% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Represents a security in default.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Coupon rate may change periodically and is determined by the issuer or agent bank based on current market conditions.

&nbsp;&nbsp;&nbsp;&nbsp;(i) The rate shown is the seven-day current annualized yield at January 31, 2026.

**Abbreviation Legend** 

FNMA Federal National Mortgage Association <br> GNMA Government National Mortgage Association

**Fair value measurements** 

The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund's assumptions about the information market participants would use in pricing an investment. An investment's level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset's or liability's fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

■

Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

■

Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

■

Level 3 — Valuations based on significant unobservable inputs (including the Fund's own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment's fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category, if any, are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The Fund's Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager's organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Municipal Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp; 455274097 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 455274097 |
| Money Market Funds | 29161513 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 29161513 |
| Total Investments in Securities | 29161513 | &nbsp;&nbsp;&nbsp;&nbsp; 455274097 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 484435610 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $509,929,257) | $484435610 |
| Receivable for: |  |
| Capital shares sold | 1341747 |
| Dividends | 24548 |
| Interest | 5886745 |
| Prepaid expenses | 3556 |
| Total assets | 491692206 |
| **Liabilities** |  |
| Due to custodian | 6202 |
| Payable for: |  |
| Investments purchased on a delayed delivery basis | 1195692 |
| Capital shares redeemed | 722348 |
| Distributions to shareholders | 1284879 |
| Management services fees | 6241 |
| Distribution and/or service fees | 2111 |
| Transfer agent fees | 21098 |
| Compensation of chief compliance officer | 39 |
| Compensation of board members | 828 |
| Other expenses | 23495 |
| Deferred compensation of board members | 126388 |
| Total liabilities | 3389321 |
| **Net assets applicable to outstanding capital stock** | **$488302885** |
| **Represented by** |  |
| Paid in capital | 557217425 |
| Total distributable earnings (loss) | (68914540)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$488302885** |
| **Class A** |  |
| Net assets | $233973503 |
| Shares outstanding | 11799403 |
| Net asset value per share | $19.83 |
| 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) | $20.44 |
| **Class C** |  |
| Net assets | $18670995 |
| Shares outstanding | 941531 |
| Net asset value per share | $19.83 |
| **Institutional Class** |  |
| Net assets | $207613400 |
| Shares outstanding | 10478687 |
| Net asset value per share | $19.81 |
| **Institutional 2 Class** |  |
| Net assets | $15791296 |
| Shares outstanding | 797530 |
| Net asset value per share | $19.80 |
| **Institutional 3 Class** |  |
| Net assets | $12253691 |
| Shares outstanding | 617574 |
| Net asset value per share | $19.84 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $115495 |
| Interest | 9490851 |
| Total income | 9606346 |
| Expenses: |  |
| Management services fees | 1115064 |
| Distribution and/or service fees |  |
| Class A | 294100 |
| Class C | 92293 |
| Transfer agent fees |  |
| Class A | 62446 |
| Class C | 4898 |
| Institutional Class | 52343 |
| Institutional 2 Class | 3928 |
| Institutional 3 Class | 243 |
| Custodian fees | 5941 |
| Printing and postage fees | 12831 |
| Registration fees | 10475 |
| Accounting services fees | 16256 |
| Legal fees | 16324 |
| Compensation of chief compliance officer | 39 |
| Compensation of board members | 8074 |
| Deferred compensation of board members | 15544 |
| Other | 8056 |
| Total expenses | 1718855 |
| Expense reduction | (40)<br>|
| Total net expenses | 1718815 |
| **Net investment income** | 7887531 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | (1740434)<br>|
| Net realized loss | (1740434)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 27832660 |
| Net change in unrealized appreciation (depreciation) | 27832660 |
| Net realized and unrealized gain | 26092226 |
| **Net increase in net assets resulting from operations** | **$33979757** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $7887531 | &nbsp;&nbsp; $16494803 |
| Net realized loss | (1740434)<br>| &nbsp;&nbsp; (11106430)<br>|
| Net change in unrealized appreciation (depreciation) | 27832660 | &nbsp;&nbsp; (13828592)<br>|
| Net increase (decrease) in net assets resulting from operations | 33979757 | &nbsp;&nbsp; (8440219)<br>|
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (3725708)<br>| &nbsp;&nbsp; (8117479)<br>|
| Advisor Class |  | &nbsp;&nbsp; (276812)<br>|
| Class C | (222659)<br>| &nbsp;&nbsp; (501007)<br>|
| Institutional Class | (3372409)<br>| &nbsp;&nbsp; (6662833)<br>|
| Institutional 2 Class | (253114)<br>| &nbsp;&nbsp; (549294)<br>|
| Institutional 3 Class | (192869)<br>| &nbsp;&nbsp; (422617)<br>|
| Total distributions to shareholders | (7766759)<br>| &nbsp;&nbsp; (16530042)<br>|
| Increase (decrease) in net assets from capital stock activity | 947871 | &nbsp;&nbsp; (33942738)<br>|
| Total increase (decrease) in net assets | 27160869 | &nbsp;&nbsp; (58912999)<br>|
| Net assets at beginning of period | 461142016 | &nbsp;&nbsp; 520055015 |
| **Net assets at end of period** | **$488302885** | &nbsp;&nbsp; **$461142016** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Statement of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 643040 | &nbsp;&nbsp;&nbsp;&nbsp; 12608884 | &nbsp;&nbsp;&nbsp;&nbsp; 1072102 | &nbsp;&nbsp;&nbsp;&nbsp; 20846555 |
| Distributions reinvested | 187868 | &nbsp;&nbsp;&nbsp;&nbsp; 3672610 | &nbsp;&nbsp;&nbsp;&nbsp; 411248 | &nbsp;&nbsp;&nbsp;&nbsp; 7988899 |
| Shares redeemed | (1382480)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (26985947)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2733967)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (52822422)<br>|
| Net decrease | (551572)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10704453)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1250617)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (23986968)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 93408 | &nbsp;&nbsp;&nbsp;&nbsp; 1854560 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11165 | &nbsp;&nbsp;&nbsp;&nbsp; 221221 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1424420)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (28173050)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1319847)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (26097269)<br>|
| Class C |  |  |  |  |
| Shares sold | 107150 | &nbsp;&nbsp;&nbsp;&nbsp; 2097164 | &nbsp;&nbsp;&nbsp;&nbsp; 112729 | &nbsp;&nbsp;&nbsp;&nbsp; 2212136 |
| Distributions reinvested | 11200 | &nbsp;&nbsp;&nbsp;&nbsp; 218983 | &nbsp;&nbsp;&nbsp;&nbsp; 25522 | &nbsp;&nbsp;&nbsp;&nbsp; 495983 |
| Shares redeemed | (128145)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2500748)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (358624)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6974792)<br>|
| Net decrease | (9795)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (184601)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (220373)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4266673)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 1808188 | &nbsp;&nbsp;&nbsp;&nbsp; 35244989 | &nbsp;&nbsp;&nbsp;&nbsp; 5095090 | &nbsp;&nbsp;&nbsp;&nbsp; 99092435 |
| Distributions reinvested | 171046 | &nbsp;&nbsp;&nbsp;&nbsp; 3342411 | &nbsp;&nbsp;&nbsp;&nbsp; 340491 | &nbsp;&nbsp;&nbsp;&nbsp; 6600002 |
| Shares redeemed | (1506772)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (29233377)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4212792)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (80624156)<br>|
| Net increase | 472462 | &nbsp;&nbsp;&nbsp;&nbsp; 9354023 | &nbsp;&nbsp;&nbsp;&nbsp; 1222789 | &nbsp;&nbsp;&nbsp;&nbsp; 25068281 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 103325 | &nbsp;&nbsp;&nbsp;&nbsp; 2023397 | &nbsp;&nbsp;&nbsp;&nbsp; 159921 | &nbsp;&nbsp;&nbsp;&nbsp; 3087167 |
| Distributions reinvested | 12658 | &nbsp;&nbsp;&nbsp;&nbsp; 247220 | &nbsp;&nbsp;&nbsp;&nbsp; 27686 | &nbsp;&nbsp;&nbsp;&nbsp; 538005 |
| Shares redeemed | (64810)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1265945)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (368099)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7174533)<br>|
| Net increase (decrease) | 51173 | &nbsp;&nbsp;&nbsp;&nbsp; 1004672 | &nbsp;&nbsp;&nbsp;&nbsp; (180492)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3549361)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 159808 | &nbsp;&nbsp;&nbsp;&nbsp; 3117741 | &nbsp;&nbsp;&nbsp;&nbsp; 270896 | &nbsp;&nbsp;&nbsp;&nbsp; 5229744 |
| Distributions reinvested | 9731 | &nbsp;&nbsp;&nbsp;&nbsp; 190480 | &nbsp;&nbsp;&nbsp;&nbsp; 21746 | &nbsp;&nbsp;&nbsp;&nbsp; 422477 |
| Shares redeemed | (94352)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1829991)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (354483)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6762969)<br>|
| Net increase (decrease) | 75187 | &nbsp;&nbsp;&nbsp;&nbsp; 1478230 | &nbsp;&nbsp;&nbsp;&nbsp; (61841)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1110748)<br>|
| **Total net increase (decrease)** | **37455** | &nbsp;&nbsp;&nbsp;&nbsp; **947871** | &nbsp;&nbsp;&nbsp;&nbsp; **(1810381)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(33942738)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

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Columbia Minnesota Tax-Exempt Fund \| 2026

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Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $18.75 | 0.31 | 1.08 | 1.39 | &nbsp;&nbsp; (0.31)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.31)<br>|
| Year Ended 7/31/2025 | $19.70 | 0.62 | &nbsp;&nbsp; (0.95)<br>| &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.62)<br>|
| Year Ended 7/31/2024 | $19.33 | 0.60 | 0.38 | 0.98 | &nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.61)<br>|
| Year Ended 7/31/2023 | $20.33 | 0.57 | &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.57)<br>|
| Year Ended 7/31/2022 | $22.88 | 0.48 | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (2.03)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.52)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $22.56 | 0.48 | 0.34 | 0.82 | &nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.50)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $18.76 | 0.24 | 1.07 | 1.31 | &nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.24)<br>|
| Year Ended 7/31/2025 | $19.70 | 0.47 | &nbsp;&nbsp; (0.94)<br>| &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.47)<br>|
| Year Ended 7/31/2024 | $19.33 | 0.45 | 0.39 | 0.84 | &nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.47)<br>|
| Year Ended 7/31/2023 | $20.33 | 0.42 | &nbsp;&nbsp; (0.99)<br>| &nbsp;&nbsp; (0.57)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| Year Ended 7/31/2022 | $22.88 | 0.31 | &nbsp;&nbsp; (2.50)<br>| &nbsp;&nbsp; (2.19)<br>| &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.36)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $22.56 | 0.32 | 0.33 | 0.65 | &nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.33)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $18.74 | 0.34 | 1.06 | 1.40 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.33)<br>|
| Year Ended 7/31/2025 | $19.68 | 0.66 | &nbsp;&nbsp; (0.94)<br>| &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.66)<br>|
| Year Ended 7/31/2024 | $19.31 | 0.64 | 0.39 | 1.03 | &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.66)<br>|
| Year Ended 7/31/2023 | $20.32 | 0.62 | &nbsp;&nbsp; (1.01)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.62)<br>|
| Year Ended 7/31/2022 | $22.86 | 0.53 | &nbsp;&nbsp; (2.50)<br>| &nbsp;&nbsp; (1.97)<br>| &nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.57)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $22.54 | 0.54 | 0.34 | 0.88 | &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.56)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $18.73 | 0.34 | 1.06 | 1.40 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.33)<br>|
| Year Ended 7/31/2025 | $19.67 | 0.66 | &nbsp;&nbsp; (0.94)<br>| &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.66)<br>|
| Year Ended 7/31/2024 | $19.30 | 0.64 | 0.39 | 1.03 | &nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.66)<br>|
| Year Ended 7/31/2023 | $20.30 | 0.62 | &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.62)<br>|
| Year Ended 7/31/2022 | $22.85 | 0.53 | &nbsp;&nbsp; (2.51)<br>| &nbsp;&nbsp; (1.98)<br>| &nbsp;&nbsp; (0.53)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.57)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $22.53 | 0.54 | 0.33 | 0.87 | &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.55)<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $19.83 | &nbsp;&nbsp;&nbsp;&nbsp; 7.45% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.22% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $233974 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $18.75 | &nbsp;&nbsp;&nbsp;&nbsp; (1.75%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.16% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $231636 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.70 | &nbsp;&nbsp;&nbsp;&nbsp; 5.20% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.11% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $267948 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.33 | &nbsp;&nbsp;&nbsp;&nbsp; (2.06%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.92% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $301959 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $20.33 | &nbsp;&nbsp;&nbsp;&nbsp; (8.97%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.20% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $357808 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $22.88 | &nbsp;&nbsp;&nbsp;&nbsp; 3.69% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.15% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $457218 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $19.83 | &nbsp;&nbsp;&nbsp;&nbsp; 6.99% | &nbsp;&nbsp;&nbsp;&nbsp; 1.56% | &nbsp;&nbsp;&nbsp;&nbsp; 1.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.47% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $18671 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $18.76 | &nbsp;&nbsp;&nbsp;&nbsp; (2.43%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.41% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $17842 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.70 | &nbsp;&nbsp;&nbsp;&nbsp; 4.42% | &nbsp;&nbsp;&nbsp;&nbsp; 1.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.56% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.36% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $23083 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.33 | &nbsp;&nbsp;&nbsp;&nbsp; (2.79%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.16% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $29587 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $20.33 | &nbsp;&nbsp;&nbsp;&nbsp; (9.65%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.52% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.52% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.45% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $39886 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $22.88 | &nbsp;&nbsp;&nbsp;&nbsp; 2.91% | &nbsp;&nbsp;&nbsp;&nbsp; 1.52% | &nbsp;&nbsp;&nbsp;&nbsp; 1.52% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.41% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $49588 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $19.81 | &nbsp;&nbsp;&nbsp;&nbsp; 7.53% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.47% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $207613 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $18.74 | &nbsp;&nbsp;&nbsp;&nbsp; (1.46%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.42% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $187507 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.68 | &nbsp;&nbsp;&nbsp;&nbsp; 5.47% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.36% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $172891 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.31 | &nbsp;&nbsp;&nbsp;&nbsp; (1.86%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.17% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $176454 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $20.32 | &nbsp;&nbsp;&nbsp;&nbsp; (8.70%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.45% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $215892 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $22.86 | &nbsp;&nbsp;&nbsp;&nbsp; 3.86% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.39% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $262778 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $19.80 | &nbsp;&nbsp;&nbsp;&nbsp; 7.53% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 3.47% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $15791 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $18.73 | &nbsp;&nbsp;&nbsp;&nbsp; (1.46%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.40% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $13977 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.67 | &nbsp;&nbsp;&nbsp;&nbsp; 5.47% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.37% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $18233 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.30 | &nbsp;&nbsp;&nbsp;&nbsp; (1.82%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.17% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $8847 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $20.30 | &nbsp;&nbsp;&nbsp;&nbsp; (8.76%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.49% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $8937 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $22.85 | &nbsp;&nbsp;&nbsp;&nbsp; 3.99% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 2.39% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $6991 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $18.77 | 0.34 | 1.07 | 1.41 | &nbsp;&nbsp; (0.34)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.34)<br>|
| Year Ended 7/31/2025 | $19.71 | 0.67 | &nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; (0.68)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.68)<br>|
| Year Ended 7/31/2024 | $19.34 | 0.65 | 0.39 | 1.04 | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.67)<br>|
| Year Ended 7/31/2023 | $20.34 | 0.63 | &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.63)<br>|
| Year Ended 7/31/2022 | $22.90 | 0.54 | &nbsp;&nbsp; (2.52)<br>| &nbsp;&nbsp; (1.98)<br>| &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.58)<br>|
| Year Ended 7/31/2021<sup>(e)</sup> <br>| $22.58 | 0.55 | 0.34 | 0.89 | &nbsp;&nbsp; (0.56)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.57)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
| (d) | Ratios include interfund lending expense which is less than 0.01%. |
| (e) | 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.  |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $19.84 | &nbsp;&nbsp;&nbsp;&nbsp; 7.54% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% | &nbsp;&nbsp;&nbsp;&nbsp; 3.52% | &nbsp;&nbsp;&nbsp;&nbsp; 2% | &nbsp;&nbsp;&nbsp;&nbsp; $12254 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $18.77 | &nbsp;&nbsp;&nbsp;&nbsp; (1.41%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.47% | &nbsp;&nbsp;&nbsp;&nbsp; 13% | &nbsp;&nbsp;&nbsp;&nbsp; $10178 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $19.71 | &nbsp;&nbsp;&nbsp;&nbsp; 5.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.41% | &nbsp;&nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp;&nbsp;&nbsp; $11911 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $19.34 | &nbsp;&nbsp;&nbsp;&nbsp; (1.76%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.22% | &nbsp;&nbsp;&nbsp;&nbsp; 12% | &nbsp;&nbsp;&nbsp;&nbsp; $11380 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $20.34 | &nbsp;&nbsp;&nbsp;&nbsp; (8.73%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.50% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $14353 |
|  Year Ended 7/31/2021 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $22.90 | &nbsp;&nbsp;&nbsp;&nbsp; 4.09% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 2.43% | &nbsp;&nbsp;&nbsp;&nbsp; 7% | &nbsp;&nbsp;&nbsp;&nbsp; $16740 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Minnesota Tax-Exempt Fund (the Fund), a series of Columbia Funds Series Trust II (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 and Institutional 3 Class shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Debt securities generally are valued based on prices obtained from pricing services, which are intended to reflect market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques that take into account, as applicable, factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as approved independent broker-dealer quotes. Debt securities for which quotations are not readily available or not believed to be reflective of market value may also be valued based upon a bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted.

The Fund may place a debt security on non-accrual status and reduce related interest income when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. The Fund may also adjust accrual rates when it becomes probable the full interest will not be collected and a partial payment will be received. A defaulted debt security is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Dividend income is recorded on the ex-dividend date.

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its net tax-exempt and investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.47% to 0.31% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.47% of the Fund's average daily net assets.

**Compensation of Board members**

Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund's liability for these amounts is adjusted for market value changes and remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees' fees deferred during the current period as well as any gains or losses on the Trustees' deferred compensation balances as a result of market fluctuations, is included in "Deferred compensation of board members" in the Statement of Operations.

**Compensation of Chief Compliance Officer**

The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer's total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.05 |
| Class C | 0.05 |
| Institutional Class | 0.05 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.00 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $40.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and 1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $451,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.

**Sales charges** 

Sales charges, including front-end charges and CDSCs, received by the Distributor for distributing Fund shares for the six months ended January 31, 2026, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 3.00<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.75 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 18678 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 167 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.

The Fund's other share classes are not subject to sales charges.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.84 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.59 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.55 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>|
| 509929000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2376000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27869000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25493000)<br>|

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

The following capital loss carryforwards, determined at July 31, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code.

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
| (6314062)<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; (35443005)<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; (41757067)<br>|

---

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Columbia Minnesota Tax-Exempt Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $7,445,101 and $32,319,299, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Interfund lending

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.

Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager's relationship with each Participating Fund.

The Fund did not borrow or lend money under the Interfund Program during the six months ended January 31, 2026.

Note 7. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 8. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

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 Minnesota Tax-Exempt Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 64.2% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 9. Subsequent events

Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosure.

Note 10. Information regarding pending and settled legal proceedings

Ameriprise Financial and certain of its affiliates are involved, in the normal course of business, in legal proceedings that include regulatory inquiries, arbitration and litigation (including class actions) concerning matters arising in connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund. Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the Securities and Exchange Commission (SEC) on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased Fund redemptions, reduced sale of Fund shares or other adverse consequences to the Fund. Further, although we believe proceedings are not likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund, these proceedings are subject to uncertainties and, as such, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to reasonably estimate the amount of any loss that may result from such matters. An adverse outcome in one or more of these proceedings could result in adverse judgments, settlements, fines, penalties or other relief, and may lead to further claims, examinations, adverse publicity or reputational damage, each of which could have a material adverse effect on the consolidated financial condition or results of operations or financial condition of Ameriprise Financial or one or more of its affiliates that provide services to the Fund.

Columbia Minnesota Tax-Exempt Fund \| 2026

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**Columbia Minnesota Tax-Exempt Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035imgff39cc9b2.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR199_07_T01_(03/26)

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![](g80035imgde5ab6be1.jpg)

Columbia Select Short Corporate Income Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

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|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

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**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| [Portfolio of Investments](#xx_51bced20-1e14-4058-8d94-6475d58764a7_POI-CommonContent-Date-101_1) | 3 |
| [Statement of Assets and Liabilities](#xx_51bced20-1e14-4058-8d94-6475d58764a7_FS-CommonContent-Date-101_1) | 8 |
| [Statement of Operations](#xx_51bced20-1e14-4058-8d94-6475d58764a7_FS-CommonContent-Date-101_2) | 9 |
| [Statement of Changes in Net Assets](#xx_51bced20-1e14-4058-8d94-6475d58764a7_FS-CommonContent-Date-101_3) | 10 |
| [Financial Highlights](#xx_51bced20-1e14-4058-8d94-6475d58764a7_FIHI-CommonContent-Date-101_1) | 12 |
| [Notes to Financial Statements](#xx_51bced20-1e14-4058-8d94-6475d58764a7_NTF-CommonContent-Date-101_1) | 16 |

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Columbia Select Short Corporate Income Fund \| 2026

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Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes 89.4%** | **Corporate Bonds & Notes 89.4%** | **Corporate Bonds & Notes 89.4%** | **Corporate Bonds & Notes 89.4%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Aerospace & Defense 8.5%** | **Aerospace & Defense 8.5%** | **Aerospace & Defense 8.5%** | **Aerospace & Defense 8.5%** |
| 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% | 5667000 | &nbsp;&nbsp; 5834772 |
| Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) | Boeing Co. (The) |
| 03/01/2029 | &nbsp;&nbsp; 3.200% | 1610000 | &nbsp;&nbsp; 1564223 |
| 05/01/2029 | &nbsp;&nbsp; 6.298% | 3060000 | &nbsp;&nbsp; 3250390 |
| L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | L3Harris Technologies, Inc. |
| 01/15/2027 | &nbsp;&nbsp; 5.400% | 7033000 | &nbsp;&nbsp; 7130909 |
| 06/01/2029 | &nbsp;&nbsp; 5.050% | 2145000 | &nbsp;&nbsp; 2203878 |
| Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. | Lockheed Martin Corp. |
| 08/15/2030 | &nbsp;&nbsp; 4.400% | 1480000 | &nbsp;&nbsp; 1495098 |
| Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. | Northrop Grumman Corp. |
| 02/01/2027 | &nbsp;&nbsp; 3.200% | 8594000 | &nbsp;&nbsp; 8545951 |
| Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. | Raytheon Technologies Corp. |
| 03/15/2027 | &nbsp;&nbsp; 3.500% | 7362000 | &nbsp;&nbsp; 7328252 |
| United Technologies Corp. | United Technologies Corp. | United Technologies Corp. | United Technologies Corp. |
| 11/16/2028 | &nbsp;&nbsp; 4.125% | 4945000 | &nbsp;&nbsp; 4967577 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **42321050** |
| **Banking 18.4%** | **Banking 18.4%** | **Banking 18.4%** | **Banking 18.4%** |
| Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  | Bank of America Corp.<sup>(b)</sup>  |
| 10/24/2031 | &nbsp;&nbsp; 1.922% | 12991000 | &nbsp;&nbsp; 11620889 |
| Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  | Citigroup, Inc.<sup>(b)</sup>  |
| 09/11/2031 | &nbsp;&nbsp; 4.503% | 8979000 | &nbsp;&nbsp; 8986104 |
| Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  | Goldman Sachs Group, Inc. (The)<sup>(b)</sup>  |
| 10/21/2031 | &nbsp;&nbsp; 4.369% | 4972000 | &nbsp;&nbsp; 4945432 |
| 01/21/2032 | &nbsp;&nbsp; 5.065% | 4548000 | &nbsp;&nbsp; 4544936 |
| HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  | HSBC Holdings PLC<sup>(b)</sup>  |
| 11/06/2031 | &nbsp;&nbsp; 4.619% | 7031000 | &nbsp;&nbsp; 7056729 |
| JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  | JPMorgan Chase & Co.<sup>(b)</sup>  |
| 10/22/2030 | &nbsp;&nbsp; 4.603% | 2627000 | &nbsp;&nbsp; 2663403 |
| 10/22/2031 | &nbsp;&nbsp; 4.255% | 7305000 | &nbsp;&nbsp; 7264817 |
| 01/22/2032 | &nbsp;&nbsp; 4.347% | 4867000 | &nbsp;&nbsp; 4855640 |
| Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  | Morgan Stanley<sup>(b)</sup>  |
| 01/16/2032 | &nbsp;&nbsp; 4.493% | 8400000 | &nbsp;&nbsp; 8393395 |
| Morgan Stanley Private Bank<sup>(b)</sup>  | Morgan Stanley Private Bank<sup>(b)</sup>  | Morgan Stanley Private Bank<sup>(b)</sup>  | Morgan Stanley Private Bank<sup>(b)</sup>  |
| 11/19/2031 | &nbsp;&nbsp; 4.465% | 9552000 | &nbsp;&nbsp; 9555484 |
| PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  | PNC Financial Services Group, Inc. (The)<sup>(b)</sup>  |
| 05/13/2031 | &nbsp;&nbsp; 4.899% | 2068000 | &nbsp;&nbsp; 2111212 |
| Royal Bank of Canada<sup>(b)</sup>  | Royal Bank of Canada<sup>(b)</sup>  | Royal Bank of Canada<sup>(b)</sup>  | Royal Bank of Canada<sup>(b)</sup>  |
| 02/04/2031 | &nbsp;&nbsp; 5.153% | 3125000 | &nbsp;&nbsp; 3218358 |
| 08/06/2031 | &nbsp;&nbsp; 4.696% | 2061000 | &nbsp;&nbsp; 2086504 |
| 11/03/2031 | &nbsp;&nbsp; 4.305% | 7234000 | &nbsp;&nbsp; 7208141 |

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| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  | Wells Fargo & Co.<sup>(b)</sup>  |
| 04/23/2031 | &nbsp;&nbsp; 5.150% | 6659000 | &nbsp;&nbsp; 6857437 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **91368481** |
| **Building Materials 0.6%** | **Building Materials 0.6%** | **Building Materials 0.6%** | **Building Materials 0.6%** |
| JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  | JH North America Holdings, Inc.<sup>(a)</sup>  |
| 01/31/2031 | &nbsp;&nbsp; 5.875% | 162000 | &nbsp;&nbsp; 164840 |
| 07/31/2032 | &nbsp;&nbsp; 6.125% | 2808000 | &nbsp;&nbsp; 2866861 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3031701** |
| **Cable and Satellite 0.8%** | **Cable and Satellite 0.8%** | **Cable and Satellite 0.8%** | **Cable and Satellite 0.8%** |
| Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital | Charter Communications Operating LLC/Capital |
| 04/01/2031 | &nbsp;&nbsp; 2.800% | 4313000 | &nbsp;&nbsp; 3888351 |
| **Chemicals 2.3%** | **Chemicals 2.3%** | **Chemicals 2.3%** | **Chemicals 2.3%** |
| LYB Finance Co. BV<sup>(a)</sup>  | LYB Finance Co. BV<sup>(a)</sup>  | LYB Finance Co. BV<sup>(a)</sup>  | LYB Finance Co. BV<sup>(a)</sup>  |
| 03/15/2027 | &nbsp;&nbsp; 8.100% | 3621000 | &nbsp;&nbsp; 3768952 |
| LYB International Finance III LLC | LYB International Finance III LLC | LYB International Finance III LLC | LYB International Finance III LLC |
| 01/15/2031 | &nbsp;&nbsp; 5.125% | 7568000 | &nbsp;&nbsp; 7605128 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11374080** |
| **Electric 7.7%** | **Electric 7.7%** | **Electric 7.7%** | **Electric 7.7%** |
| AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. | AEP Texas, Inc. |
| 07/01/2030 | &nbsp;&nbsp; 2.100% | 4758000 | &nbsp;&nbsp; 4340265 |
| Emera US Finance LP | Emera US Finance LP | Emera US Finance LP | Emera US Finance LP |
| 06/15/2026 | &nbsp;&nbsp; 3.550% | 8192000 | &nbsp;&nbsp; 8167351 |
| FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC | FirstEnergy Transmission LLC |
| 01/15/2030 | &nbsp;&nbsp; 4.550% | 5605000 | &nbsp;&nbsp; 5636238 |
| NRG Energy, Inc.<sup>(a)</sup>  | NRG Energy, Inc.<sup>(a)</sup>  | NRG Energy, Inc.<sup>(a)</sup>  | NRG Energy, Inc.<sup>(a)</sup>  |
| 12/02/2027 | &nbsp;&nbsp; 2.450% | 4717000 | &nbsp;&nbsp; 4562045 |
| Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. | Pacific Gas and Electric Co. |
| 06/15/2028 | &nbsp;&nbsp; 3.000% | 6837000 | &nbsp;&nbsp; 6652677 |
| Pennsylvania Electric Co.<sup>(a)</sup>  | Pennsylvania Electric Co.<sup>(a)</sup>  | Pennsylvania Electric Co.<sup>(a)</sup>  | Pennsylvania Electric Co.<sup>(a)</sup>  |
| 03/30/2026 | &nbsp;&nbsp; 5.150% | 862000 | &nbsp;&nbsp; 863739 |
| WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. | WEC Energy Group, Inc. |
| 09/12/2026 | &nbsp;&nbsp; 5.600% | 1058000 | &nbsp;&nbsp; 1067042 |
| Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. | Xcel Energy, Inc. |
| 12/01/2029 | &nbsp;&nbsp; 2.600% | 7256000 | &nbsp;&nbsp; 6842120 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **38131477** |
| **Food and Beverage 10.1%** | **Food and Beverage 10.1%** | **Food and Beverage 10.1%** | **Food and Beverage 10.1%** |
| Bacardi-Martini BV<sup>(a)</sup>  | Bacardi-Martini BV<sup>(a)</sup>  | Bacardi-Martini BV<sup>(a)</sup>  | Bacardi-Martini BV<sup>(a)</sup>  |
| 02/01/2030 | &nbsp;&nbsp; 5.550% | 12905000 | &nbsp;&nbsp; 13297376 |
| General Mills, Inc. | General Mills, Inc. | General Mills, Inc. | General Mills, Inc. |
| 01/30/2027 | &nbsp;&nbsp; 4.700% | 4664000 | &nbsp;&nbsp; 4695568 |

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The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

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Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

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| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Heineken NV<sup>(a)</sup>  | Heineken NV<sup>(a)</sup>  | Heineken NV<sup>(a)</sup>  | Heineken NV<sup>(a)</sup>  |
| 01/29/2028 | &nbsp;&nbsp; 3.500% | 8177000 | &nbsp;&nbsp; 8096915 |
| Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. |
| 03/15/2027 | &nbsp;&nbsp; 5.100% | 8210000 | &nbsp;&nbsp; 8298514 |
| Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. | Kraft Heinz Foods Co. |
| 04/01/2030 | &nbsp;&nbsp; 3.750% | 6665000 | &nbsp;&nbsp; 6517602 |
| Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  | Mars, Inc.<sup>(a)</sup>  |
| 03/01/2030 | &nbsp;&nbsp; 4.800% | 3864000 | &nbsp;&nbsp; 3946674 |
| Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. | Tyson Foods, Inc. |
| 06/02/2027 | &nbsp;&nbsp; 3.550% | 5054000 | &nbsp;&nbsp; 5024149 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **49876798** |
| **Health Care 2.1%** | **Health Care 2.1%** | **Health Care 2.1%** | **Health Care 2.1%** |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| 04/01/2030 | &nbsp;&nbsp; 3.750% | 2045000 | &nbsp;&nbsp; 1993237 |
| GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. | GE HealthCare Technologies, Inc. |
| 12/15/2028 | &nbsp;&nbsp; 4.150% | 1758000 | &nbsp;&nbsp; 1763049 |
| HCA, Inc. | HCA, Inc. | HCA, Inc. | HCA, Inc. |
| 03/15/2027 | &nbsp;&nbsp; 3.125% | 1856000 | &nbsp;&nbsp; 1838591 |
| 09/01/2030 | &nbsp;&nbsp; 3.500% | 5151000 | &nbsp;&nbsp; 4953126 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **10548003** |
| **Healthcare Insurance 2.6%** | **Healthcare Insurance 2.6%** | **Healthcare Insurance 2.6%** | **Healthcare Insurance 2.6%** |
| Centene Corp. | Centene Corp. | Centene Corp. | Centene Corp. |
| 02/15/2030 | &nbsp;&nbsp; 3.375% | 4282000 | &nbsp;&nbsp; 3951362 |
| UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. | UnitedHealth Group, Inc. |
| 12/15/2028 | &nbsp;&nbsp; 3.875% | 2605000 | &nbsp;&nbsp; 2601061 |
| 05/15/2030 | &nbsp;&nbsp; 2.000% | 4962000 | &nbsp;&nbsp; 4529346 |
| 01/15/2031 | &nbsp;&nbsp; 4.650% | 1926000 | &nbsp;&nbsp; 1950010 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **13031779** |
| **Independent Energy 4.1%** | **Independent Energy 4.1%** | **Independent Energy 4.1%** | **Independent Energy 4.1%** |
| APA Corp. | APA Corp. | APA Corp. | APA Corp. |
| 01/15/2030 | &nbsp;&nbsp; 4.250% | 3386000 | &nbsp;&nbsp; 3344766 |
| Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. | Occidental Petroleum Corp. |
| 09/01/2030 | &nbsp;&nbsp; 6.625% | 9487000 | &nbsp;&nbsp; 10200073 |
| Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. | Woodside Finance Ltd. |
| 05/19/2030 | &nbsp;&nbsp; 5.400% | 6703000 | &nbsp;&nbsp; 6896347 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **20441186** |
| **Integrated Energy 1.1%** | **Integrated Energy 1.1%** | **Integrated Energy 1.1%** | **Integrated Energy 1.1%** |
| 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% | 5300000 | &nbsp;&nbsp; 5406879 |

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| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Life Insurance 9.4%** | **Life Insurance 9.4%** | **Life Insurance 9.4%** | **Life Insurance 9.4%** |
| Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  | Corebridge Global Funding<sup>(a)</sup>  |
| 08/21/2028 | &nbsp;&nbsp; 4.250% | 2473000 | &nbsp;&nbsp; 2480072 |
| 06/06/2030 | &nbsp;&nbsp; 4.850% | 2746000 | &nbsp;&nbsp; 2783588 |
| 10/02/2030 | &nbsp;&nbsp; 4.450% | 2855000 | &nbsp;&nbsp; 2848104 |
| 01/09/2031 | &nbsp;&nbsp; 4.550% | 1262000 | &nbsp;&nbsp; 1259249 |
| 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>  |
| 10/01/2027 | &nbsp;&nbsp; 4.000% | 1020000 | &nbsp;&nbsp; 1021882 |
| 09/16/2030 | &nbsp;&nbsp; 4.200% | 972000 | &nbsp;&nbsp; 967208 |
| Metropolitan Life Global Funding I<sup>(a)</sup>  | Metropolitan Life Global Funding I<sup>(a)</sup>  | Metropolitan Life Global Funding I<sup>(a)</sup>  | Metropolitan Life Global Funding I<sup>(a)</sup>  |
| 01/12/2031 | &nbsp;&nbsp; 4.350% | 1468000 | &nbsp;&nbsp; 1467407 |
| New York Life Global Funding<sup>(a)</sup>  | New York Life Global Funding<sup>(a)</sup>  | New York Life Global Funding<sup>(a)</sup>  | New York Life Global Funding<sup>(a)</sup>  |
| 12/05/2029 | &nbsp;&nbsp; 4.600% | 2434000 | &nbsp;&nbsp; 2473427 |
| Northwestern Mutual Global Funding<sup>(a)</sup>  | Northwestern Mutual Global Funding<sup>(a)</sup>  | Northwestern Mutual Global Funding<sup>(a)</sup>  | Northwestern Mutual Global Funding<sup>(a)</sup>  |
| 05/28/2031 | &nbsp;&nbsp; 5.160% | 5852000 | &nbsp;&nbsp; 6063101 |
| Pacific Life Global Funding II<sup>(a)</sup>  | Pacific Life Global Funding II<sup>(a)</sup>  | Pacific Life Global Funding II<sup>(a)</sup>  | Pacific Life Global Funding II<sup>(a)</sup>  |
| 01/11/2032 | &nbsp;&nbsp; 2.450% | 2235000 | &nbsp;&nbsp; 1988894 |
| Pricoa Global Funding I<sup>(a)</sup>  | Pricoa Global Funding I<sup>(a)</sup>  | Pricoa Global Funding I<sup>(a)</sup>  | Pricoa Global Funding I<sup>(a)</sup>  |
| 11/25/2030 | &nbsp;&nbsp; 4.350% | 3815000 | &nbsp;&nbsp; 3816091 |
| Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  | Principal Life Global Funding II<sup>(a)</sup>  |
| 01/09/2028 | &nbsp;&nbsp; 4.800% | 2135000 | &nbsp;&nbsp; 2164701 |
| 11/27/2029 | &nbsp;&nbsp; 4.950% | 14766000 | &nbsp;&nbsp; 15110670 |
| Voya Global Funding<sup>(a)</sup>  | Voya Global Funding<sup>(a)</sup>  | Voya Global Funding<sup>(a)</sup>  | Voya Global Funding<sup>(a)</sup>  |
| 11/24/2030 | &nbsp;&nbsp; 4.600% | 2385000 | &nbsp;&nbsp; 2395591 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **46839985** |
| **Media and Entertainment 1.1%** | **Media and Entertainment 1.1%** | **Media and Entertainment 1.1%** | **Media and Entertainment 1.1%** |
| Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. | Meta Platforms, Inc. |
| 11/15/2030 | &nbsp;&nbsp; 4.200% | 3827000 | &nbsp;&nbsp; 3819641 |
| 11/15/2035 | &nbsp;&nbsp; 4.875% | 1382000 | &nbsp;&nbsp; 1365536 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5185177** |
| **Midstream 4.4%** | **Midstream 4.4%** | **Midstream 4.4%** | **Midstream 4.4%** |
| Colorado Interstate Gas Co. LLC/Issuing Corp.<sup>(a)</sup>  | Colorado Interstate Gas Co. LLC/Issuing Corp.<sup>(a)</sup>  | Colorado Interstate Gas Co. LLC/Issuing Corp.<sup>(a)</sup>  | Colorado Interstate Gas Co. LLC/Issuing Corp.<sup>(a)</sup>  |
| 08/15/2026 | &nbsp;&nbsp; 4.150% | 6112000 | &nbsp;&nbsp; 6109226 |
| Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. | Enbridge, Inc. |
| 02/15/2031 | &nbsp;&nbsp; 4.500% | 5040000 | &nbsp;&nbsp; 5039623 |
| Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. | Plains All American Pipeline LP/Finance Corp. |
| 12/15/2026 | &nbsp;&nbsp; 4.500% | 6835000 | &nbsp;&nbsp; 6854302 |
| Western Midstream Operating LP | Western Midstream Operating LP | Western Midstream Operating LP | Western Midstream Operating LP |
| 01/15/2029 | &nbsp;&nbsp; 6.350% | 3751000 | &nbsp;&nbsp; 3955812 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **21958963** |
| **Natural Gas 1.1%** | **Natural Gas 1.1%** | **Natural Gas 1.1%** | **Natural Gas 1.1%** |
| NiSource, Inc. | NiSource, Inc. | NiSource, Inc. | NiSource, Inc. |
| 07/01/2029 | &nbsp;&nbsp; 5.200% | 5157000 | &nbsp;&nbsp; 5318318 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Pharmaceuticals 4.3%** | **Pharmaceuticals 4.3%** | **Pharmaceuticals 4.3%** | **Pharmaceuticals 4.3%** |
| Amgen, Inc. | Amgen, Inc. | Amgen, Inc. | Amgen, Inc. |
| 03/02/2030 | &nbsp;&nbsp; 5.250% | 6030000 | &nbsp;&nbsp; 6257325 |
| Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. | Gilead Sciences, Inc. |
| 03/01/2026 | &nbsp;&nbsp; 3.650% | 10736000 | &nbsp;&nbsp; 10731409 |
| Merck & Co., Inc. | Merck & Co., Inc. | Merck & Co., Inc. | Merck & Co., Inc. |
| 03/15/2031 | &nbsp;&nbsp; 4.150% | 4372000 | &nbsp;&nbsp; 4354333 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **21343067** |
| **Railroads 0.7%** | **Railroads 0.7%** | **Railroads 0.7%** | **Railroads 0.7%** |
| Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. | Canadian Pacific Railway Co. |
| 12/02/2031 | &nbsp;&nbsp; 2.450% | 3905000 | &nbsp;&nbsp; 3509876 |
| **Retailers 0.6%** | **Retailers 0.6%** | **Retailers 0.6%** | **Retailers 0.6%** |
| Lowe's Cos, Inc. | Lowe's Cos, Inc. | Lowe's Cos, Inc. | Lowe's Cos, Inc. |
| 10/15/2028 | &nbsp;&nbsp; 4.000% | 3106000 | &nbsp;&nbsp; 3109306 |
| **Technology 4.0%** | **Technology 4.0%** | **Technology 4.0%** | **Technology 4.0%** |
| Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. | Alphabet, Inc. |
| 11/15/2030 | &nbsp;&nbsp; 4.100% | 2824000 | &nbsp;&nbsp; 2827213 |
| Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. | Broadcom, Inc. |
| 02/15/2030 | &nbsp;&nbsp; 4.350% | 3089000 | &nbsp;&nbsp; 3107156 |
| Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  | Foundry JV Holdco LLC<sup>(a)</sup>  |
| 01/25/2031 | &nbsp;&nbsp; 5.500% | 6456000 | &nbsp;&nbsp; 6686886 |
| Intel Corp. | Intel Corp. | Intel Corp. | Intel Corp. |
| 11/15/2029 | &nbsp;&nbsp; 2.450% | 1600000 | &nbsp;&nbsp; 1497715 |
| Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
| 09/26/2032 | &nbsp;&nbsp; 4.800% | 5881000 | &nbsp;&nbsp; 5692074 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **19811044** |
| **Transportation Services 0.4%** | **Transportation Services 0.4%** | **Transportation Services 0.4%** | **Transportation Services 0.4%** |
| ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  | ERAC USA Finance LLC<sup>(a)</sup>  |
| 05/01/2028 | &nbsp;&nbsp; 4.600% | 1860000 | &nbsp;&nbsp; 1884510 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** | **Corporate Bonds & Notes (continued)** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Wireless 4.3%** | **Wireless 4.3%** | **Wireless 4.3%** | **Wireless 4.3%** |
| Sprint Spectrum Co. I/II/III LLC<sup>(a)</sup>  | Sprint Spectrum Co. I/II/III LLC<sup>(a)</sup>  | Sprint Spectrum Co. I/II/III LLC<sup>(a)</sup>  | Sprint Spectrum Co. I/II/III LLC<sup>(a)</sup>  |
| 03/20/2028 | &nbsp;&nbsp; 5.152% | 5989950 | &nbsp;&nbsp; 6028660 |
| T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. | T-Mobile US, Inc. |
| 02/15/2026 | &nbsp;&nbsp; 2.250% | 8850000 | &nbsp;&nbsp; 8842194 |
| 04/15/2027 | &nbsp;&nbsp; 3.750% | 3468000 | &nbsp;&nbsp; 3459176 |
| 04/15/2030 | &nbsp;&nbsp; 3.875% | 3093000 | &nbsp;&nbsp; 3038565 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **21368595** |
| **Wirelines 0.8%** | **Wirelines 0.8%** | **Wirelines 0.8%** | **Wirelines 0.8%** |
| Orange SA<sup>(a)</sup>  | Orange SA<sup>(a)</sup>  | Orange SA<sup>(a)</sup>  | Orange SA<sup>(a)</sup>  |
| 01/13/2031 | &nbsp;&nbsp; 4.250% | 3756000 | &nbsp;&nbsp; 3724007 |
| Total Corporate Bonds & Notes <br>(Cost $439,238,616) | Total Corporate Bonds & Notes <br>(Cost $439,238,616) | Total Corporate Bonds & Notes <br>(Cost $439,238,616) | &nbsp;&nbsp; **443472633** |
| **U.S. Treasury Obligations 2.7%** | **U.S. Treasury Obligations 2.7%** | **U.S. Treasury Obligations 2.7%** | **U.S. Treasury Obligations 2.7%** |
| U.S. Treasury | U.S. Treasury | U.S. Treasury | U.S. Treasury |
| 01/31/2026 | &nbsp;&nbsp; 0.375% | 12700000 | &nbsp;&nbsp; 12698835 |
| 12/31/2031 | &nbsp;&nbsp; 4.500% | 883000 | &nbsp;&nbsp; 909835 |
| Total U.S. Treasury Obligations <br>(Cost $13,585,954) | Total U.S. Treasury Obligations <br>(Cost $13,585,954) | Total U.S. Treasury Obligations <br>(Cost $13,585,954) | &nbsp;&nbsp; **13608670** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Money Market Funds 6.7%** | **Money Market Funds 6.7%** | **Money Market Funds 6.7%** |
|  | **Shares** | **Value ($)** |
| Columbia Short-Term Cash Fund, 3.776%<sup>(c),(d)</sup> <br>| &nbsp;&nbsp; 33067217 | &nbsp;&nbsp; 33057297 |
| Total Money Market Funds <br>(Cost $33,059,928) | Total Money Market Funds <br>(Cost $33,059,928) | &nbsp;&nbsp; **33057297** |
| **Total Investments in Securities** <br>**(Cost: $485,884,498)** | **Total Investments in Securities** <br>**(Cost: $485,884,498)** | &nbsp;&nbsp; **490138600** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **5810129** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **495948729** |

---

At January 31, 2026, securities and/or cash totaling $1,475,591 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 2-Year Note | 141 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 29397399 | &nbsp;&nbsp;&nbsp;&nbsp; 11189 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 2-Year Note | 766 | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 159705016 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (198858)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11189 | &nbsp;&nbsp;&nbsp;&nbsp; (198858)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** | **Short futures contracts** |
| **Description** | **Number of** <br>**contracts**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Expiration** <br>**date**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Trading** <br>**currency**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**amount**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp; **Value/Unrealized** <br>**depreciation ($)**<br>|
| U.S. Treasury 10-Year Note | (90) | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (10064531)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 124353 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury 5-Year Note | (769) | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (83766930)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 304975 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury Ultra 10-Year Note | (14) | 03/2026 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (1598188)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 17797 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 447125 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $114,675,448, which represents 23.12% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The rate shown is the seven-day current annualized yield at January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company's outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended January 31, 2026 are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated issuers** | **Beginning** <br>**of period($)**<br>| **Purchases($)** | **Sales($)** | **Net change in** <br>**unrealized** <br>**appreciation** <br>**(depreciation)($)**<br>| **End of** <br>**period($)**<br>| **Realized gain** <br>**(loss)($)**<br>| **Dividends($)** | **End of** <br>**period shares**<br>|
| Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% | Columbia Short-Term Cash Fund, 3.776% |
|  | 32049000 | &nbsp;&nbsp; 184009992 | &nbsp;&nbsp; (182999443)<br>| &nbsp;&nbsp; (2252)<br>| &nbsp;&nbsp; 33057297 | &nbsp;&nbsp; 1124 | &nbsp;&nbsp; 704432 | &nbsp;&nbsp; 33067217 |

---

**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 accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Corporate Bonds & Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 443472633 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 443472633 |
| U.S. Treasury Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 13608670 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13608670 |
| Money Market Funds | 33057297 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33057297 |
| Total Investments in Securities | 33057297 | &nbsp;&nbsp;&nbsp;&nbsp; 457081303 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 490138600 |
| **Investments in Derivatives** |  |  |  |  |
| Asset |  |  |  |  |
| Futures Contracts | 458314 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 458314 |
| Liability |  |  |  |  |
| Futures Contracts | (198858)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (198858)<br>|
| Total | 33316753 | &nbsp;&nbsp;&nbsp;&nbsp; 457081303 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 490398056 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

Derivative instruments are valued at unrealized appreciation (depreciation).

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $452,824,570) | $457081303 |
| Affiliated issuers (cost $33,059,928) | 33057297 |
| Margin deposits on: |  |
| Futures contracts | 1475591 |
| Receivable for: |  |
| Capital shares sold | 2002252 |
| Dividends | 107847 |
| Interest | 4837343 |
| Variation margin for futures contracts | 84961 |
| Expense reimbursement due from Investment Manager | 2246 |
| Prepaid expenses | 3813 |
| Other assets | 1416 |
| Total assets | 498654069 |
| **Liabilities** |  |
| Payable for: |  |
| Capital shares redeemed | 730646 |
| Distributions to shareholders | 1649702 |
| Variation margin for futures contracts | 43912 |
| Management services fees | 5831 |
| Distribution and/or service fees | 1048 |
| Transfer agent fees | 86273 |
| Compensation of chief compliance officer | 41 |
| Compensation of board members | 863 |
| Other expenses | 30738 |
| Deferred compensation of board members | 156286 |
| Total liabilities | 2705340 |
| **Net assets applicable to outstanding capital stock** | **$495948729** |
| **Represented by** |  |
| Paid in capital | 540544287 |
| Total distributable earnings (loss) | (44595558)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$495948729** |
| **Class A** |  |
| Net assets | $125677599 |
| Shares outstanding | 12547205 |
| Net asset value per share | $10.02 |
| Maximum sales charge  | 1.00% |
| 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) | $10.12 |
| **Class C** |  |
| Net assets | $6844864 |
| Shares outstanding | 683409 |
| Net asset value per share | $10.02 |
| **Institutional Class** |  |
| Net assets | $311668488 |
| Shares outstanding | 31091227 |
| Net asset value per share | $10.02 |
| **Institutional 2 Class** |  |
| Net assets | $12605276 |
| Shares outstanding | 1257264 |
| Net asset value per share | $10.03 |
| **Institutional 3 Class** |  |
| Net assets | $39152502 |
| Shares outstanding | 3906351 |
| Net asset value per share | $10.02 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — affiliated issuers | $704432 |
| Interest | 10732055 |
| Interfund lending | 793 |
| Total income | 11437280 |
| Expenses: |  |
| Management services fees | 1092340 |
| Distribution and/or service fees |  |
| Class A | 160432 |
| Class C | 38116 |
| Transfer agent fees |  |
| Class A | 74712 |
| Class C | 4435 |
| Institutional Class | 184483 |
| Institutional 2 Class | 3670 |
| Institutional 3 Class | 1396 |
| Custodian fees | 3289 |
| Printing and postage fees | 18306 |
| Registration fees | 47474 |
| Accounting services fees | 16256 |
| Legal fees | 12185 |
| Compensation of chief compliance officer | 41 |
| Compensation of board members | 8267 |
| Deferred compensation of board members | 18999 |
| Other | 8339 |
| Total expenses | 1692740 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (396689)<br>|
| Expense reduction | (20)<br>|
| Total net expenses | 1296031 |
| **Net investment income** | 10141249 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 3978715 |
| Investments — affiliated issuers | 1124 |
| Futures contracts | (789836)<br>|
| Net realized gain | 3190003 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 459230 |
| Investments — affiliated issuers | (2252)<br>|
| Futures contracts | 817927 |
| Net change in unrealized appreciation (depreciation) | 1274905 |
| Net realized and unrealized gain | 4464908 |
| **Net increase in net assets resulting from operations** | **$14606157** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $10141249 | &nbsp;&nbsp; $20625422 |
| Net realized gain | 3190003 | &nbsp;&nbsp; 1494502 |
| Net change in unrealized appreciation (depreciation) | 1274905 | &nbsp;&nbsp; 5439559 |
| Net increase in net assets resulting from operations | 14606157 | &nbsp;&nbsp; 27559483 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (2474932)<br>| &nbsp;&nbsp; (5209299)<br>|
| Advisor Class |  | &nbsp;&nbsp; (784744)<br>|
| Class C | (118123)<br>| &nbsp;&nbsp; (260064)<br>|
| Institutional Class | (6509430)<br>| &nbsp;&nbsp; (11623159)<br>|
| Institutional 2 Class | (271437)<br>| &nbsp;&nbsp; (521625)<br>|
| Institutional 3 Class | (887094)<br>| &nbsp;&nbsp; (2246468)<br>|
| Total distributions to shareholders | (10261016)<br>| &nbsp;&nbsp; (20645359)<br>|
| Decrease in net assets from capital stock activity | (13100800)<br>| &nbsp;&nbsp; (51136085)<br>|
| Total decrease in net assets | (8755659)<br>| &nbsp;&nbsp; (44221961)<br>|
| Net assets at beginning of period | 504704388 | &nbsp;&nbsp; 548926349 |
| **Net assets at end of period** | **$495948729** | &nbsp;&nbsp; **$504704388** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Statement of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 603945 | &nbsp;&nbsp;&nbsp;&nbsp; 6047174 | &nbsp;&nbsp;&nbsp;&nbsp; 1359144 | &nbsp;&nbsp;&nbsp;&nbsp; 13405414 |
| Distributions reinvested | 229122 | &nbsp;&nbsp;&nbsp;&nbsp; 2293838 | &nbsp;&nbsp;&nbsp;&nbsp; 490251 | &nbsp;&nbsp;&nbsp;&nbsp; 4845346 |
| Shares redeemed | (1326705)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13280774)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3683679)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (36368724)<br>|
| Net decrease | (493638)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4939762)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1834284)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (18117964)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 438413 | &nbsp;&nbsp;&nbsp;&nbsp; 4328558 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 67231 | &nbsp;&nbsp;&nbsp;&nbsp; 664648 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7465884)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (73290194)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6960240)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (68296988)<br>|
| Class C |  |  |  |  |
| Shares sold | 27969 | &nbsp;&nbsp;&nbsp;&nbsp; 280338 | &nbsp;&nbsp;&nbsp;&nbsp; 188905 | &nbsp;&nbsp;&nbsp;&nbsp; 1867823 |
| Distributions reinvested | 9673 | &nbsp;&nbsp;&nbsp;&nbsp; 96819 | &nbsp;&nbsp;&nbsp;&nbsp; 21553 | &nbsp;&nbsp;&nbsp;&nbsp; 213011 |
| Shares redeemed | (161812)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1620485)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (321552)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3174490)<br>|
| Net decrease | (124170)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1243328)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (111094)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1093656)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 4418086 | &nbsp;&nbsp;&nbsp;&nbsp; 44253413 | &nbsp;&nbsp;&nbsp;&nbsp; 14192468 | &nbsp;&nbsp;&nbsp;&nbsp; 139757210 |
| Distributions reinvested | 552636 | &nbsp;&nbsp;&nbsp;&nbsp; 5536454 | &nbsp;&nbsp;&nbsp;&nbsp; 1014778 | &nbsp;&nbsp;&nbsp;&nbsp; 10037831 |
| Shares redeemed | (4809721)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (48178478)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9629971)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (95169270)<br>|
| Net increase | 161001 | &nbsp;&nbsp;&nbsp;&nbsp; 1611389 | &nbsp;&nbsp;&nbsp;&nbsp; 5577275 | &nbsp;&nbsp;&nbsp;&nbsp; 54625771 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 47950 | &nbsp;&nbsp;&nbsp;&nbsp; 480269 | &nbsp;&nbsp;&nbsp;&nbsp; 392752 | &nbsp;&nbsp;&nbsp;&nbsp; 3883658 |
| Distributions reinvested | 27086 | &nbsp;&nbsp;&nbsp;&nbsp; 271437 | &nbsp;&nbsp;&nbsp;&nbsp; 52713 | &nbsp;&nbsp;&nbsp;&nbsp; 521537 |
| Shares redeemed | (196216)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1966793)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (474973)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4685331)<br>|
| Net decrease | (121180)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1215087)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (29508)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (280136)<br>|
| Institutional 3 Class |  |  |  |  |
| Shares sold | 711522 | &nbsp;&nbsp;&nbsp;&nbsp; 7117200 | &nbsp;&nbsp;&nbsp;&nbsp; 1743329 | &nbsp;&nbsp;&nbsp;&nbsp; 17141168 |
| Distributions reinvested | 84832 | &nbsp;&nbsp;&nbsp;&nbsp; 849819 | &nbsp;&nbsp;&nbsp;&nbsp; 219108 | &nbsp;&nbsp;&nbsp;&nbsp; 2166923 |
| Shares redeemed | (1524300)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (15281031)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3779654)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (37281203)<br>|
| Net decrease | (727946)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7314012)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1817217)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (17973112)<br>|
| **Total net decrease** | **(1305933)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(13100800)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(5175068)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(51136085)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.93 | 0.19 | 0.09 | 0.28 | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.19)<br>|
| Year Ended 7/31/2025 | $9.80 | 0.37 | 0.13 | 0.50 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| Year Ended 7/31/2024 | $9.51 | 0.33 | 0.29 | 0.62 | &nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.33)<br>|
| Year Ended 7/31/2023 | $9.64 | 0.23 | &nbsp;&nbsp; (0.11)<br>| 0.12 | &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.25)<br>|
| Year Ended 7/31/2022 | $10.43 | 0.10 | &nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.17)<br>|
| Year Ended 7/31/2021 | $10.38 | 0.09 | 0.06 | 0.15 | &nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.10)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.93 | 0.15 | 0.10 | 0.25 | &nbsp;&nbsp; (0.16)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.16)<br>|
| Year Ended 7/31/2025 | $9.80 | 0.29 | 0.14 | 0.43 | &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.30)<br>|
| Year Ended 7/31/2024 | $9.51 | 0.26 | 0.29 | 0.55 | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.26)<br>|
| Year Ended 7/31/2023 | $9.64 | 0.16 | &nbsp;&nbsp; (0.11)<br>| 0.05 | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.18)<br>|
| Year Ended 7/31/2022 | $10.43 | 0.02 | &nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp; (0.70)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.09)<br>|
| Year Ended 7/31/2021 | $10.38 | 0.02 | 0.05 | 0.07 | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.02)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.94 | 0.20 | 0.09 | 0.29 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.21)<br>|
| Year Ended 7/31/2025 | $9.81 | 0.40 | 0.12 | 0.52 | &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.39)<br>|
| Year Ended 7/31/2024 | $9.52 | 0.35 | 0.30 | 0.65 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.36)<br>|
| Year Ended 7/31/2023 | $9.65 | 0.26 | &nbsp;&nbsp; (0.12)<br>| 0.14 | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.27)<br>|
| Year Ended 7/31/2022 | $10.44 | 0.12 | &nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp; (0.60)<br>| &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.19)<br>|
| Year Ended 7/31/2021 | $10.39 | 0.12 | 0.05 | 0.17 | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.12)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.94 | 0.21 | 0.09 | 0.30 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.21)<br>|
| Year Ended 7/31/2025 | $9.81 | 0.40 | 0.13 | 0.53 | &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.40)<br>|
| Year Ended 7/31/2024 | $9.52 | 0.36 | 0.29 | 0.65 | &nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.36)<br>|
| Year Ended 7/31/2023 | $9.65 | 0.26 | &nbsp;&nbsp; (0.11)<br>| 0.15 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.28)<br>|
| Year Ended 7/31/2022 | $10.44 | 0.13 | &nbsp;&nbsp; (0.72)<br>| &nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.20)<br>|
| Year Ended 7/31/2021 | $10.39 | 0.12 | 0.06 | 0.18 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.13)<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $10.02 | &nbsp;&nbsp;&nbsp;&nbsp; 2.87% | &nbsp;&nbsp;&nbsp;&nbsp; 0.85% | &nbsp;&nbsp;&nbsp;&nbsp; 0.69% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.81% | &nbsp;&nbsp;&nbsp;&nbsp; 54% | &nbsp;&nbsp;&nbsp;&nbsp; $125678 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.93 | &nbsp;&nbsp;&nbsp;&nbsp; 5.18% | &nbsp;&nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp;&nbsp; 0.70% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.73% | &nbsp;&nbsp;&nbsp;&nbsp; 107% | &nbsp;&nbsp;&nbsp;&nbsp; $129510 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.80 | &nbsp;&nbsp;&nbsp;&nbsp; 6.68% | &nbsp;&nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.42% | &nbsp;&nbsp;&nbsp;&nbsp; 96% | &nbsp;&nbsp;&nbsp;&nbsp; $145829 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.51 | &nbsp;&nbsp;&nbsp;&nbsp; 1.26% | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.46% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $164626 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.64 | &nbsp;&nbsp;&nbsp;&nbsp; (6.02%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.76% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $195763 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $10.43 | &nbsp;&nbsp;&nbsp;&nbsp; 1.43% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% | &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp;&nbsp; 98% | &nbsp;&nbsp;&nbsp;&nbsp; $233349 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $10.02 | &nbsp;&nbsp;&nbsp;&nbsp; 2.48% | &nbsp;&nbsp;&nbsp;&nbsp; 1.60% | &nbsp;&nbsp;&nbsp;&nbsp; 1.44% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.06% | &nbsp;&nbsp;&nbsp;&nbsp; 54% | &nbsp;&nbsp;&nbsp;&nbsp; $6845 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.93 | &nbsp;&nbsp;&nbsp;&nbsp; 4.40% | &nbsp;&nbsp;&nbsp;&nbsp; 1.59% | &nbsp;&nbsp;&nbsp;&nbsp; 1.45% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.98% | &nbsp;&nbsp;&nbsp;&nbsp; 107% | &nbsp;&nbsp;&nbsp;&nbsp; $8020 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.80 | &nbsp;&nbsp;&nbsp;&nbsp; 5.88% | &nbsp;&nbsp;&nbsp;&nbsp; 1.59% | &nbsp;&nbsp;&nbsp;&nbsp; 1.46% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.69% | &nbsp;&nbsp;&nbsp;&nbsp; 96% | &nbsp;&nbsp;&nbsp;&nbsp; $9006 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.51 | &nbsp;&nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp;&nbsp; 1.58% | &nbsp;&nbsp;&nbsp;&nbsp; 1.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.70% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $7504 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.64 | &nbsp;&nbsp;&nbsp;&nbsp; (6.73%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.56% | &nbsp;&nbsp;&nbsp;&nbsp; 1.51% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $10658 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $10.43 | &nbsp;&nbsp;&nbsp;&nbsp; 0.68% | &nbsp;&nbsp;&nbsp;&nbsp; 1.57% | &nbsp;&nbsp;&nbsp;&nbsp; 1.52% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16% | &nbsp;&nbsp;&nbsp;&nbsp; 98% | &nbsp;&nbsp;&nbsp;&nbsp; $23715 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $10.02 | &nbsp;&nbsp;&nbsp;&nbsp; 2.90% | &nbsp;&nbsp;&nbsp;&nbsp; 0.60% | &nbsp;&nbsp;&nbsp;&nbsp; 0.44% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.06% | &nbsp;&nbsp;&nbsp;&nbsp; 54% | &nbsp;&nbsp;&nbsp;&nbsp; $311668 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.94 | &nbsp;&nbsp;&nbsp;&nbsp; 5.44% | &nbsp;&nbsp;&nbsp;&nbsp; 0.60% | &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.01% | &nbsp;&nbsp;&nbsp;&nbsp; 107% | &nbsp;&nbsp;&nbsp;&nbsp; $307414 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.81 | &nbsp;&nbsp;&nbsp;&nbsp; 6.94% | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp;&nbsp; 0.46% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.67% | &nbsp;&nbsp;&nbsp;&nbsp; 96% | &nbsp;&nbsp;&nbsp;&nbsp; $248715 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.52 | &nbsp;&nbsp;&nbsp;&nbsp; 1.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.58% | &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.71% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $270446 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.65 | &nbsp;&nbsp;&nbsp;&nbsp; (5.78%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.24% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $307759 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $10.44 | &nbsp;&nbsp;&nbsp;&nbsp; 1.68% | &nbsp;&nbsp;&nbsp;&nbsp; 0.57% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.13% | &nbsp;&nbsp;&nbsp;&nbsp; 98% | &nbsp;&nbsp;&nbsp;&nbsp; $503810 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $10.03 | &nbsp;&nbsp;&nbsp;&nbsp; 3.03% | &nbsp;&nbsp;&nbsp;&nbsp; 0.54% | &nbsp;&nbsp;&nbsp;&nbsp; 0.39% | &nbsp;&nbsp;&nbsp;&nbsp; 4.12% | &nbsp;&nbsp;&nbsp;&nbsp; 54% | &nbsp;&nbsp;&nbsp;&nbsp; $12605 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.94 | &nbsp;&nbsp;&nbsp;&nbsp; 5.49% | &nbsp;&nbsp;&nbsp;&nbsp; 0.54% | &nbsp;&nbsp;&nbsp;&nbsp; 0.40% | &nbsp;&nbsp;&nbsp;&nbsp; 4.04% | &nbsp;&nbsp;&nbsp;&nbsp; 107% | &nbsp;&nbsp;&nbsp;&nbsp; $13702 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.81 | &nbsp;&nbsp;&nbsp;&nbsp; 6.99% | &nbsp;&nbsp;&nbsp;&nbsp; 0.54% | &nbsp;&nbsp;&nbsp;&nbsp; 0.41% | &nbsp;&nbsp;&nbsp;&nbsp; 3.72% | &nbsp;&nbsp;&nbsp;&nbsp; 96% | &nbsp;&nbsp;&nbsp;&nbsp; $13816 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.52 | &nbsp;&nbsp;&nbsp;&nbsp; 1.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% | &nbsp;&nbsp;&nbsp;&nbsp; 0.45% | &nbsp;&nbsp;&nbsp;&nbsp; 2.77% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $15538 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.65 | &nbsp;&nbsp;&nbsp;&nbsp; (5.73%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% | &nbsp;&nbsp;&nbsp;&nbsp; 0.46% | &nbsp;&nbsp;&nbsp;&nbsp; 1.29% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $17257 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $10.44 | &nbsp;&nbsp;&nbsp;&nbsp; 1.73% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 1.18% | &nbsp;&nbsp;&nbsp;&nbsp; 98% | &nbsp;&nbsp;&nbsp;&nbsp; $92315 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $9.94 | 0.21 | 0.08 | 0.29 | &nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.21)<br>|
| Year Ended 7/31/2025 | $9.81 | 0.40 | 0.13 | 0.53 | &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.40)<br>|
| Year Ended 7/31/2024 | $9.52 | 0.36 | 0.30 | 0.66 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| Year Ended 7/31/2023 | $9.65 | 0.26 | &nbsp;&nbsp; (0.11)<br>| 0.15 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.28)<br>|
| Year Ended 7/31/2022 | $10.44 | 0.14 | &nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp; (0.20)<br>|
| Year Ended 7/31/2021 | $10.39 | 0.13 | 0.05 | 0.18 | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.13)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | The benefits derived from expense reductions had an impact of less than 0.01%. |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $10.02 | &nbsp;&nbsp;&nbsp;&nbsp; 2.95% | &nbsp;&nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp; 0.34% | &nbsp;&nbsp;&nbsp;&nbsp; 4.16% | &nbsp;&nbsp;&nbsp;&nbsp; 54% | &nbsp;&nbsp;&nbsp;&nbsp; $39153 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.94 | &nbsp;&nbsp;&nbsp;&nbsp; 5.55% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 0.35% | &nbsp;&nbsp;&nbsp;&nbsp; 4.07% | &nbsp;&nbsp;&nbsp;&nbsp; 107% | &nbsp;&nbsp;&nbsp;&nbsp; $46059 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.81 | &nbsp;&nbsp;&nbsp;&nbsp; 7.05% | &nbsp;&nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp; 0.36% | &nbsp;&nbsp;&nbsp;&nbsp; 3.78% | &nbsp;&nbsp;&nbsp;&nbsp; 96% | &nbsp;&nbsp;&nbsp;&nbsp; $63299 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $9.52 | &nbsp;&nbsp;&nbsp;&nbsp; 1.61% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% | &nbsp;&nbsp;&nbsp;&nbsp; 0.40% | &nbsp;&nbsp;&nbsp;&nbsp; 2.73% | &nbsp;&nbsp;&nbsp;&nbsp; 61% | &nbsp;&nbsp;&nbsp;&nbsp; $56815 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.65 | &nbsp;&nbsp;&nbsp;&nbsp; (5.69%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46% | &nbsp;&nbsp;&nbsp;&nbsp; 0.42% | &nbsp;&nbsp;&nbsp;&nbsp; 1.35% | &nbsp;&nbsp;&nbsp;&nbsp; 79% | &nbsp;&nbsp;&nbsp;&nbsp; $124365 |
| Year Ended 7/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp; $10.44 | &nbsp;&nbsp;&nbsp;&nbsp; 1.78% | &nbsp;&nbsp;&nbsp;&nbsp; 0.47% | &nbsp;&nbsp;&nbsp;&nbsp; 0.43% | &nbsp;&nbsp;&nbsp;&nbsp; 1.25% | &nbsp;&nbsp;&nbsp;&nbsp; 98% | &nbsp;&nbsp;&nbsp;&nbsp; $175861 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Select Short Corporate Income Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Select Short Corporate Income Fund (the Fund), a series of Columbia Funds Series Trust II (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 and Institutional 3 Class shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Debt securities generally are valued based on prices obtained from pricing services, which are intended to reflect market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques that take into account, as applicable, factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as approved independent broker-dealer quotes. Debt securities for which quotations are not readily available or not believed to be reflective of market value may also be valued based upon a bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.

Columbia Select Short Corporate Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Futures and options on futures contracts are valued based upon the settlement price at the close of regular trading on their principal exchanges or, in the absence of a settlement price, at the mean of the latest quoted bid and ask prices.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**Derivative instruments**

The Fund invests in certain derivative instruments, as detailed below, in seeking to meet its investment objectives. Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more securities, currencies, commodities, indices, or other assets or instruments. Derivatives may be used to increase investment flexibility (including to maintain cash reserves while maintaining desired exposure to certain assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. The Fund may also use derivative instruments to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. Derivatives may involve various risks, including the potential inability of the counterparty to fulfill its obligations under the terms of the contract, the potential for an illiquid secondary market (making it difficult for the Fund to sell or terminate, including at favorable prices) and the potential for market movements which may expose the Fund to gains or losses in excess of the amount shown in the Statement of Assets and Liabilities. The notional exposure of a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument and/or changes in value for the instrument. The notional exposure is a hypothetical underlying quantity upon which payment obligations are computed. Notional exposures provide a gauge for how the Fund may behave given changes in the underlying rate, asset or reference instrument and individual markets. The notional amounts of derivative instruments, if applicable, are not recorded in the financial statements.

A derivative instrument may suffer a marked-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform its obligations under the contract. The Fund's risk of loss from counterparty credit risk on over-the-counter derivatives is generally expected to be limited to the aggregate unrealized gain netted against any collateral held by the Fund and the amount of any variation margin held by the counterparty, plus any replacement costs or related amounts. With exchange-traded or centrally cleared derivatives, there is reduced counterparty credit risk to the Fund since the clearinghouse or central counterparty provides some protection in the case of clearing member default. The clearinghouse stands between the buyer and the seller of the contract; therefore, the primary counterparty credit risk is the risk of failure of the clearinghouse. However, credit risk still exists in exchange-traded and centrally cleared derivatives with respect to any collateral that is held in a broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients and such shortfall is remedied by the central counterparty or otherwise, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the clearing broker's customers (including the Fund) by account class, potentially resulting in losses to the Fund.

In connection with certain over-the-counter derivatives, the Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (ISDA Master Agreement) or similar agreement with its derivatives counterparties. An ISDA Master Agreement is an agreement between the Fund and a counterparty that governs over-the-counter derivatives

Columbia Select Short Corporate Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

and foreign exchange forward contracts and contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting), including the bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset or netting in bankruptcy, insolvency or other events.

Collateral (margin) requirements differ by type of derivative. Margin requirements are established by the clearinghouse or central counterparty for exchange-traded and centrally cleared derivatives. Brokers can ask for margin in excess of the minimum in certain circumstances. Collateral terms for most over-the-counter derivatives are subject to regulatory requirements to exchange variation margin with trading counterparties and may have contract specific margin terms as well. For over-the-counter derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the marked-to-market amount for each transaction under such agreement and comparing that amount to the value of any variation margin currently pledged by the Fund and/or the counterparty. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold (e.g., $250,000) before a transfer has to be made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance. The Fund may also pay interest expense on cash collateral received from the broker or receive interest income on cash collateral pledged to the broker. The Fund attempts to mitigate counterparty risk by only entering into agreements with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

Certain ISDA Master Agreements allow counterparties of over-the-counter derivatives transactions to terminate derivatives contracts prior to maturity in the event the Fund's net asset value declines by a stated percentage over a specified time period or if the Fund fails to meet certain terms of the ISDA Master Agreement, which would cause the Fund to accelerate payment of any net liability owed to the counterparty. The Fund also has termination rights if the counterparty fails to meet certain terms of the ISDA Master Agreement. In determining whether to exercise such termination rights, the Fund would consider, in addition to counterparty credit risk, whether termination would result in a net liability owed from the counterparty.

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities.

**Futures contracts**

Futures contracts are exchange-traded and represent commitments for the future purchase or sale of an asset at a specified price on a specified date. The Fund bought and sold futures contracts to manage its exposure to the securities markets or to movements in interest rates and currency values. A Fund invests in futures contracts as part of its primary investment strategy and/or to equitize its cash flows. Investments in futures contracts may increase or decrease exposure to a particular market. These instruments may be used for other purposes in future periods. Upon entering into futures contracts, the Fund bears risks that it may not achieve the anticipated benefits of the futures contracts and may realize a loss. Additional risks include counterparty credit risk, the possibility of an illiquid market, and that a change in the value of the contract or option may not correlate with changes in the value of the underlying asset.

Upon entering into a futures contract, the Fund deposits cash or securities with the broker, known as a futures commission merchant (FCM), in an amount sufficient to meet the initial margin requirement. The initial margin deposit must be maintained at an established level over the life of the contract. Cash deposited as initial margin is recorded in the Statement of Assets and Liabilities as margin deposits. Securities deposited as initial margin are designated in the Portfolio of Investments. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily change in the contract value and are recorded as variation margin receivable or payable and are offset in unrealized gains or losses. The Fund generally expects to earn interest income on its margin deposits. The Fund recognizes a realized gain or loss when the contract is closed or expires. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed in the Statement of Assets and Liabilities.

Columbia Select Short Corporate Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Effects of derivative transactions in the financial statements**

The following tables are intended to provide additional information about the effect of derivatives on the financial statements of the Fund, including: the fair value of derivatives by risk category and the location of those fair values in the Statement of Assets and Liabilities; and the impact of derivative transactions over the period in the Statement of Operations, including realized and unrealized gains (losses). The derivative instrument schedules following the Portfolio of Investments present additional information regarding derivative instruments outstanding at the end of the period, if any.

The following table is a summary of the fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) at January 31, 2026:

---

| | | |
|:---|:---|:---|
|  | **Asset derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 458,314<br> \*<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Liability derivatives** |  |
| **Risk exposure** <br>**category**<br>| &nbsp;&nbsp; **Statement** <br>**of assets and liabilities** <br>**location**<br>| **Fair value ($)** |
| Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 198,858<br> \*<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day's variation margin for futures and centrally cleared swaps, if any, is reported in receivables or payables in the Statement of Assets and Liabilities.

The following table indicates the effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in the Statement of Operations for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Amount of realized gain (loss) on derivatives recognized in income** | **Amount of realized gain (loss) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Interest rate risk | &nbsp;&nbsp; (789836)<br>|
| **Change in unrealized appreciation (depreciation) on derivatives recognized in income** | **Change in unrealized appreciation (depreciation) on derivatives recognized in income** |
| **Risk exposure category** | **Futures** <br>**contracts** <br>**($)**<br>|
| Interest rate risk | &nbsp;&nbsp; 817927 |

---

The following table is a summary of the average daily outstanding volume by derivative instrument for the six months ended January 31, 2026:

---

| | |
|:---|:---|
| **Derivative instrument** | **Average notional** <br>**amounts ($)**<br>|
| Futures contracts — long | 180292563 |
| Futures contracts — short | 113425438 |

---

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted.

Columbia Select Short Corporate Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The Fund may place a debt security on non-accrual status and reduce related interest income when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. The Fund may also adjust accrual rates when it becomes probable the full interest will not be collected and a partial payment will be received. A defaulted debt security is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Dividend income is recorded on the ex-dividend date.

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.43% to 0.28% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.43% 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

Columbia Select Short Corporate Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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).

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.12 |
| Class C | 0.12 |
| Institutional Class | 0.12 |
| Institutional 2 Class | 0.06 |
| Institutional 3 Class | 0.01 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, these minimum account balance fees reduced total expenses of the Fund by $20.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and

Columbia Select Short Corporate Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $402,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.

**Sales charges** 

Sales charges, including front-end charges and CDSCs, received by the Distributor for distributing Fund shares for the six months ended January 31, 2026, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 1.00<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.50 - 1.00 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 23996 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) For purchases made on or after August 1, 2024, this charge is imposed on certain investments of $500,000 or more redeemed within 12 months after purchase, with certain limited exceptions. For purchases made prior to August 1, 2024, this charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.

The Fund's other share classes are not subject to sales charges.

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.40 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Columbia Select Short Corporate Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>**appreciation ($)**<br>|
| 485884000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5226000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (712000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4514000 |

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

The following capital loss carryforwards, determined at July 31, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code.

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
| (12211599)<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; (39721693)<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; (51933292)<br>|

---

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $255,491,532 and $275,445,243, respectively, for the six months ended January 31, 2026, of which $12,649,895 and $0, 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.

Columbia Select Short Corporate Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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 six months ended January 31, 2026 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 | 1180000 | &nbsp;&nbsp;&nbsp;&nbsp;4.82 | &nbsp;&nbsp;&nbsp;&nbsp; 5 |

---

Interest income earned by the Fund is recorded as Interfund lending in the Statement of Operations. The Fund had no outstanding interfund loans at January 31, 2026.

Note 8. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 9. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

Columbia Select Short Corporate Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 37.1% 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 Select Short Corporate Income Fund \| 2026

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[THIS PAGE INTENTIONALLY LEFT BLANK]

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[THIS PAGE INTENTIONALLY LEFT BLANK]

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**Columbia Select Short Corporate Income Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035imgdac34eb02.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR183_07_T01_(03/26)

------

![](g80035img45eb3ee51.jpg)

Columbia Short-Term Cash Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_2f51d87a-acdc-4aa4-bf9d-8f11d85d74c6_POI-CommonContent-Date-131_1) | 3 |
| [Statement of Assets and Liabilities](#xx_2f51d87a-acdc-4aa4-bf9d-8f11d85d74c6_FS-CommonContent-Date-131_1) | 8 |
| [Statement of Operations](#xx_2f51d87a-acdc-4aa4-bf9d-8f11d85d74c6_FS-CommonContent-Date-131_2) | 9 |
| [Statement of Changes in Net Assets](#xx_2f51d87a-acdc-4aa4-bf9d-8f11d85d74c6_FS-CommonContent-Date-131_3) | 10 |
| [Financial Highlights](#xx_2f51d87a-acdc-4aa4-bf9d-8f11d85d74c6_FIHI-CommonContent-Date-131_1) | 11 |
| [Notes to Financial Statements](#xx_2f51d87a-acdc-4aa4-bf9d-8f11d85d74c6_NTF-CommonContent-Date-131_1) | 12 |

---

Columbia Short-Term Cash Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Asset-Backed Commercial Paper 3.8%** | **Asset-Backed Commercial Paper 3.8%** | **Asset-Backed Commercial Paper 3.8%** | **Asset-Backed Commercial Paper 3.8%** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| MetLife Short Term Funding LLC<sup>(a)</sup>  | MetLife Short Term Funding LLC<sup>(a)</sup>  | MetLife Short Term Funding LLC<sup>(a)</sup>  | MetLife Short Term Funding LLC<sup>(a)</sup>  |
| 02/05/2026 | &nbsp;&nbsp; 3.820% | 37950000 | &nbsp;&nbsp; 37926168 |
| 02/13/2026 | &nbsp;&nbsp; 3.820% | 55000000 | &nbsp;&nbsp; 54919480 |
| 02/26/2026 | &nbsp;&nbsp; 3.830% | 75000000 | &nbsp;&nbsp; 74788350 |
| 03/04/2026 | &nbsp;&nbsp; 3.830% | 58214000 | &nbsp;&nbsp; 58013220 |
| 03/09/2026 | &nbsp;&nbsp; 3.830% | 67000000 | &nbsp;&nbsp; 66734010 |
| 03/18/2026 | &nbsp;&nbsp; 3.830% | 10030000 | &nbsp;&nbsp; 9980763 |
| 04/20/2026 | &nbsp;&nbsp; 3.770% | 35740000 | &nbsp;&nbsp; 35447460 |
| 04/28/2026 | &nbsp;&nbsp; 3.840% | 100000000 | &nbsp;&nbsp; 99082500 |
| MetLife Short Term Funding LLC | MetLife Short Term Funding LLC | MetLife Short Term Funding LLC | MetLife Short Term Funding LLC |
| 05/01/2026 | &nbsp;&nbsp; 3.840% | 8133000 | &nbsp;&nbsp; 8055850 |
| New York Life Short Term Funding LLC<sup>(a)</sup>  | New York Life Short Term Funding LLC<sup>(a)</sup>  | New York Life Short Term Funding LLC<sup>(a)</sup>  | New York Life Short Term Funding LLC<sup>(a)</sup>  |
| 02/11/2026 | &nbsp;&nbsp; 3.830% | 50000000 | &nbsp;&nbsp; 49937100 |
| 04/08/2026 | &nbsp;&nbsp; 3.900% | 35000000 | &nbsp;&nbsp; 34747755 |
| 04/14/2026 | &nbsp;&nbsp; 3.900% | 25000000 | &nbsp;&nbsp; 24803925 |
| 04/22/2026 | &nbsp;&nbsp; 3.900% | 25650000 | &nbsp;&nbsp; 25427255 |
| Total Asset-Backed Commercial Paper <br>(Cost $579,952,616) | Total Asset-Backed Commercial Paper <br>(Cost $579,952,616) | Total Asset-Backed Commercial Paper <br>(Cost $579,952,616) | &nbsp;&nbsp; **579863836** |
| **Asset-Backed Securities - Non-Agency 1.9%** | **Asset-Backed Securities - Non-Agency 1.9%** | **Asset-Backed Securities - Non-Agency 1.9%** | **Asset-Backed Securities - Non-Agency 1.9%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| ARI Fleet Lease Trust<sup>(a)</sup>  | ARI Fleet Lease Trust<sup>(a)</sup>  | ARI Fleet Lease Trust<sup>(a)</sup>  | ARI Fleet Lease Trust<sup>(a)</sup>  |
| Series 2025-B Class A1 | Series 2025-B Class A1 | Series 2025-B Class A1 | Series 2025-B Class A1 |
| 05/15/2026 | &nbsp;&nbsp; 4.559% | 2978655 | &nbsp;&nbsp; 2980724 |
| CarMax Auto Owner Trust | CarMax Auto Owner Trust | CarMax Auto Owner Trust | CarMax Auto Owner Trust |
| Series 2026-1 Class A1 | Series 2026-1 Class A1 | Series 2026-1 Class A1 | Series 2026-1 Class A1 |
| 02/16/2027 | &nbsp;&nbsp; 4.042% | 80000000 | &nbsp;&nbsp; 80032208 |
| Enterprise Fleet Financing<sup>(a)</sup>  | Enterprise Fleet Financing<sup>(a)</sup>  | Enterprise Fleet Financing<sup>(a)</sup>  | Enterprise Fleet Financing<sup>(a)</sup>  |
| Series 2025-2 Class A1 | Series 2025-2 Class A1 | Series 2025-2 Class A1 | Series 2025-2 Class A1 |
| 05/20/2026 | &nbsp;&nbsp; 4.555% | 3876057 | &nbsp;&nbsp; 3877153 |
| Series 2025-3 Class A1 | Series 2025-3 Class A1 | Series 2025-3 Class A1 | Series 2025-3 Class A1 |
| 07/20/2026 | &nbsp;&nbsp; 4.551% | 13160885 | &nbsp;&nbsp; 13168997 |
| Enterprise Fleet Financing LLC<sup>(a)</sup>  | Enterprise Fleet Financing LLC<sup>(a)</sup>  | Enterprise Fleet Financing LLC<sup>(a)</sup>  | Enterprise Fleet Financing LLC<sup>(a)</sup>  |
| Series 2025-4 Class A1 | Series 2025-4 Class A1 | Series 2025-4 Class A1 | Series 2025-4 Class A1 |
| 10/20/2026 | &nbsp;&nbsp; 4.103% | 93863410 | &nbsp;&nbsp; 93912942 |
| Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust |
| Series 2025-B Class A1 | Series 2025-B Class A1 | Series 2025-B Class A1 | Series 2025-B Class A1 |
| 10/15/2026 | &nbsp;&nbsp; 4.057% | 50782848 | &nbsp;&nbsp; 50787149 |
| M&T Equipment<sup>(a)</sup>  | M&T Equipment<sup>(a)</sup>  | M&T Equipment<sup>(a)</sup>  | M&T Equipment<sup>(a)</sup>  |
| Series 2025-1A Class A1 | Series 2025-1A Class A1 | Series 2025-1A Class A1 | Series 2025-1A Class A1 |
| 05/18/2026 | &nbsp;&nbsp; 4.642% | 954400 | &nbsp;&nbsp; 954679 |
| NMEF Funding LLC<sup>(a)</sup>  | NMEF Funding LLC<sup>(a)</sup>  | NMEF Funding LLC<sup>(a)</sup>  | NMEF Funding LLC<sup>(a)</sup>  |
| Series 2025-B Class A1 | Series 2025-B Class A1 | Series 2025-B Class A1 | Series 2025-B Class A1 |
| 07/15/2026 | &nbsp;&nbsp; 4.506% | 1693044 | &nbsp;&nbsp; 1693857 |
| PEAC Solutions Receivables LLC<sup>(a)</sup>  | PEAC Solutions Receivables LLC<sup>(a)</sup>  | PEAC Solutions Receivables LLC<sup>(a)</sup>  | PEAC Solutions Receivables LLC<sup>(a)</sup>  |
| Series 2026-1A Class A1 | Series 2026-1A Class A1 | Series 2026-1A Class A1 | Series 2026-1A Class A1 |
| 01/20/2027 | &nbsp;&nbsp; 4.191% | 27000000 | &nbsp;&nbsp; 27002379 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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 ($)**<br>| **Value ($)** |
| World Omni Auto Receivables Trust | World Omni Auto Receivables Trust | World Omni Auto Receivables Trust | World Omni Auto Receivables Trust |
| 08/17/2026 | &nbsp;&nbsp; 4.359% | 12082349 | &nbsp;&nbsp; 12087895 |
| Total Asset-Backed Securities — Non-Agency <br>(Cost $286,391,649) | Total Asset-Backed Securities — Non-Agency <br>(Cost $286,391,649) | Total Asset-Backed Securities — Non-Agency <br>(Cost $286,391,649) | &nbsp;&nbsp; **286497983** |
| **Certificates of Deposit 4.3%** | **Certificates of Deposit 4.3%** | **Certificates of Deposit 4.3%** | **Certificates of Deposit 4.3%** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Australia and New Zealand Banking Group Ltd. | Australia and New Zealand Banking Group Ltd. | Australia and New Zealand Banking Group Ltd. | Australia and New Zealand Banking Group Ltd. |
| 02/02/2026 | &nbsp;&nbsp; 3.620% | 230000000 | &nbsp;&nbsp; 230000575 |
| 02/03/2026 | &nbsp;&nbsp; 3.620% | 200000000 | &nbsp;&nbsp; 200000864 |
| Cooperatieve Rabobank UA | Cooperatieve Rabobank UA | Cooperatieve Rabobank UA | Cooperatieve Rabobank UA |
| 02/02/2026 | &nbsp;&nbsp; 3.620% | 130000000 | &nbsp;&nbsp; 130000108 |
| Nordea Bank Abp | Nordea Bank Abp | Nordea Bank Abp | Nordea Bank Abp |
| 02/12/2026 | &nbsp;&nbsp; 3.670% | 100000000 | &nbsp;&nbsp; 100008800 |
| Total Certificates of Deposit <br>(Cost $660,000,000) | Total Certificates of Deposit <br>(Cost $660,000,000) | Total Certificates of Deposit <br>(Cost $660,000,000) | &nbsp;&nbsp; **660010347** |
| **Commercial Paper 33.5%** | **Commercial Paper 33.5%** | **Commercial Paper 33.5%** | **Commercial Paper 33.5%** |
| **Banking 11.0%** | **Banking 11.0%** | **Banking 11.0%** | **Banking 11.0%** |
| Canadian Imperial Bank of Commerce<sup>(a)</sup>  | Canadian Imperial Bank of Commerce<sup>(a)</sup>  | Canadian Imperial Bank of Commerce<sup>(a)</sup>  | Canadian Imperial Bank of Commerce<sup>(a)</sup>  |
| 02/02/2026 | &nbsp;&nbsp; 3.750% | 190600000 | &nbsp;&nbsp; 190541345 |
| Canadian Imperial Bank of Commerce | Canadian Imperial Bank of Commerce | Canadian Imperial Bank of Commerce | Canadian Imperial Bank of Commerce |
| 02/06/2026 | &nbsp;&nbsp; 3.740% | 300000000 | &nbsp;&nbsp; 299785200 |
| Credit Agricole | Credit Agricole | Credit Agricole | Credit Agricole |
| 02/02/2026 | &nbsp;&nbsp; 3.800% | 90000000 | &nbsp;&nbsp; 89971920 |
| 02/06/2026 | &nbsp;&nbsp; 3.790% | 156000000 | &nbsp;&nbsp; 155886588 |
| DNB Bank ASA | DNB Bank ASA | DNB Bank ASA | DNB Bank ASA |
| 04/13/2026 | &nbsp;&nbsp; 3.750% | 35000000 | &nbsp;&nbsp; 34739215 |
| 04/23/2026 | &nbsp;&nbsp; 3.760% | 200000000 | &nbsp;&nbsp; 198305800 |
| JPMorgan Securities LLC<sup>(a),(b)</sup>  | JPMorgan Securities LLC<sup>(a),(b)</sup>  | JPMorgan Securities LLC<sup>(a),(b)</sup>  | JPMorgan Securities LLC<sup>(a),(b)</sup>  |
| SOFR + 0.240% <br>05/12/2026<br>| &nbsp;&nbsp; 3.910% | 75000000 | &nbsp;&nbsp; 75010500 |
| SOFR + 0.240% <br>07/10/2026<br>| &nbsp;&nbsp; 3.900% | 100000000 | &nbsp;&nbsp; 100013200 |
| SOFR + 0.220% <br>07/27/2026<br>| &nbsp;&nbsp; 3.880% | 175000000 | &nbsp;&nbsp; 175008575 |
| Nordea Bank Abp | Nordea Bank Abp | Nordea Bank Abp | Nordea Bank Abp |
| 03/30/2026 | &nbsp;&nbsp; 3.750% | 160000000 | &nbsp;&nbsp; 159036640 |
| Toronto Dominion Bank (The) | Toronto Dominion Bank (The) | Toronto Dominion Bank (The) | Toronto Dominion Bank (The) |
| 03/09/2026 | &nbsp;&nbsp; 3.860% | 93400000 | &nbsp;&nbsp; 93026213 |
| 03/26/2026 | &nbsp;&nbsp; 3.870% | 129700000 | &nbsp;&nbsp; 128948000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1700273196** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** | **Chemicals 0.7%** |
| Air Liquide US LLC<sup>(a)</sup>  | Air Liquide US LLC<sup>(a)</sup>  | Air Liquide US LLC<sup>(a)</sup>  | Air Liquide US LLC<sup>(a)</sup>  |
| 03/09/2026 | &nbsp;&nbsp; 3.840% | 104550000 | &nbsp;&nbsp; 104133786 |
| **Construction Machinery 4.2%** | **Construction Machinery 4.2%** | **Construction Machinery 4.2%** | **Construction Machinery 4.2%** |
| Caterpillar Financial Services Corp. | Caterpillar Financial Services Corp. | Caterpillar Financial Services Corp. | Caterpillar Financial Services Corp. |
| 02/02/2026 | &nbsp;&nbsp; 3.760% | 22700000 | &nbsp;&nbsp; 22692986 |
| 02/04/2026 | &nbsp;&nbsp; 3.760% | 20000000 | &nbsp;&nbsp; 19989700 |
| 02/05/2026 | &nbsp;&nbsp; 3.760% | 60000000 | &nbsp;&nbsp; 59962920 |
| 02/09/2026 | &nbsp;&nbsp; 3.770% | 44800000 | &nbsp;&nbsp; 44753811 |
| 02/11/2026 | &nbsp;&nbsp; 3.770% | 120000000 | &nbsp;&nbsp; 119851560 |
| 02/19/2026 | &nbsp;&nbsp; 3.730% | 50000000 | &nbsp;&nbsp; 49897916 |
| John Deere Capital Corp.<sup>(a)</sup>  | John Deere Capital Corp.<sup>(a)</sup>  | John Deere Capital Corp.<sup>(a)</sup>  | John Deere Capital Corp.<sup>(a)</sup>  |
| 03/24/2026 | &nbsp;&nbsp; 3.720% | 90000000 | &nbsp;&nbsp; 89515980 |
| 03/26/2026 | &nbsp;&nbsp; 3.720% | 50000000 | &nbsp;&nbsp; 49720950 |
| John Deere Financial, Inc.<sup>(a)</sup>  | John Deere Financial, Inc.<sup>(a)</sup>  | John Deere Financial, Inc.<sup>(a)</sup>  | John Deere Financial, Inc.<sup>(a)</sup>  |
| 02/19/2026 | &nbsp;&nbsp; 3.730% | 25000000 | &nbsp;&nbsp; 24948950 |
| 02/24/2026 | &nbsp;&nbsp; 3.740% | 20000000 | &nbsp;&nbsp; 19948940 |
| 02/25/2026 | &nbsp;&nbsp; 3.740% | 22000000 | &nbsp;&nbsp; 21941568 |
| 03/19/2026 | &nbsp;&nbsp; 3.750% | 90000000 | &nbsp;&nbsp; 89558370 |
| 03/23/2026 | &nbsp;&nbsp; 3.750% | 20000000 | &nbsp;&nbsp; 19893680 |
| 04/21/2026 | &nbsp;&nbsp; 3.770% | 16000000 | &nbsp;&nbsp; 15867376 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **648544707** |
| **Consumer Products 0.6%** | **Consumer Products 0.6%** | **Consumer Products 0.6%** | **Consumer Products 0.6%** |
| Procter & Gamble Co. (The) | Procter & Gamble Co. (The) | Procter & Gamble Co. (The) | Procter & Gamble Co. (The) |
| 03/05/2026 | &nbsp;&nbsp; 3.740% | 100000000 | &nbsp;&nbsp; 99652800 |
| **Diversified Manufacturing 1.6%** | **Diversified Manufacturing 1.6%** | **Diversified Manufacturing 1.6%** | **Diversified Manufacturing 1.6%** |
| Honeywell International, Inc. | Honeywell International, Inc. | Honeywell International, Inc. | Honeywell International, Inc. |
| 02/12/2026 | &nbsp;&nbsp; 3.840% | 50000000 | &nbsp;&nbsp; 49931650 |
| 02/13/2026 | &nbsp;&nbsp; 3.840% | 50000000 | &nbsp;&nbsp; 49926400 |
| Honeywell International, Inc.<sup>(a)</sup>  | Honeywell International, Inc.<sup>(a)</sup>  | Honeywell International, Inc.<sup>(a)</sup>  | Honeywell International, Inc.<sup>(a)</sup>  |
| 02/18/2026 | &nbsp;&nbsp; 3.850% | 75000000 | &nbsp;&nbsp; 74850150 |
| 02/19/2026 | &nbsp;&nbsp; 3.850% | 25000000 | &nbsp;&nbsp; 24947425 |
| 04/06/2026 | &nbsp;&nbsp; 3.760% | 10000000 | &nbsp;&nbsp; 9932489 |
| 04/08/2026 | &nbsp;&nbsp; 3.860% | 35000000 | &nbsp;&nbsp; 34750415 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **244338529** |
| **Healthcare Insurance 1.3%** | **Healthcare Insurance 1.3%** | **Healthcare Insurance 1.3%** | **Healthcare Insurance 1.3%** |
| UnitedHealth Group, Inc.<sup>(a)</sup>  | UnitedHealth Group, Inc.<sup>(a)</sup>  | UnitedHealth Group, Inc.<sup>(a)</sup>  | UnitedHealth Group, Inc.<sup>(a)</sup>  |
| 02/02/2026 | &nbsp;&nbsp; 3.800% | 206450000 | &nbsp;&nbsp; 206385588 |
| **Integrated Energy 0.7%** | **Integrated Energy 0.7%** | **Integrated Energy 0.7%** | **Integrated Energy 0.7%** |
| Chevron Corp.<sup>(a)</sup>  | Chevron Corp.<sup>(a)</sup>  | Chevron Corp.<sup>(a)</sup>  | Chevron Corp.<sup>(a)</sup>  |
| 02/05/2026 | &nbsp;&nbsp; 3.690% | 20000000 | &nbsp;&nbsp; 19987860 |
| 03/27/2026 | &nbsp;&nbsp; 3.700% | 90000000 | &nbsp;&nbsp; 89491500 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **109479360** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Life Insurance 2.0%** | **Life Insurance 2.0%** | **Life Insurance 2.0%** | **Life Insurance 2.0%** |
| New York Life Capital Corp.<sup>(a)</sup>  | New York Life Capital Corp.<sup>(a)</sup>  | New York Life Capital Corp.<sup>(a)</sup>  | New York Life Capital Corp.<sup>(a)</sup>  |
| 02/02/2026 | &nbsp;&nbsp; 3.740% | 13657000 | &nbsp;&nbsp; 13652807 |
| 02/23/2026 | &nbsp;&nbsp; 3.760% | 38280000 | &nbsp;&nbsp; 38185716 |
| 03/13/2026 | &nbsp;&nbsp; 3.770% | 21795000 | &nbsp;&nbsp; 21700824 |
| 05/01/2026 | &nbsp;&nbsp; 3.770% | 50000000 | &nbsp;&nbsp; 49534377 |
| Prudential Funding LLC | Prudential Funding LLC | Prudential Funding LLC | Prudential Funding LLC |
| 02/02/2026 | &nbsp;&nbsp; 3.750% | 180000000 | &nbsp;&nbsp; 179944607 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **303018331** |
| **Other Financial Institutions 2.1%** | **Other Financial Institutions 2.1%** | **Other Financial Institutions 2.1%** | **Other Financial Institutions 2.1%** |
| Commerzbank US Finance, Inc. | Commerzbank US Finance, Inc. | Commerzbank US Finance, Inc. | Commerzbank US Finance, Inc. |
| 02/02/2026 | &nbsp;&nbsp; 3.740% | 330000000 | &nbsp;&nbsp; 329898690 |
| **Pharmaceuticals 1.7%** | **Pharmaceuticals 1.7%** | **Pharmaceuticals 1.7%** | **Pharmaceuticals 1.7%** |
| Novartis Finance Corp. | Novartis Finance Corp. | Novartis Finance Corp. | Novartis Finance Corp. |
| 02/02/2026 | &nbsp;&nbsp; 3.740% | 55000000 | &nbsp;&nbsp; 54983115 |
| 02/09/2026 | &nbsp;&nbsp; 3.760% | 12000000 | &nbsp;&nbsp; 11987664 |
| 02/12/2026 | &nbsp;&nbsp; 3.740% | 25000000 | &nbsp;&nbsp; 24966706 |
| 02/13/2026 | &nbsp;&nbsp; 3.760% | 115500000 | &nbsp;&nbsp; 115333565 |
| Novartis Finance Corp.<sup>(a)</sup>  | Novartis Finance Corp.<sup>(a)</sup>  | Novartis Finance Corp.<sup>(a)</sup>  | Novartis Finance Corp.<sup>(a)</sup>  |
| 02/05/2026 | &nbsp;&nbsp; 3.750% | 12500000 | &nbsp;&nbsp; 12492300 |
| Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  | Roche Holdings, Inc.<sup>(a)</sup>  |
| 03/02/2026 | &nbsp;&nbsp; 3.730% | 40000000 | &nbsp;&nbsp; 39873840 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **259637190** |
| **Retailers 2.5%** | **Retailers 2.5%** | **Retailers 2.5%** | **Retailers 2.5%** |
| Walmart, Inc. | Walmart, Inc. | Walmart, Inc. | Walmart, Inc. |
| 02/09/2026 | &nbsp;&nbsp; 3.730% | 150000000 | &nbsp;&nbsp; 149847000 |
| Walmart, Inc.<sup>(a)</sup>  | Walmart, Inc.<sup>(a)</sup>  | Walmart, Inc.<sup>(a)</sup>  | Walmart, Inc.<sup>(a)</sup>  |
| 02/11/2026 | &nbsp;&nbsp; 3.730% | 155000000 | &nbsp;&nbsp; 154810280 |
| 02/23/2026 | &nbsp;&nbsp; 3.730% | 75000000 | &nbsp;&nbsp; 74816325 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **379473605** |
| **Technology 5.1%** | **Technology 5.1%** | **Technology 5.1%** | **Technology 5.1%** |
| Apple, Inc. | Apple, Inc. | Apple, Inc. | Apple, Inc. |
| 02/04/2026 | &nbsp;&nbsp; 3.700% | 100000000 | &nbsp;&nbsp; 99949300 |
| 02/12/2026 | &nbsp;&nbsp; 3.710% | 183500000 | &nbsp;&nbsp; 183257963 |
| 02/17/2026 | &nbsp;&nbsp; 3.710% | 10000000 | &nbsp;&nbsp; 9981720 |
| 02/24/2026 | &nbsp;&nbsp; 3.710% | 65000000 | &nbsp;&nbsp; 64835030 |
| Apple, Inc.<sup>(a)</sup>  | Apple, Inc.<sup>(a)</sup>  | Apple, Inc.<sup>(a)</sup>  | Apple, Inc.<sup>(a)</sup>  |
| 02/26/2026 | &nbsp;&nbsp; 3.720% | 65000000 | &nbsp;&nbsp; 64821445 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Cisco Systems, Inc. | Cisco Systems, Inc. | Cisco Systems, Inc. | Cisco Systems, Inc. |
| 04/13/2026 | &nbsp;&nbsp; 3.790% | 100000000 | &nbsp;&nbsp; 99247200 |
| 04/15/2026 | &nbsp;&nbsp; 3.790% | 30000000 | &nbsp;&nbsp; 29768010 |
| 04/29/2026 | &nbsp;&nbsp; 3.800% | 90000000 | &nbsp;&nbsp; 89174790 |
| 05/01/2026 | &nbsp;&nbsp; 3.800% | 140000000 | &nbsp;&nbsp; 138687780 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **779723238** |
| Total Commercial Paper <br>(Cost $5,165,143,541) | Total Commercial Paper <br>(Cost $5,165,143,541) | Total Commercial Paper <br>(Cost $5,165,143,541) | &nbsp;&nbsp; **5164559020** |
| **Treasury Bills 8.4%** | **Treasury Bills 8.4%** | **Treasury Bills 8.4%** | **Treasury Bills 8.4%** |
| **United States 8.4%** | **United States 8.4%** | **United States 8.4%** | **United States 8.4%** |
| U.S Treasury Bills | U.S Treasury Bills | U.S Treasury Bills | U.S Treasury Bills |
| 02/19/2026 | &nbsp;&nbsp; 3.110% | 40000000 | &nbsp;&nbsp; 39932055 |
| 03/12/2026 | &nbsp;&nbsp; 3.420% | 40100000 | &nbsp;&nbsp; 39946321 |
| 03/19/2026 | &nbsp;&nbsp; 3.460% | 15000000 | &nbsp;&nbsp; 14932119 |
| 04/02/2026 | &nbsp;&nbsp; 3.500% | 80000000 | &nbsp;&nbsp; 79526888 |
| 04/09/2026 | &nbsp;&nbsp; 3.500% | 80000000 | &nbsp;&nbsp; 79474567 |
| 04/16/2026 | &nbsp;&nbsp; 3.510% | 35000000 | &nbsp;&nbsp; 34745774 |
| 04/23/2026 | &nbsp;&nbsp; 3.520% | 110000000 | &nbsp;&nbsp; 109127699 |
| U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills | U.S. Treasury Bills |
| 02/03/2026 | &nbsp;&nbsp; 0.900% | 205000000 | &nbsp;&nbsp; 204979733 |
| 02/17/2026 | &nbsp;&nbsp; 3.050% | 245000000 | &nbsp;&nbsp; 244631503 |
| 02/24/2026 | &nbsp;&nbsp; 3.230% | 85000000 | &nbsp;&nbsp; 84812558 |
| 03/10/2026 | &nbsp;&nbsp; 3.400% | 90900000 | &nbsp;&nbsp; 90570600 |
| 03/24/2026 | &nbsp;&nbsp; 3.500% | 110000000 | &nbsp;&nbsp; 109444001 |
| 05/28/2026 | &nbsp;&nbsp; 3.560% | 40000000 | &nbsp;&nbsp; 39544854 |
| 06/04/2026 | &nbsp;&nbsp; 3.550% | 40000000 | &nbsp;&nbsp; 39518918 |
| 06/25/2026 | &nbsp;&nbsp; 3.560% | 40000000 | &nbsp;&nbsp; 39437708 |
| 07/09/2026 | &nbsp;&nbsp; 3.570% | 6000000 | &nbsp;&nbsp; 5907652 |
| 07/23/2026 | &nbsp;&nbsp; 3.570% | 40000000 | &nbsp;&nbsp; 39330682 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **1295863632** |
| Total Treasury Bills <br>(Cost $1,295,568,305) | Total Treasury Bills <br>(Cost $1,295,568,305) | Total Treasury Bills <br>(Cost $1,295,568,305) | &nbsp;&nbsp; **1295863632** |
| **U.S. Government & Agency Obligations 43.7%** | **U.S. Government & Agency Obligations 43.7%** | **U.S. Government & Agency Obligations 43.7%** | **U.S. Government & Agency Obligations 43.7%** |
| Fannie Mae Discount Notes | Fannie Mae Discount Notes | Fannie Mae Discount Notes | Fannie Mae Discount Notes |
| 02/06/2026 | &nbsp;&nbsp; 3.720% | 35000000 | &nbsp;&nbsp; 34975016 |
| 02/10/2026 | &nbsp;&nbsp; 3.730% | 40000000 | &nbsp;&nbsp; 39955096 |
| 02/11/2026 | &nbsp;&nbsp; 3.730% | 35000000 | &nbsp;&nbsp; 34957148 |
| 02/13/2026 | &nbsp;&nbsp; 3.720% | 40000000 | &nbsp;&nbsp; 39942976 |
| 03/09/2026 | &nbsp;&nbsp; 3.730% | 50000000 | &nbsp;&nbsp; 49806456 |
| 04/10/2026 | &nbsp;&nbsp; 3.750% | 16000000 | &nbsp;&nbsp; 15885806 |
| Federal Agricultural Mortgage Corp.<sup>(b)</sup>  | Federal Agricultural Mortgage Corp.<sup>(b)</sup>  | Federal Agricultural Mortgage Corp.<sup>(b)</sup>  | Federal Agricultural Mortgage Corp.<sup>(b)</sup>  |
| SOFR + 0.045% <br> 07/24/2026<br>| &nbsp;&nbsp; 3.710% | 45000000 | &nbsp;&nbsp; 44993131 |
| SOFR + 0.100% <br> 09/18/2026<br>| &nbsp;&nbsp; 3.760% | 128000000 | &nbsp;&nbsp; 127969784 |
| SOFR + 0.145% <br> 01/22/2027<br>| &nbsp;&nbsp; 3.790% | 200000000 | &nbsp;&nbsp; 199855129 |
| SOFR + 0.100% <br> 03/04/2027<br>| &nbsp;&nbsp; 3.770% | 72000000 | &nbsp;&nbsp; 71901305 |

---

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| SOFR + 0.130% <br> 04/23/2027<br>| &nbsp;&nbsp; 3.800% | 64000000 | &nbsp;&nbsp; 63927510 |
| SOFR + 0.120% <br> 05/12/2027<br>| &nbsp;&nbsp; 3.810% | 69000000 | &nbsp;&nbsp; 68929239 |
| SOFR + 0.150% <br> 07/14/2027<br>| &nbsp;&nbsp; 3.810% | 75000000 | &nbsp;&nbsp; 74871237 |
| SOFR + 0.160% <br> 08/13/2027<br>| &nbsp;&nbsp; 3.860% | 79000000 | &nbsp;&nbsp; 78865261 |
| SOFR + 0.160% <br> 08/18/2027<br>| &nbsp;&nbsp; 3.850% | 132500000 | &nbsp;&nbsp; 132275351 |
| SOFR + 0.160% <br> 09/03/2027<br>| &nbsp;&nbsp; 3.850% | 32500000 | &nbsp;&nbsp; 32441300 |
| SOFR + 0.150% <br> 12/08/2027<br>| &nbsp;&nbsp; 3.810% | 125000000 | &nbsp;&nbsp; 124984788 |
| SOFR + 0.160% <br> 12/21/2027<br>| &nbsp;&nbsp; 3.840% | 70500000 | &nbsp;&nbsp; 70489787 |
| Federal Agricultural Mortgage Corp. Discount Notes | Federal Agricultural Mortgage Corp. Discount Notes | Federal Agricultural Mortgage Corp. Discount Notes | Federal Agricultural Mortgage Corp. Discount Notes |
| 04/27/2026 | &nbsp;&nbsp; 4.070% | 55000000 | &nbsp;&nbsp; 54471939 |
| Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. | Federal Farm Credit Banks Funding Corp. |
| 05/20/2026 | &nbsp;&nbsp; 3.960% | 71500000 | &nbsp;&nbsp; 71461796 |
| 09/02/2026 | &nbsp;&nbsp; 4.050% | 146000000 | &nbsp;&nbsp; 145977251 |
| Federal Farm Credit Discount Notes | Federal Farm Credit Discount Notes | Federal Farm Credit Discount Notes | Federal Farm Credit Discount Notes |
| 02/02/2026 | &nbsp;&nbsp; 3.820% | 597000000 | &nbsp;&nbsp; 596812806 |
| 02/03/2026 | &nbsp;&nbsp; 5.010% | 50000000 | &nbsp;&nbsp; 49979135 |
| 02/04/2026 | &nbsp;&nbsp; 3.800% | 90000000 | &nbsp;&nbsp; 89953135 |
| 02/10/2026 | &nbsp;&nbsp; 4.130% | 108475000 | &nbsp;&nbsp; 108350686 |
| 02/20/2026 | &nbsp;&nbsp; 3.940% | 68000000 | &nbsp;&nbsp; 67851623 |
| 02/24/2026 | &nbsp;&nbsp; 3.800% | 15000000 | &nbsp;&nbsp; 14961015 |
| 03/03/2026 | &nbsp;&nbsp; 3.810% | 3900000 | &nbsp;&nbsp; 3887007 |
| 03/04/2026 | &nbsp;&nbsp; 3.800% | 15000000 | &nbsp;&nbsp; 14948601 |
| 03/06/2026 | &nbsp;&nbsp; 3.640% | 30000000 | &nbsp;&nbsp; 29891054 |
| 03/30/2026 | &nbsp;&nbsp; 3.770% | 20000000 | &nbsp;&nbsp; 19878772 |
| 03/31/2026 | &nbsp;&nbsp; 3.770% | 20000000 | &nbsp;&nbsp; 19876777 |
| 04/27/2026 | &nbsp;&nbsp; 3.720% | 25000000 | &nbsp;&nbsp; 24780172 |
| Federal Home Loan Bank Discount Notes | Federal Home Loan Bank Discount Notes | Federal Home Loan Bank Discount Notes | Federal Home Loan Bank Discount Notes |
| 02/25/2026 | &nbsp;&nbsp; 3.730% | 80000000 | &nbsp;&nbsp; 79787854 |
| 03/04/2026 | &nbsp;&nbsp; 3.730% | 87500000 | &nbsp;&nbsp; 87205722 |
| 03/11/2026 | &nbsp;&nbsp; 3.730% | 190100000 | &nbsp;&nbsp; 189325886 |
| 03/17/2026 | &nbsp;&nbsp; 3.750% | 110000000 | &nbsp;&nbsp; 109483102 |
| 03/30/2026 | &nbsp;&nbsp; 3.730% | 65000000 | &nbsp;&nbsp; 64610135 |
| 04/10/2026 | &nbsp;&nbsp; 3.730% | 10000000 | &nbsp;&nbsp; 9928965 |
| 04/17/2026 | &nbsp;&nbsp; 3.730% | 95000000 | &nbsp;&nbsp; 94258050 |
| 09/01/2026 | &nbsp;&nbsp; 3.740% | 10000000 | &nbsp;&nbsp; 9785384 |
| Federal Home Loan Banks<sup>(b)</sup>  | Federal Home Loan Banks<sup>(b)</sup>  | Federal Home Loan Banks<sup>(b)</sup>  | Federal Home Loan Banks<sup>(b)</sup>  |
| SOFR + 0.005% <br> 02/23/2026<br>| &nbsp;&nbsp; 3.690% | 35000000 | &nbsp;&nbsp; 34996407 |
| SOFR + 0.020% <br> 05/22/2026<br>| &nbsp;&nbsp; 3.710% | 65000000 | &nbsp;&nbsp; 65008587 |
| SOFR + 0.105% <br> 03/09/2027<br>| &nbsp;&nbsp; 3.770% | 220000000 | &nbsp;&nbsp; 219973812 |
| SOFR + 0.105% <br> 03/10/2027<br>| &nbsp;&nbsp; 3.770% | 95000000 | &nbsp;&nbsp; 94999655 |
| SOFR + 0.170% <br> 09/24/2027<br>| &nbsp;&nbsp; 3.840% | 80000000 | &nbsp;&nbsp; 80030601 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| SOFR + 0.180% <br> 10/07/2027<br>| &nbsp;&nbsp; 3.850% | 59000000 | &nbsp;&nbsp; 59022653 |
| SOFR + 0.175% <br> 10/21/2027<br>| &nbsp;&nbsp; 3.840% | 30000000 | &nbsp;&nbsp; 30011692 |
| Federal Home Loan Banks Discount Notes | Federal Home Loan Banks Discount Notes | Federal Home Loan Banks Discount Notes | Federal Home Loan Banks Discount Notes |
| 06/04/2018 | &nbsp;&nbsp; 3.740% | 25000000 | &nbsp;&nbsp; 24683858 |
| 02/02/2026 | &nbsp;&nbsp; 3.740% | 851200000 | &nbsp;&nbsp; 850938539 |
| 02/03/2026 | &nbsp;&nbsp; 3.740% | 85300000 | &nbsp;&nbsp; 85265031 |
| 02/04/2026 | &nbsp;&nbsp; 3.730% | 10000000 | &nbsp;&nbsp; 9994889 |
| 02/05/2026 | &nbsp;&nbsp; 3.740% | 40000000 | &nbsp;&nbsp; 39975449 |
| 02/06/2026 | &nbsp;&nbsp; 3.730% | 210000000 | &nbsp;&nbsp; 209849825 |
| 02/09/2026 | &nbsp;&nbsp; 3.740% | 83500000 | &nbsp;&nbsp; 83414582 |
| 02/10/2026 | &nbsp;&nbsp; 3.740% | 50000000 | &nbsp;&nbsp; 49943697 |
| 02/17/2026 | &nbsp;&nbsp; 3.740% | 30000000 | &nbsp;&nbsp; 29944724 |
| 02/24/2026 | &nbsp;&nbsp; 3.740% | 45000000 | &nbsp;&nbsp; 44884940 |
| 02/27/2026 | &nbsp;&nbsp; 3.730% | 153230000 | &nbsp;&nbsp; 152792619 |
| 03/02/2026 | &nbsp;&nbsp; 3.740% | 45000000 | &nbsp;&nbsp; 44857665 |
| 03/03/2026 | &nbsp;&nbsp; 3.740% | 80000000 | &nbsp;&nbsp; 79738436 |
| 03/06/2026 | &nbsp;&nbsp; 3.730% | 132370000 | &nbsp;&nbsp; 131898219 |
| 03/09/2026 | &nbsp;&nbsp; 3.740% | 40000000 | &nbsp;&nbsp; 39844761 |
| 03/12/2026 | &nbsp;&nbsp; 3.740% | 50000000 | &nbsp;&nbsp; 49790992 |
| 03/16/2026 | &nbsp;&nbsp; 3.740% | 40000000 | &nbsp;&nbsp; 39816444 |
| 03/18/2026 | &nbsp;&nbsp; 3.730% | 8000000 | &nbsp;&nbsp; 7961764 |
| 03/19/2026 | &nbsp;&nbsp; 3.740% | 45000000 | &nbsp;&nbsp; 44779818 |
| 03/20/2026 | &nbsp;&nbsp; 3.720% | 193180000 | &nbsp;&nbsp; 192218836 |
| 03/25/2026 | &nbsp;&nbsp; 3.730% | 20000000 | &nbsp;&nbsp; 19890169 |
| 03/27/2026 | &nbsp;&nbsp; 3.730% | 20000000 | &nbsp;&nbsp; 19886081 |
| 04/13/2026 | &nbsp;&nbsp; 3.740% | 45000000 | &nbsp;&nbsp; 44665861 |
| 04/21/2026 | &nbsp;&nbsp; 3.750% | 18800000 | &nbsp;&nbsp; 18644999 |
| 04/22/2026 | &nbsp;&nbsp; 3.730% | 8000000 | &nbsp;&nbsp; 7933551 |
| 05/06/2026 | &nbsp;&nbsp; 3.730% | 40000000 | &nbsp;&nbsp; 39610981 |
| 06/12/2026 | &nbsp;&nbsp; 3.730% | 36000000 | &nbsp;&nbsp; 35516862 |
| 06/25/2026 | &nbsp;&nbsp; 3.720% | 5000000 | &nbsp;&nbsp; 4926609 |
| Federal Home Loan Mortgage Corp.<sup>(b)</sup>  | Federal Home Loan Mortgage Corp.<sup>(b)</sup>  | Federal Home Loan Mortgage Corp.<sup>(b)</sup>  | Federal Home Loan Mortgage Corp.<sup>(b)</sup>  |
| SOFR + 0.110% <br> 03/05/2026<br>| &nbsp;&nbsp; 3.750% | 127000000 | &nbsp;&nbsp; 127012233 |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| 12/14/2026 | &nbsp;&nbsp; 3.840% | 47000000 | &nbsp;&nbsp; 46962532 |

---

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** | **U.S. Government & Agency Obligations (continued)** |
| **Issuer** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Federal Home Loan Mortgage Corp. Discount Notes | Federal Home Loan Mortgage Corp. Discount Notes | Federal Home Loan Mortgage Corp. Discount Notes | Federal Home Loan Mortgage Corp. Discount Notes |
| 03/12/2026 | &nbsp;&nbsp; 3.680% | 7500000 | &nbsp;&nbsp; 7499737 |
| Federal National Mortgage Association<sup>(b)</sup>  | Federal National Mortgage Association<sup>(b)</sup>  | Federal National Mortgage Association<sup>(b)</sup>  | Federal National Mortgage Association<sup>(b)</sup>  |
| SOFR + 0.135% <br> 08/21/2026<br>| &nbsp;&nbsp; 3.790% | 71000000 | &nbsp;&nbsp; 71054412 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| 02/23/2027 | &nbsp;&nbsp; 3.530% | 100000000 | &nbsp;&nbsp; 99970807 |
| Federal National Mortgage Association Discount Notes | Federal National Mortgage Association Discount Notes | Federal National Mortgage Association Discount Notes | Federal National Mortgage Association Discount Notes |
| 02/09/2026 | &nbsp;&nbsp; 3.730% | 28000000 | &nbsp;&nbsp; 27971453 |
| 03/02/2026 | &nbsp;&nbsp; 3.720% | 35000000 | &nbsp;&nbsp; 34889628 |
| Freddie Mac Discount Notes | Freddie Mac Discount Notes | Freddie Mac Discount Notes | Freddie Mac Discount Notes |
| 02/09/2026 | &nbsp;&nbsp; 3.840% | 42658000 | &nbsp;&nbsp; 42613123 |
| Tennessee Valley Authority Discount Notes | Tennessee Valley Authority Discount Notes | Tennessee Valley Authority Discount Notes | Tennessee Valley Authority Discount Notes |
| 02/18/2026 | &nbsp;&nbsp; 4.240% | 35000000 | &nbsp;&nbsp; 34925878 |
| Total U.S. Government & Agency Obligations <br>(Cost $6,746,765,049) | Total U.S. Government & Agency Obligations <br>(Cost $6,746,765,049) | Total U.S. Government & Agency Obligations <br>(Cost $6,746,765,049) | &nbsp;&nbsp; **6745106598** |
| **U.S. Treasury Obligations 1.1%** | **U.S. Treasury Obligations 1.1%** | **U.S. Treasury Obligations 1.1%** | **U.S. Treasury Obligations 1.1%** |
| **Issuer** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| U.S. Treasury<sup>(b)</sup>  | U.S. Treasury<sup>(b)</sup>  | U.S. Treasury<sup>(b)</sup>  | U.S. Treasury<sup>(b)</sup>  |
| 3-month U.S. Treasury Index + <br> 0.245% <br>01/31/2026<br>| &nbsp;&nbsp; 3.858% | 100000000 | &nbsp;&nbsp; 100000000 |
| 3-month U.S. Treasury Index + <br> 0.182% <br>07/31/2026<br>| &nbsp;&nbsp; 3.795% | 75000000 | &nbsp;&nbsp; 75041231 |
| Total U.S. Treasury Obligations <br>(Cost $174,985,903) | Total U.S. Treasury Obligations <br>(Cost $174,985,903) | Total U.S. Treasury Obligations <br>(Cost $174,985,903) | &nbsp;&nbsp; **175041231** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Total Investments in Securities** <br>**(Cost: $14,908,807,063)** | &nbsp;&nbsp; **14906942647** |
| **Other Assets & Liabilities, Net** | &nbsp;&nbsp; **508109006** |
| **Net Assets** | &nbsp;&nbsp; **15415051653** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $2,621,735,278, which represents 17.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Variable rate security. The interest rate shown was the current rate as of January 31, 2026.

**Abbreviation Legend** 

SOFR Secured Overnight Financing Rate

**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

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Fair value measurements (continued)**

participants would use in pricing an investment. An investment's level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset's or liability's fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

■

Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

■

Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

■

Level 3 — Valuations based on significant unobservable inputs (including the Fund's own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment's fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category, if any, are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The Fund's Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager's organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Asset-Backed Commercial Paper |  | &nbsp;&nbsp;&nbsp;&nbsp; 579863836 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 579863836 |
| Asset-Backed Securities - Non-Agency |  | &nbsp;&nbsp;&nbsp;&nbsp; 286497983 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 286497983 |
| Certificates of Deposit |  | &nbsp;&nbsp;&nbsp;&nbsp; 660010347 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 660010347 |
| Commercial Paper |  | &nbsp;&nbsp;&nbsp;&nbsp; 5164559020 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5164559020 |
| Treasury Bills |  | &nbsp;&nbsp;&nbsp;&nbsp; 1295863632 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1295863632 |
| U.S. Government & Agency Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 6745106598 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6745106598 |
| U.S. Treasury Obligations |  | &nbsp;&nbsp;&nbsp;&nbsp; 175041231 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 175041231 |
| Total Investments in Securities |  | &nbsp;&nbsp;&nbsp;&nbsp; 14906942647 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14906942647 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $14,908,807,063) | $14906942647 |
| Cash | 534763518 |
| Receivable for: |  |
| Dividends | 57159 |
| Interest | 17927581 |
| Prepaid expenses | 34809 |
| Total assets | 15459725714 |
| **Liabilities** |  |
| Payable for: |  |
| Distributions to shareholders | 43621514 |
| Compensation of chief compliance officer | 1204 |
| Compensation of board members | 8799 |
| Other expenses | 72155 |
| Deferred compensation of board members | 970389 |
| Total liabilities | 44674061 |
| **Net assets applicable to outstanding capital stock** | **$15415051653** |
| **Represented by** |  |
| Paid in capital | 15417903314 |
| Total distributable earnings (loss) | (2851661)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$15415051653** |
| Shares outstanding | 15419061747 |
| Net asset value per share | 0.9997 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $360026 |
| Interest | 298593338 |
| Total income | 298953364 |
| Expenses: |  |
| Custodian fees | 41910 |
| Shareholder reports and communication | 3905 |
| Accounting services fees | 16005 |
| Legal fees | 121950 |
| Fidelity and surety fees | 31771 |
| Commitment fees for bank credit facility | 41206 |
| Compensation of chief compliance officer | 1204 |
| Compensation of board members | 83443 |
| Deferred compensation of board members | 119479 |
| Other | 3028 |
| Total expenses | 463901 |
| **Net investment income** | 298489463 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | 126415 |
| Net realized gain | 126415 |
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 187328 |
| Net change in unrealized appreciation (depreciation) | 187328 |
| Net realized and unrealized gain | 313743 |
| **Net increase in net assets resulting from operations** | **$298803206** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $298489463 | &nbsp;&nbsp; $714513674 |
| Net realized gain | 126415 | &nbsp;&nbsp; 7199 |
| Net change in unrealized appreciation (depreciation) | 187328 | &nbsp;&nbsp; (187102)<br>|
| Net increase in net assets resulting from operations | 298803206 | &nbsp;&nbsp; 714333771 |
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains | (298425199)<br>| &nbsp;&nbsp; (714619628)<br>|
| Total distributions to shareholders | (298425199)<br>| &nbsp;&nbsp; (714619628)<br>|
| Increase (decrease) in net assets from capital stock activity | 967483952 | &nbsp;&nbsp; (3196934634)<br>|
| Total increase (decrease) in net assets | 967861959 | &nbsp;&nbsp; (3197220491)<br>|
| Net assets at beginning of period | 14447189694 | &nbsp;&nbsp; 17644410185 |
| **Net assets at end of period** | **$15415051653** | &nbsp;&nbsp; **$14447189694** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Shares sold | 47023775004 | &nbsp;&nbsp;&nbsp;&nbsp; 47009488387 | &nbsp;&nbsp;&nbsp;&nbsp; 90972941378 | &nbsp;&nbsp;&nbsp;&nbsp; 90951121146 |
| Shares redeemed | (46055927234)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (46042004435)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (94170017404)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (94148055780)<br>|
| **Total net increase (decrease)** | **967847770** | &nbsp;&nbsp;&nbsp;&nbsp; **967483952** | &nbsp;&nbsp;&nbsp;&nbsp; **(3197076026)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(3196934634)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share 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 is 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. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** |
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)** | **2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Per share data** |  |  |  |  |  |  |
| Net asset value, beginning of period | $0.9997 | &nbsp;&nbsp;&nbsp; $0.9998 | &nbsp;&nbsp;&nbsp; $0.9997 | &nbsp;&nbsp;&nbsp; $0.9995 | &nbsp;&nbsp;&nbsp; $0.9999 | &nbsp;&nbsp;&nbsp; $1.0000 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income | 0.0204 | &nbsp;&nbsp;&nbsp;&nbsp;0.0466 | &nbsp;&nbsp;&nbsp;&nbsp;0.0542 | &nbsp;&nbsp;&nbsp;&nbsp;0.0415 | &nbsp;&nbsp;&nbsp;&nbsp;0.0035 | &nbsp;&nbsp;&nbsp;&nbsp;0.0009 |
| Net realized and unrealized gain (loss) | 0.0001 | &nbsp;&nbsp;&nbsp; (0.0004)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.0001 | &nbsp;&nbsp;&nbsp;&nbsp;0.0001 | &nbsp;&nbsp;&nbsp; (0.0001)<br>| &nbsp;&nbsp;&nbsp; (0.0000)<br>|
| Total from investment operations | 0.0205 | &nbsp;&nbsp;&nbsp;&nbsp;0.0462 | &nbsp;&nbsp;&nbsp;&nbsp;0.0543 | &nbsp;&nbsp;&nbsp;&nbsp;0.0416 | &nbsp;&nbsp;&nbsp;&nbsp;0.0034 | &nbsp;&nbsp;&nbsp;&nbsp;0.0009 |
| **Less distributions to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.0205)<br>| &nbsp;&nbsp;&nbsp; (0.0463)<br>| &nbsp;&nbsp;&nbsp; (0.0542)<br>| &nbsp;&nbsp;&nbsp; (0.0414)<br>| &nbsp;&nbsp;&nbsp; (0.0038)<br>| &nbsp;&nbsp;&nbsp; (0.0010)<br>|
| Total distributions to shareholders | (0.0205)<br>| &nbsp;&nbsp;&nbsp; (0.0463)<br>| &nbsp;&nbsp;&nbsp; (0.0542)<br>| &nbsp;&nbsp;&nbsp; (0.0414)<br>| &nbsp;&nbsp;&nbsp; (0.0038)<br>| &nbsp;&nbsp;&nbsp; (0.0010)<br>|
| Net asset value, end of period | $0.9997 | &nbsp;&nbsp;&nbsp; $0.9997 | &nbsp;&nbsp;&nbsp; $0.9998 | &nbsp;&nbsp;&nbsp; $0.9997 | &nbsp;&nbsp;&nbsp; $0.9995 | &nbsp;&nbsp;&nbsp; $0.9999 |
| Total return | 2.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.73<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.56<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>|
| **Ratios to average net assets** |  |  |  |  |  |  |
| Total gross expenses | 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>|
| Total net expenses | 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.01<br> %<br>|
| Net investment income | 4.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.66<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.13<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| **Supplemental data** |  |  |  |  |  |  |
| Net assets, end of period (in thousands) | $15415052 | &nbsp;&nbsp;&nbsp; $14447190 | &nbsp;&nbsp;&nbsp; $17644410 | &nbsp;&nbsp;&nbsp; $17417999 | &nbsp;&nbsp;&nbsp; $17023018 | &nbsp;&nbsp;&nbsp; $20154518 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Short-Term Cash Fund \| 2026

------

Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Short-Term Cash Fund (the Fund), a series of Columbia Funds Series Trust II (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.

The Trust may issue an unlimited number of shares (without par value). Investments in the Fund may be made only by investment companies, common or commingled trust funds, or similar organizations or persons that are accredited investors within the meaning of Regulation D under the Securities Act of 1933, as amended.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Debt securities generally are valued based on prices obtained from pricing services, which are intended to reflect market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques that take into account, as applicable, factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as approved independent broker-dealer quotes. Debt securities for which quotations are not readily available or not believed to be reflective of market value may also be valued based upon a bid quote from an approved independent broker-dealer. Debt securities maturing in 60 days or less are valued primarily at amortized market value, unless this method results in a valuation that management believes does not approximate fair value.

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.

Columbia Short-Term Cash Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The Fund calculates its net asset value to four decimals (e.g., $1.0000) using market-based pricing and operates with a floating net asset value. Although the Fund is a money market fund, the net asset value of the Fund will fluctuate with changes in the values of the Fund's portfolio securities. As a result, the Fund's net asset value may be above or below $1.0000. Prior to October 1, 2016, the Fund maintained a stable net asset value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**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.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Dividend income is recorded on the ex-dividend date.

Interest income, including amortization of premium and discount, is recognized daily.

**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.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually after the fiscal year in which the capital gains were earned, unless offset by any available capital loss carryforward. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Columbia Short-Term Cash Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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, subject to the policies set by the Board of Trustees, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The Fund does not pay a management fee for the investment advisory or administrative services provided to the Fund, but it may pay taxes, brokerage commissions and nonadvisory expenses.

**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** 

The Fund has a Transfer and Dividend Disbursing Agent Agreement with Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, under which the Fund does not pay an annual fee to the Transfer Agent.

**Distribution and service fees**

The Fund has 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 Fund does not pay the Distributor a fee for the distribution services it provides to the Fund.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>|
| 14908807000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 703000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2567000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1864000)<br>|

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

Columbia Short-Term Cash Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. 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.

As noted above, the Fund may only participate in the Interfund Program as a lending fund. The Fund did not lend money under the Interfund Program during the six months ended January 31, 2026.

Note 6. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is disclosed as Commitment fees for bank credit facility in the Statement of Operations. This agreement expires annually in October unless extended or renewed. Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 7. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances,

Columbia Short-Term Cash Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 100.0% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 8. 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 9. 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 Short-Term Cash Fund \| 2026

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**Columbia Short-Term Cash Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img70bb517d2.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing.** The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

SAR224_07_T01_(03/26)

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![](g80035img38a4e35d1.jpg)

Columbia Strategic Municipal Income Fund

**Semi-Annual Financial Statements and Additional Information**

January 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Not FDIC or NCUA Insured** | **No Financial Institution Guarantee** | **May Lose Value** |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_1a486bf9-22c8-4cb6-8b53-937269881c99_POI-CommonContent-Date-37_1) | 3 |
| [Statement of Assets and Liabilities](#xx_1a486bf9-22c8-4cb6-8b53-937269881c99_FS-CommonContent-Date-37_1) | 22 |
| [Statement of Operations](#xx_1a486bf9-22c8-4cb6-8b53-937269881c99_FS-CommonContent-Date-37_2) | 23 |
| [Statement of Changes in Net Assets](#xx_1a486bf9-22c8-4cb6-8b53-937269881c99_FS-CommonContent-Date-37_3) | 24 |
| [Financial Highlights](#xx_1a486bf9-22c8-4cb6-8b53-937269881c99_FIHI-CommonContent-Date-37_1) | 26 |
| [Notes to Financial Statements](#xx_1a486bf9-22c8-4cb6-8b53-937269881c99_NTF-CommonContent-Date-37_1) | 30 |

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Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments

January 31, 2026 (Unaudited)

(Percentages represent value of investments compared to net assets)

**Investments in securities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Floating Rate Notes 1.8%** | **Floating Rate Notes 1.8%** | **Floating Rate Notes 1.8%** | **Floating Rate Notes 1.8%** |
| **Issue Description** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **New York 1.8%** | **New York 1.8%** | **New York 1.8%** | **New York 1.8%** |
| City of New York<sup>(a),(b)</sup>  | City of New York<sup>(a),(b)</sup>  | City of New York<sup>(a),(b)</sup>  | City of New York<sup>(a),(b)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Fiscal 2015 | Fiscal 2015 | Fiscal 2015 | Fiscal 2015 |
| Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) | Subordinated Series 2015 (JPMorgan Chase Bank) |
| 06/01/2044 | &nbsp;&nbsp; 3.250% | 1000000 | &nbsp;&nbsp; 1000000 |
| Series 2016 (Landesbank Hessen-Thüringen) | Series 2016 (Landesbank Hessen-Thüringen) | Series 2016 (Landesbank Hessen-Thüringen) | Series 2016 (Landesbank Hessen-Thüringen) |
| 08/01/2044 | &nbsp;&nbsp; 3.250% | 1995000 | &nbsp;&nbsp; 1995000 |
| Subordinated Series 2014I-2 (JPMorgan Chase Bank) | Subordinated Series 2014I-2 (JPMorgan Chase Bank) | Subordinated Series 2014I-2 (JPMorgan Chase Bank) | Subordinated Series 2014I-2 (JPMorgan Chase Bank) |
| 03/01/2040 | &nbsp;&nbsp; 3.250% | 6640000 | &nbsp;&nbsp; 6640000 |
| New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  | New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  | New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  | New York City Municipal Water Finance Authority<sup>(a),(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2011 (JPMorgan Chase Bank) | Series 2011 (JPMorgan Chase Bank) | Series 2011 (JPMorgan Chase Bank) | Series 2011 (JPMorgan Chase Bank) |
| 06/15/2044 | &nbsp;&nbsp; 3.250% | 5250000 | &nbsp;&nbsp; 5250000 |
| New York City Transitional Finance Authority<sup>(a),(b)</sup>  | New York City Transitional Finance Authority<sup>(a),(b)</sup>  | New York City Transitional Finance Authority<sup>(a),(b)</sup>  | New York City Transitional Finance Authority<sup>(a),(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Future Tax Secured | Future Tax Secured | Future Tax Secured | Future Tax Secured |
| Subordinated Series 2018 (JPMorgan Chase Bank) | Subordinated Series 2018 (JPMorgan Chase Bank) | Subordinated Series 2018 (JPMorgan Chase Bank) | Subordinated Series 2018 (JPMorgan Chase Bank) |
| 08/01/2042 | &nbsp;&nbsp; 3.250% | 6000000 | &nbsp;&nbsp; 6000000 |
| New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  | New York City Water & Sewer System<sup>(a),(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 2nd General Resolution | 2nd General Resolution | 2nd General Resolution | 2nd General Resolution |
| Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) | Series 2013 (JPMorgan Chase Bank) |
| 06/15/2050 | &nbsp;&nbsp; 3.250% | 6010000 | &nbsp;&nbsp; 6010000 |
| 06/15/2050 | &nbsp;&nbsp; 3.250% | 2000000 | &nbsp;&nbsp; 2000000 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **28895000** |
| Total Floating Rate Notes <br>(Cost $28,895,000) | Total Floating Rate Notes <br>(Cost $28,895,000) | Total Floating Rate Notes <br>(Cost $28,895,000) | &nbsp;&nbsp; **28895000** |
| **Municipal Bonds 93.0%** | **Municipal Bonds 93.0%** | **Municipal Bonds 93.0%** | **Municipal Bonds 93.0%** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Alabama 4.4%** | **Alabama 4.4%** | **Alabama 4.4%** | **Alabama 4.4%** |
| Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  | Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  | Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  | Baldwin County Industrial Development Authority<sup>(c),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Novelis Corp. Project | Novelis Corp. Project | Novelis Corp. Project | Novelis Corp. Project |
| Series 2025 (Mandatory Put 06/01/32) | Series 2025 (Mandatory Put 06/01/32) | Series 2025 (Mandatory Put 06/01/32) | Series 2025 (Mandatory Put 06/01/32) |
| 06/01/2055 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2554798 |
| Black Belt Energy Gas District | Black Belt Energy Gas District | Black Belt Energy Gas District | Black Belt Energy Gas District |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Gas Project | Gas Project | Gas Project | Gas Project |
| Series 2023D-1 (Mandatory Put 02/01/29) | Series 2023D-1 (Mandatory Put 02/01/29) | Series 2023D-1 (Mandatory Put 02/01/29) | Series 2023D-1 (Mandatory Put 02/01/29) |
| 06/01/2049 | &nbsp;&nbsp; 5.500% | 3200000 | &nbsp;&nbsp; 3393785 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Gas Project | Gas Project | Gas Project | Gas Project |
| Series 2025G | Series 2025G | Series 2025G | Series 2025G |
| 10/01/2035 | &nbsp;&nbsp; 5.000% | 4170000 | &nbsp;&nbsp; 4481807 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Black Belt Energy Gas District<sup>(b)</sup>  | Black Belt Energy Gas District<sup>(b)</sup>  | Black Belt Energy Gas District<sup>(b)</sup>  | Black Belt Energy Gas District<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Gas Project | Gas Project | Gas Project | Gas Project |
| Series 2025A (Mandatory Put 05/01/32) | Series 2025A (Mandatory Put 05/01/32) | Series 2025A (Mandatory Put 05/01/32) | Series 2025A (Mandatory Put 05/01/32) |
| 05/01/2056 | &nbsp;&nbsp; 5.250% | 7000000 | &nbsp;&nbsp; 7279620 |
| Series 2025E (Mandatory Put 05/01/35) | Series 2025E (Mandatory Put 05/01/35) | Series 2025E (Mandatory Put 05/01/35) | Series 2025E (Mandatory Put 05/01/35) |
| 12/01/2055 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2680679 |
| Series 2024A (Mandatory Put 09/01/32) | Series 2024A (Mandatory Put 09/01/32) | Series 2024A (Mandatory Put 09/01/32) | Series 2024A (Mandatory Put 09/01/32) |
| 05/01/2055 | &nbsp;&nbsp; 5.250% | 6500000 | &nbsp;&nbsp; 7012188 |
| Series 2024D (Mandatory Put 11/01/34) | Series 2024D (Mandatory Put 11/01/34) | Series 2024D (Mandatory Put 11/01/34) | Series 2024D (Mandatory Put 11/01/34) |
| 03/01/2055 | &nbsp;&nbsp; 5.000% | 8000000 | &nbsp;&nbsp; 8640009 |
| County of Jefferson Sewer | County of Jefferson Sewer | County of Jefferson Sewer | County of Jefferson Sewer |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 10/01/2049 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5194555 |
| Energy Southeast A Cooperative District | Energy Southeast A Cooperative District | Energy Southeast A Cooperative District | Energy Southeast A Cooperative District |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 11/01/2035 | &nbsp;&nbsp; 5.000% | 1460000 | &nbsp;&nbsp; 1569298 |
| Energy Southeast, A Cooperative District | Energy Southeast, A Cooperative District | Energy Southeast, A Cooperative District | Energy Southeast, A Cooperative District |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024B (Mandatory Put 06/01/32) | Series 2024B (Mandatory Put 06/01/32) | Series 2024B (Mandatory Put 06/01/32) | Series 2024B (Mandatory Put 06/01/32) |
| 07/01/2054 | &nbsp;&nbsp; 5.250% | 4250000 | &nbsp;&nbsp; 4611076 |
| Homewood Educational Building Authority | Homewood Educational Building Authority | Homewood Educational Building Authority | Homewood Educational Building Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Recreation Center Project at Samford University | Recreation Center Project at Samford University | Recreation Center Project at Samford University | Recreation Center Project at Samford University |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 10/01/2054 | &nbsp;&nbsp; 5.500% | 1500000 | &nbsp;&nbsp; 1510777 |
| Student Housing & Parking Project | Student Housing & Parking Project | Student Housing & Parking Project | Student Housing & Parking Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 10/01/2056 | &nbsp;&nbsp; 5.000% | 1685000 | &nbsp;&nbsp; 1572650 |
| Hoover Industrial Development Board<sup>(d)</sup>  | Hoover Industrial Development Board<sup>(d)</sup>  | Hoover Industrial Development Board<sup>(d)</sup>  | Hoover Industrial Development Board<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| US Steel Corporation Project | US Steel Corporation Project | US Steel Corporation Project | US Steel Corporation Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 10/01/2049 | &nbsp;&nbsp; 5.750% | 4500000 | &nbsp;&nbsp; 4542168 |
| Southeast Energy Authority | Southeast Energy Authority | Southeast Energy Authority | Southeast Energy Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Project #4 | Project #4 | Project #4 | Project #4 |
| Series 2002B-1 (Mandatory Put 08/01/28) | Series 2002B-1 (Mandatory Put 08/01/28) | Series 2002B-1 (Mandatory Put 08/01/28) | Series 2002B-1 (Mandatory Put 08/01/28) |
| 05/01/2053 | &nbsp;&nbsp; 5.000% | 8695000 | &nbsp;&nbsp; 9054269 |
| Southeast Energy Authority A Cooperative District | Southeast Energy Authority A Cooperative District | Southeast Energy Authority A Cooperative District | Southeast Energy Authority A Cooperative District |
| Series 2025E | Series 2025E | Series 2025E | Series 2025E |
| 10/01/2030 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5428533 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **69526212** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Arizona 1.3%** | **Arizona 1.3%** | **Arizona 1.3%** | **Arizona 1.3%** |
| Arizona Industrial Development Authority | Arizona Industrial Development Authority | Arizona Industrial Development Authority | Arizona Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Equitable School Revolving Fund | Equitable School Revolving Fund | Equitable School Revolving Fund | Equitable School Revolving Fund |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2054 | &nbsp;&nbsp; 5.000% | 1250000 | &nbsp;&nbsp; 1257048 |
| City of Phoenix Civic Improvement Corp.<sup>(d)</sup>  | City of Phoenix Civic Improvement Corp.<sup>(d)</sup>  | City of Phoenix Civic Improvement Corp.<sup>(d)</sup>  | City of Phoenix Civic Improvement Corp.<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2048 | &nbsp;&nbsp; 4.000% | 6000000 | &nbsp;&nbsp; 5339695 |
| Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  | Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  | Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  | Industrial Development Authority of the County of Pima (The)<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| American Leadership Academy | American Leadership Academy | American Leadership Academy | American Leadership Academy |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/15/2051 | &nbsp;&nbsp; 4.000% | 1700000 | &nbsp;&nbsp; 1294880 |
| La Paz County Industrial Development Authority | La Paz County Industrial Development Authority | La Paz County Industrial Development Authority | La Paz County Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Charter School Solutions - Harmony Public Schools Project | Charter School Solutions - Harmony Public Schools Project | Charter School Solutions - Harmony Public Schools Project | Charter School Solutions - Harmony Public Schools Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 02/15/2046 | &nbsp;&nbsp; 5.000% | 6500000 | &nbsp;&nbsp; 6281370 |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 02/15/2048 | &nbsp;&nbsp; 5.000% | 1070000 | &nbsp;&nbsp; 1025689 |
| Maricopa County Industrial Development Authority | Maricopa County Industrial Development Authority | Maricopa County Industrial Development Authority | Maricopa County Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Legacy Traditional Schools Project | Legacy Traditional Schools Project | Legacy Traditional Schools Project | Legacy Traditional Schools Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 07/01/2039 | &nbsp;&nbsp; 4.000% | 2415000 | &nbsp;&nbsp; 2302254 |
| 07/01/2044 | &nbsp;&nbsp; 4.250% | 1700000 | &nbsp;&nbsp; 1520233 |
| Sierra Vista Industrial Development Authority<sup>(c)</sup>  | Sierra Vista Industrial Development Authority<sup>(c)</sup>  | Sierra Vista Industrial Development Authority<sup>(c)</sup>  | Sierra Vista Industrial Development Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| American Leadership Academy Project | American Leadership Academy Project | American Leadership Academy Project | American Leadership Academy Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/15/2059 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1301583 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **20322752** |
| **California 4.8%** | **California 4.8%** | **California 4.8%** | **California 4.8%** |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  | Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  | Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  | Burbank-Glendale-Pasadena Airport Authority Brick Campaign<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024B (AGM) | Series 2024B (AGM) | Series 2024B (AGM) | Series 2024B (AGM) |
| 07/01/2049 | &nbsp;&nbsp; 4.375% | 2750000 | &nbsp;&nbsp; 2637244 |
| 07/01/2054 | &nbsp;&nbsp; 4.500% | 2205000 | &nbsp;&nbsp; 2107841 |
| California Community Choice Financing Authority<sup>(b)</sup>  | California Community Choice Financing Authority<sup>(b)</sup>  | California Community Choice Financing Authority<sup>(b)</sup>  | California Community Choice Financing Authority<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Clean Energy Project | Clean Energy Project | Clean Energy Project | Clean Energy Project |
| Series 2025 (Mandatory Put 07/01/34) | Series 2025 (Mandatory Put 07/01/34) | Series 2025 (Mandatory Put 07/01/34) | Series 2025 (Mandatory Put 07/01/34) |
| 10/01/2055 | &nbsp;&nbsp; 5.000% | 7000000 | &nbsp;&nbsp; 7361766 |
| Series 2025 (Mandatory Put 11/01/35) | Series 2025 (Mandatory Put 11/01/35) | Series 2025 (Mandatory Put 11/01/35) | Series 2025 (Mandatory Put 11/01/35) |
| 01/01/2056 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1638163 |
| Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project | Green Bonds - Clean Energy Project |
| Series 2023 (Mandatory Put 11/01/30) | Series 2023 (Mandatory Put 11/01/30) | Series 2023 (Mandatory Put 11/01/30) | Series 2023 (Mandatory Put 11/01/30) |
| 10/01/2054 | &nbsp;&nbsp; 5.500% | 3455000 | &nbsp;&nbsp; 3758075 |

---

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| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Series 2025A (Mandatory Put 05/01/35) | Series 2025A (Mandatory Put 05/01/35) | Series 2025A (Mandatory Put 05/01/35) | Series 2025A (Mandatory Put 05/01/35) |
| 01/01/2056 | &nbsp;&nbsp; 5.000% | 550000 | &nbsp;&nbsp; 583629 |
| California County Tobacco Securitization Agency<sup>(e)</sup>  | California County Tobacco Securitization Agency<sup>(e)</sup>  | California County Tobacco Securitization Agency<sup>(e)</sup>  | California County Tobacco Securitization Agency<sup>(e)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Capital Allocation | Capital Allocation | Capital Allocation | Capital Allocation |
| Subordinated Series 2020B-2 | Subordinated Series 2020B-2 | Subordinated Series 2020B-2 | Subordinated Series 2020B-2 |
| 06/01/2055 | &nbsp;&nbsp; 0.000% | 11915000 | &nbsp;&nbsp; 2240178 |
| California Infrastructure & Economic Development Bank | California Infrastructure & Economic Development Bank | California Infrastructure & Economic Development Bank | California Infrastructure & Economic Development Bank |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Equitable School Revolving Fund | Equitable School Revolving Fund | Equitable School Revolving Fund | Equitable School Revolving Fund |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2057 | &nbsp;&nbsp; 5.000% | 1320000 | &nbsp;&nbsp; 1330473 |
| California Municipal Finance Authority<sup>(c)</sup>  | California Municipal Finance Authority<sup>(c)</sup>  | California Municipal Finance Authority<sup>(c)</sup>  | California Municipal Finance Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| California Baptist University | California Baptist University | California Baptist University | California Baptist University |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 11/01/2046 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 967367 |
| Catalyst Impact Fund Housing | Catalyst Impact Fund Housing | Catalyst Impact Fund Housing | Catalyst Impact Fund Housing |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 01/01/2039 | &nbsp;&nbsp; 6.000% | 5000000 | &nbsp;&nbsp; 5248827 |
| California Municipal Finance Authority | California Municipal Finance Authority | California Municipal Finance Authority | California Municipal Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| HumanGood California Obligated Group | HumanGood California Obligated Group | HumanGood California Obligated Group | HumanGood California Obligated Group |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 10/01/2046 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2254385 |
| California Public Finance Authority<sup>(c)</sup>  | California Public Finance Authority<sup>(c)</sup>  | California Public Finance Authority<sup>(c)</sup>  | California Public Finance Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| The James | The James | The James | The James |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 06/01/2059 | &nbsp;&nbsp; 6.375% | 2000000 | &nbsp;&nbsp; 1909485 |
| California Statewide Communities Development Authority | California Statewide Communities Development Authority | California Statewide Communities Development Authority | California Statewide Communities Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Front Porch Communities & Services | Front Porch Communities & Services | Front Porch Communities & Services | Front Porch Communities & Services |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 04/01/2042 | &nbsp;&nbsp; 4.000% | 1905000 | &nbsp;&nbsp; 1862180 |
| California Statewide Communities Development Authority<sup>(c)</sup>  | California Statewide Communities Development Authority<sup>(c)</sup>  | California Statewide Communities Development Authority<sup>(c)</sup>  | California Statewide Communities Development Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Loma Linda University Medical Center | Loma Linda University Medical Center | Loma Linda University Medical Center | Loma Linda University Medical Center |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 12/01/2046 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 500209 |
| City of Los Angeles Department of Airports<sup>(d)</sup>  | City of Los Angeles Department of Airports<sup>(d)</sup>  | City of Los Angeles Department of Airports<sup>(d)</sup>  | City of Los Angeles Department of Airports<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Subordinated Series 2025 | Subordinated Series 2025 | Subordinated Series 2025 | Subordinated Series 2025 |
| 05/15/2055 | &nbsp;&nbsp; 5.000% | 1350000 | &nbsp;&nbsp; 1375502 |
| 05/15/2055 | &nbsp;&nbsp; 5.500% | 1480000 | &nbsp;&nbsp; 1567568 |
| Hastings Campus Housing Finance Authority | Hastings Campus Housing Finance Authority | Hastings Campus Housing Finance Authority | Hastings Campus Housing Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Senior Green Bonds | Senior Green Bonds | Senior Green Bonds | Senior Green Bonds |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 07/01/2045 | &nbsp;&nbsp; 5.000% | 3500000 | &nbsp;&nbsp; 3358382 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Riverside County Transportation Commission<sup>(e)</sup>  | Riverside County Transportation Commission<sup>(e)</sup>  | Riverside County Transportation Commission<sup>(e)</sup>  | Riverside County Transportation Commission<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2013 Escrowed to Maturity | Series 2013 Escrowed to Maturity | Series 2013 Escrowed to Maturity | Series 2013 Escrowed to Maturity |
| 06/01/2029 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 923790 |
| Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2013 | Series 2013 | Series 2013 | Series 2013 |
| 06/01/2029 | &nbsp;&nbsp; 0.000% | 1265000 | &nbsp;&nbsp; 1144275 |
| San Diego County Regional Airport Authority<sup>(d)</sup>  | San Diego County Regional Airport Authority<sup>(d)</sup>  | San Diego County Regional Airport Authority<sup>(d)</sup>  | San Diego County Regional Airport Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Private Activity | Private Activity | Private Activity | Private Activity |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 07/01/2053 | &nbsp;&nbsp; 5.000% | 4250000 | &nbsp;&nbsp; 4324906 |
| 07/01/2058 | &nbsp;&nbsp; 5.250% | 10000000 | &nbsp;&nbsp; 10311764 |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2042 | &nbsp;&nbsp; 5.250% | 1180000 | &nbsp;&nbsp; 1316193 |
| San Francisco City & County Airport Commission<sup>(d)</sup>  | San Francisco City & County Airport Commission<sup>(d)</sup>  | San Francisco City & County Airport Commission<sup>(d)</sup>  | San Francisco City & County Airport Commission<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Second Series 2025A | Second Series 2025A | Second Series 2025A | Second Series 2025A |
| 05/01/2055 | &nbsp;&nbsp; 5.500% | 11685000 | &nbsp;&nbsp; 12383023 |
| San Francisco City & County Airport Commission - International Airport<sup>(d)</sup>  | San Francisco City & County Airport Commission - International Airport<sup>(d)</sup>  | San Francisco City & County Airport Commission - International Airport<sup>(d)</sup>  | San Francisco City & County Airport Commission - International Airport<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2022A-2 | Series 2022A-2 | Series 2022A-2 | Series 2022A-2 |
| 05/01/2052 | &nbsp;&nbsp; 4.000% | 2875000 | &nbsp;&nbsp; 2485515 |
| San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  | San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  | San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  | San Joaquin Valley Clean Energy Authority<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Clean Energy Project | Clean Energy Project | Clean Energy Project | Clean Energy Project |
| Series 2025 (Mandatory Put 07/01/35) | Series 2025 (Mandatory Put 07/01/35) | Series 2025 (Mandatory Put 07/01/35) | Series 2025 (Mandatory Put 07/01/35) |
| 01/01/2056 | &nbsp;&nbsp; 5.500% | 1445000 | &nbsp;&nbsp; 1624349 |
| State of California | State of California | State of California | State of California |
| Unrefunded Unlimited General Obligation Bonds | Unrefunded Unlimited General Obligation Bonds | Unrefunded Unlimited General Obligation Bonds | Unrefunded Unlimited General Obligation Bonds |
| Series 2004 | Series 2004 | Series 2004 | Series 2004 |
| 04/01/2029 | &nbsp;&nbsp; 5.300% | 2000 | &nbsp;&nbsp; 2005 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **75217094** |
| **Colorado 1.9%** | **Colorado 1.9%** | **Colorado 1.9%** | **Colorado 1.9%** |
| City & County of Denver<sup>(e)</sup>  | City & County of Denver<sup>(e)</sup>  | City & County of Denver<sup>(e)</sup>  | City & County of Denver<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018-A-2 | Series 2018-A-2 | Series 2018-A-2 | Series 2018-A-2 |
| 08/01/2034 | &nbsp;&nbsp; 0.000% | 6000000 | &nbsp;&nbsp; 4261654 |
| City & County of Denver Airport System<sup>(d)</sup>  | City & County of Denver Airport System<sup>(d)</sup>  | City & County of Denver Airport System<sup>(d)</sup>  | City & County of Denver Airport System<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2022D | Series 2022D | Series 2022D | Series 2022D |
| 11/15/2053 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 3040276 |
| Subordinated Series 2018A | Subordinated Series 2018A | Subordinated Series 2018A | Subordinated Series 2018A |
| 12/01/2043 | &nbsp;&nbsp; 4.000% | 3500000 | &nbsp;&nbsp; 3334558 |
| Colorado Bridge & Tunnel Enterprise | Colorado Bridge & Tunnel Enterprise | Colorado Bridge & Tunnel Enterprise | Colorado Bridge & Tunnel Enterprise |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) |
| 12/01/2054 | &nbsp;&nbsp; 5.250% | 2500000 | &nbsp;&nbsp; 2624583 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Colorado Bridge Enterprise<sup>(d)</sup>  | Colorado Bridge Enterprise<sup>(d)</sup>  | Colorado Bridge Enterprise<sup>(d)</sup>  | Colorado Bridge Enterprise<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Central 70 Project | Central 70 Project | Central 70 Project | Central 70 Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 06/30/2051 | &nbsp;&nbsp; 4.000% | 6690000 | &nbsp;&nbsp; 5665338 |
| Colorado Health Facilities Authority | Colorado Health Facilities Authority | Colorado Health Facilities Authority | Colorado Health Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| CommonSpirit Health | CommonSpirit Health | CommonSpirit Health | CommonSpirit Health |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 08/01/2049 | &nbsp;&nbsp; 4.000% | 2595000 | &nbsp;&nbsp; 2217994 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| CommonSpirit Health Obligation Group | CommonSpirit Health Obligation Group | CommonSpirit Health Obligation Group | CommonSpirit Health Obligation Group |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2042 | &nbsp;&nbsp; 5.000% | 3800000 | &nbsp;&nbsp; 4054465 |
| Colorado Housing & Finance Authority | Colorado Housing & Finance Authority | Colorado Housing & Finance Authority | Colorado Housing & Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Multi-Family Project | Multi-Family Project | Multi-Family Project | Multi-Family Project |
| Series 2019B-1 | Series 2019B-1 | Series 2019B-1 | Series 2019B-1 |
| 10/01/2039 | &nbsp;&nbsp; 3.000% | 470000 | &nbsp;&nbsp; 435775 |
| 10/01/2049 | &nbsp;&nbsp; 3.250% | 1000000 | &nbsp;&nbsp; 811767 |
| 10/01/2054 | &nbsp;&nbsp; 3.400% | 1000000 | &nbsp;&nbsp; 785359 |
| Fiddlers Business Improvement District<sup>(c)</sup>  | Fiddlers Business Improvement District<sup>(c)</sup>  | Fiddlers Business Improvement District<sup>(c)</sup>  | Fiddlers Business Improvement District<sup>(c)</sup>  |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2047 | &nbsp;&nbsp; 5.550% | 1200000 | &nbsp;&nbsp; 1214968 |
| Parterre Metropolitan District No. 5 | Parterre Metropolitan District No. 5 | Parterre Metropolitan District No. 5 | Parterre Metropolitan District No. 5 |
| Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds | Limited General Obligation Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 12/01/2055 | &nbsp;&nbsp; 6.125% | 1250000 | &nbsp;&nbsp; 1306632 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **29753369** |
| **Connecticut 0.3%** | **Connecticut 0.3%** | **Connecticut 0.3%** | **Connecticut 0.3%** |
| Stamford Housing Authority | Stamford Housing Authority | Stamford Housing Authority | Stamford Housing Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Mozaic Concierge Living Project | Mozaic Concierge Living Project | Mozaic Concierge Living Project | Mozaic Concierge Living Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 10/01/2033 | &nbsp;&nbsp; 5.375% | 5000000 | &nbsp;&nbsp; 5098393 |
| **Delaware 0.3%** | **Delaware 0.3%** | **Delaware 0.3%** | **Delaware 0.3%** |
| Delaware State Health Facilities Authority | Delaware State Health Facilities Authority | Delaware State Health Facilities Authority | Delaware State Health Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Bayhealth Medical Center Project | Bayhealth Medical Center Project | Bayhealth Medical Center Project | Bayhealth Medical Center Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2040 | &nbsp;&nbsp; 4.000% | 2640000 | &nbsp;&nbsp; 2643417 |
| Delaware State Housing Authority | Delaware State Housing Authority | Delaware State Housing Authority | Delaware State Housing Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024B (GNMA) | Series 2024B (GNMA) | Series 2024B (GNMA) | Series 2024B (GNMA) |
| 07/01/2044 | &nbsp;&nbsp; 4.600% | 1095000 | &nbsp;&nbsp; 1105614 |
| 07/01/2049 | &nbsp;&nbsp; 4.650% | 960000 | &nbsp;&nbsp; 960915 |
| 07/01/2054 | &nbsp;&nbsp; 4.750% | 770000 | &nbsp;&nbsp; 766652 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5476598** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **District of Columbia 0.8%** | **District of Columbia 0.8%** | **District of Columbia 0.8%** | **District of Columbia 0.8%** |
| Metropolitan Washington Airports Authority<sup>(d)</sup>  | Metropolitan Washington Airports Authority<sup>(d)</sup>  | Metropolitan Washington Airports Authority<sup>(d)</sup>  | Metropolitan Washington Airports Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 10/01/2053 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5136769 |
| Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  | Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  | Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  | Metropolitan Washington Airports Authority Aviation<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 10/01/2049 | &nbsp;&nbsp; 5.250% | 4375000 | &nbsp;&nbsp; 4538214 |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 10/01/2050 | &nbsp;&nbsp; 5.000% | 1650000 | &nbsp;&nbsp; 1686915 |
| Metropolitan Washington Airports Authority Dulles Toll Road | Metropolitan Washington Airports Authority Dulles Toll Road | Metropolitan Washington Airports Authority Dulles Toll Road | Metropolitan Washington Airports Authority Dulles Toll Road |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Dulles Metrorail | Dulles Metrorail | Dulles Metrorail | Dulles Metrorail |
| Subordinated Series 2019 | Subordinated Series 2019 | Subordinated Series 2019 | Subordinated Series 2019 |
| 10/01/2049 | &nbsp;&nbsp; 4.000% | 2275000 | &nbsp;&nbsp; 1991987 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **13353885** |
| **Florida 2.7%** | **Florida 2.7%** | **Florida 2.7%** | **Florida 2.7%** |
| Capital Trust Agency, Inc.<sup>(c)</sup>  | Capital Trust Agency, Inc.<sup>(c)</sup>  | Capital Trust Agency, Inc.<sup>(c)</sup>  | Capital Trust Agency, Inc.<sup>(c)</sup>  |
| 04/27/2021 | 04/27/2021 | 04/27/2021 | 04/27/2021 |
| 07/01/2056 | &nbsp;&nbsp; 5.000% | 4625000 | &nbsp;&nbsp; 3948842 |
| Capital Trust Agency, Inc.<sup>(c),(f)</sup>  | Capital Trust Agency, Inc.<sup>(c),(f)</sup>  | Capital Trust Agency, Inc.<sup>(c),(f)</sup>  | Capital Trust Agency, Inc.<sup>(c),(f)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 1st Mortgage Tallahassee Tapestry Senior Housing Project | 1st Mortgage Tallahassee Tapestry Senior Housing Project | 1st Mortgage Tallahassee Tapestry Senior Housing Project | 1st Mortgage Tallahassee Tapestry Senior Housing Project |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 12/01/2045 | &nbsp;&nbsp; 0.000% | 3430000 | &nbsp;&nbsp; 411600 |
| 12/01/2050 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 120000 |
| Capital Trust Agency, Inc.<sup>(c),(e)</sup>  | Capital Trust Agency, Inc.<sup>(c),(e)</sup>  | Capital Trust Agency, Inc.<sup>(c),(e)</sup>  | Capital Trust Agency, Inc.<sup>(c),(e)</sup>  |
| Subordinated | Subordinated | Subordinated | Subordinated |
| 07/01/2061 | &nbsp;&nbsp; 0.000% | 73140000 | &nbsp;&nbsp; 6130829 |
| Capital Trust Authority<sup>(c)</sup>  | Capital Trust Authority<sup>(c)</sup>  | Capital Trust Authority<sup>(c)</sup>  | Capital Trust Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| IPS Enterprises, Inc. | IPS Enterprises, Inc. | IPS Enterprises, Inc. | IPS Enterprises, Inc. |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 06/15/2058 | &nbsp;&nbsp; 6.375% | 2300000 | &nbsp;&nbsp; 2343334 |
| City of Tampa<sup>(e)</sup>  | City of Tampa<sup>(e)</sup>  | City of Tampa<sup>(e)</sup>  | City of Tampa<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Capital Appreciation | Capital Appreciation | Capital Appreciation | Capital Appreciation |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 09/01/2035 | &nbsp;&nbsp; 0.000% | 650000 | &nbsp;&nbsp; 461958 |
| 09/01/2036 | &nbsp;&nbsp; 0.000% | 700000 | &nbsp;&nbsp; 475348 |
| 09/01/2037 | &nbsp;&nbsp; 0.000% | 700000 | &nbsp;&nbsp; 453490 |
| County of Lee Airport<sup>(d)</sup>  | County of Lee Airport<sup>(d)</sup>  | County of Lee Airport<sup>(d)</sup>  | County of Lee Airport<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 10/01/2049 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 2072458 |
| County of Miami-Dade Seaport Department<sup>(d)</sup>  | County of Miami-Dade Seaport Department<sup>(d)</sup>  | County of Miami-Dade Seaport Department<sup>(d)</sup>  | County of Miami-Dade Seaport Department<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 10/01/2052 | &nbsp;&nbsp; 5.250% | 3000000 | &nbsp;&nbsp; 3039409 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| County of Osceola Transportation<sup>(e)</sup>  | County of Osceola Transportation<sup>(e)</sup>  | County of Osceola Transportation<sup>(e)</sup>  | County of Osceola Transportation<sup>(e)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2020A-2 | Series 2020A-2 | Series 2020A-2 | Series 2020A-2 |
| 10/01/2035 | &nbsp;&nbsp; 0.000% | 2700000 | &nbsp;&nbsp; 1855516 |
| 10/01/2037 | &nbsp;&nbsp; 0.000% | 4000000 | &nbsp;&nbsp; 2502104 |
| 10/01/2038 | &nbsp;&nbsp; 0.000% | 1500000 | &nbsp;&nbsp; 890643 |
| 10/01/2039 | &nbsp;&nbsp; 0.000% | 3300000 | &nbsp;&nbsp; 1856374 |
| Florida Development Finance Corp.<sup>(c)</sup>  | Florida Development Finance Corp.<sup>(c)</sup>  | Florida Development Finance Corp.<sup>(c)</sup>  | Florida Development Finance Corp.<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Renaissance Charter School, Inc. Projects | Renaissance Charter School, Inc. Projects | Renaissance Charter School, Inc. Projects | Renaissance Charter School, Inc. Projects |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 09/15/2040 | &nbsp;&nbsp; 5.000% | 1050000 | &nbsp;&nbsp; 1025931 |
| Florida Local Government Finance Commission<sup>(c)</sup>  | Florida Local Government Finance Commission<sup>(c)</sup>  | Florida Local Government Finance Commission<sup>(c)</sup>  | Florida Local Government Finance Commission<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fleet Landing at Nocatee Project | Fleet Landing at Nocatee Project | Fleet Landing at Nocatee Project | Fleet Landing at Nocatee Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 11/15/2031 | &nbsp;&nbsp; 4.700% | 1300000 | &nbsp;&nbsp; 1319867 |
| Hillsborough County Industrial Developme | Hillsborough County Industrial Developme | Hillsborough County Industrial Developme | Hillsborough County Industrial Developme |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| BayCare Health System | BayCare Health System | BayCare Health System | BayCare Health System |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/15/2051 | &nbsp;&nbsp; 4.125% | 11000000 | &nbsp;&nbsp; 9990596 |
| Lee County Industrial Development Authority | Lee County Industrial Development Authority | Lee County Industrial Development Authority | Lee County Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Cypress Cove at HealthPark Florida, Inc. Project | Cypress Cove at HealthPark Florida, Inc. Project | Cypress Cove at HealthPark Florida, Inc. Project | Cypress Cove at HealthPark Florida, Inc. Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 10/01/2057 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 1855949 |
| Miami-Dade County Health Facilities Authority | Miami-Dade County Health Facilities Authority | Miami-Dade County Health Facilities Authority | Miami-Dade County Health Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Nicklaus Childrens Hospital | Nicklaus Childrens Hospital | Nicklaus Childrens Hospital | Nicklaus Childrens Hospital |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 08/01/2047 | &nbsp;&nbsp; 4.000% | 2250000 | &nbsp;&nbsp; 1983939 |
| Palm Beach County Health Facilities Authority | Palm Beach County Health Facilities Authority | Palm Beach County Health Facilities Authority | Palm Beach County Health Facilities Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| ACTS Retirement | ACTS Retirement | ACTS Retirement | ACTS Retirement |
| Series 2020B | Series 2020B | Series 2020B | Series 2020B |
| 11/15/2041 | &nbsp;&nbsp; 4.000% | 500000 | &nbsp;&nbsp; 494468 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **43232655** |
| **Georgia 2.3%** | **Georgia 2.3%** | **Georgia 2.3%** | **Georgia 2.3%** |
| City of Atlanta Department of Aviation<sup>(d)</sup>  | City of Atlanta Department of Aviation<sup>(d)</sup>  | City of Atlanta Department of Aviation<sup>(d)</sup>  | City of Atlanta Department of Aviation<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Bonds | Sustainable Bonds | Sustainable Bonds | Sustainable Bonds |
| Series 2025B-1 | Series 2025B-1 | Series 2025B-1 | Series 2025B-1 |
| 07/01/2050 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5186153 |
| Georgia Housing & Finance Authority | Georgia Housing & Finance Authority | Georgia Housing & Finance Authority | Georgia Housing & Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 12/01/2040 | &nbsp;&nbsp; 3.050% | 1000000 | &nbsp;&nbsp; 907411 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Main Street Energy, Inc. | Main Street Energy, Inc. | Main Street Energy, Inc. | Main Street Energy, Inc. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Energy Project | Energy Project | Energy Project | Energy Project |
| Series 2025D | Series 2025D | Series 2025D | Series 2025D |
| 12/01/2033 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5396254 |
| Main Street Natural Gas, Inc. | Main Street Natural Gas, Inc. | Main Street Natural Gas, Inc. | Main Street Natural Gas, Inc. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023A (Mandatory Put 06/01/30) | Series 2023A (Mandatory Put 06/01/30) | Series 2023A (Mandatory Put 06/01/30) | Series 2023A (Mandatory Put 06/01/30) |
| 06/01/2053 | &nbsp;&nbsp; 5.000% | 4200000 | &nbsp;&nbsp; 4458832 |
| Series 2023C (Mandatory Put 09/01/30) | Series 2023C (Mandatory Put 09/01/30) | Series 2023C (Mandatory Put 09/01/30) | Series 2023C (Mandatory Put 09/01/30) |
| 09/01/2053 | &nbsp;&nbsp; 5.000% | 4500000 | &nbsp;&nbsp; 4783385 |
| Municipal Electric Authority of Georgia | Municipal Electric Authority of Georgia | Municipal Electric Authority of Georgia | Municipal Electric Authority of Georgia |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Plant Vogtle Units 3&4 Project | Plant Vogtle Units 3&4 Project | Plant Vogtle Units 3&4 Project | Plant Vogtle Units 3&4 Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 07/01/2063 | &nbsp;&nbsp; 5.500% | 4700000 | &nbsp;&nbsp; 4835821 |
| Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) |
| 07/01/2052 | &nbsp;&nbsp; 5.000% | 4700000 | &nbsp;&nbsp; 4752028 |
| Oconee County Industrial Development Authority | Oconee County Industrial Development Authority | Oconee County Industrial Development Authority | Oconee County Industrial Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Presbyterian Village Athens Project | Presbyterian Village Athens Project | Presbyterian Village Athens Project | Presbyterian Village Athens Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2038 | &nbsp;&nbsp; 6.125% | 3515000 | &nbsp;&nbsp; 3580279 |
| 12/01/2048 | &nbsp;&nbsp; 6.250% | 1960000 | &nbsp;&nbsp; 1929449 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **35829612** |
| **Idaho 0.2%** | **Idaho 0.2%** | **Idaho 0.2%** | **Idaho 0.2%** |
| Idaho Health Facilities Authority | Idaho Health Facilities Authority | Idaho Health Facilities Authority | Idaho Health Facilities Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Terraces of Boise Project | Terraces of Boise Project | Terraces of Boise Project | Terraces of Boise Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 10/01/2050 | &nbsp;&nbsp; 4.500% | 1500000 | &nbsp;&nbsp; 1306142 |
| Idaho Housing & Finance Association | Idaho Housing & Finance Association | Idaho Housing & Finance Association | Idaho Housing & Finance Association |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) |
| 01/01/2049 | &nbsp;&nbsp; 4.600% | 2660000 | &nbsp;&nbsp; 2636894 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **3943036** |
| **Illinois 8.3%** | **Illinois 8.3%** | **Illinois 8.3%** | **Illinois 8.3%** |
| Chicago Board of Education | Chicago Board of Education | Chicago Board of Education | Chicago Board of Education |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 04/01/2045 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1015974 |
| 04/01/2048 | &nbsp;&nbsp; 5.750% | 1125000 | &nbsp;&nbsp; 1182060 |
| Special Tax Bonds | Special Tax Bonds | Special Tax Bonds | Special Tax Bonds |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 04/01/2042 | &nbsp;&nbsp; 5.000% | 1600000 | &nbsp;&nbsp; 1608138 |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Dedicated | Dedicated | Dedicated | Dedicated |
| Series 2017H | Series 2017H | Series 2017H | Series 2017H |
| 12/01/2046 | &nbsp;&nbsp; 5.000% | 3000000 | &nbsp;&nbsp; 2860306 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Project | Project | Project | Project |
| Series 2015C | Series 2015C | Series 2015C | Series 2015C |
| 12/01/2039 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 1976255 |
| Seires 2023A | Seires 2023A | Seires 2023A | Seires 2023A |
| 12/01/2049 | &nbsp;&nbsp; 6.000% | 3300000 | &nbsp;&nbsp; 3390193 |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2046 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2383588 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 12/01/2047 | &nbsp;&nbsp; 4.000% | 4000000 | &nbsp;&nbsp; 3265507 |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 12/01/2047 | &nbsp;&nbsp; 5.875% | 4600000 | &nbsp;&nbsp; 4708774 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2018A (AGM) | Series 2018A (AGM) | Series 2018A (AGM) | Series 2018A (AGM) |
| 12/01/2034 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 519059 |
| Series 2022B | Series 2022B | Series 2022B | Series 2022B |
| 12/01/2037 | &nbsp;&nbsp; 4.000% | 8000000 | &nbsp;&nbsp; 7712863 |
| Chicago O'Hare International Airport<sup>(d)</sup>  | Chicago O'Hare International Airport<sup>(d)</sup>  | Chicago O'Hare International Airport<sup>(d)</sup>  | Chicago O'Hare International Airport<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2017G | Series 2017G | Series 2017G | Series 2017G |
| 01/01/2047 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1000331 |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 01/01/2048 | &nbsp;&nbsp; 4.500% | 3000000 | &nbsp;&nbsp; 2856330 |
| 01/01/2055 | &nbsp;&nbsp; 5.000% | 7985000 | &nbsp;&nbsp; 7906130 |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 01/01/2053 | &nbsp;&nbsp; 5.500% | 3000000 | &nbsp;&nbsp; 3123783 |
| TriPs Obligated Group | TriPs Obligated Group | TriPs Obligated Group | TriPs Obligated Group |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2048 | &nbsp;&nbsp; 5.000% | 800000 | &nbsp;&nbsp; 799053 |
| Illinois Finance Authority | Illinois Finance Authority | Illinois Finance Authority | Illinois Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| LEARN Charter School Project Social Bonds | LEARN Charter School Project Social Bonds | LEARN Charter School Project Social Bonds | LEARN Charter School Project Social Bonds |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 11/01/2051 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 842711 |
| Illinois Finance Authority<sup>(c)</sup>  | Illinois Finance Authority<sup>(c)</sup>  | Illinois Finance Authority<sup>(c)</sup>  | Illinois Finance Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Rosalind Franklin University Woodlands Apartment Project | Rosalind Franklin University Woodlands Apartment Project | Rosalind Franklin University Woodlands Apartment Project | Rosalind Franklin University Woodlands Apartment Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 08/01/2035 | &nbsp;&nbsp; 5.250% | 3000000 | &nbsp;&nbsp; 3159106 |
| Illinois Housing Development Authority | Illinois Housing Development Authority | Illinois Housing Development Authority | Illinois Housing Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Social Bonds | Social Bonds | Social Bonds | Social Bonds |
| Series 2023H | Series 2023H | Series 2023H | Series 2023H |
| 10/01/2043 | &nbsp;&nbsp; 4.650% | 7500000 | &nbsp;&nbsp; 7655088 |
| Metropolitan Pier & Exposition Authority<sup>(e)</sup>  | Metropolitan Pier & Exposition Authority<sup>(e)</sup>  | Metropolitan Pier & Exposition Authority<sup>(e)</sup>  | Metropolitan Pier & Exposition Authority<sup>(e)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| McCormick Place Expansion | McCormick Place Expansion | McCormick Place Expansion | McCormick Place Expansion |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/15/2035 | &nbsp;&nbsp; 0.000% | 1200000 | &nbsp;&nbsp; 848976 |
| 12/15/2036 | &nbsp;&nbsp; 0.000% | 2500000 | &nbsp;&nbsp; 1684765 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Capital Appreciation - McCormick Place Expansion Project | Capital Appreciation - McCormick Place Expansion Project | Capital Appreciation - McCormick Place Expansion Project | Capital Appreciation - McCormick Place Expansion Project |
| Series 2002A (AGM) | Series 2002A (AGM) | Series 2002A (AGM) | Series 2002A (AGM) |
| 12/15/2040 | &nbsp;&nbsp; 0.000% | 10000000 | &nbsp;&nbsp; 5544482 |
| Metropolitan Pier & Exposition Authority | Metropolitan Pier & Exposition Authority | Metropolitan Pier & Exposition Authority | Metropolitan Pier & Exposition Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| McCormick Place Expansion | McCormick Place Expansion | McCormick Place Expansion | McCormick Place Expansion |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/15/2047 | &nbsp;&nbsp; 4.000% | 5400000 | &nbsp;&nbsp; 4745498 |
| State of Illinois | State of Illinois | State of Illinois | State of Illinois |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 12/01/2036 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5140397 |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 05/01/2033 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5226116 |
| 05/01/2039 | &nbsp;&nbsp; 5.000% | 4320000 | &nbsp;&nbsp; 4441641 |
| 05/01/2040 | &nbsp;&nbsp; 5.000% | 5005000 | &nbsp;&nbsp; 5132785 |
| 05/01/2041 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 6137644 |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 05/01/2039 | &nbsp;&nbsp; 5.500% | 2700000 | &nbsp;&nbsp; 2902381 |
| Series 2020C | Series 2020C | Series 2020C | Series 2020C |
| 10/01/2042 | &nbsp;&nbsp; 4.000% | 3935000 | &nbsp;&nbsp; 3754697 |
| Series 2021B | Series 2021B | Series 2021B | Series 2021B |
| 12/01/2038 | &nbsp;&nbsp; 4.000% | 3970000 | &nbsp;&nbsp; 3939354 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 03/01/2042 | &nbsp;&nbsp; 5.500% | 12700000 | &nbsp;&nbsp; 13757907 |
| 03/01/2047 | &nbsp;&nbsp; 5.500% | 3300000 | &nbsp;&nbsp; 3463849 |
| Series 2023B | Series 2023B | Series 2023B | Series 2023B |
| 05/01/2047 | &nbsp;&nbsp; 5.500% | 1750000 | &nbsp;&nbsp; 1838085 |
| 05/01/2048 | &nbsp;&nbsp; 4.500% | 400000 | &nbsp;&nbsp; 380456 |
| Series 2024B | Series 2024B | Series 2024B | Series 2024B |
| 05/01/2049 | &nbsp;&nbsp; 5.250% | 875000 | &nbsp;&nbsp; 903912 |
| Series 2024C | Series 2024C | Series 2024C | Series 2024C |
| 10/01/2048 | &nbsp;&nbsp; 4.000% | 3000000 | &nbsp;&nbsp; 2629526 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **130437720** |
| **Indiana 0.4%** | **Indiana 0.4%** | **Indiana 0.4%** | **Indiana 0.4%** |
| City of Valparaiso<sup>(c),(d)</sup>  | City of Valparaiso<sup>(c),(d)</sup>  | City of Valparaiso<sup>(c),(d)</sup>  | City of Valparaiso<sup>(c),(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Pratt Paper (IN) LLC Project | Pratt Paper (IN) LLC Project | Pratt Paper (IN) LLC Project | Pratt Paper (IN) LLC Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 01/01/2044 | &nbsp;&nbsp; 4.875% | 1000000 | &nbsp;&nbsp; 1017379 |
| 01/01/2054 | &nbsp;&nbsp; 5.000% | 750000 | &nbsp;&nbsp; 736007 |
| Indiana Housing & Community Development Authority | Indiana Housing & Community Development Authority | Indiana Housing & Community Development Authority | Indiana Housing & Community Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Bonds | Sustainable Bonds | Sustainable Bonds | Sustainable Bonds |
| Series 2024A-1 (GNMA) | Series 2024A-1 (GNMA) | Series 2024A-1 (GNMA) | Series 2024A-1 (GNMA) |
| 07/01/2049 | &nbsp;&nbsp; 4.650% | 4150000 | &nbsp;&nbsp; 4155132 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **5908518** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Iowa 1.2%** | **Iowa 1.2%** | **Iowa 1.2%** | **Iowa 1.2%** |
| Iowa Finance Authority | Iowa Finance Authority | Iowa Finance Authority | Iowa Finance Authority |
| Prerefunded 12/01/32 Revenue Bonds | Prerefunded 12/01/32 Revenue Bonds | Prerefunded 12/01/32 Revenue Bonds | Prerefunded 12/01/32 Revenue Bonds |
| Iowa Fertilizer Co. Project | Iowa Fertilizer Co. Project | Iowa Fertilizer Co. Project | Iowa Fertilizer Co. Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2050 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5806493 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 05/15/2046 | &nbsp;&nbsp; 4.000% | 8895000 | &nbsp;&nbsp; 7554095 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. | Lifespace Communities, Inc. |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 05/15/2043 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5000234 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18360822** |
| **Kentucky 0.6%** | **Kentucky 0.6%** | **Kentucky 0.6%** | **Kentucky 0.6%** |
| Kentucky Public Energy Authority | Kentucky Public Energy Authority | Kentucky Public Energy Authority | Kentucky Public Energy Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023A-1 (Mandatory Put 02/01/32) | Series 2023A-1 (Mandatory Put 02/01/32) | Series 2023A-1 (Mandatory Put 02/01/32) | Series 2023A-1 (Mandatory Put 02/01/32) |
| 04/01/2054 | &nbsp;&nbsp; 5.250% | 8500000 | &nbsp;&nbsp; 9186385 |
| **Louisiana 1.0%** | **Louisiana 1.0%** | **Louisiana 1.0%** | **Louisiana 1.0%** |
| Louisiana Public Facilities Authority<sup>(c)</sup>  | Louisiana Public Facilities Authority<sup>(c)</sup>  | Louisiana Public Facilities Authority<sup>(c)</sup>  | Louisiana Public Facilities Authority<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Lake Charles Charter Academy | Lake Charles Charter Academy | Lake Charles Charter Academy | Lake Charles Charter Academy |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/15/2043 | &nbsp;&nbsp; 5.000% | 2350000 | &nbsp;&nbsp; 2278811 |
| Louisiana Public Facilities Authority<sup>(d)</sup>  | Louisiana Public Facilities Authority<sup>(d)</sup>  | Louisiana Public Facilities Authority<sup>(d)</sup>  | Louisiana Public Facilities Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| I-10 Calcasieu River Bridge Project | I-10 Calcasieu River Bridge Project | I-10 Calcasieu River Bridge Project | I-10 Calcasieu River Bridge Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 09/01/2059 | &nbsp;&nbsp; 5.500% | 6000000 | &nbsp;&nbsp; 6079686 |
| I-10 Calcasieu River Bridge Public-Private Partnership Project | I-10 Calcasieu River Bridge Public-Private Partnership Project | I-10 Calcasieu River Bridge Public-Private Partnership Project | I-10 Calcasieu River Bridge Public-Private Partnership Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 09/01/2066 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 5648930 |
| Parish of St. James<sup>(c)</sup>  | Parish of St. James<sup>(c)</sup>  | Parish of St. James<sup>(c)</sup>  | Parish of St. James<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| NuStar Logistics LP Project | NuStar Logistics LP Project | NuStar Logistics LP Project | NuStar Logistics LP Project |
| Series 2020-2 | Series 2020-2 | Series 2020-2 | Series 2020-2 |
| 07/01/2040 | &nbsp;&nbsp; 6.350% | 1250000 | &nbsp;&nbsp; 1374689 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15382116** |
| **Maryland 1.1%** | **Maryland 1.1%** | **Maryland 1.1%** | **Maryland 1.1%** |
| Maryland Community Development Administration | Maryland Community Development Administration | Maryland Community Development Administration | Maryland Community Development Administration |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2019B | Series 2019B | Series 2019B | Series 2019B |
| 09/01/2039 | &nbsp;&nbsp; 3.200% | 7475000 | &nbsp;&nbsp; 6959299 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019C | Series 2019C | Series 2019C | Series 2019C |
| 09/01/2039 | &nbsp;&nbsp; 3.000% | 7500000 | &nbsp;&nbsp; 6864457 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Maryland Economic Development Corp. | Maryland Economic Development Corp. | Maryland Economic Development Corp. | Maryland Economic Development Corp. |
| Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds |
| Port Covington Project | Port Covington Project | Port Covington Project | Port Covington Project |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 09/01/2040 | &nbsp;&nbsp; 4.000% | 875000 | &nbsp;&nbsp; 814087 |
| Maryland Health & Higher Educational Facilities Authority | Maryland Health & Higher Educational Facilities Authority | Maryland Health & Higher Educational Facilities Authority | Maryland Health & Higher Educational Facilities Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| University of Maryland Medical System | University of Maryland Medical System | University of Maryland Medical System | University of Maryland Medical System |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2048 | &nbsp;&nbsp; 4.000% | 3665000 | &nbsp;&nbsp; 3282075 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **17919918** |
| **Massachusetts 0.7%** | **Massachusetts 0.7%** | **Massachusetts 0.7%** | **Massachusetts 0.7%** |
| Massachusetts Development Finance Agency | Massachusetts Development Finance Agency | Massachusetts Development Finance Agency | Massachusetts Development Finance Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| UMass Memorial Healthcare | UMass Memorial Healthcare | UMass Memorial Healthcare | UMass Memorial Healthcare |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2044 | &nbsp;&nbsp; 4.000% | 7500000 | &nbsp;&nbsp; 6838988 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Tufts University Student Housing Project | Tufts University Student Housing Project | Tufts University Student Housing Project | Tufts University Student Housing Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/01/2050 | &nbsp;&nbsp; 5.500% | 750000 | &nbsp;&nbsp; 800125 |
| Massachusetts Educational Financing Authority<sup>(d)</sup>  | Massachusetts Educational Financing Authority<sup>(d)</sup>  | Massachusetts Educational Financing Authority<sup>(d)</sup>  | Massachusetts Educational Financing Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Issue K | Issue K | Issue K | Issue K |
| Subordinated Series 2017B | Subordinated Series 2017B | Subordinated Series 2017B | Subordinated Series 2017B |
| 07/01/2046 | &nbsp;&nbsp; 4.250% | 2755000 | &nbsp;&nbsp; 2459641 |
| Massachusetts Port Authority<sup>(d)</sup>  | Massachusetts Port Authority<sup>(d)</sup>  | Massachusetts Port Authority<sup>(d)</sup>  | Massachusetts Port Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| BosFuel Project | BosFuel Project | BosFuel Project | BosFuel Project |
| Series 2019A | Series 2019A | Series 2019A | Series 2019A |
| 07/01/2044 | &nbsp;&nbsp; 4.000% | 1500000 | &nbsp;&nbsp; 1417316 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11516070** |
| **Michigan 3.9%** | **Michigan 3.9%** | **Michigan 3.9%** | **Michigan 3.9%** |
| Grand Rapids Economic Development Corp. | Grand Rapids Economic Development Corp. | Grand Rapids Economic Development Corp. | Grand Rapids Economic Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Beacon Hill at Eastgate Project | Beacon Hill at Eastgate Project | Beacon Hill at Eastgate Project | Beacon Hill at Eastgate Project |
| Series 2025T | Series 2025T | Series 2025T | Series 2025T |
| 11/01/2030 | &nbsp;&nbsp; 4.750% | 4375000 | &nbsp;&nbsp; 4386295 |
| Michigan State Housing Development Authority | Michigan State Housing Development Authority | Michigan State Housing Development Authority | Michigan State Housing Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 10/01/2043 | &nbsp;&nbsp; 4.000% | 2300000 | &nbsp;&nbsp; 2210355 |
| Series 2019A-1 | Series 2019A-1 | Series 2019A-1 | Series 2019A-1 |
| 10/01/2044 | &nbsp;&nbsp; 3.250% | 1500000 | &nbsp;&nbsp; 1298438 |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 12/01/2044 | &nbsp;&nbsp; 4.500% | 1225000 | &nbsp;&nbsp; 1232574 |
| 12/01/2049 | &nbsp;&nbsp; 4.650% | 1100000 | &nbsp;&nbsp; 1101581 |
| 12/01/2053 | &nbsp;&nbsp; 4.700% | 1610000 | &nbsp;&nbsp; 1589712 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Social Bond | Social Bond | Social Bond | Social Bond |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 06/01/2043 | &nbsp;&nbsp; 4.100% | 4210000 | &nbsp;&nbsp; 4183067 |
| Social Bonds | Social Bonds | Social Bonds | Social Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 12/01/2048 | &nbsp;&nbsp; 4.900% | 6000000 | &nbsp;&nbsp; 6013214 |
| U.S. Department of Housing and Urban Development | U.S. Department of Housing and Urban Development | U.S. Department of Housing and Urban Development | U.S. Department of Housing and Urban Development |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 10/01/2042 | &nbsp;&nbsp; 3.750% | 4060000 | &nbsp;&nbsp; 3906104 |
| 10/01/2047 | &nbsp;&nbsp; 3.850% | 4155000 | &nbsp;&nbsp; 3664599 |
| Michigan Strategic Fund<sup>(d)</sup>  | Michigan Strategic Fund<sup>(d)</sup>  | Michigan Strategic Fund<sup>(d)</sup>  | Michigan Strategic Fund<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| I-75 Improvement Project | I-75 Improvement Project | I-75 Improvement Project | I-75 Improvement Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/31/2043 | &nbsp;&nbsp; 5.000% | 10500000 | &nbsp;&nbsp; 10546661 |
| State of Michigan | State of Michigan | State of Michigan | State of Michigan |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 11/15/2049 | &nbsp;&nbsp; 5.250% | 10000000 | &nbsp;&nbsp; 10622686 |
| State of Michigan Trunk Line | State of Michigan Trunk Line | State of Michigan Trunk Line | State of Michigan Trunk Line |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program | Rebuilding Michigan Program |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 11/15/2049 | &nbsp;&nbsp; 5.500% | 10000000 | &nbsp;&nbsp; 10786597 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **61541883** |
| **Minnesota 0.8%** | **Minnesota 0.8%** | **Minnesota 0.8%** | **Minnesota 0.8%** |
| City of Forest Lake | City of Forest Lake | City of Forest Lake | City of Forest Lake |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Lakes International Language Academy | Lakes International Language Academy | Lakes International Language Academy | Lakes International Language Academy |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 08/01/2036 | &nbsp;&nbsp; 5.000% | 835000 | &nbsp;&nbsp; 850368 |
| City of North Oaks | City of North Oaks | City of North Oaks | City of North Oaks |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Waverly Gardens Project | Waverly Gardens Project | Waverly Gardens Project | Waverly Gardens Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 10/01/2047 | &nbsp;&nbsp; 5.000% | 4000000 | &nbsp;&nbsp; 3870963 |
| City of Woodbury | City of Woodbury | City of Woodbury | City of Woodbury |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Woodbury Leadership Academy Project | Woodbury Leadership Academy Project | Woodbury Leadership Academy Project | Woodbury Leadership Academy Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2065 | &nbsp;&nbsp; 6.000% | 1825000 | &nbsp;&nbsp; 1806518 |
| Hastings Independent School District No. 200<sup>(e)</sup>  | Hastings Independent School District No. 200<sup>(e)</sup>  | Hastings Independent School District No. 200<sup>(e)</sup>  | Hastings Independent School District No. 200<sup>(e)</sup>  |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building | Student Credit Enhancement Program School Building |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 02/01/2031 | &nbsp;&nbsp; 0.000% | 2340000 | &nbsp;&nbsp; 1973156 |
| 02/01/2034 | &nbsp;&nbsp; 0.000% | 1565000 | &nbsp;&nbsp; 1171114 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Minneapolis-St. Paul Metropolitan Airports Commission<sup>(d)</sup>  | Minneapolis-St. Paul Metropolitan Airports Commission<sup>(d)</sup>  | Minneapolis-St. Paul Metropolitan Airports Commission<sup>(d)</sup>  | Minneapolis-St. Paul Metropolitan Airports Commission<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Subordinated Series 2016D | Subordinated Series 2016D | Subordinated Series 2016D | Subordinated Series 2016D |
| 01/01/2041 | &nbsp;&nbsp; 5.000% | 750000 | &nbsp;&nbsp; 756080 |
| St. Cloud Housing & Redevelopment Authority<sup>(g)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(g)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(g)</sup>  | St. Cloud Housing & Redevelopment Authority<sup>(g)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sanctuary St. Cloud Project | Sanctuary St. Cloud Project | Sanctuary St. Cloud Project | Sanctuary St. Cloud Project |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 08/01/2036 | &nbsp;&nbsp; 4.000% | 2825000 | &nbsp;&nbsp; 2221271 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **12649470** |
| **Missouri 0.8%** | **Missouri 0.8%** | **Missouri 0.8%** | **Missouri 0.8%** |
| Health & Educational Facilities Authority | Health & Educational Facilities Authority | Health & Educational Facilities Authority | Health & Educational Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Mosaic Health System | Mosaic Health System | Mosaic Health System | Mosaic Health System |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 02/15/2044 | &nbsp;&nbsp; 4.000% | 2000000 | &nbsp;&nbsp; 1865665 |
| Kirkwood Industrial Development Authority | Kirkwood Industrial Development Authority | Kirkwood Industrial Development Authority | Kirkwood Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Aberdeen Heights Project | Aberdeen Heights Project | Aberdeen Heights Project | Aberdeen Heights Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 05/15/2042 | &nbsp;&nbsp; 5.250% | 1260000 | &nbsp;&nbsp; 1245710 |
| Missouri Housing Development Commission | Missouri Housing Development Commission | Missouri Housing Development Commission | Missouri Housing Development Commission |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| First Place Homeownership Loan | First Place Homeownership Loan | First Place Homeownership Loan | First Place Homeownership Loan |
| Series 2024 (GNMA) | Series 2024 (GNMA) | Series 2024 (GNMA) | Series 2024 (GNMA) |
| 11/01/2049 | &nbsp;&nbsp; 4.600% | 750000 | &nbsp;&nbsp; 746156 |
| First Place Homeownership Loan Program | First Place Homeownership Loan Program | First Place Homeownership Loan Program | First Place Homeownership Loan Program |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2054 | &nbsp;&nbsp; 4.700% | 5000 | &nbsp;&nbsp; 4950 |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 11/01/2055 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1003446 |
| Missouri Joint Municipal Electric Utility Commission | Missouri Joint Municipal Electric Utility Commission | Missouri Joint Municipal Electric Utility Commission | Missouri Joint Municipal Electric Utility Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 12/01/2041 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4999814 |
| St. Louis County Industrial Development Authority | St. Louis County Industrial Development Authority | St. Louis County Industrial Development Authority | St. Louis County Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| St. Andrew's Resources for Seniors Obligated Group | St. Andrew's Resources for Seniors Obligated Group | St. Andrew's Resources for Seniors Obligated Group | St. Andrew's Resources for Seniors Obligated Group |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 12/01/2035 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1500510 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Friendship Village Sunset Hills | Friendship Village Sunset Hills | Friendship Village Sunset Hills | Friendship Village Sunset Hills |
| Series 2012 | Series 2012 | Series 2012 | Series 2012 |
| 09/01/2042 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2000203 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **13366454** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Montana 0.0%** | **Montana 0.0%** | **Montana 0.0%** | **Montana 0.0%** |
| Montana Board of Housing | Montana Board of Housing | Montana Board of Housing | Montana Board of Housing |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017B-2 | Series 2017B-2 | Series 2017B-2 | Series 2017B-2 |
| 12/01/2042 | &nbsp;&nbsp; 3.500% | 315000 | &nbsp;&nbsp; 293154 |
| 12/01/2047 | &nbsp;&nbsp; 3.600% | 410000 | &nbsp;&nbsp; 357258 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **650412** |
| **Nebraska 1.3%** | **Nebraska 1.3%** | **Nebraska 1.3%** | **Nebraska 1.3%** |
| Central Plains Energy Project<sup>(b)</sup>  | Central Plains Energy Project<sup>(b)</sup>  | Central Plains Energy Project<sup>(b)</sup>  | Central Plains Energy Project<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Subordinated Series 2025A-1 (Mandatory Put 08/01/31) | Subordinated Series 2025A-1 (Mandatory Put 08/01/31) | Subordinated Series 2025A-1 (Mandatory Put 08/01/31) | Subordinated Series 2025A-1 (Mandatory Put 08/01/31) |
| 08/01/2055 | &nbsp;&nbsp; 5.000% | 6000000 | &nbsp;&nbsp; 6445336 |
| Douglas County Hospital Authority No. 3 | Douglas County Hospital Authority No. 3 | Douglas County Hospital Authority No. 3 | Douglas County Hospital Authority No. 3 |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Health Facilities | Health Facilities | Health Facilities | Health Facilities |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 11/01/2036 | &nbsp;&nbsp; 4.125% | 1045000 | &nbsp;&nbsp; 1045236 |
| Nebraska Educational Health Cultural & Social Services Finance Authority | Nebraska Educational Health Cultural & Social Services Finance Authority | Nebraska Educational Health Cultural & Social Services Finance Authority | Nebraska Educational Health Cultural & Social Services Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Immanuel Obligated Group | Immanuel Obligated Group | Immanuel Obligated Group | Immanuel Obligated Group |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 01/01/2044 | &nbsp;&nbsp; 4.000% | 10000000 | &nbsp;&nbsp; 9362149 |
| Nebraska Investment Finance Authority | Nebraska Investment Finance Authority | Nebraska Investment Finance Authority | Nebraska Investment Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019D | Series 2019D | Series 2019D | Series 2019D |
| 09/01/2039 | &nbsp;&nbsp; 2.850% | 3090000 | &nbsp;&nbsp; 2727000 |
| 09/01/2042 | &nbsp;&nbsp; 3.050% | 375000 | &nbsp;&nbsp; 326943 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **19906664** |
| **Nevada 0.3%** | **Nevada 0.3%** | **Nevada 0.3%** | **Nevada 0.3%** |
| State of Nevada Department of Business & Industry<sup>(c)</sup>  | State of Nevada Department of Business & Industry<sup>(c)</sup>  | State of Nevada Department of Business & Industry<sup>(c)</sup>  | State of Nevada Department of Business & Industry<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Somerset Academy | Somerset Academy | Somerset Academy | Somerset Academy |
| Series 2015A | Series 2015A | Series 2015A | Series 2015A |
| 12/15/2035 | &nbsp;&nbsp; 5.000% | 570000 | &nbsp;&nbsp; 570148 |
| 12/15/2045 | &nbsp;&nbsp; 5.125% | 1255000 | &nbsp;&nbsp; 1210895 |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 12/15/2038 | &nbsp;&nbsp; 5.000% | 415000 | &nbsp;&nbsp; 415047 |
| 12/15/2048 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 1860216 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **4056306** |
| **New Hampshire 1.0%** | **New Hampshire 1.0%** | **New Hampshire 1.0%** | **New Hampshire 1.0%** |
| New Hampshire Business Finance Authority<sup>(b),(d)</sup>  | New Hampshire Business Finance Authority<sup>(b),(d)</sup>  | New Hampshire Business Finance Authority<sup>(b),(d)</sup>  | New Hampshire Business Finance Authority<sup>(b),(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Waste Management, Inc. Project | Waste Management, Inc. Project | Waste Management, Inc. Project | Waste Management, Inc. Project |
| Series 2019A-3 (Mandatory Put 07/01/26) | Series 2019A-3 (Mandatory Put 07/01/26) | Series 2019A-3 (Mandatory Put 07/01/26) | Series 2019A-3 (Mandatory Put 07/01/26) |
| 07/01/2033 | &nbsp;&nbsp; 4.000% | 2955000 | &nbsp;&nbsp; 2958225 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| New Hampshire Business Finance Authority<sup>(c)</sup>  | New Hampshire Business Finance Authority<sup>(c)</sup>  | New Hampshire Business Finance Authority<sup>(c)</sup>  | New Hampshire Business Finance Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Grand Prairie Project | Grand Prairie Project | Grand Prairie Project | Grand Prairie Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/15/2032 | &nbsp;&nbsp; 5.875% | 2800000 | &nbsp;&nbsp; 2800649 |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/15/2033 | &nbsp;&nbsp; 5.875% | 2800000 | &nbsp;&nbsp; 2800793 |
| Silverado Project | Silverado Project | Silverado Project | Silverado Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/01/2028 | &nbsp;&nbsp; 5.000% | 400000 | &nbsp;&nbsp; 400048 |
| Tamarron Project | Tamarron Project | Tamarron Project | Tamarron Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/01/2035 | &nbsp;&nbsp; 5.250% | 4200000 | &nbsp;&nbsp; 4199656 |
| New Hampshire Business Finance Authority | New Hampshire Business Finance Authority | New Hampshire Business Finance Authority | New Hampshire Business Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Highlands Project (The) | Highlands Project (The) | Highlands Project (The) | Highlands Project (The) |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/15/2030 | &nbsp;&nbsp; 5.125% | 520000 | &nbsp;&nbsp; 520794 |
| New Hampshire Business Finance Authority<sup>(c),(e)</sup>  | New Hampshire Business Finance Authority<sup>(c),(e)</sup>  | New Hampshire Business Finance Authority<sup>(c),(e)</sup>  | New Hampshire Business Finance Authority<sup>(c),(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| The Wildflower Project | The Wildflower Project | The Wildflower Project | The Wildflower Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/15/2033 | &nbsp;&nbsp; 0.000% | 3000000 | &nbsp;&nbsp; 1812167 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15492332** |
| **New Jersey 5.0%** | **New Jersey 5.0%** | **New Jersey 5.0%** | **New Jersey 5.0%** |
| City of Newark Mass Transit Access Tax | City of Newark Mass Transit Access Tax | City of Newark Mass Transit Access Tax | City of Newark Mass Transit Access Tax |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Mulberry Pedestrian Bridge Redevelopment Project | Mulberry Pedestrian Bridge Redevelopment Project | Mulberry Pedestrian Bridge Redevelopment Project | Mulberry Pedestrian Bridge Redevelopment Project |
| Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) | Series 2022 (AGM) |
| 11/15/2062 | &nbsp;&nbsp; 6.000% | 2000000 | &nbsp;&nbsp; 2204488 |
| New Jersey Economic Development Authority<sup>(d)</sup>  | New Jersey Economic Development Authority<sup>(d)</sup>  | New Jersey Economic Development Authority<sup>(d)</sup>  | New Jersey Economic Development Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| New Jersey Natural Gas Co. Project | New Jersey Natural Gas Co. Project | New Jersey Natural Gas Co. Project | New Jersey Natural Gas Co. Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 08/01/2041 | &nbsp;&nbsp; 3.000% | 6000000 | &nbsp;&nbsp; 5140291 |
| New Jersey Economic Development Authority | New Jersey Economic Development Authority | New Jersey Economic Development Authority | New Jersey Economic Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Portal North Bridge Project | Portal North Bridge Project | Portal North Bridge Project | Portal North Bridge Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2052 | &nbsp;&nbsp; 5.000% | 16250000 | &nbsp;&nbsp; 16718700 |
| New Jersey Economic Development Authority<sup>(c),(d)</sup>  | New Jersey Economic Development Authority<sup>(c),(d)</sup>  | New Jersey Economic Development Authority<sup>(c),(d)</sup>  | New Jersey Economic Development Authority<sup>(c),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Repauno Port & Rail Terminal Project | Repauno Port & Rail Terminal Project | Repauno Port & Rail Terminal Project | Repauno Port & Rail Terminal Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 01/01/2035 | &nbsp;&nbsp; 6.375% | 1500000 | &nbsp;&nbsp; 1564014 |
| 01/01/2045 | &nbsp;&nbsp; 6.625% | 1500000 | &nbsp;&nbsp; 1556732 |
| New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  | New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  | New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  | New Jersey Higher Education Student Assistance Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2025-1B | Series 2025-1B | Series 2025-1B | Series 2025-1B |
| 12/01/2035 | &nbsp;&nbsp; 5.000% | 3500000 | &nbsp;&nbsp; 3809990 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 12/01/2034 | &nbsp;&nbsp; 4.000% | 60000 | &nbsp;&nbsp; 60018 |
| 12/01/2035 | &nbsp;&nbsp; 4.000% | 55000 | &nbsp;&nbsp; 55007 |
| New Jersey Housing & Mortgage Finance Agency<sup>(d)</sup>  | New Jersey Housing & Mortgage Finance Agency<sup>(d)</sup>  | New Jersey Housing & Mortgage Finance Agency<sup>(d)</sup>  | New Jersey Housing & Mortgage Finance Agency<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017D | Series 2017D | Series 2017D | Series 2017D |
| 11/01/2037 | &nbsp;&nbsp; 4.250% | 1525000 | &nbsp;&nbsp; 1526080 |
| Single Family Housing | Single Family Housing | Single Family Housing | Single Family Housing |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 10/01/2032 | &nbsp;&nbsp; 3.800% | 1925000 | &nbsp;&nbsp; 1930133 |
| New Jersey Housing & Mortgage Finance Agency | New Jersey Housing & Mortgage Finance Agency | New Jersey Housing & Mortgage Finance Agency | New Jersey Housing & Mortgage Finance Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Single Family Housing | Single Family Housing | Single Family Housing | Single Family Housing |
| Series 2019C | Series 2019C | Series 2019C | Series 2019C |
| 10/01/2039 | &nbsp;&nbsp; 3.850% | 2885000 | &nbsp;&nbsp; 2894906 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025M | Series 2025M | Series 2025M | Series 2025M |
| 04/01/2056 | &nbsp;&nbsp; 6.500% | 2250000 | &nbsp;&nbsp; 2545602 |
| New Jersey Transportation Trust Fund Authority | New Jersey Transportation Trust Fund Authority | New Jersey Transportation Trust Fund Authority | New Jersey Transportation Trust Fund Authority |
| Prerefunded 12/15/32 Revenue Bonds | Prerefunded 12/15/32 Revenue Bonds | Prerefunded 12/15/32 Revenue Bonds | Prerefunded 12/15/32 Revenue Bonds |
| Transportation Program | Transportation Program | Transportation Program | Transportation Program |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/15/2048 | &nbsp;&nbsp; 5.000% | 3750000 | &nbsp;&nbsp; 4373544 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Transportation Program | Transportation Program | Transportation Program | Transportation Program |
| Series 2015AA | Series 2015AA | Series 2015AA | Series 2015AA |
| 06/15/2041 | &nbsp;&nbsp; 5.250% | 6000000 | &nbsp;&nbsp; 6005495 |
| Series 2023BB | Series 2023BB | Series 2023BB | Series 2023BB |
| 06/15/2046 | &nbsp;&nbsp; 5.000% | 5255000 | &nbsp;&nbsp; 5498579 |
| Series 2025AA | Series 2025AA | Series 2025AA | Series 2025AA |
| 06/15/2050 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2587042 |
| 06/15/2050 | &nbsp;&nbsp; 5.250% | 2750000 | &nbsp;&nbsp; 2922564 |
| Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds | Unrefunded Revenue Bonds |
| Transportation Program | Transportation Program | Transportation Program | Transportation Program |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/15/2046 | &nbsp;&nbsp; 5.000% | 2270000 | &nbsp;&nbsp; 2316978 |
| New Jersey Turnpike Authority | New Jersey Turnpike Authority | New Jersey Turnpike Authority | New Jersey Turnpike Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2022B | Series 2022B | Series 2022B | Series 2022B |
| 01/01/2048 | &nbsp;&nbsp; 4.500% | 3000000 | &nbsp;&nbsp; 3022983 |
| 01/01/2052 | &nbsp;&nbsp; 5.250% | 6250000 | &nbsp;&nbsp; 6560953 |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 01/01/2044 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2738733 |
| South Jersey Port Corp.<sup>(d)</sup>  | South Jersey Port Corp.<sup>(d)</sup>  | South Jersey Port Corp.<sup>(d)</sup>  | South Jersey Port Corp.<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Marine Terminal | Marine Terminal | Marine Terminal | Marine Terminal |
| Subordinated Series 2017B | Subordinated Series 2017B | Subordinated Series 2017B | Subordinated Series 2017B |
| 01/01/2048 | &nbsp;&nbsp; 5.000% | 2900000 | &nbsp;&nbsp; 2903608 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **78936440** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **New Mexico 0.1%** | **New Mexico 0.1%** | **New Mexico 0.1%** | **New Mexico 0.1%** |
| New Mexico Mortgage Finance Authority | New Mexico Mortgage Finance Authority | New Mexico Mortgage Finance Authority | New Mexico Mortgage Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2020 (GNMA) | Series 2020 (GNMA) | Series 2020 (GNMA) | Series 2020 (GNMA) |
| 07/01/2040 | &nbsp;&nbsp; 2.700% | 2010000 | &nbsp;&nbsp; 1685106 |
| **New York 10.6%** | **New York 10.6%** | **New York 10.6%** | **New York 10.6%** |
| Build NYC Resource Corp.<sup>(c)</sup>  | Build NYC Resource Corp.<sup>(c)</sup>  | Build NYC Resource Corp.<sup>(c)</sup>  | Build NYC Resource Corp.<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Social Bonds - East Harlem Scholars Academy Charter School Project | Social Bonds - East Harlem Scholars Academy Charter School Project | Social Bonds - East Harlem Scholars Academy Charter School Project | Social Bonds - East Harlem Scholars Academy Charter School Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/01/2052 | &nbsp;&nbsp; 5.750% | 1000000 | &nbsp;&nbsp; 1000285 |
| Build Resource Corp.<sup>(d)</sup>  | Build Resource Corp.<sup>(d)</sup>  | Build Resource Corp.<sup>(d)</sup>  | Build Resource Corp.<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Airport Facilities | Airport Facilities | Airport Facilities | Airport Facilities |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2050 | &nbsp;&nbsp; 5.500% | 1750000 | &nbsp;&nbsp; 1816614 |
| 07/01/2055 | &nbsp;&nbsp; 5.500% | 1250000 | &nbsp;&nbsp; 1287411 |
| City of New York | City of New York | City of New York | City of New York |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022A-1 | Series 2022A-1 | Series 2022A-1 | Series 2022A-1 |
| 09/01/2046 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2317846 |
| Subordinated Series 2022B-1 | Subordinated Series 2022B-1 | Subordinated Series 2022B-1 | Subordinated Series 2022B-1 |
| 10/01/2047 | &nbsp;&nbsp; 5.250% | 2500000 | &nbsp;&nbsp; 2608727 |
| Subordinated Series 2023E-1 | Subordinated Series 2023E-1 | Subordinated Series 2023E-1 | Subordinated Series 2023E-1 |
| 04/01/2050 | &nbsp;&nbsp; 4.000% | 3900000 | &nbsp;&nbsp; 3535569 |
| Subordinated Series 2024C-1 | Subordinated Series 2024C-1 | Subordinated Series 2024C-1 | Subordinated Series 2024C-1 |
| 09/01/2052 | &nbsp;&nbsp; 4.000% | 7000000 | &nbsp;&nbsp; 6208442 |
| Housing Development Corp. | Housing Development Corp. | Housing Development Corp. | Housing Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood |
| Series 2017G | Series 2017G | Series 2017G | Series 2017G |
| 11/01/2042 | &nbsp;&nbsp; 3.600% | 4000000 | &nbsp;&nbsp; 3788505 |
| Huntington Local Development Corp. | Huntington Local Development Corp. | Huntington Local Development Corp. | Huntington Local Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fountaingate Garden Project | Fountaingate Garden Project | Fountaingate Garden Project | Fountaingate Garden Project |
| Series 2021A | Series 2021A | Series 2021A | Series 2021A |
| 07/01/2056 | &nbsp;&nbsp; 5.250% | 3000000 | &nbsp;&nbsp; 2436120 |
| Metropolitan Transportation Authority | Metropolitan Transportation Authority | Metropolitan Transportation Authority | Metropolitan Transportation Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Green Bonds | Green Bonds | Green Bonds | Green Bonds |
| Series 2020C-1 | Series 2020C-1 | Series 2020C-1 | Series 2020C-1 |
| 11/15/2050 | &nbsp;&nbsp; 5.000% | 10935000 | &nbsp;&nbsp; 11069833 |
| New York City Housing Development Corp. | New York City Housing Development Corp. | New York City Housing Development Corp. | New York City Housing Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood | Sustainable Neighborhood |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 11/01/2048 | &nbsp;&nbsp; 3.900% | 2000000 | &nbsp;&nbsp; 1775325 |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 11/01/2049 | &nbsp;&nbsp; 3.250% | 6235000 | &nbsp;&nbsp; 4834789 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| New York City Municipal Water Finance Authority | New York City Municipal Water Finance Authority | New York City Municipal Water Finance Authority | New York City Municipal Water Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fiscal 2025 | Fiscal 2025 | Fiscal 2025 | Fiscal 2025 |
| Series 2024AA | Series 2024AA | Series 2024AA | Series 2024AA |
| 06/15/2051 | &nbsp;&nbsp; 5.000% | 10000000 | &nbsp;&nbsp; 10330462 |
| Second General Resolution | Second General Resolution | Second General Resolution | Second General Resolution |
| Series 2025BB | Series 2025BB | Series 2025BB | Series 2025BB |
| 06/15/2055 | &nbsp;&nbsp; 5.250% | 2250000 | &nbsp;&nbsp; 2369955 |
| Subordinated Series 2021 | Subordinated Series 2021 | Subordinated Series 2021 | Subordinated Series 2021 |
| 06/15/2051 | &nbsp;&nbsp; 4.000% | 3940000 | &nbsp;&nbsp; 3578753 |
| New York City Transitional Finance Authority | New York City Transitional Finance Authority | New York City Transitional Finance Authority | New York City Transitional Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Fiscal 2025 | Fiscal 2025 | Fiscal 2025 | Fiscal 2025 |
| Subordinated Series 2024D | Subordinated Series 2024D | Subordinated Series 2024D | Subordinated Series 2024D |
| 05/01/2052 | &nbsp;&nbsp; 5.500% | 500000 | &nbsp;&nbsp; 532944 |
| Future Tax Secured | Future Tax Secured | Future Tax Secured | Future Tax Secured |
| Subordinated Series 2022A-1 | Subordinated Series 2022A-1 | Subordinated Series 2022A-1 | Subordinated Series 2022A-1 |
| 08/01/2048 | &nbsp;&nbsp; 4.000% | 2100000 | &nbsp;&nbsp; 1939841 |
| Subordinated Series 2023A | Subordinated Series 2023A | Subordinated Series 2023A | Subordinated Series 2023A |
| 05/01/2047 | &nbsp;&nbsp; 5.000% | 10000000 | &nbsp;&nbsp; 10345256 |
| Subordinated Series 2024C-S | Subordinated Series 2024C-S | Subordinated Series 2024C-S | Subordinated Series 2024C-S |
| 05/01/2051 | &nbsp;&nbsp; 4.000% | 3600000 | &nbsp;&nbsp; 3250025 |
| Subordinated Series 2025H | Subordinated Series 2025H | Subordinated Series 2025H | Subordinated Series 2025H |
| 11/01/2050 | &nbsp;&nbsp; 5.000% | 1500000 | &nbsp;&nbsp; 1543838 |
| 11/01/2052 | &nbsp;&nbsp; 4.500% | 3500000 | &nbsp;&nbsp; 3424383 |
| New York City Water & Sewer System | New York City Water & Sewer System | New York City Water & Sewer System | New York City Water & Sewer System |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| 2nd General Resolution | 2nd General Resolution | 2nd General Resolution | 2nd General Resolution |
| Subordinated Series 2020 | Subordinated Series 2020 | Subordinated Series 2020 | Subordinated Series 2020 |
| 06/15/2050 | &nbsp;&nbsp; 4.000% | 345000 | &nbsp;&nbsp; 315438 |
| New York State Dormitory Authority | New York State Dormitory Authority | New York State Dormitory Authority | New York State Dormitory Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Cornell University | Cornell University | Cornell University | Cornell University |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2050 | &nbsp;&nbsp; 4.000% | 6270000 | &nbsp;&nbsp; 5731539 |
| New York State Housing Finance Agency | New York State Housing Finance Agency | New York State Housing Finance Agency | New York State Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Affordable Housing | Affordable Housing | Affordable Housing | Affordable Housing |
| Series 2017M | Series 2017M | Series 2017M | Series 2017M |
| 11/01/2047 | &nbsp;&nbsp; 3.750% | 3585000 | &nbsp;&nbsp; 3113308 |
| New York State Thruway Authority | New York State Thruway Authority | New York State Thruway Authority | New York State Thruway Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Personal Income Tax - Bidding Group | Personal Income Tax - Bidding Group | Personal Income Tax - Bidding Group | Personal Income Tax - Bidding Group |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 03/15/2050 | &nbsp;&nbsp; 4.000% | 4000000 | &nbsp;&nbsp; 3696188 |
| New York State Urban Development Corp. | New York State Urban Development Corp. | New York State Urban Development Corp. | New York State Urban Development Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2020E-3 | Series 2020E-3 | Series 2020E-3 | Series 2020E-3 |
| 03/15/2043 | &nbsp;&nbsp; 4.000% | 4650000 | &nbsp;&nbsp; 4592613 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| New York Transportation Development Corp.<sup>(d)</sup>  | New York Transportation Development Corp.<sup>(d)</sup>  | New York Transportation Development Corp.<sup>(d)</sup>  | New York Transportation Development Corp.<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| JFK Airport Terminal 6 Redevelopment Project | JFK Airport Terminal 6 Redevelopment Project | JFK Airport Terminal 6 Redevelopment Project | JFK Airport Terminal 6 Redevelopment Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/31/2054 | &nbsp;&nbsp; 5.500% | 6250000 | &nbsp;&nbsp; 6344185 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Delta Air Lines, Inc. LaGuardia | Delta Air Lines, Inc. LaGuardia | Delta Air Lines, Inc. LaGuardia | Delta Air Lines, Inc. LaGuardia |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 10/01/2045 | &nbsp;&nbsp; 4.375% | 2500000 | &nbsp;&nbsp; 2364250 |
| John F. Kennedy International Airport New Terminal One Project | John F. Kennedy International Airport New Terminal One Project | John F. Kennedy International Airport New Terminal One Project | John F. Kennedy International Airport New Terminal One Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 06/30/2060 | &nbsp;&nbsp; 5.375% | 5350000 | &nbsp;&nbsp; 5316025 |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/30/2060 | &nbsp;&nbsp; 5.500% | 12475000 | &nbsp;&nbsp; 12629018 |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/30/2050 | &nbsp;&nbsp; 6.000% | 1500000 | &nbsp;&nbsp; 1598952 |
| LaGuardia Airport Terminal C&D | LaGuardia Airport Terminal C&D | LaGuardia Airport Terminal C&D | LaGuardia Airport Terminal C&D |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 04/01/2040 | &nbsp;&nbsp; 5.625% | 3750000 | &nbsp;&nbsp; 3981278 |
| Terminal 4 John F. Kennedy International Airport Project | Terminal 4 John F. Kennedy International Airport Project | Terminal 4 John F. Kennedy International Airport Project | Terminal 4 John F. Kennedy International Airport Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2042 | &nbsp;&nbsp; 4.000% | 4360000 | &nbsp;&nbsp; 4123955 |
| Port Authority of New York & New Jersey<sup>(d)</sup>  | Port Authority of New York & New Jersey<sup>(d)</sup>  | Port Authority of New York & New Jersey<sup>(d)</sup>  | Port Authority of New York & New Jersey<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2021-223 | Series 2021-223 | Series 2021-223 | Series 2021-223 |
| 07/15/2046 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4496802 |
| State of New York Mortgage Agency | State of New York Mortgage Agency | State of New York Mortgage Agency | State of New York Mortgage Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017-203 | Series 2017-203 | Series 2017-203 | Series 2017-203 |
| 10/01/2041 | &nbsp;&nbsp; 3.500% | 3730000 | &nbsp;&nbsp; 3529799 |
| Suffolk Regional Off-Track Betting Co. | Suffolk Regional Off-Track Betting Co. | Suffolk Regional Off-Track Betting Co. | Suffolk Regional Off-Track Betting Co. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 12/01/2053 | &nbsp;&nbsp; 6.000% | 7950000 | &nbsp;&nbsp; 8106146 |
| Triborough Bridge & Tunnel Authority | Triborough Bridge & Tunnel Authority | Triborough Bridge & Tunnel Authority | Triborough Bridge & Tunnel Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| MTA Bridges and Tunnels | MTA Bridges and Tunnels | MTA Bridges and Tunnels | MTA Bridges and Tunnels |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 05/15/2051 | &nbsp;&nbsp; 4.000% | 9000000 | &nbsp;&nbsp; 8191662 |
| Ulster County Capital Resource Corp.<sup>(c)</sup>  | Ulster County Capital Resource Corp.<sup>(c)</sup>  | Ulster County Capital Resource Corp.<sup>(c)</sup>  | Ulster County Capital Resource Corp.<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Woodland Pond at New Paltz | Woodland Pond at New Paltz | Woodland Pond at New Paltz | Woodland Pond at New Paltz |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 09/15/2042 | &nbsp;&nbsp; 5.250% | 5095000 | &nbsp;&nbsp; 5096572 |
| 09/15/2047 | &nbsp;&nbsp; 5.250% | 1475000 | &nbsp;&nbsp; 1382832 |
| 09/15/2053 | &nbsp;&nbsp; 5.250% | 2795000 | &nbsp;&nbsp; 2555216 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **167160701** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **North Carolina 1.1%** | **North Carolina 1.1%** | **North Carolina 1.1%** | **North Carolina 1.1%** |
| North Carolina Medical Care Commission | North Carolina Medical Care Commission | North Carolina Medical Care Commission | North Carolina Medical Care Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2021C | Series 2021C | Series 2021C | Series 2021C |
| 03/01/2036 | &nbsp;&nbsp; 4.000% | 2320000 | &nbsp;&nbsp; 2338153 |
| Southminster, Inc. | Southminster, Inc. | Southminster, Inc. | Southminster, Inc. |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 10/01/2037 | &nbsp;&nbsp; 5.000% | 1800000 | &nbsp;&nbsp; 1809548 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Deerfield Episcopal Retirement Community Project | Deerfield Episcopal Retirement Community Project | Deerfield Episcopal Retirement Community Project | Deerfield Episcopal Retirement Community Project |
| Series 2026 | Series 2026 | Series 2026 | Series 2026 |
| 11/01/2031 | &nbsp;&nbsp; 4.000% | 1455000 | &nbsp;&nbsp; 1459936 |
| Lutheran Services for the Aging | Lutheran Services for the Aging | Lutheran Services for the Aging | Lutheran Services for the Aging |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 03/01/2051 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 837561 |
| REX Health Care | REX Health Care | REX Health Care | REX Health Care |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2049 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4766302 |
| North Carolina Turnpike Authority | North Carolina Turnpike Authority | North Carolina Turnpike Authority | North Carolina Turnpike Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Senior Lien - Triangle Expressway | Senior Lien - Triangle Expressway | Senior Lien - Triangle Expressway | Senior Lien - Triangle Expressway |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 01/01/2049 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 2017382 |
| North Carolina Turnpike Authority<sup>(e)</sup>  | North Carolina Turnpike Authority<sup>(e)</sup>  | North Carolina Turnpike Authority<sup>(e)</sup>  | North Carolina Turnpike Authority<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017C | Series 2017C | Series 2017C | Series 2017C |
| 07/01/2032 | &nbsp;&nbsp; 0.000% | 2000000 | &nbsp;&nbsp; 1492287 |
| Triangle Expressway System | Triangle Expressway System | Triangle Expressway System | Triangle Expressway System |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 01/01/2043 | &nbsp;&nbsp; 0.000% | 3950000 | &nbsp;&nbsp; 1869338 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **16590507** |
| **North Dakota 0.6%** | **North Dakota 0.6%** | **North Dakota 0.6%** | **North Dakota 0.6%** |
| North Dakota Housing Finance Agency | North Dakota Housing Finance Agency | North Dakota Housing Finance Agency | North Dakota Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Home Mortgage Finance Program | Home Mortgage Finance Program | Home Mortgage Finance Program | Home Mortgage Finance Program |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 01/01/2042 | &nbsp;&nbsp; 3.850% | 720000 | &nbsp;&nbsp; 711713 |
| Housing Finance Program | Housing Finance Program | Housing Finance Program | Housing Finance Program |
| Series 2017 (FHA) | Series 2017 (FHA) | Series 2017 (FHA) | Series 2017 (FHA) |
| 07/01/2040 | &nbsp;&nbsp; 3.550% | 405000 | &nbsp;&nbsp; 393340 |
| Housing Finance Program-Home Mortgage Finance | Housing Finance Program-Home Mortgage Finance | Housing Finance Program-Home Mortgage Finance | Housing Finance Program-Home Mortgage Finance |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2042 | &nbsp;&nbsp; 3.950% | 915000 | &nbsp;&nbsp; 917263 |
| Series 2019C | Series 2019C | Series 2019C | Series 2019C |
| 07/01/2039 | &nbsp;&nbsp; 3.200% | 1530000 | &nbsp;&nbsp; 1427850 |
| Series 2024C | Series 2024C | Series 2024C | Series 2024C |
| 07/01/2049 | &nbsp;&nbsp; 4.750% | 5750000 | &nbsp;&nbsp; 5773872 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9224038** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Ohio 3.6%** | **Ohio 3.6%** | **Ohio 3.6%** | **Ohio 3.6%** |
| Buckeye Tobacco Settlement Financing Authority | Buckeye Tobacco Settlement Financing Authority | Buckeye Tobacco Settlement Financing Authority | Buckeye Tobacco Settlement Financing Authority |
| Refunding Senior Revenue Bonds | Refunding Senior Revenue Bonds | Refunding Senior Revenue Bonds | Refunding Senior Revenue Bonds |
| Series 2020B-2 | Series 2020B-2 | Series 2020B-2 | Series 2020B-2 |
| 06/01/2055 | &nbsp;&nbsp; 5.000% | 27010000 | &nbsp;&nbsp; 22213723 |
| Columbus Regional Airport Authority<sup>(d)</sup>  | Columbus Regional Airport Authority<sup>(d)</sup>  | Columbus Regional Airport Authority<sup>(d)</sup>  | Columbus Regional Airport Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| John Glenn Columbus International Airport | John Glenn Columbus International Airport | John Glenn Columbus International Airport | John Glenn Columbus International Airport |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 01/01/2050 | &nbsp;&nbsp; 5.500% | 12000000 | &nbsp;&nbsp; 12639903 |
| County of Marion | County of Marion | County of Marion | County of Marion |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| United Church Homes, Inc. | United Church Homes, Inc. | United Church Homes, Inc. | United Church Homes, Inc. |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 12/01/2039 | &nbsp;&nbsp; 5.000% | 2825000 | &nbsp;&nbsp; 2427397 |
| 12/01/2049 | &nbsp;&nbsp; 5.125% | 1270000 | &nbsp;&nbsp; 966514 |
| Ohio Air Quality Development Authority<sup>(d)</sup>  | Ohio Air Quality Development Authority<sup>(d)</sup>  | Ohio Air Quality Development Authority<sup>(d)</sup>  | Ohio Air Quality Development Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Ohio Valley Electric Crop. | Ohio Valley Electric Crop. | Ohio Valley Electric Crop. | Ohio Valley Electric Crop. |
| Series 2019 (Mandatory Put 10/01/29) | Series 2019 (Mandatory Put 10/01/29) | Series 2019 (Mandatory Put 10/01/29) | Series 2019 (Mandatory Put 10/01/29) |
| 06/01/2041 | &nbsp;&nbsp; 2.600% | 1500000 | &nbsp;&nbsp; 1452827 |
| Ohio Housing Finance Agency | Ohio Housing Finance Agency | Ohio Housing Finance Agency | Ohio Housing Finance Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 09/01/2054 | &nbsp;&nbsp; 4.700% | 4855000 | &nbsp;&nbsp; 4787507 |
| Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) |
| 09/01/2049 | &nbsp;&nbsp; 4.550% | 4800000 | &nbsp;&nbsp; 4744690 |
| 09/01/2054 | &nbsp;&nbsp; 4.650% | 4795000 | &nbsp;&nbsp; 4713225 |
| Summit County Development Finance Authority | Summit County Development Finance Authority | Summit County Development Finance Authority | Summit County Development Finance Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| University of Akron Parking Project | University of Akron Parking Project | University of Akron Parking Project | University of Akron Parking Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 12/01/2058 | &nbsp;&nbsp; 6.000% | 2000000 | &nbsp;&nbsp; 2122885 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **56068671** |
| **Oklahoma 0.5%** | **Oklahoma 0.5%** | **Oklahoma 0.5%** | **Oklahoma 0.5%** |
| Oklahoma Turnpike Authority | Oklahoma Turnpike Authority | Oklahoma Turnpike Authority | Oklahoma Turnpike Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 01/01/2054 | &nbsp;&nbsp; 5.500% | 2500000 | &nbsp;&nbsp; 2700911 |
| Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) | Series 2025A (ACA) |
| 01/01/2055 | &nbsp;&nbsp; 4.250% | 1625000 | &nbsp;&nbsp; 1601015 |
| Tulsa County Industrial Authority | Tulsa County Industrial Authority | Tulsa County Industrial Authority | Tulsa County Industrial Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Montereau, Inc. Project | Montereau, Inc. Project | Montereau, Inc. Project | Montereau, Inc. Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 11/15/2037 | &nbsp;&nbsp; 5.250% | 1250000 | &nbsp;&nbsp; 1270387 |
| 11/15/2045 | &nbsp;&nbsp; 5.250% | 1885000 | &nbsp;&nbsp; 1887279 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **7459592** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Oregon 0.9%** | **Oregon 0.9%** | **Oregon 0.9%** | **Oregon 0.9%** |
| Oregon State Facilities Authority<sup>(c)</sup>  | Oregon State Facilities Authority<sup>(c)</sup>  | Oregon State Facilities Authority<sup>(c)</sup>  | Oregon State Facilities Authority<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Redmond Proficiency Academy Project | Redmond Proficiency Academy Project | Redmond Proficiency Academy Project | Redmond Proficiency Academy Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/15/2055 | &nbsp;&nbsp; 5.625% | 820000 | &nbsp;&nbsp; 811106 |
| 06/15/2065 | &nbsp;&nbsp; 6.000% | 1250000 | &nbsp;&nbsp; 1266499 |
| Port of Portland Airport<sup>(d)</sup>  | Port of Portland Airport<sup>(d)</sup>  | Port of Portland Airport<sup>(d)</sup>  | Port of Portland Airport<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Green Bonds | Green Bonds | Green Bonds | Green Bonds |
| Series 2023-29 | Series 2023-29 | Series 2023-29 | Series 2023-29 |
| 07/01/2048 | &nbsp;&nbsp; 5.500% | 10000000 | &nbsp;&nbsp; 10535651 |
| State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department | State of Oregon Housing & Community Services Department |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2017D | Series 2017D | Series 2017D | Series 2017D |
| 01/01/2038 | &nbsp;&nbsp; 3.450% | 2365000 | &nbsp;&nbsp; 2319651 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **14932907** |
| **Pennsylvania 4.3%** | **Pennsylvania 4.3%** | **Pennsylvania 4.3%** | **Pennsylvania 4.3%** |
| Cumberland County Municipal Authority | Cumberland County Municipal Authority | Cumberland County Municipal Authority | Cumberland County Municipal Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Diakon Lutheran Social Ministries | Diakon Lutheran Social Ministries | Diakon Lutheran Social Ministries | Diakon Lutheran Social Ministries |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 01/01/2038 | &nbsp;&nbsp; 5.000% | 545000 | &nbsp;&nbsp; 545395 |
| Franklin County Industrial Development Authority | Franklin County Industrial Development Authority | Franklin County Industrial Development Authority | Franklin County Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Menno-Haven, Inc. Project | Menno-Haven, Inc. Project | Menno-Haven, Inc. Project | Menno-Haven, Inc. Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2043 | &nbsp;&nbsp; 5.000% | 1200000 | &nbsp;&nbsp; 1164753 |
| Geisinger Authority | Geisinger Authority | Geisinger Authority | Geisinger Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Geisinger Health System | Geisinger Health System | Geisinger Health System | Geisinger Health System |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 02/15/2047 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4460416 |
| Luzerne County Industrial Development Authority<sup>(d)</sup>  | Luzerne County Industrial Development Authority<sup>(d)</sup>  | Luzerne County Industrial Development Authority<sup>(d)</sup>  | Luzerne County Industrial Development Authority<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Pennsylvania-American Water Co. Project | Pennsylvania-American Water Co. Project | Pennsylvania-American Water Co. Project | Pennsylvania-American Water Co. Project |
| Series 2019 (Mandatory Put 12/03/29) | Series 2019 (Mandatory Put 12/03/29) | Series 2019 (Mandatory Put 12/03/29) | Series 2019 (Mandatory Put 12/03/29) |
| 12/01/2039 | &nbsp;&nbsp; 2.450% | 3500000 | &nbsp;&nbsp; 3265270 |
| Montgomery County Industrial Development Authority | Montgomery County Industrial Development Authority | Montgomery County Industrial Development Authority | Montgomery County Industrial Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Meadowood Senior Living Project | Meadowood Senior Living Project | Meadowood Senior Living Project | Meadowood Senior Living Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2038 | &nbsp;&nbsp; 5.000% | 1270000 | &nbsp;&nbsp; 1289326 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| ACTS Retirement - Life Communities | ACTS Retirement - Life Communities | ACTS Retirement - Life Communities | ACTS Retirement - Life Communities |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 11/15/2043 | &nbsp;&nbsp; 4.000% | 1000000 | &nbsp;&nbsp; 948750 |
| Pennsylvania Economic Development Finance Authority | Pennsylvania Economic Development Finance Authority | Pennsylvania Economic Development Finance Authority | Pennsylvania Economic Development Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017A (BAM) | Series 2017A (BAM) | Series 2017A (BAM) | Series 2017A (BAM) |
| 11/15/2042 | &nbsp;&nbsp; 4.000% | 10000000 | &nbsp;&nbsp; 9671405 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Pennsylvania Economic Development Financing Authority<sup>(c),(f)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(c),(f)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(c),(f)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(c),(f)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Tapestry Moon Senior Housing Project | Tapestry Moon Senior Housing Project | Tapestry Moon Senior Housing Project | Tapestry Moon Senior Housing Project |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 12/01/2053 | &nbsp;&nbsp; 0.000% | 5625000 | &nbsp;&nbsp; 731250 |
| Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  | Pennsylvania Economic Development Financing Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| PA Bridges Finco LP | PA Bridges Finco LP | PA Bridges Finco LP | PA Bridges Finco LP |
| Series 2015 | Series 2015 | Series 2015 | Series 2015 |
| 12/31/2038 | &nbsp;&nbsp; 5.000% | 5125000 | &nbsp;&nbsp; 5136967 |
| 06/30/2042 | &nbsp;&nbsp; 5.000% | 10000000 | &nbsp;&nbsp; 10010470 |
| The PennDOT Major Bridges Package One Project | The PennDOT Major Bridges Package One Project | The PennDOT Major Bridges Package One Project | The PennDOT Major Bridges Package One Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/30/2053 | &nbsp;&nbsp; 5.250% | 5000000 | &nbsp;&nbsp; 5050546 |
| 06/30/2061 | &nbsp;&nbsp; 6.000% | 3000000 | &nbsp;&nbsp; 3172507 |
| Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  | Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  | Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  | Pennsylvania Higher Education Assistance Agency<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025-1A | Series 2025-1A | Series 2025-1A | Series 2025-1A |
| 06/01/2034 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 1089162 |
| Pennsylvania Housing Finance Agency | Pennsylvania Housing Finance Agency | Pennsylvania Housing Finance Agency | Pennsylvania Housing Finance Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2017-124B | Series 2017-124B | Series 2017-124B | Series 2017-124B |
| 10/01/2042 | &nbsp;&nbsp; 3.650% | 7180000 | &nbsp;&nbsp; 6809149 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019-131A | Series 2019-131A | Series 2019-131A | Series 2019-131A |
| 10/01/2039 | &nbsp;&nbsp; 3.000% | 3000000 | &nbsp;&nbsp; 2741562 |
| Series 2024-146A | Series 2024-146A | Series 2024-146A | Series 2024-146A |
| 04/01/2053 | &nbsp;&nbsp; 4.750% | 10000000 | &nbsp;&nbsp; 9931146 |
| Series 2025-149A | Series 2025-149A | Series 2025-149A | Series 2025-149A |
| 10/01/2055 | &nbsp;&nbsp; 6.500% | 2000000 | &nbsp;&nbsp; 2313163 |
| State Public School Building Authority | State Public School Building Authority | State Public School Building Authority | State Public School Building Authority |
| Prerefunded 12/01/26 Revenue Bonds | Prerefunded 12/01/26 Revenue Bonds | Prerefunded 12/01/26 Revenue Bonds | Prerefunded 12/01/26 Revenue Bonds |
| Philadelphia School District Project | Philadelphia School District Project | Philadelphia School District Project | Philadelphia School District Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 06/01/2036 | &nbsp;&nbsp; 5.000% | 5000 | &nbsp;&nbsp; 5112 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **68336349** |
| **Puerto Rico 5.3%** | **Puerto Rico 5.3%** | **Puerto Rico 5.3%** | **Puerto Rico 5.3%** |
| Commonwealth of Puerto Rico<sup>(h),(i)</sup>  | Commonwealth of Puerto Rico<sup>(h),(i)</sup>  | Commonwealth of Puerto Rico<sup>(h),(i)</sup>  | Commonwealth of Puerto Rico<sup>(h),(i)</sup>  |
| Revenue Notes | Revenue Notes | Revenue Notes | Revenue Notes |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 11/01/2051 | &nbsp;&nbsp; 0.000% | 5046134 | &nbsp;&nbsp; 3355679 |
| Subordinated Series 2022 | Subordinated Series 2022 | Subordinated Series 2022 | Subordinated Series 2022 |
| 11/01/2043 | &nbsp;&nbsp; 0.000% | 3494731 | &nbsp;&nbsp; 2289049 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>(c),(i)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Senior Lien | Senior Lien | Senior Lien | Senior Lien |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2047 | &nbsp;&nbsp; 5.000% | 16145000 | &nbsp;&nbsp; 16005160 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 07/01/2047 | &nbsp;&nbsp; 4.000% | 780000 | &nbsp;&nbsp; 690701 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Puerto Rico Electric Power Authority<sup>(f),(i)</sup>  | Puerto Rico Electric Power Authority<sup>(f),(i)</sup>  | Puerto Rico Electric Power Authority<sup>(f),(i)</sup>  | Puerto Rico Electric Power Authority<sup>(f),(i)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2007TT | Series 2007TT | Series 2007TT | Series 2007TT |
| 07/01/2022 | &nbsp;&nbsp; 0.000% | 2735000 | &nbsp;&nbsp; 1825612 |
| 07/01/2032 | &nbsp;&nbsp; 0.000% | 2420000 | &nbsp;&nbsp; 1612325 |
| Series 2008WW | Series 2008WW | Series 2008WW | Series 2008WW |
| 07/01/2033 | &nbsp;&nbsp; 0.000% | 1750000 | &nbsp;&nbsp; 1165937 |
| 07/01/2038 | &nbsp;&nbsp; 0.000% | 1750000 | &nbsp;&nbsp; 1165938 |
| Series 2010CCC | Series 2010CCC | Series 2010CCC | Series 2010CCC |
| 07/01/2028 | &nbsp;&nbsp; 0.000% | 6000000 | &nbsp;&nbsp; 3997500 |
| Series 2012A | Series 2012A | Series 2012A | Series 2012A |
| 07/01/2042 | &nbsp;&nbsp; 0.000% | 925000 | &nbsp;&nbsp; 616281 |
| Puerto Rico Sales Tax Financing Corp.<sup>(e),(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(e),(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(e),(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(e),(i)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2018A-1 | Series 2018A-1 | Series 2018A-1 | Series 2018A-1 |
| 07/01/2046 | &nbsp;&nbsp; 0.000% | 52403000 | &nbsp;&nbsp; 18156670 |
| 07/01/2051 | &nbsp;&nbsp; 0.000% | 30030000 | &nbsp;&nbsp; 7606887 |
| Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  | Puerto Rico Sales Tax Financing Corp.<sup>(i)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2019A1 | Series 2019A1 | Series 2019A1 | Series 2019A1 |
| 07/01/2058 | &nbsp;&nbsp; 5.000% | 19420000 | &nbsp;&nbsp; 19007397 |
| Series 2019A-1 | Series 2019A-1 | Series 2019A-1 | Series 2019A-1 |
| 07/01/2053 | &nbsp;&nbsp; 4.750% | 6000000 | &nbsp;&nbsp; 5787171 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **83282307** |
| **South Carolina 2.1%** | **South Carolina 2.1%** | **South Carolina 2.1%** | **South Carolina 2.1%** |
| Patriots Energy Group Financing Agency | Patriots Energy Group Financing Agency | Patriots Energy Group Financing Agency | Patriots Energy Group Financing Agency |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2023B-1 (Mandatory Put 03/01/31) | Series 2023B-1 (Mandatory Put 03/01/31) | Series 2023B-1 (Mandatory Put 03/01/31) | Series 2023B-1 (Mandatory Put 03/01/31) |
| 02/01/2054 | &nbsp;&nbsp; 5.250% | 2000000 | &nbsp;&nbsp; 2159805 |
| South Carolina Jobs-Economic Development Authority | South Carolina Jobs-Economic Development Authority | South Carolina Jobs-Economic Development Authority | South Carolina Jobs-Economic Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| American Leadership Academy | American Leadership Academy | American Leadership Academy | American Leadership Academy |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 06/15/2033 | &nbsp;&nbsp; 5.500% | 4000000 | &nbsp;&nbsp; 3996638 |
| Novant Health Obligated Group | Novant Health Obligated Group | Novant Health Obligated Group | Novant Health Obligated Group |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2049 | &nbsp;&nbsp; 5.500% | 5000000 | &nbsp;&nbsp; 5328386 |
| 11/01/2054 | &nbsp;&nbsp; 5.500% | 2500000 | &nbsp;&nbsp; 2630787 |
| Rolling Green Village Project | Rolling Green Village Project | Rolling Green Village Project | Rolling Green Village Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/01/2045 | &nbsp;&nbsp; 5.500% | 375000 | &nbsp;&nbsp; 379448 |
| South Carolina Public Service Authority | South Carolina Public Service Authority | South Carolina Public Service Authority | South Carolina Public Service Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Santee Cooper | Santee Cooper | Santee Cooper | Santee Cooper |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 12/01/2050 | &nbsp;&nbsp; 4.000% | 5155000 | &nbsp;&nbsp; 4601666 |
| Series 2022A | Series 2022A | Series 2022A | Series 2022A |
| 12/01/2047 | &nbsp;&nbsp; 4.000% | 13000000 | &nbsp;&nbsp; 11816912 |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 12/01/2055 | &nbsp;&nbsp; 5.000% | 1625000 | &nbsp;&nbsp; 1650690 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| South Carolina State Housing Finance & Development Authority | South Carolina State Housing Finance & Development Authority | South Carolina State Housing Finance & Development Authority | South Carolina State Housing Finance & Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 07/01/2040 | &nbsp;&nbsp; 3.000% | 855000 | &nbsp;&nbsp; 769845 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **33334177** |
| **South Dakota 1.0%** | **South Dakota 1.0%** | **South Dakota 1.0%** | **South Dakota 1.0%** |
| South Dakota Health & Educational Facilities Authority | South Dakota Health & Educational Facilities Authority | South Dakota Health & Educational Facilities Authority | South Dakota Health & Educational Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Avera Health | Avera Health | Avera Health | Avera Health |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2042 | &nbsp;&nbsp; 4.000% | 10000000 | &nbsp;&nbsp; 9703503 |
| South Dakota Housing Development Authority | South Dakota Housing Development Authority | South Dakota Housing Development Authority | South Dakota Housing Development Authority |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) | Series 2024A (GNMA) |
| 11/01/2044 | &nbsp;&nbsp; 4.450% | 2500000 | &nbsp;&nbsp; 2507649 |
| 05/01/2049 | &nbsp;&nbsp; 4.625% | 3410000 | &nbsp;&nbsp; 3394892 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **15606044** |
| **Tennessee 1.2%** | **Tennessee 1.2%** | **Tennessee 1.2%** | **Tennessee 1.2%** |
| Greeneville Health & Educational Facilities Board | Greeneville Health & Educational Facilities Board | Greeneville Health & Educational Facilities Board | Greeneville Health & Educational Facilities Board |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Ballad Health | Ballad Health | Ballad Health | Ballad Health |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2040 | &nbsp;&nbsp; 4.000% | 1800000 | &nbsp;&nbsp; 1795136 |
| Shelby County Health & Educational Facility Board<sup>(c)</sup>  | Shelby County Health & Educational Facility Board<sup>(c)</sup>  | Shelby County Health & Educational Facility Board<sup>(c)</sup>  | Shelby County Health & Educational Facility Board<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Madrone Memphis Student Housing I LLC-University of Memphis Project | Madrone Memphis Student Housing I LLC-University of Memphis Project | Madrone Memphis Student Housing I LLC-University of Memphis Project | Madrone Memphis Student Housing I LLC-University of Memphis Project |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/01/2056 | &nbsp;&nbsp; 5.250% | 4000000 | &nbsp;&nbsp; 3849080 |
| Shelby County Health Educational & Housing Facilities Board | Shelby County Health Educational & Housing Facilities Board | Shelby County Health Educational & Housing Facilities Board | Shelby County Health Educational & Housing Facilities Board |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| The Farms at Bailey Station Project | The Farms at Bailey Station Project | The Farms at Bailey Station Project | The Farms at Bailey Station Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 10/01/2059 | &nbsp;&nbsp; 5.750% | 6000000 | &nbsp;&nbsp; 4002840 |
| Tennessee Housing Development Agency | Tennessee Housing Development Agency | Tennessee Housing Development Agency | Tennessee Housing Development Agency |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 3rd Issue | 3rd Issue | 3rd Issue | 3rd Issue |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2042 | &nbsp;&nbsp; 3.600% | 450000 | &nbsp;&nbsp; 424199 |
| 07/01/2047 | &nbsp;&nbsp; 3.650% | 895000 | &nbsp;&nbsp; 802056 |
| Series 2018-1 | Series 2018-1 | Series 2018-1 | Series 2018-1 |
| 07/01/2042 | &nbsp;&nbsp; 3.900% | 435000 | &nbsp;&nbsp; 428074 |
| Series 2024-1A | Series 2024-1A | Series 2024-1A | Series 2024-1A |
| 07/01/2044 | &nbsp;&nbsp; 4.500% | 850000 | &nbsp;&nbsp; 855055 |
| 07/01/2049 | &nbsp;&nbsp; 4.700% | 1350000 | &nbsp;&nbsp; 1354371 |
| 07/01/2054 | &nbsp;&nbsp; 4.800% | 565000 | &nbsp;&nbsp; 565377 |
| Social Bond | Social Bond | Social Bond | Social Bond |
| Series 2022-2 | Series 2022-2 | Series 2022-2 | Series 2022-2 |
| 07/01/2042 | &nbsp;&nbsp; 4.250% | 4500000 | &nbsp;&nbsp; 4519846 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **18596034** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Texas 9.9%** | **Texas 9.9%** | **Texas 9.9%** | **Texas 9.9%** |
| Angelina & Neches River Authority<sup>(c),(d),(f)</sup>  | Angelina & Neches River Authority<sup>(c),(d),(f)</sup>  | Angelina & Neches River Authority<sup>(c),(d),(f)</sup>  | Angelina & Neches River Authority<sup>(c),(d),(f)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Jefferson Enterprise Energy LLC Project | Jefferson Enterprise Energy LLC Project | Jefferson Enterprise Energy LLC Project | Jefferson Enterprise Energy LLC Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 12/01/2045 | &nbsp;&nbsp; 0.000% | 4250000 | &nbsp;&nbsp; 85000 |
| Arlington Higher Education Finance Corp.<sup>(c)</sup>  | Arlington Higher Education Finance Corp.<sup>(c)</sup>  | Arlington Higher Education Finance Corp.<sup>(c)</sup>  | Arlington Higher Education Finance Corp.<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Basis Texas Charter Schools, Inc. | Basis Texas Charter Schools, Inc. | Basis Texas Charter Schools, Inc. | Basis Texas Charter Schools, Inc. |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/15/2064 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 897387 |
| Legacy Traditional Schools - Texas Project | Legacy Traditional Schools - Texas Project | Legacy Traditional Schools - Texas Project | Legacy Traditional Schools - Texas Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 02/15/2062 | &nbsp;&nbsp; 6.750% | 5000000 | &nbsp;&nbsp; 4988085 |
| Arlington Higher Education Finance Corp. | Arlington Higher Education Finance Corp. | Arlington Higher Education Finance Corp. | Arlington Higher Education Finance Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Riverwalk Education Foundation | Riverwalk Education Foundation | Riverwalk Education Foundation | Riverwalk Education Foundation |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 08/15/2060 | &nbsp;&nbsp; 4.500% | 2750000 | &nbsp;&nbsp; 2612185 |
| Austin Independent School District | Austin Independent School District | Austin Independent School District | Austin Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 08/01/2048 | &nbsp;&nbsp; 4.000% | 2100000 | &nbsp;&nbsp; 1972566 |
| Bastrop Independent School District | Bastrop Independent School District | Bastrop Independent School District | Bastrop Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 02/15/2053 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5134631 |
| Bexar County Health Facilities Development Corp. | Bexar County Health Facilities Development Corp. | Bexar County Health Facilities Development Corp. | Bexar County Health Facilities Development Corp. |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Army Retirement Residence Foundation | Army Retirement Residence Foundation | Army Retirement Residence Foundation | Army Retirement Residence Foundation |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 07/15/2031 | &nbsp;&nbsp; 4.000% | 2000000 | &nbsp;&nbsp; 2000620 |
| 07/15/2036 | &nbsp;&nbsp; 4.000% | 3000000 | &nbsp;&nbsp; 2902883 |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/15/2037 | &nbsp;&nbsp; 5.000% | 2100000 | &nbsp;&nbsp; 2123705 |
| City of Houston | City of Houston | City of Houston | City of Houston |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| United Airlines, Inc. | United Airlines, Inc. | United Airlines, Inc. | United Airlines, Inc. |
| Series 2024B | Series 2024B | Series 2024B | Series 2024B |
| 07/15/2039 | &nbsp;&nbsp; 5.500% | 3300000 | &nbsp;&nbsp; 3561537 |
| City of Houston Airport System<sup>(d)</sup>  | City of Houston Airport System<sup>(d)</sup>  | City of Houston Airport System<sup>(d)</sup>  | City of Houston Airport System<sup>(d)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Subordinated Series 2023A (AGM) | Subordinated Series 2023A (AGM) | Subordinated Series 2023A (AGM) | Subordinated Series 2023A (AGM) |
| 07/01/2048 | &nbsp;&nbsp; 5.250% | 10000000 | &nbsp;&nbsp; 10323331 |
| Clifton Higher Education Finance Corp. | Clifton Higher Education Finance Corp. | Clifton Higher Education Finance Corp. | Clifton Higher Education Finance Corp. |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| IDEA Public Schools | IDEA Public Schools | IDEA Public Schools | IDEA Public Schools |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 1625000 | &nbsp;&nbsp; 1486792 |
| 08/15/2054 | &nbsp;&nbsp; 4.000% | 1250000 | &nbsp;&nbsp; 1116260 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| County of Harris Toll Road | County of Harris Toll Road | County of Harris Toll Road | County of Harris Toll Road |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 6675000 | &nbsp;&nbsp; 6230099 |
| Crowley Independent School District | Crowley Independent School District | Crowley Independent School District | Crowley Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 02/01/2053 | &nbsp;&nbsp; 4.250% | 2700000 | &nbsp;&nbsp; 2575723 |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/01/2054 | &nbsp;&nbsp; 4.250% | 5000000 | &nbsp;&nbsp; 4742710 |
| Cypress-Fairbanks Independent School District | Cypress-Fairbanks Independent School District | Cypress-Fairbanks Independent School District | Cypress-Fairbanks Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 02/15/2048 | &nbsp;&nbsp; 4.000% | 5550000 | &nbsp;&nbsp; 5230160 |
| Series 2024B | Series 2024B | Series 2024B | Series 2024B |
| 02/15/2049 | &nbsp;&nbsp; 4.000% | 5000000 | &nbsp;&nbsp; 4672233 |
| Dallas Fort Worth International Airport | Dallas Fort Worth International Airport | Dallas Fort Worth International Airport | Dallas Fort Worth International Airport |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 11/01/2049 | &nbsp;&nbsp; 4.000% | 7500000 | &nbsp;&nbsp; 6838947 |
| Fort Bend Independent School District | Fort Bend Independent School District | Fort Bend Independent School District | Fort Bend Independent School District |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 2735000 | &nbsp;&nbsp; 2554663 |
| Humble Independent School District | Humble Independent School District | Humble Independent School District | Humble Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 02/15/2052 | &nbsp;&nbsp; 4.000% | 8300000 | &nbsp;&nbsp; 7621675 |
| Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds | Unlimited General Obligation Refunding Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 02/15/2052 | &nbsp;&nbsp; 4.000% | 2750000 | &nbsp;&nbsp; 2529197 |
| Hurst-Euless-Bedford Independent School District | Hurst-Euless-Bedford Independent School District | Hurst-Euless-Bedford Independent School District | Hurst-Euless-Bedford Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 08/15/2050 | &nbsp;&nbsp; 4.000% | 6000000 | &nbsp;&nbsp; 5562727 |
| Hutto Independent School District | Hutto Independent School District | Hutto Independent School District | Hutto Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 08/01/2053 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2576739 |
| Katy Independent School District | Katy Independent School District | Katy Independent School District | Katy Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 02/15/2052 | &nbsp;&nbsp; 4.000% | 1700000 | &nbsp;&nbsp; 1556206 |
| Midland Independent School District | Midland Independent School District | Midland Independent School District | Midland Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/15/2054 | &nbsp;&nbsp; 4.000% | 6000000 | &nbsp;&nbsp; 5437415 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Mission Economic Development Corp.<sup>(b)</sup>  | Mission Economic Development Corp.<sup>(b)</sup>  | Mission Economic Development Corp.<sup>(b)</sup>  | Mission Economic Development Corp.<sup>(b)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Graphic Packaging International LLC Project | Graphic Packaging International LLC Project | Graphic Packaging International LLC Project | Graphic Packaging International LLC Project |
| Series 2025 (Mandatory Put 06/01/30) | Series 2025 (Mandatory Put 06/01/30) | Series 2025 (Mandatory Put 06/01/30) | Series 2025 (Mandatory Put 06/01/30) |
| 12/01/2064 | &nbsp;&nbsp; 5.000% | 1550000 | &nbsp;&nbsp; 1608025 |
| New Braunfels Independent School District | New Braunfels Independent School District | New Braunfels Independent School District | New Braunfels Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/01/2052 | &nbsp;&nbsp; 4.000% | 2750000 | &nbsp;&nbsp; 2525640 |
| New Hope Cultural Education Facilities Finance Corp. | New Hope Cultural Education Facilities Finance Corp. | New Hope Cultural Education Facilities Finance Corp. | New Hope Cultural Education Facilities Finance Corp. |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Texas Children's Health System | Texas Children's Health System | Texas Children's Health System | Texas Children's Health System |
| Series 2017A | Series 2017A | Series 2017A | Series 2017A |
| 08/15/2040 | &nbsp;&nbsp; 4.000% | 3610000 | &nbsp;&nbsp; 3612578 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| MRC Senior Living-Langford Project | MRC Senior Living-Langford Project | MRC Senior Living-Langford Project | MRC Senior Living-Langford Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 11/15/2036 | &nbsp;&nbsp; 5.375% | 500000 | &nbsp;&nbsp; 489563 |
| 11/15/2046 | &nbsp;&nbsp; 5.500% | 750000 | &nbsp;&nbsp; 658769 |
| New Hope Cultural Education Facilities Finance Corp.<sup>(f)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(f)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(f)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(f)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 4-K Housing, Inc. Stoney Brook Project | 4-K Housing, Inc. Stoney Brook Project | 4-K Housing, Inc. Stoney Brook Project | 4-K Housing, Inc. Stoney Brook Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 07/01/2042 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 737269 |
| 07/01/2047 | &nbsp;&nbsp; 0.000% | 1000000 | &nbsp;&nbsp; 721574 |
| 07/01/2052 | &nbsp;&nbsp; 0.000% | 1500000 | &nbsp;&nbsp; 1066427 |
| Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project |
| Senior Series 2023A-2 | Senior Series 2023A-2 | Senior Series 2023A-2 | Senior Series 2023A-2 |
| 12/31/2030 | &nbsp;&nbsp; 0.000% | 798656 | &nbsp;&nbsp; 798656 |
| Cardinal Bay, Inc. - Village on the Park | Cardinal Bay, Inc. - Village on the Park | Cardinal Bay, Inc. - Village on the Park | Cardinal Bay, Inc. - Village on the Park |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 07/01/2036 | &nbsp;&nbsp; 0.000% | 1500000 | &nbsp;&nbsp; 1170000 |
| 07/01/2051 | &nbsp;&nbsp; 0.000% | 5235000 | &nbsp;&nbsp; 3926250 |
| Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project | Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project | Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project | Cardinal Bay, Inc. - Village on the Park/Carriage Inn Project |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 07/01/2046 | &nbsp;&nbsp; 0.000% | 2535000 | &nbsp;&nbsp; 1926600 |
| New Hope Cultural Education Facilities Finance Corp.<sup>(f),(j)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(f),(j)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(f),(j)</sup>  | New Hope Cultural Education Facilities Finance Corp.<sup>(f),(j)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project | Bridgemoor Plano Project |
| Senior Series 2023A-1 | Senior Series 2023A-1 | Senior Series 2023A-1 | Senior Series 2023A-1 |
| 12/31/2030 | &nbsp;&nbsp; 0.000% | 4500000 | &nbsp;&nbsp; 4500000 |
| Northside Independent School District | Northside Independent School District | Northside Independent School District | Northside Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024A | Series 2024A | Series 2024A | Series 2024A |
| 08/15/2049 | &nbsp;&nbsp; 4.000% | 2500000 | &nbsp;&nbsp; 2331701 |
| 08/15/2054 | &nbsp;&nbsp; 4.125% | 3500000 | &nbsp;&nbsp; 3245968 |
| Pottsboro Higher Education Finance Corp. | Pottsboro Higher Education Finance Corp. | Pottsboro Higher Education Finance Corp. | Pottsboro Higher Education Finance Corp. |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2016A | Series 2016A | Series 2016A | Series 2016A |
| 08/15/2036 | &nbsp;&nbsp; 5.000% | 385000 | &nbsp;&nbsp; 385392 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Prosper Independent School District | Prosper Independent School District | Prosper Independent School District | Prosper Independent School District |
| Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds | Unlimited General Obligation Bonds |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 02/15/2054 | &nbsp;&nbsp; 4.250% | 3000000 | &nbsp;&nbsp; 2827196 |
| Texas Municipal Gas Acquisition & Supply Corp. VI | Texas Municipal Gas Acquisition & Supply Corp. VI | Texas Municipal Gas Acquisition & Supply Corp. VI | Texas Municipal Gas Acquisition & Supply Corp. VI |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 01/01/2036 | &nbsp;&nbsp; 5.000% | 5000000 | &nbsp;&nbsp; 5419907 |
| Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  | Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  | Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  | Texas Private Activity Bond Surface Transportation Corp.<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| NTE Mobility Partners LLC North Tarrant Express Project | NTE Mobility Partners LLC North Tarrant Express Project | NTE Mobility Partners LLC North Tarrant Express Project | NTE Mobility Partners LLC North Tarrant Express Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 12/31/2058 | &nbsp;&nbsp; 5.500% | 6600000 | &nbsp;&nbsp; 6806771 |
| Segment 3C Project | Segment 3C Project | Segment 3C Project | Segment 3C Project |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 06/30/2058 | &nbsp;&nbsp; 5.000% | 10000000 | &nbsp;&nbsp; 9757229 |
| Texas Transportation Commission<sup>(e)</sup>  | Texas Transportation Commission<sup>(e)</sup>  | Texas Transportation Commission<sup>(e)</sup>  | Texas Transportation Commission<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| First Tier Toll | First Tier Toll | First Tier Toll | First Tier Toll |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 08/01/2036 | &nbsp;&nbsp; 0.000% | 950000 | &nbsp;&nbsp; 614850 |
| 08/01/2039 | &nbsp;&nbsp; 0.000% | 600000 | &nbsp;&nbsp; 327018 |
| Texas Water Development Board | Texas Water Development Board | Texas Water Development Board | Texas Water Development Board |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 10/15/2058 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2567910 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **155358769** |
| **Utah 0.6%** | **Utah 0.6%** | **Utah 0.6%** | **Utah 0.6%** |
| Point Phase 1 Public Infrastructure District No. 1 | Point Phase 1 Public Infrastructure District No. 1 | Point Phase 1 Public Infrastructure District No. 1 | Point Phase 1 Public Infrastructure District No. 1 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A-1 | Series 2025A-1 | Series 2025A-1 | Series 2025A-1 |
| 03/01/2045 | &nbsp;&nbsp; 5.875% | 2750000 | &nbsp;&nbsp; 2842650 |
| Point Phase 1 Public Infrastructure District No. 1<sup>(c)</sup>  | Point Phase 1 Public Infrastructure District No. 1<sup>(c)</sup>  | Point Phase 1 Public Infrastructure District No. 1<sup>(c)</sup>  | Point Phase 1 Public Infrastructure District No. 1<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Subordinated Series 2025 | Subordinated Series 2025 | Subordinated Series 2025 | Subordinated Series 2025 |
| 03/15/2055 | &nbsp;&nbsp; 8.500% | 1000000 | &nbsp;&nbsp; 1007885 |
| UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  | UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  | UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  | UIPA Crossroads Public Infrastructure District<sup>(c)</sup>  |
| Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds | Tax Allocation Bonds |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 06/01/2052 | &nbsp;&nbsp; 4.375% | 2760000 | &nbsp;&nbsp; 2511804 |
| Utah Charter School Finance Authority<sup>(c)</sup>  | Utah Charter School Finance Authority<sup>(c)</sup>  | Utah Charter School Finance Authority<sup>(c)</sup>  | Utah Charter School Finance Authority<sup>(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Ascent Academies Charter Schools | Ascent Academies Charter Schools | Ascent Academies Charter Schools | Ascent Academies Charter Schools |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 06/15/2057 | &nbsp;&nbsp; 5.000% | 2840000 | &nbsp;&nbsp; 2331698 |
| Wakara Ridge Public Infrastructure District<sup>(c)</sup>  | Wakara Ridge Public Infrastructure District<sup>(c)</sup>  | Wakara Ridge Public Infrastructure District<sup>(c)</sup>  | Wakara Ridge Public Infrastructure District<sup>(c)</sup>  |
| Special Assessment Bonds | Special Assessment Bonds | Special Assessment Bonds | Special Assessment Bonds |
| Wakara Ridge Assessment Area | Wakara Ridge Assessment Area | Wakara Ridge Assessment Area | Wakara Ridge Assessment Area |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/01/2054 | &nbsp;&nbsp; 5.625% | 750000 | &nbsp;&nbsp; 763339 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9457376** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Virginia 0.7%** | **Virginia 0.7%** | **Virginia 0.7%** | **Virginia 0.7%** |
| Chesapeake Bay Bridge & Tunnel District | Chesapeake Bay Bridge & Tunnel District | Chesapeake Bay Bridge & Tunnel District | Chesapeake Bay Bridge & Tunnel District |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| 1st Tier General Resolution | 1st Tier General Resolution | 1st Tier General Resolution | 1st Tier General Resolution |
| Series 2016 | Series 2016 | Series 2016 | Series 2016 |
| 07/01/2051 | &nbsp;&nbsp; 5.000% | 7470000 | &nbsp;&nbsp; 7471218 |
| Virginia Small Business Financing Authority<sup>(d)</sup>  | Virginia Small Business Financing Authority<sup>(d)</sup>  | Virginia Small Business Financing Authority<sup>(d)</sup>  | Virginia Small Business Financing Authority<sup>(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Transform 66 P3 Project | Transform 66 P3 Project | Transform 66 P3 Project | Transform 66 P3 Project |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 12/31/2052 | &nbsp;&nbsp; 5.000% | 2125000 | &nbsp;&nbsp; 2024156 |
| 12/31/2056 | &nbsp;&nbsp; 5.000% | 2000000 | &nbsp;&nbsp; 1887561 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **11382935** |
| **Washington 0.6%** | **Washington 0.6%** | **Washington 0.6%** | **Washington 0.6%** |
| King County Housing Authority | King County Housing Authority | King County Housing Authority | King County Housing Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 05/01/2038 | &nbsp;&nbsp; 3.750% | 3890000 | &nbsp;&nbsp; 3869684 |
| Washington State Housing Finance Commission | Washington State Housing Finance Commission | Washington State Housing Finance Commission | Washington State Housing Finance Commission |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Emerald Heights Project | Emerald Heights Project | Emerald Heights Project | Emerald Heights Project |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 07/01/2048 | &nbsp;&nbsp; 5.000% | 500000 | &nbsp;&nbsp; 498087 |
| Washington State Housing Finance Commission<sup>(c)</sup>  | Washington State Housing Finance Commission<sup>(c)</sup>  | Washington State Housing Finance Commission<sup>(c)</sup>  | Washington State Housing Finance Commission<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Seattle Academy of Arts and Sciences Project | Seattle Academy of Arts and Sciences Project | Seattle Academy of Arts and Sciences Project | Seattle Academy of Arts and Sciences Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 07/01/2053 | &nbsp;&nbsp; 6.125% | 1175000 | &nbsp;&nbsp; 1244899 |
| 07/01/2059 | &nbsp;&nbsp; 6.250% | 1165000 | &nbsp;&nbsp; 1240182 |
| 07/01/2063 | &nbsp;&nbsp; 6.375% | 565000 | &nbsp;&nbsp; 603916 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Blakeley and Laurel Villages Portfolio | Blakeley and Laurel Villages Portfolio | Blakeley and Laurel Villages Portfolio | Blakeley and Laurel Villages Portfolio |
| Series 2025 (BAM) | Series 2025 (BAM) | Series 2025 (BAM) | Series 2025 (BAM) |
| 07/01/2045 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2513803 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **9970571** |
| **West Virginia 0.2%** | **West Virginia 0.2%** | **West Virginia 0.2%** | **West Virginia 0.2%** |
| West Virginia Economic Development Authority<sup>(b),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Commercial Metals Co. Project | Commercial Metals Co. Project | Commercial Metals Co. Project | Commercial Metals Co. Project |
| Series 2025 (Mandatory Put 05/15/32) | Series 2025 (Mandatory Put 05/15/32) | Series 2025 (Mandatory Put 05/15/32) | Series 2025 (Mandatory Put 05/15/32) |
| 04/15/2055 | &nbsp;&nbsp; 4.625% | 1600000 | &nbsp;&nbsp; 1636229 |
| West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  | West Virginia Economic Development Authority<sup>(b),(c),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Core Natural Resources, Inc. Project | Core Natural Resources, Inc. Project | Core Natural Resources, Inc. Project | Core Natural Resources, Inc. Project |
| Series 2025 (Mandatory Put 03/27/35) | Series 2025 (Mandatory Put 03/27/35) | Series 2025 (Mandatory Put 03/27/35) | Series 2025 (Mandatory Put 03/27/35) |
| 01/01/2055 | &nbsp;&nbsp; 5.450% | 1000000 | &nbsp;&nbsp; 1091377 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **2727606** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **Wisconsin 4.3%** | **Wisconsin 4.3%** | **Wisconsin 4.3%** | **Wisconsin 4.3%** |
| Public Finance Authority<sup>(c),(f),(j)</sup>  | Public Finance Authority<sup>(c),(f),(j)</sup>  | Public Finance Authority<sup>(c),(f),(j)</sup>  | Public Finance Authority<sup>(c),(f),(j)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Astro Texas Land Projects | Astro Texas Land Projects | Astro Texas Land Projects | Astro Texas Land Projects |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/15/2036 | &nbsp;&nbsp; 5.000% | 1915956 | &nbsp;&nbsp; 1915712 |
| Public Finance Authority | Public Finance Authority | Public Finance Authority | Public Finance Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Friends Homes | Friends Homes | Friends Homes | Friends Homes |
| Series 2019 | Series 2019 | Series 2019 | Series 2019 |
| 09/01/2039 | &nbsp;&nbsp; 5.000% | 2230000 | &nbsp;&nbsp; 2283032 |
| 09/01/2054 | &nbsp;&nbsp; 5.000% | 1000000 | &nbsp;&nbsp; 946031 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| ACTS Retirement - Life Communities | ACTS Retirement - Life Communities | ACTS Retirement - Life Communities | ACTS Retirement - Life Communities |
| Series 2020 | Series 2020 | Series 2020 | Series 2020 |
| 11/15/2037 | &nbsp;&nbsp; 4.000% | 2000000 | &nbsp;&nbsp; 2033237 |
| Coral Academy Science Las Vegas | Coral Academy Science Las Vegas | Coral Academy Science Las Vegas | Coral Academy Science Las Vegas |
| Series 2018 | Series 2018 | Series 2018 | Series 2018 |
| 07/01/2055 | &nbsp;&nbsp; 5.000% | 2500000 | &nbsp;&nbsp; 2325912 |
| Series 2023A | Series 2023A | Series 2023A | Series 2023A |
| 07/01/2062 | &nbsp;&nbsp; 5.750% | 9450210 | &nbsp;&nbsp; 9863565 |
| Public Finance Authority<sup>(c)</sup>  | Public Finance Authority<sup>(c)</sup>  | Public Finance Authority<sup>(c)</sup>  | Public Finance Authority<sup>(c)</sup>  |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Legacy Hills Project | Legacy Hills Project | Legacy Hills Project | Legacy Hills Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 11/15/2045 | &nbsp;&nbsp; 6.000% | 5000000 | &nbsp;&nbsp; 4849433 |
| Mary's Woods at Marylhurst | Mary's Woods at Marylhurst | Mary's Woods at Marylhurst | Mary's Woods at Marylhurst |
| Series 2017 | Series 2017 | Series 2017 | Series 2017 |
| 05/15/2042 | &nbsp;&nbsp; 5.250% | 410000 | &nbsp;&nbsp; 412933 |
| 05/15/2047 | &nbsp;&nbsp; 5.250% | 220000 | &nbsp;&nbsp; 219371 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Bonnie Cone Classical Academy | Bonnie Cone Classical Academy | Bonnie Cone Classical Academy | Bonnie Cone Classical Academy |
| Series 2024 | Series 2024 | Series 2024 | Series 2024 |
| 06/15/2059 | &nbsp;&nbsp; 5.625% | 3880000 | &nbsp;&nbsp; 2967189 |
| Bridgewater Project | Bridgewater Project | Bridgewater Project | Bridgewater Project |
| RAN Series 2024 | RAN Series 2024 | RAN Series 2024 | RAN Series 2024 |
| 12/15/2030 | &nbsp;&nbsp; 5.625% | 2637216 | &nbsp;&nbsp; 2645795 |
| Candela Project | Candela Project | Candela Project | Candela Project |
| Series 2023 | Series 2023 | Series 2023 | Series 2023 |
| 12/15/2029 | &nbsp;&nbsp; 6.125% | 400000 | &nbsp;&nbsp; 405534 |
| Mayfair Project | Mayfair Project | Mayfair Project | Mayfair Project |
| RAN Series 2024A-4 | RAN Series 2024A-4 | RAN Series 2024A-4 | RAN Series 2024A-4 |
| 11/15/2032 | &nbsp;&nbsp; 5.500% | 1481445 | &nbsp;&nbsp; 1485897 |
| Public Finance Authority<sup>(c),(e)</sup>  | Public Finance Authority<sup>(c),(e)</sup>  | Public Finance Authority<sup>(c),(e)</sup>  | Public Finance Authority<sup>(c),(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Driftwood Golf and Ranch Club Project | Driftwood Golf and Ranch Club Project | Driftwood Golf and Ranch Club Project | Driftwood Golf and Ranch Club Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/15/2039 | &nbsp;&nbsp; 0.000% | 1795000 | &nbsp;&nbsp; 743099 |
| Heritage Bend Project | Heritage Bend Project | Heritage Bend Project | Heritage Bend Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 12/15/2042 | &nbsp;&nbsp; 0.000% | 5500000 | &nbsp;&nbsp; 1705166 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** | **Municipal Bonds (continued)** |
| **Issue Description** | **Coupon**<br> **Rate**<br>| **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| Public Finance Authority<sup>(c),(h)</sup>  | Public Finance Authority<sup>(c),(h)</sup>  | Public Finance Authority<sup>(c),(h)</sup>  | Public Finance Authority<sup>(c),(h)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Subordinated Series 2023B | Subordinated Series 2023B | Subordinated Series 2023B | Subordinated Series 2023B |
| 07/01/2062 | &nbsp;&nbsp; 0.000% | 5000000 | &nbsp;&nbsp; 4081250 |
| University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Green Bonds - University of Wisconsin Hospital | Green Bonds - University of Wisconsin Hospital | Green Bonds - University of Wisconsin Hospital | Green Bonds - University of Wisconsin Hospital |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 04/01/2046 | &nbsp;&nbsp; 4.000% | 7000000 | &nbsp;&nbsp; 6545533 |
| Wisconsin Center District<sup>(e)</sup>  | Wisconsin Center District<sup>(e)</sup>  | Wisconsin Center District<sup>(e)</sup>  | Wisconsin Center District<sup>(e)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Junior Dedicated | Junior Dedicated | Junior Dedicated | Junior Dedicated |
| Series 2020D (AGM) | Series 2020D (AGM) | Series 2020D (AGM) | Series 2020D (AGM) |
| 12/15/2055 | &nbsp;&nbsp; 0.000% | 5000000 | &nbsp;&nbsp; 1152554 |
| Wisconsin Health & Educational Facilities Authority | Wisconsin Health & Educational Facilities Authority | Wisconsin Health & Educational Facilities Authority | Wisconsin Health & Educational Facilities Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Cedar Crest, Inc. Project | Cedar Crest, Inc. Project | Cedar Crest, Inc. Project | Cedar Crest, Inc. Project |
| Series 2022 | Series 2022 | Series 2022 | Series 2022 |
| 04/01/2057 | &nbsp;&nbsp; 5.125% | 5000000 | &nbsp;&nbsp; 4357023 |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Chiara Housing and Services, Inc. Project | Chiara Housing and Services, Inc. Project | Chiara Housing and Services, Inc. Project | Chiara Housing and Services, Inc. Project |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 07/01/2060 | &nbsp;&nbsp; 6.625% | 2000000 | &nbsp;&nbsp; 2086084 |
| Covenant Communities, Inc. Project | Covenant Communities, Inc. Project | Covenant Communities, Inc. Project | Covenant Communities, Inc. Project |
| Series 2018A | Series 2018A | Series 2018A | Series 2018A |
| 07/01/2048 | &nbsp;&nbsp; 4.000% | 4665000 | &nbsp;&nbsp; 3714254 |
| Series 2018B | Series 2018B | Series 2018B | Series 2018B |
| 07/01/2033 | &nbsp;&nbsp; 4.250% | 1250000 | &nbsp;&nbsp; 1227722 |
| Marshfield Clinic Health System | Marshfield Clinic Health System | Marshfield Clinic Health System | Marshfield Clinic Health System |
| Series 2024 (BAM) | Series 2024 (BAM) | Series 2024 (BAM) | Series 2024 (BAM) |
| 02/15/2054 | &nbsp;&nbsp; 5.500% | 3245000 | &nbsp;&nbsp; 3393457 |
| PHW Muskego, Inc. Project | PHW Muskego, Inc. Project | PHW Muskego, Inc. Project | PHW Muskego, Inc. Project |
| Series 2021 | Series 2021 | Series 2021 | Series 2021 |
| 10/01/2061 | &nbsp;&nbsp; 4.000% | 4465000 | &nbsp;&nbsp; 3057101 |
| Wisconsin Housing & Economic Development Authority | Wisconsin Housing & Economic Development Authority | Wisconsin Housing & Economic Development Authority | Wisconsin Housing & Economic Development Authority |
| Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds | Refunding Revenue Bonds |
| Series 2020A | Series 2020A | Series 2020A | Series 2020A |
| 09/01/2035 | &nbsp;&nbsp; 2.700% | 1000000 | &nbsp;&nbsp; 932617 |
| 03/01/2039 | &nbsp;&nbsp; 3.000% | 195000 | &nbsp;&nbsp; 180329 |
| Wisconsin Housing & Economic Development Authority Home Ownership | Wisconsin Housing & Economic Development Authority Home Ownership | Wisconsin Housing & Economic Development Authority Home Ownership | Wisconsin Housing & Economic Development Authority Home Ownership |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025A | Series 2025A | Series 2025A | Series 2025A |
| 09/01/2055 | &nbsp;&nbsp; 6.250% | 1765000 | &nbsp;&nbsp; 1978752 |
| **Total** | **Total** | **Total** | &nbsp;&nbsp; **67508582** |
| Total Municipal Bonds <br>(Cost $1,506,471,775) | Total Municipal Bonds <br>(Cost $1,506,471,775) | Total Municipal Bonds <br>(Cost $1,506,471,775) | &nbsp;&nbsp; **1465747388** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Municipal Short Term 0.2%** | **Municipal Short Term 0.2%** | **Municipal Short Term 0.2%** | **Municipal Short Term 0.2%** |
| **Issue Description** | **Yield** | **Principal**<br> **Amount ($)**<br>| **Value ($)** |
| **California 0.1%** | **California 0.1%** | **California 0.1%** | **California 0.1%** |
| California Infrastructure & Economic Development Bank<sup>(b),(d)</sup>  | California Infrastructure & Economic Development Bank<sup>(b),(d)</sup>  | California Infrastructure & Economic Development Bank<sup>(b),(d)</sup>  | California Infrastructure & Economic Development Bank<sup>(b),(d)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025 | Series 2025 | Series 2025 | Series 2025 |
| 01/01/2065 | &nbsp;&nbsp; 16.000% | 1535000 | &nbsp;&nbsp; 1151250 |
| **Illinois 0.1%** | **Illinois 0.1%** | **Illinois 0.1%** | **Illinois 0.1%** |
| Illinois Finance Authority<sup>(b),(c)</sup>  | Illinois Finance Authority<sup>(b),(c)</sup>  | Illinois Finance Authority<sup>(b),(c)</sup>  | Illinois Finance Authority<sup>(b),(c)</sup>  |
| Revenue Bonds | Revenue Bonds | Revenue Bonds | Revenue Bonds |
| Series 2025 (Mandatory Put 07/02/35) | Series 2025 (Mandatory Put 07/02/35) | Series 2025 (Mandatory Put 07/02/35) | Series 2025 (Mandatory Put 07/02/35) |
| 12/01/2043 | &nbsp;&nbsp; 4.470% | 2100000 | &nbsp;&nbsp; 2184778 |
| Total Municipal Short Term <br>(Cost $3,558,250) | Total Municipal Short Term <br>(Cost $3,558,250) | Total Municipal Short Term <br>(Cost $3,558,250) | &nbsp;&nbsp; **3336028** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Warrants 0.0%** | **Warrants 0.0%** | **Warrants 0.0%** |
| **Issuer** | **Shares** | **Value ($)** |
| **United States 0.0%** | **United States 0.0%** | **United States 0.0%** |
| BL Train Holdings West LLC<sup>(k),(l),(m)</sup> <br>| &nbsp;&nbsp; 15540 | &nbsp;&nbsp; 156 |
| Total Warrants <br>(Cost $2) | Total Warrants <br>(Cost $2) | &nbsp;&nbsp; **156** |

---

---

| | | |
|:---|:---|:---|
| **Money Market Funds 4.2%** | **Money Market Funds 4.2%** | **Money Market Funds 4.2%** |
|  | **Shares** | **Value ($)** |
| BlackRock Liquidity Funds MuniCash, <br> Institutional Shares, 2.029%<sup>(n)</sup> <br>| &nbsp;&nbsp; 66786221 | &nbsp;&nbsp; 66786221 |
| Total Money Market Funds <br>(Cost $66,786,221) | Total Money Market Funds <br>(Cost $66,786,221) | &nbsp;&nbsp; **66786221** |
| **Total Investments in Securities** <br>**(Cost $1,605,711,248)** | **Total Investments in Securities** <br>**(Cost $1,605,711,248)** | &nbsp;&nbsp; **1564764793** |
| **Other Assets & Liabilities, Net** |  | &nbsp;&nbsp; **12324627** |
| **Net Assets** | **Net Assets** | &nbsp;&nbsp; **$1577089420** |

---

**Notes to Portfolio of Investments** 

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fund is entitled to receive principal and interest from the guarantor after a day or a week's notice or upon maturity. The maturity date disclosed represents the final maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At January 31, 2026, the total value of these securities amounted to $134,333,110, which represents 8.52% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Income from this security may be subject to alternative minimum tax.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Zero coupon bond.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Represents a security in default.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Coupon rate may change periodically and is determined by the issuer or agent bank based on current market conditions.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At January 31, 2026, the total value of these securities amounted to $83,282,307, which represents 5.28% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Partial payment received at last interest date.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At January 31, 2026, the total value of these securities amounted to $156, which represents less than 0.01% of total net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Non-income producing investment.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Valuation based on significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(n) The rate shown is the seven-day current annualized yield at January 31, 2026.

**Abbreviation Legend** 

ACA ACA Financial Guaranty Corporation <br> AGM Assured Guaranty Municipal Corporation <br> BAM Build America Mutual Assurance Co.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Portfolio of Investments (continued)

January 31, 2026 (Unaudited)

**Abbreviation Legend (continued)**

FHA Federal Housing Authority <br> GNMA Government National Mortgage Association <br> RAN Revenue Anticipation Note

**Fair value measurements** 

The Fund categorizes its fair value measurements according to a three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing that the most observable input be used when available. Observable inputs are those that market participants would use in pricing an investment based on market data obtained from sources independent of the reporting entity. Unobservable inputs are those that reflect the Fund's assumptions about the information market participants would use in pricing an investment. An investment's level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset's or liability's fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.

Fair value inputs are summarized in the three broad levels listed below:

■

Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments.

■

Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.).

■

Level 3 — Valuations based on significant unobservable inputs (including the Fund's own assumptions and judgment in determining the fair value of investments).

Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment's fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.

Investments falling into the Level 3 category, if any, are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.

The Fund's Board of Trustees (the Board) has designated the Investment Manager, through its Valuation Committee (the Committee), as valuation designee, responsible for determining the fair value of the assets of the Fund for which market quotations are not readily available using valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager's organization, including operations and accounting, trading and investments, compliance, risk management and legal.

The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. Representatives of Columbia Management Investment Advisers, LLC report to the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.

The following table is a summary of the inputs used to value the Fund's investments at January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** | **Total ($)** |
| **Investments in Securities** |  |  |  |  |
| Floating Rate Notes |  | &nbsp;&nbsp;&nbsp;&nbsp; 28895000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28895000 |
| Municipal Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp; 1465747388 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1465747388 |
| Municipal Short Term |  | &nbsp;&nbsp;&nbsp;&nbsp; 3336028 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3336028 |
| Warrants |  |  |  |  |
| Financials |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| Total Warrants |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 156 |
| Money Market Funds | 66786221 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66786221 |
| Total Investments in Securities | 66786221 | &nbsp;&nbsp;&nbsp;&nbsp; 1497978416 | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 1564764793 |

---

See the Portfolio of Investments for all investment classifications not indicated in the table.

The Fund's assets assigned to the Level 2 input category are generally valued using the market approach, in which a security's value is determined through reference to prices and information from market transactions for similar or identical assets.

The Fund does not hold any significant investments (greater than one percent of net assets) categorized as Level 3.

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Statement of Assets and Liabilities

January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets** |  |
| Investments in securities, at value |  |
| Unaffiliated issuers (cost $1,605,711,248) | $1564764793 |
| Receivable for: |  |
| Capital shares sold | 6062577 |
| Dividends | 39174 |
| Interest | 14838881 |
| Expense reimbursement due from Investment Manager | 2847 |
| Prepaid expenses | 6840 |
| Other assets | 9018 |
| Total assets | 1585724130 |
| **Liabilities** |  |
| Due to custodian | 103257 |
| Payable for: |  |
| Capital shares redeemed | 2740905 |
| Distributions to shareholders | 5469848 |
| Management services fees | 20057 |
| Distribution and/or service fees | 4475 |
| Transfer agent fees | 86048 |
| Compensation of chief compliance officer | 134 |
| Compensation of board members | 1650 |
| Other expenses | 675 |
| Deferred compensation of board members | 207661 |
| Total liabilities | 8634710 |
| **Net assets applicable to outstanding capital stock** | **$1577089420** |
| **Represented by** |  |
| Paid in capital | 1866406722 |
| Total distributable earnings (loss) | (289317302)<br>|
| **Total - representing net assets applicable to outstanding capital stock** | **$1577089420** |
| **Class A** |  |
| Net assets | $548331419 |
| Shares outstanding | 37583917 |
| Net asset value per share | $14.59 |
| 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) | $15.04 |
| **Class C** |  |
| Net assets | $26522012 |
| Shares outstanding | 1816690 |
| Net asset value per share | $14.60 |
| **Institutional Class** |  |
| Net assets | $867624610 |
| Shares outstanding | 59586048 |
| Net asset value per share | $14.56 |
| **Institutional 2 Class** |  |
| Net assets | $54983307 |
| Shares outstanding | 3775793 |
| Net asset value per share | $14.56 |
| **Institutional 3 Class** |  |
| Net assets | $74494980 |
| Shares outstanding | 5108141 |
| Net asset value per share | $14.58 |
| **Class S** |  |
| Net assets | $5133092 |
| Shares outstanding | 352500 |
| Net asset value per share | $14.56 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Statement of Operations

Six Months Ended January 31, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Net investment income** |  |
| Income: |  |
| Dividends — unaffiliated issuers | $199728 |
| Interest | 36736582 |
| Total income | 36936310 |
| Expenses: |  |
| Management services fees | 3749793 |
| Distribution and/or service fees |  |
| Class A | 706553 |
| Class C | 147841 |
| Transfer agent fees |  |
| Class A | 180438 |
| Class C | 9444 |
| Institutional Class | 276889 |
| Institutional 2 Class | 14333 |
| Institutional 3 Class | 2525 |
| Class S | 1922 |
| Custodian fees | 9206 |
| Printing and postage fees | 29519 |
| Registration fees | 76495 |
| Accounting services fees | 16256 |
| Legal fees | 67084 |
| Compensation of chief compliance officer | 134 |
| Compensation of board members | 14155 |
| Deferred compensation of board members | 25593 |
| Other | 19322 |
| Total expenses | 5347502 |
| Fees waived or expenses reimbursed by Investment Manager and its affiliates | (510177)<br>|
| Total net expenses | 4837325 |
| **Net investment income** | 32098985 |
| **Realized and unrealized gain (loss) — net** |  |
| Net realized gain (loss) on: |  |
| Investments — unaffiliated issuers | (20011932)<br>|
| Net realized loss | (20011932)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments — unaffiliated issuers | 101376745 |
| Net change in unrealized appreciation (depreciation) | 101376745 |
| Net realized and unrealized gain | 81364813 |
| **Net increase in net assets resulting from operations** | **$113463798** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Statement of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** <br>**January 31, 2026** <br>**(Unaudited)**<br>| **Year Ended** <br>**July 31, 2025**<br>|
| **Operations** |  |  |
| Net investment income | $32098985 | &nbsp;&nbsp; $69468176 |
| Net realized loss | (20011932)<br>| &nbsp;&nbsp; (46741994)<br>|
| Net change in unrealized appreciation (depreciation) | 101376745 | &nbsp;&nbsp; (74025267)<br>|
| Net increase (decrease) in net assets resulting from operations | 113463798 | &nbsp;&nbsp; (51299085)<br>|
| **Distributions to shareholders** |  |  |
| Net investment income and net realized gains  |  |  |
| Class A | (10764948)<br>| &nbsp;&nbsp; (22931671)<br>|
| Advisor Class |  | &nbsp;&nbsp; (486562)<br>|
| Class C | (450892)<br>| &nbsp;&nbsp; (1130004)<br>|
| Institutional Class | (17613814)<br>| &nbsp;&nbsp; (38036001)<br>|
| Institutional 2 Class | (1072229)<br>| &nbsp;&nbsp; (1915028)<br>|
| Institutional 3 Class | (1879050)<br>| &nbsp;&nbsp; (5279648)<br>|
| Class S | (121693)<br>| &nbsp;&nbsp; (266135)<br>|
| Total distributions to shareholders | (31902626)<br>| &nbsp;&nbsp; (70045049)<br>|
| Decrease in net assets from capital stock activity | (135153194)<br>| &nbsp;&nbsp; (51344380)<br>|
| Total decrease in net assets | (53592022)<br>| &nbsp;&nbsp; (172688514)<br>|
| Net assets at beginning of period | 1630681442 | &nbsp;&nbsp; 1803369956 |
| **Net assets at end of period** | **$1577089420** | &nbsp;&nbsp; **$1630681442** |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Statement of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **July 31, 2025**  | **July 31, 2025**  |
|  | **Shares** | **Dollars ($)** | **Shares** | **Dollars ($)** |
| **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** | **Capital stock activity** |
| Class A |  |  |  |  |
| Shares sold | 2833777 | &nbsp;&nbsp;&nbsp;&nbsp; 40781229 | &nbsp;&nbsp;&nbsp;&nbsp; 7372943 | &nbsp;&nbsp;&nbsp;&nbsp; 107316738 |
| Distributions reinvested | 721363 | &nbsp;&nbsp;&nbsp;&nbsp; 10428662 | &nbsp;&nbsp;&nbsp;&nbsp; 1524024 | &nbsp;&nbsp;&nbsp;&nbsp; 22204804 |
| Shares redeemed | (6158415)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (88795953)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (11738025)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (170550130)<br>|
| Net decrease | (2603275)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (37586062)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2841058)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (41028588)<br>|
| Advisor Class |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 165260 | &nbsp;&nbsp;&nbsp;&nbsp; 2463664 |
| Distributions reinvested |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26250 | &nbsp;&nbsp;&nbsp;&nbsp; 391752 |
| Shares redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2879011)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (42883276)<br>|
| Net decrease |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2687501)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (40027860)<br>|
| Class C |  |  |  |  |
| Shares sold | 103610 | &nbsp;&nbsp;&nbsp;&nbsp; 1504269 | &nbsp;&nbsp;&nbsp;&nbsp; 457176 | &nbsp;&nbsp;&nbsp;&nbsp; 6652188 |
| Distributions reinvested | 29972 | &nbsp;&nbsp;&nbsp;&nbsp; 433410 | &nbsp;&nbsp;&nbsp;&nbsp; 73875 | &nbsp;&nbsp;&nbsp;&nbsp; 1077665 |
| Shares redeemed | (523249)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7572565)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1160120)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (16824796)<br>|
| Net decrease | (389667)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5634886)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (629069)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9094943)<br>|
| Institutional Class |  |  |  |  |
| Shares sold | 9686748 | &nbsp;&nbsp;&nbsp;&nbsp; 139573161 | &nbsp;&nbsp;&nbsp;&nbsp; 27894756 | &nbsp;&nbsp;&nbsp;&nbsp; 406177552 |
| Distributions reinvested | 1118064 | &nbsp;&nbsp;&nbsp;&nbsp; 16127474 | &nbsp;&nbsp;&nbsp;&nbsp; 2411527 | &nbsp;&nbsp;&nbsp;&nbsp; 35037101 |
| Shares redeemed | (14078201)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (202328774)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (28357455)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (407553667)<br>|
| Net increase (decrease) | (3273389)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (46628139)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1948828 | &nbsp;&nbsp;&nbsp;&nbsp; 33660986 |
| Institutional 2 Class |  |  |  |  |
| Shares sold | 840447 | &nbsp;&nbsp;&nbsp;&nbsp; 11893982 | &nbsp;&nbsp;&nbsp;&nbsp; 1255075 | &nbsp;&nbsp;&nbsp;&nbsp; 18282431 |
| Distributions reinvested | 74246 | &nbsp;&nbsp;&nbsp;&nbsp; 1072184 | &nbsp;&nbsp;&nbsp;&nbsp; 131670 | &nbsp;&nbsp;&nbsp;&nbsp; 1914363 |
| Shares redeemed | (297454)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4269465)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1326104)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (19197270)<br>|
| Net increase | 617239 | &nbsp;&nbsp;&nbsp;&nbsp; 8696701 | &nbsp;&nbsp;&nbsp;&nbsp; 60641 | &nbsp;&nbsp;&nbsp;&nbsp; 999524 |
| Institutional 3 Class |  |  |  |  |
| Shares sold | 754299 | &nbsp;&nbsp;&nbsp;&nbsp; 10840495 | &nbsp;&nbsp;&nbsp;&nbsp; 2565157 | &nbsp;&nbsp;&nbsp;&nbsp; 37289218 |
| Distributions reinvested | 85551 | &nbsp;&nbsp;&nbsp;&nbsp; 1235938 | &nbsp;&nbsp;&nbsp;&nbsp; 187825 | &nbsp;&nbsp;&nbsp;&nbsp; 2735380 |
| Shares redeemed | (4416714)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (63913202)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3006294)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (43509555)<br>|
| Net decrease | (3576864)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (51836769)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (253312)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3484957)<br>|
| Class S |  |  |  |  |
| Shares sold |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 656311 | &nbsp;&nbsp;&nbsp;&nbsp; 9880075 |
| Distributions reinvested | 8446 | &nbsp;&nbsp;&nbsp;&nbsp; 121692 | &nbsp;&nbsp;&nbsp;&nbsp; 18388 | &nbsp;&nbsp;&nbsp;&nbsp; 266070 |
| Shares redeemed | (157556)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2285731)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (173089)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2514687)<br>|
| Net increase (decrease) | (149110)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2164039)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 501610 | &nbsp;&nbsp;&nbsp;&nbsp; 7631458 |
| **Total net decrease** | **(9375066)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(135153194)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(3899861)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(51344380)**<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Financial Highlights

The following table is intended to help you understand the Fund's financial performance. Certain information reflects financial results for a single share of a class held for the periods shown. Per share net investment income (loss) amounts are calculated based on average shares outstanding during the period. Total return assumes reinvestment of all dividends and distributions, if any. Total return does not reflect payment of sales charges, if any. Total return and portfolio turnover are not annualized for periods of less than one year. The ratios of expenses and net investment income are annualized for periods of less than one year. The portfolio turnover rate is calculated without regard to purchase and sales transactions of short-term instruments and certain derivatives, if any. If such transactions were included, the Fund's portfolio turnover rate may be higher. A zero balance may reflect an amount rounding to less than $0.01 or 0.01%.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | $13.88 | 0.28 | 0.71 | 0.99 | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.28)<br>|
| Year Ended 7/31/2025 | $14.86 | 0.54 | &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.55)<br>|
| Year Ended 7/31/2024 | $14.41 | 0.53 | 0.47 | 1.00 | &nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.55)<br>|
| Year Ended 7/31/2023 | $15.07 | 0.47 | &nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.48)<br>|
| Year Ended 7/31/2022 | $17.28 | 0.36 | &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp; (1.78)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.43)<br>|
| Year Ended 7/31/2021<sup>(g)</sup> <br>| $16.69 | 0.37 | 0.59 | 0.96 | &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | $13.89 | 0.22 | 0.71 | 0.93 | &nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.22)<br>|
| Year Ended 7/31/2025 | $14.87 | 0.43 | &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (0.54)<br>| &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.44)<br>|
| Year Ended 7/31/2024 | $14.42 | 0.42 | 0.47 | 0.89 | &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.44)<br>|
| Year Ended 7/31/2023 | $15.08 | 0.36 | &nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.37)<br>|
| Year Ended 7/31/2022 | $17.29 | 0.24 | &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp; (1.90)<br>| &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.31)<br>|
| Year Ended 7/31/2021<sup>(g)</sup> <br>| $16.71 | 0.25 | 0.58 | 0.83 | &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.25)<br>|
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $13.85 | 0.29 | 0.71 | 1.00 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.29)<br>|
| Year Ended 7/31/2025 | $14.83 | 0.58 | &nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.58)<br>|
| Year Ended 7/31/2024 | $14.38 | 0.56 | 0.47 | 1.03 | &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.58)<br>|
| Year Ended 7/31/2023 | $15.04 | 0.50 | &nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp; (0.51)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.51)<br>|
| Year Ended 7/31/2022 | $17.25 | 0.40 | &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.47)<br>|
| Year Ended 7/31/2021<sup>(g)</sup> <br>| $16.66 | 0.41 | 0.59 | 1.00 | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.41)<br>|
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $13.86 | 0.30 | 0.69 | 0.99 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.29)<br>|
| Year Ended 7/31/2025 | $14.83 | 0.58 | &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.58)<br>|
| Year Ended 7/31/2024 | $14.38 | 0.57 | 0.46 | 1.03 | &nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.58)<br>|
| Year Ended 7/31/2023 | $15.04 | 0.50 | &nbsp;&nbsp; (0.64)<br>| &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.52)<br>|
| Year Ended 7/31/2022 | $17.25 | 0.40 | &nbsp;&nbsp; (2.14)<br>| &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.47)<br>|
| Year Ended 7/31/2021<sup>(g)</sup> <br>| $16.66 | 0.41 | 0.60 | 1.01 | &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.42)<br>|

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $14.59 | &nbsp;&nbsp;&nbsp;&nbsp; 7.14% | &nbsp;&nbsp;&nbsp;&nbsp; 0.81% | &nbsp;&nbsp;&nbsp;&nbsp; 0.75% | &nbsp;&nbsp;&nbsp;&nbsp; 3.83% | &nbsp;&nbsp;&nbsp;&nbsp; 8% | &nbsp;&nbsp;&nbsp;&nbsp; $548331 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.88 | &nbsp;&nbsp;&nbsp;&nbsp; (3.03%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.70% | &nbsp;&nbsp;&nbsp;&nbsp; 27% | &nbsp;&nbsp;&nbsp;&nbsp; $557882 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.86 | &nbsp;&nbsp;&nbsp;&nbsp; 7.13% | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.67% | &nbsp;&nbsp;&nbsp;&nbsp; 33% | &nbsp;&nbsp;&nbsp;&nbsp; $639344 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.41 | &nbsp;&nbsp;&nbsp;&nbsp; (1.11%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.77% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.24% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $660007 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $15.07 | &nbsp;&nbsp;&nbsp;&nbsp; (10.43%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(c),(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.24% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $760677 |
|  Year Ended 7/31/2021 <br><sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.28 | &nbsp;&nbsp;&nbsp;&nbsp; 5.91% | &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78% <br><sup>(f),(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.21% | &nbsp;&nbsp;&nbsp;&nbsp; 14% | &nbsp;&nbsp;&nbsp;&nbsp; $916301 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $14.60 | &nbsp;&nbsp;&nbsp;&nbsp; 6.73% | &nbsp;&nbsp;&nbsp;&nbsp; 1.56% | &nbsp;&nbsp;&nbsp;&nbsp; 1.50% | &nbsp;&nbsp;&nbsp;&nbsp; 3.08% | &nbsp;&nbsp;&nbsp;&nbsp; 8% | &nbsp;&nbsp;&nbsp;&nbsp; $26522 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.89 | &nbsp;&nbsp;&nbsp;&nbsp; (3.76%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.94% | &nbsp;&nbsp;&nbsp;&nbsp; 27% | &nbsp;&nbsp;&nbsp;&nbsp; $30648 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.87 | &nbsp;&nbsp;&nbsp;&nbsp; 6.32% | &nbsp;&nbsp;&nbsp;&nbsp; 1.57% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.51% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.91% | &nbsp;&nbsp;&nbsp;&nbsp; 33% | &nbsp;&nbsp;&nbsp;&nbsp; $42157 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.42 | &nbsp;&nbsp;&nbsp;&nbsp; (1.85%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.48% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $52403 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $15.08 | &nbsp;&nbsp;&nbsp;&nbsp; (11.09%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53% <br><sup>(c),(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.48% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $69643 |
|  Year Ended 7/31/2021 <br><sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.29 | &nbsp;&nbsp;&nbsp;&nbsp; 4.93% | &nbsp;&nbsp;&nbsp;&nbsp; 1.53% <br><sup>(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53% <br><sup>(f),(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.46% | &nbsp;&nbsp;&nbsp;&nbsp; 14% | &nbsp;&nbsp;&nbsp;&nbsp; $90170 |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $14.56 | &nbsp;&nbsp;&nbsp;&nbsp; 7.28% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp;&nbsp; 4.09% | &nbsp;&nbsp;&nbsp;&nbsp; 8% | &nbsp;&nbsp;&nbsp;&nbsp; $867625 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.85 | &nbsp;&nbsp;&nbsp;&nbsp; (2.80%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.96% | &nbsp;&nbsp;&nbsp;&nbsp; 27% | &nbsp;&nbsp;&nbsp;&nbsp; $870914 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.83 | &nbsp;&nbsp;&nbsp;&nbsp; 7.40% | &nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.93% | &nbsp;&nbsp;&nbsp;&nbsp; 33% | &nbsp;&nbsp;&nbsp;&nbsp; $903278 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.38 | &nbsp;&nbsp;&nbsp;&nbsp; (0.87%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.47% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $840109 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $15.04 | &nbsp;&nbsp;&nbsp;&nbsp; (10.22%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(c),(d),(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.45% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $1068842 |
|  Year Ended 7/31/2021 <br><sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.25 | &nbsp;&nbsp;&nbsp;&nbsp; 6.00% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(f),(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.46% | &nbsp;&nbsp;&nbsp;&nbsp; 14% | &nbsp;&nbsp;&nbsp;&nbsp; $1559431 |
| **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** | **Institutional 2 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $14.56 | &nbsp;&nbsp;&nbsp;&nbsp; 7.21% | &nbsp;&nbsp;&nbsp;&nbsp; 0.55% | &nbsp;&nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp; 4.10% | &nbsp;&nbsp;&nbsp;&nbsp; 8% | &nbsp;&nbsp;&nbsp;&nbsp; $54983 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.86 | &nbsp;&nbsp;&nbsp;&nbsp; (2.73%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.96% | &nbsp;&nbsp;&nbsp;&nbsp; 27% | &nbsp;&nbsp;&nbsp;&nbsp; $43765 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.83 | &nbsp;&nbsp;&nbsp;&nbsp; 7.41% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.95% | &nbsp;&nbsp;&nbsp;&nbsp; 33% | &nbsp;&nbsp;&nbsp;&nbsp; $45945 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.38 | &nbsp;&nbsp;&nbsp;&nbsp; (0.86%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.47% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $27632 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $15.04 | &nbsp;&nbsp;&nbsp;&nbsp; (10.22%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(c),(d),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.44% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $40187 |
|  Year Ended 7/31/2021 <br><sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.25 | &nbsp;&nbsp;&nbsp;&nbsp; 6.01% | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% <br><sup>(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52% <br><sup>(f),(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.47% | &nbsp;&nbsp;&nbsp;&nbsp; 14% | &nbsp;&nbsp;&nbsp;&nbsp; $62604 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Net asset value,** <br>**beginning of** <br>**period**<br>| **Net** <br>**investment** <br>**income**<br>| **Net** <br>**realized** <br>**and** <br>**unrealized** <br>**gain (loss)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Distributions** <br>**from net** <br>**investment** <br>**income**<br>| **Distributions** <br>**from net** <br>**realized** <br>**gains**<br>| **Total** <br>**distributions to** <br>**shareholders**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | $13.88 | 0.30 | 0.70 | 1.00 | &nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.30)<br>|
| Year Ended 7/31/2025 | $14.85 | 0.58 | &nbsp;&nbsp; (0.96)<br>| &nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.59)<br>|
| Year Ended 7/31/2024 | $14.40 | 0.57 | 0.47 | 1.04 | &nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.59)<br>|
| Year Ended 7/31/2023 | $15.06 | 0.51 | &nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp; (0.52)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.52)<br>|
| Year Ended 7/31/2022 | $17.28 | 0.41 | &nbsp;&nbsp; (2.15)<br>| &nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp; (0.48)<br>|
| Year Ended 7/31/2021<sup>(g)</sup> <br>| $16.69 | 0.42 | 0.60 | 1.02 | &nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.43)<br>|
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | $13.86 | 0.29 | 0.70 | 0.99 | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.29)<br>|
| Year Ended 7/31/2025<sup>(i)</sup> <br>| $15.14 | 0.48 | &nbsp;&nbsp; (1.28)<br>| &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.48)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Notes to Financial Highlights**  | **Notes to Financial Highlights**  |
| (a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund's reported expense ratios. |
| (b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable.  |
| (c) | Ratios include interfund lending expense which is less than 0.01%. |
| (d) | Ratios include interest on collateral expense which is less than 0.01%. |
| (e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
| (f) | Ratios include the impact of voluntary waivers paid by the Investment Manager. If the Investment Manager had not paid these voluntary waivers, the Fund's net expense ratio would increase by less than 0.01%. |
| (g) | 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.  |
| (h) | Ratios include interest and fee expense related to the participation in certain inverse floater programs. If interest and fee expense related to the participation in certain <br> inverse floater programs had been excluded, expenses would have been lower by less than 0.01%. Due to an equal increase in interest income from fixed rate municipal <br> bonds held in trust, there is no impact on the Fund's net assets, net asset value per share, total return or net investment income.<br>|
| (i) | Class S shares commenced operations on October 2, 2024. Per share data and total return reflect activity from that date. |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

------

Financial Highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; **Net** <br>**asset** <br>**value,** <br>**end of** <br>**period**<br>| &nbsp;&nbsp;&nbsp; **Total** <br>**return**<br>| &nbsp;&nbsp;&nbsp; **Total gross** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; **Total net** <br>**expense** <br>**ratio to** <br>**average** <br>**net assets**<sup>(a),(b)</sup> <br>| &nbsp;&nbsp;&nbsp; **Net investment** <br>**income** <br>**ratio to** <br>**average** <br>**net assets**<br>| &nbsp;&nbsp;&nbsp; **Portfolio** <br>**turnover**<br>| &nbsp;&nbsp;&nbsp; **Net** <br>**assets,** <br>**end of** <br>**period** <br>**(000's)**<br>|
| **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** | **Institutional 3 Class** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $14.58 | &nbsp;&nbsp;&nbsp;&nbsp; 7.23% | &nbsp;&nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp;&nbsp; 0.44% | &nbsp;&nbsp;&nbsp;&nbsp; 4.13% | &nbsp;&nbsp;&nbsp;&nbsp; 8% | &nbsp;&nbsp;&nbsp;&nbsp; $74495 |
| Year Ended 7/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; $13.88 | &nbsp;&nbsp;&nbsp;&nbsp; (2.68%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.01% | &nbsp;&nbsp;&nbsp;&nbsp; 27% | &nbsp;&nbsp;&nbsp;&nbsp; $120522 |
| Year Ended 7/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp; $14.85 | &nbsp;&nbsp;&nbsp;&nbsp; 7.45% | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.45% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.97% | &nbsp;&nbsp;&nbsp;&nbsp; 33% | &nbsp;&nbsp;&nbsp;&nbsp; $132767 |
| Year Ended 7/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; $14.40 | &nbsp;&nbsp;&nbsp;&nbsp; (0.81%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.53% | &nbsp;&nbsp;&nbsp;&nbsp; 19% | &nbsp;&nbsp;&nbsp;&nbsp; $139010 |
| Year Ended 7/31/2022 | &nbsp;&nbsp;&nbsp;&nbsp; $15.06 | &nbsp;&nbsp;&nbsp;&nbsp; (10.21%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% <br><sup>(c),(d),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.55% | &nbsp;&nbsp;&nbsp;&nbsp; 29% | &nbsp;&nbsp;&nbsp;&nbsp; $165440 |
|  Year Ended 7/31/2021 <br><sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.28 | &nbsp;&nbsp;&nbsp;&nbsp; 6.24% | &nbsp;&nbsp;&nbsp;&nbsp; 0.48% <br><sup>(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47% <br><sup>(f),(h)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.51% | &nbsp;&nbsp;&nbsp;&nbsp; 14% | &nbsp;&nbsp;&nbsp;&nbsp; $181928 |
| **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** | **Class S** |
| Six Months Ended 1/31/2026 (Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; $14.56 | &nbsp;&nbsp;&nbsp;&nbsp; 7.21% | &nbsp;&nbsp;&nbsp;&nbsp; 0.56% | &nbsp;&nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp;&nbsp; 4.07% | &nbsp;&nbsp;&nbsp;&nbsp; 8% | &nbsp;&nbsp;&nbsp;&nbsp; $5133 |
|  Year Ended 7/31/2025 <br><sup>(i)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $13.86 | &nbsp;&nbsp;&nbsp;&nbsp; (5.37%)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50% <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.04% | &nbsp;&nbsp;&nbsp;&nbsp; 27% | &nbsp;&nbsp;&nbsp;&nbsp; $6950 |

---

The accompanying Notes to Financial Statements are an integral part of this statement.

Columbia Strategic Municipal Income Fund \| 2026

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Notes to Financial Statements

January 31, 2026 (Unaudited)

Note 1. Organization

Columbia Strategic Municipal Income Fund (the Fund), a series of Columbia Funds Series Trust II (the Trust), is a diversified fund. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**Fund shares**

The Trust may issue an unlimited number of shares (without par value). The Fund offers each of the share classes listed in the Statement of Assets and Liabilities. Although all share classes generally have identical voting, dividend and liquidation rights, each share class votes separately when required by the Trust's organizational documents or by law. Each share class has its own expense and sales charge structure. Different share classes may have different minimum initial investment amounts and pay different net investment income distribution amounts to the extent the expenses of distributing such share classes vary. Distributions to shareholders in a liquidation will be proportional to the net asset value of each share class.

As described in the Fund's prospectus, Class A and Class C shares are offered to the general public for investment. Class C shares automatically convert to Class A shares after 8 years. Institutional Class, Institutional 2 Class, Institutional 3 Class and Class S shares are available for purchase through authorized investment professionals to omnibus retirement plans or to institutional investors and to certain other investors as also described in the Fund's prospectus.

Note 2. Summary of significant accounting policies

**Basis of preparation**

The Fund is an investment company that applies the accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946, *Financial Services - Investment Companies* (ASC 946). The financial statements are prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

**Segment reporting**

The intent of FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures is to enable investors to better understand an entity's overall performance and to assess its potential future cash flows through improved segment disclosures. The chief operating decision maker (CODM) for the Fund is Columbia Management Investment Advisers, LLC through its Investment Oversight Committee and Global Executive Group, which are responsible for assessing performance and making decisions about resource allocation. The CODM has determined that the Fund has a single operating segment because the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information provided to and reviewed by the CODM is consistent with that presented within the Fund's financial statements.

**Security valuation**

Equity securities listed on an exchange are valued at the closing price or last trade price on their primary exchange at the close of business of the New York Stock Exchange. Securities with a closing price not readily available or not listed on any exchange are valued at the mean between the closing bid and ask prices. Listed preferred stocks convertible into common stocks are valued using an evaluated price from a pricing service.

Columbia Strategic Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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.

Investments in open-end investment companies (other than exchange-traded funds (ETFs)), are valued at the latest net asset value reported by those companies as of the valuation time.

Investments for which market quotations are not readily available, or that have quotations which management believes are not reflective of market value or reliable, are valued at fair value as determined in good faith under procedures approved by the Board of Trustees. If a security or class of securities (such as foreign securities) is valued at fair value, such value is likely to be different from the quoted or published price for the security, if available.

The determination of fair value often requires significant judgment. To determine fair value, management may use assumptions including but not limited to future cash flows and estimated risk premiums. Multiple inputs from various sources may be used to determine fair value.

GAAP requires disclosure regarding the inputs and valuation techniques used to measure fair value and any changes in valuation inputs or techniques. In addition, investments shall be disclosed by major category. This information is disclosed following the Fund's Portfolio of Investments.

**Security transactions**

Security transactions are accounted for on the trade date. Cost is determined and gains (losses) are based upon the specific identification method for both financial statement and federal income tax purposes.

**Income recognition**

Interest income is recorded on an accrual basis. Market premiums and discounts, including original issue discounts, are amortized and accreted, respectively, over the expected life of the security on all debt securities, unless otherwise noted.

The Fund may place a debt security on non-accrual status and reduce related interest income when it becomes probable that the interest will not be collected and the amount of uncollectible interest can be reasonably estimated. The Fund may also adjust accrual rates when it becomes probable the full interest will not be collected and a partial payment will be received. A defaulted debt security is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Corporate actions and dividend income are recorded on the ex-dividend date.

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.

Columbia Strategic Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Expenses**

General expenses of the Trust are allocated to the Fund and other funds of the Trust based upon relative net assets or other expense allocation methodologies determined by the nature of the expense. Expenses directly attributable to the Fund are charged to the Fund. Expenses directly attributable to a specific class of shares are charged to that share class.

**Determination of class net asset value**

All income, expenses (other than class-specific expenses, which are charged to that share class, as shown in the Statement of Operations) and realized and unrealized gains (losses) are allocated to each class of the Fund on a daily basis, based on the relative net assets of each class, for purposes of determining the net asset value of each class.

**Federal income tax status**

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended, and will distribute substantially all of its net tax-exempt and investment company taxable income and net capital gain, if any, for its tax year, and as such will not be subject to federal income taxes. In addition, the Fund intends to distribute in each calendar year substantially all of its ordinary income, capital gain net income and certain other amounts, if any, such that the Fund should not be subject to federal excise tax. Therefore, no federal income or excise tax provision is recorded.

**Distributions to shareholders**

Distributions from net investment income, if any, are declared daily and paid monthly. Net realized capital gains, if any, are distributed at least annually. Income distributions and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

**Guarantees and indemnifications**

Under the Trust's organizational documents and, in some cases, by contract, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust or its funds. In addition, certain of the Fund's contracts with its service providers contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined, and the Fund has no historical basis for predicting the likelihood of any such claims.

Note 3. Fees and other transactions with affiliates

**Management services fees**

The Fund has entered into a Management Agreement with Columbia Management Investment Advisers, LLC (the Investment Manager), a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). Under the Management Agreement, the Investment Manager provides the Fund with investment research and advice and is responsible for administrative and accounting services. The management services fee is an annual fee that is equal to a percentage of the Fund's daily net assets that declines from 0.48% to 0.29% as the Fund's net assets increase. The annualized effective management services fee rate for the six months ended January 31, 2026 was 0.47% of the Fund's average daily net assets.

**Compensation of Board members**

Members of the Board of Trustees who are not officers or employees of the Investment Manager or Ameriprise Financial are compensated for their services to the Fund as disclosed in the Statement of Operations. Under a Deferred Compensation Plan (the Deferred Plan), these members of the Board of Trustees may elect to defer payment of up to 100% of their compensation. Deferred amounts are treated as though equivalent dollar amounts had been invested in shares of certain funds managed by the Investment Manager. The Fund's liability for these amounts is adjusted for market value changes and remains in the Fund until distributed in accordance with the Deferred Plan. All amounts payable under the Deferred Plan constitute a general unsecured obligation of the Fund. The expense for the Deferred Plan, which includes Trustees' fees deferred during the current period as well as any gains or losses on the Trustees' deferred compensation balances as a result of market fluctuations, is included in "Deferred compensation of board members" in the Statement of Operations.

Columbia Strategic Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

**Compensation of Chief Compliance Officer**

The Board of Trustees has appointed a Chief Compliance Officer for the Fund in accordance with federal securities regulations. As disclosed in the Statement of Operations, a portion of the Chief Compliance Officer's total compensation is allocated to the Fund, along with other allocations to affiliated registered investment companies managed by the Investment Manager and its affiliates, based on relative net assets.

**Transfer agency fees**

Under a Transfer and Dividend Disbursing Agent Agreement, Columbia Management Investment Services Corp. (the Transfer Agent), an affiliate of the Investment Manager and a wholly-owned subsidiary of Ameriprise Financial, is responsible for providing transfer agency services to the Fund. The Transfer Agent has contracted with SS&C GIDS, Inc. (SS&C GIDS) to serve as sub-transfer agent. The Transfer Agent pays the fees of SS&C GIDS for services as sub-transfer agent and SS&C GIDS is not entitled to reimbursement for such fees from the Fund (with the exception of out-of-pocket fees).

The Fund pays the Transfer Agent a monthly transfer agency fee based on the number or the average value of accounts, depending on the type of account. In addition, the Fund pays the Transfer Agent a fee for shareholder services based on the number of accounts or on a percentage of the average aggregate value of the Fund's shares maintained in omnibus accounts up to the lesser of the amount charged by the financial intermediary or a cap established by the Board of Trustees from time to time.

The Transfer Agent also receives compensation from the Fund for various shareholder services and reimbursements for certain out-of-pocket fees. Total transfer agency fees for Institutional 2 Class and Institutional 3 Class shares are subject to an annual limitation of not more than 0.07% and 0.02%, respectively, of the average daily net assets attributable to each share class.

For the six months ended January 31, 2026, the Fund's annualized effective transfer agency fee rates as a percentage of average daily net assets of each class were as follows:

---

| | |
|:---|:---|
|  | **Effective rate (%)** |
| Class A | 0.06 |
| Class C | 0.06 |
| Institutional Class | 0.06 |
| Institutional 2 Class | 0.05 |
| Institutional 3 Class | 0.01 |
| Class S | 0.06 |

---

An annual minimum account balance fee of $20 may apply to certain accounts with a value below the applicable share class's initial minimum investment requirements to reduce the impact of small accounts on transfer agency fees. These minimum account balance fees are remitted to the Fund and recorded as part of expense reductions in the Statement of Operations. For the six months ended January 31, 2026, no minimum account balance fees were charged by the Fund.

**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. Under a Plan and Agreement of Distribution, the Fund pays a fee at the maximum annual rates of up to 0.25% and 1.00% of the Fund's average daily net assets attributable to Class A and Class C shares, respectively. For Class C shares, of the 1.00% fee, up to 0.75% can be reimbursed for distribution expenses and up to an additional 0.25% can be reimbursed for shareholder servicing expenses.

Columbia Strategic Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

The amount of distribution and shareholder services expenses incurred by the Distributor and not yet reimbursed (unreimbursed expense) was approximately $362,000 for Class C shares. This amount is based on the most recent information available as of December 31, 2025, and may be recovered from future payments under the distribution plan or contingent deferred sales charges (CDSCs). To the extent the unreimbursed expense has been fully recovered, the distribution and/or shareholder services fee is reduced.

**Sales charges** 

Sales charges, including front-end charges and CDSCs, received by the Distributor for distributing Fund shares for the six months ended January 31, 2026, if any, are listed below:

---

| | | |
|:---|:---|:---|
|  | **Front End (%)** | **Amount ($)** |
| Class A | 3.00<br> &nbsp;&nbsp;&nbsp;&nbsp; 0.75 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 51214 |
| Class C | —<br> &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 65 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This charge applies to redemptions within 12 months after purchase, with certain limited exceptions.

The Fund's other share classes are not subject to sales charges.

**Expenses waived/reimbursed by the Investment Manager and its affiliates**

The Investment Manager and certain of its affiliates have contractually agreed to waive fees and/or reimburse expenses (excluding certain fees and expenses described below) for the period(s) disclosed below, unless sooner terminated at the sole discretion of the Board of Trustees, so that the Fund's net operating expenses, after giving effect to fees waived/expenses reimbursed and any balance credits and/or overdraft charges from the Fund's custodian, do not exceed the following annual rate(s) as a percentage of the classes' average daily net assets:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **December 1, 2025** <br>**through** <br>**November 30, 2026 (%)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Prior to** <br>**December 1, 2025 (%)**<br>|
| Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50 |
| Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| Institutional 2 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| Institutional 3 Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 |
| Class S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |

---

Under the agreement governing these fee waivers and/or expense reimbursement arrangements, the following fees and expenses are excluded from the waiver/reimbursement commitment, and therefore will be paid by the Fund, if applicable: taxes (including foreign transaction taxes), expenses associated with investments in affiliated and non-affiliated pooled investment vehicles (including mutual funds and exchange-traded funds), transaction costs and brokerage commissions, costs related to any securities lending program, dividend expenses associated with securities sold short, inverse floater program fees and expenses, transaction charges and interest on borrowed money, interest, costs associated with shareholder meetings, infrequent and/or unusual expenses and any other expenses the exclusion of which is specifically approved by the Board of Trustees. This agreement may be modified or amended only with approval from the Investment Manager, certain of its affiliates and the Fund. Any fees waived and/or expenses reimbursed under the expense reimbursement arrangements described above are not recoverable by the Investment Manager or its affiliates in future periods.

Note 4. Federal tax information

The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP because of temporary or permanent book to tax differences.

Columbia Strategic Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

At January 31, 2026, the approximate cost of all investments for federal income tax purposes and the aggregate gross approximate unrealized appreciation and depreciation based on that cost was:

---

| | | | |
|:---|:---|:---|:---|
| **Federal** <br>**tax cost ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>**appreciation ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gross unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(depreciation) ($)**<br>|
| 1605711000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22761000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (63707000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40946000)<br>|

---

Tax cost of investments and unrealized appreciation/(depreciation) may also include timing differences that do not constitute adjustments to tax basis.

The following capital loss carryforwards, determined at July 31, 2025, may be available to reduce future net realized gains on investments, if any, to the extent permitted by the Internal Revenue Code.

---

| | | |
|:---|:---|:---|
| **No expiration** <br>**short-term ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **No expiration** <br>**long-term ($)**<br>| **Total ($)** |
| (98491535)<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; (126380321)<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; (224871856)<br>|

---

Management of the Fund has concluded that there are no significant uncertain tax positions in the Fund that would require recognition in the financial statements. However, management's conclusion may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). Generally, the Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Note 5. Portfolio information

The cost of purchases and proceeds from sales of securities, excluding short-term investments and derivatives, if any, aggregated to $119,785,738 and $312,783,704, respectively, for the six months ended January 31, 2026. The amount of purchase and sale activity impacts the portfolio turnover rate reported in the Financial Highlights.

Note 6. Interfund lending

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Fund participates in a program (the Interfund Program) allowing each participating Columbia Fund (each, a Participating Fund) to lend money directly to and, except for closed-end funds and money market funds, borrow money directly from other Participating Funds for temporary purposes. The amounts eligible for borrowing and lending under the Interfund Program are subject to certain restrictions.

Interfund loans are subject to the risk that the borrowing fund could be unable to repay the loan when due, and a delay in repayment to the lending fund could result in lost opportunities and/or additional lending costs. The exemptive order is subject to conditions intended to mitigate conflicts of interest arising from the Investment Manager's relationship with each Participating Fund.

The Fund did not borrow or lend money under the Interfund Program during the six months ended January 31, 2026.

Note 7. Line of credit

The Fund has access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. whereby the Fund may borrow for the temporary funding of shareholder redemptions or for other temporary or emergency purposes. Pursuant to an October 23, 2025 amendment and restatement, the credit facility, which is an agreement between the Fund and certain other funds managed by the Investment Manager or an affiliated investment manager, severally and not jointly, permits aggregate borrowings up to $750 million. Interest is currently charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case. Each borrowing under the credit facility matures no later than 60 days after the date of borrowing. The Fund also pays a commitment fee equal to its pro rata share of the unused amount of the credit facility at a rate of 0.15% per annum. The commitment fee is included in other expenses in the Statement of Operations. This agreement expires annually in October unless extended or renewed.

Columbia Strategic Municipal Income Fund \| 2026

------

Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

Prior to the October 23, 2025 amendment and restatement, the Fund had access to a revolving credit facility with a syndicate of banks led by JPMorgan Chase Bank, N.A., Citibank, N.A. and Wells Fargo Bank, N.A. which permitted collective borrowings up to $900 million. Interest was charged to each participating fund based on its borrowings at a rate equal to the higher of (i) the federal funds effective rate, (ii) the secured overnight financing rate plus 0.10% and (iii) the overnight bank funding rate, plus 1.00% in each case.

The Fund had no borrowings during the six months ended January 31, 2026.

Note 8. Risks and uncertainties

An investment in the Fund involves risks, including market risk and concentration risk, among others. The value of the Fund's holdings and the Fund's net asset value may go down. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally.

Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

To the extent that the Fund concentrates its investment in particular issuers, countries, geographic regions, industries or sectors, the Fund may be subject to greater risks of adverse developments in such areas of focus than a fund that invests in a wider variety of issuers, countries, geographic regions, industries, sectors or investments.

Additional risk factors of the Fund are described more fully in the Fund's Prospectus and Statement of Additional Information.

**Shareholder concentration risk**

At January 31, 2026, affiliated shareholders of record owned 47.5% of the outstanding shares of the Fund in one or more accounts. Fund shares sold to or redeemed by concentrated accounts may have a significant effect on the operations of the Fund. In the case of a large redemption, the Fund may be forced to sell investments at inopportune times, including its liquid positions, which may result in Fund losses and the Fund holding a higher percentage of less liquid positions. Large redemptions could result in decreased economies of scale and increased operating expenses for non-redeeming Fund shareholders.

Note 9. Subsequent events

Management has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements or additional disclosure.

Note 10. Information regarding pending and settled legal proceedings

Ameriprise Financial and certain of its affiliates are involved, in the normal course of business, in legal proceedings that include regulatory inquiries, arbitration and litigation (including class actions) concerning matters arising in connection with the conduct of their activities as part of a diversified financial services firm. Ameriprise Financial believes that the Fund is not currently the subject of, and that neither Ameriprise Financial nor any of its affiliates are the subject of, any pending legal, arbitration or regulatory proceedings that are likely to have a material adverse effect on the Fund or the ability of Ameriprise Financial or its affiliates to perform under their contracts with the Fund. Ameriprise Financial is required to make quarterly (10-Q), annual (10-K) and, as necessary, 8-K filings with the Securities and Exchange Commission (SEC) on legal and regulatory matters that relate to Ameriprise Financial and its affiliates. Copies of these filings may be obtained by accessing the SEC website at www.sec.gov.

Columbia Strategic Municipal Income Fund \| 2026

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Notes to Financial Statements (continued)

January 31, 2026 (Unaudited)

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 Strategic Municipal Income Fund \| 2026

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**Columbia Strategic Municipal Income Fund** 

P.O. Box 219104

Kansas City, MO 64121-9104

![](g80035img007e159b2.jpg)

**Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus and summary prospectus, which contains this and other important information about the Fund, go to** 

columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.

Columbia Threadneedle Investments<sup>®</sup> (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. All rights reserved.© 2026 Columbia Management Investment Advisers, LLC.

columbiathreadneedleus.com/investor/

SAR118_07_T01_(03/26)

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#### 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 effective and adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

(b) There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

#### Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

#### Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.

#### Item 19. Exhibits.
(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR: Not applicable for semiannual reports.

(a)(2) Not applicable.

------

(a)(3) [Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.](d80035dex99cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) attached hereto as Exhibit 99.906CERT.](d80035dex99906cert.htm)

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| **Columbia Funds Series Trust II** | **Columbia Funds Series Trust II** |
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |
| Date: | March 25, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |
| Date: | March 25, 2026 |
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |
| Date: | March 25, 2026 |

---

## Ex-99.Cert

**EX-99.CERT SECTION 302 CERTIFICATION** 

I, Michael G. Clarke, certify that:

1. I have reviewed this report on Form N-CSR of Columbia Funds Series Trust II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |
| Date: | March 25, 2026 |

---

------

I, Charles H. Chiesa, certify that:

1. I have reviewed this report on Form N-CSR of Columbia Funds Series Trust II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |
| Date: | March 25, 2026 |

---

## Exhibit 99.906

**EX-99.906 CERT SECTION 906 CERTIFICATION** 

**CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002** 

In connection with the Certified Shareholder Report of Columbia Funds Series Trust II (the "Trust") on Form N-CSR for the period ending January 31, 2026 as filed with the Securities and Exchange Commission on the date hereof ("the Report"), the undersigned hereby certifies that, to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust.

---

| | |
|:---|:---|
| By: | /s/ Michael G. Clarke |
| Name: | Michael G. Clarke |
| Title: | President and Principal Executive Officer |
| Date: | March 25, 2026 |
| By: | /s/ Charles H. Chiesa |
| Name: | Charles H. Chiesa |
| Title: | Treasurer, Chief Financial Officer, Chief Accounting Officer and Principal Financial Officer |
| Date: | March 25, 2026 |

---

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. §1350 and is not being filed as part of the Form N-CSR with the Commission.